In need of tips for real estate investing

Rental Property Investor · Phoenix, AZ · Member since 2016 · 8 posts · 2 votes

Im in need of someone who can help me learn the basics of investing and or flipping properties. Im only 15 but im open to any basic tips that can help me be successful in the long run when i get my real estate license at the age of 18. I am also in need of experienced real estate investors who can coach me online about additional information i need to know also, but any help is welcome.

Thank you.

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Mindy JensenPro Member
BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
10y
Welcome to BiggerPockets, @Ryan Pounds. What a small world, I used to live in Crete and my sister teaches at Grant in Chicago Heights.
Being 15, you're up against quite a bit. You cannot legally be held to a contract, and therefore it will be much more difficult for you to get started before you turn 18. Not impossible, but certainly an obstacle.
Not sure how long it takes to get licensed in IL, but look into that. You can take the coursework before you turn 18, so that the day you do turn 18, you can take the state test and get your license.
My sister just moved out of her condo in Tinley Park - there are some great opportunities there, along with CCH, Matteson, The Heights, Sauk Village. I'd stick to this side of the state line for now, though.
Get started learning your market. Wherever you're choosing to invest, connect with an agent and have them send you listings so you can get a feel for what is out there and what properties are selling for, both rehabbed and fixer-uppers.
Do you have a job? If not, try to find a local investor who needs some help. At 15, you can't drive, but when does 16 happen? Will you have a car or access to one? Making yourself valuable to an investor by doing things they don't want to or don't have time for is a great way to try it out, without committing to an actual property and discovering that it isn't for you.
[email protected]Podcast Guest on Show #261
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Joe Cantanzriti
Rental Property Investor · Chicago, IL · Member since 2014 · 132 posts · 74 votes
10y
@Ryan Pounds At 15 your posting on a Real Estate Investing Forum, that's a huge step in the right direction right there my friend. You're certainly the youngest person I've run into that has an interest already in real estate so congrats right there on the foresight to know where you want to go. You're already in the right place to have the help you are requesting, just keep hopping into these forums and ask questions, read posts and comment and as @Mindy Jensen mentioned, you'll find yourself in communication with local investors who you may be able to do some work with & for over the next couple years to really get your feet wet in the industry. Also if you havent already go over to the Bigger Pockets podcasts and start at episode #1, listen to them all. I'm a soon to be Chicago resident so with your excitement about the industry already, I'm sure I'll be running into you down the line.
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Ryan Pounds
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Rental Property Investor · Phoenix, AZ · Member since 2016 · 8 posts · 2 votes
10y
Thank you for your responses @Joe Cantanzriti and @Mindy Jensen i really appreciate it.
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