Vernon Hills, IL · Member since 2016 · 6 posts · 0 votes
Hello, I am a Junior in Highschool and i know that for my career in the future that I would like to be involved in Real estate such as wholesale-ing and flipping houses etc... I know I am very young but recently I have started to devote and study about this subject on my freetime. Any tips on what I should be studying or what I need to know? Any information or tips would be VERY helpful. Thanks!
New to Real Estate · Seattle, WA · Member since 2016 · 95 posts · 32 votes
9y
Hi Tony-
Read, read, read for now! Begin saving every penny if you haven't already, read the 'Ultimate Beginners Guide' on bigger pockets website. Go thru old forums and look for beginner to investing questions, get the book 'Investing with low or no money down'. You are so young right now- begin getting all the knowledge you can to decide which path is right for YOU- there are so many different ways to invest! Maybe take 6 mos-1 yr to just learn everything you can before you EXECUTE! :) Ask questions on the forums. Maybe set up your city as a keyword, find investors in your area- connect with them, see if you can learn from them, run errands for them- offer them some value for no pay- you will learn things and meet people in the business. See if this is what you really want to do. When it is your passion you will succeed! I have no doubt you will receive much more advice from others in this community- others with even better advice!! I wanted to give you something right away to chew on though! Good luck!!
New to Real Estate · Seattle, WA · Member since 2016 · 95 posts · 32 votes
9y
Hi Tony-
Read, read, read for now! Begin saving every penny if you haven't already, read the 'Ultimate Beginners Guide' on bigger pockets website. Go thru old forums and look for beginner to investing questions, get the book 'Investing with low or no money down'. You are so young right now- begin getting all the knowledge you can to decide which path is right for YOU- there are so many different ways to invest! Maybe take 6 mos-1 yr to just learn everything you can before you EXECUTE! :) Ask questions on the forums. Maybe set up your city as a keyword, find investors in your area- connect with them, see if you can learn from them, run errands for them- offer them some value for no pay- you will learn things and meet people in the business. See if this is what you really want to do. When it is your passion you will succeed! I have no doubt you will receive much more advice from others in this community- others with even better advice!! I wanted to give you something right away to chew on though! Good luck!!
Investor · Santa Rosa, CA · Member since 2012 · 127 posts · 90 votes
9y
@Tony Han
@Lisa B. Gave some great advice.
I would like to add, to be patient. Have a long term mindset, a successful business is built over years! If you think in years and not months, you will not be disappointed if things take longer. Also I feel that you make better investment decisions when you're thinking long term.
Your young and even though it might not always feel like time is on your side, it so is!
Take action, have thick skin and be so very patient!
Investor · Santa Rosa, CA · Member since 2012 · 127 posts · 90 votes
9y
@Tony Han
And I forgot if your interested in flipping homes, try to find a successful flipper in your area. On your weekend or after school ask if you can clean up the job site for free, in return they can take a little time to show you the ropes. You will be amazed how much goes into a successful flip!
Just make sure your are learning from people who run their business on the up in up! You want to learn from someone who takes pride in what they do!
How you find them will be a little changing. - Local re meetups - Biggerpockets - You can try Craigslist (search we buy houses) probably will run across a lot of wholesalers. - Drive your area and look for houses under construction (large 40 yard dumpers will be a good place to stop and ask)
Direct your summer employment to the construction trades. The experience will be invaluable for flipping.
Learn to live a frugal lifestyle, save every penny and surround yourself with like minded individuals.
Do not get into the modern day habit of living for today, pay check to pay check. Think long term.
You are obviously too young to be thinking marriage at this point in your life but you will some day and when you do you do not want it to impede your success. Establish your investment future before being tied down with marriage.
Investor · Shakopee, MN · Member since 2014 · 219 posts · 88 votes
9y
Listen to every BP podcast. Those alone are worth the value of a good college education.
The one thing I'd suggest you do is when you buy your first home, make sure it's one you are not going to live in.
Live with mom and dad for a couple years or rent a cheap room from some buddies to get by, and get that first house under your belt if you can.
Many people buy a house, then have to make payments and realize they don't have the cash to invest because they bought a house which isn't providing any cash.