I’m 18 and extremely new to real estate.

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Henry Lazerow
Real Estate Agent · Chicago, IL · Member since 2017 · 2k+ posts · 2k+ votes
7mo

Skip the scammy mentors and all those gurus, etc. Get your income high enough so can get pre-approved for a house hack on a 2-4 unit and jump in! House hacking with low down payment is a huge wealth builder especially when get in young. Your renovation skills will help, maybe look for a place that needs cosmetic renovations you can do easily yourself. 

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  • Janice Carter
    Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 608 votes
    7mo

    A good place to start is by joining your local REIA and real estate investor Facebook groups. That is where many investors find mentors, partners and opportunities to learn the business while still working a 9–5. Also attend local meetups and networking events as relationships are often how mentorship opportunities develop.

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  • Henry Lazerow
    Real Estate Agent · Chicago, IL · Member since 2017 · 2k+ posts · 2k+ votes
    7mo

    Skip the scammy mentors and all those gurus, etc. Get your income high enough so can get pre-approved for a house hack on a 2-4 unit and jump in! House hacking with low down payment is a huge wealth builder especially when get in young. Your renovation skills will help, maybe look for a place that needs cosmetic renovations you can do easily yourself. 

    2Reply
  • Scott Mac
    Austin, TX · Member since 2019 · 5k+ posts · 5k+ votes
    7mo

    What @Henry Lazerow said is solid advice.

    Also it would be wise to start saving a percentage of every paycheck right now (( Cash is King )).

    You'll have to decide what percentage you can to save (( on a consistent basis )) every payday.

    Try picking a percentage that you can do without having to dip into it for other expenses.

    Guess at the percentage--if you really need to you can modify it up or down as time goes by--but try to keep it the same consistently).

    Use the savings account for this particular purpose only, and don't mix that money with any other money you might be saving.

    This will allow you to easily know how much down payment you have available as well as being able to predict when you'll have that down payment.

    You will also need to have some (( Cash Reserves )) money and closing costs money saved to qualify for the loan.

    Those amounts should go into that savings account also.

    Good Luck

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  • Aaron ZimmermanBusiness Member
    Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
    7mo

    I'd recommend networking with other investors and trying to be valuable to one of them so you can learn the ropes of the business. Also agreed with what@Henry Lazerow said too. 

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