No money, Job or Experience. Where do I start?

Question

Hi everyone,

My name is Oscar and I'm a sixteen year old aspiring real estate investor! Last months I've been watching many biggerpockets podcasts and ordered some books that are on the way. I've truly learnt a lot and I feel like I'm progressing in my journey everyday. As my knowledge has grown I've started looking at properties.

The only problem is that I do not have money, a job or experience. Where do I start? Should I get a job to get cash for a down payment? Should I try to get a partner to finance a deal? Should I try to get a internship at a real estate agency? I'd love to hear your insight,

Thanks

Caroline Gerardo · Answer

In the US you need to be 18 to sign a real estate contract. Get a job. Save money. Build your credit.

Bruce Woodruff · Answer

I'd just lay low and learn for a couple years. You can't even legally own a property yet. Knowledge is key. No point in landing a great prospect and screwing it all up because you don't know enough.

And yes, you will need a lot of money from somewhere....

Taylor Dasch · Answer

Well you are definitely in the right place to start! I would search the forums and learn as much as possible. If your low on money and have a lot of time, I would learn about wholesaling first. The internship at a real estate agency is a good start as well.

Also, if finding a partner is feasible for you then that would be the best option. Most private lenders would like to see some experience or success in the local market or real estate investing space prior to lending their money.

Joe S. · Answer

You can start by reading and studying. Do you have a way of building your credit now as in someone to help you? Do you have a job and work ethic where you can save some money.

As a 16-year-old I would say as side-note… Stay out of trouble. Don’t hang with bad company. Don’t get into drugs nor intoxicate your mind. When I was 17 what really helped me is I started going to church as well as made a whole bunch of other life changes that included an entirely different crowd.

Eliott Elias · Answer

You don't need any of that, what you need is hustle. Start by cold calling every single foreclosure and tax delinquent property in your city. If you don't know how to do this there are tons of youtube videos about it. Learn as much as you can by yourself

No money, Job or Experience. Where do I start?

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