Thread: Young Man, Looking for Help!

The REI website has a ton of information that will help you get more real estate knowledge. This and other real estate forums are also good sources of information. Get enough knowledge and maybe you can get someone older to partner with you to start investing before you're 18.
You don't need any licenses to buy and sell real estate unless you're asking for a commission or dispensing information to others.
The only places mobile homes are good investments are down south where you can pick one up for less than $5,000 fix it up and resell on a contract or lease option. You find more info about mobile home investing on the REI site.
Good luck,
donrock

Awesome Man i appreciate your response greatly. If you could provide me with a link to the REI site and also what do you mean by

"someone older to partner with you to start investing before you're 18"

How would that go? My older brother who is 19 and is getting into real estate and is about to take some college courses and what not in it. Thanks again man, you've been a huge help! =D

~Kukag~

Hey man, I'm just 16. I've been interested in real estate since I was about 15 too. It's one of the best ways to get rich. That and the stock market. But why not do both?

Get a big sum of money from selling houses/renting, then turn around and invest heavily in reliable stocks.

But hey, your older bro sounds like he might be the person to work with. If he's taking some college classes, he'll definitely be of great use. Not to make him sound like your tool or anything...

Would that really be such a bad thing?

Anyways, I just wanted to say that I'm in it with you haha. Thanks for putting up this post. I'll be sure to check back time after time to see if you got any good answers.

Good luck.


-Cody

Thanks Cody, Its nice to see people around my age with similar goals, I understand your point although personally I will probably stay away from stocks, bonds, and that kind of stuff just because of how unreliable it seems to me. I am not calling it dumb, or saying anything bad about it, its just with real estate I feel like I have more control over my money, thats all. So anyway I appreciate the post Cody and good luck to you and your goals!

-George K.

I don't blame you. Some people don't like to take risks. It's not exactly a gamble if you have an idea of what you're doing though. It's more so a controlled gamble. As long as you study up a bit on it, you can get riches beyond your wildest dreams.

I agree though. It's not always a stable way to make money. But seeing as I'm only 16, once I have the money to invest into stocks (around 20-25) the stock market should be doing better than it is now.

Good luck to you,


-Cody

Exactly for example, GM everyone though they were going to go bankrupt or go under w/e but its impossible, the country is not going to allow them for multiple reasons, one being how much they have invested into military stuff. So honestly hint, I would invest in GM personally from what I hear. So its not a coin flip there is some data that will reveal what will fall and what will rise but it takes great talent and time to 1st of all learn to read it then to analyze it. So anyway good luck man!

~George K.

George,

I admire your enthusiasm at a young age.

As much as Real Estate is an education and numbers game, it's a people business. I have had to learn this in the past year.

So network with as many people as possible. Everyone you know, meet, run in to, etc. should know you want to be in Real Estate.

Don't just network online though, go into your local companies and tell them what you want to do. Ask for help--some will help you and some won't. Take the good with a smile, and a bad with the smile.

As far as info on buying and selling, in Minnesota you have to be licensed to help someone else buy or sell. But you can buy or sell up to 10 properties (I think) per year without a license, for yourself.

There's SOOOOOOO much more to it than that, but start reading blogs, books, articles, watching videos--everything you can get your hands on.

Dear FTHB,

Hey first off I really appreciate your support in my goals and I really appreciate the response! I am fortunate to be avaliable to come online and get the information I have, I am signing up to every program and site I can, I just recently learned about probate deals and self storage. Personally I would love to start with a self storage facility but the price for one is just way out of my range. So hopefully my plans are to buy a few single family homes and rent them for some monthly cash flow and then purchase a SS Facility. I have a question though, I have learned all about forclosures, probates, and stuff but I can't really find anything on the different kinds of loans, the process of getting a loan, what kind of credit you have to have, where to go, that kind of stuff. So if anyone can give me some links or information on this would be great, cause I see all this propaganda about buying your first house with no money down! and stuff like that but I dont see how. So again thanks a bunch FTHB, and I hope to hear again from you or someone else soon! =D

-Kukag-

Originally Posted by Kukag

Hey RSF members, I am 15 years old and am looking to gain some help from you guys. I am a big noob in the field of real estate so what I am looking for is source, links, books, etc that will help me in when I do turn 18 I can purchase property and either rent it or sale it. If you can help me with sites that I can find property's, what kind of licenses I need to buy and sell property, that kind of stuff anything helps truly!

Also one of my main questions is : Are mobile homes worth investing in?

I live in the Los Angeles / Ventura County area and all there is in the 75k range is mobile homes. So Anyway thanks again and I'm serious the more information the better so please post everything you know! Thanks again!

~Kukag~

At your age, you have a lot of time to develop skills needed in the business, such as skills in dealing with people in different walks fo life. Also, do some research on the basics of real estate through the internet or finding a mentor.