How To Start Investing In Real Estate As A Teenager (6 Steps!)

Описание: Get off the side lines and jump into real estate as a teenager - Here's how!

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1. Education
As with getting started in any career, education is usually the first step.
With education and understanding your confidence will grow.
As you educate yourself and become more confident you'll be able to find potential partners who see you as someone who isnt full of shit and wont lose all their money.
Its imperative that you learn how to find and analyze deals so that you don't make the mistake many first time home buyers make which is over pay for a deal.

Books
The Millionaire Real Estate Investor - https://amzn.to/3fre0gY
The Book on Rental Property Investing - https://amzn.to/2PoZqMx

Video To Watch
How to Analyze:    • How To Invest In Real Estate | EXACTLY How...  

2. Find a mentor (optional)
Now this is an optional step, but I love having mentors and I think it's especially important for any young person getting started in real estate.
For one their knowledge is extremely valuable, they can add to your confidence because you can ask them questions, and they help give you credibility by being able to tell investors you work with them
Having a mentor that is doing the same thing you hope to do but is 5-10 years ahead of you will help you cut out a lot of hurdles and mistakes beginning investors make.

How to Find A Mentor:    • How To Find A Mentor In Any Industry  

3. Figure out your value add
Now the reason I've been bringing up investors is because as a teenager you probably don't have a high enough income that has been consistent for 2 years in order to qualify for a loan.
That's where an investor comes in. Now best case scenario this is your parents or a close friend and therefore you wont need to work on this point as much however if your parents don't have the risk tolerance and you have no one else it will be time to look for an investor!
That means you need to figure out what value you are bringing to the table. You need to sell the idea to someone with money that they should invest with you a 13-18 year old...
For example you have the time and energy to improve and manage the property and they have the money but no time.
Keep in mind however that you have limited power starting out at a young age. Take what you can get.
Or what if you start cold calling deals and find a great off market deal. Can you buy it with an investor and get 10% ownership to manage the deal and since you provided the great deal.

4. Get your parents permission lol
This may or may not be a difficult step depending on your parents or guardians but unfortunately under 18 you need your parents to co sign everything as they have custodial responsibility over your property until you turn 18 and they will be at risk if you do anything illegal lol.

5. Find a few potential partners
We've already determined our value add, grown our confidence, and have knowledge on the industry and market so now it's time to find a few investors!
Find deals is extremely valuable and anyone. If someone brings me a deal I would either pay a finders fee if I didn't want to partner with them of if I didn't mind partnering I would give 5-10% ownership for a great deal!

6.Close Deal!
All the puzzle pieces are available now it's time to put them together and close your first deal! Congratulations you're years ahead of the pack and have made a significant step toward wealth and financial freedom!

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❎I am not a CPA, attorney, insurance, or financial adviser and the information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Reece MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Reece's videos. If you need ANY professional advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer/etc. financial advisor or the appropriate professional for the subject you would like help with. Linked items may create a financial benefit for Reece Iovine. Any use of other media is by fair-use only. This is not an advertisement of property for sale and any mention of properties listed or sale or otherwise shall not be construed as anything other than an opinion for entertainment purposes only.