Posted by Bob The Builder on January 08, 2006 at 14:52:53:
I believe you have to be 18 years old for enforceable RE transactions.
How did you do it? - Posted by Alex
Posted by on January 08, 2006 at 11:29:18:
Hello all. I’m 17 and I’ve been researching real estate for about a year now. My father has made a small fortune in it, along with his business 5 years ago.
How did you all start? I do not really have much money at all. Maybe about $1,000. I’ve heard about flipping ugly/abadoned homes. What are your thoughts? Thank you VERY much for your time in advanced.
Re: How did you do it? - Posted by Jeff
Posted by Jeff on January 09, 2006 at 11:39:16:
First of all, talk to your dad and ask him since he managed to work some deals in the past.
Then, since your 17 and can’t write up a contract yet, go to your library and pick out some books by some recommended investors. I think this site has a list of recommended reads. If you’re looking for a book about flipping, Bill Bronchik has an easy-to-read book called “Flipping Properties.” If you’re looking for a general investment book, Carleton Sheets has a book that gives a decent broad overview of real estate investing. In my experience, I found that the library seems to have limited real estate books, and sometimes your best bet is to go to your local Borders, Barnes and Noble, Half Price Books or some other book store in your area. There’s no shortage of books for each area in real estate whether it be flipping, rehabbing, commercial real estate, subject-to and lease options.
Read as much as you can. When you turn 18, find a local REIA group and attend their meetings. You’ll get the chance to network with people who are doing everything that you’re curious about.
Good luck!
Re: How did you do it? - Posted by Mark (SDCA)
Posted by Mark (SDCA) on January 08, 2006 at 12:09:48:
Even if he can’t fund you… why aren’t you asking your Dad what to do??
Re: How did you do it? - Posted by Alex
Posted by on January 08, 2006 at 12:27:24:
His wife does not want him speaking of anything that would take away from me going to college and getting a job.