Hey everyone! I’m about to graduate high school and I’m thinking about jumping into the real estate game when I turn 18. My folks have been pretty successful with rental properties and they’ve told me about some cool tax perks. I’m wondering if anyone here has experience growing their wealth through real estate management, especially starting young.
I’m not really into the idea of working a regular job forever. I’d rather build up a property portfolio over time. Has anyone here done this? What are the challenges for someone just starting out? Any tips on how to get going right after college?
I know it’s a big goal, but I’m excited to learn and work hard. Any advice or stories from people who’ve gone this route would be awesome. Thanks!
That’s an ambitious goal! Have you considered house hacking as a start? It’s where you buy a multi-unit property, live in one unit, and rent out the others. Might be a good way to dip your toes in. What specific areas of real estate interest you most?
yo, real estate at 18 is dope! i started with a small duplex n it was rough at first. make sure u got some cash saved up for repairs n stuff. networking is key - find other young investors to learn from. don’t forget bout property management, it can be a headache. good luck!
Starting in real estate at 18 is commendable, but it’s not without challenges. Financing can be tough without established credit or income. Consider partnering with your parents initially or exploring owner-financing options. Education is crucial - take courses on property management, landlord-tenant laws, and basic home maintenance. Start small, perhaps with a duplex, to learn the ropes. Remember, real estate isn’t always passive income; it requires time and effort. Build a network of reliable contractors and mentor with experienced investors. Patience is key; focus on long-term appreciation rather than quick profits. Lastly, always have cash reserves for unexpected repairs or vacancies.