I'm sixteen and have read a variety of investment books, and would like advice on what I should do to get started on real estate investment between now and when I am eighteen.
If you don't already have a job. Get a job and start saving for that first deposit. The more capital/cash you have to begin with quicker youll progress in my opinion. Thats practical advice.
Hi La5er
Welcome aboard.
Keep reading and educating yourself. There's a sticky thread on recommended reading here – https://www.propertyinvesting.com/forums/community/heads-up/6845
Continue to stay active on forums like this one. They're great for up-to-date information and for asking questions.
All the best.
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hey Jamie
I've read "How To Grow a Multi-Million Dollar Property Portfolio in you spare time", three of Steve Mcknight's, and about ten others. Thanks for the thread.
LA5ER
Also start researching areas that might be of interest to you (and visit if you are able) and visit open homes to see what $x will buy. I have heard that people start guessing how much a property will sell for, then check back when it has sold to see how close they are.
ChrisA1
Persistence is 'to keep on keeping on, no matter how hard the going may be'
Is Domain.com a reliable source for prices and rental returns?
Congratulations – you're on the right path. To be thinking about this at your age is going to put you well ahead in life.
As well as all the reading – find anyone who has had anything to do with any sort of property investing and question them mercilessly. You will get a huge variety of methods, with many claiming theirs is the best way. Take it all in, think it all over and when you're ready, follow what makes the most sense to you.
Good luck
LA5ER wrote:Is Domain.com a reliable source for prices and rental returns?I wouldn't rely only on Domain – but as part of a broader due diligence process it's fine.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Well done. You really will have to get a J.O.B to get things off the ground. If you are lucky try and find something in a related field where you can earn as well as learn.
Don Nicolussi | Mortgage Broker - Home Loan Warehouse
http://homeloanwarehouse.com.au
Email Me | Phone Me"I think of finance as a technology, a way of getting things done." Robert Shiller
I am 17 myself so i certainly know how you feel.
My advice would be to try and learn as much as possible in the next few years whilst we can do little else, make use of all this spare time you have now as when you get older it will be limited. Try to start networking people who invest, this forum is great to learn about new strategies and ask people about how they started etc.
Read magazines, books, watch youtube videos etc, there is so much knowledge accessible and waiting to be leant. We are so lucky as previous generations had to find out for themselves via trial and error or be lucky enough to have extended family or friends who invested.
Thanks for the help/advice everyone.
I will say that initially you do job for pocket money or even borrow money from somewhere to purchase property. Once its prices starts getting high sell that property this way you can start your real estate business.
Hi, Google Nathan Birch. He has some great Youtube videos and also look at his Invested website.
Nathan is inspirational and tried to buy his first property at 16. He did buy his first I think on his 18th birthday.
If you are in Sydney I'd recommend meeting him. He's a wonderful young man (showing my age here) and has encouraged many people on their property investment journey.
Unfortunately, i am in the north west/new england region of nsw, but thanks for the name.
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