Possible for highschool grad to flip houses - Posted by Jack

Posted by jack on April 06, 2006 at 20:04:33:

that is the stuff I like to hear Im going to look more heavily into this

Possible for highschool grad to flip houses - Posted by Jack

Posted by Jack on April 06, 2006 at 18:41:29:

I’m on the home stretch of graduating and was wondering if I took appropriate courses, studied, and researched is there an age to young to start and will banks/loaners take me seriously if provided with a solid plan. I really want to strike out on my own, I dont believe college is for me. However I’m considering going to the navy to get some life experience but I dont want to sit around(although not in the navy) and wait for it when it seems so much more challenging and fun to go out and make something of myself NOW. Hopefully some of did the same I would like to hear from you

Re: Possible for highschool grad to flip houses - Posted by Nimesh Patel

Posted by Nimesh Patel on April 08, 2006 at 23:30:29:

Jack, my advice to you is to go to college and major in an area that is marketable (i.e. Accounting, Finance, Nursing, Teaching, etc…) that can land you a good job. You need a good foundation for the rest of your life. While you are going to school, you can learn about real estate and even flip properties. Whatever you do, don’t join the Navy or any other branch because from my opinion and experiences, they won’t teach you anything marketable. Leave that stuff for others. If money is an issue in relation to your education, then join a junior college and then transfer to a state university.

Re: Possible for highschool grad to flip houses - Posted by ETinoco

Posted by ETinoco on April 07, 2006 at 13:17:50:

You don’t have to worry about people not taking you serious if you know what you are talking about. Read and as you go apply everything you learn. I’m a freshman in college and will be turning 19 in August. I have not done a deal yet but everything I read about finding motivated sellers and other things, I apply instead of just reading about it. For now I’m bird doggin, I just got started two weeks ago and just building my list of buyers. I talk to everyone about what i do and I pass out business cards and fliers at gas stations, grocery stores and libraries; i also post ads on the kansas city star, thrifty nickel, and others. A lot of times you can place ads for free.

It’s good to hear that other 18 and 19 year olds are making an effort to make something of themselves, but like you were told before, you must start NOW. Living your life is not all about parties, of course have a life and have fun now and then. Just determine what’s really important and GET STARTED.

Re: Possible for highschool grad to flip houses - Posted by Jim V

Posted by Jim V on April 07, 2006 at 03:21:20:

The reality of investing is you need to provide sellers with some basis to believe you will do what you say you can do. When you know nothing, and have no assets(nothing), the choice is to either accumulate assets(money), or learn something that may benefit sellers. It can be challenging, but I don’t know that I’ve ever heard anyone say the learning process is necessarily fun.

Solid plans are based on a solid foundation, if you don’t have the foundation, your plans are basically cr*p. There are significant resources on this site, use them. I sincerely hope I never see the word “loaners” used again.

Re: Possible for highschool grad to flip houses - Posted by Patrick

Posted by Patrick on April 07, 2006 at 01:16:11:

Like has been said you do have to be 18 for the contract to be legal. Unless you want your parents to attend your closings and sign all your contracts (wouldnt portray the profesionalism I think is really needed in this buisness). I, myself am 18 (turn 19 next weekend :slight_smile: ) and am working on a deal. The guy is willing to sell and we are meeting this weekend at the house with a member of the family who is also a contractor to look at the house inside and sign contracts. You have to be willing to work hard at it though. I called 58 people before I finally got this seller.

When it comes to buying courses and such I dont really think its needed. I have 4 books and have found pretty much the exact same (sometimes better) info on this site for free. Also your local library should have the books for check out. I do recomend Bill Bronchick’s “Flipping properties” this is by far the best book Ive read (in my unlimited expierence of reading rei books right?)

Well, its late and this is probably totally incoherent but I will leave you with one last piece of advice. Do it, NOW. I made the mistake of sitting idle for 2 weeks after I had my list of properties before I actually called. If I didnt wait that time I could be closing now instead of just starting the process. Avoid “Ill do it tommorow” thought processes.

Good luck and have fun!

Re: Possible for highschool grad to flip houses - Posted by danny

Posted by danny on April 07, 2006 at 24:34:27:

you can learn a lot for free on this site and few others as well read as much as you can then in few month’s and years you will be supprised how much more you will know.

Re: Possible for highschool grad to flip houses - Posted by John

Posted by John on April 06, 2006 at 21:36:25:

I am not sure about all states but here you need to be at least 18 to legally sign contracts

Re: Possible for highschool grad to flip houses - Posted by steve

Posted by steve on April 06, 2006 at 19:57:30:

Of course it is possible. ANYONE can do it. During my first 2 years of college I did 6 deals… without a job and limited credit… only had a credit line for about 6 months when i started. made enough money that i started my own investment business and do it full time… it is very possible and if you really try to make it happen, it will happen. The only suggestions i have is read as much as you can and talk to as many investors in your area as possible, and try it. I learned a lot from reading, but i learned the most during my first deal… some of the mistakes were costly, but i still turned a $20,000 profit on my first deal. Oh, and did i mention, i had $0.00 I was broke when i started.

Re: Possible for highschool grad to flip houses - Posted by jason

Posted by jason on April 07, 2006 at 14:03:40:

I’m 22, working on my 3rd deal. First was when I was 19, I have 40k equity in my primary residence. I am closing on a deal now that will net me 20k. I did a mutual close for 3k also.

SO, YES it can happen. Be diligent, and look past the naysayers…there will be plenty.