5 answers
Sa’Coryia
Student
1
Question
Asked
755 views
How can I get into real estate/Whole selling at 16 Turing 17 ?
How can I get into real estate I’m 16 Turing 17 in December and I really wanted to get more into real estate and I wanna know what things I need to know? how can I get into those things? How? what good resources are helpful for like studying getting to know real estate better and how to make a living of it ?! (Sorry it it’s to much )
5 answers
Hakeem Ola Saka
Freelancer
61
Answers
Maryland Heights, Missouri
Updated
Hakeem Ola’s Answer
Getting into real estate and wholesaling at 16, turning 17, involves learning, networking, and legal compliance. Here's a concise guide:
Step 1: Educate Yourself
Learn Real Estate Basics:
Read books like "Rich Dad Poor Dad" and "The Millionaire Real Estate Investor."
Watch YouTube channels (Graham Stephan, BiggerPockets) and read real estate blogs.
Understand Wholesaling:
Learn how to find, contract, and assign properties to investors.
Step 2: Networking
Join Real Estate Groups:
Attend local real estate investment clubs and online forums.
Find a Mentor:
Seek guidance from experienced investors or professionals.
Step 3: Legal and Licensing Requirements
Check Legal Requirements:
Research your state's age restrictions and licensing needs. Consult a real estate attorney if needed.
Consider Getting a License:
Prepare for the coursework and exam, even if you must wait until 18 to get licensed.
Step 4: Practical Steps in Wholesaling
Build a Buyer’s List:
Network with investors and gather their buying criteria.
Find Properties:
Look for distressed properties via driving for dollars, online listings, and direct mail.
Get Properties Under Contract:
Negotiate with sellers and ensure the contract allows assignment.
Assign the Contract:
Find a buyer and assign the contract for a fee, ensuring all paperwork is legal.
Step 5: Continue Learning and Growing
Stay Updated:
Keep learning about market trends and laws.
Expand Your Network:
Continuously build relationships with mentors, investors, and professionals.
Gain Experience:
Completing more deals will build your confidence and reputation.
Resources for Further Learning
Books: "Rich Dad Poor Dad" by Robert Kiyosaki, "The Millionaire Real Estate Investor" by Gary Keller.
Websites: BiggerPockets, Investopedia Real Estate.
YouTube Channels: Graham Stephan, BiggerPockets.
These steps will help you start your journey in real estate and wholesaling, ensuring legal compliance and building valuable skills and connections.
Step 1: Educate Yourself
Learn Real Estate Basics:
Read books like "Rich Dad Poor Dad" and "The Millionaire Real Estate Investor."
Watch YouTube channels (Graham Stephan, BiggerPockets) and read real estate blogs.
Understand Wholesaling:
Learn how to find, contract, and assign properties to investors.
Step 2: Networking
Join Real Estate Groups:
Attend local real estate investment clubs and online forums.
Find a Mentor:
Seek guidance from experienced investors or professionals.
Step 3: Legal and Licensing Requirements
Check Legal Requirements:
Research your state's age restrictions and licensing needs. Consult a real estate attorney if needed.
Consider Getting a License:
Prepare for the coursework and exam, even if you must wait until 18 to get licensed.
Step 4: Practical Steps in Wholesaling
Build a Buyer’s List:
Network with investors and gather their buying criteria.
Find Properties:
Look for distressed properties via driving for dollars, online listings, and direct mail.
Get Properties Under Contract:
Negotiate with sellers and ensure the contract allows assignment.
Assign the Contract:
Find a buyer and assign the contract for a fee, ensuring all paperwork is legal.
Step 5: Continue Learning and Growing
Stay Updated:
Keep learning about market trends and laws.
Expand Your Network:
Continuously build relationships with mentors, investors, and professionals.
Gain Experience:
Completing more deals will build your confidence and reputation.
Resources for Further Learning
Books: "Rich Dad Poor Dad" by Robert Kiyosaki, "The Millionaire Real Estate Investor" by Gary Keller.
Websites: BiggerPockets, Investopedia Real Estate.
YouTube Channels: Graham Stephan, BiggerPockets.
These steps will help you start your journey in real estate and wholesaling, ensuring legal compliance and building valuable skills and connections.
La' Tonia Corbett MBA
Operations Support Manager
4
Answers
Newark, Delaware
Updated
La' Tonia’s Answer
Hello
Most states require you to be at least 18 to get your REALTORS license. You can take courses online or in person. I would suggest in person if you can. Upon completion some real estate schools partner with brokers and you can interview them to see if you want to work with them. Being an agent you work for yourself under a broker. If there is a real estate you are interested in working with you maybe able to apprentice with them before you get your license.
I hope this helps. Each state is a little different.
Wish you the best.
Most states require you to be at least 18 to get your REALTORS license. You can take courses online or in person. I would suggest in person if you can. Upon completion some real estate schools partner with brokers and you can interview them to see if you want to work with them. Being an agent you work for yourself under a broker. If there is a real estate you are interested in working with you maybe able to apprentice with them before you get your license.
I hope this helps. Each state is a little different.
Wish you the best.
Isabel Dominguez
Student
101
Answers
Corning, California
Updated
Isabel’s Answer
Hello Sa'Coryia,
It's fantastic to hear about your early interest in the realm of real estate. So, where do you kick off?
Education and Knowledge: Begin by immersing yourself in the fundamentals of real estate, understanding market dynamics, and exploring investment tactics. Platforms like BiggerPockets are a treasure trove of articles, forums, and podcasts covering a wide array of real estate topics.
Networking: Forge connections with local realtors, investors, and wholesalers. Participate in meetups, engage in online forums, and contemplate finding a mentor who can impart their wisdom and experiences.
Legal and Financial Understanding: Familiarize yourself with local real estate laws and regulations. Grasping basic financial principles related to mortgages, taxes, and property valuations will prove invaluable.
Hands-on Experience: Consider internships or entry-level roles in real estate firms to acquire practical experience. You might also want to shadow investors or agents to learn the ropes.
Continuing Education: The real estate landscape is ever-evolving, so stay abreast of current events, trends, and regulatory shifts in the industry. Inspirational reads like "Rich Dad Poor Dad" by Robert Kiyosaki and "The Millionaire Real Estate Investor" by Gary Keller can provide further insights.
Chapter One: Embarking on this journey early and establishing a strong foundation of knowledge and contacts is the optimal path to a prosperous career in real estate.
It's fantastic to hear about your early interest in the realm of real estate. So, where do you kick off?
Education and Knowledge: Begin by immersing yourself in the fundamentals of real estate, understanding market dynamics, and exploring investment tactics. Platforms like BiggerPockets are a treasure trove of articles, forums, and podcasts covering a wide array of real estate topics.
Networking: Forge connections with local realtors, investors, and wholesalers. Participate in meetups, engage in online forums, and contemplate finding a mentor who can impart their wisdom and experiences.
Legal and Financial Understanding: Familiarize yourself with local real estate laws and regulations. Grasping basic financial principles related to mortgages, taxes, and property valuations will prove invaluable.
Hands-on Experience: Consider internships or entry-level roles in real estate firms to acquire practical experience. You might also want to shadow investors or agents to learn the ropes.
Continuing Education: The real estate landscape is ever-evolving, so stay abreast of current events, trends, and regulatory shifts in the industry. Inspirational reads like "Rich Dad Poor Dad" by Robert Kiyosaki and "The Millionaire Real Estate Investor" by Gary Keller can provide further insights.
Chapter One: Embarking on this journey early and establishing a strong foundation of knowledge and contacts is the optimal path to a prosperous career in real estate.
ArunBabu Baluchamy
Creative Writer
1
Answer
Chennai, Tamil Nadu, India
Updated
ArunBabu’s Answer
Legal Requirements You Need to MeetAge Criteria:
To become a licensed real estate agent, most states necessitate that you are at least 18 years old.
Education: A high school diploma or its equivalent (GED) is usually required.Residency: You need to be a legal resident of the United States and fulfill any state-specific residency conditions.Start Your Education EarlyHigh School
Focus: Prioritize courses that enhance your communication, math, and business abilities.College Courses: Even though it's not always mandatory, enrolling in business, finance, and real estate courses can be advantageous.
Online Resources: Get acquainted with real estate concepts via online courses and tutorials.Hone Your SkillsCommunication: Boost your verbal and written communication skills.
Networking: Kickstart your networking journey. Participate in local real estate events and become a member of related clubs or organizations.
Sales Skills: Think about getting a part-time job or internship in sales to acquire experience.
Pre-Licensing EducationUnderstand Your State Requirements:
Every state has unique pre-licensing education requirements. Investigate the number of hours and specific courses required in your state.
Sign Up for a Pre-Licensing Course: These can be pursued online or in person at real estate schools, community colleges, or universities.
Pass the Licensing ExamPreparation:
Utilize study guides, mock exams, and enroll in prep courses if available.Exam Format: Grasp the format of the licensing exam in your state, including both the national and state-specific sections.Schedule the Exam:
Once you fulfill the pre-licensing requirements, book your licensing exam.
Choose a Real Estate BrokerageInvestigate Brokerages: Search for brokerages that provide robust training programs, support, and maintain a positive reputation.Interview Brokerages: Arrange meetings with prospective brokerages to identify the best match for you. Evaluate the commission structure, training possibilities, and office culture.
Join a Brokerage: After succeeding in the licensing exam, you must operate under a licensed broker to practice real estate.Gain Experience and Keep LearningMentorship:
Identify a mentor within your brokerage who can assist you through your initial transactions.Continuing Education:
Stay updated with continuing education requirements and enroll in extra courses to broaden your knowledge.Specialize: Think about specializing in a specific real estate sector (residential, commercial, luxury, etc.) as you gain experience.
Establish Your Brand and NetworkMarketing: Establish a professional online persona with a website and active social media accounts.
Networking: Persistently build and sustain your network. Participate in industry events, join real estate associations, and interact with your community.
Customer Service: Prioritize delivering superior customer service to establish a strong reputation and generate referrals.Stay Driven and FlexibleGoal Setting: Establish short-term and long-term objectives for your real estate career.
Adaptability: Stay updated about market trends and remain flexible to changes in the real estate sector.Persistence: Real estate can be demanding, especially at the start. Remain determined and continue learning from each experience.
Extra Tips for SuccessTime Management: Master effective time management to balance education, work, and personal life.Ethics and Integrity:
Always conduct business with high ethical standards and integrity. This will foster trust with clients and colleagues.Professional Development: Consistently attend workshops, seminars, and conferences to enhance your professional development.
Financial Management: Grasp basic financial management, including budgeting for irregular income and saving for taxes.
By adhering to these steps and remaining committed to your objectives, you can lay a robust foundation for a thriving career as a real estate agent.
To become a licensed real estate agent, most states necessitate that you are at least 18 years old.
Education: A high school diploma or its equivalent (GED) is usually required.Residency: You need to be a legal resident of the United States and fulfill any state-specific residency conditions.Start Your Education EarlyHigh School
Focus: Prioritize courses that enhance your communication, math, and business abilities.College Courses: Even though it's not always mandatory, enrolling in business, finance, and real estate courses can be advantageous.
Online Resources: Get acquainted with real estate concepts via online courses and tutorials.Hone Your SkillsCommunication: Boost your verbal and written communication skills.
Networking: Kickstart your networking journey. Participate in local real estate events and become a member of related clubs or organizations.
Sales Skills: Think about getting a part-time job or internship in sales to acquire experience.
Pre-Licensing EducationUnderstand Your State Requirements:
Every state has unique pre-licensing education requirements. Investigate the number of hours and specific courses required in your state.
Sign Up for a Pre-Licensing Course: These can be pursued online or in person at real estate schools, community colleges, or universities.
Pass the Licensing ExamPreparation:
Utilize study guides, mock exams, and enroll in prep courses if available.Exam Format: Grasp the format of the licensing exam in your state, including both the national and state-specific sections.Schedule the Exam:
Once you fulfill the pre-licensing requirements, book your licensing exam.
Choose a Real Estate BrokerageInvestigate Brokerages: Search for brokerages that provide robust training programs, support, and maintain a positive reputation.Interview Brokerages: Arrange meetings with prospective brokerages to identify the best match for you. Evaluate the commission structure, training possibilities, and office culture.
Join a Brokerage: After succeeding in the licensing exam, you must operate under a licensed broker to practice real estate.Gain Experience and Keep LearningMentorship:
Identify a mentor within your brokerage who can assist you through your initial transactions.Continuing Education:
Stay updated with continuing education requirements and enroll in extra courses to broaden your knowledge.Specialize: Think about specializing in a specific real estate sector (residential, commercial, luxury, etc.) as you gain experience.
Establish Your Brand and NetworkMarketing: Establish a professional online persona with a website and active social media accounts.
Networking: Persistently build and sustain your network. Participate in industry events, join real estate associations, and interact with your community.
Customer Service: Prioritize delivering superior customer service to establish a strong reputation and generate referrals.Stay Driven and FlexibleGoal Setting: Establish short-term and long-term objectives for your real estate career.
Adaptability: Stay updated about market trends and remain flexible to changes in the real estate sector.Persistence: Real estate can be demanding, especially at the start. Remain determined and continue learning from each experience.
Extra Tips for SuccessTime Management: Master effective time management to balance education, work, and personal life.Ethics and Integrity:
Always conduct business with high ethical standards and integrity. This will foster trust with clients and colleagues.Professional Development: Consistently attend workshops, seminars, and conferences to enhance your professional development.
Financial Management: Grasp basic financial management, including budgeting for irregular income and saving for taxes.
By adhering to these steps and remaining committed to your objectives, you can lay a robust foundation for a thriving career as a real estate agent.
Jenny Alamo
Client Communication Specialist
1
Answer
Monroe, Michigan
Updated
Jenny’s Answer
In order to get into real estate, you must be 18 years of age. You will need first to go to real estate school, pass their test, submit an application to the state you are trying to get your license from and wait until they approve your application while you finish your R.E school. Once you are done with school you need to take the state test and pass it so you can become a real estate agent. Once you get your license you can find a Real Estate Broker that you can "hang" your license with. My advice is to find a Broker that can give you some training and advice not just sit there and wait to collect their commission split from you. My advice is to find a Broker that also owns a Property Management business that way you can make some money doing rentals while you get a buyer willing to buy or a seller willing to sell and the deal closes (it can take 30-45 days before a closing can happen). I advise you to have some money in savings before diving into real estate because unfortunately bills don't wait for you to get a commission. Good luck!
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