How can i get involved in real estate ate age 16?

Question

i want to buy property for under $1000 and see if i can make a profit. is it really that easy? somebody please help

Answer 1

The stuff you see on TV is very misleading.  They are selling a program and making money off people.  When the people fail to make money the company will simply tell them they are not following the program correctly.

This type of thing is done with "get rich quick" products, and "Get fit and thin quick" products.  Probably tons of other products also.  Don't fall for them.

Answer 2

You don't have enough money to get involved in real estate.  Someone with a decent job and reasonable credit can possibly buy a home with very little down, but you have neither.  Usually investment property requires a significant amount down because otherwise the rents don't cover the carrying costs.  Take your 1000 and put it in a REIT if you really think real estate is going to take off.  

Answer 3

It is easy to buy real estate.  You can do it with no money if you take a house that no one else wants because it's so ugly.  Anyone who enters into a contract with you is taking a chance.  At 16 the law treats you as if you were 6 years old.  That isn't fair but it has been true for 100 years.FInd someone who will sign their house over to you today.  Someone who is fed up with owning real estate.  Ask everyone you know. /

Answer 4

you might want your parents to help you but stock,a real estate investment trust.they own and u as a shareholder own a bunch of properties,,,,,,,,,,,,,,,

Answer 5

It's good for you to set a goal like this but as you're only 16 you're still a minor and any legal document you sign is not valid in law. Also I'm afraid there's no property that's under $1000 and even there's one it might be too dangerous for people to live in. You will also need an income to qualify a loan and money to maintain a house. Just wait and study well in school, get yourself educated and start saving some money when you get a job later.  Your goal will be met one day. Good luck!