HOW?

unless you got a parent willing to get involve with your real estate investing I don't see how else you can because you have to be 18 y.o. to sign legally binding contracts.

Thats what I was thinking but they have horrible credit! Mine is going to be as clean as a windex window! LOL

Well looks like you got the ambition, I suppose you could have your parents do the deals for you, but if not you just got to wait until your 18. That's what I'm doing, I'm eager as *blank* to jump in right now but that age factor cuts me off cold and that's the only thing stopping me lol. But anyway my advice to you would to be to just build up on your knowledge on real estate by reading the books and when the time comes you'll be ready to jump in the game with confidence.

you both should find someone in the real estate business; broker and/or realtor who you feel confident & comfortable with to teach you everything about real estate. And I do mean everything from taking you on, having you tap along to all of their closing, to how to interact with people and what to look for in people when you start to build your own teams.

15, huh? Pretty ambitious!

If you want real estate experience, you can do the following:

1. study to take your state's real estate license exam - that'll open your eyes. You can get the course online and study and take practice exams. Then when you're 18, you can get your license.

2. get a job as a receptionist at a nice real estate office. You'll be handling walk-ins, phones, interacting with pros, learning stuff on the job you wouldn't think to ask.

3. put an ad in your local school paper that you are seeking a r.e. partner. You and partner can pretend to buy properties. In order to do that you'll "buy" properties (pretend); keep track of them over the next 2-3 years, and see how much equity you would have made if they were real.

4. start going to local open houses in your neighborhood with an adult. It's always fun to see how the other half lives.

5. look online for local r.e. investment groups and start going to their meetings with an adult.

6. read this, which are some recommended readings for teens who want to invest in r.e.: http://www.amazon.com/gp/richpub/syltguides/fullview/24D3G80ENENGN

Good luck!
JennyInMalibu

THANKS!

Just a theory but "Emancipation" from the parents?

I'm not saying do it but just a theory. Does that make you responible for yourself, actions, etc?

My family is helping me with this!

I'm very happy your so ambitious. I'm 23 and I wish I would have gotten involved sooner. It sets a great example when young people especially in our generations take a serious interest in their futures. Just remember nothing is impossible. The world is full of opportunity and a lot of wealthy people today started out long before they were 18! I hope three years from now you are leading a movement off other who were in the same situation as you and can trust you to get them through it!

I am happy to hear that you have the support of your family. I am new to this forum and I was unaware of your age.

You are a dynamo!!

lol I love Real Estate!

Hey Grace,

Many people here have horrible credit starting out and have made deals nonetheless.

So, although your parents have horrible credit, why can't you find the deals, birddogging and have your parents do the deals for you.

Are you or your parents in a position to open a LCC for you? Then you could buy under that name? Look into this and see if it is even possible.

Or, do you have an aunt, uncle, grandparent who could help you or represent you?

Any of this seem possible for you?

Angela

Like Angela said, maybe bird dogging would be a way to get around the age thing. Try to get your parents to read Dean's books and get their credit cleaned up and start doing deals with you since you can not enter into legally binding contracts until you're 18. I really admire your ambition!

If there is a will there is a way. Look into everything she said. I see you are very young and veryyyy ambitious, there is no doubt in my mind that you will make it! Keep on pushing girl. Best of luck

Jeremy

Thanks for the advice BUT how do you buy a house for your self with bad credit and no money to fix the bad credit and people wount loan to you?

then TEACH your parents or study with them the books that show you how to buy with no $ down as you have read 100,s of posts on here it is being done! grace YOU have the drive,ambition,and now the knowledge from dean to make this happen NOW !!! if anyone can do it YOU can grace!!!!!!!

But like I said I read Deans book and it says how to flip them but not really buy it for yourself.

for example in this chpt it tells you how to FIND DEAL or PROPERTIES the old fashion way. like for sale by owners in your neighborhood. the key is to find that MOTIVATED SELLER and take it off their hands maybe by taking over the payments, or buying on a RENT TO OWN with no $ down once you learn how to THEN grace you have to NEGOTIATE with the owners to have them agree on your terms that fit your circumstance and they will IF THEY WANT TO SELL BAD ENOUGH!AND THESE PEOPLE R OUT THER U just have to find them. good luck grace I KNOW YOU CAN DO IT !! just keep studying and ASKING QUESTIONS !!!

The house me and my family found is like fits us the best BUT fannie mae owns it and says they will not carry finacing! So this is a problem!

now u have to find a solution.as you will learn in your personal power studying it is the questions that you ask YOUR MIND #1 HOW CAN I GET THIS HOUSE and then your mind will LOOK for answers to THIS ? you have asked.it is all in the ? you ask. if you say i CANT then that is what will happen. or maybe you need to just look for a different house!! ask wher can i find the house that fits our circumstance!!

If your looking to buy properties without getting a loan then "Lease Options" should be what your looking for, it gives you the option to buy property at any time while your paying rent. For example lets say you don't have money right now and you have bad credit and getting a loan is out of the question. Well you would want to enter into a lease agreement that gives you the option to buy, and after you lease the property, that property is essentially yours for the duration of the lease. And even though your still making monthly payments you still get ownership over the place to do with as you please. You just continue to make monthly payments to the seller until you eventually build enough credit to get a loan so you can eventually excercise your option to buy the property. And oh I forgot to mension all the rent you paid up to the moment when you excercise the option to buy goes torwards the purchase price of the house, so if you've made 8 monthly payments of a $1,000 then you would have established $8,000 of credit that you can use. Hopefully that wasn't too confusing for ya lol.

I am glad to see that you are willing to take the first steps needed! This is a great place to learn and ask questions. Don't ever be afraid to ask. Like it was mentioned there will always be problems, you just need to find a way around them and sometimes there are different answers to the same problem. Work with your parents help them with the knowledge you know, assignments are a good way to earn money-to pay off debt and rebuild credit. Lease to own is a good way to get a house if the numbers are in your favor. With the knowledge that you are learing and with your parents age and support, I am sure you will find your dreams.

Good Luck and God Bless Grace!
hillvalley

Grace, as much as you and your family might have found a really great house for you, the timing might just be off for that.

Maybe you and your parents need to bird dog a little, try and assign a property or two and use the money to repair credit and work towards the family house purchase.

In reality focusing on the family house right now might be a waste of effort if you cannot get financing etc..

Rather than looking at all the obstacles, how about looking at all the opportunities?

Angela

Im looking at both! Thanks for all the replies!

Grace, you have to think pass bad credit. Expose your parent to Dean's information and work with them to turn that bad into good. Sit with your parents and let them know what your goals are, and decide on a plan of action the will be an asset to the entire family. Ask you parent to be open with you concerning their credit, what they owe. Formulate a strategy and spreadsheet where they list their bills/debts and the due dates to ensure that they are paying them on time. Examine their spending habits, maybe in some cases where they wish to spend money on you, turn them down at times. Have regular communication with them. There may be several reasons why they have bad credit and may not want to disclose. Gain their confidence, love them and help them through this period in their lives. It is never too late to turn things around for the better. We have faith in you that you could take the reign here even at 15. You could do this. Grace if this home you see is not for you, God has something better in the works. Good Luck and God Bless.

Sandra

said is true; the thing you may want now, God has something better you and your parents have to learn patience. When considering Lease Option make sure your and your parents understand terms of the Lease Option contract. Some LO (stands Lease option) you will only get a portion of your rent not all of it credit towards your down payment when you go to exercise your option to purchase the house. Also make sure you understand what penalties you/your parents may incure if you're late on payment. Now you parents fixing their credit if they have unpaid CC or medical bills they need to get in touch with the collection agency (if it's been sent to one) to negotiate on paying that bill. They may be able to negotiate paying half of the debt or other percentage to satisfy the debt. Make sure they get a letter saying they've satisfied (paid in full) the debt to send into all 3 Creditor Bureaus to change their credit reports with which of the prespective Credit Bureaus. They have got to pay their debts; they can't run from them.

You in the mean while if you want to start preparing to take RE exam for your State; you can go to Barnes and Noble or Borders they have the RE course book for Sales Associate License that REA use to study for their RE course & take the State exam. You can also go on your RE Commission website and get Adobe PDF file for your State's Laws & Regulations regarding to RE and what's expected of REA and/or REB practicing RE in your state. Keep God first and He will Bless you with all that will meet your needs.

Follow the advice in Dean's book and either use the flip money generated to purchase your own deals, or to improve your parent's credit. Personally I would offer to use half the money to buy properties and half to improve your parents situation. Afterall, they are willing to help you achieve your dream.

I partnered with my parents on quite a few properties and still own RE jointly with them after 11 years of investing. Much of success is about moving forward a half step when others are taking a step back. Best of luck and let me know if I can help in any way.

Regards,
Tony Tomasek