It’s Never Too Early to Start Investing
How can a teen 13-17 get into real estate without hundreds of thousands of dollars?
Real estate can be a great investment opportunity, but it often requires a significant amount of capital upfront. However, there are a few ways that a teenager can get involved in the real estate industry without having hundreds of thousands of dollars to invest.
Getting involved as a teenager
Experience
Start by working for a real estate company or agent as an assistant or intern. This can provide valuable experience and knowledge of the industry, as well as potential networking opportunities.
Funding
Consider investing in real estate through crowdfunding platforms or real estate investment trusts (REITs). These options allow individuals to invest in real estate with smaller amounts of money, and can be a good way to get started in the industry.
Career
Consider other real estate-related careers, such as property management or real estate appraisal, which may not require as much upfront capital.t.
Roadblocks
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Age limits in owning license/properties - Unfortunately, many investment accounts and options are only available for people 18 and up. Getting involved in real estate depends on the state, but at least in New York City, people need to be 20 years old to apply for a real estate license.
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Build credit - But even before you can invest, you need to build credit, and that can be its own barrier. To open a credit card or take out a loan in the U.S., applicants need to be at least 18. Even though 18 is still technically a teen, it limits what investments teens can make at a younger age.
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Most teenagers are only told about one financial path: Work until you’re old and then retire. But what if you want to spend your adult life traveling, creating, or bettering the world instead of working all day ?