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Articles by Dan Sheeks
Looking for real estate mentor in Tampa
Hello everyone, my name is Karter and I am moving into my senior year of high school.
Teenagers starting out
Hi Joe, Read Rich Dad Poor Dad and Get a Job (When Corona is over) and make as much money as you can as quickly as you can (don't spend ANY of it). If Olive Garden is still in business after Corona the waiters there seem to make pretty good money. Read the education links at the top of this site. Learn from the posts on this site. Good Luck!
Advice For Financing a Househack as a Young Investor
Hey fellow BP forums members! I am 20 years old and a new RE Investor looking to get into my first househack within the next year. Being young and a college student I do not make a ton over the course of the year, at least not a ton that is taxed. Currently I work a part time job year round and during the summer I work a full time job being paid by a family friend so I am worried about being able to show a steady income that lenders would like.
How to get into Real Estate at age 16, and how to make money.
I am 16, and I would love to get into real estate. I am going to high school, and don't have a job, so how show I go about getting into real estate? Thanks in Advance.
Upgrade to unlock to Pro Perks
Hello Ana! It's fantastic that you're considering embarking on your investment journey at a young age. I'd like to offer a valuable suggestion. Cleveland is renowned for its robust cash flow potential, but if you're also interested in property appreciation, Columbus is the ideal choice.
Looking For Advice About What To Do Next?
Quote from @Cesar Rivera: College is almost always a waste of time, particularly for an investor. You can learn everything you need to know for free on BiggerPockets. Buy some books and you'll accelerate that learning. Get a coach or mentor and it will accelerate even more. An above-average person can self-study and know what they need within 3-6 months. You can be financially independent and wealthy in 10 years. Start by developing a goal. What do you hope to achieve?
Rookie Real Estate Investing
PRO Members Get Full Access Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
16 year old trying to know more about real estate investments
Skip to content × PRO Members Get Full Access Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success. Advanced networking features Market and Deal Finder tools Property analysis calculators ANNUAL Save 16% $32.50 /mo $390 billed annualy MONTHLY $39 /mo billed monthly 7 day free trial. Cancel anytime.
18 year old newbie investing in Real Estate in Canada
@Faisal Sabastawi Get a job now that gives you a t4 and hold it for at least 2 years. Even if it’s part time currently, it’ll help you qualify when the time comes. And be aware, if you graduated Uni and right away quit that job to start your “career” job,.. that’ll work against you for qualifying as lenders will prefer to see 2+ years at current employment. So even if you keep the part time job (work casual hits)and add on your career job you’ll be better off.
Starting out my Real Estate Journey
@Jabbar Adesada This is some excellent forward thinking. You've clearly defined your goal and defined two plans that have a reasonable chance of leading to achieving that goal. Between the two, if you go with the first option you'll have cash flow and experience on your side as you begin to BRRRR. Hopefully your turn-key properties will have appreciated a bit in that time though that's not something you should rely on.
Seeking Collaborators for a Nonprofit to Teach Kids Real Estate and Financial Basics
Hey everyone, I'm working on a nonprofit idea focused on teaching kids and young adults about real estate investing and financial lieracy. I’m on the lookout for educators, real estate pros, investors, content creators, and mentors who are passionate about sharing their knowledge with the next generation. If you’re interested in brainstorming or partnering to empower young people with real-world financial skills, please drop me a message.
How to Maintain Motivation in 3 Simple Steps
Here’s the thing. If you do everything else right—you have a strong “why” (a strong reason for doing this), you have a plan in place, you’ve got good deal flow coming in, you’ve got your process in place, you’re analyzing deals, you’ve got a source of financing—and everything works, you still may not end up buying anything because of your lack of persistence or motivation. Want more articles like this?
5 Ways to Hack Your Willpower to Get More Done
I was chatting with a good buddy recently, and he says to me, “You know, Brandon, you’re like the ultimate willpower guy. You say you’re going to do something and then you just go and do it.” Want more articles like this? Create an account today to get BiggerPocket's best blog articles delivered to your inbox Sign up for free At this point, I start laughing because I’m the absolute worst with willpower. If there’s ice cream in the freezer, I’m eating it.
Real Estate-Related Jobs for High Schoolers and College Students
As summer slowly sneaks up on us, coronavirus restrictions begin to ease, and our world gradually gets back to normal, it’s time to think about what you want your son or daughter to do this summer. Many summer programs, classes, internships, camps, and activities have been canceled, leaving many parents to wonder what their high school or college student is going to do this summer. Want more articles like this?
4 Life-Changing Lessons My Real Estate Mentor Taught Me
There is no question about it—everyone in this industry needs a mentor. I can truly say that if I didn’t have the mentor that I do, I wouldn’t have made it this far—if not just for his teachings, but for his moral support during my freakouts. Want more articles like this? Create an account today to get BiggerPocket's best blog articles delivered to your inbox Sign up for free I’d say the latter has been the most important, but all the while, there is no reason to reinvent the wheel either.
3 Ways to Be a "Black Sheep" of REI (Don't Follow the Herd to Slaughter)
Real estate is like anything else in life—you can either follow the crowd or you can lead your own way. If there is one thing I have found that most investors get wrong—especially when they are buying properties outside of their local market—it is that they are too dependent on the statistics, the demographics, and what they read in a few simple clicks online. Want more articles like this?
How to Invest in Real Estate Before Turning 21
We all wish we would have started investing in real estate earlier. But when I talk to young people (I’m a high school teacher, so I get to do that daily) about the idea of investing in real estate, the overwhelming initial response is that it’s not something they can do until they’re older. Wrong, wrong, wrong.
Due Diligence: The Ultimate Guide for Real Estate Investors
Due diligence may be boring, but it’s absolutely critical to get it right. Here we’ll take a deep dive into what is perhaps the least fun but most indispensable part of real estate investing: the dreaded due diligence. What Is the Meaning of Due Diligence? While an entire book could be written on all the ins and outs of this subject, the definition of due diligence is rather simple.
The No. 1 Mistake New Real Estate Investors Make and 4 Ways to Avoid It
When I was brand new to the real estate investing (REI) world and the FIRE (financial independence, retire early) community, I was super excited to learn as much as I could. I read books, listened to podcasts, went to meetups, read blog posts, watched YouTube videos, and so on. Want more articles like this?
Start Investing in Real Estate in 6 Straightforward Steps
Everyone has heard at least once in their life the old saying, “Don’t reinvent the wheel” (or some variation thereof). Its meaning is possibly one of the most followed truisms in the modern world—and it especially applies to real estate investing. There are a plethora of people, websites, and podcasts, all touting that their “system” or methods are paramount to success. However, I disagree with many of these statements.
3 Examples of Why Workaholic Real Estate Investors Have It All Wrong
There are numerous kinds of real estate investors that explore the BiggerPockets universe, but we all have one thing in common: We aim to improve our lives with passive income. We have different paths and varied goals, but I would guess that we are all striving to find more happiness through REI. Want more articles like this?
Sorry, But "You Make Money When You Buy" Is a Lie
“You make money when you buy real estate.” This is the age-old saying that everyone knows to be true. Want more articles like this? Create an account today to get BiggerPocket's best blog articles delivered to your inbox Sign up for free There is a reason why it’s so popular and why everyone says it. It’s true. But it’s only true for 95 percent of real estate. There is a small subsegment of real estate where the purchase price does not matter.
How to Invest $50,000 in Real Estate
Today we’re talking about how to invest $50,000. Let’s get it started. Want more articles like this? Create an account today to get BiggerPocket's best blog articles delivered to your inbox Sign up for free OK, so you wouldn’t believe how many investors that I’ve spoken to over the last five years that have $50,000 to invest. I don’t know why, but I guess it’s a magical number. Everyone goes out, works hard, lives frugally, and then they save $50,000 and want to start investing in real estate.
3 Must-Have Traits of Successful Entrepreneurs
As my wife and I continue to grow our investment property portfolio, I often find myself wondering why everyone else isn’t doing the same thing. I look around my circle of friends, all of whom know about our real estate investment ambitions, and am puzzled why they aren’t taking action to grow their net worth through REI.
3 Steps to Kickstart Your Real Estate Investing Journey
We all know people who are crushing it in real estate. But for some reason, we doubt our ability to do the same! Want more articles like this? Create an account today to get BiggerPocket's best blog articles delivered to your inbox Sign up for free When I talk to hopeful investors, I hear the same reasons repeatedly. These “reasons” are really just excuses—justifications that people use to avoid getting into the business.
College Gets All the Attention—Why Not Real Estate? | Blog
More and more, people are discussing the question of whether the four-year college degree is worth the time and money invested. This article is not going to focus on that, but a subset argument of that question that virtually everyone is missing. Want more articles like this? Create an account today to get BiggerPocket's best blog articles delivered to your inbox Sign up for free When people make a case for the four-year degree, they have several arguments that work well.
Due Diligence: What Every Asset Requires Prior to Purchase
All investments require a certain amount of due diligence on the part of the investor before signing on the dotted line. It’s smart to know as much as possible about the investment and where one’s money is going before taking the plunge, and private real estate is no exception. Want more articles like this?
Amazing Mentors: The Difference Between Mediocrity Wild Success
I've been a licensed real estate agent/broker for around 50 years. For approximately 40 of those years, it's been as a broker and owner of a real estate and note investment firm. Want more articles like this? Create an account today to get BiggerPocket's best blog articles delivered to your inbox Sign up for free My first ever license was dated October 15, 1969. I got it in the mail in time to experience my first day in the office on October 25th, a Saturday.
The American Dream: How to Upgrade to Version 2.0
This is the fifth and final post in a five-part series that explores how the traditional “American Dream” does not fit today’s world. The rest of the series will discuss what once constituted success and whether these sought-after milestones should be left alone, tweaked, or changed altogether.
Does Your Strategy Support Your Ideal Life?
A few years ago, I had an interesting conversation with an investor. She was just getting started building a real estate portfolio to create a passive income stream. After we spent quite a bit of time on tactical “how” questions, the conversation turned to questions about strategy and vision. Want more articles like this?
The 3 Most Persuasive Arguments for Buying Rental Property
Indian philosopher Jiddu Krishnamurti once said, “One is never afraid of the unknown; one is afraid of the known coming to an end.” This quote perhaps sums up how the vast majority of property investors felt prior to their first purchase. Want more articles like this? Create an account today to get BiggerPocket's best blog articles delivered to your inbox Sign up for free Prior to your first purchase you knew the score every day.
The Family, the House, the Car-Could It Cost Us Financial Stability?
This is the fourth post in a five-part series that explores how the traditional “American Dream” does not fit today’s world. The rest of the series will discuss what once constituted success and whether these sought-after milestones should be left alone, tweaked, or changed altogether.
Is It Wise to Invest in Real Estate for (Nothing but) Appreciation?
Usually people will invest for cash flow when it comes to real estate. Appreciation of a house is a nice bonus. But is it OK to invest solely based on the belief that a property will appreciate? The short answer: Very rarely. That being said, there are times when it makes sense. But they are relatively few and far between and come with a lot of caveats.
Your Well-Paying 9-5 Job Will Build You Wealth-Reality or Myth?
This is the third post in a five-part series that explores how the traditional “American Dream” does not fit today’s world. The rest of the series will discuss what once constituted success and whether these sought-after milestones should be left alone, tweaked, or changed altogether.
Are Traditional Values Helpful or Harmful Today?
This is the second post in a five-part series that explores how the traditional “American Dream” does not fit today’s world. The rest of the series will discuss what once constituted success and whether these sought-after milestones should be left alone, tweaked, or changed altogether. Read the first article here: “The American Dream: How Has the Definition Changed Over the Years?” Want more articles like this?
The American Dream: How Has the Definition Changed?
This is the first post in a five-part series that explores how the traditional “American Dream” does not fit today’s world. The rest of the series will discuss what once constituted success and whether these sought-after milestones should be left alone, tweaked, or changed altogether. Whether you’re a real estate investor, financial freedom enthusiast, FIRE movement advocate, or all of the above, you are someone who has questioned the status quo of the traditional American Dream.
7 Ways to Screw Up Your Kid's Financial Future (and How to Avoid It)
You love your kids, as every parent does. You want them to live their best lives and to create favorable opportunities for themselves. Some parents, however, have blurred vision in terms of seeing what’s best for their children. It’s not necessarily their fault. They take the lead from peers or society in general, even though those choices may not be best. Or maybe they’re too busy, so things get pushed to the side. Priority lists get mangled and messed. Goals are forgotten or neglected.
How to Make Extra Money in 2019 (22 Part-Time Gigs Side Hustle Ideas)
Would you like to make more money? Silly question, I know. Boosting your income is one of two main levers we can pull to fast forward our journey to financial independence. (The other lever is to decrease your expenses.) For most, finding an alternative income stream is not too hard of an undertaking. But what if you’re young—say between 15 and 25 years old? Those on the lower end of that range are full-time students looking for part-time options to build their savings.
5 Not-So-Great Aspects of Real Estate Investing
As I’ve mentioned numerous times already, I love rental property investing. Want more articles like this? Create an account today to get BiggerPocket's best blog articles delivered to your inbox Sign up for free It’s my passion, my hobby, my career, my baby. However, it’s not always fun, and I want any potential investor to know both the positives and negatives before jumping in. Obviously, I don’t want to discourage you, but I’d rather have you know the tune before starting the dance.
How to Close on Your Next Property in 90 Days or Less
Can you believe it?! We are approaching the end of 2019. Where do you stand with your goals for the year? Want more articles like this? Create an account today to get BiggerPocket's best blog articles delivered to your inbox Sign up for free Let me share mine. I have already accomplished my biggest goal, which was purchasing my third house hack.
13 Habits the Vast Majority of Successful Leaders Share
Habits are a powerful and undeniable part of every human. They drive our emotions and the way we think, act, do business, and make our way through life. Habits are a subconscious powerhouse that operate in the background of our every move. Unless we make a concerted effort to review them, understand them, and change them, these habits drive us mostly outside our awareness. Want more articles like this?
5 Classes Teens Should Take to Start Out on the Right Financial Foot
As we all walk this path of real estate investing and financial freedom aspirations, we learn and grow and achieve. As we start to find success, we almost always have a moment when we say to ourselves, “What if I would have known all this when I was younger?” As with most things in life, we usually regret not getting started earlier so we could be further on our way to our goals. Want more articles like this?
Commonly Overlooked Costs When Buying Your First Property
Let’s talk about some of the costs you need to remember when purchasing your first investment property. Want more articles like this? Create an account today to get BiggerPocket's best blog articles delivered to your inbox Sign up for free OK, for all of my newbies out there, this one is for you. You saved some money, caught the real estate bug, and you’re about to enter the wonderful world of real estate investing. So here is a bit of caution for you from someone who has been there and done it.
Why Investing in Garages Is an Ideal Way to Create Passive Income
My love for investing in garages began a few years after I had started investing in single family and multi-unit residential real estate. Want more articles like this? Create an account today to get BiggerPocket's best blog articles delivered to your inbox Sign up for free I had taken some real estate courses to work toward my broker’s license, and one of the topics we covered was the highest and best use of property. What Is the Highest and Best Use of Property?
My No. 1 Productivity Tool May Surprise You
Have you ever felt stuck? I mean the logjam kind of stuck—like too many logs in a fixed width of river, you have too many important things to do in a 24-hour day. You know you need a change to break up the jam and move forward, but you can never seem to find the time to figure out what to change. That’s the issue—time. Time is our most limited resource. Let me ask you another question: What is the most valuable tip anyone has ever given you? Maybe a stock tip?
How to Become a Billionaire by Being "Approximately Right"
Have you ever confidently stated something you were absolutely sure of… that turned out to be flat-out wrong? As I’ve gotten older, I’ve had more and more opportunities to look back on the things I was “absolutely sure of” as a youth—things that I later (hours or years) discovered were actually false. A Lesson in Arrogance Like the evening I gathered about 18 friends in my living room to tell them about my exciting new business venture. (Yes, I was trying to recruit them to help.
I Used Investing to Buy Property in My Happy Place
Many folks will tell you what their favorite type of real estate is, and it’s usually the type that makes them the most money or that’s the easiest to manage. By that definition, for many years, one of my best types of properties was garages. But that’s not what I’m really getting at today. I’m talking about the kind of real estate that makes you happy. Want more articles like this?
The No. 1 Investment Everyone Should Make This Year
Let’s talk about the number one investment that everyone should be making. Want more articles like this? Create an account today to get BiggerPocket's best blog articles delivered to your inbox Sign up for free Ok guys, so I guess this blog is going to be a little corny because you probably have heard it before. But look, I think that the number one investment that you can make this year is investing in yourself.
Go From Zero To $8K/Month in Retirement Income
I speak with investors almost every day about the same thing: How do I replace my income or at least a part of it? What does it look like, and what do I do to get there? You’ve found yourself on BiggerPockets, reading blog posts, listening to podcast episodes, getting fired up about real estate. And the end game is your form of financial freedom. Let’s dive in on this concept.
5 Financial Decisions That Make or Break Middle-Class Americans
Yeah, yeah—this is another “list” related to finance. Here’s the deal. There are countless articles and books out there for folks who struggle with money. Most of those focus on things like “avoiding bad debt” and “saving for retirement.” This article is not for folks who need a day one intro to personal finance. Want more articles like this?
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