IS A 16 YEAR OLD TOO YOUNG TO BUY AND SELL A HOUSE?

By
Real Estate Agent SL3287291

IS A 16 YEAR OLD TOO YOUNG TO BUY AND SELL A HOUSE?

Blue House Sketch Shows Real Estate Or Rentals Stock Photo

I was 16 years old when I bought and sold my first house. How did I accomplish that?

1. I had a paper route and other projects that produced cash, which I saved.

2. I had a father, grandfather and uncles that were Real Estate Investors that gave me advice.

3. I was not afraid to take a risk with my money, because I believed I was receiving good advice and had an opportunity to make a profit.

How Did A 16 year old do at buying and selling a house?

1. My father and uncle helped me find a house that was sold on contract. I had enough money to buy the contract. 

2. My father explained to me that I was to be in control of this property. Each month my father drove me to the house to collect the payment. He stayed in the car while I went in to collect.

3. This family did not always have the money to pay on time and I would have to go back.

4. After many months of telling this family they had to make their payments on time, they fell behind several months.

5. It was then my place as the owner of the contract to tell the family they had to pay or move out.

6. Finally, I asked them to vacate the property and they did.

7. After the family vacated, I went in to see the biggest mess I had ever seen in a home. It would take dump trucks to clean the house out.

8. I soon came to the conclusion that I did not have enough funds to bring the house back up to livable condition.

9. I then found an investor that bought the house for cash.

So, I ask, Is a 16 year old too young to buy and sell a house?

My answer is NO. Why?

1. The experience was a valuable time of learning. I found out some of the problems that one can encounter in buying and selling a house.

2. I learned to not be afraid of doing what needs to be done without someone holding my hand.

3. I felt sorry for the family that had to give up their home, but I did not have the funds to provide charity for them.

4. I learned that Real Estate is not the rosy picture that so many paint it to be.

5. This experience did provide me enough funds to pay for my first year of college.

6. This experience and many others have given me the knowledge to help others to find and sell their Dream Home.

Whenever a person can learn valuable lessons from what they do it is never too young.

No, it is not too young for a 16 year old to buy and sell a house. 

I believe the consumers I work with will agree.

No matter what your age is I am ready to assist you in your Real Estate needs.

Go TO Free Reports: http://mr-florida-realestate.com/

 

 

Comments (112)

John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Thanks Sarah and Lester, valuable and lasting lessons indeed.

Apr 11, 2014 11:22 AM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Liz, it would be great to see people rise to the challenge and do some concrete things to encourage young ones to move into greatness.

Apr 11, 2014 11:26 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thank you for sharing your story. You learned some great lessons from your experience.

Apr 12, 2014 08:58 PM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Gita, thanks for the comment. I still utilize those early lessons.

Make it a great week.

Apr 12, 2014 10:04 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

John, Those are great lessons and you were up to the task. I love it that you were taught that real estate is an important investment asset at this young age.

Apr 12, 2014 10:26 PM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Debbie, I hope we can inspire more people to teach our young people how to invest wisely for their future.

Make it a great week.

Apr 13, 2014 12:11 AM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Amazing story...I am so impressed.  At that age most "kids" have no clue, especially now, about such responsibility!  I've wanted to invest and flip a house for years now and have not had the courage.

Apr 13, 2014 12:20 AM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Sharon, thanks for commenting. My encouragement is: Fear is the greatest killer of Dreams. With good advisers you can attain your dream.

Make it a great week.

Apr 13, 2014 12:22 AM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

I say, it depends upon the 16 year old...or 30 year old...or 60 year old. :)  Some people aren't very resposible, it sounds as if you were born with big dreams and follow through. So awesome that your parents nurtured your early maturity.

Apr 13, 2014 12:49 AM
Richard Burge Realty/ Burge Homes
Richard Burge Realty/Burge Homes - Conway, SC
Broker in Charge/Owner

I tried to buy a car in Ohio at age 18 and they would not sell at that time to anyone under 21.

Apr 13, 2014 01:52 AM
Jackie Cross
Real Living All Florida Realty - Port St Lucie, FL

Our broker tells the story of how he too bought his first house at 16.  I was 18 when we bought our first house.  Was good until we decided to move away and rent it.  Not so good tenants made a mess of things so we too ended up selling the home.

Apr 13, 2014 03:53 AM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

So many people have commented on their youthful real estate experiences.

Jackie, renting can be a challenge.

Make it a great week.

Apr 13, 2014 05:26 AM
Tg Glazer - The Right Realtor® for the Right Results!
Coldwell Banker, Westfield, NJ - Cranford, NJ
Westfield/Cranford, NJ area
What a great story! Any experience that provides an opportunity to learn is a good one. Sometimes the bad experiences turn out to be the best ones.
Apr 13, 2014 08:00 AM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Tg, thanks for the comments. I always try to take a lesson learned from every experience, good or bad that it be.

Make it a great week.

Apr 13, 2014 08:13 AM
Anonymous
Nora Sims
Does anyone know? Is there a legal age today that establishes when one can purchase a home?
Apr 15, 2014 09:40 AM
#114
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Nora, good question. Depends on state. I have heard of 16 year old who was legally emancipated and could sign a contract. The issue is at what age can a contract be binding.

Apr 15, 2014 10:21 AM
Dennis Egan
Grow Mobile Technologies - Fort Myers, FL
I don't think that you ever be too young to learn life's lessons. Great Job!
Apr 26, 2014 12:01 AM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Thanks for stopping by and commenting Dennis. You are so right,start a child off right and give them a good opportunity.

Apr 26, 2014 01:38 AM
Dawn Welch
The Real Estate Consultants - Los Angeles, CA

Wow! Thanks for sharing great story.  It helps when you have supporters at such young age to teach you lessons that last a lifetime.

Aug 01, 2014 05:23 AM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Dawn, I am so thankful to have had family that helped point me in the right direction.

I appreciate your comments.

Aug 01, 2014 05:25 AM