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