hello, i am 16 years old and i heave read 0-130 property’s by steve (as well as books like, Rich dad Poor dad, and 7 steps to wealth, and i am now reading CASHFLOW quadrent).
i am really getting in to the hole property investment idea. but… i am really bad at maths. i am doing a lower course of maths at school. will this really hold me back in my goals of asset investing?
thank you steve.
jake.
I don’t think so Jake. As long as you know how to work a calculator, or maybe learn to use excel you should be right. It’s simply often a matter of learning the formula, and putting the figures in.
There is plenty of software out there that you only have to punch the numbers into, and it spits out the result for you.
Cheers
Melthanks alot.
i am really exited about investing. and i figure since i am starting now i can have made a start to financial freedom by the time i am 20. i know i have only scratched the surface when it comes to property investing but the more book i borrow from the library the more i can learn. but i still have alot of self doubt.
jake.
Jake, self doubt is understandable. Check out the posts by fudge on his strategy – he’s only a young fella too (bit older than you, but still a ‘baby'[
] – now please you youngsters, don’t take offence, it’s a joke!).Also check out still_in_school (I think he means Uni/Tafe, so again older than you) but he’s managed to acquire 11 Properties this year, while working part time and studying.
The world is your oyster. If you are serious about succeeding you will. If you listen to everybody else around you who’ll tell you you are too young (which you probably are just now, but if you work out your plan and aim towards that, you’ll be better off than 99% of your mates who just spend all their money), then re read what some of the young guys on here are doing.
Cheers
Melthanks alot for your support Melbear. many friends and family members have not taken my interest seriously, or me for that fact… so thanks slot.
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“Your Profit is made when you buy… not when you sell” (Rich Dad)what are some good books to read? i have heard that think, and grow rich is a good book.
is there a shop where they sell mentors? lol
i just want to have some ideas that will help me learn as much as i can about property investment
jake.
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“Your Profit is made when you buy… not when you sell” (Rich Dad)Hey there Jake,
What maths you do at school is the least of your concerns my friend, u need the drive to succeed when you put your mind to a task!
I believe that knowledge is power, and you are going in the right direction going by the books you are reading. the fact that you hav not paid anything to get this information is also a good sign, i think i read in another post that only 1 % of the ppl that go to property investment seminars actually use the knowledge to invest in property so the more free knowledge u get the better!
My advice to you? Try and save as much money as you can, invest in a bank that pays high interest rates for a start, and add to it as often as you can.
Dont get advice from people who are not passionate about investing! at times u may want acknowledgement from other people that you are doing the right thing…. if you speak to someone who has blown every cent they hav earnt on rubbish, is renting, and is expecting the pension, then they are not goint to want to know about your thoughts on buying property…
Get a job and stay there as long as you can, this will help you when its time for finance.
Start small, and WORK your way up.
Stay at home for as long as you can, not only will this help you with your expenses, but it also looks better on a loans application form.
Just remember, every dollar thats wasted pushes your dreams of being a property investor away by a dollar. dont go getting a new car under finance (like your friends) when its time, buy what u NEED, not what u want…
If u believe in yourself, then you can do it, and the more u do it, the easier it gets!
All the best, stay tuned
Jason (24 and buying since 20)
thanks jason.
i guess i have a financial headstart. unfortunatly a few of my family members have passed away and i have been left with the inheritance. i feel that it is my duty or obligation to my family especially my brother to do the best i can with this money. my brother is only 7 so i have to do this as much for him as for me.
jake.
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“Your Profit is made when you buy… not when you sell” (Rich Dad)Hi Jake_Heinemann,
im not much older than you, but i can try to give you the best advice i can give, talk to an account, im not quite sure how it works but i know you can buy a house in a trust if you are under the age of 18, but im pretty sure you need to have someone as your power of attorney to do this for you. The other option i can suggest is. Your money that you have inherited make sure its earning a high interest or some what means, but in the mean time, just keep doing your study and save your money, if you can prove to the bank that you have a regurlar income and good savings pattern by the time you hit 18. You be laughing cause for these days its much harder not just for any age but for everyone in getting there first place. Mostly likly then you be so ready to get a place or have one sooner that you think, that your friends will still be strugling to pay a layby. No joke but im serious.
goodluck in your goals but dont let anyone tell you, that you cant do it. Thats what happened to me.
good luck!
still in school
thanks alot, nice to hear from my peers.
yeah the inheritance is doing well in stocks. blue chip.
and the house i live in now, my mum baught it for $400,000 5 years ago and now it is worth around $1,000,000. and i have 4 thai students in it paying $100 per week, so even while i am living in it, it is still generating income.
[
]jake.
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“Your Profit is made when you buy… not when you sell” (Rich Dad)good luck to you man!
Good thing is… at least you dont have to lay by!
though one thing is, you got alot of equity there in your house, honestly man, you should start investing.
Who knows man, you might be able to retire by the age of 18, if you start investing now….
good luck man
still in school
well, that is the dream, i still dont know as much as i need to… i dont know any people my age who i could talk to regularly about property.
jake.
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“Your Profit is made when you buy… not when you sell” (Rich Dad)Jake
as for not being too strong with maths, trust me. when its your own money you will become strong with maths, leave messages on this web page, i know that there are many people here that will check your numbers for youJake
Try not too get a mobile phone.
If you have too have one get a pre-paid one.
Know of a lot of teenager getting $150 bills per month, who do not have a job.
Remember time is your greatest friend.(plus compond interest).Hi Jake_Heinemann,
Also your best friend is your bank book. Your bank book will be their when your rick and when your poor, but you will find most friends are only there when you got something they want or need.
Short story cut short.
I finish high school almost 3 years ago. I have 1 best friend from school that i keep in contact with. The rest pretty much the day we finished, i never ever heard or saw again, many of my friends went there own way and even other people i know, dont know or have not heard from them either.
friends will come again, but you bank book will always be there for you.
cheers
S.I.Sstill in school, man – “you will find most friends are only there when you got something they want or need.”
Pretty sad statement… maybe you chose the wrong group of friends. I’m getting married on December 13, I’m 29. My best man is a bloke I’ve known since I was 4, my two groomsmen are guys I’ve known since I was 12. There will be about 10 other guys who I’ve known since before I was a teenager along with other friends I’ve picked up along the way. We’re all in different circumstances from those not doing so well, to others who are flying, but we’ve still got a solid core of mateship, even after all these years.
If I should somehow go broke, they’ll still be my mates, and if I become rich, they’ll still be my mates. They and my family are more important to me than any money will ever be.
As in everything, you’re opinion is yours, mine is mine… and that’s what keeps life interesting.
Jake, the best advice I can give you is that while investing is important, don’t let it consume you. A balanced life is as important as anything. I wish I knew what I know now when I was 16… so I wish you all the best in your endeavours, and don’t let people talk you out of whatever you want to achieve. Have a crack and go your hardest.
Cheers
rthanks to everyone,
i have good friends who do not care about money at all. but i know what you mean SIS. i love having a good social life, and investing in property will be seperate from it.
thanks for the support.
jake.
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“Your Profit is made when you buy… not when you sell” (Rich Dad)Hey man, guess what? I’m a 16 year old school student as well. And I too have been reading up on Property Investment for about a year now, and have picked up a tonne of information along the way.
I’m anxiously hanging in there until the end of school and get a job, and get started on my path to success. I’ve just got to play the school “game” for a little while longer.
But the hardest thing for sure, is possessing knowledge and a dream of property investment and not being able to communicate it and talk about it with others. My parents don’t entirely understand the concept of property investment, and hence we have been renting houses for the last couple of years. Apparently its “uncool” or “nerdy” (peer’s oppinion) to be interested in this sort of stuff…whatever. But its good to know someone out there knows what I’m talking about.
So from now until the age of 18 – 20 I’m going to continue reading, learning and discovering all there is available to me on property investment.
And I wish you good luck for the future. Knowledge is power.
-SamHi Sam,
Welcome to the forum, and an excellent way to introduce yourself.
cheers
s.i.sSave on a regular basis
“People forget that by saving just $3 per day and investing it sensibly over a working life, you’ll end up with around $1 million.”An admirable post. When I was 16, it wasn’t info I would have loved…[
]
] – now please you youngsters, don’t take offence, it’s a joke!).
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