Hi there, first of all, thanks for taking the time to read this and hopefully you’ll be able to give me your highly looked upon advice. I’m 16 years old, from the UK, I know this is a AU website however I couldn’t find any good UK forums, anyways, I’ll be going to further education for the next 2 years studying, afterwards I have the option to go study interior design at uni for min 4 years costing $12,000 a year, I’ve heard studying property development at uni is a waste of time so I won’t be taking that into account at all. This is the route my mother would like me to take however I have an alternative view, I’d like to find a job in electrical, plumbing, building etc. to get some experience when renovating houses, in the future. I’d like to save up enough for a deposit and mortgage on a small 1 bedroom flat, which i could rent or sell. Instead of spending 4 years at uni, I could get a job and save up however I have no idea whether this would even work, I’ve seen in other forums suggesting it would be better to buy and sell for a profit however long term wise, wouldn’t it be better to rent? I don’t come from a wealthy family so I would have to sacrifice going to uni and get a job in order to become my dream career, a property developer. Have any of you had the same dilemma as me or can relate? I’m unsure on how to get started, I know im too young to get a loan of some sorts but I feel useless, what can I do NOW to help me in the future instead of sitting around doing nothing, I have a weekend job but most of that money I need to spend on day to day things so it’s impossible to save up. I’m incredibly determined and hard working but I geniunly don’t know what to do. What advice would you current property owners/developers etc give to yourself if you could go back to your younger self. Many Thanks :)
Firstly DCT i am very impressed that you are interested in property at such a young age.
I was 18 before i had my first property under contract and guess never looked back even when i moved to Oz.
In the UK i would probably suggest you join http://www.propertytribes.com as it is an active forum with plenty of property members and totally free.
Good luck and keep us informed of your progress.
Cheers
Yours in Finance
0-40 Properties in a decade. Email me for a copy of my API interview.Richard Taylor | Australia's leading private lender
Congratulations for having a clear goal at your age! Half job done.
Start reading, whatever you can get your hands on. Even if you learn only one thing from the book, it is worth it. Do not limit your reading only to property literature. Personal development, goals setting, economic, finance, tax low….Try to find a local mentor.
As for your education, it is important. Try to look for a carrier which will come with as big pay cheque as possible, because you have to save in order to start (as you are aware already). Maybe to look for a job with the smaller developer, when you would not be part of huge system, but more hands on in every day operations?Good luck!
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