Real Estate to a 17 Year Old

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Posted by John in MI on January 20, 2010 at 21:31:54:

Hi I'm John, I'm 17 years old and I live in Michigan. A friend of mine told
me a little about real estate and for some reason it sparked my interest. I
started to read a little about real estate online and then I ran across this
site. This is an awesome site and I'm very grateful that I found it because
I find almost everything on it very fun and interesting to read. I've read a
lot that this site has to offer, and I really want to jump into real estate, but
I'm still an amatuer and have never done anything like this in my life. I
have many questions and maybe some of you may be able to answer a
few:

Are there certian laws that would influence me because of my age (like
certian restrictions if you are below a certian age, etc)

What would you suggest to be the easiest market to start out in (because
of my age/ lack of experience) From what I have read, my favorite
happens to be house flipping; also I don't think I would be good at
rehabing a house by myself seeing as I'm not experienced in that field at
all.

What do you suggest to be the best way to approach someone who I may
potentially buy a house from (take into account my age - i.e. Not many
people are going to feel comfortable selling a house to someone so
young)

Also keep in mind I have very limited funding ($5000 cash at most to start)
so that may impede my ability to go into certain markets at this stage. I'm
also not looking to make a whole ton of money to start, my main goal is to
start saving up for college so I don't have to take out as many loans and
so that I can at least get my foot in the door of real estate.

I might have more questions later, but if you could help me out in any way
possible I'm all ears and I would love to hear what you all have to say.
Thanks!

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