A teenager from a farming family saved $4,000 by age 13 and bought Ford at $0.99 and Bank of America at $3. At 16, he partnered on a $1.125 million apartment complex in Bismarck, North Dakota, using Warren Buffett's 1956 partnership agreement as a template. He became a millionaire by 17.
Walk us through your journey that got you started investing at 13 years old, which is crazy. Then.
We started farming in 1901. Farming's the most risky business, and so everything else seemed pretty low risk to me because you throw all your money out in the fields and hope the weather cooperates. You don't lose everything. Family only focused on farming operations. That's all we did. When I was 10ish, started doing grain cart combine, working on the farm, making five bucks an hour. That's how I saved up to four grand. So I started investing. I just. The market crashed when I was in ninth grade. It was just a perfect entry point. About Ford at 99 cents, Bank America at three bucks. The first four grand, 80 grand was all pretty much lucky. That was just timing.
So. So you just set up a custodian account under your dad or something and then started trading stocks with your savings?
Yep, yep, Started trading. And then I was farming too. My dad got in a really bad accident, so he was gone for a while. So my brother and I took the farm over when I was in 10th grade and he was a senior. And Hibernathi holdings was just a side hobby. And then When I was 16, I found some apartments for sale in Bismarck, North Dakota, three hours away, and had some research on why the oil boom was going to come back. Like the 80s. They needed 1.125 million was the price. I only had $80,000 and the bank would not give loan with 80 grand down. So I went to a farmer, and I didn't have the money for legal work, so I printed off Warren Buffett's 1956 partnership agreement and he put in 300 grand. I put in 80. We bought them and the oil boom did hit and we sold them. And I made my first million throughout my junior year with that deal.
That's insane.
Yeah, so that was a great start.
Is it even legal to buy property before 18?
That's why you need the investor for a lot of reasons. Yeah. So he was.
