BiggerPockets

Miguel, I would say a college degree is well worth it, especially since you are on full scholarship in a high-demand and high paying field. When you graduate in a few years you will have the ability to get a good job and save money to get a great jump on real estate investing. Sure you could get a little head start now, but I think with the earning potential you will have you will be able to make up for lost time very quickly.

I am a part time investor and graduated 5 years ago and I will tell you, my good paying W-2 job has been crucial to growing my company. Sure I plan on going full time at some point, but I do not think I would be where I am today had I not finished my degree and been able to secure a good job. I am sure others will chime in with different experiences.

Also, it is nice to have other skills and be marketable in another field in case you decide real estate is not what you want to do with your life.

Miguel Vazquez, I had the same question. I'm 21 and I've been working part time as well going to community college part time. I'm in the same boat as you. undecided to go into one field or the other which is going for a real estate brokers license. I can only offer this advice; if you choose to go to work and school at the same time get all your stuff in order. two years of W2's or taxes, (or less if you go with the right agent/lender) a good downpayment, no debt, and if your family has given you investment properties put those in too so you can qualify for more cash. Source: my personal experience. Glad to see that there are other young people here who want to this this too!

I struggled through Mech Eng with a minor in EE.
Then ended up in drive control automation & traveled the world on contract jobs.
But that minor in EE saved me a lot of $$$ when renovating homes esp splitting the services for myself & others.
If you're serious about RE investment an engineering background will save you a fortune & give you valuable insight into structural re-design (assuming you take some design courses) when you blow out the walls etc of an older home or add a room above an attached garage etc.
It's a great discipline & you will never regret finishing.

Some pretty good reasons to stay in school.....here's another one

If I were your father and you quit, I'd kick your tail out of the house and break your plate! :)

Miguel,
I would stay in school and finish up, especially since your on a full-ride. I recently got into real estate investing after completing my doctor of pharmacy residency. Although I do have a nice earning potential, the amount of money I spend each month paying pack loans really limits my ability to try to fund my own deals. Having the ability to have a nice earning potential without having to pay back any student loan debt will only help you more down the road.

Stay patient and learn as much as you can and try to do what deals you can on the side.

I tell my children all the time..... An education is never a waste of time!! Education is an investment into your future!!!

LOL @James Vermillion

Miguel,
I work with guys who went on to finish the electrical engineering degrees, got their PE licenses and became forensic engineers making between 200 and 250 an hour. Maybe some get 150. This is where they got to about 10 years out of college, working at it and making money on the way. These are real numbers. I authorize the payouts. I thought of doing it myself. I even got accepted to go back to school at a Purdue engineering program. I chose not to as it would be a 10 year journey for me that way and frankly I can make just as much by then doing things I already do without having to restart something new. You're 18 though. You have 18 more years than I do.

So, is making between a quarter of a million to half a million dollars a year worth it for you to stick to it and finish? Can you do some very interesting REI with that kind of money coming in?

Look beyond what a "standard" engineer makes and look for the high paying niche. That's when it gets sexy and starts to motivate you.

I completely agree with all the advice given here. The one suggestion that I'll offer is that you take some classes that will help you in the future should you wish to go down the REI road. Take those accounting courses so you understand and become comfortable working with spreadsheets and numbers. Maybe do a minor in business management.

So much of what I see here is emotional investing. "I like this property, what should I do?" Very few have the knowledge and discipline to look at a property by the numbers to make a sound financial decision. I'm an artist by trade but what has helped set me apart from my starving brethren is my ability to make sound business decisions.

Good luck in your schooling and your career!

I agree with @James Vermillion and @Brian Hoyt (and everybody else for that matter). A college education is a privilege and a great experience that not everybody has the chance to do. If you've got the opportunity to obtain an asset that you can take with you for the rest of your life - you should do it.

I always get a little bothered when I hear people downgrade the benefits of a college degree. Seems like it's usually coming from those who never went through it from start to finish (either by choice or circumstance).

Will it guarantee your success? Of course not.

Will it deeply enhance your knowledge, academic intelligence, conventional wisdom and communication skills (to name just a few)? Absolutely.

Given how indispensable these benefits are, I'd say that staying in school is a no-brainer.

Originally posted by @Brian Hoyt:
Getting a full scholarship for maintaining a minimum very B average (hopefully you are doing better than that) is a gift from heaven that you should get down on your knees and be thankful for every half hour that passes.

Truer words were never said, Brian. It's one thing to second guess a degree that burdens you with the enormous financial debt many graduates end up with. It's another to be fortunate enough to get a free ride in a field that can be fun, challenging, and lucrative.

Originally posted by @Miguel Vazquez:
But is it worth it to waste my time now not making money....

Is not making money a waste of time, Miguel? Are you questioning the choice you made for your major or are you just impatient to start earning money? Patience, grasshopper. That time will come.

I strongly encourage you to consider a job as an intern or co-op student where you can apply your skills and get some real world experience right now. It will give you a flavor of what you getting into, whether you like it or not, and how to tweak your degree to suit your interests. The government and many large high-tech companies have programs like this that will enable you to develop your focus.

There was a thread here recently I wish I could find for you, where many successful RE investors volunteered their education and formal degrees. It was amazing how many had engineering and other technical degrees.

Jeff