I’m 17 and don’t want to go to college

150 Replies

I'm 17 and a junior in high school, I want to be a full time real estate investor one day (commercial real estate). When I turn 18 I wanna get my real estate license so I can raise some capitol and start from there. What do you guys think?

Go to college if you can. Build a network of experts in the business and read a lot of books. REI is not a get rich quick game. Start out slow and build traction as you go and definitely dont burn bridges along the way. Good luck.

@Jeffrey Masessa

Me personally I was the same way, I just turned 20. I’ve been licensed for a little over 1 year. If you love investors connect with as many as possible(BP, FB, meet ups, and local investors). Find a niche for investors and crush it. Since you’re young you can be focused, driven, and hungry. In my first year I mainly helped single family investors. This year I’m doing more commercial and large multi family. It’s a snowball effect, takes some time and isn’t easy.

Then don't go. But if you don't you better be working your *** off 6 days a week. If you want to be in real estate then finding work in real estate. Don't skip college and then be a host at Applebees 5 nights a week. 

@Caleb Brown My main goal is to become a real estate agent just so I can learn more about real estate, then I wanna put all the earnings I got from being a real estate agent into investment property's. Kinda like how MeetKevin and Gram Stephen from YouTube did.

@Jeffrey Masessa

That’s what I’m doing. Buying property this year. Learn as much about real estate as possible

@Account Closed

Suck it up buttercup.

College is the only thing you'll be able to put on your resume for a couple years. I don't know how much money someone would be willing to invest with a 22 year old straight out of college, but it's more than they'd invest with an 18 year old straight out of high school.

Financial success over your lifetime will depend on diversification and real estate should be a big part of that for you. If you don't have a job and an IRA right now, you are dreaming about the finish line instead of starting the race.

Additionally, every old person thinks every young person is inherently lazy because of back in my day syndrome. Keep "I don't want to" out of your vocabulary for the next decade or so, especially in the company of potential investors. "I'm 17 and want to get a start in real estate by 19" is conveying your point in a much more powerful way that can't connotated negatively.

It's your path to walk, so do what you want, but it will never be easier for you to get your degree than right out of high school.

Good luck.

A degree isn't going to help you in the real estate world, but an education is priceless.  There's a huge difference, and there's no need to give away tens of thousands of dollars if your objective is to gain knowledge, especially since more than half of your time will be spent on topics in which you aren't interested.  Unless you know that what you want to do requires a degree ( lawyer, nurse, teacher), I dont think a degree is the answer.  IN my 20 years in real estate, not once have i been asked about my degree.  
My advice, which i don't give to people often, (and almost never to adults cuz they don't really want it) is to Start with books, webinars, and any job that builds a relationship with local investors and realtors.  Then, after high school, take some cheap courses online or at your community college that will enhance the area in which you're interested.  Real estate, contracting, business,  plumbing, etc.  The economy is changing quite quickly and people are finding a plethora of ways to make a great living, so don't get discouraged if you  feel like college isn't for  you.

@Jeffrey Masessa I think of college as a time to transition into adulthood in a controlled setting so I recommend it if you need that. Some don’t. It’s very expensive to go to college and if your heart isn’t in it, you’ll either bomb and waste a lot of money or be miserable and waste a lot of time. I think getting your real estate license right out of high school is a good idea but know, by doing that you forfeit that transition time and you’ve got to immediately start working hard and making it happen.

@Patrick Snyder that’s awesome thank you. I’ve been watching a ton of YouTube video about real estate. Now I’m reading the Contrarian Playbook by Manny Khoshbin. I plan to read a lot more books this year on real estate investing!

If you dong go to college join a trade or join the military. Do something productive that provides some sort of value towards real estate 

I would say 75% of the people I know aren't even utilizing their degree, but are sitting on tons of debt because of it. It was basically a really expensive party.

Im not saying don't go and get an education, what im saying is if you are, make sure you have a clear path in mind and you can be smart about paying for it (commute, part time job, etc). 

If investing in real estate and getting your salesperson license is a clear path you want to pursue, then a college degree is useless. Don't go to college because its what society says you should do. Follow your dreams, take action.

Originally posted by @Todd Rasmussen :

@Account Closed

Suck it up buttercup.

College is the only thing you'll be able to put on your resume for a couple years. I don't know how much money someone would be willing to invest with a 22 year old straight out of college, but it's more than they'd invest with an 18 year old straight out of high school.

Financial success over your lifetime will depend on diversification and real estate should be a big part of that for you. If you don't have a job and an IRA right now, you are dreaming about the finish line instead of starting the race.

Additionally, every old person thinks every young person is inherently lazy because of back in my day syndrome. Keep "I don't want to" out of your vocabulary for the next decade or so, especially in the company of potential investors. "I'm 17 and want to get a start in real estate by 19" is conveying your point in a much more powerful way that can't connotated negatively.

It's your path to walk, so do what you want, but it will never be easier for you to get your degree than right out of high school.

Good luck.

Your comment: "I don't know how much money someone would be willing to invest with a 22 year old straight out of college, but it's more than they'd invest with an 18 year old straight out of high school."

Your logic is flawed. A 22 yo straight out of college is $35,000 in debt on average. An 18 yo who works for 4 years until he is the age he would be getting out of college can save $25,000 a year for a savings of $100,000 plus get the experience necessary to be successful in real estate.

 

Originally posted by @Jeffrey Masessa:

I’m 17 and a junior in high school, I want to be a full time real estate investor one day (commercial real estate). When I turn 18 I wanna get my real estate license so I can raise some capitol and start from there. What do you guys think?

Forget college if it isn't your passion. If your true passion is real estate, join a REIA, attach yourself to an investor and learn the business. Plenty of people have become wealthy without a college degree (many here on BP) by doing things they are passionate about, and they have fun while they are doing it.

Originally posted by @Account Closed

Suck it up buttercup.

College is the only thing you'll be able to put on your resume for a couple years. I don't know how much money someone would be willing to invest with a 22 year old straight out of college, but it's more than they'd invest with an 18 year old straight out of high school.

Financial success over your lifetime will depend on diversification and real estate should be a big part of that for you. If you don't have a job and an IRA right now, you are dreaming about the finish line instead of starting the race.

Additionally, every old person thinks every young person is inherently lazy because of back in my day syndrome. Keep "I don't want to" out of your vocabulary for the next decade or so, especially in the company of potential investors. "I'm 17 and want to get a start in real estate by 19" is conveying your point in a much more powerful way that can't connotated negatively.

It's your path to walk, so do what you want, but it will never be easier for you to get your degree than right out of high school.

Good luck.

Your comment: "I don't know how much money someone would be willing to invest with a 22 year old straight out of college, but it's more than they'd invest with an 18 year old straight out of high school."

Your logic is flawed. A 22 yo straight out of college is $35,000 in debt on average. An 18 yo who works for 4 years until he is the age he would be getting out of college can save $25,000 a year for a savings of $100,000 plus get the experience necessary to be successful in real estate.

Your comprehension is worse. Jeffrey's original post included that he intended on raising capital straight out of high school. My comment was that a potential investor was more likely to invest money with a college graduate that had a little more life experience than someone who was fresh out of high school trying to raise capital before they had any ability or track record of providing a return. It had nothing to do with how much money he would personally spend in pursuit of education versus potential for savings.

Additionally, you don't have to graduate in debt. Debt is a monetary expression of impatience. Jeffrey's greatest chance at overall financial success in life is to work hard at a job (as in full or near full time), pursue education (formally and in areas of real estate), live frugally, and to invest as much money as possible as early as possible.

My son has just turned 17 and is a senior in high school.  At most universities he will start as a sophomore or possibly junior.  He states he does not want to go to college.  

He has not gone to college to know whether he will like it or not.

He has a small business with an employee (lately his employee has been working harder and more than my son).  It is not a business that is likely to lead to decent success.  In addition, his passions that have decent opportunity to be able to support him (life sciences and environment) both require degrees for the traditional paths.  He has no viable plan for being able to support himself in a decent manner without going to college.

I offered to pay him to read Rich Dad Poor Dad and he failed to finish the book.  He thinks he knows everything.

If he does not go to college, it will be such a waste (he has a top 1% SAT, 10 AP classes, a 4.2 GPA and an outside school resume that let him meet the senior year national merit scholar points prior to his junior year).  What I have been forcing on him is that he give university at least a year.  I will pay his college related expenses (he will not have any school related debt).  I hope he ends up liking it.  Even if he does not like it (I have a MS and never really liked school), maybe he will realize it is the best path to his desired occupations.  Maybe he will make contacts that can help him.  

If he does not choose to go to college, I will expect him to support himself but will help him with his first house if he stays local (maybe sell it to him for 50% or something similar but I think the wife wants to give him his first house - ugh!).

Have you seen the average lifetime earnings difference between HS degree and bachelors degree?

I suggest you give college a try.  Maybe you will like it.  Maybe you will realize that it provides opportunity.  If you feel college is a waste after trying it, I would feel more comfortable with a decision not to finish college.

Good luck

@Jeffrey Masessa

Reframe: I’m 17 and I want ____.

Now go get a job, today, even if it’s volunteering, that gives you skills to start moving from where you are to where you want to be. Ex: selling furniture will at least get you used to uncomfortable conversations with rude customers.

Also, quit with the kid speak. Wanna = less professional than you want to portray (even in an online forum). Keep the LOL fml and rotfl crap to your conversations with your love interest.

@Jeffrey Masessa that’s fine! Find a skill and learn it! Real Estate is such a valuable skill you can go far with real estate.

You have some serious dreams and that is a great place to start. Dreams alone will not get you to the finish line so the question to answer is how to get where you want to go. Those plan will inevitably change because unexpected things happen and believe it or not even your priorities may shift over time. Reevaluating through the process is key.

First of all recognize that all advice from anyone is coming from their own personal experience. That is one of the reasons that getting diverse information from as many sources as possible is key to being truly educated on any subject. Not matter what you believe about formal education, life education is going to be pretty dang important no matter what you do. Life education can come from a vast group of resources and some of those can be formal education while most of them will not be. My thought here is not to push you any direction but just to get you to think.

Let's talk about college really fast. My first question would be why you don't want to go to college? Are you asking yourself the right question here? Is your goal in life not to attend college or is your goal to own a lot of real estate? Is your goal really to own a lot of real estate or is it to be wealthy and you don't really care which legal way you get there? The answers to these questions and probably many other similar or branching questions should guide your decision.

To better explain let me say first that we all suffer from these issues but often we don't act in our own best interest because the steps to get our end goal is not clear to us. Which do you care about more, not going to college or becoming a successful real estate investor? If the answer is real estate investing than you should completely forget your goal to not go to college as a start point to reaching your goal. Maybe no going will be a step you take but assuming you can reach your end goal and do that is going to close to options that really might be necessary steps to get to you where you want to end up.

If I were your age with the goal of being a real estate mogul with my experiences now I would do or consider the following:

-Read a boat load of information out there- books on wealth, books on real estate, magazines and journal that real estate agents and buyers read. Listen to podcasts and gather enough basic information to make myself dangerous. Study competing opinions so that you can piece together the whole argument and see both sides before you setting on your preferred.

-If I want to be a real estate agent- talk to as many agents in person as I possibly can. Ask them who the most successful agents are. Contact those agents and also ask them to meet with and mentor you with advice. How did they get to where they are? What steps did they take? What are the most important skills and how are they developed? Do they know any successful agents that didn't go to college? Ask for their information, contact them, ask to meet with them and ask how they did it or if they would do it differently. Also ask everyone if they know any successful real estate investors that do the kind of investing you are most interested in. If they do ask if those individuals might be the type of people who would give you advice on how to get where they are someday. If they would ask to contact those people, do so, repeat and keep building a network of knowledgeable individuals that do exactly what you want to do. Write the information down as you speak with everyone and review it. Come up with new questions to ask as you go along. These are the type of nuggets that you can start to rely on when the information is robust.

-Do the same thing as above with lending officers or investors who loan their money out to real estate investors. Ask who they lend to and what they look for. Ask what the background of the people they lend to is. They probably don't even know but they can probably find out. Ask them to introduce you to some of them so that you can get advice from them as well. Rinse and repeat with anyone in the industry that works around the type of people you want to be (insurance people, lawyers, whole sellers, landlords etc. You will find that if you let them talk, just want advice, don't dominate their time, are grateful and maybe even offer to help them for free if they could use your limited skills you will have no shortage of people open to sharing their thoughts with you. Some of those people could become good friends and business contacts in the future. You will stand out even more because young adults from the beginning of time struggle to get on the phone or go down to a brick and mortar location and make this type introduction.You will instantly look more serious about your goal. It holds so much more weight than emailing, contacting through social media or getting on a website like this. Those things can be good back ups if more direct methods are not working but should not be relied on.

All of the above is relevant because you will get a pretty quick idea about whether what you are hoping to do is a likely path to success. Now if you are seeing that almost everyone has a college degree except for a few outliers whose actions did not follow any particular course you can duplicate than its time to drop the lesser goal for the greater goal, suck it up, go to college and establish yourself in every meaningful way that will get you to where you want to be.

My personal advice is just one of many voices but I'll give it. Go to college part-time and as inexpensively but as high quality as you can. Keep doing everything I described above but take 2 or 3 classes while doing it. Also work like crazy and spend nothing. See if you can get your real estate license while in school. Build credit. Save a sizeable chunk of cash and then buy a place near to the campus your schooling is at, where you can house hack and rent a bunch of rooms to other college kids. The location and cost of real estate in that area will be a big factor in pulling this off. Ideally rinse and repeat through to graduation when you are hopefully sitting on several properties. Maybe you never graduate because your properties take off and real estate draws you in full time, no big deal the degree was never the goal but don't make excuses if staying is the more successful route. From that point you should be able to expand pretty systematically and by the time you're 35 or 40 you are a real estate mogal and you are buying apartment complexes, trailer parks, office building etc instead of SFHs. Real estate is not rocket science and in my opinion is the route gives a high probability of success if stay the course, buy intelligently and don't live lavishly.

Much more than I planned on writing but there it is. Personally I love the books the millionaire next door and millionaire mind combined with the mentality of Rich Dad Poor Dad. There is a lot of financial truth in multiple taught methods of not spending and yet still taking reasonable risks that make your money work for you. One last thing I will add is that thinking of college as a degree is wrong in my opinion. It is the contacts that you make there and ideally the way they teach you to learn that are the true value. Most wealthy individuals met their spouse, best friends and many of their business associates through their college education. This is all true for me.

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