Starting early in real estate

Specialist · New Market, MD · Member since 2021 · 25 posts · 19 votes

I am 18 and in high school, and I know real estate investing is what I'm passionate about I've been reading books and have been obsessed with is for a couple years now. But I don't know where to get started so my big question is would it be beneficial to get a degree in business or is it better to join the workforce and get capital ASAP?

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Conner Olsen

Real Estate Agent · Austin, TX · Member since 2020 · 1k+ posts · 941 votes

If you want to get a property ASAP I would become a contractor or electrician or plumber. They are in high demand, you'd make good money, you can start your own business, and you can do work on your properties yourself. If you want to go to college I'd choose a school that would minimize student loan debt and pick a major that has high pay with few hours. Having a high W2 makes scaling a lot easier.

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Rick Albert
Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
4y
I think you do both but everyone's situation is different.
I know people who went to college and became very successful and I know others who didn't go to college and did very well for themselves.
People often view college just for the education but there is so much more to it. There is experience to be gain in extra curricular activities (such as fraternities, social clubs, and student government). However the big thing that many don't talk about is the networking opportunities. I wouldn't be where I am today if I didn't go to college because the networking from there got me to Los Angeles. Some bigger name universities have alumni networking events all over the country. Who's to say your next deal wouldn't come from one of them? What about finding out another student's dad works in real estate and needs someone part time? You get out of it what you put into it.
While in college, no one is stopping you from working part time for a builder to learn the ropes. You just need to manage your time.
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Sara Frank
Realtor · Baltimore, MD · Member since 2020 · 255 posts · 182 votes
4y
Quote from @Matthew Newsom:

I am 18 and in high school, and I know real estate investing is what I'm passionate about I've been reading books and have been obsessed with is for a couple years now. But I don't know where to get started so my big question is would it be beneficial to get a degree in business or is it better to join the workforce and get capital ASAP?

I have an unpopular opinion on this. I do not believe in any way that you NEED to go to college, in fact I believe the opposite. I think college is oversold to kids and most of the time not worth the money. However. I went to college on the cheap and I can say there is no better crash course at maturing/learning about yourself, learning discipline (if you want to do well in courses), and learning to "adult". Its truly four years of life on training wheels. There is a lot to be said for not doing the college thing and going straight into investing, you'll probably go very far in your investing career. BUT I consider my education to be my most valuable asset and no one can take it from me. Bachelors degree == fallback plan if real estate doesn't work out. I don't regret going to college at all but I do regret not investing sooner. If you can combine the two, totally do that. Go to school where you can go at an affordable price, study something usable (I studied economics use my degree every single day in real estate), maybe find a way to buy a house in your college town and rent out the extra rooms. Investors can sometimes act like you waste four years of your life by paying to go to college, but four years is NOTHING when you are 18. I didn't even know that college was optional until after I graduated - it was an expectation in my family. If its not an expectation for your family and you don't get excited at the idea of it, don't do it. Not worth it. Its a complex decision to make, so you're absolutely doing the right thing in seeking input from others. I hope this helps, and goodluck!
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Nicholas MischPro Member
Investor · Broadview Hts, OH · Member since 2016 · 310 posts · 280 votes
4y
Quote from @Amelia Foronda:

I have a Bachelors in Business and it's doing nothing for me as far as real estate is concerned. Reading and connections with people is what your going to be most reliant on.

I wanted my business degree (which I have a bachelors of business administration) years ago and don't really regret it, though I haven't really used it technically for anything I have done. Especially now between books, the internet and hands on experience, college of any kind is pretty useless, unless your desired career requires it to enter that field.
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Seth Samson
Rental Property Investor · San Diego, CA · Member since 2021 · 5 posts · 11 votes
4y
@Matthew Newsom takes a lot of maturity and self-mastery to be able to say this. Congrats on both. To answer your question, I'd probably skip college but not on education. 4 years is too long (you might lose your edge - which is your youth) but a year or so to learn a skilled trade (in a field related to real estate) will yield bigger wages and hence bigger capital. I'd probably use that capital to start investing in a cashflowing market. Build even more capital with that and start building your empire. The magic of time, appreciation and compounding interest will do the rest for you. With your discipline and intentionality, you will be surprised what you can achieve in 5-10 years. Do not underestimate that. Best of luck to you, my friend.
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Joe PrillamanPro Member
Rental Property Investor · Carolina Beach, NC · Member since 2017 · 441 posts · 462 votes
4y
Great question Matthew,
If I could go back and know what I know now I absolutely would move to a college town. I would spend 8 hours a day studying real estate. Go to every meet up, meet every investor, get scrappy and find any way to house hack even if you arbitrage a rental property to your college buddies. Sam Zell even managed the apartment complex he was renting by the time college ended! Whatever you do don’t quit! Daily consistent action and read every BP book you can. Typically I see 5-7 years to hit financial freedom level 1 if you are extremely dedicated and understand that all your success will start in year 5. Don’t get hung up on the outliers who hit it in 2 years. Grind during your 20s my dude!
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Michael Deering
Rental Property Investor · Lehigh Valley, PA · Member since 2017 · 200 posts · 191 votes
4y
Network. Being an 18 year old guys get the W2 and learn and work the business on the side.
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Randy Gutierrez
Investor · NY · Member since 2019 · 171 posts · 80 votes
4y
My only regret is not starting sooner. If I had started at your age I would probably be on an island for half of the year these days. Definitely grind it out in your 20's. By the time you are 30 you will be pleasantly surprised, as long as you are consistent you will find your own island.

If real estate investing is your passion you can potentially go to school for a degree in real estate such as real estate development and work at the same time. You will just have to manage your time effectively. While not everything you learn in school is applicable, you do learn a lot such as communicating, networking, critical thinking etc. Being educated pays you dividends down the line.

Education is one thing but action will separate you from the rest of the pack. Everyone knows real estate can make you rich, but how many people actually do it? You will need to get out of your comfort zone, go to REI meetups and connect with an investor friendly agent. The rest will be history. Good luck!
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Cody Mitchell
Investor · College Station, TX · Member since 2019 · 40 posts · 25 votes
4y
I would personally get a job in the real estate industry (banking, or as a realtor, construction, or even insurance), and focus on saving. Another huge thing, like everyone else has pointed out also, but I would focus heavily on building a network. Attend local REI events, and just seek to network and learn from other people.
I have a business degree myself but constantly regret going to college and not investing in real estate sooner. Getting yourself a solid W-2 job and then saving to start your investing journey at such a young age could set you up for success much sooner than a college degree. I'm happy to answer any questions you have or help in any way I can. Keep up the ambition, and good for you for finding BP and getting involved in forums so early!
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Richard Hadley
Rental Property Investor · Waterville, ME · Member since 2018 · 36 posts · 19 votes
4y
@Matthew Newsom
Residential multi units
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Ozzy SirimsiBusiness Member
Real Estate Agent · Baltimore, MD · Member since 2016 · 1k+ posts · 782 votes
4y
On thing I can say is Life is not all about making money now.
There is an experience part to it, and college experience is a good one. Just be smart about it, and don't make it a money pit, and continue reading and learn strategies, may be even find a successful investor and try to learn from him on your free time.
People say they dont use their degree but they use that experience in life.
Many people trades holders fail as well. They cannot keep up, dont know how to market their business etc..
and you W2 will help you to start your journey as well.
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Dan SheeksPro Member
Rental Property Investor · Denver, CO · Member since 2016 · 621 posts · 362 votes
4y
Hey @Matthew Newsom!

Congrats on your ambition!

Bigger Pockets recently published a book that's perfect for you! It's called First to a Million. You should check it out! If you have questions about the book, let me know. I am the author. :-) Also, check out this forum post.

In addition, DM me if you are interested in an online community of young, like-minded individuals.

Best of luck to you!
[email protected]Podcast Guest on Show #179
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Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
4y
Stop reading books, stop watching podcasts, start taking action. The best thing you can do is submerge yourself in real estate and be a sponge!
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Boudy Wright
Member since 2022 · 1 post · 0 votes
4y
@Joe Prillaman what is a BP book?
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James Peters
Rental Property Investor · Baltimore · Member since 2022 · 26 posts · 24 votes
4y
NETWORKING ------ go out to your local real estate investment clubs and share your goals with others and listen to what other peoples goals are. You can learn alot and may find someone who will mentor you or assist you in finding the right answers.
No one can answer this for you because everyone starts off with different tools and resources. Some should have went to a little college and others probably should have gotten a job.
my 2 cents
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Matthew Newsom
OP
Specialist · New Market, MD · Member since 2021 · 25 posts · 19 votes
4y
@Sara Frank thank you so much.
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Matthew Newsom
OP
Specialist · New Market, MD · Member since 2021 · 25 posts · 19 votes
4y
@Eliott Elias thank you, but what would the first step be?
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Matthew Newsom
OP
Specialist · New Market, MD · Member since 2021 · 25 posts · 19 votes
4y
@Joe Prillaman thank you man, and you have no idea how excited I am to grind in my 20's.
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Wale LawalBusiness Member
Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
4y
You're Welcome @Matthew Newsom! Keep working hard and reach for your goal in life.
[email protected]832-776-9582 Podcast Guest on Show #469
NETWORTH BUILDERS5236 Reviews
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Joel Case
Rental Property Investor · Ocean Springs, MS · Member since 2022 · 349 posts · 301 votes
4y
I went to college in my 30's because I went essentially for free due to military service. If I were in your position, I absolutely would NOT attend college. You know what you want to do, this is what I would do if I were your age:

-embed yourself in the real estate industry locally
-work as an automotive technician
-save every penny you can
-build your credit
With these steps you should be ready to make a purchase by 21-22. At that point I would purchase a 2-4 unit building or a single family residence (SFR). If SFR, I would personally rent out the additional bedrooms to your friends and colleagues to pay the mortgage, or at least a majority of it.
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Andy Grizzell
Real Estate Agent · Columbus, OH · Member since 2022 · 36 posts · 33 votes
4y
Excellent question - I was just thinking this morning about what I'd be doing now if I started when I was 18. Either way, school/work, you need to make connections. Cold call property owners, ask them to get lunch or buy them coffee. Not all will agree, but some will! Ask them tons of questions and keep the relationship warm! You might even find an excellent mentor!
1 Reply
Olivia Radziszewski
Realtor · Chicago, IL · Member since 2019 · 274 posts · 191 votes
4y
Hi!
Something I have learned the longer I have been in this business is that everyone’s journey is different. I think you can totally get a business degree and be very successful. Building connections and a network is in fact very important and needed to be successful.
I do not have a degree and in hindsight see that it could have been useful in some ways! However, I also am running a successful business without one. I would just sit down and think what is important to you. What are you going to be able to do work wise and make a significant amount of money while you build your passive income? Every career takes years to build. It is rare to jump into anything and be immediately successful. Real estate especially takes time. You are lucky you have stumbled upon it so early in life!

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Matthew Newsom
OP
Specialist · New Market, MD · Member since 2021 · 25 posts · 19 votes
4y
@Seth Samson Thank you.
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