Dropping out of school to pursue RE

Member since 2021 · 2 posts · 1 vote

Hi I am a 20 year old college student majoring in MIS. I have already done 2 years and I hate college and I don't see my self working in a career field related to my major or any major. I am thinking about dropping out and going back to my full time job back home and living with my parents. I was making around 42k a year at my job and pay no bills. I also have an amazing Credit Score which I know is very beneficial to my RE career. I am planning on working full time for the next couple years while doing freelancing on the side until I get enough money to start investing in properties and possibly even Airbnb investments.

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Marshall Leipprandt
Real Estate Agent · Miramar Beach, FL · Member since 2016 · 285 posts · 245 votes
3y
@Biftu Jiru If you finish school, what would your projected income be afterward?
I'd finish school, get a solid paying job, keep your bills and expenses low and start saving for a house. Keep your credit good and house hack your first deal when you are qualified enough. I'd say that you need a decent 5 years to save, invest, and build credit in order to even consider quitting your job and going full-time in real estate. Living off cash flow is possible but it takes a long time to get to that point. Also, keep in mid that when you no longer have a W2, it will be much more difficult to get loans for new properties. I am going through that process now personally.
For reference, I finished college and spent 6 years in a career before going full-time as a realtor, investor, and property manager. I am glad I did what I did. Quitting my W2 2 years ago would not have been enough time to build the capital and strong financial position needed to invest in RE from a position of strength.
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Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y
Real estate is not for the faint of heart, it's a field full of killers and sharks. Not for everyone, but could be for you
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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3y
Quote from @Biftu Jiru:

As 100 people and get 100 opinions. You have to evaluate what is right for you. Real Estate investing is a legitimate option, particularly if you are smarter than the average bear and work harder than the average person. You'll need a job that provides stable income and you'll need financial discipline. You can have both of those, and all the information you need, in less than two years.
Just one example:
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