College or no college? No experience. Need guidance.

College or no college? No experience. Need guidance.

Grand Rapids, MI · Member since 2016 · 9 posts · 4 votes

I have been up all night, researching. Successful people, tips, college options. Everyone has an opinion, but I can't be confident in making a decision without speaking to someone personally. I can't remember the exact title, but the college route I would take would be "Business in science of real estate investing". 

I am interested in college so that I could learn the basics, terminology, all the rules in real estate and investing, etc. I could get a job in this field where I could continue to learn and make good income to put into this dream of mine. But is it worth it? Could I learn just as easily from personal research and following the path laid out from people who have already done it? Could I also get my real estate license to use as a tool? What is the most efficient or beneficial option? 

I know this is not a "get rich quick" endeavor. It is going to take a lot of hard work. But I feel time slipping away, every moment is precious to me and I don't want to waste valuable time when I could have made a more logical and timely choice.

I'm dying to meet with someone who knows what they're doing. But I have no idea who I would even look for. A realtor? And how do I go about asking someone to give me their time? 

I am 25 years old. The only job experience I have is 4 years of management at Little Caesars. I have an amazing work ethic and a HUGE determination to get into real estate investments with the goal of achieving multi family homes. I am a new mom who now sees the path that her daughter could be heading down; broke, living paycheck to paycheck and breaking your back to fill someone else's pockets. 

Like any parent, I don't want my child to ever struggle the way her parents and grandparents have. But I'm am filled with a blazing determination, confidence and resolve that I am about to break that cycle and WILL NOT let that happen to her. 

Please, someone point me in the right direction. 

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Lender · Syracuse, NY · Member since 2016 · 165 posts · 92 votes
10y

@Chloe Landon      I have a client who is a millionaire just 7-8 years following a rough divorce.  She took the little money she had and began on the very journey you are contemplating.   In her case, she had no other options.  She also had no choice but to succeed.

As you know - no one can know the real you so our advice shouldn't weigh too heavily on your decision.   Look hard inside yourself and ask "Do I have the determination to succeed at this? Can I really focus ALL OF MY attention on growing my business right now?"

Time is not slipping away.   You didn't miss any starting gun.   Get over the anxiety of needing to accomplish something and focus more on being happy.   When you choose what makes you happy (and work tirelessly toward it) - you'll succeed.  Promise.

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  • Developer and Investor · Star, ID · Member since 2016 · 23 posts · 24 votes
    10y

    Great thread with lots of thoughtful advice.  Based on what you've mentioned I would suggest that you get a real estate license and revisit college after working in RE as an agent for 24 months.  Your post implies that you want a career in real estate and a college education is not necessary to have a rewarding and successful career in real estate.  However, you may determine after working in the business for a couple of years that it isn't the career you want after all and college might make great sense at that point.  

    There are likely many good RE brokers in your area that would love to have a hard working, hungry, new agent in their organization and will provide some professional support and mentoring.  One of the wonderful things about RE is that very few people care at all about your education, in fact ultimately this business is mostly about what you have done or can do.  Good or bad, it is easier to get a RE agent license in any state in the U.S. than it is to get a cosmetology or barber's license.    I wish you good luck and based on your post believe you have a great chance to be very successful in this business.

  • Real Estate Investor · Rancho Santa Fe , CA · Member since 2016 · 323 posts · 107 votes
    10y

    Hi @Chloe Landon, well ill share my story, I went to school UCSD International Business and I got a master in real estate from Wharton and I work few  years in private equity as a investment analyst and did well and open a consulting firm for  medium and small private equity and joint venture investors in southern California, I have all this fancy college and had a great background and I done it all I was realtor in college, as well as property manager and analyst and now I flip and build projects you name it, so that's me then I have a very smart partner who came to America from Israel with about $2000 bucks and didn't know English he was 20 years old working double shifts and over night he saved and got his citizenship got loan and flip his first house and his business grew wholesaling multifamily complexes in east coast and now we are both in our very late 20s year shy of 30 birthday and thankfully we have company with about 190 units multifamily and we individually own a lot of property and try to flip 15-20 homes per year, so no matter what route you take belive in it hard work and when you think you are tried and cant take it anymore do it for another 5 hours if you really want to be successful you cant quite and you can think this is so hard just do it till you see results and everything in between forget it don't program your mind into thinking its hard or what is best just do something, please PM I love to help a  young mother with any info I can.

  • Grand Rapids, MI · Member since 2016 · 9 posts · 4 votes
    10y

    Thank you all SO MUCH for taking the time to respond to me. This week has been hectic. Got a new job as a server and I think I will be making pretty good money. Shifts here can last only 3 hours and I walked out with $70. Looking for a morning serving job to add to that. Overall, I could only be working 30-40 hours a week and almost doubling my previous income. (Why didn't I do this before?!? Lol) 

    Anyways, let me collect my thoughts, I need to write a schedule out for work time, baby time and brainstorming "dream" time. I will get in touch asap. 

    I admit, I have to condition my brain to start treating RE brainstorming as business and not just a hopeful hobby. I have a habit of not investing enough time into things that don't give me immediate results. WORKING ON THAT. :)

  • Grand Rapids, MI · Member since 2016 · 9 posts · 4 votes
    10y

    I just realized there are not one, but TWO pages of responses. You guys have given me the chills. Again, thank you all SO MUCH for taking the time to reply. You have no idea how much it is appreciated.

  • Ann Arbor, MI · Member since 2015 · 31 posts · 8 votes
    10y

    FYI, getting a real estate license in Michigan may not take much, but in order to actually practice will mean you will need to be with a company and the cost of doing that business is about $2K to start.  It's a costly business to be in.  Trust me, I'm a realtor and the time it takes to learn this business is no less than a year and a lot of dollars later.

  • Fayetteville, NC · Member since 2016 · 50 posts · 29 votes
    10y
    A few simple notes. No college is not required to be successful. You will probably not use what you learn in college in your actual career choice. With this in mind though, to the general public the idea of a competent person means you have a degree. Go to college for the simple fact that it gives you a boost in perception to other investors. Just my 2 cents
  • Real Estate Agent · Grand Rapids, MI · Member since 2014 · 493 posts · 200 votes
    10y

    As someone that has employed folks for over 25 years--I recommend getting the degree.  Just showing passion for self-improvement, education, etc. is something I have always looked for...and it's good as a back up plan in case everything else falls through.  I remember my brother-in-law telling me (when I was thinking of dropping out of college) that "just finish it Clay, I have a master's in education and have never used it--but I got the job I have now because I was the candidate that had a degree."  He had a VERY successful career in pharmaceutical sales and sales management, etc.--no relation to his degree whatsoever.  (He did finally teach--after he retired--and loved that as well.) @Sarah Lorenz hit the nail on the head with the rest of what I would say.

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