Advice for a 20 year old college student looking to get into REI

Advice for a 20 year old college student looking to get into REI

Cincinnati, OH · Member since 2015 · 81 posts · 24 votes

I am a college student in the detroit suburbs looking to graduate in a few years. I do not have crippling student loan debt, but expect a small amount. Something in the ball park of 10k, probably. I am majoring in finance, and will probably end up as an analyst or something. I really want to own a real estate investing business instead.

I want to get into real estate investing as soon as possible. I only have about 3k in my bank account at this point. I believe I am lacking the funds to start investing, unfortunately. I really don't know anyone that's investing personally, so I can't even break in that way. Also, I'm really not that "handsy", and able to work on plumbing, electrical, ect. It's almost as if I have nothing to offer.

On top of that, I am unable to land an internship related to my career interests. This makes me nervous for when I graduate and try to find a full time job. This makes me want to start my investing business as soon as possible.

I'm really just looking for some guidance and advice. Any advice about anything would be appreciated. Thank you.

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  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
    9y

    Come to my REIC meeting on Tuesday in Ann Arbor.  Start there.

    Your Finance background will help a little, but most Finance taught in school has little to do with REI.

    You need to approach this as if you are starting from scratch...and learn, network, and learn some more.

  • Attorney / Multifamily Investor · Houston, TX · Member since 2009 · 173 posts · 136 votes
    9y

    Look for a mentor or partner who will let you trade sweat equity for a piece of the deal and the credibility that goes along with it. Learn the business as you go. 

    There's bound to be some successful investors on BP from Detroit. Reach out to them and ask how you can help them with their business. 

  • Keyonte SummersPro Member
    Harper Woods, MI · Member since 2017 · 384 posts · 311 votes
    9y
    Hey I'm still in college in my 20s and invest in Michigan. If you start saving for future deals that would be good even consider house hacking for your first property. You could get down payment assistance since it's your first home. Maybe a duplex or triplex . Maybe mentor anaylzde deals for other n make commission if they buy
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