I'm sure a couple of young grads and aspiring investors can relate."Not wanting to go/stay in the corporate machine, as life as an investor and entrepreneur is more rewarding in every single way".
I graduated in May of 2015 and spent months looking for a job, reluctantly I might add. I graduated with a Finance Degree. I got a couple low paying jobs to meet my monthly needs in terms of paying bills then eventually I got into coaching soccer full time which pays me a good dollar amount per hour and affording me tons of time to learn RE, Network and Drive for dollars to scope out properties and get a feel for markets.
Although my dollar amount per hour is good and helps me cover the bills, there tons of off time during the year which makes it hard to take it full time. Unless I would open my own soccer business which isn't something I'm looking to do in the near term.
I don't feel that I'm making enough money nor do I feel that chasing another job will make a huge difference in the amount of money I can save. Sure If I get a second job, I can easily save about $1500-$2000 a month for marketing a campaign but it still would take me YEARS before I can save for a down payment and have a bit of a safety net. Not to mention my sanity of working two jobs trading time for money and having little time to stay connected to RE.
I read a post on here in which somebody made a good suggestion. He said that instead of chasing income, why not seek an apprenticeship to bird dog, build connections and learn how to be RE Investor. To me that sounds like great idea even though it doesn't boost my income in the beginning. I've made some connections so far. And I would say I have built a very good knowledge base in terms of Calculations, Market Analysis, Strategies, Tax laws and a tiny bit on the what certain rehabs and construction can cost.
SHORT TERM GOAL (NOW - 5 YEARS): Build Capital through Wholesaling and Flipping Properties
LONG TERM GOAL (4-8 YEARS) : Invest in Large Multi-Family Units (Syndication Deals)
What are your thoughts?
If any of you have some Apprenticeship stories that you can share, I'd love to hear it!!
Thanks in Advance
Here is one to get you started.
Wow that is an incredible story! If you don't mind sharing how you met him, how he qualified himself to you as someone who is serious and someone you can trust to underwrite for you and bring on into your operations.
I was looking for the interview with him and Joe Fairless and I'm struggling to find it. Thanks in Advance.
He was on Joe Fairless 401, I was on 47 and 424.
@Pierre Decoste - I have a heart-warming apprenticeship story for you. I work on Jeff's management team and you can hear all about how I met him and how awesome he is on the Joe Fairless show ep1038.
Thank You guys for your responses, I’ll check out the podcasts now. I listened to Nick’s story last night. The kid was in school analyzing portfolios to invest in. Better than any internship I’ve had or heard of loll
I found a mentor who’s going to help me wholesale and flip deals. I’m brining in 5000 for a marketing campaign and he’ll provide the criteria, the the team that pre-qualifies the leads and we’ll split anything made off of it 60:40. I’m stoked!!!
@pierredecoste how’d you find the mentor? I’m looking for something similar to what you’ve found
@Hernell D. I looked for members in my area through BP and Instagram. I followed them for a bit and reached out to them for lunch, talking to them and picking their brains. Go to REIA's and meet guys who are doing what you want to be doing and offer value.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.