Should I go to a University in a location I want to be long term?

9 Replies

I have a few years before graduating high school, but I want to start looking into colleges. Now, I've been reading some material on real estate investing, and networking seems to be a big thing. During my four years of university, I want to attend local real estate investor meetups and "get connected." I also want to start investing small, while at school, to get a bit of a head start. Meeting people during this phase will make a massive difference, but if I move to another state after my four years of college, most of those relationships won't be important. So my question is, should I pick a college in a state that is better for real estate investing?

Yes, that would be ideal.

@Noah Norton Awesome insight to shape your future. Depending on the college, you're going to meet people literally from all over the world. Also, while in college and depending on the size and location of the school you attend, you're going to realize, a percentage of the properties are owned by someone or entity that's not local. I would say, research a university that bests fits your goals and a location that you will be comfortable in. Your coursework, the people you meet, and your experiences will add to your knowledge base, enhancing your real estate objectives. This response didn't directly answer your question, however it is to show you that there will be amazing real estate opportunity whatever path you walk down... Good luck.

@Noah Norton I wish I looked into real estate while in high school. It's not a bad idea to go to a college in an area you could see yourself investing in. But just because you move from a place doesn't mean the relationships you've built there don't matter. If you went to a college in an area that is great for investing, build relationships with potential key team members, and move after college, you still have those relationships to help you with your investing while you're living in another state.

Now if your goal is to be a real estate investor, we could have another conversation on if college is necessary for that career.

@Noah Norton , You're co-mingling two very different but very important processes that need to stand alone.  You need to go to college where you can get the best education the cheapest.  you need to invest in real estate where you can get the best returns for the type of investing you want to do.  If you try to combine the two you're going to short change one or the other.

The present is always the best time to learn about anything.  So keep at your self education in all things real estate. 

But now is the time to focus on your college education and if you do it the right way it will hurtle you way past 90% of the people you are following here on BP. Here's some simple steps that will set you up to kick land and take names when the time is right for you to start investing.

1. Pursue free real estate education right now.  I emphasize free because you'll never get through the body of free knowledge out there in 10 years.  So there's not point in paying a penny to anyone to teach you.

2. Create investing games and simulations.  Run numbers and then follow your simulation through and see what your returns would have been on a fix and flip you find for sale.  Or what the rents are on a run down buy and hold that interests you.

3. Make friends with real estate professionals.  Volunteer at events that realtors put on.  Go to open houses.  Deliver flyers.  Build a reputation as a helpful earnest reliable young man.

4. Stay out of debt now and forever except for investment real estate.  And do not take that on in any form that attaches any asset except the asset you are borrowing for.  

5. Stay out of debt now and forever more except for investment real estate.  This includes education, cars, clothes, trips and your primary residence.

6.  Pursue dual enrollment right now  with State College of Florida right there in Florida.  Any student in Manatee County who can pass the college entrance exam can take college classes for free from SCF as soon as they are 14.  You're right there now!  

Don't be daunted.  Study after study show that the first two years of college have now become repeats of the last two years of high school.  So at the most you're only a year behind where you would naturally pass that entrance exam.  And I'll bet with a little review class you could pass easily. 

What does this mean???  You have the opportunity to get an AA degree (first two years of college) absolutely free while living at home.  That's a savings of about $50K.  That's $50K you don't have to borrow.  And makes you $50K closer to your first real estate deal.

7. Keep your High school grades up and kick it on the SAT.  This gets you the Florida Bright Futures Scholarship which this year is full tuition.  So guess what - you stick to education now and in a few years you'll start your career about $100K ahead of 95% of the people who are doing the same thing as you.

Boot strapping a career is a noble idea.  But if you do a little math you can tell me which is better.  Work part time jobs to save nickels to buy your first property which gives you $200 cash flow a month.  Or get a free college education.  It would take you about 40 years of landlording that house to equal the benefit you get from getting a free college education.  This is not a pipe dream.  My two oldest sons did exactly this, in Bradenton, Just a couple years ago.  Both got a free AA degree thanks to the State of Florida dual enrollment.  One is now studying for free in the electrical engineering school at UF.  The other is a debt free real estate investor and bohemian hippy like his dad.

Rule of life - never major in minors.  There's a proverb about penny wise and pound foolish for a reason.

Congratulations on knowledge alone Noah! My son is very much like you. He’s a sophomore at Southeast and his mindset is Real Estate Investing!! I could go on and on about where he wants to go with this, but this is your post! Good luck on your journey! My wife is a realtor so our son is constantly looking over her shoulder.. plus driving in the car my son and I are usually listening to the BP Podcast! I love it!

@Kurt Traynor let me know if I can help your family sort through that dual enrollment thing.  It's a gold mine.  My two oldest have 165 university credits between them and we have not paid a penny yet in tuition.  I've got two more on the horizon and believe me dual enrollment is in their future.  

For everyone else check this out in your state.  Many states offer something similar. 

As former college advisor (in Manatee county) and a current real estate investor I can say, with NO hesitation your college education should come first. Deciding on the school that is right for you is a life changer and should be made with no inclination on the real estate investment crowd. You have one of the most powerful communities at your fingertips with Bigger Pockets.

That being said if you want to make a career out of real estate choose a major that reflects your passion.

In every student market you will have access to MULTIPLE property management companies, agents who manage portfolios and leasing offices at apartment complexes. Make working with them a goal (even if for free at first) while you are taking classes. With enough reps in the student rental market, there won’t be much you are unprepared for when you jump into your first deal.

Best of luck young man, and keep the positive momentum going!

Originally posted by @Dave Foster :

@Kurt Traynor let me know if I can help your family sort through that dual enrollment thing.  It's a gold mine.  My two oldest have 165 university credits between them and we have not paid a penny yet in tuition.  I've got two more on the horizon and believe me dual enrollment is in their future.  

For everyone else check this out in your state.  Many states offer something similar. 

 Thanks again Dave.  My so. Is in the IB Program and we’ve been told he can’t dial enroll, however he’s a 4.0 and is crushing it with extra clubs every day after school.  He’ll probably pursue business major with music minor.  After college he can join an orchestra or teach while driving his Real Estate forward as he wants his RE license when he turns 18.  Sorry again Noah for jacking your thread!   Have a killer Friday everyone!

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