Steps to take while still in school

2 Replies

I will be graduating college in May of 2020 with a degree in Engineering. I am very interested in REI in order to start building passive income as soon as possible. I'm not sure exactly where I'll go after graduation but it could in theory be anywhere in the US. I'm most interested in house hacking to start and transitioning to more rental properties(especially small multi family).

A while back I heard the BP podcast talk about the “wash the truck” analogy and I loved the idea of those small achievable actionable steps. I read fairly regularly and listen to several podcasts.

What are some other actionable steps I can be taking now? Once I graduate and settle somewhere I plan to begin investing but in the meantime I’m trying my best not to remain idle. I figure education is probably the main thing I can work on but are there any specific concepts I should be diving into?

@John Hunt Before I even read the post, I was going to recommend house hacking, so I'm glad to see you are thinking about it.

So your next steps should be to keep on learning and absorbing information, attend meet ups to build up your network and learn from experienced people. I would then research and identify a market that you want to be in and start studying it so when you are ready, you can move on it right away.

Just before you are ready, I'd build a team in that area that consists of a Realtor, Property manager, CPA, Attorney, Lender, etc.

@John Hunt I'd figure out what market you're interested in and figure out what factors to use there when running numbers. Then start running numbers through your system and check with local investors on if you're doing it right. You'll be super empowered when you can tell if something is a deal or not. I use property tracker as a simple way to run them in my market!

The one-stop-shop for REI
Find Local Home Improvement Pros!
Check out our network of trusted, local contractors for all of your home improvement projects.
Find a Contractor