High school senior in Pittsburgh... What's the next move?

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High school senior in Pittsburgh... What's the next move?

Nico SavoiaPro Member
New to Real Estate · Pittsburgh · Member since 2020 · 16 posts · 3 votes

I am currently an 18 year old high school senior in Pittsburgh PA! I have been reading and listening to every bit of information I can gather right now so I can make an informed decision on my next move. I have gotten offers from multiple colleges but I am not sure if I want to go the route of higher education if my goal is real estate investing. I have heard many investors say repeatedly that the money they spent on college was a complete waste. I don't have a passion that I am dying to study and dedicate the rest of my life to so I am not jumping on the idea of college at the moment. If I were to go the route of REI without a college education straight out of high school... what are the prospects of that? Everyone on Biggerpockets emphasizes the importance of going out and making your first deal but I am not sure if this concept still applies to a high school senior with very little/ no starting capital because of the obvious limitations.

My current base of knowledge for real estate investing comes from....

abundance of Biggerpockets podcasts

Brandon Turners low and no money down investment book

Rich dad Poor dad book

parents experience with a 2 rental properties

Any advice at all would be greatly appreciated about next steps for my future!

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Dan SheeksPro Member
Rental Property Investor · Denver, CO · Member since 2016 · 621 posts · 362 votes
5y

Hey @Nico Savoia

Congrats to you for your ambition! I work with a bunch of young aspiring real estate investors just like you (in a free online group), and I am willing to help you out with some advice or even chat on the phone if you wish. But first I recommend you read this article I wrote for Bigger Pockets titled How to Invest in Real Estate Before Turning 21. Once you've read it, let me know your thoughts and if you have any questions. I am a high school teacher in Colorado and I am always looking to help young people get started in real estate investing or help in any way I can. Let me know if you want to chat sometime. https://www.biggerpockets.com/..

[email protected]Podcast Guest on Show #179
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  • Julio Garcia
    Rental Property Investor · Modesto/Stockton/Merced, CA · Member since 2020 · 456 posts · 214 votes
    5y

    Get a mentor. Best of luck 

    1Reply
  • Nico SavoiaPro Member
    OP
    New to Real Estate · Pittsburgh · Member since 2020 · 16 posts · 3 votes
    5y

    @Julio Garcia 

    Much appreciated! 

    1Reply
  • Constance Kawa-Small
    Rental Property Investor · Pittsburgh|Detroit · Member since 2019 · 75 posts · 39 votes
    5y

    Hi Nico,

    I’m not as active replying on the forums, but your post totally got my attention!

    1. BIG CONGRATS to you for engaging in learning about RE at such a young age! That alone already tells a lot about your drive and maturity. 
    2. You do have time at your side unlike so many of us who have started investing later on. Mistakes will happen, might as well get them out of the way and learn while there’s not “as” much at sake.

    3. It’s great you’re reading a lot about to go or not to go to college. But I hope you understand this is solely YOUR decision. And as Brandon says, if you’re afraid or in doubt, write it down, crunch numbers, analyze prospects and make an educated, rational decision. Also keep in mind, it’s ok to change your mind later on too!!

    4. Regardless if you go to college or not, since you know RE is your passion, you have a few options to get your foot wet in the RE world to lay a good foundation: look for a job or internship within the industry! Heck, you might even ask to shadow your parents and their 2 rentals if you don’t already! Are you attracted to flips and rehabs? You might want to get a job tagging along construction. Do you like buy and holds better? Look for opportunities with property management companies. Do you like the wholesaler quick turnaround style? You could offer to drive for dollars or do other local leg work to bring deals to investors that can’t or won’t. David Greene emphasizes this a lot, the best opportunities lay in identifying problems that others have but you might be able to solve when they can’t or won’t. 

    Much success to you!

    1Reply
  • Nico SavoiaPro Member
    OP
    New to Real Estate · Pittsburgh · Member since 2020 · 16 posts · 3 votes
    5y

    @Constance Kawa-Small

    What a great response! I love that you repeated the words of Brandon and David because I often forget those valuable pieces of information when I am trying to consume as much as possible. Thank you so much for the personal advice as well.This was a very valuable post and I will reference it many times as I make decisions in my future. 

    Best,

    Nico

    1Reply
  • Dan SheeksPro Member
    Rental Property Investor · Denver, CO · Member since 2016 · 621 posts · 362 votes
    5y

    Hey @Nico Savoia

    Congrats to you for your ambition! I work with a bunch of young aspiring real estate investors just like you (in a free online group), and I am willing to help you out with some advice or even chat on the phone if you wish. But first I recommend you read this article I wrote for Bigger Pockets titled How to Invest in Real Estate Before Turning 21. Once you've read it, let me know your thoughts and if you have any questions. I am a high school teacher in Colorado and I am always looking to help young people get started in real estate investing or help in any way I can. Let me know if you want to chat sometime. https://www.biggerpockets.com/..

    [email protected]Podcast Guest on Show #179
    3Reply
  • Nico SavoiaPro Member
    OP
    New to Real Estate · Pittsburgh · Member since 2020 · 16 posts · 3 votes
    5y

    @Dan Sheeks

    Fantastic! I just finished your article and soaked up every bit of information in it. I promise that you will be hearing from me in the future! Thank you for taking the time to help educate others with all the information you have! It is greatly appreciated.

    1Reply
  • Aigo Pyles
    Flipper/Rehabber · Memphis, TN · Member since 2020 · 758 posts · 285 votes
    5y

    Join real estate networks in your area and get a mentor. 

    All the best!

    1Reply
  • Nico SavoiaPro Member
    OP
    New to Real Estate · Pittsburgh · Member since 2020 · 16 posts · 3 votes
    5y

    @Aigo Pyles

    Great! Should I do this through BiggerPockets? I am not sure how to find quality real estate meets in my area.

    Thank you for the response.

    0Reply
  • Alexander Szikla
    Real Estate Agent · New York City · Member since 2020 · 818 posts · 639 votes
    5y

    You're totally on the right track, however, I would say still go to college!

    With that being said, if I were you, I would look into getting my RE license. Wish I had done it when I was younger. You have the time right now, it is flexible so you can balance it with school work and the start-up costs are quite low. 

    It will give you access to deals and help you learn with other people's money while providing income to use as a down payment! 

    3Reply
  • Nico SavoiaPro Member
    OP
    New to Real Estate · Pittsburgh · Member since 2020 · 16 posts · 3 votes
    5y

    @Alexander Szikla I haven't thought about becoming a real estate agent before but I will definitely consider it moving forward. Is it possible to make money being a real estate agent right off the bat at such a young age? I am also worried people wouldn't trust me ( or I would be afraid to poorly advise someone) since I am so young and just starting.

    Thank you for the reply!

    0Reply
  • Alexander Szikla
    Real Estate Agent · New York City · Member since 2020 · 818 posts · 639 votes
    5y

    Well, I understand your hesitation but the journey of a thousand miles starts with the first step. 

    You may not know anything now, but you will in a year! So whether you start at 18 or 48 you are starting at the "same place". Over time, if you deliver, you will cultivate relationships and a reputation for yourself. It is also a good way to find a mentor whether it be another agent/broker or an investor. 

    Practically speaking, you might have to start out with rentals at first before building yourself up - but patience is a virtue! 

    1Reply
  • Nico SavoiaPro Member
    OP
    New to Real Estate · Pittsburgh · Member since 2020 · 16 posts · 3 votes
    5y

    @Alexander Szikla Excellent! You make a very strong point.

    0Reply
  • Hansel Akers
    Realtor · Philadelphia, PA · Member since 2017 · 16 posts · 12 votes
    5y

    @Nico Savoia - I say go to college AND invest in real estate.

    I know schools around Pittsburgh have great opportunities for real estate investing (and low prices) which can be incredibly lucrative for house hacking... buy a place at school, rent out all the additional rooms. You’ll be able to hold onto that place forever after you leave!

    Just my .02.

    You are miles ahead of how I was thinking at 18. Congrats on your grind and good luck (you won’t need it).

    -Hansel

    3Reply
  • Allen L.
    Rental Property Investor · San Francisco, CA · Member since 2018 · 12 posts · 8 votes
    5y

    Hey @Nico Savoia, I really admire your motivation and drive towards REI! One question I have for you is... putting real estate aside, would you want to experience the college life? For many, college is not only where one gains specialized knowledge but also where one figures out themselves and builds life long friendships/relationships. If there's any part of you that wants to experience that, this is the time to do it. While it's true you can always go back to school later on, it's harder to do so once you've left the academic setting. It's totally up to you of course, and there's no right or wrong answer. And regardless of which path you choose, if you're passionate enough about something (which it sounds like you are!) you're going to find a way to make time to do it. I have a full-time day job which pays the bills, but I also work as a real estate agent and invest in rental properties. :)

    And on the real estate agent side of things, it’s going to be hard when you first start out. It’s all about finding your first clients and having the right support in place (mentors, your broker, etc) to help you get through those first few transactions. You’re going to learn a lot in every transaction, but once you’ve gotten those first few under your belt, you’ll start to get the hang of things and become more knowledgeable and confident in front of your clients. 

    Hit me up if you want to bounce any of your thoughts and ideas!


    0Reply
  • Jim K.
    Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
    5y

    Nick, read my profile and send me a message.

    0Reply
  • Jabbar Adesada
    Rental Property Investor · Beaufort, SC · Member since 2020 · 119 posts · 98 votes
    5y

    @Nico Savoia

    @Nico Savoia

    I wouldn’t complete write off school, going to a cheaper local community college is a cost affective way for you to still obtain your higher level education while still using your free time to crush your real estate investing goals. Imagine where you want your life to be and why you think real estate will help you get there. Set goals! Learn as much as you can about all the different concepts in real estate on a surface level, then start to dive deeper into the strategies that will help you accomplish your goals. Structure your focus in a way where you are trying to master a specific niche. And know where you are at right now. Maybe you want to buy and hold small to mid side multifamily and need capital. You’ll need capital, even if you have everyone else’s money you need your own capital. Ways to get capital: Flips, Wholesales, agent commission, side hustle, or even a good paying W-2 job. Maybe you just want enough cash flow to be financially free? You’ll need some income to qualify for residential mortgages and it’s much easier with a W-2. Your plans might change, but as long as you pick a direction and stick to it you’ll kill it!

    Build organic relationships with people who are where you want to be, get as much actual experience as possible as soon as possible, you can intern, try and find a job in the industry or apprenticeship! Just figure things out backwards from your goals and your solution will be more clear. To answer your main question you can invest right after high school as a young person, I just bought my first property and I’m 19 and I know others doing or have done deals at 18. So it is posib

    2Reply
  • Joe S.Pro Member
    Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
    5y

    I’m not saying you should or shouldn’t go to college, but for many people they want to go to college after they miss the most convenient time in their life to do so. 

    1Reply
  • Jason Papp
    Rental Property Investor · Pittsburgh, PA · Member since 2019 · 59 posts · 16 votes
    5y

    @Nico Savoia Have you considered getting involved in the property management of your family’s units? Great lessons to be learned there.

    1Reply
  • Nico SavoiaPro Member
    OP
    New to Real Estate · Pittsburgh · Member since 2020 · 16 posts · 3 votes
    5y

    @Jason Papp I have and try to get involved as much as possible! 

    0Reply
  • Jason Papp
    Rental Property Investor · Pittsburgh, PA · Member since 2019 · 59 posts · 16 votes
    5y

    @Nico Savoia very nice, that experience definitely puts you well ahead of 90% on investors at your age.

    1Reply
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