I need advice

Real Estate Consultant · Globally · Member since 2019 · 54 posts · 37 votes

1y

Hey Musu, first of all—respect. You’ve clearly put a lot of thought into your path, and that kind of long-term vision is rare, especially at your stage in the game. I’ve been in real estate for over 30 years (I’m a third generation real estate consultant), and I can tell you: the industry rewards those who combine strategic thinking with practical experience—and you've already got both in mind.

At eXp Realty, I train agents not only how to sell real estate, but how to invest in it, build wealth through ownership, and create other multiple streams of income that go beyond just commissions. So when I hear someone like you say, “I want to learn the business, earn passive income, and then invest in other ventures,” I know you’re on the right path.

If you’re seriously looking to be mentored as an agent and learn investing, let’s connect. I’d be happy to share more about how we train agents at eXp to build long-term wealth and help others do the same. You’ve got the right mindset—now it’s just about getting the right guidance and environment.

0 Reply

Jules Aton

MD/DC · Member since 2024 · 1k+ posts · 1k+ votes

1y

I’m torn because I also believe having a degree makes one more marketable in the workplace but just going to school to go to school can be a time and financial waste. If you were fairly certain you wanted RE to be your career I might feel differently but In your case I would consider a business track at university while pursuing RE. The knowledge, connections and degree itself would give you a solid foundation while earning money and learning the ins and outs of RE. Best wishes with whatever you decide.

1 Reply

Chris SeveneyBusiness Member

Moderator

Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes

1y

Quote from @Musu Dahn:

Hey, I'm Musu. Right now, I'm at a two-year college, and I'm thinking about becoming a real estate agent. My plan is to finish my free community college and then find an internship in Massachusetts to learn from someone for a year or two. After that, I want to go off on my own. The issue is, my family is totally against this. They really want me to go to a university because they care more about the Degree. I get it; they come from a background where higher education is a Privilege and they didn't get that because they had the opportunity and they Fooled around and got me, and they worry about me not making it And making the same mistake dated, but I don't think I am because at this moment right now I'm only focused on what I want to accomplish within the next 5 to 10 years and plus that’s just not the route I want to take.

I don’t plan on sticking with real estate forever; I actually want to buy a few businesses instead of starting one from scratch. I want to get into real estate to learn about selling, owning, and managing properties, although I plan to have someone manage those properties for me. But for now, I want to know what I'm doing. Eventually, I hope to start my own tech company. My idea is to get into real estate first, own enough properties to earn some passive income, and then buy a business that's already doing well. I'd also like to invest in a few properties and other people's businesses for a share of their profits.

I have a lot of goals, but my parents think I should ditch this plan and go to a four-year university instead of getting hands-on experience by working under someone for a year. I could really use some advice because I’m feeling stuck and could use some help figuring out where I might be going wrong with this plan. I've had the same mindset for almost five years now, and my career path hasn’t changed. But with all the criticism I’m getting, I’m starting to think maybe I should just do what they want, even if it’s just to make them happy. And that doesn’t feel like me at all. I’m currently looking for anyone willing to take me under their wing and give me the hands on experience.

There are people who are for and against higher education. Each person has a different scenario and personality so take the opinions here and think about them. I will share my story where I was always entrepreneruial, BUT was not mature enough when I was your age to ever be successful. I first needed discipline, which I believe 4 years of college gave me then I worked for a large firm who had awesome people. I learned a ton of knowledge about how to run a business, how to be professional and how to be mature. It took me 20+ years to start my own business which of course everyone says they wish they started earlier but I really do not regret it as the life lessons and people I learned from over the years is a big part of what made me successful.

At the end of day, you need to do whats best for you, but I would talk to your family and get an understanding WHY they are so strongly opinionated about having you go to school. For me my parents were strong for it as they new I needed it to mature and grow as a person and was not ready for the real world. And... They were right.

7e investments53 Reviews

Website View Page

2 Reply

JD MartinBusiness Member

Moderator

Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes

1y

No one can tell you what you should do. From your post I agree with your parents because your "strategy" sounds like scattershot to me. But you have to wake up every day and live in your skin, so you'll have to figure that out.

What I will tell you is this: I came from a total blue-collar existence. No one went to college - hell, no one even finished high school. I was never going to college. I went to the Navy instead. But eventually, I found myself in college, it was a great experience, and I ended up with a PhD after many years. Not once have I ever regretted investing education into myself. The RE "empire", such that it is, that I bought was bought with money I made from having a good career thanks to my education.

Podcast Guest on Show #243

Skyline Properties

View Page

0 Reply

Alecia LovelessPro Member

Member since 2019 · 3k+ posts · 2k+ votes

1y

@Musu Dahn One of the best experiences of my life was moving far away from home and being on my own for the last 2 years of my college education.

I wouldn’t rule out this type of opportunity if I were you. If you’re in MA there’s tons of places you could go to finish the final 2 years of your education that would be relatively affordable, especially compared to MA.

In many places you could also simultaneously earn your real estate license and work part time while you finished your education.

I took all my classes on Mondays and Wednesdays and then used the rest of my week to travel around New England primarily while I was finishing school in Manhattan.

The opportunities are endless. But I feel it’s important to have a degree and the life experience that comes with schooling. If I were you I’d consider my options for working towards my real estate goals while finishing my education.

0 Reply

Charlie MacPherson

China, ME · Member since 2014 · 3k+ posts · 4k+ votes

1y

As a former Realtor, now Business Broker (5 years+), I have experience with both being a Realtor and helping people buy and sell businesses.

Real estate is a hard way to make a living. My experience was that it took 5 years of grinding before I started getting referrals and repeat business. I did just OK income wise.

Plan on paying for ALL of your own expenses. Business cards, yardarm signs, open house signs, marketing expenses (Car expenses, Zillow, Realtor, mailing postcards, contact management software, Google ads, social media ads, desk fees, tech fees, NAR membership, MLS fees, etc). In my best year, my expenses were 42% of my gross income.

Buying a business can be a MUCH better idea. But know a few things going in:

1. You'll probably use an SBA (Small Business Administration) loan. Those require a 10% down payment and <$10K in closing costs. You MIGHT get some help with seller financing, but don't count on it.

2. You must have meaningful, relevant experience in whatever business you're looking at or you won't get a loan. Especially in restaurants and motels. Being a waiter or housekeeper won't cut it.

3. Connect with SCORE.org. That's the Service Corps of Retired Executives. A free service of the SBA. They can help you with thinking things through and even writing your business plan.

4. Don't bombard your business broker with requests for information until you're prepared to move forward. Get pre-approved for a loan with an SBA lender to show you're serious. When you send inquiries, don't leave fields blank. Provide your full name, phone number, real email, when you plan to buy, etc. If you don't, I won't take you seriously.

5. Understand that business brokers are swamped with un-serious and unqualified people. I think I get about 30 inquiries for every 1 that is ready, willing and able to transact. That means I spend a LOT of my time ruling people out.

6. Realize that you are probably buying yourself a job. Be prepared to work HARD at it - and start out with the end in sight. What's your exit plan? Pass it on to the next generation? Retire at 50 years old and sell the business for a big profit? Work until they carry you out feet first? Whatever it is, keep that goal in sight.

7. Keep your business ready for sale. Do NOT make a habit of sticking unreported cash in your pocket. That $10,000 cash you pocketed might have saved you $2,000 in taxes. But when your business sells at a multiple of 3X net earnings, that's going to cost you $30,000 in your asking price. I have walked away from several businesses because their books were more than questionable. Keep yours squeaky clean.

Good luck in whatever you decide!

1 Reply

Musu Dahn
OP
Member since 2025 · 2 posts · 2 votes
1y
@Charlie MacPherson thank you for the advice I will keep everything that you have said in my notes and move forward if it wouldn't be much trouble, I would love to learn more from you if you are willing to teach me
0 Reply

Samuel Eddinger

Meriden, CT · Member since 2018 · 698 posts · 500 votes

1y

@Musu Dahn - welcome to the start of adulthood. I went to college and unlike a lot of my peers who commented above, am actively discouraging my kids from going to college. The easiest way to make a lot of money (it will not be easy) is to go into the trades and start a plumbing company, HVAC company, electrical company, etc.

I went the four year approach and got an engineering degree. I did that for 14 years before quitting and starting a property management company in CT.

Entrepreneurship is the hardest thing I've ever done but also the most rewarding. I'd love to tell you my journey and answer any questions you may have. If interested, DM me.

0 Reply

I need advice

I need advice

Most Popular Reply

8 Replies