Full time student, no W-2 job but want to start investing

5 Replies

I am a new disciple of Bigger Pockets. I am new to real estate investing so I am in the education phase (reading books, following BP forums, listening to BP podcasts/webinars, etc.). However, I want to start taking action. I want to start investing in real estate. Preferably buy and hold SF (for starters), but open to learn about wholesaling and flipping. I am a full time law student in the Dallas Fort Worth (DFW) area therefore, I do not have a W-2 job which would make it near, if not completely, impossible to get a bank loan. Question: What do you all suggest I do to get started in real estate? Or what should I be doing now? (And any other advice you would give someone in my position)

@Byron Bailey I would look to intern with a real estate law firm and put your law degree into action.  Real estate attorneys help minimize risks, maximize returns, advise on property taxes, understand tenant rights, implications of lease agreements, etc., etc.  Understanding the legal components of real estate transactions will give you an edge on your competitors.

If you have some liquidity and are willing to look at BRRR type activity there are loan programs for you if you have good credit. The one that jumps to mind is a no doc type loan while the terms are not as good as fannie mae conventional it would allow you to finance/ refinance a property based on its value and rents to offset the mortgage. Typically they are 30 year term, 3/1 ARM , at 7-8% interest. Best of Luck.

What you should do for now is concentrate on your education and following that concentrate on establishing your career. Investing is not a race and you have the rest of your life to get into it.

Get your priorities in line. If investing is that important quit school, get a job and start working to establish your w2 history.

Hi @Byron Bailey ,

One great way to start meeting with wholesalers is to call the phone numbers on bandit signs. Tell them you're in Law School and you want to get into REI and can help them with your area of expertise.

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