Let me start with a little background
>Live in SE Wisconsin
>Dropped out of College in 2015 because wasn’t sure my direction
>4 yrs working full time for family owned HVAC business (730-430 M-F)
-HIGHLY Interested in real estate and land development for 2-3 years
>Last year bought 2, 2-fam lots
-Built/sold 2, 2 fam condos
-Gained capital that I want to reinvest
>Just closed on my 3rd duplex lot going to begin building in May
>Just purchased my first rental property:(Hartford Wi duplex)
-Trying to diversify portfolio
-Paid 200k 10% down
-Rents 850 per side (thinking about upping rents, also want to incorporate a BRRR process)
This is currently where I’m at^. I’m basically at a point where I don’t want to stick my neck out too far while starting out, without proper knowledge/experience. Met with a few great people while networking and searching for mentors. Some suggest I go back to school to apply my current knowledge and build around that with some sort of business/real estate investing classes/courses/certificates/associates degrees.
I currently am reading books, forums, listening to BP podcasts daily trying to gain as much knowledge while still handling my “9-5” and also my portfolio I mentioned above.
I want to keep growing, but I don’t want to get ahead of myself, are there any degrees or programs that I can take to kind of get a better grip on analyzing markets, valuing assets, and gain other essential skills needed for a real estate investment career? At some point I’d be interested in getting my realtor license as well.
If you guys can provide me with any advice I’d really appreciate it. Keep buying rentals with capital and financing & diversifying & building my portfolio while learning on the fly or step back and sharpen some corners in my brain so I go at it with a more fundamental and knowledgeable approach??
Thank you & I love this page/BP community!!
There are no college degrees that can teach you this.
Seems like you are doing very well right now.
You might want to think about, making a bulleted list of what you want to learn, ranked in order of importance.
Next to each one write down if you think it will be hard or easy for you to learn it (some stuff is boring /some exciting).
Then take each item one at a time and start by asking in here, the best way to learn it.
Learn one thing, then move on to the next item.
Because there are some things you don't have to learn, you only need money to pay someone who already knows it such as an attorney, or a CPA or a 1031 exchange specialist, etc...
200k purchase with $1700/ month in rent. Was it a semi new build? That's a sub 1% rent/ purchase. Playing in the midwest markets. 2-3% can easily be obtained. Unsure what you actual question really is, there are many ways to make money in this biz.