College Student in Chicago eager to learn more about Investing!

New Member Introductions 6 Replies

Hi there,

I wanted to introduction myself to the BP community. I just finished my sophomore year at DePaul University in Chicago, Illinois. I am majoring in Real Estate and minoring in Marketing. I am working as a Leasing Agent currently and am in the process of studying to get my Broker's license. I am looking to network with investors new and seasoned to learn more about the business. I am very excited to begin my investing career. Cheers!  

@Dana Alfirevic ,

One of my mentors graduated from DePaul with a major in IT and a minor in entrepreneurship. He paid over $100K for his education. He worked 8 months in IT and was laid off. These days he uses his minor more than his major. 

He has since made around $3.5 million in 10 years using his minor (in real estate and related activities).

Food for thought ...

Originally posted by @Van Blackman :

@Dana Alfirevic,

Congrats for joining BP! 

Let me know if you have any specific questions. I'm here to help!

Good luck with school!

Thanks,

Van

Thanks Van! I guess my specific question is what can I do to get started? I have been reading the forums here, reading other books about Real Estate investing, going to Networking events and trying to build a network. I am interested in actually participating in deals, although I have no capital or experience. Especially since I am so young and still in college, I'd imagine it would be very hard to find a partner on a deal. Any recommendations? 

Originally posted by @David Dachtera :

@Dana Alfirevic,

One of my mentors graduated from DePaul with a major in IT and a minor in entrepreneurship. He paid over $100K for his education. He worked 8 months in IT and was laid off. These days he uses his minor more than his major. 

He has since made around $3.5 million in 10 years using his minor (in real estate and related activities).

Food for thought ...

David, that's great to hear! I have actually considered taking up another minor in Entrepreneurship. I am a member of the Entrepreneurship fraternity at DePaul and I really enjoy being apart of like-minded individuals.   

@Dana Alfirevic ,

I'd recommend trying to wholesale a few deals and see how it works for you. There is a lot of upside:

1. First, it will get you a lot of exposure to the business with minimal to no risk. You're not necessarily putting a lot of money out to secure a deal, and if you can't resell to an investor, then you can cancel the contract - no harm, no foul. My point is, you don't a whole lot of money to get into the wholesale game. But it does take effort, patience and persistence.

2. The second advantage of wholesaling properties is the knowledge and experience that you will gain. When you're wholesaling properties to investors, you're doing all the work to locate a property yourself. This skill will come in handy later in life when you're ready to start buying investment properties for yourself. You'll learn how to find off-market deals, you'll learn about RE contracts and assignments, and you'll learn how to negotiate with sellers, among many more things. All valuable skills that you will use down the road.

3. It will build your network. By being in the wholesale business, you're not just exposing yourself to deals, you're exposing yourself to deal-makers. In the RE business, your contacts can literally be the difference in tens of thousands of dollars for you. By being active within the community, even as a wholesaler, you will be meeting people that can further your RE career down the road.

4. It is lucrative - there's a lot of money to be made if you know how to find great off-market deals. Every investor I meet says, "Man, the market is really competitive right now. It's tough to find a deal." That's where you're service comes in handy. If you can build a reputable wholesale business, finding the buyer will never be an issue. Your product will sell itself.

Ultimately, wholesaling could be a very good educational tool for you without risking any money, and gaining a fountain of knowledge and experience along the way. I would recommend it to any young aspiring RE investor with little money or experience.

Hope that helps! Let me know if you need more info!

-Van

Van Blackman, NetWorth Realty | [email protected] | 713.301.7630 | https://www.networthrealtyusa.com

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