Investing In College

Investing In College

Sacramento, CA · Member since 2017 · 40 posts · 9 votes

Hello all at BP! 

Currently I am nineteen years old unemployed and attending college for the second year. I do have money saved up but all that is going to rent to keep a roof above my head. I am so eager to invest, but I worry that if I started investing now (keep in mind I have little knowledge in real estate and have no money to put down) I will run into problems and I don't think I can afford that. 

My first step to answering my question "how can I make a deal and succeed without having to worry about financial issues?" is to get Brandon Turner's book on investing with low to no money down. But with my financial burdens right now, would it be a bad idea to invest anytime soon? Should I wait until i've a stable job and income?

I am definitely going to continue to to branch my knowledge on investing in real estate, but should i be a little more patient before i start investing?

If anyone could point me out to someone or something who could help, feel free to message me, I would appreciate all the help i could get! 

Thank you,

Quang Tran

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Developer · Little Ferry, NJ · Member since 2016 · 426 posts · 226 votes
9y

@Jason Chen@Quang Tran I am also 19, about to be 20 and I couldn't take another second of that ******** that they were teaching in College. It was my 3rd semester and I was sitting in calc 3 class (majoring in Engineering) and it was a 4 1/2 hour class and I remember literally getting up during our 10 minute break and telling the teacher that all this stuff that she was teaching was absolutely pointless and that it wouldn't help anyone in the real world. I went home dropped my classes and decided to do something else. At the time I was still working at a 5 star restaurant for 70 hours a week, I was saving every penny I had and investing a lot into the stock market and trading. I made a good chunk of money trading a couple of stocks I got lucky on finding but I also lost a lot. I decided to start wholesaling in September of last year and I wholesaled 3 properties in the course of 2 months. I quickly figured out that wholesaling was also not too fun because you can work a lead for quite sometime and it can lead to nothing. (though I was only doing it for 2 months, it sometimes felt like I was working a lead for years...) So then I started to flip. I had maybe a couple thousand dollars in the bank account, most of it I always park into the Stock market and I never pull out now because I don't want to get capital gains taxed, and I started to look for someone to partner with on my first deal.

This was all about a year ago... Since that time, I have done 5 wholesale deals, and completed 8 flips in collaboration with my partner. I am still 19. I am turning 20 in 3 days.... It was one of the riskiest decisions I made in my life and I had to put my everything on the line, if I didn't perform on my first flip and didn't stand up to my work for the people that vouched for me to the lenders and investors, that would of been the end of my real estate career. But now, everyone that at first didn't trust me, now are coming back to me to do business because of the volume that I am doing. All my guys that work for me (framer, siding, roofer, tile, kitchen, hvac, plumber.. Etc..) they all give me excellent prices on the labor for my jobs. I get better prices than most of the guys that have been doing this for years. 

With that being said, I am very lucky, I can't say I am not because I am that God chose me to be in the position I am in now. I am starting to market my company and advertise and brand my name, to start something new that will be built into a huge corporation one day doing millions in revenue a year. I have a big picture in the my mind, and that is the one thing that a lot of people don't have. They are afraid to take the risk that I took, they don't like to be outside of their comfort zone. Trust me, you will work, I work 18-19 hours a day. I wake up at 6, get to the sites, go to meetings, come home at 5 go to the gym, come back at 630, shower, eat, and by the time I sit down to do emails, marketing, instagram, mailers, BP, it's 2 am and it's time to sleep for a little bit. But that's part of the thing if you are trying to get to the scale that I am at. I mean its 10:15 now and I still have so much to get thru today before I go to sleep. 

Growing a company is no BS, you will work like a dog, but it will be worth at the end. I first hand experienced people screwing me and learned to deal with people like that. If you have ANY questions at all. please reach out to me. I will answer anything that you have to ask, I will let you know how I overcame problems you are facing.. I will lead in the right direction, I will make sure that you don't make the same mistakes I did throughout my process that will hold you back. Please connect with me, I am always hear for anyone. 

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  • Investor · Fairfield-New Haven-Hartford County, CT · Member since 2013 · 825 posts · 413 votes
    9y

    There are a lot of ways to invest, and if you have the time, can hustle and be an expert in an area - you can likely partner and offer someone a lot.

    Good luck on your journey - stay with it and you'll get there!

  • Specialist · Sibley, LA · Member since 2014 · 1k+ posts · 190 votes
    9y

    @Quang Tran the simple thing to do is work with a local investor and become a bird dog. This a person that go out and find deals and bring them to the investor for a fee. It's easy to make $50k a more a year by doing this and most importantly it won't cost you a dime but your time. 

  • Sacramento, CA · Member since 2017 · 40 posts · 9 votes
    9y

    @Antonio Coleman Thanks for your comment on this thread, I appreciate it! Why would an investor want to sell someone his or her property that he or she can profit off of?

    @Jonathan 

    @Jonathan Makovsky Thank you for the comment! Any pointers, tips or tricks to how I can start learning new things rather than just reading book after book (although I dont mind reading and will continue to read). Im looking for a mentor at the moment but seem to be having troubles.

  • Tampa, FL · Member since 2017 · 240 posts · 153 votes
    9y

    Have you thought about quitting college just all of a sudden? I quit college and it was a very smart choice. The amount of money you could (and you shouldn't ever be losing money on any deal at all except on a super rare occurrence) make in real estate is absolutely hilarious compared to anything a "college" related job could offer. College is an utter scam for 98% of people. Think about it - why would one of the most efficient, safest, biggest ways to make money in the world not be covered at all in college? From middle-class married couples that just want to ensure financial betterment for their family to world-famous billionaires, people from all walks of life participate in the game of profiting in real estate.  Just a thought.

    Get your hands dirty asap after a few months of learning real estate and see what kind of loans/partners you can get. Two keywords are loans and partners. For right now, I can tell that you still need to uncover more details about how to invest, and how to ANALYZE WHAT IS A GOOD DEAL AND WHAT IS A BAD DEAL, AND EVERYTHING IN BETWEEN. Literally everything to learn about real estate, deal-wise, all comes down to simple addition, subtraction, multiplication, and division. After 3-4 months, I think you'll start to get the hang of it by reading here a lot.

    Later you can buy a new porsche like me and laugh at all the college snobs who think theyre better than everyone else and doubted you, yet they make as much as 1-2 burger king workers after accumulating $50,000+ in student loans (my favorite tactic was to post pictures of it online with me in it and then proceed to give them facebook pokes to force them to look at my profile, and then ask them what their experience with V12 engines have been like because im planning to purchase a new ferrari next year)

  • Investor · Wichita, KS · Member since 2017 · 584 posts · 813 votes
    9y

    I certainly disagree for @Jason Chen. You should not quit college. While I know some successful people in real estate that did not finish college, they regret it. Their children are lawyers. Enjoy college, but don't take your eye off of real estate. You might get your real estate license and sell part time while you are in school, it is a great way to get started in the business. You may meet your future spouse in college and what a disaster that would be to miss out on that. I have an MBA and more debt even than the 50k Jason mentioned and wouldn't trade it for a minute. Your mind is your most powerful asset, invest in it. If real estate fails, and I don't think it will because I'm off to a great start, I can always fall back on my education. What is 50k in student loan debt if you are doing well in real estate? You got to be bigger than your problems- Secrets of the Millionaire Mind. Best of luck.

  • Tampa, FL · Member since 2017 · 240 posts · 153 votes
    9y
    Originally posted by @Jonathan R.:

    I certainly disagree for @Jason Chen. You should not quit college. While I know some successful people in real estate that did not finish college, they regret it. Their children are lawyers. Enjoy college, but don't take your eye off of real estate. You might get your real estate license and sell part time while you are in school, it is a great way to get started in the business. You may meet your future spouse in college and what a disaster that would be to miss out on that. I have an MBA and more debt even than the 50k Jason mentioned and wouldn't trade it for a minute. Your mind is your most powerful asset, invest in it. If real estate fails, and I don't think it will because I'm off to a great start, I can always fall back on my education. What is 50k in student loan debt if you are doing well in real estate? You got to be bigger than your problems- Secrets of the Millionaire Mind. Best of luck.

    Jonathan and I represent two opposite ends of the spectrum. There's no "right" or "wrong" answer to this and I'm glad to hear of Jonathan's story because it sounds like it has potential and he liked school and it doesn't sound like he's coping like the others.

    To me, I found some of the worst people ever at college, and I went to a fairly big one here in Florida. There was a lot of groupthink, which isn't "bad" in its own essence, but a lot of terrible characters with no integrity, and a lot of ambitionless, directionless, and worthless people in general could be encountered.

    I would rather take a stroll in my underwear through the Orlando hoods like Church street at 10-11:30pm while having several stacks of $10,000 in hundreds taped to my forehead and stomach, than have to deal with some of these people again, and the irony is that I'd probably end up in better shape if I did.

    Outside of school and in real estate, I began to meet people who were more like me and I liked them a lot more. It's totally up to you.

  • Sacramento, CA · Member since 2017 · 40 posts · 9 votes
    9y

    @Jason ChenThanks for the comment and advice. But i think college is a must for me. Definitely something to fall back on in case of real estate failure. Dont get me wrong, the thought of not having to go to college anymore excites me when i think of the things i could potentially do in real estate, but Im still a child. I have no idea how to support myself financially.

    @Jonathan R. Are you using real estate to pay off your debt? What i dont really understand is in real estate, you often purchase a property with a loan the size of more than you'd probably have sitting in your bank (especially if youre starting from the ground up). So how do you end up paying a loan after purchasing a property? I know in a rental, you have the tenant pay off the loan slowly but surely, but what about when wholesaling?

  • Investor · Wichita, KS · Member since 2017 · 584 posts · 813 votes
    9y

    @Quang TranI bought my first deal in the Midwest for 18k and put 14k into rehabbing it. I saved most of that, I have a small 10k loan at 8.5% interest rate that I got unsecured from a credit union. I rent the property out for $675 a month, my loan is for four years at $260. The first deal alone covers student loans. Onto the next one. Three more deals like that and the rent-roll alone will cover repeating deals like this again and again and again. I do work a 9-5 job and I recommend this when investing in real estate to get started, you need credit or cash to get started.

  • Sacramento, CA · Member since 2017 · 40 posts · 9 votes
    9y

    @Jonathan R. Ive gotten a credit card not too long ago to start building up credit. (Honestly was not expecting to use the credit for real estate until i read the book on rental property investing) What I really need to learn is everything that happens before during and after a deal. Or at least thats what I really want to learn.

  • Investor · Wichita, KS · Member since 2017 · 584 posts · 813 votes
    9y

    For me, what happened before the deal is I got a great education, I met my wife, I got a good job, I let them pay mostly for grad school, I gained the confidence I needed to take a risk. I loved every minute of being a real estate agent my final year or two of college, even though I didn't sell much at all, I learned what a good deal looks like. I spent hours searching the mls for properties low to high to see what was out there. I learned a ton in the few deals I did do. I didn't end up investing in the area I sold real estate in college and a few years after but I learned that market very well. I sold real estate part time at nights while in my first corporate job too, real estate is great for that. I'm not suggesting you need to take my path, I certainly wouldn't take any of it back.

  • Investor · Willow Spring, NC · Member since 2009 · 5k+ posts · 3k+ votes
    9y

    Statistically, people make . Porsche does , but at 57% of cost after 3 years, buying a new Porsche is a bad investment.

    A college degree provides discipline. And for the vast majority of people it provides greater future income than those who chose to remain uneducated. That is fact. 

    Regarding "...why would one of the most efficient, safest, biggest ways to make money in the world not be covered at all in college?" Are you talking about real estate? If so, are you saying there aren't ways to get a degree in real estate? There are. I guess if you don't look or don't know how to look, you will not see them. To the OP, what I've seen is that people who want to make serious money in real estate, get a from a place like .

  • Investor · Fairfield-New Haven-Hartford County, CT · Member since 2013 · 825 posts · 413 votes
    9y
    Originally posted by @Quang Tran:

    @Antonio Coleman Thanks for your comment on this thread, I appreciate it! Why would an investor want to sell someone his or her property that he or she can profit off of?

    @Jonathan 

    @Jonathan Makovsky Thank you for the comment! Any pointers, tips or tricks to how I can start learning new things rather than just reading book after book (although I dont mind reading and will continue to read). Im looking for a mentor at the moment but seem to be having troubles.

    If you don't have the money to invest, you will need something else to compensate for that - my recommendation is become an expert in both general real estate and local real estate. 

    General RE: know all of the terms, how real estate cycles work, financials (this is a MUST), what your end user wants [whether that's a homeowner, a tenant, a rehabber, etc.], 

    Local RE: You need to know your local real estate market and you can learn that by reading the local newspapers (both general and business) and one of the best ways to learn what I found to learn what's going on locally is by following newspapers, journalists and towns on Twitter, also head to your local town hall and speak to the P&Z dept., EcoDev and other dept's to see what's going on in the town's you want to invest. 

    I don't think there's a scientific approach to learning this except for putting in a lot of efficient hours (like the 10,000 hour rule that Malcolm Gladwell discussed in his book), so it needs to be a combination of books, networking, speaking to local builders, Realtors, investors, attorneys, CPA's, insurance agents, and every other person needed in a real estate deal will get you where you need to go. 

    For most, it's hard beginnings to get in the game but there is likely a payoff if you can stay in it long enough.

    [My recommendation is to stay in school and try to keep your student and personal debt low. While there is a very good argument for leaving college, it might severely limit your options if going on your own doesn't work out for you.]

    Best of luck!

  • Real Estate Agent · Denver, CO · Member since 2014 · 151 posts · 101 votes
    9y

    It's going to be hard for you to invest in the traditional way (either buying rentals or flipping) without W2 income. However, like many of the other posters have said, that doesn't mean you can't reach out to investors in your area and offer them help in return for education. It could be as simple as driving for dollars or sweeping the floor of their current flip.

    Then when you are able to get financing for something, you'll have the knowledge to make a good investment. 

  • Griffin, GA · Member since 2017 · 63 posts · 82 votes
    9y

    people might think this is bad, but if done intelligently, student loans can be an amazing source of financing for investment opportunities. The terms are very attractive and its all unsecured debt. 

  • Developer · Closter, NJ · Member since 2016 · 392 posts · 109 votes
    9y
    I believe you are on the right path to ensuring financial freedom. At this point if you were able to find a partner that you can provide your effort as a means of currency you may be able to start investing in real estate. By this I mean finding an investor who is willing to employ you and give you a portion of the profit. A good start would to be a real estate agent with your real estate agents license you will be able to provide your investor access to the MLS thought your effort. The real estate license but also provide you some income and flexibility in time in producing capital while you were at school.
  • Tampa, FL · Member since 2017 · 240 posts · 153 votes
    9y
    Originally posted by @Carl Pickens:

    people might think this is bad, but if done intelligently, student loans can be an amazing source of financing for investment opportunities. The terms are very attractive and its all unsecured debt. 

     it would actually be incredibly smart

  • Sacramento, CA · Member since 2017 · 40 posts · 9 votes
    9y

    @Carl Pickens Are you saying to use my student loans for investing in properties?

  • Griffin, GA · Member since 2017 · 63 posts · 82 votes
    9y
    Originally posted by @Quang Tran:

    @Carl Pickens Are you saying to use my student loans for investing in properties?

     I'm not telling you to do anything,

    But I've done it consistently throughout school. I've had full ride scholarships the whole way through and had passive income that paid for living expenses so I didn't have to use loans for school itself. instead, during undergrad, I used subsidized   (interest doesn't start accrue until 6 months after you graduate) loans at 3% to pay down the principal on a mortgage I had on my first rental property which was at 6%. This was effectively a 6% risk free interest rate arbitrage thats been running for close to five years now.

    now I'm in graduate school and get them at 6% (interest accrues immediately), I've used it for remodels and down payments. 

    when your done with school, you can opt for the balance to convert to a 30-year Amort. But while your still in school the amort is 10 years which kills your DTI (only bad side of this)

    used it for a wedding ring also.

    Just don't use it for random shopping and partying (this is what everyone else does)

  • Developer · Little Ferry, NJ · Member since 2016 · 426 posts · 226 votes
    9y

    @Jason Chen@Quang Tran I am also 19, about to be 20 and I couldn't take another second of that ******** that they were teaching in College. It was my 3rd semester and I was sitting in calc 3 class (majoring in Engineering) and it was a 4 1/2 hour class and I remember literally getting up during our 10 minute break and telling the teacher that all this stuff that she was teaching was absolutely pointless and that it wouldn't help anyone in the real world. I went home dropped my classes and decided to do something else. At the time I was still working at a 5 star restaurant for 70 hours a week, I was saving every penny I had and investing a lot into the stock market and trading. I made a good chunk of money trading a couple of stocks I got lucky on finding but I also lost a lot. I decided to start wholesaling in September of last year and I wholesaled 3 properties in the course of 2 months. I quickly figured out that wholesaling was also not too fun because you can work a lead for quite sometime and it can lead to nothing. (though I was only doing it for 2 months, it sometimes felt like I was working a lead for years...) So then I started to flip. I had maybe a couple thousand dollars in the bank account, most of it I always park into the Stock market and I never pull out now because I don't want to get capital gains taxed, and I started to look for someone to partner with on my first deal.

    This was all about a year ago... Since that time, I have done 5 wholesale deals, and completed 8 flips in collaboration with my partner. I am still 19. I am turning 20 in 3 days.... It was one of the riskiest decisions I made in my life and I had to put my everything on the line, if I didn't perform on my first flip and didn't stand up to my work for the people that vouched for me to the lenders and investors, that would of been the end of my real estate career. But now, everyone that at first didn't trust me, now are coming back to me to do business because of the volume that I am doing. All my guys that work for me (framer, siding, roofer, tile, kitchen, hvac, plumber.. Etc..) they all give me excellent prices on the labor for my jobs. I get better prices than most of the guys that have been doing this for years. 

    With that being said, I am very lucky, I can't say I am not because I am that God chose me to be in the position I am in now. I am starting to market my company and advertise and brand my name, to start something new that will be built into a huge corporation one day doing millions in revenue a year. I have a big picture in the my mind, and that is the one thing that a lot of people don't have. They are afraid to take the risk that I took, they don't like to be outside of their comfort zone. Trust me, you will work, I work 18-19 hours a day. I wake up at 6, get to the sites, go to meetings, come home at 5 go to the gym, come back at 630, shower, eat, and by the time I sit down to do emails, marketing, instagram, mailers, BP, it's 2 am and it's time to sleep for a little bit. But that's part of the thing if you are trying to get to the scale that I am at. I mean its 10:15 now and I still have so much to get thru today before I go to sleep. 

    Growing a company is no BS, you will work like a dog, but it will be worth at the end. I first hand experienced people screwing me and learned to deal with people like that. If you have ANY questions at all. please reach out to me. I will answer anything that you have to ask, I will let you know how I overcame problems you are facing.. I will lead in the right direction, I will make sure that you don't make the same mistakes I did throughout my process that will hold you back. Please connect with me, I am always hear for anyone. 

  • Griffin, GA · Member since 2017 · 63 posts · 82 votes
    9y

    I think finishing school is good, but major in something useful, like finance or accounting

  • Wholesaler · Sacramento, CA · Member since 2015 · 20 posts · 5 votes
    9y

    @Quang Tran I am moving back to Sacramento and will be there in person in a month or so. In the meantime I am marketing there and building up leads in my pipeline. Like others mentioned bird dogging is a start but be careful because some people will take advantage of you and barely give you part of a deal. If interested in some ways to generate some leads then send me a message. We can get on a call and share some ideas. 

  • Tampa, FL · Member since 2017 · 240 posts · 153 votes
    9y
    Originally posted by @Mateusz Prawdzik:

    @Jason Chen@Quang Tran I am also 19, about to be 20 and I couldn't take another second of that ******** that they were teaching in College. It was my 3rd semester and I was sitting in calc 3 class (majoring in Engineering) and it was a 4 1/2 hour class and I remember literally getting up during our 10 minute break and telling the teacher that all this stuff that she was teaching was absolutely pointless and that it wouldn't help anyone in the real world. I went home dropped my classes and decided to do something else. At the time I was still working at a 5 star restaurant for 70 hours a week, I was saving every penny I had and investing a lot into the stock market and trading. I made a good chunk of money trading a couple of stocks I got lucky on finding but I also lost a lot. I decided to start wholesaling in September of last year and I wholesaled 3 properties in the course of 2 months. I quickly figured out that wholesaling was also not too fun because you can work a lead for quite sometime and it can lead to nothing. (though I was only doing it for 2 months, it sometimes felt like I was working a lead for years...) So then I started to flip. I had maybe a couple thousand dollars in the bank account, most of it I always park into the Stock market and I never pull out now because I don't want to get capital gains taxed, and I started to look for someone to partner with on my first deal.

    This was all about a year ago... Since that time, I have done 5 wholesale deals, and completed 8 flips in collaboration with my partner. I am still 19. I am turning 20 in 3 days.... It was one of the riskiest decisions I made in my life and I had to put my everything on the line, if I didn't perform on my first flip and didn't stand up to my work for the people that vouched for me to the lenders and investors, that would of been the end of my real estate career. But now, everyone that at first didn't trust me, now are coming back to me to do business because of the volume that I am doing. All my guys that work for me (framer, siding, roofer, tile, kitchen, hvac, plumber.. Etc..) they all give me excellent prices on the labor for my jobs. I get better prices than most of the guys that have been doing this for years. 

    With that being said, I am very lucky, I can't say I am not because I am that God chose me to be in the position I am in now. I am starting to market my company and advertise and brand my name, to start something new that will be built into a huge corporation one day doing millions in revenue a year. I have a big picture in the my mind, and that is the one thing that a lot of people don't have. They are afraid to take the risk that I took, they don't like to be outside of their comfort zone. Trust me, you will work, I work 18-19 hours a day. I wake up at 6, get to the sites, go to meetings, come home at 5 go to the gym, come back at 630, shower, eat, and by the time I sit down to do emails, marketing, instagram, mailers, BP, it's 2 am and it's time to sleep for a little bit. But that's part of the thing if you are trying to get to the scale that I am at. I mean its 10:15 now and I still have so much to get thru today before I go to sleep. 

    Growing a company is no BS, you will work like a dog, but it will be worth at the end. I first hand experienced people screwing me and learned to deal with people like that. If you have ANY questions at all. please reach out to me. I will answer anything that you have to ask, I will let you know how I overcame problems you are facing.. I will lead in the right direction, I will make sure that you don't make the same mistakes I did throughout my process that will hold you back. Please connect with me, I am always hear for anyone. 

    This is what I've been trying to say. Your goals and perspective and mine are geared towards highest possible success, whereas most of the people on this site just want to flip a few properties here and there, or get cash flow units to achieve a more financially stable life. Neither one of these choices are "better" or "worse" than the other. The bottom line is that if you want to get WELATHY and RICH while still somewhat YOUNG, you gotta put your safety on the line and tack on a HUGE amount of risk. Staying in college tells me that this person isn't willing to risk 99%-100%. Its one of those things that people consider a "safe bet", but we all know that can't be true since almost everyone thinks that way. And you know what the saying is - if everyone is doing it, there's no more money to he made there.

    Just LOL @ competing with millions of other college graduates all looking for the same jobs in 2017, when people are on youtube literally lighting their law and business degrees from HARVARD on fire. College is most definitely a scam and its the most effective one because they brainwash you into thinking youre a loser if you dont go. Most parents themselves were brainwashed too. 

    Now how many successful real estate investors look back and say "man, real estate investing was dumb, and if it were a piece of paper, i would light it on fire".  That's right, zero.

    List of super successful people who didnt have a college degree

    Mark Zuckerberg

    Bill Gates

    Steve Jobs

    Michael Dell

    my granddad (no high school)

    The richest man in China (no middle school i believe)

    this one dude i know who everyone said was dumb, but he has 2 successful stores selling used appliances and just bought his wife a new benz suv at the age of 26. hes got more money than any college grad i personally know.

    And millions more

    One of the biggest things i've learned in life is that having anti-college beliefs is one of the TOP indicators for financial success, and being pro-college is a TOP indicator for financial mediocrity or worse in the future. Yes, I know there are doctors and graduates like my uncle who successfully do solid real estate deals in his free time acquiring cash flow units and do quite well, but guess what? Hes old. I dont care about being wealthy by the time Im old. I care about being wealthy while Im still relatively young.

    Just something to consider Quang

  • Rental Property Investor · San Francisco, CA · Member since 2016 · 85 posts · 31 votes
    9y

    I think everyone here will give you their advice, but this all comes down to your comfort level. Every investor I've ever spoken to has made mistakes along the way, we all do. I personally feel the more education you have in a field the more comfortable you are at taking risks. I learned the biggest lessons from a flip I did a few years ago and it was my "college education" on what not to do. 

    Start attending meetup groups, start speaking to others who've already invested in the market you're trying to get into. The great thing about making mistakes at 19/20 years old is that you don't have family responsibilities yet. 

  • Tampa, FL · Member since 2017 · 240 posts · 153 votes
    9y
    Originally posted by @Carolina Solorzano:

    I think everyone here will give you their advice, but this all comes down to your comfort level. Every investor I've ever spoken to has made mistakes along the way, we all do. I personally feel the more education you have in a field the more comfortable you are at taking risks. I learned the biggest lessons from a flip I did a few years ago and it was my "college education" on what not to do. 

    Start attending meetup groups, start speaking to others who've already invested in the market you're trying to get into. The great thing about making mistakes at 19/20 years old is that you don't have family responsibilities yet. 

    More specifically, are willing to go out of your comfort zone, and if so, are you willing to go as far as "required"?

    The most beautiful thing about real estate isnt the fact that its pound for pound the best way to generate wealth, but a lot of the mistakes can be prevented simply by spending time on this message board alone. So that it CAN be a much easier thing to do. So that one CAN grow to absurdly high net worth without that much pain at all. So that you CAN achieve as much as that one dude who had to endure grueling periods of trial and error and pain with 1/10th the pain and effort. If thats not enough to convince someone to do this part-time or full-time, then I dont know what can.

  • Investor · Wichita, KS · Member since 2017 · 584 posts · 813 votes
    9y
    Originally posted by @Carl Pickens:

    people might think this is bad, but if done intelligently, student loans can be an amazing source of financing for investment opportunities. The terms are very attractive and its all unsecured debt. 

     And they have the best terms you'll ever get as far as flexibility. You can defer the payments, forbearance, income based repayment, etc as you continue to build up your business. Have a low cost investment property in mind before you do it but great point. They can't be found in California but certainly can be in the Midwest. Don't take the money out and blow it.

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