I sat next to too many people in classes, such as math, and kept hearing the same thing..."why am I learning this, I'm never going to use it?". The unfortunate thing is they were right. They never learned it...and thus, never use it.
You have no idea what you will use, of what you learn...ever...until you use it. College isn't only about learning the specific material, it's about broadening your understanding about topics you have no understanding of now, and never would, without being exposed to it in college.
What you learn in school, in part, are the basics of everything in life that you will want/need to learn in the future. Without the basics, you won't be able to learn the complex.
The most important thing you learn in school isn't the topics, or subjects...it's how to learn.
How far into college are you? I wouldn't drop out. I'm sure you've already collected some student loans. Although not necessary, it is helpful to get a degree to start with a higher paying job to help finance the real estate acquisitions. If you know you want to get into real estate, you could gear your degree towards something related that could help you post graduation in your real estate journey. There are other ways you could get started while in school. I would start by getting my real estate license and doing rentals/sales. I know there is the University of Indiana there with plenty of students looking for rentals. Maybe there are young professionals that stayed in the area after graduation to work that are now looking to buy their first homes. You could get your R.E. license and hustle when you're not in class.
@Daniel Weber I’m only a sophomore and I pay my own way, cash out of poker for school I took one loan to cover the rest of this past semester which was around 4K I have very little debt compared to most people I know my age.
I feel you. And I’m not suggesting that you don’t get into real estate but don’t drop out of school either. To answer your question, research Wholesaling. It’s a great way to get into real estate investing. Suggested books, If You Can’t Wholesale After This, I got nothing for you, by Todd Fleming and What every real estate investor needs to know about Cash Flow by Frank Gallinelli. But of luck to you.
Get your RE license and start hustling! You can do that in college or not.
My personal opinion on college: not for most people. Which is the exact opposite we've (20-30 yr olds) been raised believing. I also got tired of it and knew I didn't need it and was wasting money. I got an associates degree because I only needed one more semester to get it. If I wasn't one semester from the associates I probably would have dropped out too. Again, not suggesting what you should do, just mentioning what I did.
You could also learn a trade like carpentry and work with your hands. Get into investing that way, find a partner that needs a construction partner (once you know what you're doing). You could work in a leasing office at a large apartment community and work your way up and learn. You could bird dog for wholesalers. You could be a wholesaler. Go work at a bank and be a loan officer that works with a lot of investors. Lot's of ways to get in the business. Many of them you can do with college, though you may not need to. That's on you.
@Nick Quarandillo - This is a huge decision. I think it breaks down into a couple of different pieces. The first is your decision on whether or not to finish college. I went through some un-fun parts of school as well, and was glad I pushed through in the end. I think this varies on a number of fronts, and without knowing more, it's hard to say whether you should stay in or not. I won't assume to know what's going on in your life!
I CAN speak to investing at different points though. I have invested when fairly young and quite broke. I have also invested when I had a bit more stability, and money to work with. Starting young, without a lot of money, is HARD. It is not impossible. I did it, and many others have. However, if you pursue this path, be ready for some lean times, a lot of uncertainty, and added stress. Investing when you have some income/life stability is much easier and more enjoyable.
If you commit to the real estate path, be ready for the grind. You will likely have some amazing experiences, and learn quickly. But it is not easy. If you're going to commit, be ready to work for a while before seeing results.
If you want to go this route, commit to learning a lot, as quickly as you can. If you're looking to wholesale (you are in this forum, after all), talk to other successful wholesalers near you. Take a class locally, or if it isn't available, check online. Look for local real estate groups around your area, so you can find good contractors, realtors, buyers, etc. You'll need all of them. Read books on rehab costs and buy and holds. If you do all of that, and want next steps, send me a private message and we can talk more. (:
@Joe Villeneuve I’m going through everyday with the same blank minded routine, there’s no passion for what I’m doing in school but I notice everyday everyone else is doing the same thing, I want to break the cycle there is so much more to life then falling in this trap of college I feel like.
@Nick Quarandillo Just wait till you're a senior!! I felt the same way at BSU and almost quit my junior year. I decided to get my degree and didn't look back. Glad I did because at that time I didn't have knowledge, resources, or a professional network to start anything. If you don't have the tools you can't build an empire.
@Joe Villeneuve I’m going through everyday with the same blank minded routine, there’s no passion for what I’m doing in school but I notice everyday everyone else is doing the same thing, I want to break the cycle there is so much more to life then falling in this trap of college I feel like.
@Joe Villeneuve systematically most kids feel like they have to go to college and are not necessarily happy because it’s what society tells us we have to do when in reality all college does is teach you how to make 50-100k a year not how to live the life you really want.
@Joe Villeneuve systematically most kids feel like they have to go to college and are not necessarily happy because it’s what society tells us we have to do when in reality all college does is teach you how to make 50-100k a year not how to live the life you really want.
College is what you make it. It doesn't make you...unless you let it. I hate to tell you this, but if you think college is making you, it's because you are letting it...and you will stumble in REI.
@Joe Villeneuve I’m not a fan of all the meaningless petty work in college. I’m not struggling actually at all I just don’t see the how any of this will help me later in life. I want to go into real estate because I can create a life for my self I have always wanted.
I won't offer an opinion on whether or not you should drop out of college. Everyone is different, no way to tell if it's a good idea without knowing you and your situation. College was the best time of my life, although I didn't go for the school work...
The only comment I'll make is on the meaningless petty work. There's a LOT of what will seem like meaningless petty work in real estate too. It's all building up towards something, in college it's graduation day. In real estate it's, as you put it, the life you've always wanted.
The only people that really NEED college are engineers, doctors, and lawyers. There's way more important aspects of college than grades that often get overlooked - the individuals I'm doing business with now for the most part I met in college and we make each other better. Also finishing college shows you can go through all the petty work and finish with the end goal in mind. Most people who get into real estate don't make it past the work and just end up dropping out of that too.
My best advice for you is to make the best of everything that life throws at you. Like Joe said earlier, don't let college make you. Take what is beneficial to you and use it, and grind through the rest. Use this time to learn as much as possible.
I sat next to too many people in classes, such as math, and kept hearing the same thing..."why am I learning this, I'm never going to use it?". The unfortunate thing is they were right. They never learned it...and thus, never use it.
You have no idea what you will use, of what you learn...ever...until you use it. College isn't only about learning the specific material, it's about broadening your understanding about topics you have no understanding of now, and never would, without being exposed to it in college.
What you learn in school, in part, are the basics of everything in life that you will want/need to learn in the future. Without the basics, you won't be able to learn the complex.
The most important thing you learn in school isn't the topics, or subjects...it's how to learn.
@Nick Quarandillo if you cant organize yourself to finish the degree, why do you think you will be successful in real estate? Too much TV watching? Delusional...
@Nick Quarandillo nobody here can answer that for you. Your circumstances will be different from anyone else’s. As general advice, you have to do research, read some books, network, make a plan, and take action.
This question has already been asked/answered thousands of times, and generally the asker never sticks to the advice. REI is not a get rich quick scheme, so the ones who try to skip steps and ‘just get started' get burned
@Nick Quarandillo, Let me tell you a little story (the super condensed version)
I graduated high school a little early and was such a hard charger that I had all my credits to graduate by the end of my sophomore year, so I punted school (I HATE SCHOOL). Then my parents said I needed to go to college, so I enrolled in the local community college at 17 and hated it. I had pretty good grades but ended up with a 1.17 GPA (I know, I know, it was bad) because I stopped going the last 4 weeks. I punted the college because I was joining the military to work in intelligence, and thus I thought I didn't need a degree.
Fast forward to today, I'm almost 24 and I graduate college this summer. I go online to a pretty good school. I work full time in my desired field (no longer intelligence), and I have a 3.9 GPA. What did I learn in school? Well honestly about 1 thing per class (that I can apply). Do I think college is worth it for most people? Nope. Do I think online school is the best option for more people? Yep. The truth is, you need a job. Most jobs require that piece of paper, regardless of how little it actually translates into the real world of what you majored in.
You shouldn't drop out. Unless the job you want doesn't require college (like a trade), excluding RE. RE has more failures than anything, plus if you wake up one day and decide you don't like it anymore, what HARD skills do you have that will help you get a new job? Sales, and if you hate sales well then you're stuck.
You don't have to choose a job that makes a killing, find something you like even if it pays less. Hustle on the side with your RE/REI while in college. Retire in 4-6 years after graduation if you don't like what you do. I can guarantee you won't regret it.
Just curious whats your major?
Edit: Forgot to mention, I wish I hard learned more of the STEM material (math in particular) in high school as working as a construction manager, because I use it DAILY. Kicking myself now.