@Nick Quarandillo I would think this one through. I wrote an extensive post on why college still makes sense. I wanted to quit at a certain point but I'm glad I didn't because it would have closed numerous doors for me. Don't turn quitting college into grass is always greener scenario. If you don't have a formal plan and better option than college, you should continue with it.
Think of your future self, and ask yourself, "By me quitting college will I be putting my future self in a stronger position?" If you think the answer is yes, then ask yourself, "What is my plan to make sure my future self is in the best possible position to be as successful if I completed college?" If this is a matter of discipline that you don't want to do the work, RE requires its own type of discipline and it's one of the most grindy jobs you can ever have. If you don't have the discipline to cold call, door knock, and prospect for 4-5 hours per day and face multiple rejections, it won't be the right business for you.
Take some time to cool off, and reflect. The worst thing you can do is make a big decision in the heat of the moment.
Real Estate means: Telemarketing daily, I call leads at least 2-4 hours per day. Being hung up on, cussed out, told NO a million times a week. Tense negotiations. Deals blowing up in your face. Angry clients, angry agents, angry closing attorneys. Long hours. Work on weekends and nights.
When people say they're getting into real estate my response is always, if you're thinking you're going to do real estate so you have an easier schedule and can put your feet up every once in a while, then I say it's not the job for you. To succeed it take hard work, long hours, and lots of failures.
The rewards are awesome. I do it because I love helping families. I do it because I love real estate and the deal. I do it because I hate having a boss.
Make sure you're doing it for the right reasons and not because it's a part time hobby and you'll be fine.
Originally posted by @Nick Quarandillo :
How do I get started I just want to drop out of college and get myself going on in the real estate world.
Keep in mind that provided you are pursuing a marketable degree, you are building equity in yourself by getting an education. I didn't like college either and know what you mean about meaningless assignments but in the end, I would have never been able to invest in real estate if I didn't get my degree and get a job that pays me more income than I need to make ends meet.
I personally feel that you should build equity in yourself first before you ever build equity in real estate or securities. Why? Because you will always keep your personal equity and skills, real estate and securities can always go away due to circumstances that are beyond your control. IMO, stay the course through school and you will reap the rewards (as long as your degree is marketable)
Getting a RE license or working for a property management company can help you get your feet wet and earn some money while learning the skills you need for later if you don’t have any capital to invest. You will also be able to meet people and investors if you have a plan ready you have the opportunity to pitch to them.
I am too a beginner, iv ask tons of questions iv learnt so much within my first 3 months, and so much more to learn. I started listening to the pod cast even though I started to get in this 2018, I’m listing to the pod cast from the beginning (2013) I’m almost out of it and will we listening to the 2014 cast) here soon.
I work construction, not only am I reading, listening and learning while working, I’m also getting close to people from the investing world and construction world. My advantage is that I’m super friendly and talkative. Iv met electrician, plumbers, sprinklers, rockers and many’s more I have connections.. I have about over 20 people In my contacts so when I come across a rehab house my options are huge on who to call, this may not be for everyone Or a lot may not agree with this but iv made relationships with other trades. I’ll have cheaper helpers and my helpers will get there own profit of the share. It’s a win win for all of us.
Keep in mind it’s not always what you know.. it’s who you know.
Best of luck my friend!
Hi @Nick Quarandillo
I teach a college class on planning your life in college and afterward. Maybe watch this TED talk and see if it speaks to you: https://www.youtube.com/watch?v=SemHh0n19LA&t=819s
Public forums like this can give you ideas, if you want to deep dive with a sympathetic stranger, I'm open to listening. Shoot me a message if you don't hate the idea.
Don't quite school!!! You can get your Real Estate license and start learning the ropes while still going to school! You can also pick a degree that will give you a leg up in the Real Estate world, like Finance, Economics, or even Construction Management like I did. I hated school but don't like to quit at anything and was determined to pull through. I graduated with a degree in Construction Management, got a job with one of the biggest General Contractors in the world, worked for them for a year, saved enough money to be able to live a full year without an income, got my Real Estate license and the rest is history. I use my knowledge in construction to flip and build homes, and my knowledge of real estate to help people buy and sell homes. I'll tell you this much. EVEN IN REAL ESTATE PEOPLE ARE IMPRESSED WHEN THEY HEAR YOU GRADUATED FROM COLLEGE!!!!!!! Hear me on this. People always assume that I'm in Real Estate because it was a fall back. When they hear that I have a Bachelors degree and choose to do Real Estate because I truly love the work they look at me in a whole new light. It has done wonders for me particularly working with big time clients, investors and lenders.
STAY IN SCHOOL, GET YOUR REAL ESTATE LICENSE OR LEASING LICENSE WHILE IN SCHOOL, TRY FINDING A JOB WITH A BROKERAGE WHERE YOU CAN SHADOW OR JOIN THE TEAM OF A TOP NOTCH AGENT WHERE YOU CAN GET PAID WHILE LEARNING, AND DO BOTH!!!!!
@Nick Quarandillo If you stay in college, just be sure to get a marketable degree. I hated college with a burning passion but I am SO glad I did it. I came out of it with a well paying job that will definitely help fund my RE investing.
I hated every second of it but I am so happy I stuck it out and got that degree. It opens so many doors. My brother dropped out and is getting so frustrated watching all his coworkers with degrees get promotions over him.
Also, don’t set limitations on yourself like I did. You absolutely can get into the real estate industry while in college. You don’t have to wait until graduation to go to real estate meet ups and learn to analyze deals.
Real estate isn’t always a get rich quick business. Having a good income to supplement your investing can give you a huge advantage.
Also, check to see if your college has a real estate club.
If you really hate school, then create structure prior to dropping out. I know school will eat up a lot of your time, so maybe give yourself the rest of the year to set things in place. This way you have already formed new relationships with likeminded people/friends, maybe you can get your license and work part time for an agency, or even set yourself up for a stable temporary job.
If you were to tell me "im leaving school next week" I would probably say its a bad idea.
If you were to tell me "im leaving school in 6 months, after I do (A, B, C)" I would say its a good idea.
I hear the want to jump into it but I would finish college. It's not necessary to get into real estate, of course, but it will keep your options open for you should you decide one day RE isn't what you want to do with your life. It's mush easier to finish it now and be done than to try to go back later and complete it.
Originally posted by @Nick Quarandillo :
@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.
How exactly do you pay your own way? Do you work a job and pay your own tuition, rent, food, etc.? Or are you living with your parents and getting a stipend from them or using an inheritance?
I have an MBA, a career well into the six figures, and I would not have been able to do what I've done in RE without my degrees that got me the jobs, that got me the money, etc.
Stay in college AND get going on a real estate career. And network!! I’ve had countless clients come from the people I met in college.
@Nick Quarandillo I just graduated a few years ago and wish I never went. If you know you want to get into real estate, I'd find yourself a good job to bring in some money but start working on your real estate license. I have a ton of debt I wish I never had. College is great for the social experiences but if you don't need to incur the debt, don't force it.
I love this post! While I know the feeling and how taxing it can be on so many levels. The college experience is one that I truly believe everyone should embark. I am not saying get the degree, however, if something does present itself and you are ready to go all in! Then do it! However, many of the connections that I made in life in the medical profession came from my experiences in college. Also, I have business partners because of the bonds that I made in college. Think of college as carving a path in your life, but do not feel the weight of society for all the judgment it brings for not attending or graduating! Commit to killing it!
@Nick Quarandillo Saying this with respect: suck it up and finish school. If you have the opportunity to get an education you will opening up a larger job market for life with a bachelor's degree. And speaking frankly, if you can't push through the adversity you're facing at school, what gives you confidence you can push through the adversity you will face in your real estate career?
Are you also not creating a false dilemma? Why can't you do both part time, or one full time and the other part time, or do both full time! Get creative. You got what it takes to finish school, it's much harder to go back later. Real estate isn't going anywhere..
Hi @Nick Quarandillo ,
Do what you feel is right for you and your situation. However, I would suggest you finish college and major in something related to real estate and take advantage of the free time to do wholesaling or network.
College isn't for everyone and I will argue anyone that for a large part, it also doesn't prepare people for survival. Go to college to get educated, go to college to become a layer or doctor or a CAP. If you want to learn something useful, that will pay your bills and make you a good life - go do something
I was a C - F student in grade school. Still managed to find a way to graduate high school early, went to community colleges in the late 90's because schools held the knowledge - while supporting myself as a teen. They don't hold the knowledge anymore. You will learn more from someone who is doing what you want to do and by doing it yourself, than you will in school. Podcasts, forums, reading books, a mentor, it's all out there and nearly for free - just pick up the tools and start using them.
But have a plan. Which aspects of real estate are you interested in? Being an agent? Wholesaling? Flipping? Buy and hold? Have a plan first, even if you need to take a short time away from school to figure out. You can always go back. Now is the time to figure out what you want out of life - don't continue down a path that might ultimately waste your time and money. You are obviously aware of something, you are asking the question, but what do you want out of RE?
Originally posted by @Will Gaston :
If you hate college then you are doing it wrong.
College > Real World
If you feel that way, you’re doing real world wrong.
Real world >>> 4 years of college
Seems like you made up your mind. Drop out and get into Real Estate. Worse comes to worst is that you go back to college.
That is not my suggestion, but it seems like you are making every argument to dropout.
@Nick Quarandillo all do respect to you as well as everyone else out there, but what really makes you think you are "ready" for real estate? If you're unable to organize yourself enough to finish out with a previous commitment of college, then what makes you think you could for REI?
Plenty of people dropped out/ didn't go to.college and still became successful, including BILL GATES, and you could most certainly do that as well. But its because they had PURPOSE when they made the decision. Your in ability to clarify and give details on what "petty work" is in college suggest that you might be just simply complaining and tired of the real quick required to get a degree. If that's not the case than I apologize! But a lot of Real estate investing is exactly that; boring, tedious, mind numbing repetitive work that often times feels like you are going nowhere with it. Its not a get rich quick or change your life for the better dream that a lot of TV shows makes it seem like. It takes work, honestly more than college even, to become truly great at REI. And time, god so much freaking time lol.
I really think you should define exactly why you feel like college is a waste of time and effort, and then also clarify for yourself your purpose and your goals in life. REI is not for everybody and if you go "jump into it" you are probable to failing miserably. Granted there are most certainly exceptions to that rule, but they are rare. The chances of you being under 6'3" at least playing in the NBA are pretty Rare, but hey even Isaiah Thomas got in. How many other players are there though in the league 5'11" right now? What about in THE HISTORY of the NBA?
Brother you can definitely do REI I don't want to discourage you from it, its awesome in my opinion, but if you are not planning for it, then you are planning to fail before you even begin. Choose wisely and know your reasons.
@Nick Quarandillo that's very resourceful! But REI is pretty expensive. Its possible to invest with no money down, but its very hard. I can't stress the importance of having at least 6 months of living expenses in the bank SET TO THE SIDE before you even start. If something went wrong and you had no money, you could be in VERY bad trouble...
Sounds like a terrible idea to me personally. Instead it sounds like you need to major in a field in which you enjoy / switch to a trade school / or even get a job instead of college which can aid you in starting real estate.
Why can't you do real estate and college? In my opinion if you don't have the drive to get started in real estate while going to college you will not have it when you drop out either. You will just be in a worse starting position that were previously were.
Quitting school makes you a quitter and you don't want to be seen as a quitter
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