Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
7y
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.
Rental Property Investor · Honolulu, HI · Member since 2015 · 143 posts · 61 votes
7y
My 2 cents. It's up to you. I personally don't agree with what our education system has become. It's become a big business vs a huge academic role in your life. I'm also going full time currently to a private university. I strongly feel that they are just going through the motions to move on. I'm paying double the amount per credit too. It's a joke. However understand that if you find yourself in a bind, you'll have a harder time getting back on your feet. You have to soley work for yourself. Always. No turning back. Even if you find out down the line that you have other interests and the real estste excitement wore off. We've also saturated the market with degrees so by the time you realize you need a job, a masters degree is now everyone's bread and butter. It sucks either way though. It provides you with a fall back plan and a way to get a W2 should you need it.
Specialist · Jacksonville, FL · Member since 2018 · 54 posts · 20 votes
7y
If you want to drop out and get started in real estate, then drop out and get started in real estate. The connections you build in life are far more important than the classes you take in college! Have fun with the ride.
Lender · Pensacola, FL · Member since 2017 · 658 posts · 626 votes
7y
Another trend to consider is real estate (construction) is going high tech. I see articles about construction sites with autonomous construction equipment and large 3D printers. There will always be the people element (eyeball-to-eyeball with prospective tenants and suppliers), but STEM is growing in importance. There is a skill gap for trade workers. For years, people have been told college is better than the trades. Now there is a shortage of welders and other skilled specialists.
Real Estate Agent · San Antonio, TX · Member since 2017 · 814 posts · 466 votes
7y
You can drop out and become a Realtor. You maybe able to become a licensed Realtor and start working for a broker within a year. That way you can learn a lot from REI and have income as well.
You also can try to switch to some sort of degree in business administration related to Real Estate if you "hate" your major.
That said, I would not recommend dropping out of college. You can become a REI later with a degree and considerable more income than people who just drop out of college (not saying is the norm here). In my opinion is not a matter of the BS or MS degree, is a matter of aptitude and how you see life in general.
Rental Property Investor · Ithaca, NY · Member since 2015 · 1k+ posts · 1k+ votes
7y
@Nick Quarandillo
We all do things we don’t want to do. Instead of quitting, why don’t you do some problem solving? You don’t like school because you like real estate, have you thought of going to school for Real Estate? Have you thought about buying a house for your junior and senior year? Rent the rooms out? Have you thought about working for a property manager or a local landlord? Can you get college credits for doing RE actives as an “intern”? Food for thought.
@Nick Quarandillo You asked the question and nobody answered you.. "How do I get started?"
First off, READ READ READ real estate investment books, and some business book. Read everybook that Bigger pockets offers, they are great. Watch/listen to a ton of BP podcasts, and even their money show podcast too.
Second, figure out which route you want to take.. Buy and hold RE, Flipping RE, Wholesaling RE, a combo of some of these, etc..
Third Take ACTION!
I like your post! Take ACTION!
On another note, I agree with you he really needs to become very familiar with REI first. A portion of his title in his post is "I'm ready for real estate", but given his question, "how do I start..." is a bit contradictory from "I'm ready..." Its a good start for him to be here in BP and learn the best he can before he drops from college.
Specialist · Salado, TX · Member since 2014 · 69 posts · 50 votes
7y
I felt that way in college and wanted to quit and jump into a career too. It’s completely normal.
I’m not sure what you’re studying now, but if you want to excel in RE investing you’d be wise to understand things like contracts; depreciation; economics; accounting; RE law; amortization; discount rates; leases; marketing; capitalization; geometry and a dozen other critical real estate related topics.
I found a place where they have a complete program to teach all that. it was in the college of business building. Maybe if your RE career would benefit from a RE education, you’ll enjoy college more?
Added bonus; all those classes usually count towards a RE license, so I got one of those with little effort.
In my experience, the tougher path usually yields the best fruit.
Flipper/Rehabber · North Brunswick, NJ · Member since 2017 · 141 posts · 104 votes
7y
I'm a history major man lol. I knew I would be doing Real Estate for a living, so I changed my major from business to history because I'm good at it . I don't plan on using the degree at all, it's just something to have.
Rental Property Investor · Providence, RI · Member since 2015 · 1k+ posts · 594 votes
7y
Get 3 jobs, and save cash. Learn a trade. Don't be a snowflake and try to take a shortcut. Learn what it is like to work your balls off and grind. If you aren't going to college, learn what work is. Start there, prove to yourself that you can bank some cash, and research your entry into the business. Your going to need some money to get things started regardless.
Real Estate Agent · Omaha, NE · Member since 2018 · 83 posts · 51 votes
7y
@Christopher Lombardi I’ve never heard of this method before. Just at a glance, I would assume it was illegal. Is it not in violation of the loan agreement?
Specialist · Los Angeles · Member since 2017 · 8 posts · 8 votes
7y
There's much to be said for finishing. All work, even passions, require the ability to shovel nonsense, monotony, and crap. No path is without this. The thing that separates the successful and the perpetually dream-filled is the ability to take consistent action, especially when they don't want to, and finish.
A degree will also give you future options. Should you decide to work for a firm, it will make you more likely to be hired. Many firms won't consider you without it. Should you decide one day to become a lawyer, get an MBA, or earn a masters in real estate development, those options will be open for you, too. Should you decide to ask others to invest, your degree will support your credibility with investors.
Most of all, if you can persevere you'll know that you can succeed at any marathon (and life is full of them). Find a way to add value to the experience by becoming an avid learner (rather than only wanting to learn what you'll use at a time when you have no real understanding of what that is).
It sucks. Welcome to the middle of most everything worth having. Find things to embrace and surrender the resistance.
If you love the idea of real estate, get active as a side hustle. Get a license, join meet ups, assist a top performer. Get an understanding of what you think you love. You'll see the paths integrate.
Investor · Mishawaka, IN · Member since 2014 · 48 posts · 22 votes
7y
I went through a similar period where I felt like I was wasting my time at college for a degree that I didn't need for getting into REI. I went to IU for a semester before transferring to IUSB so I could live at home. If I were you, I would look at my options as far as local colleges that would allow you to live at home while costing much less.
I would advise against dropping out of college to try and start REI. Getting into investing is very hard and takes a lot of time. It's important to do as much learning as you can.
Feel free to message me if you want to hear more about how I got started.
Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
7y
@Nick Quarandillo It's not that you have to have a degree. However; having one sometimes opens up doors that might otherwise be closed. There's plenty of classes in college that you can take that will support your real estate investment career, Business Law, Accounting, Real Estate Principles, Cosntruction Project management, and so many others. Good luck.
Developer · Point Pleasant Beach, NJ · Member since 2015 · 303 posts · 216 votes
7y
@Brandon Frulla I believe government student loans would not be allowed. But private loans with a private company, you are allowed to take out the full amount. Maybe the rules have changed in the past 15 years so don't take my word for it but I would believe as long as it went to the school, any funds left over after tuition is paid is yours to keep.
Flipper/Rehabber · Roanoke, VA · Member since 2018 · 67 posts · 64 votes
7y
@Elias Hibbard Yes. I’ve been Wholesaling for 4 years, flipping and investing for 2 years. Both books certainly helped me when I first started out and I still use them for references.
Developer · FL · Member since 2018 · 26 posts · 16 votes
7y
I am a big a advocate of starting a potential business or idea in a small way...one step...one motion that gets the wheel spinning and the momentum building. It is absolutely possible to do this while you're in college.
Whatever you do, take a few days to think clearly about it and get advice from people that know your personality.
Investor · Houston, TX · Member since 2010 · 234 posts · 145 votes
7y
@Nick Quarandillo Pick one from below and you will know the answer (assuming you are A player in both)
Investment Option 1: Start RE and very GOOD LUCK since you will have no financial/technical/ corporate experience + no money so again GOOD LUCK is only thing you can count on.
Investment Option 2: Invest for 4 yrs and get dividend till you die + RE as hobby.
On that note, if you have a GPA above 3.5+ then you should be at a place to pick any one of those above cause it takes hard work and determination to get that GPA and keep up with it ,which will also indicate that you will kick a$$ in RE as well. And if you are less then 3.0 then you are barely making it there . And if you are barely to making it in school then how would you compete with all the smart folks in your market area. Also keep in mind, folks who made without college they would be stellar at college if they wanted to .
New to Real Estate · Aurora, CO · Member since 2019 · 9 posts · 2 votes
7y
@Brian Wilson
Hello,
I joined the Army on june 13th and ship out june 11th( DEP) delayed enlistment program. Im a senior at high school and my mos will be 35S. You said you were intel, what was your mos?
Anaheim, CA · Member since 2016 · 38 posts · 13 votes
7y
The advice here on BiggerPockets is very good about properties and running numbers and everything related.
My opinion on college is go for it if you’re going to be an Engineer, Doctor, Lawyer, Pilot etc. if you’re going for something unrelated to business or something that will help you in real estate and you’re not close to finishing maybe you could consider dropping out.
Although I believe your question needs to be discovered by yourself or someone who knows you very well!