I hate College, I’m ready for real estate.

137 Replies

Patience and Grit are important characters for success.   Success in Real estate comes down to the following

1)  Knowledge - you can get that on your own for free - tons of resources out there

2)  Timing - this one is hard to explain or catch.  Lots of luck involved but experienced investors can "time" it better than newbies or find good deals anytime(just fewer of them).  Anyone who got into real estate in 2009-2013 killed it because timing was so perfect.  Right now is not a great time.   It's time to be cautious given the President (ok I said it) we have, the future of the economy, interest rates etc.

3)  Network - who do you know?  Do you have friends/family anyone in your network that does real estate already?  

4)  Money -  Having a good W2 job that helps you to save money is one of the most common way successful investors start.   A good W2 job also helps you with mortgages.    Of course you can use "OTHER PEOPLE's MONEY" - but you need experience, network, and a proven track record.

5)  Grit - Proven ability to endure difficult things,past failures did not stop you from overcoming that difficult event/time.   Get up after you have fallen.   Quitting college doesn't count as Grit

Until you get at least 2-3 of these ingredients,  don't change course.  

@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!

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.

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. 

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.

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.

@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.

Originally posted by @Cam Jimmy :

@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.

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.

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.

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.  

I have never heard of anyone being hurt by having a college degree, but I have heard many, many times of those that regret not finishing college. 

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.

Hang in there!

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.

@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. 

@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.  

Read Unscripted by MJ DeMarco which you can read 6 chapters free online or go to Thefastlaneforum.com

https://books.google.com/books/about/Unscripted.html?id=KM6oDgAAQBAJ&printsec=frontcover&source=kp_read_button

Btw I get absolutely nothing for this.

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. 

@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 . 

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