All Forum Posts by: Hunter H.
Hunter H. has started 1 posts and replied 4 times.
Post: Establishing REI Business in Three Months
- Grand Blanc, MI
- Posts 4
- Votes 1
@Caleb Heimsoth - Hello! My undergraduate degree is Mechanical Engineering and my master's would be as well. That's the option I'm leaning towards, its going to be a busy two years of studying. That's why I'm hoping to get a plan together beforehand and not lose sight of my business goals.
Post: Establishing REI Business in Three Months
- Grand Blanc, MI
- Posts 4
- Votes 1
@Brett K. - Thanks for the advice. I will start more in-depth research and begin networking in my community!
If you're curious about my proposed job in real estate, I honestly had no idea. My ideas were ranging from a short term desk job at a local commercial real estate company to pursuing a real estate license. Upon further research, I'm finding results that mirror your statement. The bulk of the knowledge I'll need will come from networking and independent research.
In regards to my career, I will graduate with a degree in Mechanical Engineering and am pursuing automotive engineering. I enjoy what I'm doing but have always dreamed of owning my own business. Thanks again!
Post: Establishing REI Business in Three Months
- Grand Blanc, MI
- Posts 4
- Votes 1
Originally posted by @Brett K.:
You will probably have trouble getting a loan. Line up your financing now. Talk to at least two local banks that do portfolio loans for investors. They will ask you questions about your income, debts, pull your credit if your answers are satisfactory, and pre-qualify you.
Thank you for the feedback! I'm also wondering, apart from typical research, what is the best way to immerse yourself in the industry? Would something like short-term employment at a real estate company be valuable?
Post: Establishing REI Business in Three Months
- Grand Blanc, MI
- Posts 4
- Votes 1
Hello Bigger Pockets Community!
I’m currently a junior in college set to graduate in September of 2019. The school I attend operates on an internship schedule, in which I rotate between school and work every three months. This has allowed me to build experience in my industry and almost certainly lead to employment post-graduation. If all goes according to plan, I will have two options upon graduation. Option 1 is a full-time position with a nice starting salary. The money is attractive but I’m almost scared to join the rat race and start a 40 year career. Option 2 is getting accepted to the graduate school program my employer sponsors, this is my current goal. I will be paid a full-time salary (although lower than a direct-hire position), rotate between departments within my company, and go to school full-time to complete my Master’s degree. This program has a firm start date of January, leaving a three month gap in-between graduation and employment. I can either work those three months at my internship salary or take the time off.
This is where my question comes in. If you had three months to kick start your REI business, how would you do it? What is the best way to experience the industry over a three-month time span? I'm primarily interested in buy and hold investing, although am open to other options. In regards to cash on hand, I plan to have 15-20k saved upon graduation (although fairly significant student loan debt). I'm afraid that if I don't create some kind of business plan before joining the rat race, it will never happen.
Any and all advice is appreciated!