All Forum Posts by: Damon Armstrong

@Scott Sewell 

Thank you so much. That is a great point. Sitting in class picturing how I can use what I am learning to immediately leave class and apply it to the real world. Most people learn in class and wait until they graduate to apply what they've learned. I want to be very clear on why I dislike school so much. Not sure if you've ever read "Rich Dad Poor Dad" by Robert Kiyosaki, but that book really opened my eyes to what school is all about. I sit in class and learn biology, chemistry, physics...etc. None of this INTERESTS me. I guess that's why it is so boring. But when I get into my math classes and start learning about how to calculate interests rates and learning financial math terminology my mind wonders to real estate and it interests me. I can stay focused and have no problem learning. How do you apply photosynthesis to real estate? How do you apply what your left knee cap is called to real estate? YOU DON'T! And that is why I am so hesitant about more school. But the more I get advice from people like you that what I learn in college will be applied directly to my future, and not what could be in my future really turns the tables. In that case, I would be utilizing what I learn immediately. The only thing that concerns me is what I learn about financing in college, is probably the same things I can learn from people for free here on BP. So the problem comes in when I start asking myself, "Am I utilizing my money for the best by taking college classes, or should I utilize that money for real estate?" That was the ultimate problem. Now that I don't have a choice to go to college the questions is, what do I go for. My Dad and my step mom (the two I live with) both have bachelors degrees in the medical field. They are both registered nurses. They both make decent money. Just yesterday my Dad came home from work and slammed the door and said he absolutely hates his job (even though he gets paid well). So, look where college got him...In a miserable place everyday. I say they make good money but like most, they are also struggling financially. This makes me wonder why college is so "right" if it will just lead me to the position he is in. But then again, I can apply what I learn to help benefit me, not who I work for. In the end I don't have a choice...my dad told me if I don't go to college he isn't helping me because I'm not helping myself. Regardless of whatever else he pressures me in to, he, nor anyone else, will ever steer me away from real estate investing. I know now, those who doubt real estate only doubt it because they aren't educated enough about it.

@Vamsi C. 

Thanks, appreciate the post. Now that I really think about what I can benefit from college vs what it will take from me it kind of balances out. Learning about finances and business and accounting and whatever courses I take will be nothing but beneficial. It certainly wouldn't hurt. Not to to mention like he mentioned earlier in this forum that college would be a great place to network with like-minded peers or just people I can work with in general. I'm not worried about any classes being too hard, at all. I was always good in school, just don't necessarily like it. That was one thing that attracted me to real estate investing in the first place.

@Josh James 

it didnt work on your for some reason so i got it @Account Closed 

@Account Closed 

Thank you for your response. However, before I respond I want to make sure I understand you. Are you suggesting using a college education to work for a really big company in the field I desire, and in return getting a nice salary?

The more I think about it the better college sounds. I've never had an interest in school other than math. So maybe college classes that DO interest me such as finances and maybe few basic construction classes will interest me. That may make it less torturing. I think I just have "senioritis". Besides the knowledge I get in college will be beneficial as far as real estate goes.  

@Josh James 

That is absurd! I'm afraid by going to college and dumping every dime I make into my degree, I'll be 4 years behind when I start investing once I get out of college. It's a scary thought, it really is. I hate, absolutely hate the fact that I cannot invest in real estate (or be allowed too) for another 4 months. I can't imagine the feeling of having to wait 4 years...Honestly, during college while working with these investors if things take off for me, to where school is really getting in the way of making money I'll just drop out. I have much more passion for real estate than I do school. That's just me. School is boring, and real estate is not. It's full of unlimited opportunity to learn, grow, and make money all at the same time. It allows you to open your mind and be creative and do so while making lasting friendships and partners. School, to me, you sit down, go to sleep, and leave when the bell rings. Just kidding...Kind of. It's just hard decisions.

@Josh James 

I definitely thought about using college as a networking tool. Networking with upcoming contractors, bankers, whoever, and just building a relationship early on for equal beneficial opportunities in the long run. I'll get my license and see if I can work for an agent or broker in Baton Rouge. I'll have to have that lined up before I even graduate highschool. So I really need to jump on it when I turn 18. I'd like to work with investors more than agents or brokers, but not sure how me having a license would benefit anything. I will need a GED or High School diploma to get my license so in order to get my license as soon as I turn 18 I need to start looking into getting my GED now. Its hard being younger because most people only have the "Do I get my license?" question. I have the "Do I get my license?" the "Do I go to college?" and the "What to go to college for?" questions....It'll all fall into place I know it will. Its just going to take alot of hard work and getting past non-motivating people (my parents). So I guess my plan is to look into how soon I can get my GED. If it is before I'm 18 I'll do it. If not, I'll wait until I have my diploma and then get it. Once I have my diploma and license I'll look for a job in Baton Rouge under someone. I will also use all graduation money and savings too put as a down payment for a duplex, triplex, or quadplex using the FHA loan. Depending on what I find that is affordable. Not looking for huge returns on that, just looking for free living.

@Ellis San Jose 

 Thanks. I was considering going down the business/finance route as well. I was just looking to see if there were specific real estate related majors or classes. Some people major in history, or biology, or whatever, I was hoping it is possible to major in real estate. It seems as though I shoud take the finance/business route and take some real estate classes while I'm there.

@Darrell Shepherd 

I'll like to look into those real estate degrees even though they may not help with my investing business just to see exactly what they offer (only because that is what I was initially looking for). I am definitely aiming toward the financing side now, though. I really never thought about how having a degree in financing may carry weight to lenders. That's a great point. My thought of college is this: If I go to college, I'll be spending whatever money I make on paying my way through it, not investing. I'd much rather a) save that money for down payments instead of class enrollment b) spend it on marketing to generate leads instead of books, and c) start building cash reserves (important for investors who want to buy/hold, right?)

@Ellis San Jose 

Yes I'll definitely try getting in with some investors in Baton Rouge when I move there. The reasons I want to get my brokers license is because I want access to MLS for buy/hold properties, it will make it much easier to find comps, and again, save money at the closing table. I didn't mean anything bad about commission based jobs, but as a college student working off of commission like an agent would not be very benfecial. If I were to work on commission I'd prefer to it be wholesaling/bird dog "commissions". Do brokers work off of commission? Did you have to be an active agent in order to get your brokers license?

@Account Closed 

I may just get in touch with the college I plan on attending and ask them directly what type of classes they offer. The college is about 2.5 hours from where I live now so I am considering, and trying to figure out how as an 18 year old freshmen in college I can purchase anything from a duplex to a quadplex and live for free instead of paying for a dorm or paying a landlord rent. I'm really trying to figure out how I will be able to make that work with no credit.