All Forum Posts by: Siye Baker

This is not your typical post on BP but, since y'all are going to be similar to me and looking at things from a financial sense I would like to hear your opinions. And a lot of you have experience with what I would eventually like to get into also.

First off, I graduated from a state university with an undergrad in Finance then decided to make the plunge into law school. Moved down to North Carolina and am currently a 1L law student. Took out a 25k graduate loan that has a 6.9% interest rate that is accruing from the moment taken out, even while in school and now I am scared.

Law school is okay, I am top 30% in my class which is okay, but the debt concerns me. As you all know lawyers are a dime a dozen. The market is saturated and I am seeing that even for an "unpaid internship" the market is competitive! It disgusts me. I am questioning whether I made the right financial choice and have plans to finish my 1L year and move on with my life.

At the end of the day I do things as most of you that benefit me financially and will make my life more comfortable. Multiple people and attorneys told me to be weary of law school but I said, "no I will be the exception" and get those high paying jobs. Now I am thinking I may have made a mistake.

I guess I was hoping if any of you are attorneys or have experience with them in real estate what you thought or recommend? Just trying to learn from people's experience that have gone through what I am doing and what others can see.

Thanks in advance!

For what it's worth, my sister went to Harvard with the intent to be an MD, but decided to go with a more predictable field such as law....went on and graduated from Penn Law in '07, worked for a couple years at a big corporate firm(6-7 days/week). Decided that she had enough of it, and now is in medical school to pursue her dream of helping people. Will she make more as an MD? Doubtful, but she will be happy. Almost all of her friends are still practicing law, and probably will the rest of their lives, I would imagine(great pay).In the end you will either end up at where your passion is...or WISH that you had. If money were not an issue- which one would you rather do?

Can't put a price on happiness

Best of luck to you my friend!

Sebastian

2 Votes

@Jay H.

great info, thank you for sharing!

0 Votes

hello@Jerel Betancourt

That sounds like a great idea! I am currently going through the same process(although I already graduated from FSU).

You will need to know your credit score, talk to some lenders to find out your options, and get in touch with real estate agents to find those that can provide you with a list of properties in your price range/style. There is a ton of info on this site regarding all the different types of loans(fannie mae,va,usda, tradiitonal etc), which I would recommend you familiarize yourself with. Those which may not apply to your situation now, will probably apply to your real estate endeavors down the road.

Sebastian

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Originally posted by @Karen Margrave:

Nate Wong Just thought I'd check back in with you and see what ever became of your problem? Hope you got it worked out to your satisfaction.

stumbled across this thread....it was like watching a wreck in slow motion. my guess is the contractor took him to the cleaners and never finished the dang roof. Sounded like that guy was trying to get a shark to leave him alone by offering it more blood. shame

he did get solid advice here though, probably didn't have the spine to implement it..and the contractor ate him alive.

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Originally posted by @Bill Gulley:

LOL, Pat, reminds me of a washer I got rid of at a rental, non-working. There's a dump fee. I put it in the front yard with a for sale sign on it, $50.00! It was gone the next day! :)

was it purchased from you or stolen? clever on your end either way!

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Originally posted by @Clinton Roland:

Hello @Rich Weese! What was it that Henry Ford said:" there are 2 kinds of people those that think they can and those that think they cannot and both are right!" Im curious how you got your start Rich? All the best to you, Clint

hello

good news is he has written a book which answers your question in detail. I just finished it wednesday, and will probably continue to reference it throughout my career. A lot of info, both incredibly creative as well as traditional.

cheers

Sebastian

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@Tyrone Lewis

think you will find California Real Estate Principle/Practice to be a great asset as well.

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Originally posted by @Dawn Anastasi:

It would definitely be taking advantage of them if you set the fire, then responded and put it out, then bought it for pennies on the dollar.

lol, nicely put

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@Kevin Lochen thx, and best of luck to you my friend!

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@Kevin Lochen thanks for the info! I will definitely check out Cam-tech. Passing that exam at the age of 20 is quite impressive. does IL recognize your FL license, or did you have to take their exam?

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All Forum Posts by: Siye Baker

Siye Baker has started 7 posts and replied 240 times.

Post: HELP! Should I stick with law school or start my life?

Post: Start to Finish... Ground Up Single Tenant NNN Lease Development

Post: I want to buy a home in Tallahassee, Florida

Post: Having problem with contractor again. please comment

Post: Opinions on Lizards/Reptiles

Post: Getting out is difficult!

Post: What should I study next?

Post: Buying fire damaged houses

Post: Thinking About Becoming a Builder

Post: Thinking About Becoming a Builder