You’re fresh out of college. Now what do you do?
How are you going to make money? What direction are you going to go in? What is the most profitable path to your goals?
You probably have big aspirations. But you may find that the career paths you thought you were going down are no longer as attractive as you believed. The money and work conditions probably just don’t line up. So, do you suck it up, push ahead, and hope things will change in the future? Should you stay in school and train for something else? Do you find a gig in real estate and start making the money and enjoying the lifestyle you really desire?
How to Purchase Real Estate With No (or Low) Money!
One of the biggest struggles that many new investors have is in coming up with the money to purchase their first real estate properties. Well, BiggerPockets can help with that too. The Book on Investing in Real Estate with No (and Low) Money Down can give you the tools you need to get started in real estate, even if you don’t have tons of cash lying around.
Reconsider That Graduate Degree
If you’re thinking about going back to school to get a business degree in order to get into the real estate field, then please reconsider! The cost of a good advanced degree in America is extremely high, and it can eat up some of your best years. I am a testament to this. I went to school for a human biology degree. Then I decided to drop out to fully commit to real estate.
Too many long-term students, with great degrees, from great schools, have found they are not going to get what they want from the career path they were on. Many haven’t been able to land jobs. In contrast, real estate offers many opportunities to invest and run your own business. We will always need housing, and you don’t need a degree to get started.
The best way to learn is through real world experience, which classrooms do not offer. It’s fabricated. They teach you that failing is bad, but in the real world, it is your biggest teacher. Still, people are paying tens of thousands of dollars to be programmed and spend years of their lives without learning the real knowledge and skills they need to reach their financial and lifestyle goals.
Learn Through Experience
Instead of gathering all the debt you would get from going to college, which can limit your ability to invest, you can learn by working with someone for free or a minimal wage to get the needed experience. This means being able to learn and earn at the same time, without all the debt. And most will find real estate can deliver on their wants and dreams a lot better than anything else. It is amazing to see how many doctors, attorneys, Hollywood talent agents, and other highly paid professionals who have spent more than a decade studying and taking exams are now switching over to real estate investing. Why take those long detours when you can get right to what you want?
If you are going back to school or just got out, keep those contacts you made. Those are probably the best value you got out of all the time and money you invested. They could become buyers, sellers, renters, or partners. You can and should keep learning. You should be ready to invest in quality education for the rest of your life to enhance your knowledge and skills. Just don’t put your income and life on hold. You can get started in real estate this week.
What route are you pursuing and why? For those who are a few years removed from college, do you have any advice for new graduates?
Leave your comments below!