I need some guidance on my finances and next steps to secure me for my first deals

[Trace Martin]

I am trying to figure out what my next steps are. I think I know what I need to do, but would like some feedback and other's opinions. I am a few months away from graduating college with a bachelor's degree in Entrepreneurship and a minor in Finance. I currently am making $15 dollars/hour, which is about $1500-$1700 a month (roughly 20k a year) on average with about 15k saved up. I want to get investment properties, but I feel like I need more income and high amount saved. I can't really go full time because I have classes in the morning and currently work the afternoon up to 8-9PM. Should I stick with my current job until I finish my degree and then use my degree and be able to go full time in the summer with a higher paying job? Should I search for a higher paying job now and quit soon? I am also thinking about moving and that will also give me more flexibility with where I can work, so I could wait until I graduate then move. Should I just keep doing school and current job, while finding time to network in my community? I am also currently 20% through my real estate course to get my licence and I feel like that would help with anything I do real estate wise. I am just a little lost in trying to find out how to get into the real estate market and start to make money with different methods like wholesaling, arbitrage, BRRR, etc. Any tips or advice will help.

[Carlos Valencia]

Quote from @Trace Martin:

I am trying to figure out what my next steps are. I think I know what I need to do, but would like some feedback and other's opinions. I am a few months away from graduating college with a bachelor's degree in Entrepreneurship and a minor in Finance. I currently am making $15 dollars/hour, which is about $1500-$1700 a month (roughly 20k a year) on average with about 15k saved up. I want to get investment properties, but I feel like I need more income and high amount saved. I can't really go full time because I have classes in the morning and currently work the afternoon up to 8-9PM. Should I stick with my current job until I finish my degree and then use my degree and be able to go full time in the summer with a higher paying job? Should I search for a higher paying job now and quit soon? I am also thinking about moving and that will also give me more flexibility with where I can work, so I could wait until I graduate then move. Should I just keep doing school and current job, while finding time to network in my community? I am also currently 20% through my real estate course to get my licence and I feel like that would help with anything I do real estate wise. I am just a little lost in trying to find out how to get into the real estate market and start to make money with different methods like wholesaling, arbitrage, BRRR, etc. Any tips or advice will help.

 Hi Trace, 

It sounds like you are still young early twenties maybe? If so this means you have a bunch of time to begin your investment journey and can also take more risk. Its good that you are already starting to think for the long term. Make sure you also ask your self why do you even want to begin investing in real estate? What is your goals when doing this?  

In order to begin investing you will need a high income job to get you there much quicker and live way below your means. Sacrifice now to enjoy the fruits of your labor later. If your degree will help you get a higher paying job then continue to complete your degree and keep your current job. Try to get your degree asap if you can so you can join the workforce and begin earning what your worth. If you know the degree your getting is not really going to help your earnings in the long run because it could be something generic then maybe consider working full time with the promise of eventually making more money on what you decide to pursue career wise.  I would focus on how to make as much money as possible to help build my bankroll so I can give myself more opportunities to invest. 

When it comes to borrowing money to purchase an investment property or primary the main 3 things to focus is assets, credit, income. You have all 3 of those solid and you will give yourself options when applying for a mortgage. At that point begin the mortgage planning process with a mortgage broker to see what options you will have. 

Continue with your education and real estate education as well and I highly recommend look for local real estate meetups to learn more from other and pick their brain on their deals. People love talking about their deals. 

@Albert Bui @Matthew Kwan