Goals and Aspirations

[Ryan O.]

Hey everybody,

I just wanted to get some advice about my future aspirations for real estate investing. A little background info is in order as I do not fit the "typical" REI role. I am 20 years old, finishing up my sophomore year of college at the University of Michigan studying Economics and Environmental Studies. I have long had an interest in investing in real estate and am in the process of educating myself so I can come out swinging.

My goals for the future are pretty basic: I hope to secure a job in Florida and begin investing with my father to supplement my income. The type of investing I am looking at doing is fix and holds and maybe a few fix in flips (dependent upon the market and how comfortable I feel). I have been reading a lot and taking notes on everything I hear, and of course have questions about it.

My goal is to secure $1000 of passive income within 3 years of graduation (2020), is this a realistic goal for someone who plans on pursuing it on the side, or is this goal even to small?

I have no experience with construction, repairs, maintenance; is it better to learn the trade and handle small fixes or contract everything out?

Should I become a licensed real estate agent and work at a broker for a while to establish a network while also learning the ropes?

Also a lot of the books I have read were published around the height of the real estate market, does anyone have any suggestions for books that may be more relevant to the market we are currently experiencing?

Any insight, advice, personal experiences that people can share will be greatly appreciated!

[Skyler Smith]

@Ryan O. I think keeping an active license and a full time job is manageable for sure. I got my license while working my full time job and at first didn't intend to go full time in real estate. I juggled both for two years, and could have for a lot longer. If someone were thinking about getting their license, I would probably encourage they keep working a job or have investments to carry them through the beginning phases of being an agent