"Green" Looking to Switch Career Engineer to REI Tampa, Florida.

[Julian Le]

Hello BP, My name is Julian Le. I am a 23 year old engineer with a degree in Manufacturing Engineering Technology. I currently work at an engineering consulting firm. Starting out I am making around 52K. I’ve done relative well in school, earning the honor for cumulative. Right now I have 2 opportunities to work for a larger corporation where my pay will increase without a doubt to 66k. But the work is not challenging and my fellow co-workers have instructed me to slow down on numerous occasion. I have been looking for Real Estate Investment for the past few years. I am currently torn as I am very interested in REI. I have been working since the age 15 so I have a decent amount saved up as I am paying my minimum on my student loan payment.

My ultimate goal is to achieve as much I can while I am still able. I want to become a CPA as it caters to self-employment of a Real Estate Career where I would obtain client through one services and be able to recommend them to another ex. Financial Advisement, Files Taxes, Real Estate Investment. If I were to be ambitious I have the option to open a Brokerage firm/Finance Advisory (or tax filing) services. I also plan doing flips and property management during this time for passive income.

I’m currently residing in Illinois but wishes to relocate to Florida to invest (Escape from the COLD).

6 Year plan.

1. REL. While work for the next few month I’ll pursue a Florida real estate License. (In Process)

3/2016 – 8/2016

2. Moved down to Florida

I will try to either get an:

A) Engineering job which pays well enough for me to cover my expenses and fund my REI.

B) Real Estate Agent where I won’t make much but will learn about the market and the inner workings of the art of the deal and evaluation of homes. I will also have time to pursue my other goals as I work on my own time?(My Preferred Option)

3. GMAT. After settling in with the job and adjust somewhat to the learning curve. I will start studying for the GMAT. Which I have heard is quite difficult. I am giving myself a year to study.

9/2016-8/2017

4. MBA. At this time I will have been a resident in Florida for a year which hopefully qualify me for instate tuition.

I will a lot myself 4 month to finish up Pre-requisite module and 2 year to complete an MBA part-time.

9/2017-1/2020

5. CPA. Once finish with my MBA I will start studying for the CPA license. Which I’ve heard is even harder.

2/2020-12/2021

6. REB. Get Real Estate Brokerage license

Requires me to have a real estate license for 5 year and practice the last 2 year prior to getting the brokerage license.

12/2021-3/2022

Real Estate Licensing FEE(does not include REALTOR Or BROKERAGE FEE)
Real Estate Class (Audio books, Extras)	299
Application Fee	89
Fingerprinting	60
Practice Test	20
Test Fee	32
Post Test Class	119
Subtotal	619

GMAT
Book	144
Test	250
Subtotal	394

MBA
Pre-requisite module	3000
In-state Tuition	16617.24
Online Class Fee	1800
Documentation Fee	100
Subtotal	21517.24

CPA
Self-Study Review Course	1300
Apply for 2 section AUD + BEC	536.60
Apply for 2 section FAR + REG	536.60
Reapply For REG (Retake Exam)	271.25
Self-Study ethics exam	125
Initial CPA certificate application	165
Subtotal	2934.45

Summary of fee Excluding Brokerage License

Real Estate License	619
GMAT	394
MBA	21517.24
CPA	2934.45
Real Estate Brokerage License	------
Subtotal	25464.69

So this is my plan thus far. I'm not sure how far I'll be able to get in regards to finishing this list as everything is contingent on a previous task.

How was this written? Any tips and pointers greatly appreciated.

I am looking to move to Tampa, Florida this fall and would greatly appreciate if someone is willing share with me on my career goals, Housing market, and Real Estate Knowledge.

It would be nice to have a Season REI teach this "green" the ways of the world.

[Jimmy Chou]

@Julian Le 

First of all, love your awesome first post and welcome to BP.

Second, screw your fellow co-workers that's instructing you to slow down. Your ambition is what's going to separate you from them. As one seasoned investor in my community always says... You can't steal in slow motion! I'm also a firm believer of your "achieve as much as I can while I am still able" philosophy.

Here's my two cents on your situation...

While your goals and plans are very sound on the credentials you want to get, perhaps you might want to think more about what you want to accomplish with those credentials. What are your financial goals? What are you trying to build into your empire? What are the components you want to be hands on with? What can you outsource? Who should you be networking with now? Who will you need in your team?

Just coming out of the school may have you stuck in the "study mode". However, plenty of investors would tell you that they don't need an MBA, CPA, RE License to accomplish what they need to do. Don't get me wrong though, I don't mean they're going to hurt you either. In fact, having a great job can be helpful when you go to lenders to get the first few loans toward investing. My point is, there are things you can also be doing right now without those credentials to get your feet wet. If investing is what you set out to do after the 6 year study plan, why not start now? Since there aren't much going on at the investing side yet, I would take that 66K job and try to get your feet wet with real estate while you do the things you set out to accomplish.

Good luck with everything, I'd love to stay connected.