College student, what to do next?

Question

Hey everyone!First I'd like to say this site and the people here are awesome. So much information and much to learn. My Situation: I am a sophomore in college. I planned on studying and going into some sort of engineering, mainly because of job security and being told often that is what I should do. However, I have known real estate is my calling for a long time, I just need a little help what direction to take.Question 1: What major should I get my degree in? The university I am at offers degrees many degrees including marketing, business management, accounting, construction management. My father is a general contractor so I have a lot of experience working with him such as inspecting houses and know the costs of repairs, ect. I am a current engineering major but I plan on changing that. I know real estate is a very broad field that includes many skills. Any recommendations as what I should major in? Questions 2: My goal is to get into owning properties that I rent out, single family units at first to get the hang of it, then moving on to multi family units. There is a school where I could become a certified realtor near by. Would that be a wise thing to do in addition to my degree at college?Question 3: To be honest, I am a broke-ish college student who is about to get married. Weddings and the like are exactly cheap. However, I do have a pretty decent job in retail. I have thought about buying a duplex or something similar and renting out the other half, but currently I am working on building my credit because I do not have too much history. What else can I do to get started now while I am in school?

Christos Philippou · Answer

personal opinion, don't get upset with me: your major in college is absolutely useless (unless you're going to be a doctor, lawyer, or engineer which require very very specific training). If you're going to study "business" or marketing, or "leadership" or anything else, it seriously doesn't matter. I studied art history and have a bachelor of arts in it simply because I enjoy studying art. I will never use anything I learned, ever. Your experience, motivation and ability to convey your wants and wishes to others is what will get you to where you want to go. There is no major that will make you better in real estate.There are tons and tons of threads about whether or not to get licensed and get access to the MLS etc. There is no answer to this question and everybody will only be able to give you their opinion. Sure, you can get access to the MLS, but that doesn't do much good if every other investor is also on there looking for the same deal. I graduated 2 years ago and have 2 multi family properties and about to close on my primary residence next week. Be creative with financing, join local investing/real estate groups, and start making phone calls to lenders to see what you can do.

Brandon Ingegneri · Answer

You can shop around for wholesale deals. Quick money with little or no money out of pocket. It is a nice way of building a foundation, and even when you are established, it is still great because you can grab those nice little hits.

John Ching · Answer

Christos offers real world insight, pay attention to his words!Myself, being a college grad from long ago, echo his sentiments. However, since you are in college, get your degree. As for a relative field to RE investing? I'm partial to RE finance, since it would help you land a job as a mortgage banker/loan officer if you wanted to have a steady 9-5. it will also help you understand the ins and outs of credit and asset management and what to look for when helping clients qualify for bank loans.As a broke-ish college student, follow Brandon I's advice and try your hand at wholesaling. It's a great way to become involved with RE investing without a war chest of money. Search BP for the best advice on getting started in wholesaling (marketing, estimating rehab costs, properties to look for, how to estimate ARV, etc.)Best of luck, stay the path and you will succeed.

Christos Philippou · Answer

I will say, however........ a degree, ANY degree, is quite critical these days. the country is becoming a place where a bachelor's is a minimum requirement. So if you want any other job outside of real estate, you may want to finish your degree is something.

Nate Mountain · Answer

I fully understand. I am coming to that realization that a degree is not necessary like in other fields and really does not carry that much weight in real estate. Its a hard realization but I understand. I want to be productive with my time as possible as I build credit and capital. Possible getting certified as a realtor could be useful and wouldn't take too long. I am interested in wholesaling. To be honest I don't know all the ins and outs of it but I am reading and learning as much as I can.