High School Senior trying to learn the Basics

[Michael McMullen]

Hello BP! You can definitely say that I am a "newbie" to real estate and BP. I am currently a high school senior and I have recently been introduced to the world of real estate investing. I will be attending the University of Akron in the fall for mechanical engineering and hopefully one day I will be able to work full-time as an engineer while I gradually grow passive income through real estate to a point where I don't have to work anymore. That sounds like a good goal right? What really intrigues me and what I wish to do someday is to buy-and-hold rental properties. This brings me to my first question. What is best for starting out, single family or multi-family units? Secondly, how can a kid fresh out of college who comes from a family with nearly no money be able to afford some of the down payments and beginning costs of most properties? And finally, any advice on what I should be doing now to prepare for the world of real estate? Sorry for the "newbie" questions I'm just trying to learn if real estate investing is right for me. Thank you!

[Michael McMullen]

@Thomas S.

Thank you for the reply. I can see where you are coming from by saying I shouldn't waste money on a college education if I just plan on quitting but I discovered real estate after I had already been accepted. I have scholarships and will be in the honors college so I will not be paying very much as it is. The degree I receive will hopefully give me enough income to start saving to put towards my investing. Also, if I come to realize the world of real estate is not for me, I still have a nice career to fall back on.