College Student Preparing for Real Estate Future

[Miller McSwain]

I am a junior at the University of Tennessee studying engineering. I began listening to the BP podcast last summer and just finished reading "The Book on Rental Property Investing". Needless to say, I am extremely hyped right now, and I am starting to plan my real estate future. Right now, I am planning to start my engineering career in 2021 and work for 10 years while saving 60% of my income, investing in rentals when I reach the threshold of a down payment.

Does anyone have suggestions for things I can do before I graduate to better prepare myself for the real estate world? I am going to continue reading books and listening to the podcast, but are there any other things I can do to help prepare myself without actually buying a property? For example, would getting my real estate license be a good use of my time?

Thanks for your time and I look forward to getting more involved with the community.

[Michael Ealy]

Originally posted by @Miller McSwain:

I am a junior at the University of Tennessee studying engineering. I began listening to the BP podcast last summer and just finished reading "The Book on Rental Property Investing". Needless to say, I am extremely hyped right now, and I am starting to plan my real estate future. Right now, I am planning to start my engineering career in 2021 and work for 10 years while saving 60% of my income, investing in rentals when I reach the threshold of a down payment.

Does anyone have suggestions for things I can do before I graduate to better prepare myself for the real estate world? I am going to continue reading books and listening to the podcast, but are there any other things I can do to help prepare myself without actually buying a property? For example, would getting my real estate license be a good use of my time?

Thanks for your time and I look forward to getting more involved with the community.

C. Miller,

Yes there are.

1. Get a credit history started, and then do a house-hack even while you're in college. You can save up your downpayment through having a side job while you're in school. Then get your college friends to live with you and pay you rent - so you live rent-free.

2. Get a license as it gives you access to the MLS so you can do #1. You can also get hired as a leasing agent so you know how to market, find and pre-screeen tenants by actually doing it and getting paid.

3. Learn creative financing to acquire real estate. By doing so, you can buy real estate with NO cash coming out of your pocket or as little cash as possible.

4. Learn how to communicate, how to persuade people and how to lead. Join Toastmasters and strive to lead or have leadership opportunities in various school organizations while in college. Real estate investing is a team sport and you need to become a leader to lead your team and succeed.