High school senior in Pittsburgh... What's the next move?

Question

I am currently an 18 year old high school senior in Pittsburgh PA! I have been reading and listening to every bit of information I can gather right now so I can make an informed decision on my next move. I have gotten offers from multiple colleges but I am not sure if I want to go the route of higher education if my goal is real estate investing. I have heard many investors say repeatedly that the money they spent on college was a complete waste. I don't have a passion that I am dying to study and dedicate the rest of my life to so I am not jumping on the idea of college at the moment. If I were to go the route of REI without a college education straight out of high school... what are the prospects of that? Everyone on Biggerpockets emphasizes the importance of going out and making your first deal but I am not sure if this concept still applies to a high school senior with very little/ no starting capital because of the obvious limitations.

My current base of knowledge for real estate investing comes from....

abundance of Biggerpockets podcasts

Brandon Turners low and no money down investment book

Rich dad Poor dad book

parents experience with a 2 rental properties

Any advice at all would be greatly appreciated about next steps for my future!

My current base of knowledge for real estate investing comes from....

abundance of Biggerpockets podcasts

Brandon Turners low and no money down investment book

Rich dad Poor dad book

parents experience with a 2 rental properties

Any advice at all would be greatly appreciated about next steps for my future!

Hansel Akers · Answer

@Nico Savoia - I say go to college AND invest in real estate.

I know schools around Pittsburgh have great opportunities for real estate investing (and low prices) which can be incredibly lucrative for house hacking...  buy a place at school, rent out all the additional rooms.  You’ll be able to hold onto that place forever after you leave!

Just my .02.

You are miles ahead of how I was thinking at 18.  Congrats on your grind and good luck (you won’t need it).

-Hansel

Alexander Szikla · Answer

You're totally on the right track, however, I would say still go to college!

With that being said, if I were you, I would look into getting my RE license. Wish I had done it when I was younger. You have the time right now, it is flexible so you can balance it with school work and the start-up costs are quite low.

It will give you access to deals and help you learn with other people's money while providing income to use as a down payment!

Dan Sheeks · Answer

Hey @Nico Savoia

Congrats to you for your ambition! I work with a bunch of young aspiring real estate investors just like you (in a free online group), and I am willing to help you out with some advice or even chat on the phone if you wish. But first I recommend you read this article I wrote for Bigger Pockets titled How to Invest in Real Estate Before Turning 21. Once you've read it, let me know your thoughts and if you have any questions. I am a high school teacher in Colorado and I am always looking to help young people get started in real estate investing or help in any way I can. Let me know if you want to chat sometime. https://www.biggerpockets.com/..

Jabbar Adesada · Answer

@Nico Savoia

I wouldn’t complete write off school, going to a cheaper local community college is a cost affective way for you to still obtain your higher level education while still using your free time to crush your real estate investing goals. Imagine where you want your life to be and why you think real estate will help you get there. Set goals! Learn as much as you can about all the different concepts in real estate on a surface level, then start to dive deeper into the strategies that will help you accomplish your goals. Structure your focus in a way where you are trying to master a specific niche. And know where you are at right now. Maybe you want to buy and hold small to mid side multifamily and need capital. You’ll need capital, even if you have everyone else’s money you need your own capital. Ways to get capital: Flips, Wholesales, agent commission, side hustle, or even a good paying W-2 job. Maybe you just want enough cash flow to be financially free? You’ll need some income to qualify for residential mortgages and it’s much easier with a W-2. Your plans might change, but as long as you pick a direction and stick to it you’ll kill it!

Build organic relationships with people who are where you want to be, get as much actual experience as possible as soon as possible, you can intern, try and find a job in the industry or apprenticeship! Just figure things out backwards from your goals and your solution will be more clear. To answer your main question you can invest right after high school as a young person, I just bought my first property and I’m 19 and I know others doing or have done deals at 18. So it is posib

Jason Papp · Answer

@Nico Savoia very nice, that experience definitely puts you well ahead of 90% on investors at your age.

Joe S. · Answer

I’m not saying you should or shouldn’t go to college, but for many people they want to go to college after they miss the most convenient time in their life to do so.

Jason Papp · Answer

@Nico Savoia Have you considered getting involved in the property management of your family’s units? Great lessons to be learned there.

Alexander Szikla · Answer

Well, I understand your hesitation but the journey of a thousand miles starts with the first step.

You may not know anything now, but you will in a year! So whether you start at 18 or 48 you are starting at the "same place". Over time, if you deliver, you will cultivate relationships and a reputation for yourself. It is also a good way to find a mentor whether it be another agent/broker or an investor.

Practically speaking, you might have to start out with rentals at first before building yourself up - but patience is a virtue!

Nico Savoia · Answer

@Dan Sheeks

Fantastic! I just finished your article and soaked up every bit of information in it. I promise that you will be hearing from me in the future! Thank you for taking the time to help educate others with all the information you have! It is greatly appreciated.

Aigo Pyles · Answer

Join real estate networks in your area and get a mentor.

All the best!