How to get started as a college student?

Question

I am currently in college and am itching to get started in investing and building a significant real estate portfolio.

I would appreciate some tips from people who have been in similar situations. I want to know what I can start doing now, obviously education is my primary focus, not just my college degree but my real estate education. Rest assured I have been studying relentlessly and need some help on what my next steps should be.

For example should I look at partnering with local investors? Should I look at financing from my parents?

Any advice would be greatly appreciated!

Account Closed · Answer

search bigger pockets for an article on elevator pitch. Awesome article. start out with that. Refine after every 5 people you talk to. Once you get 3-5 good responses per group of five stick with that pitch. Use own judgment on a positive response. 0-3 bad/negative/so-so responses rework pitch. Keep it fun for yourself and be prepared to network anytime or close a deal anytime. Purchase agreements/Forclosure agreements. I forgot earlier to mention cold call all the for rent houses and FSBO. Try and find any slumlords or accidental landlords. I heard this on a podcast and thought it was a golden nugget. I haven't tried it yet but its on my to do list. cold call people at random in a phone book and ask if they have a house for sale or know someone who might have a house to sell. what a great way to make mistakes while it doesn't matter rather when it does matter. Read, read, read. I can't remember where i heard/read this but it takes 5 books per subject to become a master about that one subject. thats a good starting point. Take massive action and do. Let me know if you run across any great ideas and experiences. good luck sir.

Account Closed · Answer

Start looking for deals. Door knock. Door knocking helped me get over fear and jitters. Get business cards and create an elevator pitch. Go to a walmart in a farming area and pitch it and end it with your business card and saying you offer xxx-amount for referrals. Put cards on windows of cars in parking lot.

Same elevator pitch I use I ran into someone that said he has a friend that has been thinking of becoming a hard money lender bc his cash is just sitting there. Its amazing who knows who sometimes. I sent his friend some links and articles about hard money. I'm hoping when I need a partner, private money and at worst hard money to call him.

Marketing and negotiating have been my main focus after getting a handle on the investment strategies/exits I want to pursue. Good luck and if you decide to door knock or hand out business cards to random people, give an update on how it went!

Jason Fox · Answer

Jared K. Thank you that is great action advice. What do you suggest for an elevator pitch? How would I go about that?

Jared K. · Answer

@Jason Fox The best deals are not necessarily on the market. Look at for rent ads and call them to see if they want to sell b/c your looking to buy.

Hope this helps

Jason Fox · Answer

@Victoria Winters Awesome, Thank you! I will be starting my RE licence course within the coming weeks as a part of my internship I have secured!

Joseph Ball · Answer

All good advice. I might add Buy several good books (or check them out of library). You need a good knowledge base to start. Don't spend a lot of money. (I remember what college costs were. Amazon has used books. I recommend anything by Jimmy Napier, John Schaub, John Reed, Jack Miller.

Jared K. · Answer

Not enough information really.

Did you just start at a 4yr college or have 1yr left?

Do you have good enough financials to buy yourself or partner with your parents? Probably not best to partner with a local from my experience.

Maybe you could buy a duplex, if the #'s make sense, and live rent free while growing equity by renting the other side. Then sell when you leave college or have a rental management company handle it after you graduate.

Just a thought...

Victoria Winters · Answer

Hi Jason,

Welcome to BP and the world of real estate investing.  It is wonderful to hear about your plan to get started investing.  In response to your questions, decide what you want to do.  Set a goal for yourself, form a plan and then take action on your plan.  Learning is great and you will continue to learn as you go along.  There comes a time when everyone must put some of the knowledge gained into action.

Look into getting a real estate license.  You can get a license fairly quickly and that is one step to consider.  There are many benefits for investor agents.

Best of luck.

Victoria

Joe Villeneuve · Answer

Find your local REI group, and join.  Attend the meetings and learn how all that reading is put into the real world.

Joe V

How to get started as a college student?

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