New 20 year old want-to-be investor.

[Bryce Ewing]

My name is Bryce, and I am a sophomore at the University of Nebraska-Lincoln. I have been reading on entrepreneur skills, and real estate for about a year now. I would love to do it for a living, and I am currently an intern for a man who does just that. I see how independent it has made him, and I aspire to be that way in the future.

My current issue right now is finding how to finance deals without a career. How will I get taken seriously? I have roughly 25k saved up from working, and my college fund no longer needed (got an academic scholarship); but without a "salary" I am afraid I will not qualify for anything at a decent rate. 

[John McConnell]

very nice. Just starting and getting that first property under your belt is always the biggest hurdle. If you have been studying real estate for a year and have a solid mentor you are leaps and bounds ahead of a lot of new investors. I would sit down and figure out what strategy you may want to invest in for long term...what your exits will be.. What you want your money to do for you and what kind of return you are looking for. I love the idea of getting a place big enough for you to live in and rent out the rest. Land lording is not for everyone but it is one of the building blocks in my opinion. You have to at least understand the fundamentals of it even if your future strategy is not to be a landlord. You could certainly partner with someone. Maybe find a wholesaler (at local REIA) where you could get into a decent deal...you have to determine what numbers work for you... I would guess that hard or private money would be the way to break in and you could then refi out at some point. You may start talking to banks and mortgage brokers in your area in order to establish the relationships that will help you in the future. I just talked to one the other day and came to find out that we have a common interest in cars. A great ice breaker and he will not forget me too soon. Good luck and I'm very sure that you will find whatever answers you may have here in these vaults called bigger pockets! Happy holidays as well and may you have a safe and prosperous new year!