No0b from Minneapolis, Minnesota

[Wane Zaza]

Hello I'm 28 not originally from Minneapolis but this is where I work and go to school. Still in school because I dropped out a few years ago. Then I read a ton of Richard Kiyosaki's books, decided in-order to save and invest at least 30% of my income I wanted to make more money so I can put more of it away in order to invest in Real Estate, private placements, or what have you. Real estate is a solid place to start from I believe. 

My plan real vaguely is this: Go to school for accounting/finance, possibly get a Masters degree. Make more money (because of a better job), put more away, and invest it along the way as the deals come and go. 

Well I am still about 2 years from a bachelors, and 2 more years from a masters. So I have 4 years to learn as much as can and make as many mistakes as I can. Of course I still plan to continue learning after the 4 years, but it would be nice to get my hands dirty before that time.

With that said, at least for now, the type of real estate investing I am curious in learning more about would be "little or no money down " as well as "buy & hold" types. 

I hope I did the intro right, I am a bit of a rambler, so sorry for rambling. Excited to be on this site, and learn as much as possible. Thank's for reading! 

[John Woodrich]

Hi @Wane Zaza, welcome to BP.

I am not sure where you are going to school but I would highly recommend getting your BA, getting some work experience, and then going back for your masters degree if you chose to.  I majored in Finance and Accounting at the Carlson School (U of M) and subsequently went back to complete my masters in tax (MBT) a couple years ago at the same school.

Couple reasons for my recommendation is that there is a large learning curve in Finance or Accounting after leaving school.  If you work this job, things go well, you are in a good position to decide whether you want to commit yourself to the profession. If you go for accounting, you should go for the CPA exam and after passing your employer may pay to send you back for  a master's degree.  In class you will be better prepared to take things in and you may not leave with $50k in debt.  School is a big commitment, sure is nice if you can get out of paying for it!

There are many strategies on this site to help get you started in RE investing such as house hacking and the BRRR approach. At the end of the day we only have so much time and so many resources, I would not pigeon hole yourself into a plan when you may find something else may be better.

Separately - my office is in Brooklyn Park off hwy 694 and Boone if you would like to stop by and discuss real estate investing or the finance/accounting career paths.

John Woodrich, CPA