Current College Student and Don't Know Where to Start!

[Alex Mastrogiacomo]

Hello currently I am just starting my sophomore year at the University of Michigan. I am 19 years old and majoring in chemistry, but I am really looking to get into real estate investing and I'm not sure where or how to start. I have read multiple books and forms and have been fairly active in the stock market so I have a basic understanding of investments. I am really looking to get into real estate somehow and any help would be appreciated.

Thank you!

[Gregory Sabers]

Hey Alex,

My main bit of advice early on would just simply be to get yourself as solid a financial foundation as possible while learning everything you possibly can along the way.

To me, this means working while you're in school to ensure you take on no personal debt. If you already have debt, then get it paid off, after that, pile up money. The discipline all of this takes while in school will help in your life in more ways than you can imagine and will definitely put you far ahead of your peers.

At the same time, take advantage of all of these free resources at your fingertips. Play around on Zillow, get to know a market or two. Literally, look at every listing in a whole zip code on Zillow and understand what properties in that area cost on a per-sqft basis. learning a market is one of the most basic but crucial skills you can possibly develop and it's entirely free. Think deeply about what a market is, what are the economic drivers, where do people want to live and why? This doesnt have to be the market you WILL invest in the future, but once you have done this a few times, you can pick up and aim this skill at any other market, even out of state, which is very powerful. 

Early on, you should be trying to get a little taste of every aspect of real estate and finance. Become a jack-of-all trades in real estate. You have plenty of life left to narrow down and choose your niche later on, but spend the time now building a foundation of finances and working/practical knowledge. You have time, no need to rush it. A year or two of what I just described above and you will be in an entirely different league mentally.

All the best,

Greg