Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Off Topic
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago,

Account Closed
  • Rental Property Investor
  • Farmington Hills, MI
7
Votes |
36
Posts

Begin my real estate investing career or go to school first?

Account Closed
  • Rental Property Investor
  • Farmington Hills, MI
Posted

A brief summary of me and my situation;

I’m a 21 year old kid from Michigan, currently netting $32,000/yr from two different jobs, plus an additional $3,000-7,000/yr from side hustles. (I’m a chef, and I help maintain an 80,000 sq.ft. office building. I do property maintenance.) I’m able to save at least 65% of my total income a year. My desire is to be a landlord and to invest in real estate. I have a mentor that I work with everyday who has the connections and experience in real estate investing. He’s no Grant Cardone, but he has flipped 6 condos in the past year and currently owns two rental properties. His gig is flipping. God willing, mine will be renting. I do not own any properties yet; but currently, my credit score is 710, I only have $10,000 for reserves, and my knowledge of this industry is broad. So, I have a couple more years before I’ll be ready to purchase my first investment property. 

However, my advisers believe I should finish college, so I’ll have an education and a better chance at an entry-level job in the years to come. They believe I can then use that job to fund my ambition, plus have a degree to my name. While I understand their point of view and agree to an extent, I also think it’s a waste of time. I know it’ll cost me about $6,000 cash, $8,000 in opportunity cost, and two years to finish my degree in Applied Science with a concentration in Business Management. I’m big on listening to and following sound advice, but I don’t know if going is the right decision. I don’t want to be the guy that fails because he didn’t listen, but I feel why wait to pursue my dream. Why spend my time in school studying when I can be working. I don’t know if I should go back to school next semester or just work, but I am leaning towards work. I’m  leaning towards the continuation of establishing my credit and work history, building my capital, and increasing my knowledge instead.

So, I know this isn’t really a question about real estate, but if someone experienced could spare advice or an opinion, I would appreciate it.