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Updated about 6 years ago on . Most recent reply
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I would love your knowledge!!
Hello my fellow success seekers. I am a seventeen year old that is desperate to learn about real estate investing. I am currently growing up in a family that is pushing me to go to college and get a prestigious job.I am desperate to prove to myself and my family that I have what it takes to be a real estate entrepreneur. I would be glad to find some guidance so I can set myself up for success in the future. If are knowledgeable in Michigan real estate or simply want to chat I would greatly appreciate a message. Thank you.
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I wish my son ever asked me this question. Very good advice so far, here are a few of my thoughts.
1. As said before, do not skip higher education. Choose a college that will give you a good education on the subjects you are interested. If real estate is your focus, go after business and accounting among other courses. Boutique colleges (UOM, MSU, etc) will give you a strong resume which is useless if you have independence in mind. Frat parties and campus life are cool, but a distraction for people with a short term goal in mind like you (I wish I knew this when I was 17). You can get an associate degree in a community college and finish your bachelors after, saving tens of thousands of dollars.
2. Read, read, read. Work, work. work. While you don't have the cash to start, use your time wisely. School will give you part of your education, but the majority of your knowledge will come from reading and working on subjects related to your goals. If you haven't done so yet, read Rich Dad Poor Dad and Set for Life, two of my favorites.
3. 80% of the US population is in some sort of debt. Don't get advice from anyone without checking if that person can be trusted. For example, in my family there is not a single person that I can discuss financial independence, everybody believe in working for a good company and retiring at 65. And everybody is in debt.
4. Find a mentor. Work for free if necessary to acquire the knowledge you want to have. You will be surprised on how many "important" people are willing to develop a mentee. If you haven't done so yet, watch "The Pursuit of Happiness" with Will Smith.
5. Consider the well-being of others in your projects. I personally rent a house at a discounted price for a family of (legal) Syrian refugees. It is totally possible to make money and still do the right thing.
6. Mens sana in corpore sano. Eat healthy foods, exercise both body and mind, and develop good habits.
I hope this helps and I wish you the best. You are making the right questions and certainly in the right path. Remember, this is my opinion, please do your own research.