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Updated almost 8 years ago, 01/11/2017
College Student
Hello BP!
I just started my Junior year in college and want to focus the application of my studies towards Real Estate. I turn to you, BP, to help me gain insight on the path I should align myself with as a college student with so many different areas and things to learn. The ultimate goal is to pursue Fix + Flips/Buy + Holds, but as a college student with little capital, that is a longer term career goal. What can I do in the immediate term besides the typical "focus on your studies and wait until you're out of college." I was one of less than 20 in my high school graduating class to receive their Associate's degree at graduation, while also averaging 30-35 hours a week at work. So I guess my ultimate question is, What can I do at this point in time to begin my Real Estate career now? I am eager and ready to learn.
Thank you in advance,
Ryan Taylor
Ryan,
Based on all that I have read on and off BP I would suggest a house hack. If you are not familiar with the term it means you buy a SFH or small multiunit and rent out the rooms. Being in college I'm sure you know plenty of students looking for off campus housing. Take advantage of this and start your career as a landlord.
Also I would recommend getting a part time job or paid internship with a real estate firm. Some examples would be a property management company, brokerage firm, investor apprentice, etc. Learn the business without taking on any of the risk. You can build up some capital as well.
Hope this helped. Good luck.
If you are that good at school have you ever thought about getting your realtor license? 4-6 weeks and you could be one. Great commissions, learn the lingo, learn selling skills and people skills. No bank is going to loan you the money until you have typically been on your full time job for 1 year.
@Ryan Taylor Way to go, I wish I would have started in college. I can think of a few things that could help you get started.
1. Look into marketing and wholesaling - Fairly cheap barrier to entry and can build capital pretty quickly.
2. Network as much as possible at local real estate events, meetups, etc - Mostly free
3. Read as many books as you can get your hands on - Not free, but worth it for the insight and knowledge
4. And of course stay active on Biggerpockets, you'll make a lot of good connections here.
Best of luck!