Where should I go from here??

[Steven Nitschke]

Hey guys(girls)

Let me start with a little background

>Im 23

>Live in SE Wisconsin

>Dropped out of College in 2015 because wasn’t sure my direction

>4 yrs working full time for family owned HVAC business (730-430 M-F)

-HIGHLY Interested in real estate and land development for 2-3 years

>Last year bought 2, 2-fam lots

-Built/sold 2, 2 fam condos

-Gained capital that I want to reinvest

>Just closed on my 3rd duplex lot going to begin building in May

>Just purchased my first rental property:(Hartford Wi duplex)

-Trying to diversify portfolio

-Paid 200k 10% down

-Rents 850 per side (thinking about upping rents, also want to incorporate a BRRR process)

This is currently where I’m at^. I’m basically at a point where I don’t want to stick my neck out too far while starting out, without proper knowledge/experience. Met with a few great people while networking and searching for mentors. Some suggest I go back to school to apply my current knowledge and build around that with some sort of business/real estate investing classes/courses/certificates/associates degrees.

I currently am reading books, forums, listening to BP podcasts daily trying to gain as much knowledge while still handling my “9-5” and also my portfolio I mentioned above.

I want to keep growing, but I don’t want to get ahead of myself, are there any degrees or programs that I can take to kind of get a better grip on analyzing markets, valuing assets, and gain other essential skills needed for a real estate investment career? At some point I’d be interested in getting my realtor license as well.

If you guys can provide me with any advice I’d really appreciate it. Keep buying rentals with capital and financing & diversifying & building my portfolio while learning on the fly or step back and sharpen some corners in my brain so I go at it with a more fundamental and knowledgeable approach??

Thank you & I love this page/BP community!!

[Marcus Auerbach]

@Steven Nitschke congratulations to your success so far! You are 23, you own rentals and you have built - that is HUGE for you age! I would say you are past the steepest part of the learning curve! It get's easier from here.

I would not encourage you to go back to college, unless this is something you crave and you feel like studying would make you happy. I have a degree in mechnaical engineering and one in automation and never worked as an engineer. College education is usually a requirement, if you want to climb the corporate ladder and are looking for a W2 career in management. Which is something I did for almost 20 years and will not go back to!

If you are looking to aqcuire skills that help you grow personally and intelectually you have two options. One is to pick specific classes and seminars that teach skills you need. For example, if you want to better understand the financial side of business take a 6 week accounting class for business owners (not one for bean counters) and learn how to read a balance sheet, a profit and loss statement and how to manage a business based on numbers.

If you want to advanace you real estate skills and push your envelope, take a job with a large real estate developer or builder. You could work as a project manager, expeditor or field tech. The most interesting jobs are on the interface between jobsites and the office. People who can bridge the gap between white collar and blue collar worlds are always in demand and the jobs are very interesting. Always try to work for the skills you can obtain, don't work for money. On that note, if you have not yet, read Rich Dad Poor Dad.

Meanwhile keep growing your portfolio, reading and networking. If you have any questions feel free to reach out and time! Good luck!