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Updated about 12 years ago,
Wholesaling in College?
Hi BP Members!
Investing newbie here! I've decided to take whatever steps I currently can to become financially independent and grow a business so I don't have to work in a conventional office.
Here's the problem...
I'm a college freshman. School is my priority. However, I don't have a part time job like many other students. This means that I have ample time to devote to starting my investing career. I'm thinking that wholesaling is the best way for me to start, as I don't have a lot of money to put down on a mortgage or rehab. My parents are very supportive of my dreams and will help me start off financially. My mom's actually been putting money in to a separate account since elementary school when she noticed that I was constantly watching HGTV and Flip This/That House instead of Cartoon Network like most other fifth graders.
I have about $8,000 that I can use (if necessary) to start. I'd be able to work on Saturdays and Sundays, as well as another two nights a week for about 6 hours. I always find time for homework (my social life is pretty busy, but my dreams are becoming more important) so I'm not worried about falling behind in school; I've always been able to make good grades and stay out of trouble. Never even gotten a parking ticket! Oh, I also have a car, so driving around looking won't be an issue.
So, how should I start?
Should I contact an investor in the Atlanta area and see if he/she will mentor me? Are internships available in this business? I'm studying business and economics in school, and have taken more advanced classes in those topics, if that makes a difference.
Should I begin wholesaling independently right away? If so, should I just start compiling a buyers list, and driving around scouting out properties, putting up bandit signs, sending letters, making calls, etc.?
Or, is this even something I should pursue right now? I feel like I'm ready to do something to ensure my future financial goals, and real estate is my true passion. I love everything about houses and buildings. I love designing spaces (which is why I want to start rehabbing one day) and I love running things and taking initiative. I love being a leader and working independently.
Any advice?
Thanks,
Simon