All Forum Posts by: Alec Avery

Hi @Daniel Haberkost ,

Can you give us a status update on these properties and what your plans are?

This is one of the first discussions I followed upon becoming a member of BP. You caught my interest because you and I are essentially the same age, and I’d like some insight from a younger investor - I’m 23.

Question. What do you do that allowed you so much capital at a young age? Looking forward to your response.

- Alec

@Benjamin Williams seems like you're in a very similar situation to me.... however I'm a bit ahead of you as I will graduate college in August with a degree in mechanical engineering.

like you, i've got the real estate bug... it consumes my mind and outside of school work, its the only thing i watch, read, listen, or think about.  after completing a year's worth of experience as a co-op, i realized that engineering is something i have no desire for and that i could not and would not do this all my life. unfortunately for me i didn't realize real estate is what I'm passionate about until I was a junior, so there is no way i would drop out that late in the game...

However, there is an upside. Engineering is a great field to be in, and it will provide me with a solid income to expedite my REI process. Like you i want financial independence. You could also view computer science as your vehicle to get you into real estate investing. Computer Science is a HOT space to be in right now and will guarantee you an above average income starting out. But if you are going to be paying out of pocket for your education, i would avoid this route if you intend on doing real estate eventually.

If I was in your shoes, yes i would drop out and go balls to the wall with a career in real estate.....HOWEVER i would caution you to make sure this isn't something that's new and exciting for you that will eventually fade. i had to do the same type of soul searching for myself a year ago, and here i am a year later with the same hunger for REI. I can't wait to graduate so i can start in investing!

Hope this was able to give you some clarity.... i felt compelled to respond because there is not many young people (younger than 25) on here.  Im 23 so i felt i could relate a little more

Good luck. 

Guys Im starting to analyze properties, and this one struck my interest.  Is this too good to be true? This unit will be student living and will be rented by the bedroom.  from the numbers I've attached it looks like this property will cashflow at least $350 right from the start - currently rents for $1400.  this is in a hot area that is growing very rapidly.  i know because i have went to school here for 4 years to see all the change! i would imagine this rent could easily be $2000 in 5 years.  Can some vets help me out and give me some direction with this? Please give me your thoughts!