All Forum Posts by: Account Closed

Thanks for your feedback. I appreciate it. 

You’re right, if I was working like I am now for a year I should have about $25,000 saved. However, not only did I just start my second job (chef) a few months ago, but I also wasn’t committed to investing in real estate. So, I just recently revised my spending/saving habits, and now I just reached my reserves goal at $10,000.

 I know that if I’m consistent and disciplined then I can maintain at least a savings rate of 65%. I net about $640/week from the both of my jobs. My total expenses are $755/month. 

I’ve been in school part-time for about year. I have 18 credits and need 44 to finish. It’s not that I think education is a waste of time, but rather spending time & money in school when I can and have learned a lot of information from books and researching online. I value my education and believe in learning. I just don’t know if an associate’s degree in Applied Science with a concentration in business management is worth the time and money. I mean after all it’s not the piece of paper that qualifies a person, but rather their experience and what they know. 

I thought about buying a multi-family home and renting the other unit(s) out, but there aren’t any good deal in my location that are affordable. 

Thanks for your response and your time. I don’t mind being a chef or a property maintenance laborer. However, I don’t want to be either of them the rest of my life, but I do them because they are a means to an end, and both are very convenient for my current situation. 

My end goals are to net $100,000/yr in rental income, so I can spend my time with family, traveling, consulting. I have a passion for sharing my experiences and helping other people get through theirs. I am also very interested in real estate, but I am not a salesman, it’s not my strength. I’m more of a numbers guy, and I can manage. I know how to do my homework. So, my end career goals are to a be consultant and a landlord; someone who invests in real estate. 

However, before I can get to that point in my life, I understand that I must work, which I am doing. But, I don’t how long my current jobs/situation will be stable and convenient. Now, there are no indications that they are going to end anytime soon, but eventually the convenience part of my situation will come to an end. So, this is part of the reason why I’m contemplating on whether or not I should finish school or just continue working and saving. 

The next job/position I’d like to move towards is property management. In my area, the starting salary is roughly $33,000/yr. A degree isn’t needed for this type of work, but it could help. Some employers do want you to have a degree, particularly a bachelor’s, while others are more concerned about experience. I’m not quite sure on how difficult it is to get this type of job. 

Ok, thanks for your time and response. I appreciate it.

@Frank Patalano

For me, it’s not really a matter of taking action, but rather a choice on which route to go.

So, here is a brief summary of me and my situation;



I’m a 21 year old kid from Michigan, currently netting $32,000/yr from two different jobs, plus an additional $3,000-7,000/yr from side hustles. (I’m a chef, and I help maintain an 80,000 sq.ft. office building. I do property maintenance.) I’m able to save at least 65% of my total income a year. My desire is to be a landlord and to invest in real estate. I have a mentor that I work with everyday who has the connections and experience in real estate investing. He’s no Grant Cardone, but he has flipped 6 condos in the past year and currently owns two rental properties. His gig is flipping. God willing, mine will be renting. I do not own any properties yet; but currently, my credit score is 710, I only have $10,000 for reserves, and my knowledge of this industry is broad. So, I have a couple more years before I’ll be ready to purchase my first investment property.

However, my advisers believe I should finish college, so I’ll have an education and a better chance at an entry-level job in the years to come. They believe I can then use that job to fund my ambition, plus have a degree to my name. While I understand their point of view and agree to an extent, I also think it’s a waste of time. I know it’ll cost me about $6,000 cash, $8,000 in opportunity cost, and two years to finish my degree in Applied Science with a concentration in Business Management. I’m big on listening to and following sound advice, but I don’t know if going is the right decision. I don’t want to be the guy that fails because he didn’t listen, but I feel why wait to pursue my dream. Why spend my time in school studying when I can be working. I don’t know if I should go back to school next semester or just work, but I am leaning towards work. I’m leaning towards the continuation of establishing my credit and work history, building my capital, and increasing my knowledge instead.

So, I’m not really looking for an answer to what I should do, but rather more insight, advice, or an opinion. I’m sure this isn’t a typical question, but if someone could spare a bit of wisdom, I would appreciate it.

A brief summary of me and my situation;

I’m a 21 year old kid from Michigan, currently netting $32,000/yr from two different jobs, plus an additional $3,000-7,000/yr from side hustles. (I’m a chef, and I help maintain an 80,000 sq.ft. office building. I do property maintenance.) I’m able to save at least 65% of my total income a year. My desire is to be a landlord and to invest in real estate. I have a mentor that I work with everyday who has the connections and experience in real estate investing. He’s no Grant Cardone, but he has flipped 6 condos in the past year and currently owns two rental properties. His gig is flipping. God willing, mine will be renting. I do not own any properties yet; but currently, my credit score is 710, I only have $10,000 for reserves, and my knowledge of this industry is broad. So, I have a couple more years before I’ll be ready to purchase my first investment property.

However, my advisers believe I should finish college, so I’ll have an education and a better chance at an entry-level job in the years to come. They believe I can then use that job to fund my ambition, plus have a degree to my name. While I understand their point of view and agree to an extent, I also think it’s a waste of time. I know it’ll cost me about $6,000 cash, $8,000 in opportunity cost, and two years to finish my degree in Applied Science with a concentration in Business Management. I’m big on listening to and following sound advice, but I don’t know if going is the right decision. I don’t want to be the guy that fails because he didn’t listen, but I feel why wait to pursue my dream. Why spend my time in school studying when I can be working. I don’t know if I should go back to school next semester or just work, but I am leaning towards work. I’m leaning towards the continuation of establishing my credit and work history, building my capital, and increasing my knowledge instead.

So, I know this isn’t really a question about real estate, but if someone experienced could spare advice or an opinion, I would appreciate it.

A brief summary of me and my situation;

I’m a 21 year old kid from Michigan, currently netting $32,000/yr from two different jobs, plus an additional $3,000-7,000/yr from side hustles. (I’m a chef, and I help maintain an 80,000 sq.ft. office building. I do property maintenance.) I’m able to save at least 65% of my total income a year. My desire is to be a landlord and to invest in real estate. I have a mentor that I work with everyday who has the connections and experience in real estate investing. He’s no Grant Cardone, but he has flipped 6 condos in the past year and currently owns two rental properties. His gig is flipping. God willing, mine will be renting. I do not own any properties yet; but currently, my credit score is 710, I only have $10,000 for reserves, and my knowledge of this industry is broad. So, I have a couple more years before I’ll be ready to purchase my first investment property. 

However, my advisers believe I should finish college, so I’ll have an education and a better chance at an entry-level job in the years to come. They believe I can then use that job to fund my ambition, plus have a degree to my name. While I understand their point of view and agree to an extent, I also think it’s a waste of time. I know it’ll cost me about $6,000 cash, $8,000 in opportunity cost, and two years to finish my degree in Applied Science with a concentration in Business Management. I’m big on listening to and following sound advice, but I don’t know if going is the right decision. I don’t want to be the guy that fails because he didn’t listen, but I feel why wait to pursue my dream. Why spend my time in school studying when I can be working. I don’t know if I should go back to school next semester or just work, but I am leaning towards work. I’m  leaning towards the continuation of establishing my credit and work history, building my capital, and increasing my knowledge instead.

So, I know this isn’t really a question about real estate, but if someone experienced could spare advice or an opinion, I would appreciate it.