All Forum Posts by: Ly Nguyen

 I'll keep you in touch. Once I figure how to finance a deal properly without making costly "rookie" mistakes!

@Duane Glover

I am trying to pursue a license as a Real Estate Sales person in California. My initial plan, yet messy and jumbled, is to learn as many skills to be of use of value and gain enough income to fund my deals.

I met an agent while I was looking at open houses today and I met his girlfriend who was also agent. They were both from different realtor groups. I have an idea which brokerage to join now.

As far as finding deals to investing, I am just learning the math behind what deal cash flows. I will be trying to get an FHA or 201(k) loan at a local bank in hopes of funding my projects. More than likely i will get denied because I do not 2 years of W2 Income and it was a minimum wage internship. Maybe I'll continue going to meet-up such as a REIA. but this time I will be introducing myself as an agent.

My overall goal is create a real estate "business" where it is essentially holding assets like real estate while continuing my profession as a sales agent, mainly to help investors.

Ben,

I just responded a post like this but I have my piece to say about computer science and becoming an aspiring REI. I am at this exact situation. I chose a compromise between becoming a RE agent and pursuing my college education all online. I can't give solid advice like everyone else but I can give perspective as an Ex-CompSci student.

I was a junior year (3rd year) in computer science before I learned about REI and learned the existence of Financial independence. I dropped my comp sci courses because there is a lot of competition for computer science related jobs. When I was an intern doing some database related tasks with customer management, I realized that a lot of contractors that are working in the comp sci were foreign and extremely talented. So you will be competing against top-university graduates, talented individuals, and even students you will have graduated with. Even in computer science, there were debates amongst professors at my old university whether a computer science degree is feasible versus going to a boot-camp to learn fundamentals. 

If you want to continue pursuing the computer science field while learning about REI, understand that it will require more time outside of class work. You will need to learn what is beyond what is taught in the classroom. This will get in the way of learning about REI and RE in general. 

In my honest opinion, I would rather spend time and energy learning about REI and finding how to apply it.
That is why I chose to back out and pursue a profession in RE and a bachelor in Accounting. Mostly, I am trying and will create financial freedom through REI. I just gotta know the right people. Who knows where I'll be in my life.  

Hope this gives you some perspective, I wish you the best!

edit: 

I forgot to mention that finishing a degree online is cheaper than going a through a traditional school! You are able to finish the degree at your own pace! That is what I am doing! If you wanna know more just message me.

I have attended my first "REI" meet up through a business called Renatus but I kinda flubbed it haha! I didn't know what I could offer of value. We're off to a good start!

Disclosure: I am a student at Western Governor's University but I am not sponsored by the education system. 

Hey DJ, I know it has been 7 months since this post but I am going through the same situation as well. I read rich dad poor dad and it essentially woke my mind. I have the same objectives with RE such as becoming and agent and save enough to invest. I am also working on my RE license and found a compromise with college. I am pursuing a degree in accounting because I believe it teaches one of the core principles of financial literacy and success such as accounting (management of money) as stated by Robert Kiyosaki (author of rich dad poor dad), Sales (management of people) be taught through experience as a RE agent and  management of businesses is taught through the college or RE agent experience. 

If you are committed to being an agent and going to college at the same time, I would suggest enrolling in Western Governor's University (WGU). Its essentially college but it is geared towards individuals who are working 40 hours a week and want to get a college education. WGU is all online and it is very flexible.  Their degree programs are self-pace which means you finish your degree depending how much you commit to it. Transfer credit is very generous. If your desired major is offered at WGU, I suggest you give this a shot. I was able to transfer all my general education courses from my previous university and now I'm going hard on what I want to learn. 

I also endorse Noels Challenger's suggestion on working on a calendar to keep yourself accountable. This is what I have done while working at internships and maintaining my education.

Cheers!

Ly

Hello Bigger Pockets!

My name is Ly, I am 20 years old. I am a student that is looking to build my portfolio. 

The reason I have joined the Bigger Pockets community is that I am currently looking for ways to achieve financial independence and ensure that I can work to improve myself without being afraid of depending on a single source of income and become homeless as a result. I hope to learn and become a valuable asset to the forum.

My current goals in the real estate investing is to obtain my first rental property in a residential area in Sacramento by the spring of 2020, gain the skills of accounting (financial literacy) through a bachelors degree, and gain experience in Sales or closing deals. At the moment, I am currently pursuing a real estate license.

My entry strategy into the real estate investing business is through whole sales. It seems like a good way to meet investors, contractors, and regular people.

Hopefully, I will meet and learn from experienced battle hardened investors. At this moment, I am looking for single-family homes, condominiums, and duplexes/triplexes that fall under the 2+ bedrooms and 1+ bathroom. I'm researching the neighborhoods conditions in South Sacramento Area (since i live in the area), Natomas, Rio Linda, West Sacramento, and North Highlands. I feel like there is always a demand for housing therefore investing in residential area sounds the most plausible way to make potential cash flow. I have not looked into other markets yet. I am still green when i comes to all this.

The current plan at this moment for 2019 is to accumulate as much cash as I can for next year and learn/absorb everything about real estate investing through books, meet ups, podcasts. 

I hope I will pass my real estate agent license exam by April, and start my pursuance in a Bachelors in Accounting on the following month.

My difficulties that are setting me back the most is that I am too often to afraid to take any action in investing in real estate or anything that is deemed uncomfortable, and fear of being judged. Most of the time, I feel like I am on my own when it comes to this subject. My family and extended family rejects this but I know this is possible. They reject to the point where they mock me for trying to find a way out of the rat race. 

My personal goal is prove everyone, who objects the idea of investing, wrong. Not only that, I want to be that rich uncle that pass on assets through generations and pass on my wisdom because no one in my family does that.

Sorry for the long post! I really want to get my thoughts out there and hope someone understands.

Respectfully,

Ly Nguyen