All Forum Posts by: Michael Guzik

@Rachel Luoto Thank you for the advice! I have been in contact with a mortgage broker who seems very honest and is actually willing to work with me. At my age everyone ignores me or treats me like crap so those that actually listen and help are valuable to me. He said that adding a car would help me get my third line of credit and help boost my probability of having an amazing credit and qualifying for the FHA loan. He compared what I would be applying for to food stamps for those who can't really afford groceries. San Antonio is not a very expensive market but it isn't a cheap market either. Sadly I work 25-35 minutes for work so I can't bike. My brother does have a truck so I am covered on that end of the rehab part.

Hey guys I'm 19 years old and am wondering what I should do with my life. I graduated 4th in my class out of 678 students, not because I was the smartest but because I worked 10x harder than the rest of the class. I didn't party and was always in tutoring to be honest I am probably the "dumbest" kid out of those top 10 but persistence is one of my strong suits. Since I was in the top 1% a lot of people including my parents wanted me to go to school to become a doctor or "something successful". However I didn't want to and I didn't want to waste my parents money and drag them down further in debt doing something that I didn't like and that wouldn't help me get where I want. I went to a junior college and got my associates in business for free through their presidential scholarship. Right now I am working at a real estate management company that I was lucky to get into because my Aunt works there but I found out about this job right before this past semester so I had to cancel my classes and not go to school this semester. My parents aren't very supportive of my real estate dreams and my thirst for financial freedom. I love them but they have a middle class mindset of go to school, get a job and retire at 65 after working that job for 40 years. I'm making 25k which I know isn't a lot and won't help me for long. My problem is that I obviously need capital to get into real estate. Even with house hacking I will need income to purchase future properties and other things. I would love to work for a business or do something real estate involved or entrepreneurial in nature to make good money but I haven't quite seen a way to do this so far for me. My parents are pushing me to go to college so I am here trying to think if I do go to college what degree should I pursue? I don't plan on working that job my whole life(but who knows) and would really just be using it to make good money until real estate can replace it. I don't want to waste what little money my parents have saved up for me and get them further in debt and get myself in bad debt with student loans unless the outcome is a great degree and job. What do you guys think about college vs real estate and/or entrepreneurship? What do you suggest or what would you do? Last but not least thank you for even taking the time to read this and thank you for any and all comments and opinions I really do appreciate them.

@Account Closed thank you for the advice and for commenting! That seems like the way to go after listening to everyone's input!

@Caleb Heimsoth Thank you so much for your input and advice I really do appreciate it!

@Caleb Heimsoth Thank you for commenting. I am thinking about that option because I have 4 grand saved up in savings but I was planning on using that for my down payment for an FHA loan... What would you do?

@Alexander Felice The truth hurts thanks for the input! I'm definitely strongly considering an older car after reading all these comments.

@Shawn Q. Thank you for the advice! That is also another issue I am debating is whether to go to school and get into debt for a degree so I can make more in the future or not. I would much rather make a decent income(over 50k) in real estate but I am just trying to find out what path or career I can take to get there. You are right though my income is crippling me!

@Daniel Ortiz Thank you for the advice! I am trying to think long term which can be hard for me but I'm working on being patient and thinking logically with every decision I make!

@Andrew M. Yeah I would agree with the nickle and diming the thing is my car is a Suzuki and they don't make them anymore so the replacement parts will have to be built and then shipped from Japan which could take 4-20 weeks. I definitely want to save money but at the same time am wondering if its even worth wasting my time with that car. I would love to connect with you sine you have actually done some stuff. I honestly didn't know there were this many BP members here in San Antonio.

I've never heard of debatize @Sterling Williams I will definitely look into it and give it a try! Thank you for the resource!