All Forum Posts by: Sean DeRue

@Season Price

I want to preface my post with: I am in the earnest learning phase of my career...

I've got about $1500 in my checking, and I've got to live too... So I basically have $500 to use as well 😅 But right now my plan is to spend some time as a real estate agent. The monetary cost of doing so isn't actually that much, but it is taking many hours to get my license, and develop and learn from a mentor.

I'm in central Indiana and found a good brokerage who can get me working with education and resources within a month after getting my license.

After this since I will be in college for business (which I wish I didn't have to, but I have a full-ride I don't want to pass up on), so since I will be pretty busy I'll be looking to list houses more since technology let's me do much of that process easier than driving people to houses etc. From there I will build up my commissions until I have enough to house hack.

My little brother also wants to attend Purdue, so if I find a deal good enough, I know I can get financing help from my parents to purchase a multiplex while I live there house hacking, then he can live in it in 4 years.

There are a lot of places around Lafayette IN that would likely do well to BRRRR, so I can get some more cash to continue from there.

That's my current plan, and given that mine is concrete rather than hypothetical, if anyone is interested in seeing how this plays out I'd welcome you to stay posted on my journey! I'd love any advice you can give me on my plan, and if you're in the area, I'd love to work for your place a bit for free while I transfer my knowledge from conceptual to mechanical! I was raised to work hard, and every job I've ever worked I've met amazing people who have had amazing reviews for me.

Good luck to anyone in my same position! I know the eyebags we're earning will be worth it 😂!

~Sean DeRue

@Don Alder-LaRue Thank you very much for the recommendation! That sounds like a great plan, and I am eager to look into it! 

Thank you for correcting me on my mistake! It's a bit embarrassing, but with so much saturation of new info, the correct vernacular of mine suffers.

Thank you again!

Hello everybody!

I am a sophomore at Purdue University, and I am looking to switch my major from Education to something business related for the sake of my real estate investing career since I fell in love with this over the summer. I have a full ride, so I don't want to forego such an awesome blessing despite the lack of necessity for college education in this field. 

The catalog and information for the majors is here: 
https://krannert.purdue.edu/undergraduate/current-students/majors.php#toggleContent

I am not sure which of Accounting, Economics, Finance, General Management, Management, I should pursue as a major that is pertinent to what I am trying to do, while at the same time not being too strenuous that I cannot start owning properties in college (the former criterion being more important than the latter).

I should also note that I am in the process of getting my Realtors license and likely working with the office of Carpenter realty while in college. 

Thank you to anybody who takes the time to respond and help out a rookie like me! I would love to discuss with you!

@Derek Diamond, @Alina Trigub, @John Teachout, @Joshua A Kloos

Thank you all so much for your time and input! 

@Derek Diamond I'm glad to see that your portfolio shows success in multiple property types! It makes it less daunting to know the first one isn't as much of a contingency. I think I am leaning most towards multiplexes to start as well so I can house hack it.

@Alina Trigub I am just about done with the first B/P guide, and it is already painting a much clearer picture. I'm excited to keep figuring everything out as soon as possible in hopes of owning a property by the end of the year. 

@John Teachout I'll admit that aiming for a multifamily rental to start feels a bit lofty, but if I do it well enough, I think it would be ideal for me. Hopefully it would be around campus, and currently Purdue has a massive shortage in student housing, so I don't think the vacancy would be a huge issue...now that I think about it though, it is probably more difficult to screen students as tenants since they have less of a life trail behind them...but I digress. What would you suspect the biggest discrepancies in acquiring/owning multifamily rental for the first time is vs a sfh. Either way, thank you for your input!!

@Joshua A Kloos Congrats on your sale!! Sounds like you earned the ROI with everything it put you through...I appreciate that you are looking at it from the a focus on the contracting/property management side of things. But I most appreciate how practical your action steps are!

The way I figure it, I don't think that I would want to spend effort pursuing mastery in contracting and realty; I think I'd spread to thin and inhibit the pace of getting the snowball rolling. Which is a shame because of how interesting I find contract work too... But I think if I can make some listing commissions during the fall semester, and save the cash for the investment, that I would be in good shape. What do you think about that?

I'll definitely include your advice on how to pinpoint a good property when I am looking for them. 

Again, thank you all so much for contributing to my career!

Hi all!

I am student at Purdue University beyond eager for Real Estate investing, trying to enable my girlfriend and I to live a financially free life as soon as possible since we are all about family. 

I know that asking "what investment method should I pursue" is a haughty question, but while I am researching, I would like to know how to focus my limited (due to work) time to a specific niche/strategy should I explore that fits my needs. So the question becomes: What factors should I consider when determining my investing niche/strategy? 

For anybody curious as to what I would expect to be the biggest factors of mine are: 

• I am developing an organic mentorship with my realtor neighbor who has educated me on the basics of realty, what his job looks like, and how I can get started. This week I am meeting with him so he can prepare me for a meeting with the manager of his brokerage next week.
• I am enrolled in a 90-Hour pre-licensing brokerage course 
• I am financially blessed to have a full-ride at Purdue and spent my first year exploring careers (from PT to Primary Education), and am deliberating switching majors (again...) to secondary education with a focus on business teaching, or switch to a business program
• I have ~$1500 to my name, but have parental support on rent
• (I'm sure there are other pertinent factors, but really if you have taken the time to consider what I've laid out, you're already too generous with your time, and I reckon those should give you a gist of my endeavors)

Thank you so much for any edification you can give to me, I am in full-blown sponge brain mode right now, and the drive is there, so I know "thank you" is read the same by anyone who writes it, but mine encapsulates a lot of gratitude. Thank you.