All Forum Posts by: Shawn Krieger

Hello I am 20 years old in my 2nd semester of college. I live alone, am single, have no children. I have no dependents, no car notes, nothing except rent, gasoline, food. The bare minimum. I have a part time job that just barely is getting me by. I am being as frugal as possible to get through school.

An associates works out to be 2 years if you take 5 classes per semester for 4 semesters. I have to take at least 4 classes to qualify for financial aid and I am taking 4 classes now. It is starting to be a struggle to work and support myself and pass my classes. I have 9 credits now, and hopefully will get my 12 this semester. That being said it may take me 2+ more years to just get an associates if I continue to skimp by as it is. Who knows how long the bachelors may end up taking.

Doing all of my assignments and studying is incredibly time consuming, and I have to keep my part time job to survive. Often times my work gets in the way of my studies. I have little to no free time in my current situation.

MY POINT IS:

If I drop out I already have a job lined up making almost $8 above minimum wage. If I start working full-time I will literally at least triple my income if not more. I will always have money to pay my bills and then some to invest with. I will have more free time to learn about the RE business and start building. I attended a local REIA meeting and met a lot of people that could be an amazing help to me in my Real Estate journey. Getting the time to work with them could be life changing.

Don't mistake what I am saying though. I know a degree is a very valuable thing to have. My only concern is that the time it takes for me to acquire it may be better spent doing other things like RE investing. 

My goal is not to be rich. My goal is financial freedom. 

Thoughts? Don't sugarcoat anything!

Thank you for reading

Do not fully leave college till you seee a clear path to financial freedom 

@Shawn Krieger you can't practice and collect commission in NY as a salesperson without having a sponsoring broker.  That being said, you're can probably still be held liable for things being that you have completed the course and education.

@Payton Pearson

Exciting news, congrats.

I’m starting off this year with my first property. Very good career in finance mixing this up with a real estate license should have in roughly two months.

Mix the two and you have a dream.

Any and all Florida real estate investors, partners and contacts please feel free to connect and let’s build our partnership.

Keep the energy Payton-

@Allan Szlafrok Hey Allan! I didn't know that as an owner occupant you were subject to rent control laws. Thanks for the info! 

@Dwayne Lee

@Dwayne Lee I don't know the Jersey City area very well, but from what I have read here on Bigger Pockets is that Greenville is a less desirable area. Is that true?

@Shawn Krieger I haven't really looked outside of the NJ market but I will expand my research to include Brooklyn. Thanks!

@Moises Mari Thank you for this information - its very helpful! I hadn't thought about CapEx being spread out over multiple properties for single families vs a multi unit. This all makes a lot of sense. Do you suggest a 25% down payment at minimum?