First Steps

Greetings REIClub! I am almost certain that real estate investing is my calling in life. I’ve been very impressed with the experienced, knowledgeable, and helpful people on this forum and would appreciate the opportunity to get some input on my current situation. I’ll post a little background information about me, because it may help in your response.

I’m young (20), ambitious, and eager to learn everything I can about both real estate and investing, and the marriage of the two. I’m a junior at Clemson University where I’m majoring in financial management. My emphasis is in real estate. I plan on obtaining an MBA and potentially another master’s degree upon the completion of my four-year degree. I expanded my landscaping business that I started last year to include property preservation. I’ve learned a lot about real estate from this unique opportunity, due to the fact that we focus on the initial services on Fannie Mae foreclosures. I’ve developed relationships that I believe will be valuable in the near future for my real estate career.

What are the first steps I can take, given my current situation? Here are some I’ve thought of:

-Developing a credit score
What’s the best way for me to do this? I have no debt and have a decent amount of cash in the bank from my business. I have separate accounts for personal and business. My insurance payments, unfortunately, do not affect my credit score.

-Personal development
Dale Carnegie comes highly recommended from this board. Who else?

Are experienced investors receptive to having something along the lines of an intern?

-College and education
Are there any courses I should be looking at taking while I’m still in college?

Any and all advice is greatly appreciated. Thank you!

Glad to have you join us! What do you need our help for, you sound like you are doing great!! My advice to you is to read everything that interests you on this forum-I’m new as well but there are people here with so much experience, everything they say is educational. I like all Rich Dad Poor Dad products, start with the book with that title. Read everything you can and learn everything you can in the incredibly broad area of real estate investing-and if something stands out to you that you think you would really like, consider making it your niche.

Per your questions-
The only reason you need a credit score is to use it as a tool to acquire debt that you can leverage. A credit card is a pretty basic way but it is a dangerous tool if not used well. You could pay on an installment loan, a mortgage, a car, etc. The key is making your payments on time, maintaining a solid debt to income ratio, and not using more than a third of your credit. Remember, if you are using debt, it means someone is making $ (in interest) off of your money. I would rather make 10% off my money than pay 10% on it. I’m against debt unless you are acquiring an income producing asset and simply need the leverage. Just research it, but I don’t think establishing credit is necessary, be responsible with your money and the good credit score will come to you. Go to, really like that site for money management, I’ve been using it religiously for years and years. Way to go being debt free! Debt=Stress

You can look for a local REI club to join, join the chamber of commerce, or to network just be involved in things you like to do. I got my real estate license for closer access and complete submersion in the market. I love it. The deals just come to me, before they hit the market.

Learn how to navigate your local assessors website so you can find out who owns what. I create homework for myself, such as breaking down the numbers on one investment property a day so I learn the formulas and how to recognize a good one. It took me two hours the first time and now I can run it in about 15 minutes. (Personally I love working out the numbers, they are what tell the story!) It shoudn’t be difficult given your ambition and what you are majoring in. Good luck Paradox, you are getting started with a bang, keep us all posted!

Ah, an ACC Rival! I just graduated from UMD. Anyways, just honestly read everything here. I’m 23 and am looking at some first deals myself