I’m 22 years old. I have been enrolled in college for 3 years now, but after being my fraternity president for a year I realize that I have learned all I came to college to learn and am taking at least a few years off to re-evaluate why I was there in the first place.
I have 600,000 dollars with a financial advisor and I own a small part of a casino which gives me about 50,000 a year post taxes. My time is endless and I am experienced (thanks to Hurricane Katrina and a Fire which burned down my house) in dealing with insurance companies, crooked contractors, construction companies, and realtors. I recently completed my real estate licensing course and am certain I will pass the upcoming test. My past summer was spent researching the real estate market in my area so I have a better idea of expected rent/building prices.
I do not want to be a real estate agent other than in title. I followed one around for a few days and found that out.
I want to make it very very clear that I am not going to school anytime soon, so please spare me the lecture about the importance of education.
Right now I am living in a university area in New Orleans and have a 100 person fraternity (most of whom need housing each year). There are tons of houses for sale because freshmen at Tulane were temporarilly not allowed to live off campus. Next year sophomores will be allowed to live off campus greatly increasing the demand for student housing. People selling empty rental houses near campus don’t realize this as they are removed from University life.
I have a very high standard of living. I spend just over 50k a year currently.
What I am really curious about is what would you real estate savy people do given my situation…
Lastly my goals…
- significant long term appreciation on my investment
- a “job” where I mostly do what I want and can essentially act as if I was retired