right now in my life I’m a college soccer player, part time online poker player, and student. I am a sophomore in college and am not sure but 75% sure I want to become a physical therapist. Right now I really have my mind set on getting ahead in life (or my conception of it), which got me looking into investments and then eventually real estate. So lately I’ve been reading up on all types of real estate and wanted at first to flip houses, but the more I read the more I am less appealed because I just can’t see myself having the time for that.
Is there any type of real estate or investments for that matter that I can get some knowledge and experience on that doesn’t cost me a load of time?
btw, online poker leaves the money end of things pretty open for me, I just need to find something that doesnt take up all my time
As someone who is just starting out, you will find it hard to schedule your time. You have to learn your market, learn who the other investors are in your area, keep up with the laws in your farm area. If you are not looking to rehab, you can be a landlord, you can wholesale properties or you can be a birddog for other wholesalers.
Think about time in a different way, you may not have a lot of time each day to put towards REI, but you are young, so you can spread that time out. So say you have 3 hours a week to spend on REI, do that. Do that each and every week for a year. That’s 156 hours! Think about what you can accomplish in 156 hours.
My suggestion is pick one of those areas above and then do research, find your niche and then work at it with what time you have. Just keep moving forward is the best advice I can give you.
I would also suggest blocking off some amount of time every week, and being as productive as you can within those blocks of time without working over or under them.
Having started investing while in college, I would also recommend skipping class if you can get away with it. I got a good note-taker in every class to take notes and notify me of assignments, then I just showed up for exams. This may not be possible in some schools and programs, though.
I would also commit to working those hours for at least 6 months without getting discouraged, as the first deal always takes the longest.
You have to focus. Don’t spread yourself too thin. I would say find someone who is enthusiastic about real estate and than attend a monthly local real estate club with him or her. You guys than can learn together. You now have a learning partner. When you are not pursuing real estate you can than “piggy back” off of his learning by communicating with him on a regular basis. It might be a good fit.