Nov 25, 2020
Why You Don’t Need a College Degree to Do Real Estate Investing
According to U.S. News & World Report, the average student loan debt upon graduation is $30,000. The total student loan debt in the U.S. is $1.6 trillion. While it is true that more students today are paying off their debt than ever before, only one-fourth of all students will pay off their debt in a lifetime. They will end up living with their student debt for decades as it accrues interest and balloons to an amount so high that it is virtually unpayable.
Meanwhile, the average starting salary for college grads is $51,000. Considering the cost of living today and the amount of debt that someone takes on almost immediately after college graduation (car, home, furnishings), it makes you wonder if the four years you spent in college was worth it. Some of the leading executives, CEOs, and entrepreneurs worldwide would say probably not.
The Millionaire Mindset Doesn’t Include a Diploma
Mark Zuckerberg, Steve Jobs, Bill Gates, and Michael Dell all dropped out of college. So did Julian Assange and Richard Branson. John D. Rockefeller, Henry Ford, Liliane Bettencourt, and John Paul DeJoria never stepped foot on campus. Love them or hate them, you can’t deny their innate ability to innovate, adapt, and create wealth in the process.
For many millionaires (and some billionaires), a college education isn’t in the cards. In fact, it can be a hindrance to someone who has a vision on a much larger scale. If the millionaire mindset doesn’t include college, then what does it involve? How do people create empires without paying their dues in the classroom?
- Cast a clear vision (that often has nothing to do with money)
- Love what they do
- Find solutions to all types of problems
- Hone their leadership skills
- Pursue personal and professional growth
- Act like a millionaire even when they are not
By contrast, college students:
- Are always broke
- Plug into a system they can’t seem to escape
- Go into debt at a very young age
- Have a narrow worldview and self-image due to their education
- Do not work in a field related to their major
- Plan to work for a millionaire
Today, most educational and economic experts will tell you that despite the massive college debt and the five+ years it takes to complete school, getting a degree is still worth it. However, the reason for their assertion is that they too went to college and became part of the system that kept them from realizing their true potential and living out their dreams.
Why You Don’t Need a Degree in Real Estate Investing
The title of a 2015 Entrepreneur article said it best.
“Want a Career in Real Estate? Don’t Go to College.”
Why? Because you can use the money that you would have spent on college expenses and student loans to make your first real estate investment. College also limits your mindset, gives you a false sense of confidence, and ultimately wastes your time. There are several reasons why you don’t need a degree in real estate investing.
Reason #1: Learning About Real Estate Shouldn’t Cost Thousands of Dollars
In previous blogs and videos, we’ve talked about how to avoid real estate training scams and paying too much to spend time with so-called real estate gurus. One of the biggest time and money wasters (and potential scams) is a college degree in real estate investing or related business courses.
Many of the concepts taught in the classroom can be found in resources that are a tiny fraction of the cost of a college degree and, in some cases, can be accessed for free. Why spend thousands of dollars on dorm rooms, meal plans, books, facilities, professors, and classrooms, when you can bank that money and get the same information for far less?
Reason #2: You Can Land Your First Real Estate Deal Before You Are 25
In the five years it takes you to get a college degree, you could already flip half a dozen houses and make six figures annually. While everyone else is spending thousands of dollars to make it through each semester, you are making thousands of dollars – all before the age of 25. You simply need the right tools and roadmap for success.
Reason #3: All You Need Is the Right Resources
When it comes to real estate investing, there is no shortage of resources and educational material. The question you must ask is where you find the right resources and how much money you need to spend on real estate investment training. The answer is less money than you think. While going the college route is unnecessary, you also need to avoid the real estate investment guru or seminar scams.
A self-proclaimed guru may offer a free or cheap real estate seminar, ask you to secure a large amount of credit, spend thousands of dollars on advanced courses, and spend more money on more courses, mentoring, and field trips. You end up spending more money than you would going to college. With a tiny investment, you can get the real estate investment training you need to land your first deal without.
Reasons #4: A Degree Is Not the Same as Hard Work and Determination
Let’s be honest: nearly anyone can get some type of college degree. Over Four million people graduate from college each year. However, getting a degree and building a business that converts into wealth have little in common.
Real estate investing is not a get-rich-quick venture. It takes focus, work ethic, and perseverance. It is a craft that you commit yourself to more than you would a job straight out of college. If you are going to be successful in the world of real estate, you must approach it with a millionaire mindset and an entrepreneurial spirit. These are things they don’t teach you in college.
You Can Be Successful in Real Estate Investing
You can make your first $100,000 part-time in real estate through our real estate training system regardless of your current circumstances. You simply need the ability to follow our proven system and use the resources and tools available. How can you get started?
- Subscribe to our YouTube channel.
- Follow us on all social media platforms.
- Take advantage of our free content.
- Visit us at http://www.www.nhanlamacademy.com/.
- Stay current with our blogs, podcasts, and articles.
Subscribe to our YouTube channel and follow us on all our social media platforms. We will be posting free content online regularly. You can learn valuable ideas on executing your business plan to achieve real estate investing results.
We’ll be posting free blog videos, free articles, and free podcasts that will get you on the right track to success in a consistent, sustainable real estate business.