Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 2 months ago

Does it look bad for a degree to take 8 years?

I'm 25 right now with 2 years completed of my Civil Engineering degree. I have about 45k saved bc I was a trucker for 2 years before I went to college and I still use trucking during my breaks from school.

I like engineering but I question if I have the passion to do it for a full career? I intend to finish the degree, but moreso because I value the education and the opportunity that comes with it. My main goals are to eventually invest in real estate (rental properties), then eventually in my late 30's go to law school. The idea is for the real estate income to support myself through law school. My dream job would be to be a sports agent for MLB players. Many have law backgrounds.

I've been writing all this down:

Right now I'm on track to graduate around 28-29 with roughly 10-20k saved. So I could potentially start making a salary and buy a property by 30, then one property a year during my 30's. My networth could be about 50k at age 30, 150k at age 32, 500k by 37 or so.

I've considered readjusting my plan: Every year do only the spring semester, then trucking May-November/December.

With this plan I would not graduate til 31 or so. But I would be able to buy my first property this year. By 30 I could be worth around 250k, 3-4 years into building my real estate portfolio. By 31-32 I would have the education, but way more wealth/opportunity than on my current track. In a position to make a fastbreak.

Update:

In doing this I would be trying to balance all of my goals, and balance my mental/financial/physical health. Because admittedly, school is not what I'm good at. It's very hard on me. 5 years from now I want to be in the best position i can be financially while also being happy.

5 Answers

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  • ?
    Lv 7
    2 months ago

    Any employer who does not understand the need to work for a living is not worth working for. Everyone is not born with their toe on the same starting line. The fact that you are making your own way and not getting ahead on Daddy's Dime is a plus to some people.

  • 2 months ago

    There is no chance you can attend school, graduate at 28-29 and buy a property at 30 unless for cash. You wont have any income to show for the prior two years, so you wont get a loan.

  • 2 months ago

    Not really. Once done it is all the same.

  • 2 months ago

    No employer cares how long it took to get your degree.

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  • Anonymous
    2 months ago

    How do you plan to buy one property per year when you're 30? How much money do you think you can borrow to buy these ten properties?

    • Casey Y
      Lv 7
      2 months agoReport

      Yes...more properties, more rapid growth to net worth...but you need to buy those properties first.

      Caleb, were you the original poster here?? I don't get it.

      The slowly growing equity in these other properties wont be enough as collateral for additional investment loans, if that's your plan.

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