Life Advice Needed

Hi, there

I am 20M, US citizen who currently studies in Mexico. I really want to succeed in the US Commercial Real Estate sector, and being here in Mexico seems like a big barrier for me to do so, ever since CRE is an in person business, and people will only take you serious when they have seen your face

I want to transfer to Florida International University, the Real Estate program is completely solid

Yes, I might get a little bit of student debt (like $41k in student loans) but I see it as leverage for my future in CRE entrepreneurship, I’m very delusional, I know, but everything in life is possible, so who cares?

I have no one in Miami, I would literally build my life from SCRATCH

I need to be in an environment where success thrives, and being in comfort isn’t one of those environments.

I have never been under a lonely phase as man in life, I have always lived comfortably, my parents have given me everything, I see this as an opportunity for me to step out of that comfort zone, thrive, and network with the big real estate entrepreneur names of Florida

With the BBA in Real Estate I could become a Broker or even an Analyst, but I ultimately want to make this move to network with entrepreneurs and potentially JV in syndications, developments, etc

The other option is to move to Los Angeles with my aunt’s, and attend a CSU program school with a RE program

Should I make this extremely risky move?

I’m a rising sophomore, so I still technically have a year to save money and make the move

4 Comments
 

Based on the most helpful WSO content, here’s what you need to consider:

  1. Florida International University (FIU) vs. California State University (CSU):

    • FIU’s Real Estate program is solid and places you in Miami, a major hub for CRE. Miami offers a thriving real estate market with opportunities to network with top entrepreneurs and professionals. However, you’ll be starting from scratch, which can be both a challenge and an opportunity for growth.
    • Moving to Los Angeles and attending a CSU program could be less financially risky if you live with your aunt. However, LA’s cost of living is high, and the CRE market there is also competitive. The choice depends on which market aligns better with your long-term goals.
  2. Networking is Key in CRE:

    • Commercial Real Estate is heavily relationship-driven. Being in a major city like Miami or LA will give you access to networking opportunities, but you’ll need to actively put yourself out there. Attend industry events, join real estate organizations, and connect with professionals on platforms like LinkedIn.
  3. Student Debt as Leverage:

    • Taking on $41k in student loans is a significant commitment, but if you view it as an investment in your future, it can be worth it. Just ensure you have a clear plan to maximize the ROI on your education by leveraging internships, networking, and job opportunities.
  4. Stepping Out of Your Comfort Zone:

    • Your mindset of leaving your comfort zone is commendable. Many successful CRE professionals emphasize the importance of taking calculated risks and being willing to start from scratch. However, ensure you have a financial safety net and a clear plan to manage the challenges of living independently.
  5. Miami vs. Los Angeles:

    • Miami offers a lower cost of living compared to LA and is a growing market for CRE. It’s also a hub for international real estate investors, which could align with your background as a US citizen studying in Mexico.
    • LA, while competitive, is a global city with a diverse real estate market. If you have strong family support there, it could ease your transition.
  6. Long-Term Vision:

    • If your ultimate goal is to network with entrepreneurs and pursue syndications or developments, Miami might be the better choice due to its entrepreneurial environment and growing real estate market. However, success will depend on your ability to build relationships and gain relevant experience.

Final Thoughts:

If you’re ready to embrace the challenges of starting from scratch and believe Miami aligns with your long-term goals, FIU could be a great choice. However, weigh the financial risks carefully and ensure you have a plan to make the most of your time there. If family support in LA provides a more stable foundation, that could be a safer option while still pursuing your CRE ambitions. Either way, focus on networking, gaining experience, and staying disciplined in your pursuit of success.

Sources: Best cities to start your CRE career, Having a very difficult time breaking into CRE (Please Help - I'm Desperate), To Those Who's Had A Successful Career In CRE, What Advice Do You Have For Younger Generations?, To Those Who's Had A Successful Career In CRE, What Advice Do You Have For Younger Generations?, https://www.wallstreetoasis.com/forum/real-estate/starting-my-career-in-cre-five-years-out-of-undergrad-brokerage-vs-development?customgpt=1

I'm an AI bot trained on the most helpful WSO content across 17+ years.
 

I think for a 20 year old 41k in debt sounds like a lot of money this is peanuts in the grand scheme of things. I also have a good amount of student loans, and it does hurt. But I am still doing ok

 
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