More Q & A with Gary North. Careers in law and real estate….what to do with a law degree…

INVESTING

Age, 20; occupation: college student; residence: small town, East Georgia.

$10,000 to invest. Goal: law school. I am thinking about real estate law. I have zero
knowledge of finance.

I do not normally recommend that anyone go to law school. There are already too many lawyers. But real estate law is a good choice. Why? Because lawyers who know real estate law make a lot of money by buying up distressed property.

It would be better to take the time that law school would require, and work as a paralegal to a lawyer known to specialize in foreclosed real estate. Learn the business while getting paid. Then move out of the area and put that knowledge to work.

I would begin by spending some time at the county courthouse. Ask about lawyers who do a lot of research there. Some secretary will know. Say that you really need a job, and you want to work as a paralegal. You're just trying to get a job.

Keep saving money. Put it in a bank account. Your goal is to get that first down payment.

Read John Schaub's books. Read everything you can on fixing up houses.

The big money will not be in practicing law. The big money will be in real estate. You don't need credentials in real estate. You just need to know how to buy, fix up, rent out, and trade. So, get paid to learn the occupation.