Lookong for career advice
Some (parents and girlfriends, especially) may say spending money on a project is a waste of money. But if you're set on getting into that field, it's a better "investment" than most things. Work your part-time job or full-time if you're lucky enough. Continue your education. Be confident in the path you want to take. Don't let the dream killers dissuade you from pursuing your passions. But start something you think is cool, be determined to finish it, challenge yourself but set realistic goals for it, and get some enjoyment out of it. You don't have to spend nearly as much money on it as you think, either. I think Matt at Sloppy Mechanics can vouch for that.

Some guys enjoy the fab work 24x7, until they have to make deadlines
and run a business.. Then it gets less fun in a hurry..
Know several top notch fab guys that did it for a few years then bail out because they couldn't have fun anymore playing with the toys..
Some it works out great, especially if the shop is convenient to home and track so you don't disappear on any significant other(s)...
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As for engine building, I'd suggest looking into S.A.M. school in Texas. I went to UNOH in Lima (where I'm from), and thought that there's stuff that I didn't learn about that I wanted to. If machining and stuff like that is something you want to learn.. Id suggest SAM school.
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I will be attending SAMs in Nov for their EFI Motorsports Tuning course. If I was 10+ years younger and not already semi-retired I would do the 4 year program and UNOH then maybe SAMs.
Get a good full time job, move up as you can. Go to school. Buy house with garage...marriage is optional but know that usually with that comes kids, etc and yeah your dream will get pushed back more times than you'll ever believe lol...ask me how I know. Pick a car, tear it down and build it up, take as many pictures as possible, these will go a long way in building a resume. You may want to pick up a MIG or TIG welder...get some junk metal and start welding pieces together. A lot of welding supply places can tell you where to go to school to learn how to weld much better but its up to you how well. You can just do a quick internet search for schools too.
Honestly...IMO I wouldnt start a business unless its just a side income, others have pointed out why. But it may work for you...referrals, friends...they all go a long way.
When I went through the programs, I was/am at a point where there was no way I could move and live in Texas to go to SAM school.. which is why I didn't go there. I would have preferred to for sure.
When you stop being willing to learn, you've sealed your own fate. I gave up the dealer life to learn the engine testing stuff (AVL North America), and love it. Getting to see and do things in the automotive field is amazing. I put 5 years into the dealer life before doing a career change. I'm currently running a Road Load simulation dyno for GM at their Milford Proving Grounds. I can't get into what I'm working on, but its cool to see and work with the new and future technology. Along with getting to work with equipment that's unbelievably expensive.
If I had to do something different, instead of getting into the auto/diesel repair side, of things... it'd be engineering. There's always a want/need for young and smart engineers.
Look into electrician, plumber, hvac, toolmaker apprentice program.. as these are jobs that will never ever go away, pay well, can be your own business (not antoolmaker as much but still).
My .02







