What did you guys do for a living when starting out?

Starting Out
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What did you guys do for a living when starting out?

Jason Lee
San Mateo, CA · Member since 2013 · 3 posts · 2 votes

Greetings BP!

I'm new to the real estate community and i'm looking to getting into real estate investing. From what i have concluded, real estate investing takes quite a long period of time before you start to see actual high profit returns. What did all you successful BP investors do for a living before you hit that success stage? I own a few restaurants and I can honestly say that I'm not use to seeing slow and timed cash flow every month.

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Bryan L.
Residential Real Estate Agent · Cookeville, TN · Member since 2013 · 1k+ posts · 948 votes
12y

I was an engineer. Masters degree and all that with over 15 years of experience. Mostly product design/development in big-corporate-world. I walked away from it in '07 to go full-time RE. That lasted for 3 years until the market crash caught up with me. Went back into cubicle-world full-time for two more years, until that company was nice enough to lay me off. For the last year I've been 1/2-time engineer with a small firm and 1/2-time RE.

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  • Bryan L.
    Residential Real Estate Agent · Cookeville, TN · Member since 2013 · 1k+ posts · 948 votes
    12y

    I was an engineer. Masters degree and all that with over 15 years of experience. Mostly product design/development in big-corporate-world. I walked away from it in '07 to go full-time RE. That lasted for 3 years until the market crash caught up with me. Went back into cubicle-world full-time for two more years, until that company was nice enough to lay me off. For the last year I've been 1/2-time engineer with a small firm and 1/2-time RE.

    4Reply
  • Duncan Taylor
    Real Estate Investor · Member since 2013 · 866 posts · 487 votes
    12y

    When I started I was an entry level engineer. Now, I am the CEO and Chairman of the Board of a mid-sized, privately held software company.

    Since my investing is just that, investing, I don't see ever leaving my j.o.b. until I am ready to retire. I don't have the dream of working my real estate as a replacement j.o.b. because that would defeat the purpose.

    0Reply
  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    12y

    Slow income depends on what you choose to do in RE.

    My first deal was an installment contract on my house, wife and a baby, a friend of the family sold it to me.

    I didn't really kick it in gear until later in the Army, buying using my VA living in the home and the then renting them.

    I went into accounting and finance as a major in college and was an insurance agent. They taught me marketing and dealing with clients or the public. I continued through school with the masters and at the same time went to FDIC as a bank examiner. From the banking side I went into mortgage originations and lending and that offered me more opportunities in investing. I moved into commercial and into business partnerships in other business fields, but still keeping in RE lending.

    So, I suppose it all worked together putting a path before me that I had never planned, everything just fell into place to define what I ended up doing and just followed what I enjoyed rather than the job route.

    Good luck, I guess it takes a bit of that too. :)

    1Reply
  • J. MartinPro Member
    Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
    12y

    I work with Bill's former FDIC colleagues in CA as a bank examiner, so have some RE and lending background before starting to invest in real estate. So looks like 2 engineers and 2 bank examiners so far.. hmm...

    Honestly, anyone can do it though. From the most exhaustingly analytical, to the more free-flowing artistic types, I've heard of all kinds of success stories. @Jason Lee , I think 'buy and hold' income would be a great complement to the less even/seasonal restaurant business.

    0Reply
  • Steven J.
    Urbana, IL · Member since 2012 · 1k+ posts · 425 votes
    12y

    @Jason Lee I may not be a successful investor yet but I can tell you I've finally learned this is not a get rich quick scheme. I'm still employed working as a technical director in a theatre (think GC). Although its not my favorite work right now and I would love to do something more related to real estate directly the hands on work with building, construction, and design will and has helped me in understanding rehab much better than, at the very least, the average home buyer.

    0Reply
  • Dennis Nemitz
    Billings, MT · Member since 2013 · 102 posts · 11 votes
    12y

    I am just starting out, got my first buy and hold property. I am a full time ER nurse.

    0Reply
  • Lisa Phillips
    Real Estate Investor · Arlington, VA · Member since 2012 · 300 posts · 277 votes
    12y

    Engineering background, works in IT now. Most of my properties are paid off in 3-5 years (normally take 3-5, but with snowballing, its every 2 years).

    0Reply
  • Nicholas Jasmine
    Real Estate Investor · Alexandria, LA · Member since 2014 · 70 posts · 18 votes
    12y

    im just starting out as well, but my full time job is on a drilling crew working in the oil industry. I plan on keeping my full time job.

    0Reply
  • Garrett Jacks
    Real Estate Investor · Fernandina Beach, FL · Member since 2014 · 31 posts · 10 votes
    12y

    I'm a submarine officer, and just started my RE journey in January. I'm in the process of locking up my first Lease Option Assignment, and I couldn't be more stoked! Thanks, BP!

    1Reply
  • Alex CraigBusiness Member
    Real Estate Professional · Memphis, TN · Member since 2009 · 1k+ posts · 1k+ votes
    12y
    I was a National Accounts Manager. My job required me to travel quite a bit and I would always plan my trips around other cities REIA's. Met some great people while doing this and it actually helped me develop relationships that helped me start my Turnkey business. Sales is a great job to have while starting your RE biz because most sales jobs don't require one to come to an office on a routine basis. By the end of my corporate career I was searching for houses on my laptop during National Sales Meetings.
    901-848-9028
    0Reply
  • Jerry W.Pro Member
    Moderator
    Investor · Thermopolis, WY · Member since 2012 · 4k+ posts · 4k+ votes
    12y

    I started off driving tractors, breaking horses, stacking hay, jockeying, etc, went on to security guard, journeyman painter, oilfield and now law.

    1Reply
  • Josh C.Pro Member
    Property Manager · Indianapolis, IN · Member since 2010 · 1k+ posts · 1k+ votes
    12y
    8 rentals is far from successful, but I am a sales engineer with a fortune 500 firm. Problem with a question like this is you'll probably only get responses from people with decent careers. You can do it with any background, however my sales job lends itself really well to RE because I can visit job sites and banks during the work day and catch up on emails in the evening. So if you can get into anything where you travel locally I would highly recommend it.
    0Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    12y

    @Jason Lee

    Great post Jason :)

    Funny to think back lollol

    I worked as a laborer on commercial and residential constructions sites in Australia.

    Very good pay but also very physical work. Saved my first $50,000 after living a frugal life for 2 years and bought my first property lollol

    Now I have a company called Sweeping Floors to Owning Doors lollol

    Thanks and have a great day.

    Podcast Guest on Show #89
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    0Reply
  • Colin Reid
    Investor · St Petersburg, FL · Member since 2014 · 231 posts · 221 votes
    12y

    I am an Air Force pilot, and honestly I may not have even considered REI if I wasn't in the military, and moving so often. My mother is a realtor for KW and she and my dad are both CPA's who met in accounting school, but not real estate investors. I've been around the real estate business for 15-20 years, since my mom got her license.

    Another guy in my unit (haven't found him on BP) is into REI and told everyone about it. I was skeptical at first, but then I got orders and, frankly, didn't feel like getting it ready to sell. He told me he could rent it for about 25% more than my payment, and he'd take 10% off the top. Done!

    After changing my insurance policy to a rental vs owner-occupied, I'm cash flowing about $50/month, renting to a couple from my then unit. Great tenants, decent management. I got lucky turning a home into a rental.

    I bought a great house (maybe not a great investment, but a wonderful home for me) at my new base. My plan at the time was buy a home at every duty station and eventually have maybe 3-4 properties with equity I didn't pay for.

    During my recent deployment the news came out that the Air Force is cutting personnel in a big way. I'm not vulnerable this time, but in the early days we didn't know that. I started looking at other ways to secure my future without depending on the military. Chatting with some of my peers, I decided to learn more about REI. I called my mom and she quickly sent me HOLD and The Millionaire Real Estate Investor. That was about 2 months ago.

    Now I'm shopping for a first true investment. Unless I find a better property in the next few days, I'm planning on making a low-ball offer on a SFH in my neighborhood (invest in what you know, right?) for about 20% below asking price, with 25% down on a conventional loan and cash-flowing about 45%.

    0Reply
  • Kathleen Leary
    Princeton, KS · Member since 2014 · 357 posts · 169 votes
    12y

    Spent 35-plus years as a graphic designer/advertising/marketing flunky - got laid off after 23 years at one place. Now I'm bouncing around doing housecleaning, elder care & freelance writing while I'm rehabbing my first rental. Also worked as a florist, restaurant cook & phone solicitor (ugh!).

    1Reply
  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    12y
    Originally posted by @Kathleen Leary:
    Spent 35-plus years as a graphic designer/advertising/marketing flunky - got laid off after 23 years at one place. Now I'm bouncing around doing housecleaning, elder care & freelance writing while I'm rehabbing my first rental. Also worked as a florist, restaurant cook & phone solicitor (ugh!).

    WOW Kathleen,

    Life is quite a journey ;)

    Podcast Guest on Show #89
    Oz Realty4.5367 Reviews
    WebsiteView Page
    0Reply
  • Jason C.
    Investor · Austin, TX · Member since 2014 · 217 posts · 170 votes
    12y

    I'm a mid-level manager for a major telecommunications company, working out of my home office, and travel frequently. I highly recommend a work at home job, makes it easy to troll bigger pockets between/during conference calls. I invest in my home area of central Texas, instead of in the areas the company sends me.

    0Reply
  • Jon Klaus
    Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
    12y

    Originally did lawn care when I bought my first property. Later owned and managed a small IT services company. I still own it.

    I also have a start up restaurant. Much faster cash flow than real estate. I try to discipline myself to watch the numbers daily instead of hourly.

    0Reply
  • Kevin C.
    Investor · McKinney, TX · Member since 2009 · 405 posts · 160 votes
    12y

    IT Director here. Been at this job for almost 20 years.

    Purchased first rental back in 2007, moving along slowly, have 3 rentals now.

    0Reply
  • Rich Weese
    Real Estate Investor · the villages, FL · Member since 2008 · 5k+ posts · 3k+ votes
    12y

    Some really interesting backgrounds on BP.

    My background is EXTREMELY well documented on here. I started as a Janitor with Alpha Beta Markets in La Habra, CA cleaning their kitchens from 3:30 to midnite. That led to my buying a Janitorial Franchise in SO. CA with Environment Control. Then to RE. Rich

    3Reply
  • Don KonipolBusiness Member
    Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
    12y

    Started as a commodities trader for a subsidiary of Union Bank of Switzerland. Became a commercial real estate broker and investor. After the Houston market crashed in 1983-4, purchased an auto repair and aftermarket shop, eventually owning 7 transmission repair, general auto repair, and auto upholstery and trim shops. However, always invested in commercial property and private lending on the side.

    In 2000, at the age of 48, I sold my auto shops and went full time into real estate investing and lending.

    While a lot of personal capital is needed to generate enough cash flow to live a upper income life style, additional and significant income can be generated by fee income associated with real estate investments. This all relates to bringing passive investors into the deal and generating "over rides" for yourself. Essentially, I am the general partner and earn income from the limited partners investment.

    Private Mortgage Financing Partners, LLC
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    4Reply
  • Troy Fisher
    Specialist · Kirkland, WA · Member since 2013 · 1k+ posts · 817 votes
    12y

    There are way to many Bankers, Engineers and Military up in here!

    I've managed Quick Service Restaurants for the last 14 years. Moved to Vegas during the bust and began buying. I took 6 months off when I moved to California, and am now managing a Quick Service Restaurant Franchise group.

    Food Industry is great, when you find owners paying bottom line bonuses. It takes all types. But unfortunately the bankers, engineers and military are the ones giving us all a run for the money. Jerks. ;)

    0Reply
  • Aaron Montague
    Rental Property Investor · Brookline, MA · Member since 2013 · 1k+ posts · 777 votes
    12y

    IT Project Management now.

    Started in Real Estate after renting a $1200/week cabin on vacation with a bunch of my friends in college. I did the math on a napkin and bought two places to help me get through grad school.

    0Reply
  • Brie SchmidtBusiness Member
    Moderator
    Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
    12y

    I work in advertising sales - It has been an interesting 9 years but the constant travel and 50+ hour work weeks is really getting to me - hoping to go into REI full time this year.

    Podcast Guest on Show #132
    Second City Real Estate4.821 Reviews
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  • Tyrus Shivers
    Investor · Jessup, MD · Member since 2013 · 437 posts · 180 votes
    12y

    I worked as a Signals Analyst in the Air Force until I was medically retired. Now I am a Cyber Admin (new fancy name for a system admin). I have a BS in Legal Studies, dual MS in Cybersecurity/MBA, I mostly do system monitoring for a large defense contractor. I also have a small cybersecurity firm of my own, and I am working on a Mdiv for Pastoral Counseling. Apart from that I dove into investing focusing on rehabbing and I am doing the prelicensing course for Maryland. I plan to go full time RE when earnings double my salary.

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