What Job would you get to start in real estate?

12 Replies

what jobs are avialble if one wanted to learn the investment side of the business.  Obviously getting a real estate license is an option but are there any other type of positions that would focus more on invseting rather than the sales side?  I know a lot of people just jump right in with both feet and believe me, I've that about that.  It's just part of me just wants to proceed more cautiously.  The best case scenerio would be to just partner with someone with more considerably more experience than me, but I'm finding those type of relationships are hard to come by.  Being a newb I don't bring a lot to the table at the moment. 

Assuming you're looking at buy and hold, and becoming a landlord, I always suggest starting off working for a property management company. That'll get your hands dirty and you'll learn the ins and outs of how to make sure your business runs well. A dream property poorly managed will never earn what it should.

If you want to learn the investing side then try to find a local PM company that's run by an investor and pick their brains. I think that puts you in the best position for when you start since the investing side can be more abstract.

I will second what @Peter MacKercher says. Property Management will give you a good sense of what land lording is about, and give you a salary as well. I am a Realtor/real estate agent, which I love.  It gives you great sense in the buying and selling aspects of being an investor, but has little to do with the land lording side.  Also if you want to become an agent, you need to be able to go long stretches of time with no income.  I did not become a full time agent until I had enough buy and hold properties under my belt to give me an income.

@Russell Brazil

@Peter MacKercher

Thanks for the replies and that is definitely good advice.  I should have mentioned I seem to gravitate more to the rehab/flip side of investing.  I'm not opposed to learning the buy and hold side of the business since my overall goal would be to rehab properties and use those profits to add rentals as I go.  I also like the idea of earn as you learn.  Thanks again!!

@Jim Brown  You're in the most difficult phase of the investing business.  Once you gain experience and knowledge your opportunities will widen dramatically but unfortunately the beginning is tough.  I think it's good that you're looking for ways to accelerate the process.  Don't give up on the idea of getting your real estate license too quick.  If you have enough time to get involved with a good agency, you'll get connected to people that can help you and you'll be able to participate in conversations that wouldn't be available otherwise.  I've had my license for a little over a year and I'm really glad I got it.  I should have done it years ago.

@Michael Woodward

I'm definitly not opposed to getting my license.  I think the upside is tremendous.   At this point I just want to explore all available options.  Thanks for commenting and your advice is greatly appreciated!

@Jim Brown , you said you're looking more toward the fix and flip side of the industry; how much experience do you have in the construction industry?  That is where I was when I realized that I was working on the wrong side of the project.  I was doing the evaluations, estimates and repairs for a mother/daughter team that were flipping houses.  Don't get me wrong, I was making decent money, but they were, obviously, making a lot more.  That's when I realized I needed to start looking at things from the investment side.  

@James Stevens

I currently work for a commercial contractor that installs low voltage voice, data, video and security systems.  My primary duties are In sales and estimating.  I put bids together up to $1million so I'm pretty good at breaking down projects and putting together fairly comprehensive scope of works. 

This answer for me would all depend on what type of investing you want to get into.

If you are looking to be a landlord try getting a job with a property management company.  

@Michael Noto

I want to focus more on rehabbing.   Buy and hold would be something I would look at a little farther down the road. 

You could be a broker or an agent and learn a lot. But you should really do what job you love that pays enough to get started in real estate investing and make enough to make your first few purchases. You can certainly learn enough just from BP and your local REIA that you don't have to work in real estate to become an investor

@Jim Brown , I started out as an accidental landlord and now own several investment properties. But since I got my broker's license, I have found that I have access to more investors and properties. I'm currently working with several investors helping them find developers/builders for lots that they have developed or just want to make a quick turn-around. 

I would say that if you can afford the startup costs associated with getting your license and joining the local NAR chapter and MLS, then you will find that your education in real estate in general will really take off. I found a brokerage firm that only charges me fees when I close a transaction, so remember that these brokerages are out there when it's time to "hang your shingle."

There are many ways to get into real estate and you need to decide which route will work best for you.

Good luck. 

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