I don’t know too many real estate investors (yet!) and I’m very curious to know about BP members’ work backgrounds.
I could listen all day to stories about how the people I want to be like - got to where they are.
What jobs have you had before, and during, your real estate investing career?
Which jobs, in and out of real estate, helped you develop the skills - or simply the income - that have been crucial for your real estate success?
Bonus question! If you could go back and pick a job to do for a year or two before you purchased your first investment property, that would help you on your way to REI with income and/or skills, what job would you choose and why?
Thanks in advance for your responses. And hi from Milwaukee, WI!
Great questions Heather!!
I would say that one of my best jobs ever was sales! I was a framer for a bit, but I don't enjoy construction and have always hired contractors to guide me in that area -- but SALES has made a huge impact on my whole life.
The skills I learned in sales helped me talk with sellers and be more persuasive, raise money, prepare and sell my homes, manage tenants and to listen to others.
That said -- sales can be a tough racket and sometimes can lead to disaster, so if I could go back to my sales experience I would live by 3 rules: 1) Sell something I really believe in 2) Find a company that has my ethics and integrity and 3) Find a company with a GREAT marketing department so that my prospects already have a great relationship with my product before I arrive.
Find those 3 components and take the time to learn sales you can earn some GREAT money while enjoying some flexibility in your schedule (the right sales jobs let you take time off when you need so long as you are making sales). The best part is the job will make you a better investor in all the ways I mentioned above.
To your success!
"1) Sell something I really believe in"
I did computer sales long ago, then moved into technical work for over 15 years. In my opinion about sales is to do exactly what @Ammon Brimhall said. Believe in what you are selling.
If you would not sell/rent/get in contract with your grandmother over a property/computer/car/dish set.... Then do not sell it. You are responsible for getting it into a condition that you believe in and it is a fair deal.
Make fair, honest deals that are backed up with honest provisions and be prepared to follow the letter of the deal. Make your deals that cover you and be prepared to follow through. PROCESS, if you ever worked somewhere where process was the rule learn from that. Follow the steps (rentals) don't get emotionally involved after terms are set (customer service at any retail store). When they purchased/leased etc there was a contract and it was fair now it must follow the steps through till completion on both sides.
Good Luck @Heather Fox !
I have worked in manufacturing operations for the last 10 years and have been laid off 2 times. The first time I have if found a job right away now I am using up my unemployment and working on my real estate biz. I am going to try wholesaling but the focus is aquireing my properties for myself.