Getting a full time job in the real estate industry.

Getting a full time job in the real estate industry.

Investor · Kansas City, MO · Member since 2015 · 13 posts · 1 vote

Hello Everyone!

My wife and I are Investors here in the Kansas City area. We currently have a duplex, and our primary residence. We have had that duplex for over 3 years now, and I would like to change my primary focus to real estate. 

I am a automotive technician by trade. I started 5 years ago when I decided that I wanted to work on cars. Without a degree, I went and got a job at a local tire shop. Worked there for 6 months, and then moved up to working at a chain store here in the midwest called "Tires Plus". Over the years, I have changed jobs a few times to take advantage of more learning and higher pay. I have gone from $8 an hour at the used tire shop, to over $28 per hour as a qualified and certified Automotive Technician. This was due to being a fast leaner, a hard worker, and always negotiating for higher pay. All of this has been without going to school to get a degree in automotive. I just figured that I could learn more by actually doing it, and immersing myself in the industry. 

Unfortunately, I have reached the top as far as technician pay goes. Not many technicians make much more than I do. I could try to get a couple more dollars per hour being a technician, or I could change my style of job and maybe become a service advisor, but honestly I have become very burnt out of the automotive repair industry. 

I would like to take the same enthusiasm, hard work, and quick learning that I put towards automotive, and do the same with real estate. I have found that when you immerse yourself in an industry, it is the fastest way to learn and succeed in that industry. 

I have been doing research into jobs that are real estate related, and I am having a hard time with finding something that meets the financial needs of my family. We are a single income house hold (my wife is a stay at home mom) and I make sound 48K per year. We have tried to adjust our budget to try and cut down on spending, but even then I would still have to make at least 42K per year to cover our family expenses every month. 

I have looked into different jobs such as Lease Agent, Real Estate Agent, or a maintenance guy/handy man. The issues with these is that  (from the research Ive done) the starting pay for a lease agent is too low, real estate agent takes a while before you start making a decent income, and being handyman/maintenance guy isn't much different than what I do now.

So, Im turning to the Bigger Pockets Community for suggestions! I need a job that is in the real estate field, that makes at minimum 42K per year. I can literally do anything I set my mind to, I just need a direction! Any ideas?

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Real Estate Consultant · Camarillo, CA · Member since 2010 · 2k+ posts · 1k+ votes
9y

Keep you day job and put the effort in in the early mornings and late evenings and weekends until you can replace your job.  As a family man it is tough to just jump out of a stable income.

I worked my day job for many years while building my company.

my 2 cents.

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  • Real Estate Consultant · Camarillo, CA · Member since 2010 · 2k+ posts · 1k+ votes
    9y

    Keep you day job and put the effort in in the early mornings and late evenings and weekends until you can replace your job.  As a family man it is tough to just jump out of a stable income.

    I worked my day job for many years while building my company.

    my 2 cents.

  • Investor · Wichita, KS · Member since 2017 · 293 posts · 192 votes
    9y
    Sean Thompson I agree. There is a lot of money that goes into getting a real estate license and joining the national realtors association. On top of that if you are primarily interested in the investment side and not sales it's unlikely you would like the job. I assume your primary desire to work in the industry is to get a better understanding of the market. Go to the local investment association meetings and network, tell people what you are doing and what you want to be doing. You can find some very knowledgeable people and learn by just talking to them. Chances are you may even find an agent/investor who could help you figure out your criteria and help you find deals that meet them. Good luck!
  • Investor · Kansas City, MO · Member since 2015 · 13 posts · 1 vote
    9y
    @Jared Viernes, I will definitely start looking for a local real estate association that I can go to and start making some connections. Jeff Greenberg , I appreciate the advice. I was not planning on quitting working and become a full time investor. I was just hoping that I could trade my current job for a similar paying job in a different industry.
  • kansas City, MO · Member since 2014 · 31 posts · 10 votes
    9y

    I would agree with the others so far. Work extra hard to make investing a full time job. I am in the same boat as you.  

    If you really want to get into the industry I know loan officers can make some pretty good money with a decent base if that would interest you at all. 

  • Wholesaler · Lansing, KS · Member since 2015 · 92 posts · 13 votes
    9y

    Agree with what others have said.  I would also look into joining a real estate team, rather than a single agent.  You can make more faster.

  • James MaraditsPro Member
    Real Estate Broker · Cleveland, OH · Member since 2015 · 239 posts · 224 votes
    9y

    You're making a very respectable wage now.  Use that to your advantage before taking the leap.  It's unlikely that you will make the same base pay at a new entry level job in the real estate industry.  It is tough to find financing when unemployed or self-employed, so I would focus on getting a credit line to utilize or financing additional properties while you still have full time employment.  If you are interested in working as an agent you could start that process as well while you're still employed at your current job.

  • Rental Property Investor · Cincinnati, OH · Member since 2013 · 292 posts · 280 votes
    9y

    @Sean Thompson , your a smart guy.  I can pick up what your putting down. 

    So I'm going to give you advice that everyone else will disagree with. 

    Get out of the service bay and get behind a counter. Write service. Talk to every single customer. Keep your antenna up for people who mention that they work in some area of real estate sales, real estate finance, the trades, etc. , anything real estate. And always be networking. And then network some more. 

    Find a D class 4 plex "deal" that needs work in KC. Rehab it yourself, subbing out the stuff that you can't do yourself and the stuff that is time intensive. (dry wall finishing comes to mind). Make it the best looking apartment in the area and run it on Craigslist at market rate. Place a good renter in that apartment. Do this for all 4 apartments. After a year or so you will be an experienced rehab'er and landlord.... with a good W2 job. 

    Lenders will love you. 

    Find that second deal. Sub out more of the work this time, using the monthly profit from the first deal to pay for the labor on the second deal. By now you will have learned to use Home Depot and Lowes "6 months same as cash" credit cards to defer all of your materials costs to come due after the apartments are rented so that they can pay themselves off. 

    Working on cars is a physical job. You won't be able to work on apartments while doing that job. Writing service will allow you to conserve physical energy that you will need for working on your properties.

    My wife was a stay at home mom also and I was an idiot who refused to leave patrol during my entire police career (ghetto street cop= total waste of 25 years of my life). Don't be stupid like me. Use your talents to accumulate assets that produce income. 

    Get going.

    DL

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