Hello BP Community, I'm a newer Pittsburgh investor who currently owns a duplex and is looking to grow my buy-and-hold portfolio. I am very well studied, but now need to focus on improving my hands-on experience, skill set, network, and team. Right now I'm looking for a R.E.-related job that could provide not only income, but potential networking and learning opportunities to become a better, more confident investor.
My goals for the job:
-Allow me to leverage at least one of my main strengths: Analysis, Personal Interaction, Strategic Planning
-Accelerate mastery of a R.E.-related skill or put me around people that could grow my network and team
-If full time, if it could provide income that could at the least replace my current 45k per year, and ideally be able to improve my chances on paper at getting future refinance loans. Also open to part-time options.
-I have a 4 year college degree, if that would matter for a particular suggestion.
So far, I've had suggestions like becoming an agent, an appraiser, and a property manager. Feedback on those paths, and suggestions beyond those would be much appreciated. I'm sure others have considered the same and would benefit from this thread. Thanks in advance.
Reach out to Matthew Simmons at 5th Ave Property Group.
He does real estate in Pittsburgh and is growing a lot and doing great things. He had been looking for an acquisition manager a while ago.
Hi Robert, Congrats on the new journey - REI is a fun endeavor to take on. I would recommend any type of loan originator position whether it be in the conventional or private space. You learn a lot about real estate, make a lot of great connections, and can use your personal strengths in this role. I love my job and I get to be surrounded in everything RE.
@Robert Zazac I agree with what Stan Hill says. Property inspection is the best return on your time in the industry and in my market there is a huge shortage of them.
@Robert Zazac Great thread! I'll be following along; I've been interested in the same beneficial day jobs to help grow and make connections w/ REI. Thanks.
@Michael Noto Do you have any suggestions on how to get started in CT? I’m doing some research now; but any advice/tips would be greatly appreciated! Thanks.
@Jalen Johnson All of the requirements are listed on the state website. I would start there. The hardest part from what I hear is getting an already licensed inspector to mentor you because I believe you have to observe/assist in 100 inspections before you can go out on your own among other license requirements.
Garbage man .. you’ll spend a good deal of your time picking up other people’s crap if you do this long enough
@Dennis M. Got a point right there. May not exactly help with networking but you’ll get to know an area very quick and start to notice the distressed properties waiting for someone to make them an offer.
Great subject topic, as I have been researching a few "day job" related fields over the past several months. I am curious to see other responses as well, but I think I am leaning towards the lending side, and plan to make a decision by the end of the year. The inspection side also has a large appeal to me as well, but with a sales background, the lending side probably makes most sense for me to pursue.
In any path that you choose, best of luck!
@Michael Noto Thank you, the state website clarified the requirements. I figure finding a already licensed home inspector willing to lend their time may be the main obstacle...Time to start networking! Thanks again.
After just a day, I just want to say THANK YOU to anyone who has offered up a suggestion. I know many post threads on here never get any attention, so I appreciate all those so far! I will be going through each response one-by-one and looking further into the possibilities. Once I settle on something, I will also continue to update this thread and my profile.
Almost everyone, at least when starting out in REI, needs a main source of income, so I think this is a conversation that could benefit anyone who is looking to fully leverage their time and effort, so let's keep it going. Looking forward to any further input.
@Robert Zazac great dialogue as I am digging into this as well and trying to figure out the best place to start. Thinking of getting my real estate license. Curious if most people in REI find this necessary/beneficial?
I find being a commercial real estate underwriter for a bank provides the skill set to quickly analyze a deal, perform proper due diligence, and have a better interaction with appraisers and attorneys. I find the only negative about this (which isn't the worst thing) is that it gives me too conservative of a mindset.
Honestly, any job where you have the freedom to step out of the office and make a couple of phone calls. Better yet, one where you can take off for an hour everyone in a while during the day (closings, inspections, etc).
If it’s real estate related, that’s just a bonus.
Set your sights higher--Cash is king--find something where you earn $150,000 year (vs $45,000) and learn what you need online and via attending networking events and talking to people.