High Income Family Looking to Start in REI Full Time

3 Replies

I am looking for some advice on how you would get started if you were in a high income family. My wife is an active duty military doctor and I am a veteran myself. I am finishing up my degree from Old Dominion University in finance with a concentration on RE and a minor in civil engineering technology. We are not looking at buying revenue streams, because most houses would cash flow well with a 50% down payment. With my education though and not having to "sell or starve", I figure it is best to work within the RE industry. The goal is to work my way to BRRRRing as much as possible in multifamily.  I did post this in another section, but I thought this may be a good place to post as well as I would receive different opinions here.

With that said would you get started in property management, mortgages, appraising, or as a commercial (multifamily emphasis) or residential agent?

@Rory Compton If you have no immediate needs for income and looking more for long-term growth, I would look at becoming a commercial agent. The other thing you could look at would be selling private equity investments.  

@Jim Pellerin thanks for the reply. I had a PM tell me starting as a manager was great because you could learn the buildings inside and out, so as a commercial agent or investor I could walk it and spot everything. But the more I am reading, the more I am seeing that being an agent has a lot of advantages.

@Rory Compton, I would agree, if you're not in need of the income right now, commercial broker could definitely be the way to go. You could do quite well, and have first stab at solid investments (or investments you want to throw my way :p)