What do you like most/least about working in real estate?

Question

I am currently in the middle of a career change and the thought has crossed my mind of becoming a full-time real estate investor. I mostly have experience in rehabs/flips and rentals, though only through a few houses so far and not full-time.

What do you like most/least about what you do? And if you started this out on the side, what convinced you to move full time? How many properties do you think you can own (with hiring PMs) while still keeping it as a side business?

Thanks for any info!

Brandon Turner · Answer

Hello Amie,

I love being able to choose my own schedule - though I work way too much. But more so - I love the ability I have to create indefinitely. Like - there is no ceiling. The performance of my future is 99% dependent upon the way I run my business. I love that.

Least - I grow tired of tenants sometimes :) And, the weight of it all sometimes seems ominous, but I just remind myself that everything cashflows.

Full time real estate is fun - but only if you LOVE real estate. If you LOVE teaching, be a teacher. If you love cooking be a cook. If you love real estate, be a full time real estate investor. Those are my thoughts, anyways :)

David Gellner · Answer

Hi, Amie D.

It's nice to see fellow Washingtonians on BP!

My favorite part about real estate is the wealth building aspect. Perhaps I played too much Sim City as a child, but just thinking about my wealth growing over time excites me! I literally can't stop thinking about it.

I'd definitely agree with what Brandon Turner said: Dealing with tenants is the biggest pain. In all honestly, my family has been lucky with the tenants that we've had/have,but It only takes 1 or 2 horror-tenants to make you re-think being in real estate!

Amie D. · Answer

Thanks! I know, the whole "do what you love and money will follow." Well, I did that, and it was a #fail. So, I'm looking for something else...

Bill Gulley · Answer

Like the best: The fact that ever deal is different.

Like the least: The fact that every deal is different.

It was the best of times, it was the worst of times....

Joel Owens · Answer

I love what I do. Probably the least productive activity is having to weed out the pretenders from the real players.

I typically do this with having anyone I work with show bank statements and to verify that when they say they have 400,000, 1 million, or whatever to work with that they actually do in fact have that.

You would not believe the number of people out there that pretend to be working with capital or overpromise themselves. I don't give people like that the time of day.

What do you like most/least about working in real estate?

What do you like most/least about working in real estate?

Most Popular Reply

5 Replies