Which career should I pursue?

Question

I am having the hardest time deciding on a career path that will ultimately help me in my real estate investing goals. Any recommendations on jobs or trades that will prepare for my life as an invester?

David M. · Answer

@Kyle James Horstmann

Honestly, what is the “best” W2 job you can get?  Are you a professionally?  You need a good income to qualify for financing and to have funds in general.  You’ll want to have employer provided benefits.  Depending on your job, if you learn how to run a project, the skills are transferable to running a real estate investment, in general.

If you want to be hands-on, you can still do that while holding a “white colllar” job.  I know many “white collar” co-workers (well, former now) who were really handy.  If the “white collar” route isn’t for you, I still say find the best (for you) job you can.

If you look past the “mechanics” of any job, you’ll see that there are transferable skills.  For example, your “white collar” professional should be able to plan and think ahead.  Well, your tradesman has to do the same thing thinking about what tools and materials to bring for that day and for the next day.  That’s why many of the trades who work themselves need to be really “good,” or perhaps multi-talented

I hope this helps.  Good luck

Mack Benson · Answer

Like most questions in real estate I think the answer to your question is, "it depends." First, what are your long term goals? Being new you may not have any idea what your ultimate goal is so you may want to look to careers that can give you the widest range of skills possible. Some of the skills that are important while investing include

• Finance
• Management/Leadership
• Sales
• Customer Service

If there is a number one skill from that list, I would have to say sales. But that could be my personal bias because it is a skill I have not focused on and one that I think I could use the most development in.

You could look in your area for customer facing sales position so you can learn those two important skills. The finance skill could be honed in an accounting position with almost any company. Management or leadership can be gained by leading people in just about any capacity. From business to recreation you can gain portions of this important skill.

Michael Kiley · Answer

@Kyle James Horstmann

There are many jobs that could help you in your RE investing goals. A job in construction will help you if you want to be hands on and understand the tangible part of your investment. Any job managing people will teach you skills to manage your tenants and contractors. But my favorite is working as a real estate agent. It gives you an opportunity to work directly in the real estate field gaining knowledge in the areas you will invest and help you build relationships that will ultimately help you become a better real estate investor. Best of luck!