Does Your Boss/Co-Workers Know About Your Real Estate Business?

General Real Estate Investing
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Does Your Boss/Co-Workers Know About Your Real Estate Business?

Rhonda E.
Realtor · Celebration, FL · Member since 2013 · 109 posts · 34 votes

Hello BP,

I was just wondering how many of you have told your boss and/or co-workers about your real estate business.

I have not mentioned real estate investing to anyone at work for many reasons. One reason is that they might think that I am not fully devoted to my current role.

For those whose boss/co-workers know what you do on the side, what was the result of you informing them about your side business?

For those who have not told your boss/co-workers, what is your reasoning for not telling about the side business?

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Ben Leybovich
Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
12y

Haha - what's a boss?

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  • Mike M.
    Longview, TX · Member since 2012 · 368 posts · 131 votes
    12y
    I haven't said anything to the boss. I've mentioned it a couple times to a few coworkers. I also bought a list of 1000 yellow letters and have had a couple coworkers who've received them ask me about them (there's 1600 folks that work at the site, so sometimes I hear about them second or third hand). I've got a big pool to market to, I've just got to get comfortable with coworkers knowing my "outside the gates" business.
    0Reply
  • Justin Case
    Real Estate Investor · Seattle, WA · Member since 2009 · 308 posts · 61 votes
    12y

    I do not tell anyone. I work in business with primarily people older than parents and one time I mentioned I had a boat in conversation and they would not let that go.

    0Reply
  • Sylvia B.
    Rental Property Investor · Douglas County, MO · Member since 2014 · 1k+ posts · 1k+ votes
    12y

    I sleep with the boss, so yes. ;-) Hubby and I run our own business with no other employees, so there's no one else to tell. However, we live in a very small town, so everyone knows everyone else's business.

    We talk about our rentals with the lady who cleans for us, our friends at church, customers who like to chit chat, contractors we know, just about anyone. We've gotten leads on several properties that way.

    1Reply
  • Joe Butcher
    Dallas, TX · Member since 2013 · 311 posts · 94 votes
    12y

    My co-workers know, which could be beneficial as one day one of them may be in a distressed situation and need my help.

    One of my coworkers received one of my letters, which was great...I never knew she owned three rental properties! I turned her on to BP and she loves it. Now we talk RE whenever we run into each other.

    I don't care if the "big boss" at my job knows or not. I do a good job and always score big on my yearly evaluation.

    My job is unique though, and what is acceptable for me may not be for you.

    0Reply
  • Britt M.
    Wholesaler · Kirkland, WA · Member since 2013 · 93 posts · 25 votes
    12y

    I don't share as it's none of anyone's business. I know a few colleagues with side businesses but they don't share much.

    0Reply
  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    12y

    I've been with my company for 16 years and told my boss about buying rentals along the way. I've also told my co-workers.

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    0Reply
  • Nicholas Breffitt
    Condo Investor · Aurora, CO · Member since 2014 · 1 post · 1 vote
    12y
    Hi Rhonda, I'm in the military and the nature of this "business" requires us to spend more than just a standard work day together. Because of this, I've been caught reading REI books, browsing the internet for great deals, or even making deals during some of our "off" time so, in essence, I've told my boss. I think that's hurt me a little bit because they look for total commitment from us and I get the impression from them that they don't think I am. For starters, I am completely committed to my work but am a big proponent of separating work from my free time (it keeps me from going crazy). The thing is, there will come a day when the Air Force will tell me they don't need me any more but I'll still have my family to think about. I think there are pluses and minuses with telling a boss. On the one hand, we're expected to be committed to our jobs (which I think is completely doable while investing in real estate) but a boss may look at it differently. On the other hand, I get questions from coworkers all the time about investing. I try to use those opportunities to teach and to expand my own knowledge of the subject. Of course, this is just my opinion but I think it depends on the type of job/boss you have. I plan on taking my career to retirement from the military but what's going to keep me going well into that retirement is my investing.
    1Reply
  • Christine GlasnerPro Member
    Investor · Winston Salem · Member since 2014 · 114 posts · 26 votes
    12y

    Hi. My day job is high school math teacher. I have told a few of my teacher friends. I have not specifically mentioned to my principal. Not that I'm fearful, many teachers have other jobs or income streams. Everyone's situations is going to be different. I guess it just depends on what you are comfortable with.

    Some people don't tell others because they are afraid their 'friends' won't think they can succeed and try to talk them out of moving forward. Others have the 'boss' issue.

    0Reply
  • George P.
    Property Manager · Livonia, MI · Member since 2011 · 4k+ posts · 1k+ votes
    12y

    most of my coworkers know, but my boss does not. the boss does not talk to us unless it's work related, so i dont think the boss knows. i wont hide it, but not planning on telling.

    i give out lots of "i need a guy for this" referrals.

    0Reply
  • Ben Leybovich
    Rental Property Investor · Phoenix/Lima, Arizona/OH · Member since 2012 · 4k+ posts · 4k+ votes
    12y

    Haha - what's a boss?

    2Reply
  • Jeff Burke
    Condo Investor · Cincinnati, OH · Member since 2014 · 9 posts · 1 vote
    12y

    I know the owner as well as president of the company I work for own rentals, and asked for advice on getting started. The owner of the company tried to sell me two while he financed them for me.

    0Reply
  • Lisa Miller
    Investor · Port Orchard, WA · Member since 2014 · 41 posts · 23 votes
    12y

    Last year I had my once every 10 year security check. Where I work, people in debt are a high risk... $895k in debt... I had a lot of explaining to do because my day job could never support that let alone living expenses. Of course it was explainable, rental property. As for my boss, they know and they hate it when I burn my vacation leave to flip or clean or paint and come back to work burnt out vs relaxed. I show them all my vacation pics... Me ripping out flooring, a completely full dumpster, before shots and after photographs. When I'm stuck on a project I bring in pics and ask how to fix this or that. It's just the way it has to be, for now. Someday I will vacation anytime I want.

    1Reply
  • Anthony GaydenPro Member
    Rental Property Investor · Omaha, NE · Member since 2014 · 2k+ posts · 3k+ votes
    12y

    I have told everyone who will listen, but keep in mind I am a buy and hold investor/landlord.

    I was surprised how supportive the majority of people are with concern to real estate. Several have told me that they do the same thing, but with single family homes, though my focus is multifamily.

    One or two have been negative, but I just brush it off.

    Podcast Guest on Show #21
    0Reply
  • Eric Blanchard
    Specialist · Portland, OR · Member since 2013 · 96 posts · 19 votes
    12y

    My boss knows, but he's a general contractor and I've noticed that people in that profession tend to have a favorable view of investing in RE. My coworker always asks about my project.

    0Reply
  • Tyrus Shivers
    Investor · Jessup, MD · Member since 2013 · 437 posts · 180 votes
    12y

    I work for a company who employs about 43K or more employees worldwide. My front line manager and co-workers know. I doubt my sector president or HR even knows my name unless it came on a piece of paperwork. That being said I am required to disclose if I own any percentage of anything, and I have to do a financial disclosure annually not to mention a background investigation every so often. In a nutshell a whole lot of people know LOL. As long as I am not in direct competition with them, not putting anything at risk, and I am doing my job they could care less.

    0Reply
  • Andy Robison
    Investor · Kansas City, MO · Member since 2013 · 465 posts · 170 votes
    12y
    Both my bosses know, as does the company president. When we get together twice a year for evaluations we always talk. It has gone from why would you do this to what are you doing next how are the returns? So far everyone I talk to are supportive except my friends who like to rag on me for being a "slum" lord. But one day when they are working and I'm driving my LFA they can crack all the jokes they want :D
    0Reply
  • Troy Fisher
    Specialist · Kirkland, WA · Member since 2013 · 1k+ posts · 817 votes
    12y

    I quit my last job because as I said, "Working 60 hours a week a has cost opportunity that I can no longer afford. I am losing more money by being at work and missing out on deals than I am working." Of course that was when I could flip houses in Las Vegas and clear 100%. Now I work as a consultant, and everyone knows. Because I am upfront with them and say, "I work in Real Estate. If an opportunity comes up and I need to fly to Buffalo I will usually need to do it with a little notice."

    At my previous job did I get in a little bit of heat because I got caught having to rush through some short sale negotiations during work hours? Sure. But people knew what I was doing, I made up for it by putting in a couple of extra hours and I had a partner to pick up the pieces when I simply could not.

    0Reply
  • Brie SchmidtBusiness Member
    Moderator
    Real Estate Broker · Chicago, IL · Member since 2013 · 6k+ posts · 5k+ votes
    12y

    My boss knows and her boss, my Director, likes to tell others when introducing me that I am also a real estate investor. I am in sales so when I am not travelling 16 hour days I am working 10+ hours at the office plus take client calls even when I am not at work. They understand that I may need to take time here and there to deal with my REI business.

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    0Reply
  • Nicole A.Pro Member
    Rental Property Investor · Baltimore County Maryland and Tampa Florida · Member since 2013 · 2k+ posts · 2k+ votes
    12y

    I try not to talk about it too much,but my boss and some coworkers do know about my rentals. I only told them because I feel comfortable letting them know that without using it against me such as saying I'm not dedicated enough to the job. I'm very happy I'm in such a relaxed office.

    0Reply
  • Colleen F.Pro Member
    Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
    12y

    I don't share that type of information with people I work with even when I was in the office every day I didn't. I have shared buying experiences but no reference to the fact that they are investment purchases. My pharma day job is not tolerant of other commitments and as long as it is my own time to manage , it is none of their business. My husband on the other hand had to bring it up with his employer since they want us to relocate. That was an interesting discussion and has not reached a conclusion. I think some people just don't understand why we invest or they make financial assumptions if you tell them about property. I have always had a hesitancy about sharing anything remotely financial with people. Maybe if my day job was more related to real estate I would feel different.

    0Reply
  • Rhonda E.
    OP
    Realtor · Celebration, FL · Member since 2013 · 109 posts · 34 votes
    12y

    @Mike M. how do you handle situations when co-workers call you about your yellow letters? How do you explain what you are doing on the side?

    0Reply
  • Mike M.
    Longview, TX · Member since 2012 · 368 posts · 131 votes
    12y

    @Rhonda E. just the couple I have received have been from acquaintances, not folks I work with directly day-to-day. I just explain that I buy real estate, making the transaction as easy on the seller as possible, and in exchange expect to purchase it below market value. I've had no issues with that approach so far.

    0Reply
  • Jordan Thibodeau
    Rental Property Investor · San Jose, CA · Member since 2013 · 486 posts · 170 votes
    12y

    My manager knows and my colleagues.

    0Reply
  • Joe Fairless
    Investor · Cincinnati, OH · Member since 2013 · 2k+ posts · 1k+ votes
    12y

    Towards the end of my full-time job at an ad agency I started teaching a real estate investing class on the side. I found that as long as I made it clear to my employer it didn't effect my performance at my job, it was a benefit to talk about it because I had co-workers attend my class. And, after I started doing full-time investing, some of those co-workers who knew I had been investing because investors in my deals.

    0Reply
  • Pam R.
    Investor · Delaware, OH · Member since 2013 · 224 posts · 64 votes
    12y

    I work in a big office, and only a couple of people know I have rentals. I just prefer not to share that information. From a business standpoint, the company wouldn't care, as moonlighting isn't against any rules.

    Ironically, I've had a vegetable business on the side in the past, and all my bosses/colleagues knew about that and thought it was cool. I even shared a couple of local newspaper articles about that business. But I keep the real estate activities under wraps.

    0Reply
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