Best job to get if you want to be a realestate investor.

9 Replies

I am a manufacturing engineer and I don't like my job.   I was interested in engineering while in school but now find that I'm just not passionate about it.  What I am passionate about is real estate investing and the finances.  

With a B.S. in mechanical engineering.  Does anyone know of a good job I could work that would give me an advantage in the real estate industry while I am slowly investing in real estate.  I don't want to be a real estate agent.

I saw a job posting for a county tax assessor.  I feel like I could learn alot from this job but i don't know for sure.  

Does anyone have any thoughts?

An engineering job will likely be the most lucrative option. You can use that income to fund your real passion.  If you are lucky, it may lead to an earlier or better retirement.

Originally posted by @Joseph Jar :

I am a manufacturing engineer and I don't like my job.   I was interested in engineering while in school but now find that I'm just not passionate about it.  What I am passionate about is real estate investing and the finances.  

With a B.S. in mechanical engineering.  Does anyone know of a good job I could work that would give me an advantage in the real estate industry while I am slowly investing in real estate.  I don't want to be a real estate agent.

I saw a job posting for a county tax assessor.  I feel like I could learn alot from this job but i don't know for sure.  

Does anyone have any thoughts?

You say you don't want to be an agent, and I don't blame you. I have no desire to buy or sell houses to average home buyers. However there is something else that you can do with a real estate license. 

I have considered getting a real estate license just so that I can get into property management. While you don't need a license to manage your own properties, generally you need one to manage other peoples properties. I have always felt that being a property manager is one of the best ways to learn about investing. You work directly with investors and see the associated costs, the profit margins, the best and worst areas to invest, etc.

I would suggest keeping your lucrative job for a bit while you establish you REI career. Learn while you have the funds to recover from mistakes, because they will happen. That's what I'm doing, but I actually love my full time job so it's a bit different.

Hi @Joseph Jar - I have to a agree with @Jassem A. Your W-2 income as is a tremendous asset in creating wealth through REI. My husband was a mechanical engineer, and was not passionate about that path either. He leveraged his engineering experience to transition into business management, where he is much more challenged and interested. If you don't want to be an agent, I think you will find most W-2 jobs related to real estate investing make much less money than you are currently making. If you are entrepreneurial, a government job would get old quickly. Good luck with finding your path!

Hi @Joseph Jar .  Congrats on becoming an engineer!  The knowledge and time to get through school and become one is commendable.  You aren't a quitter and that says a lot about you.

Can you identify what it is that you dislike about it specifically?  Is it the job or the people?  Would you be happier in a different position (out of the cubicle, for instance) somewhere else maybe?  A good w-2 is a solid foundation and backstop for many successful investors.

If you do decide to hang up your cleats, I suggest lining up any financing you may need for investing before you quit. Go ahead and get that HELOC now if you were considering it. Lots of folks seeking advice about how to obtain a loan right after they quit and it's extremely difficult. Good luck to you as you find your way!

Best job may not be a real estate job. When the real estate market tanks like it 2008, you don't want to lose your income as well. Buy 10 cash flow properties using the low interest rates of bank financing. Figure out how to get a cap rate of 9% or 10% and cash-on-cash over 16% with 20% downpayment. Get your passive income greater then expenses and then quit your job.

Flipping, wholesaling and being an agent are also jobs. I run a real estate team and could not get passionate about helping people buy overpriced homes. It was hard for me to take my investor cap off. Being an agent does teach you the market very well, how to negotiate better, and real estate contracts. 

Wholesaling is way harder than I thought. It is a great way to learn how to be a great buy/hold or flipper. You get to learn from other people's experience and feedback. If you find great deals for buy/hold or flippers, they will be more than happy to show you to the ropes in exchange if you ask.

Flipping requires a lot of knowledge and experience. Catch-22. Do you flip first and maybe risk losing money because you don't know what you are doing. Or do you buy/hold first to learn the ropes.

In either flipping, wholesaling, buy/hold or being an agent, the best advise is to partner 50/50 with someone with lots of experience and knowledge. You do 80% of the legwork including finding deals and money, and they provide 80% of the experience and knowledge. You don't need to pay a dime in Gurus. Learning from experienced investors in this sort of mutual exchange is the way to go.

Appraisal is a great introduction to real estate and the appraiser always gets paid first.  You get to look at the financials and psychology of thousands of properties.  You won't get that thru a Guru or a mentor. 

Generally you can approach real estate investing from two strong positions: with lots of knowledge or with lots of capital. There's a spectrum between the two, but if you've got a well-paying job you're probably best advised to keep that and build up funds to investing with. You can either know what you're getting into and do things yourself or spend a bit more money going for a less DIY approach (while still learning).

Like @Anthony Gayden said, I always suggest people without funds start out working for a property management company. It's a great way to learn from the ground up while making money doing so, but you'll make more as an engineer and be able to fund your investing until your investing funds you. Maybe not the answer you're hoping for, but that's your safest bet.

Hello! I don't know if this is relevant at all, but I am a server at IHOP. Although I am grateful for my job, I wish that I had a job that would at least teach me something about the real estate world since I want to be a real estate investor long-term. I'm currently in college right now pursuing a degree in business, but most jobs need somebody with more qualifications. I guess this is my dilemma, does anybody have any suggestions for me? At the moment, I'm trying to save up $1,000 to get my real estate license and become an agent. 

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