WHO ARE YOU? What do you do besides real estate?

Investor · St. Louis Mo · Member since 2015 · 211 posts · 129 votes

Hello BP nation!

My question for BP nation is what is your day job? Although we would love to be, most of us are not yet full time investors.

As I grow older and try to figure out the direction of my career, I love hearing the stories of other successful real estate investors and how they got there. I am currently...struggling... at my day job (100% commission insurance salesman) and dream of finding a job I can enjoy while I slowly grow my real estate portfolio.

So BP... What is your day job and what does your life look like trying to work it while you grow your investing career?

Ready...GO!

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Scott TrenchPro Member

Rental Property Investor · Denver, CO · Member since 2014 · 2k+ posts · 6k+ votes

I'm flattered you'd like my opinion! The short answer for me is that I presume a start from an office type job earning median income or greater for the journey toward early financial freedom. The reason for this is simple - it seems to be the silent majority of the BiggerPockets userbase, and it was my own path. Before BP my day job had nothing to do with real estate.

I'm not sorry that I started with a job in finance that paid a median wage. It allowed me to easily get a loan on my first property. That would not have been easy had I started with a sales gig. However, I did change careers and move into a Startup (BiggerPockets!) after about a year. The sales portion of my income did not help me qualify for financing until about 2 years in, nor did my rental income. That was definitely a challenge in getting financing, but luckily Josh paid me enough of a base salary to buy my first place haha.

I think that the key is to find a career that offers potential for scale, and once you find it, stay consistent as you accelerate toward early financial freedom. Lenders like consistency and getting great financing is to me, as a part-time, on the side real estate investor, very important.

Of course, that all fades away in the face of the prospects of exponential growth. If you think you can make half a million or more with a new gig, that could be a shot worth taking.

So basically my path started with something steady to get the ball rolling, then I took a bit of a risk with part salary, part commissions. Then, I've been buying and creating assets with hard work and frugality for several years, which has produced more consistent income.

Remember, BP users are often an exception to the rule in real estate. Many folks do not become wealthy because they invest in real estate, in fact, probably most of the landlords that I've met that are not on BiggerPockets are very wealthy because they worked hard in their careers and invested in real estate on the side for years. Another way of saying this is that many of the big landlords and real estate players that I meet have built awesome busiensses or had great careers and have a big pile of money to invest. THEN, they invest that intelligently in real estate. That, or they invest consistently over a career and have a huge portfolio -- this is what I am trying to achieve, with the caveat that I want to forever retain the option to leave any career and live off the real estate income happily should that be my preference.

I work at BiggerPockets and while I invest consistently in real estate, I believe that I will create most of my value professionally through my career here, as will be the case for most of the middle and upper-middle class employed users of BiggerPockets. Real Estate is not my full-time job and I will have failed if I am ever forced to turn to it full-time. Real Estate is a tool to help me produce income and build wealth capable of supporting a wonderful lifestyle on part-time efforts at most.

Podcast Guest on Show #223

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Jerome MorelosPro Member
Redlands, CA · Member since 2017 · 205 posts · 88 votes
9y
Graduated from college a year ago as a Respiratory Therapist at the age of 20. Love this job as I only work 3 days a week and spend the other 4 days on REI!
0 Reply
Jurgis Kirsakmens
Investor · Riga, n/a · Member since 2015 · 61 posts · 23 votes
9y
Quite a number of software developers here :)
I'm became software developer AGAIN a few years after I've got into real estate as self-managing landlord (which I did after I exited software business after selling company I co-founded 15 years ago).
Now I'm both landlord and real estate tech business owner :)
2 Reply
Chris ClarkPro Member
Wichita, KS · Member since 2017 · 65 posts · 55 votes
9y
I'm a CPA at my day job... I'm working with other real estate investors and agents in the area. Which is also fueling my desire to invest.
2 Reply
Tanya F.
Rental Property Investor · Madison, WI · Member since 2013 · 629 posts · 339 votes
9y
I'm a scientist. When I was getting my doctorate around 1990, I bought my first condo. I've been a researcher, visiting professor, mentor to undergrads and grad students at the University of Wisconsin. Intellectually exciting, and great fun to be teaching and mentoring, ...being a role model for students. BUT. There's no job security, if I have a position I know will extend for two years - that's a rarity. Especially now in this political climate. ugh. MARCH for SCIENCE! That NIH budget they're talking about in congress? That affects me directly. I'm waiting to hear to know if I *have* a day job next year.

So. Our real estate investments are the income we can count on. 6 doors.
4 Reply
Bill Gulley
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
9y
I'm a voice over artist for Pamela Anderson and before that I sold pots and pans door to door.
The rest you can read my profile.
I'll say too, my big money was not from owning real estate but it set the stage to partner in various other business concerns and financing. Gotta be flexible, opportunity is all around you. Good luck :)
4 Reply
Phil LeNeveu
Rental Property Investor · Boston, MA · Member since 2017 · 43 posts · 18 votes
9y
Investment Banker - looking actively at TK (i know there are mixed opinions) due to my work life schedule
1 Reply
Ingrid B.
Salt Lake City, UT · Member since 2017 · 18 posts · 6 votes
9y
16 years in healthcare IT industry as Business/Data Analyst/PM still earning W2 in the same field. Concurrently 14 years as RE investor. I owe my husband his vision in RE. I was afraid to start investing when we just got married in 2002. Good thing I listened to him and we now work as a team. 7 homes with total of 10 units now, closing for the 8th in less than a month. Had built a new house several yrs ago and now living in it. Hoping to be W2 independent in 2-3 years as soon as my principal mortgage is paid in full. Healthcare IT is a competitive industry. You get burnout fast, high stress and low job satisfaction level. I'm counting the days when I can just do 100% RE - my real passion. I realized long ago that office job sucks but since I still need the benefits I hang tight. Real estate where the money really is if you know how to do it right.
1 Reply
Hazel Wiggs
Union City, CA · Member since 2017 · 35 posts · 13 votes
9y
Kyle Grimm I meant BP SHOW #92 for Brandon Turner's story :)
1 Reply
John Thedford
Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
9y
Originally posted by @Steve Vaughan:

Stalker and serial killer
Of forums and sweet deals! LOL
Been full time since '02, but used to underwrite private placements as a series-7 securities broker and trader.
This is great. Like at the end of a really good play, you read the program and see what all the awesome leads, support and ensemble do in real life!
Stalker and serial killer:) LOL
I hope the didn't stop at that sentence:)
There is NO better way for financial freedom that RE!
1 Reply
David Zheng
Investor · Saint Louis, MO · Member since 2016 · 970 posts · 1k+ votes
9y
Im a tiger tamer and heir to the playboy empire. sell those fidget spinners as a part time gig.
kidding

Im a consultant in the mortgage backed securities division at Wells Fargo (surprise!) and I own an EDM/Nightlife/Rave production company
1 Reply
Colleen F.Pro Member
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
9y
Day job now is clinical research in a big pharma company. Background as a psychiatric, pediatric, and school nurse, also a professor, and a mom. The diverse backgrounds are interesting to see!
2 Reply
Carmello Pronesti
Clearwater, FL · Member since 2017 · 10 posts · 2 votes
9y
Hello everyone, For my day job/ career, I am a health services technician in the US Coast Guard, I have been in for five years now, and currently working the phlebotomy department, handling blood draws and other fun bodily specimen management. I have just started listening to the bigger pockets podcasts and am loving it so far, I have a been a landlord now for about two years for a property I own in Massachusetts that I manage myself with a monthly cash flow of about 500 dollars per month and am looking to invest some more. I'm currently stationed in Florida (my home state) so if anyone would like to get together in the Tampa area to chat about potential investment I would be more than happy to meet. Thanks to bigger pockets for offering this valuable tool for us to network and learn.
1 Reply
William S.
Rental Property Investor · Overland Park, KS · Member since 2015 · 492 posts · 234 votes
9y
As it says next to my name Industrial Designer. Currently for a power tool company, but have designed fitness equipment, toys, housewares, office furniture, gardening tools, the list goes on...
1 Reply
Anna Buffkin
Investor · Pawleys Island, SC · Member since 2015 · 324 posts · 385 votes
9y
I'm a part time accountant, full time mom. I worked as the plant accountant for a foundry for 5 years. When I had my twin boys last year, I began working from home part time as a remote accountant for the foundry and it's sister company.
My husband is a high school English teacher and the offensive coordinator for the school's football team.
We currently own 3 rentals and are looking at a 4th on Sunday.
1 Reply
Bill Goodland
Rental Property Investor · Allentown PA, United States · Member since 2016 · 567 posts · 442 votes
9y
Originally posted by @Scarlett Mulligan:

@Rodney Harris - I need nutrition help! I've been giving a lot of consideration to low carb lifestyle. I just listened to David Osborn podcast. He talked about health being synonymous with wealth .... it gave me a different perspective toward changing my eating habits.
I've enjoyed reading about all who have participated.... thank you!
I am a physician assistant currently making a transition out of the ER into Urgent Care. One of the primary reasons for doing this is to open up my head space so I can concentrate more on myself & my well being rather than focusing on my patient's condition, charting, billing & coding. My patients will be far less challenging in the UC environment which will allow me more energy to focus on learning all I can about REI.
Patient care was once a passion for me. The insurance industry has created a less patient friendly environment. After 12 years of practice, I've decided the never ending administrative demands & perpetual focus on billing that I'd be much more fulfilled doing something for myself. If I'm going to be working in a business world then I might as well make it official.....LOL! I came in with a servant's heart. Seems I'm only serving the CEO .... the patient is simply a means to an end. My medical knowledge is now my commodity, no longer my zeal.
I look forward to what lies ahead! I've been a lurking member for 7 months & will soon (July) have much more time to dedicate in the direction of financial freedom.
Hi Scarlett! I am attending physician assistant school in august and hope to get an ER or UC job straight out of school so that I can be "full time" at 3 days a week and use the other days of the week to enjoy/hustle getting my RE business up and running and/or work extra shifts to accelerate my savings to invest!
0 Reply
Calvin Beeke
Investor · Rockford, MI · Member since 2017 · 16 posts · 11 votes
9y
I recently sold my small marketing firm to a large company and now am a full time real estate investor! It took me about 7 years to realize that although always an entrepreneur, very few product ideas or service ideas can garner what real estate investment does!
Now, one could say, I flip for a living and buy and hold for the future!
3 Reply
Garrett Diegel
Rental Property Investor · NV · Member since 2014 · 241 posts · 85 votes
9y
@Kyle Grimm - I am in the same boat as you but I own my insurance practice and work / sell for larger company as a captive agent. This situation is a great opportunity because you can build your renewable business up to something that will provide a good income while allowing you the time to pursue other opportunities in real estate. @Scott Trench hit the nail on the head with his strategy. I think you have it right but the, 100% commission only paycheck for you will make things tough. Maybe look into a company that pays renewals or move into the real estate space as an agent so you can build a referral book of business, still 100% commission but might offer additional opportunities moving forward.
0 Reply
Jeneen Ford
Lender · Cleveland Heights, OH · Member since 2015 · 7 posts · 5 votes
9y
My day job is as an auditor at a large regional bank. My professional background is in commercial underwriting. This has afforded me the opportunity to invest in SF rentals in the past. I'm currently working on my first flip after an 8 year absence.
1 Reply
Jonathan KlemmBusiness Member
Moderator
Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes
9y
Civil engineer working for a large heavy highway contractor. W-2 is key to opening up as many doors and avenues as possible for real estate investing!
[email protected]
Quality Builders4.968 Reviews
Website View Page
0 Reply
Stephen Masek
Investor · Mission Viejo, CA · Member since 2012 · 627 posts · 204 votes
9y
Originally posted by @Tanya F.:

That NIH budget they're talking about in congress? That affects me directly. I'm waiting to hear to know if I *have* a day job next year.

So. Our real estate investments are the income we can count on. 6 doors.
Federal debt is now over $61,000 per man, woman and child, so quite a few things have to be cut.
Even if the entire economy were to flop, decent residential real estate will still have value.
1 Reply
Martin Spielvogel
Investor · Escondido, CA · Member since 2017 · 55 posts · 15 votes
9y
I am a general contractor. I started in construction when I was 17. Did it part time and went to school. Got my license at 22 and build my (for a client) first house 2 story 1600 sq ft at 23. I have been self employed ever since. Well except for 18 months when I went to work for a friend of mine that owns a manufacturing business. I wanted to see what it feels like to receive steady paycheck. Did not like it. My freedom was gone. The nice part was I got to travel to China and Europe. Now I am back in construction and I love it. I always dreamed about going into REI but never took action. Now I have my goals and will do what I can to reach them. Good luck.
2 Reply
Matthew A.
New Haven, CT · Member since 2016 · 90 posts · 99 votes
9y
Accountant in a research department at Yale University (Med School). Only 29 years old, and just started into real estate last year. I also flip penny stocks, buy/sell option credit spreads, and invest in a few long term Tech/Service stocks in my free time.
I would be happy just replacing my income in anything by the time I'm 35 (Passive/Semi Passive that is. No more office job).
Don't need to be a billionaire, just enough money to enjoy some of the little things in life without working until I die.
Matt
2 Reply
Robbie Taylor
Lexington, KY · Member since 2017 · 18 posts · 19 votes
9y
I'm a dentist, but a nontraditional one. I'm a clinical team leader at a dental school. I have a clinical team of 39 students that work under my license and general supervision (along with other clinical faculty). I'm responsible for their patient pool, final say in treatment planning, cover procedures, and insure they get their graduation requirements. I also take an active role in clinic management and quality assurance and will be finishing a masters in health policy and management. I don't love teeth. I do love my job, which is mentoring and building relationships with some very intelligent and driven young adults.
My wife is a real estate agent and I LOVE her job. I throw myself into it as much as I can. That eventually lead to our interest in investing.
5 Reply
Trevor Ewen
Rental Property Investor · Weehawken, NJ · Member since 2014 · 1k+ posts · 704 votes
9y
@Kyle Grimm
I am a software engineer and partner of a small technology firm based in New York. I like good books, good movies, and great music.
0 Reply
Willrock Herrera
Los Angeles, CA · Member since 2017 · 1 post · 1 vote
9y
I am in the US Air Force fixing jet engines hoping to make enough to replace my salary in passive income to help retire and take better care of my parents. To give them a better lifestyle that they deserve.
1 Reply

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