Investing with a Full-Time Job

8 Replies

Hey BP! So I am intending to get invested in real estate, but my end goal is not to "quit my 9-5" like I see so many people striving to do. I love my career and am working my way up as an architect.

I'd like to get some input from others out there who do real estate investing "on the side" and have been successful.

I love my job too and working "on the side" on real estate as well. I think that's the best combination: have a job you love so that you can save money to invest on the side. If you lose your job you will have the investments to support you for a bit. If you take a hit on the investment, you still have a job you love.

Brendan - Congrats on looking to "take the leap."  Your question can be tough to answer without some additional info but I will share with you my overall thoughts as I'm currently investing while working a full time job.

1 - Ensure your profession allows you some sort of time to "break away" to handle issues as the come up (and they will).  I'm not sure about the time constraints of being an architect but you want to be sure you have the flexibility to answer the phone if/when needed

2 - It all depends on your investment strategy but you will want to build a solid team around you that can deflect some of the noise that comes with being a RE investor.  We primarily deal in buy and hold right and we have an awesome property manager that only reaches out when things hit, what we have determined to be, level 10.  Same would go for finding a trustworthy GC if you intend to flip

3 - Structure and process.  I can't preach this enough.  The RE game is fluid and requires a certain amount of agility but the more structure you can put around it the better chance you have of being successful (my opinion).   As an example, maybe you set up a process by which your real estate agent vets the deals for you.  Once the deal hits a certain criteria it gets pushed to you for final approval before an offer is made.  That way you aren't spending all of your free time searching for and vetting deals

4 - Be prepared to put in the extra time.  This seems like a no brainer but at some point you will have to spend time after work or on the weekends working on your investments or your business.  Make sure the people in your life understand this and support you.  Having that support makes the conversation way easier when you look at your significant other on Sunday at 3pm and tell that person you have to bail on  family dinner because the deal of the century might have just dropped into your lap

5 - Research.  You are a step ahead of the game by posting here but I would suggest you check out the BP Podcast.  Go back and look for shows that deal specifically with investing with a full time job.  They are easy to find and provide a lot of good insight.

Good luck on your architectural journey as well as your real estate investment journey.  Keep us posted as your progress or let us know if you have any other questions.

Thanks,

Adam

Documented income is a great tool in getting more doors. If you are using a PM it's even easier. The hardest part is finding deals/areas, but that wouldn't really get any easier with out a job because then you'd have to get creative on financing. 

From one Architect to another, your solution lies with partnerships.  There are three reasons to partner, and one of them is when your partner does something that you "don't want to do".  In this case, you've decided that you "don't want to quit" your job, which means you need to figure out what you "can do", such as be the financial (cash and/or credit) partner, while the other partner does all the rest of the work.  This is the way we do it with a number of "cash/credit" partners we work with.  Many are professionals, like you, that don't want to quit the job they love...they shouldn't have to, and the don't have to.

Originally posted by @Brendan Bruno :

@Joe Villeneuve That's great advice on partnering. I am starting to get connected with other startup investors in my area that I can hopefully joint venture with in the future.

 Think outside of your area too.  There may be, and I know there are, many markets outside of your area that are better for investing.

You just do it on the side and dont quit your job. There really isnt much else. I guess it depends on the scale of the "on the side business" you want. You make systems that run themselves and hire people to do stuff you cant because youre at work. 

I do it on the side but I want out of my job in a few years. Its been great. Yes its a struggle sometimes but like anything that is worth a damn in life, it takes time, commitment, and focus. 100% do-able though. 

It makes a lot of sense to me for you to build a team around you that can help you do what you are trying to do. Find an attorney that will be on your team, an agent, a contractor. 

Better yet, why not try and find a brokerage that can manage the whole process for you? Find a brokerage that can just send you deals and all you have to do is ask them for information and say yes/no. 

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