Relocating from Houston to Denver....advice?

Question

Hello All,

New to the BiggerPockets site and real estate investing.  Graduated last August with Finance Degree and went into oil and gas.  After only 6 months, I was laid off.

Now I am relocating to the Denver area and have developed a great interest in real estate.  I know what the potentials are for this industry and want to be a part of it.

I want to begin my transition into this area by starting a career in a real estate focused job that can provide a decent steady income while I begin to build assets.  Seeking advice from anyone in the community to help me on my way.  Thank you all in advance for your responses.

Michael DeFrancesco · Answer

@Matt M., thats a rough start to real estate.  Guessing you recovered well?  Thanks for reaching out.

I was thinking going the corporate route.  Something along the lines of real estate analyst or even banking.   I understand CBRE is good place to be.  I feel as though several different Financial Analyst jobs would be a good place to start.  Anything focused on cash flows and financial modeling and analysis I feel would be a good place to start.  Just have to provide a steady income for my family and prefer to build on skills that will help me build a solid portfolio.

@Steven Butala and @Ayodeji Kuponiyi, thank you.  I plan to take full advantage of all the resources available in this awesome community.

Michael DeFrancesco · Answer

@Jonathan Harris Thank you! I will definitely look into the BP meetups.  Always willing to meet new faces and gain some knowledge.  Maybe I'll run into you at one of them.

Michael DeFrancesco · Answer

@Nick Sabat thank you for welcoming me into BP.  Not really too upset about losing my job.  That experience led me to the opportunity of reaching out, meeting people, gaining new interests, and motivating me to move half way across the country.

I have found that reading is the best way to go with everything. You are what you read.  This will be where my journey begins.

You are right on the building of assets.  To begin with I am only interested in rental property.  Maybe as time progresses and I learn the in's and out's of real estate that may change, but for now just focusing on building rental assets.

Thanks again for your response.

Nick Sabat · Answer

@Michael DeFrancesco first welcome to BP. Secondly, sorry to hear of your loss of employment.

Nice to know you were able to secure an education - finance can bring you into any area of Real Estate - I would imagine. Analysis, Brokerage, Appraising, in-house accounting.

I would imagine the question of what area you have been looking into, has been asked in a couple ways, already. I see you are interested in investing and I'm guessing that this is the route you wanna go - cool.

As with your oil and gas education, you learned the specifics of the field. As with this, there are many specifics to familiarize yourself with. You took the first step - you looked into it and found this site - you joined and asked questions - cool! Again, it all depends on the specific area you wanna get involved with - someone said Read, Read, Read - not a bad idea.

Now, here is the ticket - interest! As long as you are interested in whatever you do - you will get the most out of it - as an aside of your education, you already got a leg up on decision-making - keep the bad decision making to a minimal and I think you will do fine.

Building Assets comes as you move along - if you mean by building assets, keeping them rather than doing flips - then some suggest you start with multi-level dwellings and others suggest single family - others may suggest Commercial Properties - only you can decide where you really wanna start - in any event - Best of Luck To You!

Jonathan Harris · Answer

Welcome to BP and to Denver. It's a great place to live and work. When you get here check other one of the BP meetups, I went to my first last month and it was full of good people all interested in RE.

Michael DeFrancesco · Answer

@Joshua Meyers Thank you!  I would really like to meet up.  Don't know too many folks in the area, so always open to meeting new faces.

I can't wait to get up to the area.  All goes well I should have some interviews in the area in the next few weeks.....so hopefully not too far off from the move.

Ayodeji Kuponiyi · Answer

@Michael DeFrancesco welcome to BP! Best/first thing to do is get educated. Read read read! Read books on investing in real estate, listen to the podcasts, attend webinars and stay active on the forums while connecting with other investors in your area and pick a niche. Best of luck!

Jack Butala · Answer

Hello @Michael DeFrancesco and welcome to BP. BP is a great place for new real estate investors. At BP, you can watch and learn from the free online courses and videos from this site. BP also offers it's own podcast in itunes for you to listen to as well. Welcome to BP and I wish you all the best.

Matt M. · Answer

My undergrad is in finance and real estate. I graduated right as the downturn was hitting more or less and got laid off 4 times in 2008... Anyways what are you looking to do? Go the corporate route in this arena? Get a real estate license, or???