"Career" options for a young investor

18 Replies

I have 3 units under my belt as of now and all are cash-flowing pretty well, but I am still stuck in my dead end 8-4 job and I need out! I have put up with it long enough to get me where I am now but it's mentally draining me. I thoroughly enjoy everything I've done with real estate and learning as much as I can. I've decided that I want to peruse a career where I can adapt what I learn on the job to my own properties and need some help where to start looking. Aside from a real estate agent and mortgage broker, what are some jobs I should look into?

Before you quit your day job make sure you have 1.5 times the cash flow coming in from your rental business before you walk away.  Are you financing your properties using 20% down bank financing?  If you are I would get as many loans as you can bc once you change careers it will be harder for you to get financing, possibly have to wait 2yrs to get another loan. 

Good luck

There is an author by the name of Bryan Wittenmyer.

Here is a table of contents of one of his books - A Real Estate Oriented Business

Chapter 1 The High Profit World of Real Estate………………… 1

Why Real Estate……………………………………………………….. 1

High Profits/Types of Profit…………………………………………… 3

Profit Potential………………………………………………………… 4

People Always Need Shelter………………………………………….. 5

More Reasons for Real Estate………………………………………… 6

Service Businesses and Investments………………………………….. 8

Tax Advantages……………………………………………………….. 9

Passive Income………………………………………………………… 10

Real Estate Lifestyle…………………………………………………... 10

What You Will Learn from this Book………………………………… 11

Chapter 2 How to Start a High Profit Business with Very Little Cash 14

2 Types of Opportunities in Real Estate………………………………. 15

Investment Options/Models…………………………………………… 16

What Very Little Cash Means…………………………………………. 17

The Guerilla Operator…………………………………………………. 17

Don't Quit Your Day Job…Yet………………………………………... 19

Your Job as a Stepping Stone…………………………………………. 19

Rules, Tips, and Strategy for Low-Cash Start-Ups……………………. 20

No Employees…………………………………………………………. 20

No Storefront or Rented Offices………………………………………. 21

No Partners…………………………………………………………….. 21

Invest in Communications……………………………………………... 22

No Inventory…………………………………………………………... 23

You Don't Need to be Fancy…………………………………………… 23

Hack Away Expenses…………………………………………………. 24

Money Saving Resources……………………………………………… 24

You are the Marketing Specialist……………………………………… 25

Business IS marketing…………………………………………………. 25

Why a Conservative Lifestyle…………………………………………. 26

Using Sweat to Build Equity…………………………………………... 26

Go Heavy on Image…………………………………………………… 27

Concept Summary……………………………………………………... 29

Chapter 3 The New Extreme Business Model………………….…. 30

Why You Must Change………………………………………………... 30

The Forces of Change…………………………………………………. 30

The New Expense Paradigm…………………………………………... 32

The New Payroll Paradigm……………………………………………. 33

Outsourcing Work……………………………………………………... 34

Finding Self-Employed Specialists……………………………………. 35

Guidelines for Establishing Independent Contractors Relationships….. 35

Fully Exploiting Technology………………………………………….. 35

Invest in Great Tools…………………………………………………... 36

The Accessibility Rule………………………………………………… 36

The Telephone Rule…………………………………………………… 37

Advanced Tools……………………………………………………….. 38

Real Estate Software Source…………………………………………... 39

Rehab Tools…………………………………………………………… 39

The Home Office Trend……………………………………………….. 40

Where to Meet Clients and Prospects…………………………………. 41

Extreme Office Leverage……………………………………………… 41

They Are Not Customers……………………………………………… 42

More Extreme Rules…………………………………………………... 42

Become a Niche Market Specialist……………………………………. 44

Build a Business Within a Business…………………………………… 45

Co-opetition—The New Buzzword…………………………………… 46

Informational Leverage………………………………………………... 48

Performance Pay Works………………………………………………. 48

Strategic Smallness……………………………………………………. 49

Concept Summary…………………………………………………….. 50

Section Two--Business Opportunity How to Directory……………. 51

How to Use this Section……………………………………………….. 51

Chapter 4 Real Estate Investor Services………………………….. 53

Apartment Preparation Services………………………………………. 53

The A.P. Service in Detail…………………………………………….. 55

Pricing and Presenting A.P. Services………………………………….. 56

New Construction Cleanup Services………………………………….. 57

The A.P. Revenue Stream……………………………………………... 58

Marketing A.P. Services to Investors…………………………………. 58

Apartment Prep. Tools and Supplies………………………………….. 60

REO Services Business Model………………………………………… 61

Additional REO Profit Centers………………………………………... 63

Marketing REO Services……………………………………………… 64

Tenant Investigation and Eviction Services…………………………… 65

The T.I. and Eviction Service Business Model………………………... 65

Pricing Tenant Screening Services……………………………………. 66

Eviction Services……………………………………………………… 66

Self-Help Law Resources……………………………………………... 67

Learning the Eviction Process…………………………………………. 67

Additional Profit Centers……………………………………………… 68

Marketing T.I. Services……………………………………………….. 69

Tools, Technology Resources for Tenant Screening Services………… 69

The Property Management Business………………………………….. 70

Do You Need a Real Estate License…………………………………... 72

The Management Business Model…………………………………….. 74

Pricing and Fees for P.M. ……………………………………………... 74

Marketing and Finding Investor Clients………………………………. 75

Additional Management Profit Centers………………………………..76

Licensing Issues and Management Options…………………………… 76

Potential Licensing Loopholes and Alternatives……………………… 77

Understanding Buildings for Effective Management…………………. 82

Land Trust Trustee Business………………………………………….. 83

The Trustee Services Business Model………………………………… 84

Pricing L.T. Services…………………………………………………... 85

Potential Trustee Liability…………………………………………….. 86

Additional L.T. Profit Centers………………………………………… 87

The 1031 Tax Deferred Exchange Service……………………………. 87

The 1031 Service Business Model…………………………………….. 88

Skills and Tools for 1031 Services……………………………………. 88

Marketing Strategy for 1031 Services………………………………… 89

Resources for 1031 Services…………………………………………... 90

Chapter 5 The Real Estate Buy-Sell Business…………………….. 91

Profit Potentials………………………………………………………... 91

The 3 Big Buy-Sell Opportunities…………………………………….. 92

The Rehab Business Model…………………………………………… 92

7 Hot Tips for Buying and Selling……………………………………. 95

Finding Motivated Sellers…………………………………………….. 96

Advertising and Marketing for Buying………………………………... 97

Classified Ads and Signs……………………………………………… 99

How to Finance the Deal……………………………………………… 101

Option It……………………………………………………………….. 101

Owner Finance Technique…………………………………………….. 103

More Owner Financing Tips…………………………………………... 104

Leverage the Existing Financing……………………………………… 105

Using Existing Financing/Structuring Offers…………………………. 107

Power Buying With All Cash…………………………………………. 108

Private Lenders………………………………………………………… 109

Avoid the Professional Contractor…………………………………….. 110

Rehabbing Yourself…………………………………………………… 111

Estimating Deals with a P&L Statement………………………………. 112

Buy-Sell Resources……………………………………………………. 113

The Buy-Low Sell-Low Business……………………………………... 114

The Wholesaling Business Model……………………………………... 114

Pricing Wholesale Deals………………………………………………. 115

Wholesale Fees/Profits………………………………………………… 116

Additional Wholesale Profit Centers………………………………….. 116

Marketing Strategy for Wholesaling…………………………………... 117

Funding Wholesale Flips……………………………………………… 118

Assigning Contracts…………………………………………………… 119

Preparing Property for Wholesale Market…………………………….. 119

The Buy-Sell Installment Contract Business………………………….. 120

The Contract Business Model…………………………………………. 121

The Advantages of Installment Contract Sales………………………... 122

Buyer/Client Profiles and Guidelines…………………………………. 123

Installment Selling Tools and Contracts………………………………. 124

Cautions for Installment Sellers………………………………………. 125

Wraps………………………………………………………………….. 126

Four Selling Strategies………………………………………………… 126

The Best Contracts…………………………………………………….. 131

Profit Centers in the I.S. Contract Business…………………………… 132

Buying Strategies for Good Contract Re-sales………………………… 134

Pitfalls and Installment Issues…………………………………………. 135

Installment Deal Summary/Resources………………………………… 137

Chapter 6 The Home Inspection Business………………………… 138

The H.I. Business Model……………………………………………… 138

The Inspection Survey………………………………………………… 139

H.I. Earning Potential…………………………………………………. 140

Additional Profit Centers in H.I. ……………………………………… 140

Skills and Training Needed in H.I. Business…………………………. 140

Training Resources……………………………………………………. 141

Marketing H.I. Business………………………………………………. 142

H.I. Tools and Equipment……………………………………………… 143

Liability and Pitfalls in H.I. …………………………………………… 144

Why You Need a Pre-Inspection Contract…………………………….. 144

Resource for H.I. Business…………………………………………….. 144

Chapter 7 Real Estate Sales………………………………………… 145

Sales/Brokerage Business Model……………………………………… 145

Cutting Your Teeth as an Agent……………………………………….. 146

The Big Money Listing Property………………….…………………... 147

Advantages of Real Estate Sales………………….…………………… 147

The Old Way………………….………………….……………………. 148

The New Mentality………………….………………….……………... 148

Skills, Tools, Technology for Agents…………………………………. 149

Agent Team Concepts………………….……………………………… 150

Agent Tools………………….………………….……………………... 151

Why Agents Must Use the Net………………………………………… 152

Increasing Your Competency………………….………………………. 153

Strategies for Finding Listings………………….……………………... 153

The World's Most Powerful Prospecting Tool………………………… 154

The Seminar Strategy………………….………………………………. 156

Strategies for Finding Buyers………………….……………………… 156

The Trick About Classified Ads………………….…………………… 156

Mastering First Time Buyer's Programs………………………………. 157

Using Free Market Valuations………………….……………………… 158

Audio Brochures………………….………………….………………… 158

Trends in Real Estate Brokerage………………….…………………… 159

MLS is No Longer King………………….…………………………… 160

Agent Forms and Documents………………….………………………. 161

Handling Over-Priced Listings………………….…………………….. 161

Dare to be Different………………….………………….…………….. 162

Building Your Contact Database………………….…………………… 163

Open House Parties………………….………………………………… 163

The Hardest Year………………….………………….……………….. 164

Brokerage/Agent Resources………………….………………………... 164

Chapter 8 Real Estate Publishing Opportunities………………… 164

The Publishing Business Model………………….……………………. 166

Publishing Tools and Skills………………….………………………... 167

Information Publishing Ideas………………….………………………. 168

FSBO Books and Products………………….…………………………. 168

Real Estate Newsletters………………….…………………………….. 169

Newsletter Problems………………….……………………………….. 170

The 21st Century Newsletter………………….……………………….. 171

Newsletter Advantages………………….…………………………….. 172

Real Estate Book Review Club………………….…………………….. 172

State Specific Landlording Manuals………………….……………….. 173

Web Publishing………………….………………….…………………. 173

Speaking and Seminar Opportunities………………………………….. 174

Home Buyers Monthly Guide………………….……………………… 175

Publishing Resources………………….………………………………. 176

Chapter 9 Opportunities in Real Estate Paper…………………… 177

Mortgage Brokering………………….………………………………... 177

Mortgage Brokering Business Model…………………………………. 178

Mortgage Broker Fees………………….……………………………… 179

Various M.B. Profit Centers………………….……………………….. 179

Types of M.B. Opportunities………………….………………………. 180

Mortgage Licensing Requirements………………….…………………. 181

Tools, Skills, and Education………………….……………………….. 183

The Financial Calculator………………….…………………………… 183

Dress Tools………………….………………….……………………… 184

Building Lending Relationships………………….……………………. 184

Marketing Strategy for M.B. ………………….………………………. 185

The Internet Challenge………………….……………………………... 186

Mortgage Brokerage Resources and Contacts………………………… 187

The Judgment Recovery Business………………….…………………. 187

J. R. Business Model………………….……………………………….. 188

The Nature of Judgments………………….…………………………… 190

Two Big Judgment Opportunities………………….………………….. 191

The Dirty Little Secrets About Judgments…………………………….. 191

The Recovery Process………………….……………………………… 192

The Buy and Wait Approach………………….……………………….. 193

Staying in the Payment Loop………………….………………………. 194

Tools and Skills for J.R. ………………….…………………………… 194

Marketing Strategy for Judgment Business………………….………… 195

Top 3 Questions About Judgments………………….…………………. 196

Judgment Pitfalls and Questions………………….…………………… 196

Additional Judgment Profit Centers………………….……………….. 197

Resources and Contacts for J.R. ………………….…………………… 198

Why Notes are Discounted………………….…………………………. 199

The Note Business Model………………….………………………….. 200

Buying Notes with 100% Financing………………….……………….. 202

High Yields with Partials………………….…………………………... 203

Risk Analysis and Grading………………….………………………… 204

Note Investor's Golden Rules 1&2…………………………………….. 205

Hidden Profit Centers in Notes………………….…………………….. 205

Getting Note Offers Accepted………………….……………………… 206

Profits with Bad Notes………………….……………………………… 206

Tools and Technical Support………………….………………………. 207

Marketing for Notes………………….………………………………... 208

Additional Profit Centers and Complementary Biz's………………….. 209

Pitfalls and Note Cautions………………….…………………………. 209

Note Investing Drawbacks………………….…………………………. 210

Note Resources and Contacts………………….………………………. 211

Discounted Note Brokerage………………….………………………... 212

Assignability………………….………………….……………………. 211

Note Brokerage Model………………….……………………………... 214

Alternate Cash Flow Vehicles………………….……………………… 215

Tools, Funding Sources, and Skills………………….………………… 215

Note Brokerage Marketing Strategy.………………………………….. 216

Advertising and Direct Mail for Notes………………………………… 218

Putting Note Deals Together………………….……………………….. 219

The Note Closing………………….………………….……………….. 219

Additional Note Brokerage Profit Centers………………….………… 220

Drawbacks to Note Brokerage………………….……………………... 220

N.B. Resources………………….………………….………………….. 221

Chapter 10 The Independent Title Examiner…………………….. 222

The Title Searcher Business Model…………………………………… 222

How a Title Search is Performed………………….…………………… 223

Searcher Fees and Income Potential…………………………………… 225

Additional Profit Centers in Title Searching…………………………... 225

Skills and Tools for Searchers………………….……………………… 226

Chapter 11 Income Property: Professional Landlording……….. 228

Why Many Have Low Opinion of Rental Property…………………… 228

The Unique Nature of Rental Assets………………………………….. 229

Adding up the Benefits………………….…………………………….. 233

The Nasty Management Factor………………….…………………….. 233

Uncommon Freedom………………….………………………………. 234

Rental Income Business Model………………….……………………. 234

The Ultimate Goal of Investors………………….…………………….. 236

Diverse Rental Markets………………….…………………………….. 236

Multi-Unit Advantages………………….…………………………….. 237

SFH Advantages………………….…………………………………… 238

Best Building Size………………….………………………………….. 240

Opportunities in Low-Income Housing………………….……………. 241

Low Income Housing Rules and Tips…………………………………. 242

Summary of Low-Income Investments………………………………… 243

Rooming House Money Machine……………………………………… 244

Rooming House Myths………………….…………………………….. 245

Finding a R. H. ………………….…………………………………….. 246

Managing R.H. ………………….………………….…………………. 246

R.H. Rules………………….………………….………………………. 247

Advertising Rooms………………….…………………………………. 248

Executive Apartment Services………………….……………………... 249

Insurance Company Rentals………………….………………………... 250

Opportunities with Handicapped Units………………………………... 250

Storage Space Rental Opportunities…………………………………… 251

Advantages of Storage Space………………….………………………. 252

Tools for Income Property………………….…………………………. 253

The Repair-Maintenance Question…………………………………….. 254

Rentals: Full or Part-Time………………….………………………….. 256

Management Skills………………….………………….……………… 256

10-Day Notice Rule………………….………………………………… 258

Rental Buying Secrets………………….……………………………… 259

Rental Resources………………….…………………………………… 261

Master Leasing Income Property………………….…………………… 262

Master Lease Business Models………………….…………………….. 263

Terms of Master Lease………………….……………………………... 265

Chapter 12 Opportunities with Mobile Homes…………………… 267

Two Big Opportunities in Mobile Homes…………………………….. 268

Mobile Home Business Model………………….……………………... 269

Buy-Sell Finance Used Homes………………….…………………….. 269

Control Problems………………….…………………………………… 271

M. H. Park Investments………………….…………………………….. 271

M. H. Park Strategy………………….………………………………… 272

Abandoned Home Pitfall………………….…………………………… 273

Guidelines for Flipping Used Homes…………………………………. 274

Renting Mobile Homes………………….…………………………….. 276

Additional Park Profit Centers………………….……………………... 277

M.H. Resources………………….……………………………………. 278

Chapter 13 Real Estate Consulting………………….……………… 279

What is Consulting………………….…………………………………. 279

Six Consulting Opportunities………………….………………………. 280

Consulting Tools………………….…………………………………… 281

How Consultants are Paid………………….………………………….. 282

Real Estate Agent Marketing Consulting……………………………… 283

Differentiation Process………………….……………………………... 285

Marketplace Domination………………….…………………………… 285

Headlines, Advertising, Agent Marketing……………………………... 286

Create Market Territories………………….…………………………... 288

Real Estate Coupon Consulting………………….……………………. 286

Coupon Consulting Model………………….…………………………. 289

Foreclosure Consulting………………….…………………………….. 292

The Foreclosure Consulting Model………………….………………… 293

Client/Mediator Contract………………….…………………………... 294

Additional Foreclosure Consulting Profit Centers…………………….. 295

Licensing Laws………………….…………………………………….. 295

The Many Delinquent Mortgage Options……………………………... 296

Advertising for Foreclosure Clients…………………………………… 300

F.C. Resources………………….………………….………………….. 301

Rental Cash Flow Consulting.………………….……………………… 302

R.C.C. Model………………….………………….…………………… 302

Conducting a C.F. Consultation………………….……………………. 303

Consultation Step-by-Step………………….…………………………. 304

Keys to Consultation Success………………….……………………… 307

C.F. Consultant's Work Agreement………………….………………... 308

Fee Structures in C.F. Consulting………………….………………….. 308

C.F.C. Marketing Strategy………………….…………………………. 308

Property Tax Consulting………………….…………………………… 309

The Property Tax Consulting Model………………….………………. 309

Tax Reduction Process………………….……………………………... 310

Property Tax Case Documentation………………….…………………. 311

Resources and Tools for Tax Consulting……………………………… 312

Lease Option Consulting………………….…………………………… 312

L/O Business Model………………….………………………………... 313

The Licensee Approach………………….……………………………. 313

The L/O Investor Approach………………….………………………... 314

Rating the L/O Tool………………….………………………………… 315

L/O Concepts………………….………………………………………. 315

Investor Assignment Technique………………….……………………. 316

Lease Option Pitfalls………………….……………………………….. 316

Chapter 14 Making Money with Land……………………………… 318

The Land Business Model………………….…………………………. 318

Land as an Investment………………….……………………………… 319

Raw Land ROI Rule………………….………………………………... 319

The Advantages of Land………………….…………………………… 320

Cellular Phone Tower Leases………………….……………………… 320

C.P.T. Lease Terms………………….………………………………… 321

Billboard Land Rentals………………….…………………………….. 322

Flea Markets, Parking Lots………………….………………………… 322

RV Storage………………….………………….……………………… 323

Recreational Land Opportunities………………….…………………… 323

Junk Land Strategy………………….………………………………… 324

Junk Lot Tips………………….………………….……………………. 325

Profits Subdividing Land………………….…………………………… 326

Country Land Strategy and Tips………………….…………………… 326

Cash Flow from Trees………………….……………………………… 328

Firewood Profits………………….………………….………………… 328

Tree Farming………………….………………….……………………. 329

Section 3 Nuts and Bolts of Running Your R.E. Business……….. 330

Chapter 15 Design Your Company Name/Image…………………. 330

You are the Brand………………….………………………………….. 331

Should You Use Your Own Name…………………………………….. 333

Creating a Unique Marketing Phrase………………….………………. 334

Create a Business Logo………………….……………………………. 334

Chapter 16 Street Smart Business Tips, Rules and Success Secrets 336

Disinformation Dangers………………….……………………………. 336

People Exaggerate Problems………………….……………………….. 337

Competitor Disinformation Tactics………………….………………… 337

Be Careful of "Experts"………………….……………………………. 338

Who Should You Listen to………………….…………………………. 339

Specialize Only to a Point………………….………………………….. 339

Weeds in Your Business Garden………………….…………………… 340

Develop Problem Solving Mentality…………………………………... 341

Exploit Your Unique Business Advantage……………………………. 342

Competitor Surveillance………………….…………………………… 343

Join Associations………………….…………………………………… 344

Use Systems, Policies, Checklists, Forms…………………………….. 345

Chapter 17 Select the Right Business Form………………………. 347

The Four Main Structures………………….………………………….. 347

What is the Best Entity Choice………………….…………………….. 350

Create a Fictitious Name………………….…………………………… 350

Landlording and Entities………………….…………………………… 351

Chapter 18 Shrewd Marketing Secrets………………….………... 352

Marketing Rules #1, #2………………….&he

Become a Realtor/Investor. Also Brian's Idea about the book Rocks.

Originally posted by @Brian Gibbons :

There is an author by the name of Bryan Wittenmyer.

Did you type all that? You should probably be fined for posting something that takes 3 minutes to scroll down....and back up again! :)

Who is this Bryan?

One guy advising on this wide variety of topics, makes me wonder how expert the advise may be, just wondering, not impossible, but certainly wondering.

I see he touched on your area Brian, so what did you get out of it and how does that tie in to the OP's quest?

@Bill Gulley  

What is your advice to people that want to escape the 9-5?  The "cubicle"?  They dream of a better life in RE.

Ever see the movie "Office Space?"

https://www.youtube.com/watch?v=dMIrlP61Z9s

My advice is get a real estate oriented small business on the side or a paying W-2 job like some of the ideas above.

What is your advice?

@Michael McDermott  

Consider going to work in property management, especially for a company where the owner is also an investor.

You will learn a great deal about acquisition, rehab, maintenance, management, and disposition of investment properties. You will also gain insight into what others are investing in and the returns that they are seeing.

Well, Michael, what do you do now in that 9-4 job? What's your education to date? You're not a kid out of high school, you have some experience so most moving into another career consider where they are at in education and experience,

Experience in something doesn't mean you need to stay in that industry, but experiences, all kinds adapt well to RE and affiliated businesses.

So, me just picking out something and suggesting what you ought to do for the rest of your working life isn't going to be good advice.

You can make a million or two with a trash collect service, or in developments, notes, just about anything, but what are you good at and what do you enjoy. Why do you think playing in dirt would make you happier and better off? :)

@Bill Gulley  Its exactly why I asked, just to gauge peoples opinions and experiences and weigh them out for myself.

I am a college graduate with a degree in marketing and I enjoy everything I have done to date with real estate research, transactions and marketing properties. I believe I excel at networking with people and helping those who need the most help.

Originally posted by @Michael McDermott :

@Bill Gulley  That was a lot to type, but I will look into that book none the less.

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Ah, marketing, the art of deception! LOL

Degreed, I think you'll do just fine.

There are other careers in the financial arena that go hand in glove to real estate. RE is under the financial industry umbrella in commerce.

An insurance agent is pretty easy to start out in and large companies pay a salary, then a drawing out of a pot type arrangement that gives you a living. The paycheck also helps at the bank getting loans! I had done some RE deals in the Army, but when I got out I "started" in insurance with a sideline small business consultation. A RE broker in town had  an insurance and RE office, both services under one roof.

Not pushing insurance, but;

A company, one of the big 3 for example, has excellent schooling for property & casualty agents, you'll get drilled in business law, torts, liability, risk assessments, neighborhood valuations, title matters pertaining to insurable interests, contracting, labor exposures, workman's comp will be touched on again from the health insurance side.

I'd have to say that insurance companies probably have the best training in salesmanship techniques on the planet, they sell an intangible product that can't be touched, smelled or tasted, just a promise to perform. You can appreciate that from your perspective in marketing. This makes moving to RE a snap, much of the same areas of motivation are applicable in RE. Besides, homes sell themselves, you just sell the dream!

You like networking....you'll be networking in insurance!

You're usually dealing with homeowners or property owners, residential and commercial. You're already in a position of confidence, getting a pay check and advising others, moving them from an insurance matter to a RE matter is pretty quick as going directly to valuation of a property, for example, is right down the insurance alley.

Being with Met, Prudential, Hartford, or a few others adds instant credibility. Insurance agents on the average are better perceived by the public than a real estate agent, a survey here the RE agents ranked below used car dealers!

I don't know of a good ins. agent/broker here that doesn't invest in RE, there's a reason and part of that is the exposure they have in the RE market, every time you go to closing you'll have an insurance binder/policy.

Brian mention financial planners (again, mostly Ins types) that too is related, but with less exposure to RE.

The issue with other related jobs, title clerk, closing agent, survey crew or construction crew is that the pay sucks! You'd be working below your achieved level as to education and experience. If you have a skill, you're the best finish carpenter in town, that is different.

Go to an RE company as an agent, that will put you on the battlefield in the trenches, but as you know, it's commission. If you know 100 people you can call and say I'm in RE now, do you know anyone that...., then you will have a good start. RE is a people business!

There are other areas, engineering, developer, RE portfolio management areas, but they require time and deep pockets in some cases to make money.

Last suggestion is the Big Daddy, go back to law school, don't chase ambulances but specialize in RE and mortgage law, if you're entrepreneurial you'll be rich enough. RE is all about law.

I moved from corporate insurance to government insurance, FDIC examiner, then to lending and brokerage operations while devising deals and solving problems in RE and doing my own thing. No complaints! :)

          

@Nate Garrett  That sounds exactly like what I would like to be doing! How would I go about searching/finding jobs like that where the investor is the owner of the company and would want to take me under his wing?

@Michael McDermott  

Do a google search for "property management Philadelphia" and start browsing websites. Companies that have a position open will most likely advertise it on their website. Or you can simply call them and ask if they are looking to hire in the near future. You can also try the major job sites like Indeed, Monster, etc.

Most likely you would be starting in a leasing or assistant property manager role. For residential property management positions, these jobs will probably start at $35 - $45k / year, depending on education, experience, location, etc. I would expect the Philly area to be closer to the higher end because of the cost of living.

Entry level commercial real estate positions will probably start out a bit higher but also will be more competitive.

Consider getting your RE license out of the way to make yourself more competitive.

You probably won't find out if the principals of the company actively invest in RE themselves until the interview process, but you may get clues from the bios on their website or by doing a bit of digging.

The owner of the company will invest in you if he or she sees a benefit to the company. Take your time to find a company that has a bright future and provides opportunity for growth. Once you find the right one, focus on what you can offer the company more than what they can offer you. If you're working for the right company they will reward your efforts handsomely. 

Hi Michael, Best of luck with finding a job in the RE-related market. Like you, I own a property but am also looking to get out my dead-end corporate job and find another job more closely tied to RE so that I can gain additional experience and knowledge.

Hey @Michael McDermott  that's an awesome question. Considering your background in marketing and your passion for networking and helping people maybe you should consider getting licensed as a realtor. There are many niches you can specialize in with a license and there's certainly a wealth of information to be learned both in the process of getting a license and in the field as an agent. I believe in most states you're required to have a license to be a property manager too, so it could be a great transition into property management if that's also something that you're interested in. Good luck!

Hi Michael, 

I read your post and I am doing exactly what you are thinking about doing.   I have 4 more weeks at my 9-5 job, sitting in a cubicle and hating every minute of it.  I own 1 rental and want to obtain more in the near future.

I was just licensed as a realtor and joined a brokerage and start next month.  I have saving so I am not worried about not getting paid, I just want to learn the system and be on the ground floor so I can find my niche, which will hopefully lead me to investing full time.

I am looking at becoming a full time investor but at age 35 with one rental, I have a lot to learn.  But that's why I am here.

Good luck man!

I was a Realtor and thought that was beneficial. As I'm growing the number of rentals I have now, I would have liked some background at a property management company. Realtor helped to understand how RE transactions work, valuations, etc. But nothing on the actual management of the property. That's where I'd think some sort of office position at a property management company would be helpful. 

There also could be some larger housing developers in the area that might need help in the marketing area, and could utilize your degree, as well as give you some RE knowledge.

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