Rental Property Investor · Fargo, ND · Member since 2016 · 136 posts · 112 votes
Is it just me or are about 25% of all real estate investors, also engineers? As an Engineer myself I could be biased but curious if anyone has insight. I know folks usually have professional background like IT, accounting, dr but would be going out on a limb to say engineers cover the majority of all real estate investors?
I did the eng gig until REI proved to be way more profitable. It's paid off in so many ways allowing me to do 'permitted' electrical (took that minor in elect.), opening & replacing walls with LVL beams, HVAC installs, on-demand HW (elect & NG) etc etc. It's a discipline that opened so many cost saving opportunities & you don't get snowed by contractors, home or building inspectors. Biggest job 'permitted' by my town was the complete design, install & wiring/flow rate monitoring of complete fire sprinkler system for a 6 unit. They allowed me 6 months & did it all myself.
But then again I remember our final exams forbade the use of calculators, slide rules were the only device allowed as were card punched software solutions in our lab finals.
I have worked in IT since 1998 and a network engineer since the early 2000's after being honorably discharged from the Marine Corps. At some point I realized that, while I like what I do, I would never gain time or financial freedom strictly based on my career choice. It was a perfect fit for me because I love math and think logically about most things. I also had to understand some of my weaknesses like design and people skills.
Not an Engineer, but an Architect. My first rehab was extensive and included a dormer addition. It’s nice being able to draw plans for permit and bidding myself.
I am a voice over IP engineer and probably will still be one till either they let me go or retire. But...REI is a way to ensure my wife and I still have passive income after we are done with our careers.
I also find that the skill sets we acquired through our engineering career help us with our REI projects. The problem solving skills and the logical thinking have helped us through some road blocks.
Currently holding two rental units and one almost paid off.. :)
I am a software engineer that looks at everything analytically. I just recently got into REI as a way to diversify my income streams. The hope is to not have to work the day time job forever so I can spend more time doing what I want to do. Looking at making my first purchase on a rental this year.
I am an MEP design engineer in NYC. I've recently purchased my first duplex as a house hack and started my personal real estate investing journey. My undergraduate is in mechanical engineering. I am also in pursuit of my masters degree in mechanical engineering while I work full time as an engineer and house hacking on the side. Trying to figure out deal number 2.
Former accountant turned Software Engineer here! I think a lot of real estate investors are engineers because engineers are paid well enough to be able to invest $20k+ per year into real estate. That is a luxury not enabled by many professions!
@Adam Zach I'm a mechanical engineer and rookie real estate investor. Real estate drew me for a few reasons besides the financial benefits.
I get the numbers. I understand how they work for a single deal and can actually create a plan for how I will grow my business over time using the numbers.
The other major draw was that I have hands on technical skills I can use to fix and renovate things. To me this means a lower bar to entry because I can do a lot of my own work to start and achieve greater returns.
Civil / Enviromental Engineer here. I think folks pointed out we are analytical and want a challenge and many have learned that corporate may not have been the challenge we were looking for / climbing the corporate ladder doesn't seem like the ideal life. The nice income doesn't hurt either.
Data Engineer at Facebook. Great gig, but the draw of financial freedom and building long term wealth with real estate through (1) cash flow, (2) amortization, (3) tax shelter, and (4) appreciation is calling to me. Under contract for three duplexes in Kansas City, Missouri! :-)
I am an industrial automation engineer and love what I do, but I just found that climbing the corporate ladder wasn't as thrilling as building something for your family. I bought my first duplex this year and fixed it up. My wife and I live in one and rent the other. This has reduce our living costs substantially. The day we move out it cash flows so it allows us to take bigger risks in the future.