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.
@Adam Zach very interesting, I have undergraduate degree in Construction Engineering and have quite a bit of commercial construction/contracting experience.
@Brian Goodling I also agree! Add the need to have streamlined processes to execute your business in a profitable way, you’ve got Industrial engineers too, which is my background.
Depends on the engineer. I work in a forensic expert firm as a non-engineer but surrounded by civil and electrical engineers. A lot of them do end up investing in real estate because let's face it, what are they going to spend the money on - wild engineer parties? You know the difference between an introvert and an extrovert engineer. The introvert engineer looks at his shoes while talking to you. The extrovert engineer looks at your shoes while talking to you. It's a crowd that, as an average, generally makes really good money and looks for something to do with it because they don't blow it on stupid stuff.
I work full time as a union carpenter now which has helped me in many different aspects of construction so I am thankful for that but cannot get started in REI soon enough!
As a tax firm specializing in real estate, we see a range of professions, but engineers absolutely comprise a disproportionate section of our clientele.
Mainly software engineers, but also mechanical, chemical, and electrical.
Engineer here as well. Not surprised to see so many engineers in REI - engineers have many key qualities needed to be successful in REI including liking math, working extremely hard, and persevering.
Several of my engineering friends also own various types of real estate investments. We discussed this and concluded that engineering school and project engineering introduces the concept of taking a large problem breaking it into "bite-sized" pieces that can be easily accomplished.
Interesting observation! Now it seems that the amount of money you make drives you to REI and not the passion of numbers! Software engineers make far more money than other engineers, and civil, despite being most relevant, is somewhere down on the salary list.
I'm a civil engineer with interest in REI but little done yet. Several engineer friends and family members already doing this.
I was an industrial engineering consultant for about 10 years. Learned a lot about how people, businesses and processes work!
Now I’m a full time real estate investor.
I can’t speak for others, but for me I think the analytical nature of being an engineer, plus the fact that it set me up fantastically financially, helped me to become a real estate investor.
I have a bachelor's in EE and I'm an controls engineer in industrial automation (robots, PLC's and such). New to REI, but have been educating myself for a year or so and getting ready to buy our first place!
Guilty! I’m a mechanical engineer, hasn’t proved to be too beneficial yet in real estate investing. However, if I put my talents to use in an HVAC related day job that would be awesome for rehabbing!
IT engineer here too. My career forces me to not only understand all the nerdy engineering stuff, but also the business side, and making sure the money i spend brings value to the business. I do beleive in a lot of ways it helps in REI.