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?
Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
6y
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 am a Software Engineer. I just started investing in real estate and have my first rental property cash flowing at $500/month. I am currently looking at wholesaling to build revenue for cash deals in the Minneapolis area.
Rental Property Investor · Minneapolis, MN · Member since 2018 · 22 posts · 13 votes
6y
I'm not sure on the statistics, but I'm a mechanical engineer. I noticed you are from Fargo, I went to NDSU for two years and I bought my first property there, 1.5 blocks from campus in 1998.
Rental Property Investor · Warsaw, IN · Member since 2017 · 3 posts · 19 votes
6y
I've been working as a mechanical engineer in the orthopedic industry for about 10 years. Graduated from Kettering University in Flint, MI. As an engineer, one challenge that I face in real estate is analysis paralysis. There is always more data!
Rental Property Investor · Houston, TX · Member since 2018 · 15 posts · 9 votes
6y
I would say it's less about your background and more about your day job and how it has exposed you, directly or indirectly, to real estate.
I'm a chemical engineer by background which has zero interaction with real estate day to day, but I also moved 6 times for work and as a result have gone through many home inspections, seen what's important in different markets, etc...
As long as you can work effectively with other people and communicate effectively you're going to have a great foundation for real estate investing!
Andy
- on the lookout for cash flowing properties in low crime areas of Houston, San Antonio, & Corpus Christi
I'm a structural engineer and project manager in RI. My first home is an owner occupied 3-family and I couldn't be happier. It also frees up money earned at my day job to think about investing further.
Martinez, GA · Member since 2020 · 8 posts · 4 votes
6y
It's funny that this is the 2nd post that I came across after joining BP. I actually just finished my mechanical engineering program this past May, just in time for COVID-19 to have its way with the job market. I had a job offer to start at the beginning of the summer, but it got pushed back until Aug 3rd. Over the last couple of months, waiting to start my job, I decided to look into various passive income streams, and decided getting into rentals seemed to be the most logical. With that being said, I'm just getting started, trying to learn what I can about the real estate side of things and how to set up a corporate entity to do all of my business under. I look forward to possibly getting to know some of you as my journey progresses.
Investor · Sarasota, FL · Member since 2020 · 12 posts · 11 votes
6y
Add me to the list ! I attended Boston University’s School of Engineering for E.E. I’d like to say that everyday I use atleast one math or science skill I learned.
Investor · Waco, TX · Member since 2015 · 51 posts · 11 votes
6y
@Adam Zach I think the better question is what about engineers make us better investors. My freshman intro to engineering professor once said that an engineering degree is most valuable because it teaches you HOW to learn. I believe this ability and addiction to learning how things work is why engineers are so prevalent in the investing world.
Ever since my senior engineering economics professor introduced me to amortization calculations and when I read read Rich Dad Poor Dad while my college roommate was trying to hookup with the Barnes & Noble barista, I have been hooked on studying and reading about investment strategies.
I built a small portfolio of starter houses and duplexes and in the last year bought a good cash flowing business. Now that my “real job” is gone, I am tooled up with knowledge and enough cash to really dive into the world of full time investing.
I’m trying to buy another high cash flowing business now to replace my engineering income and then will focus on building my rental portfolio.
Civil Engineer from PA here. Posted the thread noted below last week, for all of the Professional Engineers or soon to be @Kirby Logan! Just wondering everyone has used their license to their advantage, in addition to the lessons noted in this post.
Portland, OR · Member since 2020 · 9 posts · 3 votes
6y
Wow! Systems engineer and business wonk. Interested in house hacks and buy-and-holds. Guided by a quixotic vision to create sustainable and respectable housing for all.
Engineering is such a broad term, but I could see how a profession that is focused on planning, problem solving, measurements/math, and building/executing on a service or product would translate well into the world of RE. I'm an IT professional and I also have a background in operations and project management, which I think also lends itself well to being successful in many facets of RE. But, even those folks who are not formally educated can do well as we all have seen - it boils down to "the soft skills" that involve grit, determination, and relentless practice.
I am a control systems programmer working for an electrical engineering firm, I do some engineering and have my EIT certificate. I am about to get into to RE investing with two other friends (research science engineer, and production engineer). I think there is a fare amount of engineers that are into RE investing!!
Rental Property Investor · Concord, CA · Member since 2018 · 23 posts · 9 votes
6y
I'm a Mechanical Engineer (4 years) in Silicon Valley doing out-of-state investing! I've found a lot of success with it and I've actually just started looking for deals locally. I love working as an engineer but I'm learning there are so many benifits through real estate that I'm actually getting my real estate license and potentially changing careers...
I'm happy to see there are like-minded engineers on here as well!
Rental Property Investor · Bay Area, CA · Member since 2020 · 1 post · 2 votes
6y
I have been in construction engineering for most of my career. I think is is a natural transition to move to Real Estate Investing. It only makes sense plus less calculus to figure out!
Interior Decorator · Danville, VA · Member since 2020 · 1 post · 4 votes
6y
Electrical engineer near Danville, VA looking to put that engineer money to work and free up more time for product design, volunteer work, and other start ups.