Rental Property Investor 路 Fargo, ND 路 Member since 2016 路 136 posts 路 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 路 Upstate, NY 路 Member since 2012 路 3k+ posts 路 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.
Homeowner 路 NYC 路 Member since 2019 路 1 post 路 2 votes
6y
I'm a civil engineer by day, working on residential and commercial new development, real estate owner and investor by night. My profession is what led me to REI. I like engineering design but I love real estate, and I don't know if I would have ever found this passion if not for my line of work. My profession has helped tremendously with rehab projects: Contractors can't trick me because I know what needs to be done and ballpark estimates for different tasks, I can pull my own permits because I am the engineer. My wife is an interior designer, together we can't be beat. But overall I would say yes, engineering has given me an advantage as a beginner investor.
Investor 路 Phoenix, AZ 路 Member since 2016 路 1 post 路 0 votes
6y
Degreed Electrical Engineer myself - my Brother and Father are both ME. We rehabbed my a 200+ year old farmhouse when back in PA, but now these tasks are for passive income in AZ.
Rental Property Investor 路 Pittsburgh, PA 路 Member since 2020 路 1 post 路 0 votes
6y
A year from now I will be graduating with my bachelor鈥檚 in manufacturing engineering. It鈥檚 only a matter of time until I can make commercial real estate my full time job!
New to Real Estate 路 Charlotte, NC 路 Member since 2020 路 4 posts 路 4 votes
6y
Real Estate newbie here from SoCal, graduated with a BS in Mechanical Engineering. The end goal for me is to scale large enough to fully transition from W2 to RE. Don鈥檛 see myself spending 20+ years building someone else鈥檚 dream.
In my opinion, I think the discipline I learned from school with paying attention to detail and a strong interest in numbers are characteristics that give me a bit more confidence to succeed in the business.
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.
Rental Property Investor 路 Summerville SC & Fort Worth, TX 路 Member since 2016 路 13 posts 路 3 votes
6y
Electronics Engineer here. I think REI just makes too much since to most of us. We like our careers but being able to exercise that innovative thought pattern to freely think about a project that's personal to us vs a project that's required of us is much more fun and rewarding. And we like to be rewarded!
By the way, I just relocated back to the DFW area of TX. Anyone know what that market is like? What are all the hot areas right now?
Rental Property Investor 路 Orlando, FL 路 Member since 2014 路 540 posts 路 230 votes
6y
Hey Everyone,
I am currently a systems engineer; I graduated with a bachelors in electrical engineering and a masters in systems engineering and now I am leveraging my w2 job to fund my real estate business and effectively replace the w2 income over time.
Real Estate Broker 路 Portland, OR 路 Member since 2019 路 4k+ posts 路 2k+ votes
6y
BS/MS in EE.
Am apartment broker and owner. Nothing wrong with engineers, but sometimes you can over-analyze a property.
However, return and risk are proportional. Engineer's main problem is not being able to make decisions while trying to quantify risk with some certainty.
I wish you could buy a property with ZERO risk, but you can't. To get a good price/deal, you need to make some assumptions on value-add and how it'll affect your future returns.
If you find someone that knows the future 100%, let me know I'd like to ask a couple of questions.
Investor 路 Atlanta, GA 路 Member since 2019 路 40 posts 路 20 votes
6y
@Bernadeau C. Congrats on the Masters in Systems, I've got a BS in EE and I can imagine how tough the Masters was. I, too, am leveraging my W2 to fund my REI efforts
Rental Property Investor 路 Brockton, MA 路 Member since 2017 路 19 posts 路 11 votes
6y
I'm an electrical engineer & Also a real estate investor. From my experience, I have run across quite a few investors that have an engineering background. however, most of them are 10+ years into their career and looking for a way out of the tech industry. Most all of the younger/less experienced engineers are more interested in Stocks.
I do think the logical thinking, ability to solve tough problems , math skills give engineers a slight edge in much of the investing process. Most engineer investors I know are also big time DIYers, and that can be a gift and a curse. Now dealing with people (Contractors, tenants, etc...) that's another story. lol.
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?
Investor 路 Atlanta, GA 路 Member since 2019 路 40 posts 路 20 votes
6y
I feel that being an engineer has probably caused me to overanalyze things thus far a lot more than necessary. I'm sure that won't always be the case but analysis paralysis can definitely be a side effect.
Flipper/Rehabber 路 Member since 2019 路 22 posts 路 18 votes
6y
Also guilty. I am former manufacturing engineer who crossed over to the dark side-otherwise known as operations management. I just started in REI last year and I'm working on my first flip. Its not so much a numbers thing for me. I just love the challenge!
Rental Property Investor 路 Dallas, TX 路 Member since 2017 路 8 posts 路 5 votes
6y
@Adam Zach
I am a New investor , and I currently work as a civil engineer in Dallas,Tx. I love engineering. However , I love the thought of having freedom and wealth, which will come through real estate investing !
Rental Property Investor 路 Dallas, TX 路 Member since 2017 路 8 posts 路 5 votes
6y
@Brian Goodling
Great Response ! You hit the target dead eye. I am also a civil engineer in Dallas and can definitely relate to all you stated.
Being a great person with numbers ways a lot when I comes to deal analysis. I feel having this analytical background will prove to be a great tool as a investor.