All Forum Posts by: Jason Hsun

Hey everyone! You are my people!! Looks like this thread went quiet for a while, but getting some traction so I'll chime in too. I'm an Interior Designer out of Phoenix, AZ - have been working in the commercial design field for over 14 years at a few different architecture firms. @Ali Altieri - glad to see you representing Interiors on the forum too!  I have been reading BP posts and educating myself on RE investing for some time - although my attention toward making progress on my RE investing goals seems to vary greatly depending on how busy I am with work. I am currently a homeowner, looking to make some small but strategic improvements on my own home to increase equity, and then hoping to tap into that equity to purchase of a rental property (or two!) before the end of 2020. 

I have a few different theories as to why there might be a low representation of A&D professionals in RE investing:

1) TIME / Maybe it's because we are ALWAYS on a deadline (or multiple deadlines), while trying to balance the industry's cultural expectation that "overtime is a necessary evil to create great work" (while, you know, also being unpaid)...by the numbers, it simply leaves fewer hours in the day to pursue other things on the side, especially if you have other responsibilities like kids/family. Although I realize this is not impossible to overcome if you're game to hustle hard, it's just one possible hypothesis. 

2) INCOME / Additionally, I agree with others on the forum that it could be a result of low wages. Unfortunately, the highest density of jobs for A&D pros are also generally in cities with a high cost of living, with a pretty negligible increase in salary to address the higher costs. Certainly there are jobs in smaller cities with a  lower cost of living, they're just harder to come by.  I have seen so many young designers and architects barely scraping by to make enough for daily expenses, much less to save for a future investment opportunity. It takes real will-power and focus to keep to a strict budget for a goal that seems so unattainable when you've only got two nickels to rub together at the end of each month. I've been at this 14 years and just recently started feeling like I could relax a bit with my aggressive budgeting and start pursuing some diversity in my investing.

3) REDUCED VOLUME OF A&D PROS / The last hypothesis I will offer is the big gaping hole of talent that left during the last recession in 2008-2011. Designers and Architects in all experience levels just felt this business just wasn't resilient enough in hard times and chose to pursue a different profession entirely.  I'll be the first to say that was probably a smart move on their part, although I don't regret staying in the biz myself. I have found my work in the public sector to be incredibly rewarding over the years! 

Ultimately it's probably some combination of the three above.  I have definitely been sharing the BP network, and what little RE investing knowledge I have, with my colleagues as well.  I hope it piques their curiosity to pursue RE investing and diversify their income streams to weather the storm of any future recession/job loss in the future. 

Hey @Jason Hsun joining this conversation late, but becoming an architect is something that takes enough time an effort that it usually weeds out those that aren’t full in it for the love of architecture.  I am 12 years in now, and though I agree there are better professions to make money, there aren’t many that allow you to use such a broad range of skills and manage a large group of talented individuals... but then I came across real estate investing... Though the design aspect is limited, the coordination and management of many moving parts and a skilled team is very similar.  I’ve always been more interested in the management and business side of the architecture profession which I guess naturally pulled me towards investing.  I am just starting out but have been studying diligently, making connections and preparing financial to  posture myself to get off to the races! Playing it patiently right now though until we start seeing how the economy plays out with unemployment, election and “the virus”.  Hoping for some good opportunities ahead!  
Thanks for posting this, great conversation!  And for the recovering architects, everything we learn will give new insight and provide a different lens to view the world in.  I’d optimistically say that the skills an architect develops in their career won’t ever fully go to waste 😁.  All the best!

@Jason H.  (how the heck do you tag someone?????)

I have not gone through with an owner financed deal quite yet. Instead I found a great, dilapidated, four-plex and am in the middle of doing a BRRRR on that. I would still love to explore the owner finance deals but unfortunately do not have a ton of time outside of doing all the work on the four-plex myself and my job! So lets just call it on pause!

I am wondering how people approach the owner finance deal. I realize that each person needs different things on each deal. Such as some are more interested in a large down payment, some are interested in just monthly income, etc. But my main question is how do you approach the deal as a whole. Do you, yourself, contact the listing agent and ask if they have considered owner financing? Do you contact the owner directly? And if so, how?

Lastly, do you involve your agent? I guess the same questions as above would apply as well if you do involve your agent.

I have not done an owner finance deal but I would love to do one so I can learn another way to get some more doors!

Thanks all!