What are the best jobs to have when investing in RE

Question

I've been looking into a career change for quite some time. Hopefully one that will propel me further into my real estate goals. I know most will probably say any type of lending/financing, but I do not have a background for that. I am currently a real estate agent, and I work a salaried position as a strength & conditioning coach. I want to get into something to learn and grow my career as a real estate investor. I would love to hear everyone's suggestions.

Thanks!

Tyler Maten · Answer

What’s up Aaron I went threw a similar situation I was and still have my real estate license but I switched over to the mortgage side. I love being a mortgage broker, and have learned a lot about lending, creative strategies, and made great connections.

I also didn’t have a background in “finance” but did enjoy the underwriting process I do when analyzing my own properties for my portfolio.

In my opinion making the switch was a lot easier then some may think, definitely a career worth considering!

Good luck brother on which ever route you decide to pursue! Reach out if I can help with anything!

Jessica Von Zastrow · Answer

It sounds like you're already on the right path balancing a stable salaried position with your role as a real estate agent to help build experience. As you start building your investment portfolio, there's a few things I'd keep in mind:

• Income: For conventional loans, it is important to have stable salaried employment and to avoid employment gaps. If you go fully commission-based, you'll need to build a history before getting a loan. 
• Gaining experience: Networking and joining professional groups can be great ways to gain experience and learn from others in the industry. Consider joining a real estate agent association, attending Bigger Pockets local meetups around Dallas, or keep doing what you're doing here by participating in online forums and groups to connect with others and learn from their experiences.
• Building your resume: It sounds like you already are working as a real estate agent in addition to your "9-5." Focus on closing deals and gaining experience. There's a lot to learn through helping others through their home purchase journey as well as building a network of contacts and resources that can help you succeed in the industry.

Theresa Harris · Answer

Do a job that you love and will pay the bills.  Most landlords have jobs that have nothing to do with real estate.  It is that job that allows us to get mortgages and buy rentals.

Bruce Lynn · Answer

If you could find work in this environment, maybe a builder....where you will meet all the trades...or a city code inspector....so same thing you meet all the trades.

Otherwise maybe working in a supply store where you also could meet all the trades.

Another alternative is a project manager for commercial construction...that's still moving strong here.

Lending I would think would be super tough right now.  Business has slowed, lots of people getting out of the business, and these days I really want to work with the most experienced lenders I have known and worked with for 10-20 years and no that business backwards and forwards.  Can't take a chance on new to the business lenders.

If you have a degree I would think teaching also might provide a decent salary and give you lots of free time afternoons, weekends, summers, holidays.

Jeff S. · Answer

Personally @Aaron Heers I had problems being in RE and being an investor as RE was an unsteady source of income when recession hits. When recession comes this is the best time to buy but commission type income put me in a financial bind. It wasn't until I got steady solid income that I qualified for financing and got myself on solid ground to invest. But that is just me.

Income does not need to be RE related in fact for me best not to be.

Max Ferguson · Answer

We have very similar positions. I teach tennis on the side as a "cushion" of sorts. My last year has been focusing on my scaling of my agent business and scaling down instruction (huge opportunity cost). The networking tennis instruction provides is something I have a hard time giving up though! I have taught Bill Gates, the Buffet Family, previous president's families, etc..

With that being said the extra job has saved me a couple of times when finances were thin, but would it be too hard to scale the agent business? Understandable if you don't like it and want to switch, but during slow times the agents that put their foot down will do very well in the next bull cycle of the market. If you can make it through this slow time, being an agent will be highly profitable for you if you nurture your business.

If being an agent isn't something you can do, I would say go for something fulfilling that covers the mortgage(s) and go from there. That's the nice part about RE, you can play the game however you want.

What are the best jobs to have when investing in RE

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