Would you do it again?

Question

Knowing what you know now, would you still have chosen the educational program you studied, and/or the career path you initially took?  Or, if real estate is your passion, would you have skipped being a MD, attorney, engineer, middle manager, ad man, etc. and gotten a college degree in real estate, or started a first job in real estate?

Guess I’ll go first. I studied economics as an undergrad. However, my “liberal arts” college did provide 2 courses in real estate, which I took. I really really liked the courses, much better than economics. At the time I graduated with a degree in econ, it wasn’t like now with 75 schools offering graduate degrees in real estate in the U.S. alone. There were maybe two; both were MBAs with real estate concentrations. Although I seriously thought about getting a grad degree in real estate, I took the advice of my “advisor” and chose a concentration in finance. And while I used and continue to use my finance background in my real estate dealings, I’ve often thought I would have shortcut my path to full time real estate investor/syndicator if I had the more specific real estate education.

So, for me, if the programs existed then that exist know, I would have been all over it.  My first job out of school was a finance job with Union Bank of Switzerland, and thereafter I ended up owning a chain of auto repair shops and “dabbled” in real estate investing “on the side”.  Finally, in 2000, I had a dream that I was successful syndicating and putting together real estate partnerships while investing full time.  The next morning I announced the sale of my businesses, and over the next 7 months liquidated all my 8 locations.  Took 6 weeks off to travel the country; met with a real estate professor and developer friend of mine to discuss my plans, and in September 2000 “opened for business”.  Been the best time of my life (business wise) and haven’t looked back since.

Joe S. · Answer

I had a coming to Jesus moment when I was 17. Of my two main running buddies, one is in prison and the other is dead.
I went to seminary at 18 and started doing full-time faith based work when I was 22. There were many days and weeks I was making less than minimum wage, but I was happy to be working for the Lord.

When I was 27 I stumbled across a secondhand real estate course that got me interested. Whereas I did not have normal W-2 income. I learned about some alternative financing techniques. Which was not just beneficial, but was much of a necessity if I was going to buy properties.

Over the years I have learned and grown.  I am still involved in faith based work.

My wife and I have a reasonable portfolio now and we pay our bills through our real estate endeavors.

Looking back I still am glad that I got involved with ministry and I am also glad that I found real estate.

Steve Vaughan · Answer

Having 90% exited out of RE last year after 21 years self-managing f-t, I've asked myself this question as well. Lots of transition reflecting.

I don't regret doing the USMC for 4 yrs when the economy was crap in the late 80's or my undergrad in finance.  The common theme, no matter where we come from, is finish what we start to the best of our ability.

It only took a few years punching in for me to realize I really needed to do my own thing, but the 12 building and forming years from 18-30 were crucial.

Jay Hinrichs · Answer

nice post and nice to read some background on other BP members.

For myself I went straight into sales I got my RE license at 18 my Brokers at 20.

took some collage but no degree . at the same time I was learning to fly and I really wanted to be a Pilot but it was a terrible hiring market in the mid to later 70s.. So just had to be content paying for the flying habit.

After selling RE for 10 years or so ( specializing in land and land development) I mentored with a HML in Oakland and ended up Running the company and an equity stake.. 89 hit ( earth quake War ) and Norther Ca RE went into the toilet.. had to pivot.. got into Timber and land in Oregon and did that through the 90s Loved that bizz until log market soften a bunch and a lot of consolidated mills etc and the business for us kind of died down..

Jumped back into my RE days and chased foreclosures for a few years ( tough gig) then got back into the HML space about 2002 ish.. got my Mtg. Bankers license and grew that business up to the point we were originating 40 loans or so a month all of them for West coast BRRRR buyers buying in the Mid west and deep south..  08 hit and we got slaughtered.. BRRR borrowes could not get refinanced and I foreclosed on over 200 of them spent two years liquidating those deals and losing a ton of money.

Restart in 2002  started some building my bank was feeding me lots from builders that went busto and started back up the lending side ( actually just doing JV deals) and Been doing these ever since.

Would I do it again go through 2 major recession / depressions in RE?  I had no choice..

If I look back I grew up in Cupertino and since I could not be a pilot I often thought I could have got into sales and marketing for one of the tec companies and really rode the stock option train to an early retirement.. but hey I love what I do now its not all wine and roses but its a living.

and after those bad markets I have learned the value of free and clear property and not leveraging up to the max.

Benjamin Sulka · Answer

I just graduated from college in May of 2023 with my BBA in Digital Marketing. I wish I would have known about the power of real estate when I was in high school.

Most people in this forum are reminiscing over years of experience but I'd like to give a different perspective. When I was in high school, I goofed off and got grades far lower than I was capable of doing. This kept me from attaining college scholarships and now I have a bunch of student loans despite having a 3.92 GPA throughout college.

My only regret is not finding out about real estate or Bigger Pockets until later. I wish I would have known about it when I was 16 years old. It's never too early to start developing your strategy and a plan for your life.

I love digital marketing but I would have involved real estate into my college education if I would have known about it earlier. There needs to be high school classes that go deep into finance and different asset classes. During your entire early education you are set up to work for somebody else and go into careers that aren't going to help you build long term financial wealth.

Jeremiah Dunakin · Answer

Been a factory worker since 18. Never had another choice. I had two mouths to feed and rent was due 25 days after I graduated. June 6 diploma July 1st rent was due. My only regret was not using my overtime money more wisely. I could have been much further along than I am had I saved more. I think most of us could say that though.

Chris Seveney · Answer

I studied Civil Engineering and worked for a large general contractor on the project management side out of college and for 15 years. I then went to the dark side or a decade working for two different real estate developers, one was for sale product and the other was long term hold. During this time I also went back to grad school and got a masters in real estate finance. So for me, I would not go back and change things as I was able to learn from some of the best in the industry and those with a lot more experience than me. So I am grateful to have gotten paid to work with some of the smartest minds I know.

Carlos Ptriawan · Answer

I studied management but my w2 profession is now data center engineering specialist after I built my own AT&T back in the 1990s , it is one of the most hunted skillset by recruiter, it was so easy to find job I have to block recruiter number in the past. but my family and my wife family is both landlord and their parent is also landlord, so we save every money and buy house and buy land and after a while we develop good business relationship with contractor with tenant ,etc that we could make additional money with them as well, combining with my analytical background and real estate experience i know i could do more; but i don't want to become GP or syndicator as managing other people money is scary for me. The problem with professional like us is we're actually lazy as the world is already hunting us down so any serious real estate business makes me nervous LOL also i dont enjoy real estate that much because : (i) it is one of sector that's lacking innovation (ii) it's driven by gov. action on the financing (iii) it's long term process and kinda boring.

From your story Don, it seems you are born with a great businessman trait , congratulation :)

Would you do it again?

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