Career advice for future investing

Career advice for future investing

Campbellsville, KY · Member since 2019 · 12 posts · 1 vote

Career advice

So I’m 20 years old and I have one year of college left. I will graduate with a bachelors in business management.

My question is... what should I do for a career when I graduate? Here are some options I’ve thought about. All of these relate to real estate. I think I would enjoy doing something involving real estate because it genuinely interests me. Also, the end goal would be becoming more on the real estate investor side of things. I’d love to be able to make an income that allows me to invest in real estate.

Real Estate Appraiser:

I like this job option because it involves real estate and you make money by how hard you’re willing to work. And you can work for someone to start out, but open your own business when you’re comfortable enough to and make more money. It’s not as sales-y like being an agent is.

Also, the amount of real estate appraisers are declining as a whole because of their age and advancing technology. I don’t know if this is a good thing or bad thing. Possibly good because there will be less competition, but also possibly bad because technology is advancing so real estate appraisers may become obsolete.

Real Estate Inspector:

Same reasons as above. Less likely to become obsolete.

Real Estate Agent:

I like the aspect where you can “make as much money as you want” if you put in the work, but I also kinda hate the idea of constantly finding clients. Seems like you gotta be selling yourself all the time. Sounds exhausting for someone like me.

Property manager:

Can work for someone. Have to find clients if going solo.

Loan officer:

I don’t know a ton about this occupation yet. I know you can either work for a bank or yourself. Pros and cons to both just like the options listed above. I find it interesting how financing works and banking in general.

Manager:

Using my degree and becoming a manager of some type at either hospital, bank, hotel, airport, or retail. This to me would be the least stressful in terms of finances, but you’re restricted to a salary.

Any thoughts, suggestions, or ideas would be much appreciated! Or if you could do it all over again, what would you do to maximize you’re real estate investing career?

Thank you!

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  • Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
    6y

    I think the most important factor is which day-to-day job is good fit for you. Which you can do and really dedicate yourself to, and gobble up every bit of knowledge every day. Which job you can, to borrow from Warren Buffett, tap dance to every day. If you're in your element, then everything else will flow from that.

    The real advantages you get from a career in real estate are the connections and skills. Those are much easier to improve when you love what you do.

    If you're in any of these careers you can (and should) make connections across the board, and you can (and should) build skills that help you tell a good investment from a bad one. Huge advantage at the beginning. 

  • Rental Property Investor · Minneapolis, MN · Member since 2020 · 540 posts · 285 votes
    6y

    @Josiah Harp

    They’re all wildly different, some of those require more education and professional certifications. Appraisers probably the most education, but you can be your own boss, and also side hustle to give flippers ARVs.

    In many states property managers have to be Agents. Flippers you need the construction knowledge and be a good project manager.

  • Campbellsville, KY · Member since 2019 · 12 posts · 1 vote
    6y

    @Taylor L.

    Thank you Taylor! That makes sense to find something that I can see myself enjoying. After all, I would be doing it a whole lot! And yes, any of these careers really should give me awesome connections in the industry. Connections and knowledge are very important. Thank you for taking the time to reply. I appreciate it!

  • Campbellsville, KY · Member since 2019 · 12 posts · 1 vote
    6y

    @Frank Hinck Thank you Frank! Yes, I job shadowed a commercial appraiser. There’s a good amount of course work to become certified in that. And that’s a good tip on giving flippers ARVs on their flips for a side hustle. Also, I do believe you have to be an agent for two years to become a property manager where I live. Thanks so much for the advice!

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