Part Time Jobs related to REI??

Question

Hey all,

After going through the pre-approval process for a potential house hack here in the Bay Area, I have decided that I will likely wait another year or so to make my first investment property purchase. I need more time to build capital and don’t feel rushed to compete in this crazy market. My question is this: What would be a great part time job for me to pursue that is related to real estate in the meantime? If I could earn some extra income while also gaining RE experience it would be a win-win. Now I’m not expecting to earn a great amount of income as I am likely qualified for only an entry level gig. I am more interested in the educational piece and I’m not afraid of getting my hands dirty! And for reference sake, I do have a full-time job unrelated to RE. something that is a bit more flexible may be best.

Please leave any suggestions or ideas if you have any!

Thanks!

RJ

Jonathan Steiger · Answer

@Richard Mazolewski I don’t know anything about the California market, however I’d assume that a nicer property in a better neighborhood will cost significantly more and have a lesser ROI. I know a lot of individuals in the Bay Area have to invest out of state for that reason.

Miles Morrison · Answer

I am also looking for my first house hack and have looked into "working to learn" part time jobs and have came across a few options that I'm sure are available in most markets. Part of me thinks I may be better off working hard at networking and adding value where I can and this something I need to get better at as a new investor. With that being said, there are some jobs I have come across that I thought could be educational. Leasing agent, which you can be pick your own hours, learn how to lease a place so that when it's time to lease your own you have experience and get paid commission per lease signed. I have also have come across wholesale companies that want part-time, full commission sales-minded people which would probably be a great way to learn how to find off-market deals and surround yourself with investors. I have thought about the "work to learn" mentality a lot the last few weeks and agree with @Antonio Cucciniello to a certain extent. You dont need to work in RE to be an REI. When I was browsing these jobs it felt like "productive procrastination". Similar to reading book after book but not taking action on what was learned. I too am not in the greatest financial situation to buy the first property within the next 6-8 months but I've personally concluded im better off building my network (while fixing/building my financials) until I'm approved for the type loan I want for the property type I'm after. With that being said, one of these part-time RE jobs may be the best way for you to build your network as all situations are different. Good luck on your search!!!

Rob Kishi · Answer

Working for investors is a great idea, not only as a side hustle but also to bootstrap your knowledge. Networking with niche investors that are doing slightly unconventional deals may provide more opportunities as the standard services may not be a perfect fit for them. For example, a part-time leasing agent or assistant property manager for a rent-by-the-room investor provides a lot of value a traditional property management company wouldn't. There are probably other opportunities in short-term rentals, rehab/ADU project management, or wholesaling as well that could create some great learning experiences depending on what direction you want to go with your investment career.

Marty Boardman · Answer

I recommend getting onboard part-time with a title company. Most investors I meet have no idea how title insurance works (and why it's so important), especially if you're doing deals directly with homeowners. Another HUGE advantage is you'll meet all kinds of people in the business...Realtors, investors, lenders. It's a great way to network. Whenever I'm looking for a new wholesaler to do business with, insurance agent, Realtor or even a contractor I call the VP of my title company. She knows everyone! Best of luck to you RJ!

Antonio Cucciniello · Answer

@Richard Mazolewski This may not be the answer you are looking for, but I have been in your shoes before while living and starting out in NYC.Getting a job in real estate (like becoming an agent part time or something) popped into my head. But I think its just a way of avoiding the fact that you are not confident in your deal analysis or some other part of the process.Rather than avoiding it, ask yourself, what parts of this home buying and investing process you are not confident on?If God (or some God like figure) came to you and said: "Hey Richard, buy this property it will make a 10% return every year?" Would you do it? I know I would have when I was starting out. If you think I am totally off base, let me know and I will shut up:) But from having worked with alot of beginners, this seems to be a big one!

Joseph Cacciapaglia · Answer

You could get your license and work as an agent part-time. If you focus on working with investors, then you'll gain a lot of the right kind of experience. I started part-time several years ago, and now make more $/hr than I did as an attorney. I had already been investing for several years, but working with successful investors taught me a lot, and helped me form a better investing strategy. I started training another part-time agent last year, and it didn't take her long to start closing deals, despite having a day job. We're in San Antonio, so it's a pretty hot market, but I think it's probably doable anywhere.

Christopher Campbell · Answer

Maybe you could offer some personal assistant work to a seasoned investor in your area? You'd have to do a little hunting, you may face a little bit of rejection, and it may not be the case that you get paid initially but the education would be tremendous and you might be able to show enough worth to where you eventually do get paid and all the while you'll be learning from experience in the real world.Just a thought, I'm not sure it would work. I can't think of too many things you could offer a seasoned guy but you never know! Someone may just like your initiative and would be willing to show you the ropes in exchange for whatever they deem fair. Worth a shot I guess!Cheers

Blaine Alger · Answer

I would consider reaching out to other investors in your area and seeing what help you can provide them. You might not get paid a ton or at all but it think the learning experience would be invaluable. -BA

R.J. Mazolewski · Answer

@Christopher CampbellI like this thought a lot. I’m fine with facing rejection. I think taking this route would definitely be playing a numbers game and reaching out to a large number of people. Best way to learn is from those who have already done it.

Rick Albert · Answer

What has helped me the most is the cost analysis of things and being able to do it on the fly and if I don't know it, I can get the resources to learn it. Because of this, I would look into becoming a part time assistant to a developer or investor in the area. With that said, you also have to figure out what "part time" means. Is that nights and weekends or is this something that you can actually do during the day? Being a part time real estate agent is very tough because the client demand is full time, whether you are available or not (I have a client call today at 11am for example).Examples of being an assistant for an investor might be shopping for product (which allows you to understand cost of materials and could be done at night), following up with vendors (developing relationships), and organizing project plans.