Should I Change Careers?

Multi-Family and Apartment Investing
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Should I Change Careers?

Collin Ordonez
Member since 2020 · 6 posts · 4 votes

Hey All, 

My ultimate investment goal in real estate is to be able to own, or possibly develop, large multifamily properties. I am 26 doing project management for a large commercial general contractor, but am wondering if I should change career paths to work for a multifamily investor or large developer. The thought would be to try to grow knowledge and connections in the industry to hopefully accelerate the ability to buy multifamily properties in the future. I like my current career and think I would be able to use the knowledge I've gained in the construction field to renovate existing multifamily properties or help run new development projects.

Currently I have one property that is currently being used as a mid-term rental. We don't have enough money to personally put down on a commercial multifamily deal, so the goal is to buy a 1-4 unit to live in while we grow knowledge/capital to be able to purchase larger deals. 

Any advice is helpful on the possible career shift or other advice on getting started in multifamily investing would be appreciated!

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Mason WeissBusiness Member
Realtor · Phoenix, AZ · Member since 2021 · 523 posts · 239 votes
2y

Hey Collin, there are many factors that come into play when choosing a job that only you are your close circle will be able to analyze. I think you have the right framework of looking for a role where you can learn more about the game and fast track future investments. 

I would try and seek out some mentors in your field, people who have made these same decisions previously. See if they can help you with your questions and path to where you want to be. 

[email protected]480-818-7745
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  • Mason WeissBusiness Member
    Realtor · Phoenix, AZ · Member since 2021 · 523 posts · 239 votes
    2y

    Hey Collin, there are many factors that come into play when choosing a job that only you are your close circle will be able to analyze. I think you have the right framework of looking for a role where you can learn more about the game and fast track future investments. 

    I would try and seek out some mentors in your field, people who have made these same decisions previously. See if they can help you with your questions and path to where you want to be. 

    [email protected]480-818-7745
    1Reply
  • Benjamin AakerPro Member
    Rental Property Investor · Brandon, SD · Member since 2015 · 1k+ posts · 1k+ votes
    2y
    For your house hacking idea, I recommend getting 4 units rather than smaller. You can still get the FHA loan and have larger income. Hopefully you can put your contracting knowledge to work on the new property.
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  • Kristi KandelPro Member
    Developer · Fort Myers Beach, FL · Member since 2018 · 383 posts · 195 votes
    2y
    Quote from @Collin Ordonez:

    Hey All, 

    My ultimate investment goal in real estate is to be able to own, or possibly develop, large multifamily properties. I am 26 doing project management for a large commercial general contractor, but am wondering if I should change career paths to work for a multifamily investor or large developer. The thought would be to try to grow knowledge and connections in the industry to hopefully accelerate the ability to buy multifamily properties in the future. I like my current career and think I would be able to use the knowledge I've gained in the construction field to renovate existing multifamily properties or help run new development projects.

    Currently I have one property that is currently being used as a mid-term rental. We don't have enough money to personally put down on a commercial multifamily deal, so the goal is to buy a 1-4 unit to live in while we grow knowledge/capital to be able to purchase larger deals. 

    Any advice is helpful on the possible career shift or other advice on getting started in multifamily investing would be appreciated!


     Hey Collin that is awesome to hear about your current experience! You're doing very well and asking the right questions! 

    Personally, if you're happy with your current company and leadership it might make sense for you to join other parts of the company in estimating, project management, accounting, client relationships, business development, etc. The more you can get a free education while getting paid the better. 

    At the same time it could make a lot of sense to find RE meetups or forums online chatting about various parts of development, repositioning existing properties, etc. 

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