Engineering Degree and Real Estate

[Arta Montero]

For those of you that have an engineering degree I am wondering what was your progression from engineering to real estate and if you still continue with your W-2 job or transitioned partially or completely away from W-2 job or engineering

[John Todderud]

That's a great skill to apply to real estate. You have analytical and problem solving skills, both required. Be aware, though, of engineers' tendency to over analyze. You'll never know everything and there's a point where you decide you know enough, then take action. Also engineers tend to be introverts and you need to meet and partner with others, but everyone can learn to network.

Engineering taught you to do several things at once. When working your W2 job, find time in your day to research markets, take multifamily investing classes, call brokers, underwrite properties. Don't be in a rush to quit your job, just find 10-20 more hours in the week for real estate. Don't wait forever to buy a property as you'll learn more from that than any classes. Unless you have an experienced mentor or partner, keep your first properties small so your mistakes don't break you. 

This has been my progression, from my background in computer science. What I battle, and I think this may be common with people who have studied hard, got a good job, and make decent money, is risk aversion. I have huge respect for people who didn't have much, took risks, and found success.