Seeking Advice on Transitioning from an Engineering Career to Real Estate Sydication

[Noah Droste]

Hello BP Family, 

I am quite conflicted right now and I was hoping to gain some perspective by sharing my story. 

Currently, I am a licensed Professional civil engineer in the State of Michigan and I currently work for a consulting firm. My team administers construction contracts for clients. I'm fairly well compensated for my age (24) and with this firm, I feel I am on an accelerated track for career development. 

I also have a few passive investments in real estate. I own my own house, that I rent, and a 12-unit apartment complex. A relatively high net worth mentor advised me that the big money is made in real estate by syndicating large deals. This made me question my current path and how difficult it is to scale by working at a job and trying to purchase real estate with my savings. I enjoy engineering, but I wondered why I am essentially living a double life? Working as an engineer by day and investing by night. Would it not be more prudent to work in the real estate space? 

This thought led me to reach out to many different real estate investing firms in my area. I believe I will be given an opportunity to work for one of them. I think short term, my earning capacity will be smaller but long term it will be exponentially greater. I would go all-in working, learning, and adding value for a multifamily real estate syndicator. I envision myself building trust and working to eventually become a partner or branch off on my own. This is a scary thought because ever since I graduated high school I have been building skills and work experience in the civil engineering space. I know I have abilities that translate, but by making the transition I will be counterfeiting the vast majority of my network, credentials, and skills. 

My skills/abilities: Managing Complex Projects, Attention to Detail, Financial Analysis, Effective Communication (I'm an extroverted engineer, go figure), & Problem Solving. I'm a doer and I drive change in my business and within my company. 

Current financial situation: I'm single, living with my dad, I have low expenses, and my assets cover their own cost. 

My vision statement: "To achieve financial freedom and flexibility by creating a diversified real estate portfolio that provides passive income streams and enables me to pursue my personal and professional goals, while providing the best possible education and lifestyle for my family."

Please share your experiences and let me know if you have any advice! Change can be scary!