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Updated about 7 years ago, 11/07/2017
WHO ARE YOU? What do you do besides real estate?
Hello BP nation!
My question for BP nation is what is your day job? Although we would love to be, most of us are not yet full time investors.
As I grow older and try to figure out the direction of my career, I love hearing the stories of other successful real estate investors and how they got there. I am currently...struggling... at my day job (100% commission insurance salesman) and dream of finding a job I can enjoy while I slowly grow my real estate portfolio.
So BP... What is your day job and what does your life look like trying to work it while you grow your investing career?
Ready...GO!
I do multifamily commercial real estate investing and management full time, but I can tell you in general terms what most of our investors do.
Being from Minnesota many are engineers or managers with 3m, another 1/3rd are IT guys, and the rest are business owners with a few doctors. Most seem to have large 401k portfolios that they tap into for investments. Average age is 30-40, married, and a majority came to America for the American dream and have done well. Most don't drive exotic cars or dress in suits when they first meet us. It is really great to meet new investors to see how they have made it. Of course our experience may not be typical, it is just the people we happen to attract.
I figured I would chip in on this topic since I have a job I really enjoy. I'm a Park Ranger for the National Park Service. My daily commute consists of a boat ride to various islands off the Mississippi Gulf Coast where I get to ride around on four wheelers on the beach. I've worked this job in a variety of parks and have had the opportunity to do what most outdoor enthusiast pay to do on their free time. It's a great fit for me with a decent retirement.
Currently I'm up to seven doors. Three are townhouses in SC that are managed by a friend who is also a realtor. Very little effort is required for me to manage these other than printing off the rent deposits and paying the HOAs. I'm exercising a buy and hold strategy here because it's home and I have ties to the area.
Four of my other doors are here in MS and I manage them myself. There really isn't too much involved other than a little bookkeeping and scheduling of maintenance.
I'm a pastor and I love what I do. My goal for investing is passive income that allows me to not have to worry about money.
I've traversed a road which began working with my dad who managed a print screening shop. Of course as he stayed in his nice air conditioned office which he rightfully earned I sweated in the shop with no AC doing manual labor. He would always tell me not to come in the AC office because I need to work hard to earn it and I'm just like the others who had to work in the shop all day from before sunrise to dark. (6am to 8pm) My dad paid for one semester of college and couldn't afford any more. Through hard work and perseverance I was able to earn my bachelors degree without scholarships/grants and only cumulating about $15k in student loans. (I took advantage of companies paying for my tuition due to my work ethic and potential.) Today I'm a very successful Treasury Manager for a Fortune 1000 company. I'm also a part-time real estate investor with my wife who is a full time mom to 3 wonderful boys and part-time real estate investor. I truly believe God had a plan for our life. My wife left me in 2008, moved out of state with my two young kids and hated me and divorce was imminent. I came home one day and everything was gone, i sat in an empty house with nothing, about a month later I lost my job. That event helped bring me and my wife back together. We rented the house we lived in together, worked on our marriage, and moved out of state to be with her and my kids. Today, we are happy have 3 adorable kids who I coach in several sports have opened our house to fostering and have 18 doors and plan on having 20+ by year end, with only $200k in debt. We invested heavily during the down market and secured some unbelievable deals which are not easy to come by in todays market in our area. We've been very blessed and I don't think books are what put me in the position I'm in today, I believe God had his hand in my life and he knew my heart that I wanted nothing more than to be with my wife and kids. I truly believe, whatever obstacles are in your way, if your heart is right to help others, favor will follow you.
I am a licensed architect in Washington State, and I started a business that helps real estate investors manage the construction of their projects, Star Built Consulting. I am always looking to leverage my skills with fellow investors to create value in their deals!
I am a Tactics and Firearms Instructor by day for 4 days a week. Nights and weekends is when I devote my attention to getting my REI business of the ground. I am extremely happy to announce that I have just purchased my 1st property which I intend to flip! This weekend is the start of a long prosperous career in my REI business. I intend to keep my JOB as I truly enjoy what I do and make a GR8 income doing it which allows me to continue to focus my attention on my REI career. Here is to wishing you a successful 2017 in your REI ventures!
I'm a history professor at Jackson State University in Mississippi with my specialty in the Middle East. I fell into real estate when I watched the property values in my own neighborhood collapse. I could either cry about my house being underwater or buy up the neighborhood. I now own five house on my street and have nine doors altogether.
Kyle Grimm
I'm a licensed architect as well. I don't do anything glamorous in that field but I fill a much-needed role as a mentor/trainer and I enjoy that. I actually redefined my role a few years ago to create more space for the relationships that matter most, so I get to work from home several days a week. I've yet to make my first investment but at least I can't blame my W2 job for getting in the way of that.
I'm a cop working the night shift. I make good money but I'm glad I only have 9 years till I can retire and move on to something else. Hopefully by then I'll have enough rentals to keep me busy and enough income that I won't have to get another job!
I'm a small-animal veterinarian.
I work full-time at one practice and fill-in as an independent contractor at others on my days off. Rewarding career, but draining to work so many hours and can also take an emotional toll. Planning to use real estate to allow a transition to part-time W2 work. I doubt I could ever stop practicing veterinary medicine completely.
I'm an expert Tilesetter, showers are my niche. Studying to be a real estate agent too, giving me a basic education in RE and on my way to being an investor someday
I own a medical practice but have been able to acquire just under 90 rental houses since 2005. I m not a doctor BTW. Real estate is sooooo much more fun than my day job.
Rima and I keep people out of trouble with the highly-regulated toxic and hazardous materials - asbestos, lead, VOCs, soil and groundwater contamination, plus indoor air quality and the almost unregulated mold.
Self employed computer programmer here. Career start was very tough, required tremendous learning and motivation. Overall quite happy with work and the excellent income, but feeling partial burnout and believing there should be more to life than a demanding career. So I decided to build a passive income stream to retire around age 50. Began reading REI books and started investing 7 years ago at the bottom of the market, accumulated 7 SFR rentals so far. Waiting for market to cool off in a few years, plan to have 10-15 rentals total. Hired a PM from the start and very happy about it (don't want more work, need more family time). What keeps me going nowadays is seeing the progress I've made in getting closer to early retirement. So REI is my means to an end.
Cut my teeth in the 90's and early 2000's with Tech, built and sold a few tech companies. Got out of that 2008 and got heavy into real estate after the crash. Spend my time now of days just working deals.
I ran a Landscape Company for the past 5 years, sold the business last spring and now im working in construction for my father-in-law. Iv been flipping properties since i was 21, usually 1-2 properties a year. I have a different approach on "flipping". I like to find good deals and do all the work my self after work and on weekends.each flip usually takes 5-6 months to get in and sell it. I have "flipped" my main residence 2 times in the past 4 years, living in it 2 years each time to save the tax money, this has worked out well since the properties have appreciated so much over the past 4 years. I have a realestate license that i use for my own deals and any friends and family that may need help. I am building a Spec house after work to sell right now. I also have bought and sold items on craigslist to make extra money. Its worked pretty well for me doing many different things to make money, and i never get bored!
I'm still in college but I work as a caddy at The Golf Club. Some people may ask, "which one?" It's just called The Golf Club haha. It was ranked 34th by Golf Digest in Top 100 Course of America this year. There are only 150 members because 150 is the limit. It's the coolest job for a college student. Make good money, very flexible, you meet the coolest people, and you get to be outside on one of the nicest courses in America.
Another job I have is doing contract design work for mobile apps and websites. I do these things during college to save up money for school and hopefully my first Real Estate deal!
I'm an overnight baker at a local grocery store, I do senior care a few days a week and I'm still a full time parent/ home maker. Because I'm starting this gig at an older age and no money to invest I mow lawns, do drive by inspections and do clean up/ out for rehabs to help my business and get my name out there. I've built great relationships this way. Working harder than I ever thought I would be working at this age but it is paying off. I've bought 1 single family, 1 triplex and just closed on my first flip all with no money down pretty good lender rates and I'm cash flowing. Like so many on this sight say, determination is the key. Constant learning and relationship building is a must. I can't wIt to quit my bake job and work this full time.
I feel your pain from the age of 19 to 23. I went through that period. I was a real estate agent and I was struggling. Even thinking about those years give me bad nightmare. Believe me there is hope. Just give up. There is a pot of gold literally at the end of that rainbow of dreams.
I read couple of your posts in this tread and make me think back to those years. I wish I had done it differently. Having a W2 gives a huge amount of stability. Unfortunately it take away a huge amount of free time. If you are not going to get a full time job and do investing on the side then dig in and go to work.
By 23 I figured out that I had to become the Cold call king. I know everyone hates doing it but I used to call every expired listing, every cancelled, every FSBO. 500 Dials each day. Goal was 100 contacts. and 14 appointments with prospective sellers each week. Everyone at my office used to snicker and laugh at my effort. I just had no choice. I was just not willing to give up not because I didn't want to but because I did not see any other options.
One thing that did change by the time I was 24 was that because of consistency I was making sales and carried a lot of listings. At least I was not dead broke. It took me to the age of 26 to really get good at it. Then things got better but the market was going up each year and I could not seem to jump in. I was finally 33 and 2008 hit and I was ready and primed.
Now it seems just like yesterday but it was not. I know I worked hard and years I struggled but life has a funny way of beating the crap out of you when you are down. Either you keep banging your head against the wall and finally give up or the wall just breaks through.
Things are very different today for me and looking back now I know when I was able to finally break through that barrier but along the whole journey it is a struggle and a fight. Even today there are challenges but these challenges happen because I am trying to continue to grow the business.
Keep the faith. There are some wonderful speakers in the real estate agent training space that changed my life forever. Mike Ferry and Tom Ferry. I followed their exact model for really getting good at sale. I am not trying to sell these guys just relaying what worked for me. May be not the easiest path but it does work very well if you are willing to put in the work they suggest.
Being an agent today is very competitive. Yet good agent do very well and you are primed as an agent to be great at investing if you keep your eyes and ears open. I think being on a forum like BP is a great place to be.
Just be careful of any advice. Check out source before you follow someone's advice.
Wish you the best.
When I'm not chasing deals, I'm relaxing at the beach (Coronado or PB) or traveling (mostly to scuba dive)
What's a job? :)
My full time job is talking smack on online public forums. My second job is collecting rent. My third job is ripping equity and wholesaling the heck out of SoCal houses.
I'm a real estate finance and securities attorney by training (on both the debt and equity side). I used to invest a lot in private money notes, and late last year was looking into turnkeys, but am leaving my law firm gig and now all my money is going into my new company (which uses artificial intelligence to automate the drafting of legal document for small real estate syndication/private equity funds! exciting!)
I am a Registered Nurse. I have spent 12 years in the ER, CVICU and aboard helicopters while caring for patients.