WHO ARE YOU? What do you do besides real estate?

[Kyle Grimm]

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!

[Inetta Bell]

I took an early retirement from the phone company several years ago but still working in the Healthcare field and due to totally retire the end of 2019.  I have come a long ways working 9-5pm. If I could turn back the hands of time of course I would have jumped into real estate and gotten my freedom early in life. But I have learned a lot about the world and people which that knowledge can never be taken away. Ready for part II...Wholesaling!

[Shawn Ward]

In addition to flipping houses, I own an agency that consults startups and aspring entrepreneurs in all sectors to assist them in growing their businesses to new levels.

[Dmitriy Fomichenko]

I help real estate investors obtain checkbook control over their retirement accounts (via truly self-directed Solo 401k and Checkbook IRA) and enable them to invest their retirement funds in trust deeds, real estate, tax liens, private lending and any other alternative investments. Purchased my first rental in 2002 and about 20 more since then. Since I started my business in 2010 I downsized my rental portfolio and mainly doing private lending now, of which I like the passive investing aspect the most. 

[Chris Baer]

I manage distribution for a large food/beverage company here in the Denver area. I purchased a condo in the Vail Valley 2 years ago and it's already appreciated over 100K.  It's not a rental, we just use it for a ski and summer basecamp which my 5 and 9 yr. old love.  Anyhow, I spend a lot of time looking at properties online and running numbers, and now starting to look for properties to acquire. Good opp's seem hard to find here in CO right now though.  I grew up in Memphis and that market has opportunity in my eyes. Anyone else investing there right now? Like a lot of posters here, I'm looking transition my career into something I feel more passionate about and RE definitely interests me.

[Daniel Hanson]

@Kyle Grimm

I manage projects and do continuous improvement events inside a large multi-national corporation.  We do this in both offices and on the factory floor, all around the world.   I like to joke that on Monday me and a SWAT team go into a site where we don't know anybody and we barely understand the problem to be solved.  By Tuesday we know what the problem is and have a few ideas how to solve it, the ideas came from the people who are living with the problem.  By Wednesday we are in the pits of despair that we'll ever solve the problem.  By Friday we walk out of there with some of the problems officially solved, and an action plan to deal with the rest.  For the most part I love my job.

I have an industrial engineering background, but I got my "business degree" in the eBay PowerSeller School of Hard Knocks.  Sold LEGO blocks for many years on the side on eBay, then sold that business to move into Milwaukee area buy-and-hold real estate.

[John Thedford]

I buy and sell machine guns, silencers, and an occasional destructive device such as grenade launchers:)

Unfortunately, you cannot use these for evictions or collecting from delinquent tenants--but they don't know that:)

[Peter Rizzo]

I'm the President of a company called that sets up Checbook controlled IRAs and Solo 401K's - plus have a variety of products and investment opportunities that help people protect their retirement savings and investments through complete self management. Have been a real estate investor  for over 30 years.

[Joshua Martin]

I serve tables and bar tend at a fancy pants place, but I also got my RE license about 9 months ago, so I've been selling a few houses. Also closing on my first four family June 20th. The plan is to be full time RE, but I'll have to be extra creative. With what I'm trying to go after though, W2 income may not be as important (multifamilies). Great topic!

[Drew Slew]

Great thread @Kyle Grimm I work in real estate as an agent and also finance as my day job (more fintech sales) in NYC, recently moved here from Europe and now own a few rentals with tenants. 

IMO W2 salary is the foundation as others have mentioned, to get the ball rolling. Figuring buying a 150-300k place every year or so building up equity, playing the financing part right with cash out refi/delayed, heloc etc. and consistently having good rents come in, it seems like 5-10years should be a good time frame to build up something that is a meaningful side income. 

Add to this a wife/partner who can also replicate this or add to it, than things can speed up. 

[Dale Carlson]

I sell paper....almost like "The Office"

[Hazel Wiggs]

I work in admin at a hospital for the X-Ray department and have been in this field since 2001.

As I'm working my day job, I'm currently working on a plan to execute in leaving this place. I realized a couple of years ago that I'm done working for somebody else. Thankfully, I've been able to acquire a massive amount of skills in the field that I'm in to use as leverage for my RE business. I'm looking forward to that jump and sharing my story on BP.

Right now, I'm soaking up as much education as I can, fixing my finances, building my team and networking with other investors. It's been a great experience so far. :)

[Terry Lao]

@Kyle Grimm

Most everyone here started somewhere. Keep your day job (W2). That is the foundation of getting your first property.

You need 2 years landlord experience on your federal tax returns, schedule E, rents and royalties. If you cannot qualify to purchase multi-units yourself, then get a co-signer or partner. Once, you get your two years landlord on fed tax, then each subsequent multi-unit property you purchase that has tenants in place, you can use 75% of lease agreements against PITI. In which, most cases, if you bought great cash flow properties, will still give you $100 or more positive income. That said, you will always be below 45% total debt to income ratio. Then when you reach your 10 property, you will need to find another source of lending, or wrap your entire portfolio into one loan. Then start over with another multi-unit.

Terry Lao

[Dave Ya]

I am in IT security and compliance during the day.  

[Michael Henry]

Great Posts! 

Real Estate is all I know now;  it is a small problem!  Though I do keep a small collection of items to remind me of my past life. 

[Kelly A.]

I've dabbled in real estate for years. Most recently we bought a house (our residence) that we've been living in for over a year on a land contract. We purchased w/a delayed down payment, wich was installing a steel roof. 

Currently we are going to refinance, possibly 'cash out', meaning to do a 80%LTV, I believe. With the extra money we have choice of using for repairs/improvements and selling or renting it out, or maybe use as a down payment on another property that could be a rental, brrrrr, or flip.

Day job: Drywall & paint. Been doing it since 18 years old, currently 47 years old. There is a demand for what we do although it's not a recession proof job so it's good to know other skills, real estate included. Also I occasionally do a tear off and shingle a roof. 

I've also been involved in building a house from the initial digging the hole for the foundation ...all the way through to selling process. There was only two things i missed out on when building the new house, because i had to do drywall gig. Those were pouring the footings and i think the other thing was building the 4 foot block wall (it was a split-level house). Building a house is a very interesting process indeed.

Most recently we put a steel roof on our residence, which was quite different from typical asphalt roof, that I'm used to installing.

Thanks for the question/post, very good topic!

Kelly

[Junior Salters]

I am a Territory Sales Manager for a global truck tire manufacturer working in Charlotte, NC while living in Spartanburg, SC. I love sales, but love the autonomy and flexibility real estate brings!

[Brianne H.]

I am a sign language interpreter, mainly working in a grade 7-12 school, but I also do contract freelance assignments. My husband and I have house hacked/live-in flipped 3 houses and are hoping to purchase an acreage this year, which has been our dream and the main reason for doing flips so far. But since both my husband and I have gotten injured from our day jobs (carpal tunnel and repetitive strain) at ages 27 & 22, we've realized this is not what we want to be doing for the rest of our lives. So after the acreage, our focus will be on small multifamilies in the US. 

[Christian Pineda]

I am a electrician and been doing this for 5 year in Orange County. I came to BP to learn about invest in real estate.

[David Campbell]

I've served in the military for about 12 years now. Hopefully I can do another 100! haha

[Jill F.]

What a great thread! Thanks to all who have contributed! My husband and I are both former software developers; we retired and went sailing south but after several unexpected health issues, we found that we were blowing through our retirement funds a little too quickly comfort. Last August we began purchasing small multi-family properties as buy and hold investments. We now have 21 doors. We also own a couple of vapor stores-- our son bought my husband an ecig for father's day four years ago and he managed to quit smoking!

[Tyler Scott]

My passion has always been music. 

Since a young age, music was always in my head. I remember listening to Linkin Park as I walked home from middle and just being in awe at how they blended those sounds together. Not too long after that my grandfather bought me my first guitar. I think it was a Washburn STD. I remember just sitting for hours learning my favorite songs on it. The years went on and fingers got faster and better. Not long after I had learned Wonderwall, I was soloing to November Rain and Voodoo Child. 

In high school, through a mutual friend, I found a drummer and we started a "band." From there it was fun performances and good memories. Oh and ton of money spent on guitar pedals. ;) 

So yeah, theres the long winded answer. 

- T

[Nicholas W.]

Some how I've convinced people to pay me to make their grass long and then pay me more to make it short again.

Seriously though I own a lawn service business, primarily mowing and fertilizing, that has treated me pretty well and gives me 5 months off every winter. As I purchase more rentals I plan to cut back on the amount of time I spend on the lawn service.

[Ryan Murdock]

Jobs: Investor, property manager, real estate agent

Hobbies: Investor, property manager, real estate agent

[Connor Flynn smith]

Full time firefighter in Madisonville, Kentucky. I started buying rental property 6 months ago and currently have 4 and have completed one flip. I of course jumped in after reading "rich dad, poor dad!" I needed something to help compensate for pay decrease after I got out of the doomed mining industry. My original goal was 10 rentals in 10 years and paid off in 20. Now I see no end in sight! Needless to say I am hooked!

[Susan K.]

I was an executive assistant for many years, also did estate management outside of the U.S. for a few years. Have been a real estate agent for over a decade. Currently working like a dog finishing the rehab on our primary house. Getting a HELOC and planning to buy another investment to rehab and flip. My husband has W2 income which is making this HELOC possible. Our goal is to get to a point where we have enough positive cash flow from RE that we don't need any W2 situations as far as work. We don't have pensions so real estate investments are our only hope for eventual retirement.