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

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

Kyle Grimm
Investor · St. Louis Mo · Member since 2015 · 211 posts · 129 votes

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!

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Scott TrenchPro Member
Rental Property Investor · Denver, CO · Member since 2014 · 2k+ posts · 6k+ votes
9y

I'm flattered you'd like my opinion! The short answer for me is that I presume a start from an office type job earning median income or greater for the journey toward early financial freedom. The reason for this is simple - it seems to be the silent majority of the BiggerPockets userbase, and it was my own path. Before BP my day job had nothing to do with real estate.

I'm not sorry that I started with a job in finance that paid a median wage. It allowed me to easily get a loan on my first property. That would not have been easy had I started with a sales gig. However, I did change careers and move into a Startup (BiggerPockets!) after about a year. The sales portion of my income did not help me qualify for financing until about 2 years in, nor did my rental income. That was definitely a challenge in getting financing, but luckily Josh paid me enough of a base salary to buy my first place haha.

I think that the key is to find a career that offers potential for scale, and once you find it, stay consistent as you accelerate toward early financial freedom. Lenders like consistency and getting great financing is to me, as a part-time, on the side real estate investor, very important.

Of course, that all fades away in the face of the prospects of exponential growth. If you think you can make half a million or more with a new gig, that could be a shot worth taking. 

So basically my path started with something steady to get the ball rolling, then I took a bit of a risk with part salary, part commissions. Then, I've been buying and creating assets with hard work and frugality for several years, which has produced more consistent income. 

Remember, BP users are often an exception to the rule in real estate. Many folks do not become wealthy because they invest in real estate, in fact, probably most of the landlords that I've met that are not on BiggerPockets are very wealthy because they worked hard in their careers and invested in real estate on the side for years. Another way of saying this is that many of the big landlords and real estate players that I meet have built awesome busiensses or had great careers and have a big pile of money to invest. THEN, they invest that intelligently in real estate. That, or they invest consistently over a career and have a huge portfolio -- this is what I am trying to achieve, with the caveat that I want to forever retain the option to leave any career and live off the real estate income happily should that be my preference.

I work at BiggerPockets and while I invest consistently in real estate, I believe that I will create most of my value professionally through my career here, as will be the case for most of the middle and upper-middle class employed users of BiggerPockets. Real Estate is not my full-time job and I will have failed if I am ever forced to turn to it full-time. Real Estate is a tool to help me produce income and build wealth capable of supporting a wonderful lifestyle on part-time efforts at most. 

Podcast Guest on Show #223
BiggerPockets
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  • Chris Eaker
    Buy and Hold Investor · Knoxville, TN · Member since 2013 · 450 posts · 270 votes
    9y

    I have been a librarian at the University of Tennessee Libraries for 4 years. Before that, I was a civil engineer for 10 years.

    0Reply
  • Hy Schmiedeskamp
    Rental Property Investor · Quincy, IL · Member since 2015 · 24 posts · 7 votes
    9y
    Kyle Grimm Good thread! Since I see you're from Morton, I'll mention I worked my first 10 years out of college for a Martin Equipment branch over in Palmyra, Missouri. Currently manage a pallet recycling and manufacturing company. Started real estate investing about 3 years ago doing most of my own labor every night and weekend.
    0Reply
  • Thomas D.
    Cumberland Gap, VA · Member since 2015 · 38 posts · 25 votes
    9y

    I'm a salesman for a medical  company. I sell implants used in Trauma reconstruction. It's a great job.  Real estate is my only retirement vehicle. It's been very good to me. 

    1Reply
  • Maria McCreless
    Real Estate Agent · Tallahassee, FL · Member since 2017 · 135 posts · 67 votes
    9y

    So my day job was an elementary teacher.  My mentor who also is a former teacher started teaching me about real estate. He introduced me by asking me to flip house with him. Then pushed me to become his property manager and handle all of his real estate needs which lead to me becoming an agent.  So while I am not yet financial free, all of my work now revolves around real estate. 

    1Reply
  • Polar Prutaseranee
    Flipper/Rehabber · Tustin, CA · Member since 2015 · 433 posts · 103 votes
    9y
    Pharmacist
    1Reply
  • John Burtle
    Real Estate Broker · IL · Member since 2016 · 284 posts · 178 votes
    9y

    I'm a full time police officer and I work part time for another department. Smaller departments. I've been a police officer for almost five years now. I love it, but I don't want to do it for 30 years. I'm not into real estate just yet. I'm still saving money and planning. My long term goal is to have over 100 rental units and flip at least four houses per year. I want to give back to smaller departments someday when I am able to afford it, and help them purchase equipment their budgets can't afford.

    Prior to law enforcement I spent some time in college, worked for a farmer, and worked for a construction company.

    5Reply
  • Michael Vallee
    Real Estate Agent · Scottsdale, AZ · Member since 2016 · 63 posts · 16 votes
    9y
    Great question! Interesting answers from my fellows. I own a sales automation software. Worked in B2B sales as a W-2'er for 20yrs and recently went out on my own. Have 8 doors and decent passive income from RE that allowed me to get out of the Rat Race. We live in a time of immense opportunity and resources. Brandon Turner thank you for your podcasts! Great re investing content!
    1Reply
  • Rob Roy
    Agent Sales Representative at BiggerPockets · Fort Collins, CO · Member since 2017 · 51 posts · 38 votes
    9y
    I'm a Navy Pilot and just starting out in the world of REI. When I'm not pushing paperwork at my squadron, I'm usually flying up and down the East Coast or landing on an aircraft carrier at sea. Though, it's not all as glamorous as it seems... Nevertheless, I spend a good portion of my free time learning about real estate so I can become financially free once I get out of the military in a few years' time!
    2Reply
  • Dustin Figenscher
    Rental Property Investor · Rochester, NY · Member since 2015 · 33 posts · 9 votes
    9y
    Kyle Grimm , I know how it feels. I am currently a commission based (with a small salary) debt collector for government student loan contracts. Although it usually pays well, it is a roller coaster ride and makes it hard to plan my next investment moves while working commission. Aside from my w2 job, I own a fairly successful mobile DJ business that I try to use to supplement my real estate aspirations. My first property is an owner occupied duplex obtained with an FHA, and my second property is a single family purchased conventionally with the ability to put 15% down instead of 20. I bought it for 59, put 5 into it, so I now have a decent amount of equity in it. My next move is to do a home equity line of credit (or loan) and pay off my rehab debt I accrued, and use it on a DP for prop #3. I am choosing a HELOC because I can take out 85% LTV on an investment property whereas all the local banks I've reached out to won't even cash out refi for more than 70-75%. My main objective is to connect with a hard or private money lender to be able to buy cash only deals that have good margins so I can BRRRR my way to financial freedom. Good luck to you!
    1Reply
  • Dustin Frank
    Real Estate Agent · KS · Member since 2017 · 157 posts · 71 votes
    9y
    I am currently a real estate agent. I work 12-14 hours 6 or 7 days a week trying to network and find new clients. Despite the fact that I've owned multiple businesses, and rental properties, nobody here knows me from the guy next to me and my old connections no longer apply. It has been a hard start for sure but I truly believe that hard work pays off....I can't wait for the day when Im successful and can mentor some young lad and teach him the value of hard work and persistence. Untill then, rents due in a few days and I better get back to my Uber driving so I can support my real estate business so I can support myself.
    1Reply
  • Andrew Ament
    Flipper/Rehabber · Scottsdale, AZ · Member since 2010 · 59 posts · 6 votes
    9y
    I've been in real estate related businesses all of my adult career. Fell in love with RE in college when I ended up with a part time job working as a leasing consultant for an apartment developer. Changed my major to finance with a specialization in commercial real estate. Spent many years doing many different things in the business, property mgmt, project mgmt, development, financial services, sales, etc. Have had my RE license for over 20 years. About 12 years ago I decided to get my appraisal license. Been a full time Certified Residential Appraiser since then, but recently partnered up with a couple guys and now we are wholesaling full time and I've never been happier. That's it in a nut shell.
    1Reply
  • Hazel Wiggs
    Union City, CA · Member since 2017 · 35 posts · 13 votes
    9y
    Kyle Grimm BP SHOW #90 is Brandon Turner's story :)
    1Reply
  • Marcus Lawson
    Roselle, NJ · Member since 2017 · 139 posts · 71 votes
    9y

    I'm a pharmacy manager. I love my job and way I impact the lives of my patients. However I am at the mercy of a company and the irregular hours has already caused me to miss many engagements with family and friends. 

    Ideally, I would like to completely replace my income and maybe 2-3 times over. I want to be able to be present for my future children and not miss the milestones

    0Reply
  • Vera Herlihy
    Investor · Redondo Beach, CA · Member since 2017 · 134 posts · 46 votes
    9y

    Hello BP Nation! 

    So glad to be here. My day or evening job is a Meteorologist. My husband and I are also quarter partners in a restaurant. 

    I work the swing shift which is from 3pm to midnight Monday through Friday. I love my job, and I also love the restaurant, but I've always wanted to be involved in RE. 

    I bought my first and second properties at the top of the CA market, which ended up being a disaster. So now, I'm looking to get back into it as a real investor, but this time, with the help and experience of all of you. I goal was to buy and hold and I did as long as I could. Had I been on BP 6 years ago, the outcome might have been different. But there's no point in crying over spilled milk, I just want to move forward.

    Thank you so much for allowing me to share, I'm very excited to be part of this community. 

    Vera 

    2Reply
  • Rodney Harris
    Rental Property Investor · Kansas City, KS · Member since 2016 · 114 posts · 57 votes
    9y

    I am a physical therapist assistant, pro natural bodybuilder and online and in person, Personal trainer and nutritionist and I love every bit of it! I think it's important to have something along with real estate that you really love it can also help build capital! 😎 Let me know if you know anyone who needs nutrition help! 💪🏾💪🏾

    4Reply
  • Scarlett Mulligan
    Clarksville, TN · Member since 2016 · 10 posts · 4 votes
    9y

    @Rodney Harris - I need nutrition help!  I've been giving a lot of consideration to low carb lifestyle.  I just listened to David Osborn podcast.  He talked about health being synonymous with wealth .... it gave me a different perspective toward changing my eating habits.  

    I've enjoyed reading about all who have participated.... thank you!  

    I am a physician assistant currently making a transition out of the ER into Urgent Care. One of the primary reasons for doing this is to open up my head space so I can concentrate more on myself & my well being rather than focusing on my patient's condition, charting, billing & coding. My patients will be far less challenging in the UC environment which will allow me more energy to focus on learning all I can about REI.

    Patient care was once a passion for me.  The insurance industry has created a less patient friendly environment.  After 12 years of practice, I've decided the never ending administrative demands & perpetual focus on billing that I'd be much more fulfilled doing something for myself.  If I'm going to be working in a business world then I might as well make it official.....LOL!  I came in with a servant's heart.  Seems I'm only serving the CEO .... the patient is simply a means to an end.  My medical knowledge is now my commodity, no longer my zeal.  

    I look forward to what lies ahead!  I've been a lurking member for 7 months  & will soon (July) have much more time to dedicate in the direction of financial freedom.  

    4Reply
  • Gabriel Green-Lemons
    Rental Property Investor · Hackensack, NJ · Member since 2015 · 20 posts · 20 votes
    9y

    I'm a registered pharmacist, and I work from home full-time processing adverse event reports. My job's great. The work-life balance is awesome and I love the team I work with. I must say BP has been an invaluable resource for learning about real estate thus far. I have tried partnering on some flips in the past and learned some lessons. From here on out, building a huge rental portfolio is the goal.  

    2Reply
  • Roger S.
    Investor · TX · Member since 2015 · 393 posts · 290 votes
    9y

    I work full time as a repair and maintenance technician for a semiconductor manufacturer in North Texas.  

    We are focused on getting enough SFRs to allow me to retire early. Since we began the REI journey about 2 years ago, we have acquired 9, not counting our residence, and tomorrow we are looking at hopefully number 10. Number 10 just may be my ticket to FIRE.

    3Reply
  • Steve Vaughan
    Rental Property Investor · East Wenatchee, WA · Member since 2014 · 10k+ posts · 16k+ votes
    9y

    Stalker and serial killer

    Of forums and sweet deals!  LOL  

    Been full time since '02, but used to underwrite private placements as a series-7 securities broker and trader.

    This is great. Like at the end of a really good play, you read the program and see what all the awesome leads, support and ensemble do in real life!

    4Reply
  • James Galla
    Attorney · Akron, OH · Member since 2016 · 535 posts · 389 votes
    9y
    Just finished my first year of law school. Two more left and then I think I can get a solid jump into investing. The two year wait is killing me!
    1Reply
  • Jarrel Hendersom
    Chicago, IL · Member since 2015 · 16 posts · 5 votes
    9y

    I am currently a Leasing Advisor in Chicago IL looking to start some investments

    0Reply
  • John Thedford
    Real Estate Broker · Naples, FL · Member since 2013 · 9k+ posts · 6k+ votes
    9y

    Great posts-people from all backgrounds! 

    0Reply
  • Pablo Ottenwalder Jr.
    Flipper/Rehabber · Springfield, MA · Member since 2017 · 106 posts · 51 votes
    9y
    I was a produce manager 2 years ago at a supermarket in Boston and was actually paid real good I read rich dad poor dad and then quit ran a distribution company then thought I was unstoppable moved to Miami and worked as an hvac helper, sign holder, Pepsi stocker, used car salesmen, dead body remover, helped people move, roofer, flooring, trucker, auto parts delivery, body shop car washer and the. parts manager somehow ended up in Springfield mass and started making handmade motorcycle seats I quit and now run a catering business while working on getting my real estate license lol I'm only 23 so I can't waste anymore time once I become and agent I will start investing and no more random jobs
    2Reply
  • Matthew T.
    Investor · Springfield, MA · Member since 2010 · 277 posts · 84 votes
    9y

    @Pablo Ottenwalder Jr.  Welcome to Springfield, MA :-)

    1Reply
  • Pablo Ottenwalder Jr.
    Flipper/Rehabber · Springfield, MA · Member since 2017 · 106 posts · 51 votes
    9y
    Matthew T. Thank you and if you need anything let me know how I can help I'm extremely motivated and want to learn as much as possible
    0Reply
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