Were You Working a Full-Time Job When You Got Started Investing?

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General Landlording & Rental Properties
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Were You Working a Full-Time Job When You Got Started Investing?

Katie MillerPro Member
General Manager, Publishing at BiggerPockets · Denver, CO · Member since 2017 · 459 posts · 642 votes

Calling all landlords: Tell us the story of how you got started!

If you worked, how did you work a full-time job and invest in real estate?

If you weren't working, what allowed you to take the plunge into full time investing?

256 votes total

Yes, either my spouse or I was working a full-time job when we got started
Yes, either my spouse or I was working a part-time job when we got started
No, either my spouse or I was not working at all when we got started
Yes, either my spouse or I was working at a job, but quit soon after we bought our first property
Yes, was working when getting started and am still working while investing now!
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Nathan GesnerBusiness Member
Moderator
Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3y

I retired from the military and started in real estate just as my market hit rock bottom. Sales were slow and I wanted to get into property management anyway, so I jumped in and built a business. I went from a 250sq.ft. "office" by myself to two offices, eight employees, and a great reputation. I started adding sales to my repertoire to increase income. My property management business produces a tidy profit, so I use my sales commissions to invest in real estate. In six years I went from $200,000 net worth to $2 million net worth and my cash flow guarantees me a comfortable life without ever working again, if I choose.

However, I have no intention of slowing down or retiring right now. I continue to grow my property management business and I am pouring all the profits into more investments.

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22 Replies

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  • Mike Dymski
    Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes
    3y

    Most of us work full time jobs and have busy families. REI is pretty easy to fit in without kids...gets tougher as the family grows.

    2Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    3y

    @Katie Miller

    Worked for decades full time while investing. This past year I left my full time job.

    Highly recommend peopke keep working as making money is not consistent early on

    7e investments53 Reviews
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  • Jack Mawer
    Lender · Member since 2022 · 338 posts · 374 votes
    3y

    I would agree - it is important to work early on in your real estate investing journey to make sure you have stable income and reserves for your properties

    0Reply
  • V.G JasonPro Member
    Investor · Member since 2022 · 3k+ posts · 3k+ votes
    3y

    Have almost a dozen small businesses, don't intend to step out of any those when I start. This is the last entrepreneurial area for me though. Family life is going to get in the way for sure.

    0Reply
  • Bjorn AhlbladPro Member
    Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
    3y

    I had great jobs at software/computer companies and ran my own small software company for 20 years, I was not about to quit and leave that behind. I retired at age 70; was not sure I ever would. 

    My wife was a very successful sales exec she quit her job 5 years ago. We had a couple of properties when we lived in Silicon Valley and really became more active investors after we moved to the PNW, south west of Seattle.

    0Reply
  • Drew C Grossman
    Investor · Jacksonville, FL · Member since 2019 · 135 posts · 106 votes
    3y

    I was working in residential sales at a local brokerage in Orlando when I bought my first property and it was fairly manageable since my "day job" and "investing goals" were both focused on me doing real estate. I still earn my income from real estate which I funnel into long term REI…my strategy currently.

    Early on I had some key individuals to learn from on the investing side of the business (which is what I really love) and I am grateful for them for giving me the confidence to start myself!





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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    3y

    I retired from the military and started in real estate just as my market hit rock bottom. Sales were slow and I wanted to get into property management anyway, so I jumped in and built a business. I went from a 250sq.ft. "office" by myself to two offices, eight employees, and a great reputation. I started adding sales to my repertoire to increase income. My property management business produces a tidy profit, so I use my sales commissions to invest in real estate. In six years I went from $200,000 net worth to $2 million net worth and my cash flow guarantees me a comfortable life without ever working again, if I choose.

    However, I have no intention of slowing down or retiring right now. I continue to grow my property management business and I am pouring all the profits into more investments.

    The DIY Landlord Book4.7248 Reviews
    WebsiteView Page
    2Reply
  • Kenneth GarrettPro Member
    Investor · Florida Panhandle/Illinois · Member since 2016 · 4k+ posts · 3k+ votes
    3y

    @Katie Miller

    When I started I was working 50 hours a week and had two kids at home. Time was limited, but I felt I become super efficient with my time. Couple hours at night on the computer, attend a REIA class once a week. I did a lot of networking in the time I had available.

    Things started slow. The first year I was a big sponge taking it all in and educating myself. Once I started, I flourished with BRRRR deals and at one time had over 20 units. Mostly SFR and two and four unit buildings. Did a few flips as well.

    It’s like anything, if you want to succeed you need to put the effort in. It’s all worth it.

    1Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @Katie Miller:

    Calling all landlords: Tell us the story of how you got started!

    If you worked, how did you work a full-time job and invest in real estate?

    If you weren't working, what allowed you to take the plunge into full time investing?


     if we are not working, how in the world I am able to buy three half million houses in the first place? Money from sky?

    0Reply
  • Katie MillerPro Member
    OP
    General Manager, Publishing at BiggerPockets · Denver, CO · Member since 2017 · 459 posts · 642 votes
    3y

    @Nathan Gesner - I didn't know you were in the military! Do you have a succession plan for if/when you do retire from the property management business? 

    Podcast Guest on Show #217
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  • Katie MillerPro Member
    OP
    General Manager, Publishing at BiggerPockets · Denver, CO · Member since 2017 · 459 posts · 642 votes
    3y
    Quote from @Carlos Ptriawan:
    Quote from @Katie Miller:

    Calling all landlords: Tell us the story of how you got started!

    If you worked, how did you work a full-time job and invest in real estate?

    If you weren't working, what allowed you to take the plunge into full time investing?


     if we are not working, how in the world I am able to buy three half million houses in the first place? Money from sky?


    I think there's lots of creative financing options out there: In particular there's at least one person so far who has voted that they weren't working when they got started. Maybe they'll chime in! :) 

    Podcast Guest on Show #217
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  • Cliff BennerBusiness Member
    Accountant · Denver, CO · Member since 2020 · 392 posts · 183 votes
    3y

    @Katie Miller I started out while working 45+ hours a week 8 months of the year and 55+ for 4 months of the year in Public Accounting. After I had multiple Real Estate clients I moved on to a Property Accountant Position this last February which is now 45+ until February then will become the 9-5 again. 

    I started a Master Mind group here in Denver with @Jon Hill, my wife was running her business which once I left Public Accounting we transitioned to Business Coaching and Accounting Services in one with a focus on New Business Owners, and have been doing a Live and Flip! 

    Our first rental has not gone well at all, but the knowledge I have now is amazing! I will bounce back to buy more and we have plans to add other side hustles as well as grow other business opportunities! 

    My wife has a FT job as well, which we teach her a lot about a business venture we want to do in the future.

    We will probably be working FT each until we pay off a good chunk of debt and stabilize our businesses.

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  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @Katie Miller:
    Quote from @Carlos Ptriawan:
    Quote from @Katie Miller:

    Calling all landlords: Tell us the story of how you got started!

    If you worked, how did you work a full-time job and invest in real estate?

    If you weren't working, what allowed you to take the plunge into full time investing?


     if we are not working, how in the world I am able to buy three half million houses in the first place? Money from sky?


    I think there's lots of creative financing options out there: In particular there's at least one person so far who has voted that they weren't working when they got started. Maybe they'll chime in! :) 


     i dont believe in creative financing/OPM and all stuff like this. To invest one need to have real actual money and business skillsets.

    0Reply
  • Treyston Johnson
    Investor · NC · Member since 2022 · 2 posts · 0 votes
    3y

    Very new to all of this! I left a job in Law Enforcement some months ago, now I travel full time with my wife (Travel Nurse) and two kids. 

    Since I left, we have turned our previous home into a medium-term rental and since I am home all the time, I spend a lot of time educating and managing the property when needed!

    0Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    3y
    Quote from @Katie Miller:

    @Nathan Gesner - I didn't know you were in the military! Do you have a succession plan for if/when you do retire from the property management business? 


    Some people serve in the military two years and then talk about it all their lives, wear the hats, go to military events, etc. I served 21 years and feel that part of my life is behind me.

    My plan is for the company to run itself and I'll collect the profits. Why sell the goose that lays golden eggs?

    The DIY Landlord Book4.7248 Reviews
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    0Reply
  • Marcus Auerbach
    Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
    3y

    I came to Milwaukee from Austria as a corporate expat and got into REI because I did not trust the stock market for my retirement. The income from my W2 made REI growth possible, it would have been hard without. After I "retired" from corporate I found out that sitting at home while everyone else is working is not that great and with so much time on my hands I started as a builder, flipper and agent all at the same time, while still growing our rental portfolio.

    Turns out that was too much and I had to narrow my focus. Today my wife runs the PM side while I can focus on the brokerage side. I still handle acquisitions. But it has given me the time to focus on the brokerage side and have grown a small, but very successful team serving the Milwaukee market and also a real estate YouTube channel, which is a bit of a passion project. One principal we have always followed is that all profits get funneled back into REI.

    1Reply
  • Scott E.
    Contractor · Scottsdale, AZ · Member since 2010 · 2k+ posts · 3k+ votes
    3y

    I was working a full time corporate job while investing in real estate on the side for 10 years before I left my full time job.

    Real estate investing is pretty slow moving. And it doesn't come with a steady paycheck, health benefits, or 401k matching.

    Last year I left my full time job to pursue real estate and other entrepreneurial efforts full time. Was one of the scarier decisions I've made. But I felt very financially and mentally prepared after having done dozens of deals over the past decade.

    0Reply
  • Katie MillerPro Member
    OP
    General Manager, Publishing at BiggerPockets · Denver, CO · Member since 2017 · 459 posts · 642 votes
    3y

    @Nathan Gesner - good for you! 

    And that is a big chunk of your life; thanks for your service! 

    Podcast Guest on Show #217
    0Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    3y

    Worked full time in lending as transitioning to investor

    [email protected]248-209-6824
    Logical Property Management4.9458 Reviews
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    0Reply
  • Jamali Siru
    Member since 2022 · 4 posts · 0 votes
    3y

    working while investing in real estate it gives stability before the return is able to take care of your expenses. 

    0Reply
  • Jamali Siru
    Member since 2022 · 4 posts · 0 votes
    3y
    Quote from @Jamali Siru:

    working while investing in real estate it gives stability before the return is able to take care of your expenses. 


     especially in regions where loans are not easily available. Am rookie investor from Tanzania east Africa. focusing in residential real estate because is the niche which gives me a way to invest slowly and grow my portfolio.

    0Reply
  • Jon Thompson
    Flipper/Rehabber · Nowheresville, NY · Member since 2015 · 31 posts · 20 votes
    3y

    I was working full time in sales, minimum of 45 hrs a week plus roughly 10 hrs in commute. Didn't start REI until my first son was born. Bought first investment property in late 2014. Went full time RE in Feb of 2021. My wife and I hold rentals and do flips and we kind of love every aspect of it.

    0Reply
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