Can I invest in Real Estate while truck driving?

Question

Hello, this is my first post as I am looking to become more active on this website. But as the subject says, I am currently a full time truck driver and I am wondering if investing in real estate consistently can be done. Primarily because the more I read books about real estate, the more I notice that it says it will require hours upon hours of work in a given week especially when starting out. That being said, I sometimes wonder how people make the transition while at the same time relying on a paycheck every week to keep up with their necessary expenses. Fortunately, I do have enough money in my savings to cover some months of living expenses but I am definetly not confident enough at the moment to do just that. There are still many questions I have and some things that I don’t understand. I’d love to join a real estate club but I see no listings near me at all on the weekends which is pretty much the only times I have off. The plus side to my job though is that I have a lot of down time to read and look at videos and websites, only that I’m in another state. I am hoping to make connections on this website since I lack the time to do so in person, unless it’s on weekends. Real estate is something I definetly want to do and I do believe I have what it takes. I am excited to be here and look forward to learning more!

Neil Schoepp · Answer

@Juan Santos

First listen to the podcast and decide what type of investor you are going to be. Are you going to buy and hold single family's, Mobile home parks, multifamily, notes, retail space, office space etc. Then start looking at markets. Set up keyword alerts for the type of investing you choose, and the areas you will be driving through.

Setting up Keywords alerts:

1. upper left corner click on your photo icon then on settings

2. Across the top you will see Keyword Alerts

3. it's self explanatory after that.

As  you read / respond to / and create post you will start seeing what is out there. It can be as simple as "hey I'm going to be in Provo next Monday anyone want to meet for a cup of coffee and discuss the market?"

You need not have done a deal to sit with me and discuss real estate. You need to have a basic understanding and a drive and you already have the drive. That's why you start with the podcast and determining what type of investing you want to do.

Remember the answer is ALWAYS no unless you ask. So ask. Just keep taking action and things will happen.

Amy Kendall · Answer

@Juan Santos I think the amount of initial work you will have to put into real estate investing really depends on the strategy you choose to follow.  If you want to take the BRRRR method, then you do need to invest a lot of time into making connections and finding really good deals.  If, however, you just want to buy a property and have a property management company manage it, then your actual time commitment becomes very minimal.  Both can be done from a distance, but the amount of work on your part is very different in those situations.  I acquired my properties over time all while both my husband and I worked full-time.  I would plan on driving while you get started and get a few properties that can give you some cash flow.  My husband and I still save all the cash flow we make from our properties and continue to work so that we can reinvest that money and keep growing.  It gives you a lot of security and once you get a few good properties, it really gains momentum.  It is worth all your effort.  Keep learning and make a goal to acquire at least one property this year.  Good luck!

Neil Schoepp · Answer

@Juan Santos

Short answer is ABSOLUTELY!!!

You have a huge advantage over a lot of us. You drive for 8 / 10 /12 hours a day. Use it wisely.

Start right here with podcast. Listen to them all.

They will give you exposure to the different facets of real estate investing. Each podcast will have a book or two as a recommendation get an audible account and start "reading".

The Bigger pockets podcast will also lead you to other podcast.

Then pick your niche and take a deep dive into that learning all you can.

Is there any chance during your day you could meet for lunch or coffee on your driving route. I imagine your job takes you to many places. If you "regularly" take a route start networking along that route.

Reia and meetups. I run a local one and know that if you contacted me and explained your situation I would absolutely say come on down and yes even if it was just once and I never saw you again. The job of the REIA is to bring investors together. If I can add value to someone I surely would.

This is a mindset thing I don't remember who said this but make sure you think you can.

"Whether you think you can, or you think you can't, your right"

Neil Schoepp · Answer

@Juan Santos

Congrats on taking action. It's all the small steps that lead to greatness. Don't be discouraged if you do not get any bites. Just keep at it.

Here in the forums. General starting and if there is a local forum that would be a good place also. Make sure you use the city or cities you will be in this will trigger investors keywords and bring it to their attention.

Here is the Utah local forum page.

Juan Santos · Answer

@Neil Schoepp Where exactly can I create posts about where I’ll be on a certain date and if anyone’s up for coffee or lunch? Here on the forums or is there a different specific place for that? Thanks.

Eric Veronica · Answer

@Juan Santos talk to a lender to discuss options. Especially important for your type of employment because the compensation can vary wildly for truck drivers. Mileage vs hourly?  W-2 vs10-99?

Ed Emmons · Answer

If you fill out your profile people can assist you better. I would pay particular attention to those who have built their businesses from a distance. This will help you set up a team so you can run things over the phone. On your route you may find some places that are large enough to support businesses and so forth but not the expensive cities. This may be a good place to start. That way you could check in on the way through if you needed to but pretend that you can’t when setting up your team so the systems you put in place don’t depend on you being there.

Juan Santos · Answer

@Neil Schoepp Cool I’ve just set the alerts. Now I have yet to create posts of where I’m going to be once I know. Thank you for the advice and tips!

Eric Gardiner · Answer

@Juan Santos You sure can. If you have the income or financing to buy it you definitely should. If you have those breaks in Salt Lake City then it might be great to buy one in utah. If you have questions reach out I am happy to help.

Clifford Paul · Answer

Absolutely you can do it. My nephew is a truck driver and now has 4 units. He wants to be like his uncle. LOL

The best move I ever made was turning my properties over to a property manager. I'm 90% hand's off except finding the deals and making sure my contractor is doing a great job. I get one or two texts for maintenance approval a couple times every year.

Can I invest in Real Estate while truck driving?

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