Switching Careers to full time Real Estate

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Switching Careers to full time Real Estate

Kyle Eckert
Realtor · Saint Louis, MO · Member since 2017 · 228 posts · 174 votes

I two weeks ago I passed my license exams and submitted my paperwork to get my agent's license in Missouri.  I also put my notice in at my full time W2 job to pursue this new career.  It is a whole heck of a lot riskier, income wise, than the position I am leaving; however I have a passion for real estate and you have to do what you love to get the most out of life.

A bit about my transition:

What I'm leaving: I am leaving a 7 year career in research which no longer excites me, and possibly never did.  I worked at the same company the whole time, and drove roughly 86k miles to get there.  My growing family also needs me to have a more flexible schedule.

Where I am going: I, quite randomly, met the broker at InvestSTL and he offered me a position if I got my license.  His company specializes in investment properties in Saint Louis, so I think it is a good fit and where I would like to be.  The office is also 2.5 miles from my house, and it has always been on my short list of life goals to ride my bike to work.  I wont be able to do it every day for obvious reasons, but it should save me a bunch on gas and help me hit my health goals as well.

What I expect: Honestly, I have no flipping clue.  I have a rough idea, but this is so far out of my comfort zone I am probably way off.  I am excited that any effort I put towards real estate is now my job, since it was a side hustle previously.  I like that idea.

My goals:  Right now, I am just trying to learn the ropes so my goals are simple.  

1. Observe, assist, etc to learn what I am doing so I can be a useful agent to investors looking at St. Louis.

2. Talk to investors and see what they need from an agent.  It is obviously different than retail real estate, so I would like to understand how I could be the most helpful. 

3. I have a very analytical background and I hope to find ways to apply that knowledge and methodology in the real estate investing space.

So if you have any feedback, advice, or want to sit down and have a chat about what you are looking for in an agent or brokerage, I am looking to better understand that.

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  • CJ Witmer
    Investor · Chambersburg, PA · Member since 2016 · 97 posts · 18 votes
    7y

    Good for you man.  Keep us posted on how it goes.  New jobs always seem to need at least 8 months to a year to get fully comfortable.

    0Reply
  • Eric Castelli
    Investor · Columbia, IL · Member since 2015 · 57 posts · 24 votes
    7y

    Sometimes life calls for big moves. Good for you for making the leap.  Good luck!

    0Reply
  • Kyle Eckert
    OP
    Realtor · Saint Louis, MO · Member since 2017 · 228 posts · 174 votes
    7y

    @CJ Witmer @Eric Castelli Thanks for the supportive words.  Here's to hoping it goes well.

    0Reply
  • Thomas S.
    Member since 2016 · 13k+ posts · 12k+ votes
    7y

    Good luck. It would be wise of you to set a definite time line and income goal within that time. Do not hang on beyond that point in time and do not set it out so far that you can not get back into your W2. Financial security for your family should be your number one priority. Employment only has one purpose...to make money. Enjoying what you do should be based only on your paycheck. Too many people jump off that cliff for the wrong reason.

    Be prepared for a down turn in the markets and be ready to jump back into a regular paying job. No harm in trying to make more money as long as you have a plan to go back to and have a solid time line for success. Always keep your doors open.

    0Reply
  • Kyle Eckert
    OP
    Realtor · Saint Louis, MO · Member since 2017 · 228 posts · 174 votes
    7y

    @Thomas S.  "Employment only has one purpose...to make money. Enjoying what you do should be based only on your paycheck."  

    Thanks for the cautionary words and I understand what you are saying.  Based on that logic, I shouldn't be going into this at all.  Instead, I should become a plumber and find 80 hours of work each week.  That would ensure the biggest paycheck I can think of without a buttload of schooling.

    To me: 

    -Most jobs consume time to generate income, i.e. trading hours for dollars.  If you can find a job which takes less hours for more dollars, even if the income is the same, your time becomes more valuable.

    Example: An accountant who works 80 hours a week for $120k/year, makes the same as the chemist who works 40hrs/week for $60k, and the part time mom who works 20hrs a week for $30k/year.

    -All jobs also generates happiness if you enjoy it, and consume happiness if you do not.  Since I like real estate and spending time on it, I hope it will generate happiness at least on average.

    -Time is the highest value commodity in this thought experiment, nearing invaluable as it is quite finite.

    Just my logic behind it.  I wasn't making a huge amount at my W2 position, so if I can cross that line in a few years after I build momentum, I would be quite happy.  Anything past that is gravy.

    1Reply
  • Kyle Eckert
    OP
    Realtor · Saint Louis, MO · Member since 2017 · 228 posts · 174 votes
    7y

    Well, so far so good.  I thought I would share my experience since I find my journey interesting.

    1. It has been a long time since I have been bad at something.  Learning new systems, rules, etc. is something I havent done in a long time.  At my previous job, I was good at what I did and could move quickly.  It kinda feels like trying to drive a stick shift in England.  I understand what I am supposed to do but everything is in new places so I am moving very slowly.

    2. Staying productive is hard.  Itll take time to streamline my own processes and get moving quickly.  I am currently working in a Chevy dealer waiting room, so I am as mobile as I want to be which is awesome.

    3. As I explained to my wife, "I am screaming on the inside about money, but I am the happiest I have been in years."

    1Reply
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