Perception - Good / Bad Idea?

Question

Hi Guys!

Any advice is greatly appreciated. :)

So, I’ve been investing in real estate on and off for about 15 years now and got about 20 deals under my belt. My day job is in the Information Technology Analyst and I just recently got my real estate license and looking to transition into this field in the next few years full time.

My question to you is in regards of perception. Most of my co-workers and friends know me as an I.T. guy, only close friends know of my real estate business. I’m looking for ways to change their perception of me and to have them think of me as a real estate professional.

So at work, we can personalize our cubical and I was thinking about printing the front of every property that I’ve invested in, so people would notice and start up a conversation with me regarding real estate.Do you guys think this would be a good or bad idea?

Pros: It would indirectly marketing myself. People may start to view me differently, hopefully giving me some credibility in real estate as I “Walk the Talk”hopefully, this would lead to some deals.

Cons: People knowing my business, jealousy, enviest, nosey, etc. Note: I don’t plan on giving people numbers, if they ask how much, I would just say a little here and there, just because I don’t want my co-workers knowing I could be making more money than them.

Jordan Thibodeau · Answer

@Peter Lee

I see that as a con, and I'm speaking from a conservative view point. What if you under-perform one quarter, and the company uses this against you? What if other colleauges see it as bragging? Pictures add to much added attention from unqualified leads who don't care about RE, but would like to character assassinate you.

I would instead find more subtle way to discuss real estate, start a lunch group to discuss RE. People will know you "walk the talk" as soon as they hear you speaking intelligently about RE.

Andy Luick · Answer

First off - why are you shifting to real estate full time from IT?  Are you actually trying to become a full time agent/investor or just an investor working your own model?  I'm not really clear about that.  @Nicole W. - has the right idea, just network one on one with co-workers...chat, take them to lunch and build your network or Rolodex for the seniors among us!  Your IT career and your real estate career all come down to who you know.  Over promoting at work could cost you a raise or a promotion....people are jealous and many will be negative about what you are doing anyway so it's not worth the risk.

I usually agree with Bill who is a great source for all things real estate.  Here, most people don't want you to really be successful.  Just the sad truth of life and you could get more negative just by announcing your success.  Instead, try creating a personal web page and put together a new business card (hirebythehour.com can be a cheap effective way to get a great design).  Now keep 2 sets of cards on you at all times - one for the job another for the new venture.  Put all your properties on the website and promote the site and yourself.  Go to lunch and the co-worker seems interested.....give 'em the new card.  Otherwise....drop it and move on.  Pass the card EVERYWHERE.....get good service at dinner?  leave your card with the tip!  Constantly network and drive different approaches.

Want to buy houses....or whatever your business is going to be.....have some custom embroidered shirts that use your back as a billboard.  I've done it for years as HandyANDY and it works really well.  Some people approach me out and about....others quietly take the number down as I walk around HomeDepot and call me or the office later.  I buy discounted shirts at TJ Max off the clearance rack and then spend $40 a shirt on the embroidery.  Really works well and sets me apart from others!

Be prepared for changes...when I left corporate, with bonus and commissions I have high 6 & 7-figures....my 1st year in HandyANDY I made $10,000!  Be prepared for that and make for a gradual transition.  Either way, I'll be cheering for you.

Nicole A. · Answer

I'm not sure why you'd need to suddenly "announce" to all your IT coworkers about your RE business. Just because you want to shift to RE full time doesn't mean you need to tell all your IT guys about it. Simply increase your RE network by becoming more active and going to your local REIA meetings.

Marc Carlson · Answer

I think the most important thing you can do is talk to your coworkers about what you do.  Tie it into the normal flow of conversation, for example, when they are talking about being worried about not having enough money for retirement, you can say, "Well I have a plan for that..."  People love to talk about real estate, so it's easier than you may think to bring it up.

I do like the idea of putting up pictures of your investment properties, and agree that spreading them out is the best way to go.  I wouldn't worry about your coworkers being jealous.  They will either ask you about how they can get started, or mention that they would like too, or be the typical naysayer.

Bill Gulley · Answer

Good idea, I'd get pictures and put "SOLD" or "RENTED" on them in red letters.

Don't cover the house up, but make it bold.

Otherwise, people may walk by think you just moved around a lot and not say anything.

I might put up fewer than Joe mentioned, good idea to string them out. Might put up 3, then one or two a week, just add to the wall. That will indicate activity over time.

Then your goal is to keep adding to the wall, if you slow down on postings it will look like you're going out of business LOL.

Get about 8 houses up, then rearrange the pictures, you might take the first posted down then put up a new picture. Rotate the pictures. Be creative,

This is what's done in RE offices, new listings are put up and a few marked sold are mixed in to do a couple things; 1. shows activity, moving the inventory 2. plants the seed of urgency in the minds of those looking, they will be marked sold any day!

Putting up 20 will certainly make a big bang impression, but it will become old hat stuff 3 months later with the same pics posted, what you want to show is that you're IN the business, not that you WERE in the business.

The only "con" I see is that your employer may have thoughts. Don't want to look like RE is a distraction, might think you don't need a raise, might think you're a go getter guy and promote you keeping you there, whole range of impressions, put up just a few and you can read others as to what the impression is.

I don't see any cons with your peers, just keep it low key and if the conversation comes up, just move along in a matter of fact way. :)

Joe Villeneuve · Answer

Don't see the cons as being cons.  All the items you mentioned as cons wouldn't matter to me in any way.  I think it's a great idea with this one suggestion/adjustment.  Don't put all of your deals up at one time.  Put about 5 up at a time and rotate them in groups of 4.  Also, don't put the same 4 in the group when you go to the next rotation (after you put all 20 up).

Joe VilleneuveREcapSystemA2REIC

Perception - Good / Bad Idea?

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