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All Forum Posts by: Ross Miller

Ross Miller has started 10 posts and replied 33 times.

Post: Making an important life decision - could use some advice

Ross MillerPosted
  • Pottsville, PA
  • Posts 33
  • Votes 8

Good morning!

I'll have to make a fairly important decision soon, and I'd like to get some advice from investors. It's going to be a long read, but I'll try to trim the fat as much as possible.

Right out of high school, I got a full-time job. I wasn't sure what I wanted to do for a career, so I didn't want to waste money and time going to school just to change majors. I'm a car guy, so I eventually decided that mechanical engineering would be the perfect career for me. A local community college had a partnership with Temple University to offer a B.S. in mechanical engineering technology. At the time of my enrollment, the advisers had essentially convinced me that MET is the same as ME.

That was entirely wrong. I didn't think about it much until I got my A.S. in MET. When looking at the courses required for the B.S. degree, I realized that MET is much more focused on things like manufacturing machines and automation, which I have almost no interest in. Around this time is when I started getting interested in RE. I considered dropping out of the B.S. program at this time, but I received a fairly substantial scholarship towards the B.S. My parents convinced me to finish the B.S. degree even though it's not really what I'm interested in. I'm about to graduate in May, hence my decision coming up.

My current job (I've been there 11 years now) is a laborer and equipment operator on the road maintenance crew of a local township. It has some great things going for it. The pay is great for my area. The benefits are amazing - seriously, I pay almost nothing out of pocket. The hours are incredibly flexible - I can take time off with minimal notice as long as there's not a huge project going on. We can break our vacation days down in 15 minute intervals if we want. We start early and get home early - I'm home by 3:15pm. It's a 7 minute drive from my house. I don't mind the work. I've been there long enough that I now get a ton of vacation time each year. I actually kind of enjoy being outdoors. There is also a possibility that I will be promoted to "roadmaster" (basically the foreman of the road crew) within the next 2 years. This comes with more responsibility, but more pay also. On the other hand, this job is very labor intensive. It's also slightly volatile, since new supervisors could be elected and decide to fire you without any just cause. It's highly doubtful, and hasn't happened once in the township history, but it's possible.

If I get a job that uses my MET degree, it will almost definitely be at least a 45-60 minute drive on a crowded highway with weekly crashes to get to where the jobs are. For personal reasons, I do not want to relocate yet. I won't like the 9-5 hours, which means I will only be home around 6pm. I will be starting over with vacation time, and it is highly unlikely that I will be able to break up my vacation days like my current job. There is a wide variety of jobs that I may be qualified for, but most of them don't seem like anything I would enjoy. On the other hand, the starting pay will likely be a few thousand per year more than I'm making now, with increases as I move up the ladder.

I feel like I will have wasted years of my life in school if I don't get a job using my degree. Everyone I've talked to thinks I would be crazy to not get a MET job, but they are also people who have never been very successful. They're mostly lower-middle class that have always worked a safe job and aimed for mediocrity. I'd like to get input from people with a more diverse background. 

I don't like working for a boss. I want to be my own boss. Even if I get an MET job, the ultimate goal would be to eventually make REI my career. In that capacity, it seems the only advantage of an MET job is the higher pay. I feel like the flexible hours of my township job would be very beneficial to REI. Obviously, I'm leaning towards staying with my current job, but I'm not yet convinced that it's the best decision.

What do you think?

Post: New member from East Central PA

Ross MillerPosted
  • Pottsville, PA
  • Posts 33
  • Votes 8

Sheila, I don't know that I'm qualified to give you an answer about the market, as I'm still learning about that stuff. I sort of just jumped into it head first when I drove by a FSBO in Schuylkill Haven that other investors hadn't seen yet. It does seem to really depend on the specific town/borough though.

My father has been trying to flip houses for a few years now, and he has been learning a lot of things the hard way. He tried to flip a couple houses in Minersville and had a horrible time trying to get them sold. The houses are so cheap that they seem to attract a lot of people with poor credit ratings. None of his buyers could get financing. He eventually sold them for barely more than what he had invested in them.

On the other hand, anything in the Blue Mountain and Schuylkill Haven school districts seems to be in high demand. It's tough to get a good deal though because there are so many investors in the area. I was fairly surprised about that. They're all making cash offers with no contingencies also, which is tough for me to beat since I don't have that kind of capital yet. I'm in the process of learning more about alternative financing as opposed to a traditional mortgage or home equity.

I haven't done any other type of REI yet. I'm a full-time employee and almost-full-time student until I graduate in May, so free time has been at a premium. I've been sort of pushing everything else back until I graduate. I learned that I definitely need to work on my time management skills.

Glad to hear from a fellow "Skook"! Let me know if there's anything I can do for you in the future.

Post: New member from East Central PA

Ross MillerPosted
  • Pottsville, PA
  • Posts 33
  • Votes 8

Hi,

My name is Ross Miller. I'm a new investor from Schuylkill County, PA. I've been reading and listening to BP content for a while, but I haven't posted until now.

I'm currently in the process of selling my first "flip". It was supposed to be a buy and hold, but I've decided to sell it. I've made plenty of mistakes and decisions that I would now do differently, but I don't regret any of it. I've learned a TON from this experience by making those mistakes, and I should still make a reasonable profit.

I look forward to learning a lot more - both from BP and experience!