Don’t own a house 😞, no capital yet but looking for a break into real estate investing 🤨? Get a career and work in the industry 🧐. Make an income, increase your knowledge, grow your network while building a net worth to invest. Jab, punch, break 💄 👠💰!
A Job, Really?
It’s easy to start investing if you already own a house you can #househack and live for free. You can rent short term to AirBnB for high profits, rent long term partially or fully to tenants or businesses for cashflow, sell the property for a profit and use that as seed investment capital through a 121 or 1031 exemption into a bigger property portfolio. You can use that property as a collateral for a loan / line of credit and easily use your house as an ATM- money stack machine for your next investments. That’s all great but what if you’re just not amongst the happy crowd that own a house or your peers that do don’t see eye to eye with you? How do you get started 😩?!
Let’s be real clear, no harassment needed… peace out ✌. You don’t have to have a JOB 😒 in real estate in order to be an investor. Being an Investor is actually “oppositely” predicated on working on the right side of the cash flow quadrant by becoming a business owner and investor not on working in a Job. But we are looking at HOW and WHERE to start at entry level here 😇!
Step Back, Leap Forward
A good place to start when you really have no other resources and absolutely nowhere else to start (like an inheritance, rich folks, peers in the industry, friends with benefits, a 401k, any pension fund currently based on the stock market, savings devaluating at current rates, valuable stuff piling up in your house you could monetize on e-bay, life insurance you could liquidate, downsizing so you would be more liquid or any other creative way you can think off to start a side hustle online) only then we believe you should look for a job as an income source to build your real estate portfolio. If by any chance there is a way that you could start a business or self-employment, we highly recommend you do that.
Having a job will make it viable to obtain bank financing so that you can purchase your investment properties with a loan rather than your own money. Having a job will also speed up the number of properties you can purchase because you’ll have income coming in regularly to stash away for the next down payment on the next property. Whereas someone with no job will take longer to save money for that next down payment. If you absolutely have to have a Job than it might as well be a career in the real estate industry to help you propel into your “Break Out” 🤗, don’t you agree?
As with everything start with the end goal in mind. Where do you really want to be? If you must than start trading your time (one of your most valuable assets) for money until you can make your money work for you and you can literally buy time by outsourcing hideous, time consuming, repetitive tasks. But have a purpose and have a clear and concise plan in place to execute on. Remember time is precious & priceless, our only finite asset, don't waste yours. Start doing today all that you can, with what you have to move your live with uttermost focus forward into the direction of that goal 🍀.
Career Opportunities
Next, we will look into some of the potential career paths briefly as you may find one that interests you for an income opportunity as well as the knowledge you’ll gain. We’ll set the optional growth paths expertise and business-wise and what we believe to be the better path made clear. There are many other career options possible (if they resonate with your skills or opportunities start where you can 🤐) but we are mainly interested in building investor’s skills for the long haul.
The Specialists Group
Real Estate Appraisal & Valuation
Real Estate Inspection & Code Enforcement
Real Estate Legal Experts
The Process or Service Group
Real Estate Agent & Brokerage
Property Management
Asset Managers
Portfolio Managers
Development and Construction
Real Estate Financing & Mortgage Officers
The Specialist Group
Appraisers
This career path is for those who want to learn how to value land and determine the value of real estate structures built on the land. An appraisal is important as buyers and sellers rely on this information when transacting a deal, and banks use this information when issuing mortgages to home buyers.
Inspectors
Homebuyers and loan originators will require inspections usually to make sure the purchaser is getting the property in fair condition or understands the faults of the real estate and can then use this information to get a fair market price for the property.
This may sound similar to an appraiser but consider inspectors also as people who have to inspect the property that has pulled construction or renovation permits with the city to improve the property.
The inspector must check the construction or renovation work that was performed and make sure it complies with code.
Real Estate Law
You could also study to become an attorney focused on real estate. There is a need for someone to draw up legal contracts and turn to for legal advice or to file lawsuits in real estate transactions. Most investors want to form a legal entity for their investment business and will turn to attorneys for help setting up the entity, for example, LLC’s or Corporations.
The Process or Service Group
Real Estate Brokerage
Many start out as real estate agents getting to know the local market under a broker and selling real estate for a great commissioned income. As a real estate sales associate, you’ll learn the local market, understand how to transact your own deals to earn or save money in commissions and you’ll build a network of industry professionals to tap into in your investing operations.
You start out as a sales associate hanging your license under a brokerage firm and then after two years usually, you can take education courses and get a brokerage license. You can then work under a broker as a broker associate or start your own firm and act as the broker, hiring sales associates to work under you.