Behind the Scenes of a Real Estate Investor in a Family Business – JobGuppy
Summary:
Jason Grote, a residential real estate investor, shares insights into his entrepreneurial journey in the real estate industry. He discusses working with family, balancing office work and field work, and the process of real estate investing. He also highlights the financial challenges and the importance of budgeting. Jason emphasizes the need for fortitude and self-drive in entrepreneurship and the un-glamorous side of the real estate business. He provides advice for newcomers, including the importance of networking and finding a niche that interests them. Jason reflects on his own experiences and offers insights into creating a successful career in real estate.
Career advice:
– Working with family in a real estate business can be successful if roles and responsibilities are clearly defined.
– There are many ways to get involved in real estate investment. So find your niche and focus on that.
– In Jason’s opinion, look for the areas of real estate that interest you the most to help find your niche. If you do it just for the money, it may not last.
– It takes time. And once one door opens, it starts leading to other doors opening.
Residential Real Estate Investor Description:
- Working with a realtor to buy and sell residential properties.
- Working with contractors to remodel property.
- Working with financial entities to fund investments and finance remodels.
Educational Requirements:
- A college degree is not necessary for this career field.
Certifications & Training:
- None specifically required other than keeping up with new developments in your target market base.
Skills Needed:
- People skills because you will be interacting with a lot of people throughout the processes of investing, remodeling, buying, and selling.
- It can help if you manage the work as your own general contractor.
Job Roles Associated with Real Estate Investing:
- Primary Real Estate Investor
- Mortgage and Finance
- Inspector
- Realtor
- Apartment Locator
Websites and Forums
Income & Salary:
- ZipRecruiter is showing 85k as the average and $114k for a top earner in the Houston, TX area.
- A MotlelyFool article is stating $70-$124k.
Get in Touch
Podcast Chapters
- 00:00 Introduction
- 02:40 Company Overview
- 03:47 Roles and Responsibilities in Residential Real Estate
- 06:54 Traits and Skills for Success in Real Estate
- 07:27 Challenges and Lessons Learned in Real Estate
- 10:53 The Reality of Real Estate vs. Glamorized Perception
- 14:33 Passion for Real Estate and Working with People
- 15:48 Certifications in Real Estate
- 17:25 Resources for Learning and Networking in Real Estate
- 20:55 Advice for Newcomers in Real Estate
- 22:15 Importance of Higher Level Goals in Entrepreneurship
- 24:44 Finding Your Niche and Enjoying the Real Estate Journey
- 27:23 The Wrap-up