When it comes to real estate investment careers, some don’t realize how many jobs are involved. Most think the only way to get involved is by becoming a real estate agent. Luckily, there are SO MANY different jobs that can fit your schedule, commitments and most importantly, your personality! We’re here to discuss 5 common real estate investment careers that Canadians are doing to live life on their terms!
There are two different types of investors:
Active Investor: these types of investors are most common to real estate. Becoming an active investor as a real estate investment career entails short term home ownership like flipping homes. This means that the investor will buy a property that has great potential, and fix it up with whatever renovations are required before putting it back on to the market. This type of real estate investment career requires a lot of involvement and a lot of time.
This is not your regular 9-5. The investor needs to efficiently prioritize their time, as working with others to help fix up the home can cost not only a lot of time, but money as well depending on the market!
To be an efficient active investor, the investor needs to make sure they are confident and disciplined. They need to make sure they can tell the difference between an amazing opportunity and one that lacks potential. Most times, their skill is gained by time in the market. The more experience an investor gains, the more it is represented in their earnings.
Passive Investor: A passive investor as a real estate investment careers implies that the investor will generate more wealth through home equity. By building home equity, the investor is securing long term wealth, compared to an active investor that generates the amount of income depending on how much they work. Passive investors are not as involved in the nity grity details that is traditionally seen in active investment.
Many times, a passive investor can be seen in REIT (Real Estate Investment Trusts). A REIT is a great idea for investors that don’t want to deal with the hussle and bussle of collecting rent, fixing up properties, and knowing all the right people to trust. Investors utilize REITs by simply buying shares in the stock market and generating an increased dividend.
Average salary: Can be negative or can be millions!
A residential real estate appraiser estimates the market value of various types of properties. This can be both commercial as well as residential. This is a great way to help those in selling their home from a personal as well as investor perspective.
To become a real estate appraiser as a real estate investment careers in Canada, the individual would need a bachelor’s degree, an online course for residential appraisers, as well as one year of experience working with someone who is already a qualified real estate appraiser.
Finally, after this process, the individual would need to take an exam and interview.
This is a lengthy process, but it ensures that the soon to be residential appraiser will be extremely knowledgeable about how much properties are worth in the current market. In addition to this certification and career, the individual going through this process will know how to make better investments not only for others, but themselves as well!
Average Salary: CA $52K
A property manager works for the landlord to find and evict tenants, as well as multiple other tasks dictated by the landlord.
This can be a simple as house sitting while the property is unoccupied for long periods of time, collecting rent, or it can be somewhat complex, like generating reports for the landlord and paying necessary expenses and taxes.
Sometimes, a property manager needs to be certified depending on the area you are living in.
Average salary: CA $60K
If you’re one for the routine 9-5 with consistent tasks and reliable salary, look no further than a real estate investment analyst as a real estate investment careers!
This career requires workers to have well developed analytical and communication skills as presenting and report writing are big components in this role.
Although it depends on each organization, this role requires workers to complete tasks like preparing financial models, being able to project cash flow given market research data, estimate investment returns and summarize 3rdparty market data.
This real estate investment career generally requires a university degree in business or real estate, with a good understanding of real estate fundamentals.
Average salary: CA $51K
There is a definite thrill of making a big sale… and it is addictive! As a real estate agent, you need to be a confident and motivated worker. Like an investor, you make as hard as you work. When you start out, it is likely that your sales will be lower than what you expected, but you can’t give up! Being a successful real estate agent requires not only knowledge, but persistence. The longer you are involved in this market, there more potential you have to succeed.
To become a real estate agent, it will take about 4 years to become licenced. To apply for this program, you would need to either have an Ontario Secondary School Diploma or be at least 18 years old and have passed the OREA Real Estate College Admissions Test with a passing grade of at least 50%. This whole process costs around $6K, but it is well worth the investment in the long run!
Average Salary: CA $60K
There you have it! 5 common ways that people are getting involved in a real estate investment career. Real Estate has potential for everyone, if have all the time in the world or not, if you have lots of disposable money or not, there is always a way to benefit of the massive growth in Southern Ontario.
In addition to being knowledgeable about the current real estate market, it is also important that you know who has you back! Here at Rock Star, not only do we have almost 20 classes about different topics in real estate, but we also have a great team of experienced and knowledgeable investors to support you through your investing journey.
Click here to get more information on a free real estate investing class and start living life on your terms.