Hi everyone, As I have returned back to work in 2012 I have found myself staring blankly at my computer monitor. Yep, maybe it’s the post holiday blues or the 500 emails calling my name..However, I have been thinking about this for some time now.Today I have decided to change the direction of my career and actually do some I like.After 12 years in the Telco industry it’s time for a new challenge. Don’t get me wrong the high flying action packed lifestyle of an IT worker will be missed …hehehe ;-P Ever since I was a kid I have been interested in property. I own a number of investment properties and have done a couple of small developments. I have project & people management experience in my current job. So the big question….
How do I make the transition? Has anyone on the forum been down my path?
Looking at the most of the development management jobs online all require Uni degrees in related disciplines What else can I do? Soooo keen to hear your thoughts? Thanks, Stoolie
Hi Stoolie.
Please don't be scared when I tell you this, but: this may be difficult.
I'm not sure how old you are, but you say you have 12 years in the Telco industry? So I'm going to say around mid 30's?
Not all success in the property industry requires a Uni degree. A prime example is Steve McKnight himself. However, if you're looking to get into Development or Management, a Uni deree is advised. You don't just jump straight into the job, you need to know the bare minimum essentials on things like the market, research, costs, risks/return, leases, laws etc. On top of this, employers usually look for experience in your field of interest when applying for a job in said field. This can often be worth more than the degree itself.
However, if you want to get into sales. You can do a 6 week TAFE Diploma program. Once you have that, you're pretty much guaranteed a job in any residential real state firm. The tough part is building up your repore, spreading your name around, to get people to trust you to get the maximum price for the minimum comission when selling their house. This may seem easy, but not really in todays conditions as opposed to 10-15 years ago….
In property especially, it can be more of a case of 'not what you know, but who you know' sometimes.
That's my 2 cents anyway. Good luck!
Hi Stoolie,
Well done for taking the big leap!!
By any chance have you thought about doing online courses/ distance studies while you are working or maybe studies in the evening?
Like yourselve, I came to the conclusion that I wanted to change my current career path and making the transition by studying in the evening as well as distance to further educate myself. I know it may take abit of time and using your holiday leave to use it to study for exams and assignments but I think it is worth the hard work!!
I’m in a similar position to you, but am trying to take a slightly different path getting there.
I am doing small developments, currently have 3 and trying to set up a 4th at the moment. The first one will be completed by the end of this year and I expect that the net income generated by this one development will replace my current 6 figure salary in middle management at a bank.
I lined up developments 2 and 3 by getting others to invest money, I find the development site and manage the process, designs etc to ensure a great profit, which is shared with the equity partners.
Life is pretty crazy at the moment and it is very hard to concentrate on the day job, but with the light at the end of the tunnel in sight, I am willing to accept the long hours over the next year to eventually leave my current job.
I was looking at development management jobs too, they pay well, but always require an engineering degree or similar. Another thought I had was trying to find a large property investment fund, source deals for them in return for a salary and a share of the profits. I know of a guy that has this kind of role, but I imagine it is very much about who you know.
If anyone knows of this kind of opportunity, all of my current development projects are returning around 40% on costs and I can source many more that would fit this profile or better and are in high demand property sales locations in Australia. I would just need a decent salary and a share of the profits and I would be happy to manage everything on the developments on your behalf.
Cheers,
Matt
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