1. #1
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    Default Real Estate vs Financial Advisor

    Hopefully I am posting in the appropriate area. Tried doing a search with something similar but have been unsuccessful. I am attempting to get some feedback from firefighters that either work as a real estate agent or financial advisor as a side job. I have always been interested in both and can not really decide which route I want to go yet. So before I begin studying for either my real estate license or section 7. I have a 48/96 schedule so I have enough time to do a little something on the side to make it easier to save up for children's college fund. Any feed back will be much appreciated.

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    I am neither but seems like real estate eats a lot of time , plus the up and down times


    Seems like financial advisor can even be done in down time at the station

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    I know nothing about the earning potential between the two, but agree with 49, financial planner seems like it would be a lot easier to work around your schedule. I imagine you could drum up a fair bit of business from other firefighters as well being familiar with the work and retirement systems.

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    Appreciate the response gents. Yea I am still stuck on a decision. I agree with the ups and downs for real estate but the reason I also wanted to get into that is to be able to have my own rental properties. As for business with coworkers it could be a possibility for future hires because the company I am looking at is the one that already provides it for us. That is what got me interested. I think I may end up just doing both and going from there. Again thanks to those that have responded.

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    Quote Originally Posted by fire49 View Post
    Seems like financial advisor can even be done in down time at the station
    Here, spending your down time in the station seeing to your day off business would not be looked on too kindly by the rest of the crew. It may be down time, but you're still on FD time.

    As far as having a built in client base of guys on the job, I'd be careful with that as well. I've seen more than a few day-off business dealings, from RE, to "can't-miss" investment opportunities, to mechanic work, construction, etc. go south, and it's not pretty. Remember how the FD grapevine works, have a bad dealing with one guy, and pretty soon the job knows all about it, even the "embellishments".

    As the saying goes, "don't sh-t where you eat."
    Last edited by sfd1992; 09-01-2014 at 05:13 PM.

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    Quote Originally Posted by sfd1992 View Post
    Here, spending your down time in the station seeing to your day off business would not be looked on too kindly by the rest of the crew. It may be down time, but you're still on FD time.

    As far as having a built in client base of guys on the job, I'd be careful with that as well. I've seen more than a few day-off business dealings, from RE, to "can't-miss" investment opportunities, to mechanic work, construction, etc. go south, and it's not pretty. Remember how the FD grapevine works, have a bad dealing with one guy, and pretty soon the job knows all about it, even the "embellishments".

    As the saying goes, "don't sh-t where you eat."
    I was thinking more like retirement training. We bring in financial planners to help employees understand their options, but often they are not particularly familiar with the peculiarities of our benefits. A firefighter should be more familiar with that than a run of the mill financial planner.

    I agree setting up investment portfolios for co workers could be problematic, both being blamed for losses as well as dealing with those who expect free advice. Potential for some conflict of interest issues.

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    Almost positive you don't have to be a real estate agent in order to rent out properties.

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    I believe you'll find that the education, training and licensing requirements are much more demanding for financial advisor than for realtor.

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