Singing Pig

Hi All,

This may be an odd question, however from my experience there seems to be a lot of IT professionals who have gone into into property investment and BMV.

I recently went to a property investors meeting and it turned out that 8/10 used to work in IT. I have also seen lots of references to previous IT jobs on thread here on SP.

I was thinking...could this be because property investment courses have been so heavily marketing on the internet over the past say...5 years? Then assuming that IT guys spend a lot of time on their computer, thus on the internet they see so many routes and opportunities into property on the web?

Is it because IT pro's are more flexible in their hours of work? thus giving the opportunity to get into property?

Just a thought...

Are you an ex IT pro turned property investor?

Hi David.

Interesting subject!

Being an ex-IT guy myself, my thoughts...

Is it simply that IT is such a major employment sector now? (can't believe it accounts for 80% of employees though!?)

Is it that IT guys are generally highly motivated high-achievers with big aspirations, and can't find satisfaction in the thankless world of IT?  Being analytical thinkers, they readily identify BMV as a solution that ticks all of life's boxes.

I'll be watching this thread.  Hopefully I'll learn something about myself !?

Cheers,
Alan

maybe IT opportunties dried up post 2000 with the dotcom crash just as property developing (voyeur tv) was becoming vogue and lending loosening. I seem to recall a lot of people jumping onto the IT bandwagon as wages spiralled in the late 90s and property became the new one. Alot of people I knew in IT pre-1998 are still in IT.

Its just an observation from speaking to people who were in IT.
 

Thanks for the comments guys...

I think I was expecting more IT guys to come out the woodwork and chip in...

I didnt realise that IT accounts for 80% of the employment sector - thats staggering!...well that would account for the 8/10 IT guys that I have met then.

Any more takers ??...

David Beard:

I didnt realise that IT accounts for 80% of the employment sector - thats staggering!...well that would account for the 8/10 IT guys that I have met then.

I don't think that's what Alan meant - I think he was just commenting on the 8 out of 10 figure that you had originally quoted!

As an IT professional, also involved in property, I'd have to say that from my perspective at present, I'm not giving up the IT just yet! 

rc169:

David Beard:

I didnt realise that IT accounts for 80% of the employment sector - thats staggering!...well that would account for the 8/10 IT guys that I have met then.

I don't think that's what Alan meant - I think he was just commenting on the 8 out of 10 figure that you had originally quoted!

As an IT professional, also involved in property, I'd have to say that from my perspective at present, I'm not giving up the IT just yet! 

What made you get into property?  or how did you learn the skills ?? - thanks.

David Beard:

What made you get into property?  or how did you learn the skills ?? - thanks.

I suppose the turning point for me to become a landlord was when I moved out of my property, to another town, and realised that, even after 7 years of ownership, there was still a possibility of negative equity if I sold it. So I kept it, and let it out - quite successfully. Have subsequently invested more as the opportunity has arisen, with what could perhaps best be described as varying degrees of success. Skills? I wouldn't use that word - I suppose I would say that I have acquired some knowledge from reading, and naturally, more recently SP of course!

On a more general point, I imagine that property is a popular investment in the UK because people will not only be familiar with property itself, but also with the buying and selling process, due to the relatively high level of owner occupiers. By comparison, buying and selling shares (as an alternative form of investment, for example) may well appear to be complicated. Plus, of course, with property you have an actual, tangible asset - that presumably gives an investor some sense of security. I suspect that some of those who post on this forum, urging investors to get out of property before prices fall any further, fail to understand this 'natural affinity' to property, and property investment, that many people have.

However, that's wandered from the point - and, in any case, as I mentioned before, I'd better get back to my IT! 

I used to work in IT Sales. I moved to IT because the salaries were higher than other sectors. I moved to property because I believed I would make more money(I have).

In the nineties I had a lot of friends making disgusting amounts of money by contracting. This often ment they had more money that they could spend. Problem was they didn't have much common sense. Companies like Inside Track with their slick marketing were made for these people. (The belief in easy money by doing as little as possible) I don't have that much sympathy because these same people were holding companies to ransom by charging large fees.

So I think that some IT professionals have gone into this because they see it as easy money. I think that hard work is still needed to really make a BMV business viable. Now that it is difficult to get mortgages & they have over leveraged themselves with inflated RICS valuations with the two year trackers so they could pull money out on their previous purchases.

We will see the ex-consultants trying to hustle a six figure contract with their recruitment agent. IT has helped create Globalisation so Indian consultants will do it quicker & cheaper. Ironic dont ya think!

(Please don't be offended if you think any of the above descibes you. Its only my opinion)