With everyone’s goal being financial freedom, most people think of real estate investment. However, real estate investment requires a lot of money and patience to realise your returns on investment. As a result, many companies have allowed everyone to invest through real estate investment trusts (REITs). In addition, there are best-paying jobs in real estate investment trusts.
Statistics show that the US REIT market contributed more than 2.9 million full-time jobs in 2020 and an income of $197 billion. Furthermore, REITs in the US raised 39 billion in the public market. That shows the opportunities available in Real estate investment trusts.
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Keep reading to unveil your career path in real estate investment trusts.
What are Real Estate Investment Trusts(REITs)
REITs are companies that pull funds through investors and invest the funds in an income-generating real estate property. As an investor, you don’t have to save thousands of dollars to invest in real estate. Instead, you can invest in REIT companies and start earning annual dividends.
A REIT company rents out properties and distributes the income to its shareholders (investors). To improve the security of investors’ money, every REIT company must meet the following requirements.
- It should be a corporation.
- No one should hold more than 50% of shares.
- Should have more than 100 shareholders within one year of operation
- REITs should pay at least 90% taxable income as investor dividends
- At least 75% of REIT’s revenue should come from interest on mortgages financing the properties, rents, or sales
- REITs should invest at least 75% of their capital in real estate or US treasuries
- Should have a board of directors managing the corporation
Most REITs give a return on investment of around 10.5%, which makes it a good career path.
What are the best-paying jobs in real estate investment trusts?
Real estate investment trusts have job opportunities for most careers in the US. Most people wonder if real estate investment trusts are a good career path. Well, whether you want a job in REITs depends on your desire to invest in real estate either directly or through REIT corporations.
However, we have a list of the best-paying jobs in real estate investment trusts in the US. Keep reading, and you may see your dream job in REITs.
- Development Managers
A development manager is among the best-paying jobs in real estate investment trusts in the US. Development managers are responsible for all developments within a REIT company.
In some instances, REIT corporations purchase raw land, which they develop into any type of real estate they wish. That’s where the job of development managers kicks in. They oversee all the constructions on the raw land. They also manage the operations of renovations and repairs within REIT premises.
To become a development manager in any REIT company in the US, you should have a Bachelor’s or Master’s degree in management, business administration, or related courses. Most REITs companies prefer someone with at least 2-3 years of experience.
A development manager in the US Earns an average of $135,580 as of February 2023.
- Financial Analysts
Every business, including real estate investment trusts, needs a financial analyst. A REIT deals with lots of money from the investors and their investments.
Remember that every business needs proper financial management to succeed. Therefore, financial analysts are among the best-paying jobs in real estate investment trusts.
The whole REIT fraternity keeps their hopes in the financial analyst because their calculations determine whether the business is making profits or losses. In addition, financial analysts determine the business’s future potential by analysing past and current financial reports.
To be a Financial analyst in a REIT company, you need a bachelor’s degree in accounting or finance, passing scores of CFA institute exams, and at least four years of working experience.
A financial analyst pockets an average annual salary of $134,144 in the US.
- REIT Analyst
Being a REIT analyst means you are responsible for analysing all properties under the corporation based on market research, past financial statements, and future projections. A REIT analyst will determine the company’s current income, pending mortgages, and valuations.
To become a REIT analyst, you need a bachelor’s degree in accounting, statistics, real estate, finance, or related courses.
You also need prior experience through jobs or internships in a dynamic company.
A REIT analyst in the US earns an average of $92,679 annually.
- A Real Estate Agent
A real estate agent is usually a link between buyers and sellers of properties. All REIT companies sell and buy properties with the help of a real estate agent.
Real estate agents know properties in different regions. For instance, a Pennsylvania real estate investment trust will search for agents in their investment region.
You should have excellent research skills as a real estate agent to get the best houses available. You should also go the extra mile to know why the seller is selling the property.
You can become a real estate agent, and you should possess a diploma or equivalent in real estate courses.
In most cases, real estate agents earn a commission after closing a successful real estate deal of buying or selling. Real estate agents earn an average of $66,596.
Every company needs an accountant to handle all financial transactions, from making purchases to paying employees and dealing with petty cash.
A REIT company needs an accountant who will work closely with the financial analyst to ensure the smooth running of the corporation.
To become an accountant in a REIT company in the US, you should have a bachelor’s degree in Accounting or finance-related courses. In addition, most employees prefer accountants with at least two years of experience in an accounting firm or REIT company.
An accountant earns an average of $65,298 annually.
- Property Managers
Real estate investment trusts invest mainly in rental properties, meaning they need many property managers. A property manager is responsible for overseeing everything happening in a property.
For instance, a property manager deals with tenant complaints and manages all the property activities like repairs and renovations. In the US, most property managers earn an average of $58,385 annually.
- Lease administrators
Most REIT companies lease their properties. As a result, they need a lease administrator to process lease agreements for their properties. A lease administrator keeps all lease records of a REIT corporation.
They also inspect the properties under lease agreements and see where renovations are due. In addition, it’s the work of a lease administrator to manage all activities involved in a lease property.
To become a lease administrator in the US, you need a bachelor’s degree in business administration, Accounting, finance or related fields. Furthermore, you need prior experience as a worker or intern in a recognisable company.
Lease administrators in the US earn an average of $56,255 annually.
Every real estate business needs property appraisers, especially when buying and selling property. A real estate investment trust needs property appraisers for its many properties.
A REIT company’s primary aim is to invest in lots of properties. As a result, they will always be buying and selling their properties in the US. That’s why they need property appraisers to help them know the actual value of properties.
When you get a property appraiser job in the US, you should learn how to determine a property’s value.
Property managers need to have a diploma in a related field. You should also have skills in all relevant courses in real estate. In addition, you should also pass all specification exams regarding real estate management.
Property managers earn an average of $49,242 annually.
You can be among the best-paid employees in the US if you decide to be a contractor. As a construction contractor, you will be responsible for all construction activities. You will plan, execute, oversee and inspect construction projects.
To be a building contractor, you should have a degree in a related course. You should also attend and complete construction classes. You should also have experience working in a construction firm. Furthermore, you should have a license showing you are an experienced contractor.
You can get a job in any REIT company developing its raw properties. However, you will sign the contract as an individual then you come with your team of builders. The REIT company pays you for the project, and you will pay your workers.
REIT contractors earn an average of $41,945 in the US.
- Customer representatives
Are you willing to be part of the real estate investment trusts career path? Well, being a customer care representative can see you join the big REIT corporations.
Being a customer representative means you’ll be there to answer clients’ questions. If you get a customer representative job in rental apartments, you will always report to the property manager the tenant’s complaints. In addition, when selling properties, you will represent the REIT brand to potential buyers. You will receive and make calls to potential clients on behalf of the REIT company.
To be at the customer care desk, you should have a diploma or equivalent and the required skills in handling customer cases. You should be patient and friendly because you represent the company to the outside world.
In the US, you earn an average of $37,683 annually from REITs.
How Many Jobs Are Available in Real Estate Investment Trusts?
You may wonder if real estate investment trusts are a good career path. The truth is there are thousands of jobs available annually from real estate investment trusts corporations.
According to Nareit, REITs contributed to 2.9 million full-time jobs in 2020 in the US and paid $197 billion in income.
The real estate investment trusts contributed an average of 3.2 million jobs through full-time employment and investments. The amount is constantly increasing and is expected to increase in the coming years.
Frequently Asked Questions
- Can I make a fortune through real estate investment trusts?
Yes. You can make a fortune from investing in a REITs company or being a ReITs employee. However, it’s always advisable to have multiple streams of income to complement your primary income. Therefore, as you work in REITs, ensure you have also invested some of your funds in REITs with good annual dividends.
- Is it better to work than to invest in a real estate investment trust?
First, you need to raise your capital for investment. So, yes, you can work in a REIT company as you raise funds for investment. Investing in real estate investment trusts requires a lot of money to earn huge dividends.
As you’ve seen, there are many opportunities in real estate investment trusts. You can study the required skills and apply for jobs on the REITs. The good thing is that you can learn and still become a real estate investor, directly or through REITs.
The best-paying jobs in real estate investment trusts are available if you are passionate about learning and doing the job. Let us hear your views in the comment section.
Are you willing to join real estate investment trusts? If yes, explore the jobs available and apply. Good luck with your job hunting!