Good side hustles and other work to look in to?

  • 1.  Good side hustles and other work to look in to?

    Posted 05-26-2020 10:46
    I am a student enrolled in a land program in Montana, set to graduate in a year. With the current downturn in industry, I am looking into other industries as a backup in the event that getting started in oil and gas takes longer than anticipated (which I imagine it will.)

    I have been following some of the discussion here, and it seems like quite a few of the members have worked in the real estate and legal fields. Would some of the more experienced members say that these are good alternate fields to look at? I have been looking at title insurance as well, is this something that is viable for aspiring landmen? What are some other fields outside of oil and gas that typically have work during a crash?

    Thank you to anyone who has advice and is willing to share.

    John Belland, Land Student
    Butte MT

  • 2.  RE: Good side hustles and other work to look in to?

    Posted 05-27-2020 10:58
    Hi John,

    I wanted to reply to you since I see you're in Montana and I'm an alumnus of the University of Montana (GO GRIZ).

    You're spot-on with the look at law and real estate. That's essentially what landman work consists of, anyway. I would posit that any position you can find where you are doing "landman-related" work is worthwhile if you intend to get back after the pandemic. If you can get experience pulling title, doing abstract work, that's useful in a variety of contexts. Being familiar with the technical side of surveying and GIS won't hurt either. Increasingly, mapping and data are becoming a large part of land and energy work; if you have the stomach for some SQL and other database training that can also be applied to other positions not necessarily oil and gas.

    Wes Temby
    ROW Agent
    Penn Valley CA
    (415) 407-2515

  • 3.  RE: Good side hustles and other work to look in to?

    Posted 05-27-2020 10:58
    Insurance is a tricky business to get into. In most cases you will be treated as an independent contractor and therefore not eligible to receive benefits. At worst you'll be on a strict commission pay structure that will be tough until you establish a large client base, which can take years to develop. Since you are still a student I would see if you could get an internship in a field outside of land that you think might interest you. Based on the trends I've seen, anything finance related is in demand right now.

    Zack McRaney
    Collins MS
    (601) 498-8375

  • 4.  RE: Good side hustles and other work to look in to?

    Posted 05-28-2020 13:26

    I could be wrong here, but I thought the CARES act took care of independent contractors.

    I have two friends in Wyoming that are independent contractors. From what they explained to me is they had to file through the State unemployment and get denied, but the CARES act they get approved through. They both are receiving $600 per week and both of them got a back dated amount of roughly $7000 from when their respective brokers ran out of work. Again, I am unsure what every State does. 

    The PPP loan program is also available...albiet may not have much money independent contractors. I own a brokerage in Wyoming. Our brokerage filled out the application for the PPP loan and received money to pay our employees. Myself and my two partners are not considered employees because we do not pay ourselves a salary. We all filled out the application for our own LLC's. We all 3 were approved for the PPP loans and received money.

    Joseph Tessaro

    307-685-3702 Office

    303-356-2605 Cell

  • 5.  RE: Good side hustles and other work to look in to?

    Posted 05-28-2020 13:23
    If you good with people and like sales, I would look into Real Estate. What about wind/solar? There could be a future there also. Be encouraged oil and gas isn't over-we still need it more than ever! But you are VERY smart to diversify.

    Our CFO got her Land Management degree (mid 1980's) and with the downturn in O&G went back to school and got her CPA. Great majors and she is a very diverse, valued leader at our company.

    Best of luck,

    Michelle Smith
    VP Land
    The Quiat Companies
    Denver, CO
    720 723 2770

  • 6.  RE: Good side hustles and other work to look in to?

    Posted 05-28-2020 13:25
    Look carefully at what you are learning and how things were done in the past (which is all that can be taught)

    In the bust of the 80's, I was a recently unemployed(fired) Land Manager for 2 divisions of a mid-sized company who had just learned the hard way
    that the CEO didn't like being called a crook - especially to his face.

    Sooo... I rented a small office, got a phone (a land-line back then) looked around and found an old producing area that people had been going through and buying minerals in for 80 years, but still had good production and reserves. There was little success buying minerals because everyone was making their offers the same way.
    I solicited a few investors to spot my initial research, worked my ass off both harder and smarter, kept a 10% commission, and determined out how to make my offers more than trash can material, without spending any more per acre than anyone else (usually less).

    We bought a fair amount over several years, then another company reverse-engineered my system and began offering 10x the $, so we sold 1/2 of our interests to them, banked the money and moved on to the next activity. The rest of those interests are still producing and paying 40 years later.

    If I had done the same thing everyone else had, all pain, no gain. Look at Elon Musk, Bill Gates, Apple, they innovate, not imitate and none of them started big.

    For interest, right now many people are being lazy and using the tax rolls as a data source to make purchase offers, and it shows.
    Poor information, no knowledge of the title, no knowledge of the production, writing to dead people, etc. so it goes directly to the trash can.
    Basically like a telemarketing or direct mail campaign. The loose OPM is gone, people will have to really get into the Oil & Gas business or find something else to do.

    Investors of any ilk are now going to be a lot more wary of the 'buy and flip' nonsense, but they will always be around for sound investments, in good times or bad.

    p.s. My firing was the best career move I could have made - at that time, the second best move was getting hired and working my way up through 2 good medium sized
           companies to learn the business of the oil business.
           However you go forward, keep your head on a swivel and look around, there are always opportunities galore for those that can spot or create them.

    p.p.s. Calling the boss a crook to his face is not a good career move unless you are actually ready to leave, just sayin....

    Mark Hannifin
    Midland TX

  • 7.  RE: Good side hustles and other work to look in to?

    Posted 05-29-2020 11:17

    I did the same thing but still relied on daywork to pay the mortgage. Made the mistake of cooperating with Bank, signed liens on my production, they had none, and then asked to go to interest only. They called my loans. The thing that surprised me was that I attempted to broker production to folks in Midland who actually had money and their only response was "How are you finding all these Sellers?" They should have worked with me and they would have made a lot of money.

    I now manage my portfolio of minerals and royalties, most owned in 1985, which the bank valued at Zero! First and foremost, stay out, of debt!

    Bruce W. Blake, CPL/ESA

    Bruce Blake CPL/ESA
    Liberty TX
    (936) 336-7040

  • 8.  RE: Good side hustles and other work to look in to?

    Posted 05-29-2020 09:12
    I've seen alot of opportunities for Land Surveyors, commercial property managers and for professionals working with property developers.   Those seem a close fit, and maybe opportunities right now?

    Rita Buress CPL
    Midland TX
    (432) 557-6411

  • 9.  RE: Good side hustles and other work to look in to?

    Posted 30 days ago
    John, others would be better at giving you suggestions, but I wish you the very best of luck.  Unfortunately, this business is a series of booms and busts, but there will be brighter days ahead.

    For those looking for things to do during these slow times, I'm looking for quality producing minerals to buy.  I'm paying a commission on properties that you bring me that I close on.  For more information, email me at the address below.  Thanks.

    Robert L. Burns, Jr.
    Oil & Gas Properties
    (682) 502-4703
    P.O. Box 80085
    Keller, TX 76244

    Robert Burns
    Keller TX
    (682) 502-4703