Should I Quit My Job for Real Estate?
There’s a lot of people I know who, before even starting out, got so incredibly excited that they’re thinking: “I’m going to quit my job tomorrow”.
I feel I MUST tell you that in real estate, there are short-term and long-term money. I tend to be more the long-term guy. It took me four years to become a millionaire and then it took me 10 whole years to become a multi-millionaire! I didn’t do any quick flips or do any fast cash strategies because often, they have higher risks associated with them.
The common mistake I see people making is they quit their job early. They do this to free up their time which they intend to spend on learning the ropes of real estate investing. How is this a problem?
This is a problem because if you quit your job now with no expertise yet or enough knowledge of the ins and outs of this industry, you’ll be left with no job, no credible experience in real estate, and not enough money to at least soften the blow in case economy hits you!
While holding your current job, you must have started putting in the time to learn real estate and get a bit of experience. The time to quit your job is when your real estate is starting to pay you really good money… money that has POTENTIAL in giving you financial freedom in the long run.
I’m the kind of person that says “Hey, double down on your hours and work your full-time job, and rock your real estate and when it’s producing consistent, reliable income inside of a system for you, that’s when you maybe wanna entertain actually quitting your job.”.
As for me, I waited until my real estate was producing $12,000 a month and was outpacing my job, and then I quit my job.
Just don’t be the guy who’s got no job, no income, and no real plan. Don’t be the one that just jumps too early. Get a little bit of track record because you might find that one strategy works better than others, or you step into wholesaling or flipping houses and then find out “Oh man, this isn’t covering the bills as fast as I like it to be”.
Once you have good track record and you’re comfortable with your track,
that’s a good time to consider a transition.
Wednesdays are my favorite!
Why?? Because I get to show YOU new videos of HOME BUYING TIPS, REAL ESTATE STATISTICS, or some POWERFUL REAL ESTATE INVESTMENT GAME PLANS!
Don’t miss out.
Join us and SUBSCRIBE to my YouTube channel today!