Personal Development

3 Reasons to Quit Your 9-5 to Invest in Real Estate Full-Time

Expertise: Real Estate Investing Basics, Personal Development, Landlording & Rental Properties, Real Estate News & Commentary, Business Management, Flipping Houses, Real Estate Deal Analysis & Advice, Personal Finance, Real Estate Marketing
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G’day, everyone.

I hope you’re enjoying the weekend and dreading going back to work on Monday. Yes, I hope you’re dreading to go back to work on Monday. Working a 9-5 will not get you financial freedom or allow you to live life on your terms. Investing in real estate will. Now, for all of you folks who love your job and don’t have enough reasons to hate it yet, I have complied a list of the top three reasons why you should quit your 9-5 and become a full time real estate investor.

So let’s get the ball rolling…

People seek real estate investing for various reasons.

Here are the three major reasons I’ve found that compel most people to quit (or decide to replace) their day jobs with real estate investing.

3 Reasons to Quit Your 9-5 to Invest in Real Estate Full-Time

Reason #1: Working for someone else stinks.

“If you don’t build your dream, someone will hire you to help build theirs.” – Tony Gaskins

I used to be a laborer on construction sites. From sunup until sundown, I’d be sweeping floors, loading dumpsters and clearing construction areas of any debris. I would get abused, bullied and even spit on by the other laborers.

I knew this was no life for me. I’d never truly be happy “caged” into these 80-hour work weeks. I had goals and dreams to fulfill. I had a burning desire for MORE… and sweeping someone else’s floors wasn’t going to get me there.

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Every morning I would see my boss stroll in dressed in his fitted Italian suits and leave in his luxury car. I decided that I was tired of spending my time working 80 hours each week, assisting someone else with growing their goals and dreams.

Related: I Quit My Day Job, Retired Early & Started a New Venture Using Real Estate: Here’s How

I wanted to start working on my own! I’d always been intrigued by the freedom and possibilities real estate had to offer. And thus I began dedicating all of my free time to teaching myself every aspect of passive income and real estate investing.

Within a short amount of time, I developed my first real estate company called “From Sweeping Floors, To Owning Doors.” (Haha, any guesses on how I came up with the name?)

Reason #2: Who doesn’t want freedom to do what you want, when you want?

Real estate investing and passive income offer true freedom. Freedom to choose your own hours. Freedom to achieve your dreams and reach your goals. The dreams you have for yourself and the goals set in place for your family ARE attainable through this. Retirement goals and future financial security are all in YOUR control and cannot be dictated by some HR department 500 miles away.

Real estate investing offers a freedom of unlimited potential for creating a lifestyle that is completely up to you and your own effort. Like most things, the market has ups and downs, but people will always need a place to live, whether they own the property or rent it out. You know you’ll have real “job security” because you can’t remove a basic need.

Reason #3: There is NO LIMIT to how much you can grow with investing.

“There is NO LIMIT to what you can do, the only limit is you.” – Engelo Rumora

Working a 9-5 limits you to how much money you can make. Even if you work 24/7 for 365 days out of the year, the set role you have in your job will limit you to a set hourly rate, which will be very difficult to exceed.

Starting your own real estate business or becoming a full time real estate investors allows you to live life on your terms without limits. For example, you can buy, fix and flip one house per year or 100 houses per year. You can wholesale five houses per month, making a $5,000 profit on each, or 20 houses per month. These results will ultimately come down to your hard work and sacrifice. But truly, there is no limit to your success.

Related: How to Quit Your Job & Invest in Real Estate Full Time: Steps 1, 2, & 3!

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Conclusion: Just Do It

“Everything we want is on the other side of fear.” – George Addair

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Too often the risk of letting go and the fear of failure hinder great things.

Realistically, only a small percentage of people are able to get past their fear and pursue their dreams on their own.

Don’t let fear stop you from achieving your goals. Embrace the fear and JUST DO IT.

Opportunities in real estate have enabled me and my family so many great things. The very best thing is knowing that the dreams I live each day are a direct result of my work — and no one person or company may ever take that away.

logoman1024w(Hey! Just in case you don’t feel like quitting your 9-5, but still want to invest in real estate, then make sure to join this week’s FREE webinarHow to Invest in Real Estate While Working a Full Time Job!  Thousands have already saved their spot! Click here to save yours 🙂 

 

Investors: What would you add to my list?

Be sure to let me know with a comment!

Engelo Rumora, a.k.a.”the Real Estate Dingo,” quit school at the age of 14 and played professional soccer at the age of 18. From there, he began to invest in real estate. He now owns real estate all over the world and has bought, renovated, and sold over 500 properties. He runs runs Ohio Cashflow, a turnkey real estate investment company in the country (Inc 5000 2017 & 2018) and is currently in the process of launching a real estate brokerage called List’n Sell Realty. He is also known for giving houses away to people in need and his crazy videos on YouTube. His mission in life is to be remembered as someone that gave it his all and gave it all away.

    Cheryl C. Investor from Reston, VA
    Replied about 4 years ago
    This sounds very attractive – but…very difficult to achieve, particularly for newer investors. Sometimes I cringe when I read posts from new investors gung-ho to drop out of the corporate world to pursue REI full-time. Sure, there are stories here of people doing just that and being very successful. I would argue that only a very small minority succeed. It’s not my intent to discourage this dream but only to address the risk of losing the solid income, health and retirement benefits of retaining your 9-5 while you gain experience and grow your portfolio. If you have a spouse that brings home a paycheck it is realistic to jump-in, provided that income covers living expenses. IF your cash-flows supports you, you are simply buying yourself a job and may or may not be accumulating the wealth needed for true financial freedom. Just my two cents…
    Brandon Hall CPA from Raleigh, NC
    Replied about 4 years ago
    100% agree. Not to mention that once you quit that steady W2 job you can kiss conventional financing goodbye. This article would have been more impactful if it also addressed the negatives of quitting the W2 to go full-time into REI. I’ll do it eventually, but it take strategic planning, not a “just do it” attitude.
    Engelo Rumora Specialist from Toledo, OH
    Replied about 4 years ago
    Thanks for your comment Brandon, My perception is obviously different to yours and Cheryl’s. I succeeded as I put myself in a desperate position of not being able to go back. Desperate times call for desperate measures. When you don’t know if or how the next $$$ will come to you is when you really make the magic happen. Thanks and much success.
    Engelo Rumora Specialist from Toledo, OH
    Replied about 4 years ago
    Thanks Cheryl, I have personally always had the “Nothing to loose” attitude. My worst case scenario was failing and going back to laboring on dirty construction sites to make a living. At the end of the day we all end up in the same place and can’t take anything with us. I also knew that I never wanted to be on my death bed and think about how I should have taken more risk in my life. So far so good and if nothing works out for me and my real estate endeavors in the future at least I can look back and say “S#$%, I really gave it a good crack” Thanks and have a great weekend.
    Engelo Rumora Specialist from Toledo, OH
    Replied about 4 years ago
    Thanks Andrew, Have a great day.
    Gavin Peacock Investor from Portland, Oregon
    Replied about 4 years ago
    You have to read this blog very quickly, and in a very loud, very strong Australian accent to appreciate its full effect. I did, and I feel pumped! Brilliant stuff, as always, Engelo. I hope you’re going to do another podcast very soon!
    Engelo Rumora Specialist from Toledo, OH
    Replied about 4 years ago
    lol Thanks Gavin, That’s it mate and you must grind your teeth and feel intense also haha I think it will almost be a year since I did the first one so I might hit up the guys and see of they want to do another one. Thanks and have a great day.
    Frank Romine from Visalia-Fresno, California
    Replied about 4 years ago
    When I bought my first rental in 2008 I looked at “worst case scenario”. When I left my day job I looked at “worst case scenario”. Frank
    Engelo Rumora Specialist from Toledo, OH
    Replied about 4 years ago
    Same here Frank, If I can live with the worst case scenario I tend to proceed. To this date I can’t remember a time where I couldn’t live with the “worst case scenario” haha Thanks
    Monique Correia Investor from Laguna Beach, California
    Replied about 4 years ago
    This is great, Engelo. I’d counter those who say ‘proceed with caution’ to take inventory of their relative conditions. The prerequisite to make any new job a success is education and motivation. For those who are young and thinking of leaving the 9-5 job, I feel you can always get another job if you cannot make REI work full time. But my perspective is from the tech/media industry, where jobs are a plenty and growing, and I have no fear of landing another job if I have to. Someone else’s situation may differ, and the risk of leaving the security of a 9-5 salary might be too risky. Either way, don’t let fear dictate anything.
    Engelo Rumora Specialist from Toledo, OH
    Replied about 4 years ago
    Thanks Alex and I agree, I had nothing to loose because I was S#$% kicking laborer. Someone that has a more higher end job might think otherwise. Still, I always wanted to live life on my terms no matter how much $$$ I could have been making in a job. Thanks
    John Yanko Investor from Clarendon Hills, Illinois
    Replied about 4 years ago
    Awesome read! Thank you!
    Engelo Rumora Specialist from Toledo, OH
    Replied about 4 years ago
    Thanks John, Have a great day.
    Juan Martinez Agent/Investor from Lehigh Valley, Pennsylvania
    Replied about 4 years ago
    “If you can dream it, you can do it” Walt Disney. Thanks for Sharing Engelo!
    Engelo Rumora Specialist from Toledo, OH
    Replied about 4 years ago
    Great quote Juan, Thanks and have a great day.
    Colin Smith Realtor from Colorado Springs, CO
    Replied about 4 years ago
    Definitely an encouraging article. I look forward to quitting my 9-5 in the next few months!
    Engelo Rumora Specialist from Toledo, OH
    Replied about 4 years ago
    Thanks Colin, Keep the dream alive no matter how tough it gets 😉 Have a great day.
    Tyler Laugherty Real Estate Agent from Knoxville, Tennessee
    Replied about 4 years ago
    Good article @Engelo Rumora! I think this article is most impactful for those whose personalities are “I have to get out (of the W2) and I have to act now!” For those who are not sufficiently burnt-out, then this approach seems overly rash. I think the correct answer lies in choosing the path that fits you and what you need to succeed. If your mental makeup is such that you have to burn the bridges behind you to move forward, then that’s what should be done and vice versa. We should do what works for us. PS- My W2 job is ending in under a year so the decision has been made for me already. Ha
    Monique Correia Investor from Laguna Beach, California
    Replied about 4 years ago
    Good point, Tyler. Some of us are ready now, but many are contemplative.
    Engelo Rumora Specialist from Toledo, OH
    Replied about 4 years ago
    Thanks Tyler and much success with your endeavors. It sure makes for an interesting life when you have to chase the next $. I’m sure it will bring the best out in you just like it did in me. Have a great day.
    Jeff Chu from Millbrae, California
    Replied about 4 years ago
    I fully agree with you! ! Everything your dreaming of is just past the edge of fear ! No Guts No Glory
    Engelo Rumora Specialist from Toledo, OH
    Replied about 4 years ago
    Thanks Jeff, My break through moment came when I thought all was lost and that I could never get out of the mess I was in. One phone call, email or meeting can change a persons life forever. I always tell everyone to commit to the numbers and to leave nothing on the table. Do the absolute best you can with what you’ve got. Thanks and have a great day.
    Ariq Sharif Specialist from Middletown, DE
    Replied about 4 years ago
    Great Blog! I wrote a blog about a week ago “Don’t Quit Your Day Job? Why Not!” and you confirmed what I was trying to convey. Fear is a HUGE stumbling block and getting past it take a lot of determination and will. Sometimes we look at a job as security when in actuality it is anything but secure. Thank you for the great blog.
    Engelo Rumora Specialist from Toledo, OH
    Replied about 4 years ago
    Thanks Ariq, Fear is our worst enemy while risk is our best friend hehe Have a great day.
    Mario Mormile Investor/ Real Estate Agent from Burton, Ohio
    Replied about 4 years ago
    Engelo- Great post! I am of a very similar mindset: being in a tight spot where I have added pressure on me, pushes me to really give it my all. If not hungry, than I tend to be too content. Thank you! Mario
    Engelo Rumora Specialist from Toledo, OH
    Replied about 4 years ago
    Thanks Mario, Much success with your future endeavors.