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Posted about 8 years ago

Unemployed?

So it's not looking good for the future of the oil and gas business. There is only one more short project on the books for our company, which I might or might not be on. So there's a good chance that this project might be my last. I have about 10 days of work left and then I could be sitting at home for a while.

I've been told by colleagues that there might be some land work, so that's my backup plan, but I'd rather do real estate full time. This will be a discussion with the wife.

The good news is that my wife owns her own company and does very well so financially we are okay. The other good thing is I can actually be home, renovate the house I bought and work on real estate full time. 

I have told myself every year for the last 5 years that this year would be the last year I spent working in the field. This might be what actually pushes me to keep my word this year.

So the plan is to renovate the house, rent it out, refinance it to pull out the equity and then find my next house to buy. At the same time, I will be driving around Houston and looking for a small apartment complex to buy. I would like to move into multi families right away. Since Houston has very little in regards to duplexes and fourplexes (except in war zones), my focus will be small apartments. 


Comments (3)

  1. How's it going? Any updates? I'm in Oil & Gas too and facing possible layoffs this month. Not sure what the future holds.


  2. Congratulations, Simon! Life has just handed you an opportunity. Okay, it doesn't feel like it right now (it probably feels bad right now) but I can't even count how many ultra-successful investors have been in exactly the same situation as you -- seemingly dire employment circumstances that launched their real estate empires. If you take action during this time, you'll look back on this time and wonder why it took you so long to get started!!! 

    All the best during this challenging time, Simon. Keep pushing!


  3. Maybe your lack of work is a blessing. It will allow you to jump into real estate full time.