A short introduction, and some quick questions.
Hi,
My name is Kevin and I have been interested in beginning a career in real estate for awhile now. I plan on signing up for the course and working towards becoming licensed within the next few weeks. I have been doing A lot of research regarding real estate. I would like to be a full time agent, but unfourtantly do not have the funds available to support me whole starting out. I currently work full time at a job that pays slightly above minimum wage but offers good benefits. (Bear with me because I'm gong to he discussong several different things). My current full time job, I work 4 ten hour days with 3 says off. I also get A lot of paid time off and unpaid time off and the company is very flexible when it comes to using it. I know being an agent part time is especially hard.
I'm also interested in investing and would like to house hack a 3 or 4 family house as my first home purchase. I'm currently working on building savings and repairing my poor credit.
My company offers 401k with company matching up to 4% which I have currently maxed out, however, the company matched portion is not vested until after 3 years. (I'll be coming up to one year within several months). They also offer 2 shares of restricted stock units after every year which vest after 2 years. Currently each share of stock is around $1,800 a share and it is very steady.
My plan is to stay with my company full time. For two more years in order to receive the benefits they offer. Work as an agent part time to learn the business and earn extra income. Then after 3 years with my company take a loan from my 401k, and cash out on the 6 shares of stock which will have vested by then it use it towards my first multi family home purchase. By then I also hope to have more money in savings and a good credit score. I realize a loan from your 401k must be paid back within a certain time frame plus interest to yourself but I don't see this as difficult considering I should have several streams of income by then.
I was just wondering if anyone has any advice comments or insights regarding my plan.
Thank you.
Kevin.