Day job while trying to get start

5 Replies

I'm a senior in college looking to graduate this spring and just getting started in the real estate investing business looking to buy my first single family home in my college town that is growing. I'm wondering if after graduation I should pursue a job if I know this is my passion and what I want to do with my life. I'm considering a trade or becoming a realtor to help with my future goals. Any suggestions on what to do when you're getting started and getting a job or not?

I think that this is all about preference. Investing in real estate is not always an immediate cash flow business. Becoming a real estate agent is also not always a cash flow business. Most real estate agents I know work 80 hour weeks and some it takes a good year or two before they have enough cash flow to really feel financially secure. I think the best way to figure out what you want to do is to weigh out your pros and cons for each path. Consider all costs to get started on each path and do some soul searching.

@Austin Wheat Why not do both? If you know you are interested in real estate, get a job at a company that is involved in real estate. This can be, property management firms, real estate broker agency's, real estate data companies, construction companies, lending institutions, appraising companies, etc. Use what you have and join a company that furthers your long term vision of where you want to be. 

Having a W-2 is very powerful. It allows you fund your dream on your time. Jumping into real estate with out funding or a W-2, can be hard however not impossible and many have done it. This being said, I think doing both is the way to go. Build upon what you know and have.

Hope that helps!

Thank you very much Mr. Levarek, it did help a lot. Thank you for the list of possible jobs that would be helpful in my long term goals. 

Another question I'm struggling with is if I should open an LLC or a corporation S? Also, if I should open either when first starting out on my first home investment.

Thank you very much Mr. Levarek, it did help a lot. Thank you for the list of possible jobs that would be helpful in my long term goals. 

Another question I'm struggling with is if I should open an LLC or a corporation S? Also, if I should open either when first starting out on my first home investment.

@Austin Wheat don't worry about what business type to open, business cards, website, etc. Get a W2 job where a lender can prove your income and start with a househack. Maybe get your real estate license on the side and work 80 hour weeks until that income exceeds your W2 income. W2 is incredibly important for getting started if you want to buy anything in the next 2-3 years.

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