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Updated over 2 years ago on . Most recent reply

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17
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Shane Benson
17
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22
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Need help, What should I do for the next 9 months?

Shane Benson
Posted

I am going into my senior year in college, and confused on what to do right now. 

I own 3 single family homes, one primary house hacked, and 2 rentals. I make about $1,200 a month as an EMT. I have a real estate license and was working as a realtor making roughly 5k-mo while in school. 

I am now not wanting to represent people, as pipeline has dried up, and i hate real estate sales (got the license to represent myself/learn how real estate works). However, I love real estate investing. 

When I graduate (May 2023, 9 months from now) I plan on taking a salaried job in the real estate world, and aggressively saving everything and putting it into long term rentals. 

Right now, I feel broke. On paper I have some good equity (roughly  175k between the 3 properties). 

I have every day from 2pm-10pm M-F to be working on something (after classes 8am-1pm). 

My question is: Should I take a mundane job (like a grocery store, warehouse, restaurant $12-$14 an hour in my market) to pay bills right now? Or are there any sort of real estate related jobs I could work in those hours to support my love of real estate that are salaried. Living 100% commission is a bit too stressful for me while in school full time. 


Thank you so much for any help I may receive. 


All the best, 

Shane

Most Popular Reply

User Stats

63
Posts
48
Votes
Matthew Bowling
  • New to Real Estate
  • Worcester, MA
48
Votes |
63
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Matthew Bowling
  • New to Real Estate
  • Worcester, MA
Replied

My advice is to do nothing... that's right, don't change anything until you're done with school. With three properties you are already way ahead of the game. Your focus for the next year should be on finishing school and choosing a good company to work for. Finding a good company with pre-tax benefits like a 401k would allow you to balance your portfolio (away from being so real estate heavy) with equities and to also grow your cash position. How much operating capital do you have on hand for three properties? What happens if you have major cap X needs across all three properties? I think you're off to a great start and it sounds like you have a great real estate career ahead of you. My two cents anyway 😃

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