Realestate ..Part time?

Question

I am a practical 1 + 2 = 3 type of person. Not your typical sink or swim, loyal risk takers like "most relator's are predicted to be. But Real Estate interest me! It is a mixture of the potential for financial security / wealth and challenge of trying something new that draws me in... The few people that I do know who are invested in this business tell me this is in no way a possible part time job.. What are you guys thoughts? I'm interested in wholesaling, and would love to hear some opinions.

Brittney Massie · Answer

Hello Donnie,

How is it going?

Donnie Tinsley · Answer

Thanks Tony for the Positive Feedback !

Tony Castronovo · Answer

It's like the old saying, "What you put in is what you get out."  Many of us just starting out cannot just quit our day jobs.  That's a vital source of income and stability (and may be required to fund deals).  I think what your contacts are saying is that 0.5 + 0.5 = 1 is not what you should expect.  It might be more like 1 + 1 = 1.  In other words, you may still have a demanding full-time job, but REI will take a lot of your time too, depending on how quickly you want to jump in.

When I was rehabbing my first property I was working 50-60 hr/wk at my day job and then working 16-18 hour days every weekend to renovate the place. My second property I hired a contractor as I was traveling too much and working over 70/wk.  Wholesaling may not be as physically demanding, but you will likely be doing a lot of marketing, meetings with sellers, building buyers lists, etc.

Bottom line: I would definitely get started and don't let the time commitment stand in your way. And I would like to be the first one on your buyers list.  Good luck Donnie!