I Want Out, Any Suggestions?

I Want Out, Any Suggestions?

Investor · Short Gap, WV · Member since 2016 · 160 posts · 38 votes

Hey BP,

I want out of my full time job at IBM. I'm sick of it. I know, I know. Working a job (even if you don't "like" it) is a part of "growing up". Working this job is one of the most unfulfilling things I've ever done in life. I want out. I could rant for a long time how I hate my job, but I won't. 

I know that getting financing is easier when you have a job, I know it means you can grow your portfolio faster, I know it gives you a cushion. I'm just sick of my job and want to know what my opinions are. 

I've looked into being an agent, but there's a lot of competition around me (from what I'm told). I've looked into being an appraiser, but that looks very difficult to get into. I don't really know what I can do. I wouldn't mind contracting work, if it wasn't seasonal. It looks like I may have to go to a local area to me (like Hagerstown, Morgantown, Martinsburg, Frostburg, or Fairmont) if I want to make this possible.

Do you all have any suggestions how I can get into real estate full time in my current position? I'm okay with living off of ketchup bread for a year or so.

-Dakoda

*sigh. I needed to get that off my chest. 

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
9y

real estate is NOT all wine and roses.. and it can suck as bad as a day job.... not sure what this FANTASY about how this industry is easy and you can get rich..  some do but thats the vast minority.. most go broke at it... stick to your day job .. save your money and buy rentals thats the best way for most... or save your money and do flip deals or invest with other successful builders those types of deals.

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  • Lender · Vancouver, WA · Member since 2015 · 482 posts · 316 votes
    9y

    Make it easy on yourself. Save 6 months worth of household expenses of a normal budget, NOT starving yourself, including saving for retirement, etc, pay your mortgage ahead 6 months etc, and then maintain it. Figure out how much business income you need, lower your ability to make W-2 income in steps, and build your business to replace they income. As soon as you replace W-2 income with business income, cut W-2 income some more. If you're ok with more risk, cut faster. I.e. you might work it out right now that you are comfortable working 8 less W-2 hours per week, and on and on. See how that goes? In my experience, business income is more fun yet it also kills the work-life balance for the next 2-3 years. Worst case, you can recover if you realize having W-2 income isn't so bad or that you just need a different gig. For me getting my license has taught me more faster, I now realize, than any other method would have.

  • David GreeneBusiness Member
    Real Estate Broker · San Francisco Bay Area, CA · Member since 2012 · 225 posts · 266 votes
    9y

    @Dakoda Spencer

    Inbox me on here. I'll give you some actionable steps to start improving your situation and seeds you can start planting that should grow into trees that will produce results when they grow.

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