Quitting my job to to Real Estate full time

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I'm leaving my job in manufacturing to focus on real estate full time. I'm able to make the change because of my "house-hack." Due to the fact my living expenses are relatively low, I'm able to pursue a profession that will make me happier. I'm scheduled to take my Real Estate exam in a few weeks in order to become an agent. I love the flexibility being an agent can provide my family. I'm aware the journey will be difficult but I have faith everything will be okay with the proper education and due-dillegence. 

If anyone can give me information in regard to brokerages who provide great training that will facilitate in the success of its agents please feel free to comment below. So far I've interviewed Keller Williams. They gave me a ton of information and I loved what I heard. Any thoughts or opinions are greatly appreciated and I thank everyone in advance who take the time to respond. Thank you :)

Be careful with quitting your W2 job. Real estate is 100% commission based and you probably will not qualify for any loans until you can show a history (usually 2 years) of stable 1099 income in real estate. You should consider starting out part time and working up from there as the startup and licensing fees can be quite exorbitant for a new agent (1k-2k) and you can easily go months without getting a paycheck.

Congrats @Jose Vazquez you’ve got guts. Sounds like it’s a done deal.

You’re going to be fine. From one full time Investor to another, I ask you to consider the following.

1- can you motivate yourself?

2- can you pick yourself up after a public failure?

3 - how many months can you go without income?

4 - can you do short-term rental or create a secondary cash flow so you can continue to build reserves?

Even if you said no, you’re still going to be find. It’s amazing what can be done when we are fully committed to success.

Best to you.

Thank you Al and Bob. I did my best to put things into perspective. 

1- can you motivate yourself?

Yes! Most times I'm in-tune with a higher power. I'm aware everything and anything is achievable. Motivation isn't a problem. I can be very persistent. If something can be done practically and realistically it's not difficult to muster enough moxie to take action. 

2- can you pick yourself up after a public failure?

80/20! The first 20% is allocated toward sulking because of the perceived failure.. lmfao.. after which I expel 80% of my energy into trying to "figure it out" and looking for the silver lining. I also search for any lessons learned associated with the percieved failure. I also vent to my girlfriend and drive her up the wall.. lmfaoo

3 - how many months can you go without income?

I won't go any months without income. There must by a consistent stream in order to pay bills and save up; even if it means uber, airbnb, & Turo in order to save money or pay bills. However, I won't leave my job without a decent amount saved and/or a decent amount of cash flow from rentals. 

4 - can you do short-term rental or create a secondary cash flow so you can continue to build reserves?

For now I'm working at my job until I pass the test and get the ball rolling. It won't take long for me to quit my job. As soon as I get comfortable with closing on homes I'm chucking the deuce and doing it full-time. This will take me another 6 months at most. 

Worst case scenario, I'll uber, airbnb, and TURO if things get slow. Also, I know being approved for loans will be difficult but I don't care. It's something I can develop a sound plan for given the fact I already know it'll become an obstacle in the future. 

In any case, I'm going to enjoy life, let god, let go, and have fun <3 

@Jose Vazquez You sound like you have a strong support network. I have been depending on my Higher Power for 31 years now. Do not hesitate to reach out if you need encouragement.

Darrell

Would the extra income from your full time job not help you more with the extra capital?

Or does your job not allow you to have any time to work deals throughout the week?

I'm not an agent... and if it doing that makes you happier than your current job go for it... but I would caution against thinking that it will provide freedom and flexibility of schedule... often being an agent means you are at the beck and call of clients/potential clients.... evening/weekend showings and open houses, etc.

Thanks Gary & Darell... I appreciate the support :)

 Joseph.. my job would most definitely allow it.. I work four days a week for ten hours.. Three days off. It also helps in terms of capital. However, I'm not happy.. Its monotonous and mind numbing. On the days I have to go into the plant I feel this wave of anxiety that makes me miserable from the time I wake up, to the time I go to bed. On the other hand, when I'm looking at properties, negotiating, calling contractors, or doing anything real estate related, even when we have issues that cost thousands of dollars, I feel alive and energized. I want this feeling 24/7. 

Austin, thanks for the heads up. I know it won't be easy.. In the beginning I'll make less money and I'll work a lot harder than I do now, but I know I'll be happier. I rather work 16 hours a day in my office and in the street, doing something I enjoy, than work 10 hours in a factory doing something that cripples me with anxiety on the days I have to go in :/

Quick update: I’m now an agent for KW. I Quit my job, my bills are paid, and I’m doing what I love. It’s hard work but I’m enjoying the process. As a new agent I’m surprised by all the moving parts associated with becoming a successful real estate agent. It’s no walk in the park but it’s a lot of fun.