Looking for some perspective on my situation

4 Replies

Alright so to start I want to give you some background. I have worked as a bartender for the last 8 years of my life. Paying off all debt and saving money. Recently became a real estate agent. Closed a deal in the first two months, not a relative. I want to segway out of the service industry but walking away from a 70,000 a year pay check has got me hesitant. I’m new to real estate and the wholesale market. I have amazing credit 825+ some savings, no debt, no kids and a track record of accomplishing goals that I set for myself. I would like to make real estate/investing a full time gig. I’m looking for advice of any kind. Where to start. How to start. How to make my credit score and savings work for me through investments. I’m not looking to get rich quick. I’m interested in playing the long game. Hints my job that I have been at for 8 years to get myself to this point. Thanks for any advice.

Being a bartender is a great position to use as you ramp up your real estate career. You can work both as you build up your clients list as a Real Estate Agent... or if you have enough money saved up (and fee comfortable with the risk) you can just quite being a bartender and dive head first as a RE agent. 

As far as where to start... start with go to the Bigger Pockets Bookstore and buy up all the books on real estate. Read them. Then buy your first property.

There is no magic steps to follow for success (but there are basic principles.. which are in the books), everyone's story looks different. Good luck and kill it out there!

@Zachary Peek When you say you want to make real estate/investing your full-time gig, what aspect of real estate or real estate investing are you thinking?  Where and how you start depends on what aspect you want to focus on.

Being an agent is great and can help a ton, more than most investors who aren't an agent ever realize.  However, if you want to focus on the investor aspect (flipping, owning rentals) being a real estate agent can lead you down a path of thinking like a "traditional" real estate agent.  These guys don't understand flipping, rentals, or generally being creative when it comes to real estate.  (there are great agents out there who understand all this so please, no one get mad at me) Most real estate agents don't make the kind of money you have been making and most new agents wash out.  So there's that.  

Regardless of what aspect you want to focus on, you can do any of it on a part-time basis while you learn, get started and get established.   Let us know what areas you want to focus on. 

Thanks for the quick response and insight guys. So what I’m interested in is getting out of the service industry. Late nights make for a unhealthy lifestyle. That being said, Here is the debate. Keep working as a bartender and working for my broker, it’s just me working under him. No leads, not much coming from it. But a great split. If I continue this path I could  buy a rental property and rent it out. I’m on track to close 4 deals by the end of the year that I have found myself.  I also have the option to join a team that is crushing it right now with a different company. The split isn’t as good as what I have now but I’m pretty much guaranteed at least 20 deals a year. I would have to quit my job, already discussed this with the team leader. I wouldn’t feel comfortable buying a rental until after a year or two of proving the concept with the team. So I’m interested in buying property’s to rent them out maybe a trailer park, as well as selling real estate in the area. Thanks again Zach.

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