Would you give up your job for this?!

Question

Hello BPers

I’m a newbie at this and have been reading books and attending seminars for the entire last year and finally found a multimillionare who invests and owns 1500 door who said he can help me achieve my goals but I have to start working full time for him and will pay me 12$/hour as a start and will increase it once I prove my self.

Do you think I should give up my job(truck driver) with $60k a year for this opportunity?!

Thanx for taking the time to answer this question.

Luke Sanderson · Answer

This sounds like it is too good to be true... If you do go to work for this individual, make sure everything is in writing/ a contract. What are the steps you need to meet to make more? What are the thresholds for "proving yourself?" Can you work overtime? What is the learning path, or how is he developing you? What is required of you, and what is required from him?

What does he get out of this relationship other than cheap labor?

Abel Curiel · Answer

Find out specifically what you need to do to "prove" yourself and also make sure you get a clear understanding of what your position will entail.

If you're still not sure what to do at that point, find out if he'll let you begin part-time before making the jump.

Brad M. · Answer

@Harith Hadi

If the knowledge and experience is worth $35k a year (and benefits too I'm guessing). I can tell you based on the carriers that I use, a CDL (assuming that's what you have) driver can walk in about anywhere and be hired on the spot. If it doesn't work out you can get another job driving. It would greatly depend on the amount of trust I had in the guy and whether I would really be learning or just cheap labor. There's nothing wrong with being cheap labor to learn, but there would have to be a clear plan of progression. Personally I would trade money all day long for knowledge if it was that simple.

I took a very similar approach to success. I quit my very secure and good job, moved 1,200 miles away, and took a 60% pay cut, to run a business. However, I had a very clear written agreement in place to buy the business on a certain date for a agreed upon price after I had added value to the owners. That being said, I was 95% sure I could trust them, and it worked out very well. But my entire deal was based on mutual trust and benefit. That is a HUGE key.

@Abel Curiel is also 100% right that whatever is agreed upon should be in writing and very thoroughly discussed. It makes everything so much cleaner and prevents the classic, "I don't remember saying that".

Kyle J. · Answer

@Harith Hadi  I don't see how anyone can answer this question based on the limited info that's posted.  For example, this would be a significant drop in your pay.  $12/hr, if working full time, is less than $25k per year.  We don't know:

- If you could even afford to take that kind of pay cut? (Most people couldn't)

- What could your pay potentially increase to with this guy?  ($13/hr? $100k/yr? Both would be an "increase", but obviously one would be far better than the other. Would need to know more to understand the full potential of this offer and even begin to evaluate whether it would be worth it or not.)

- What are your goals?  (You didn't even state what your goals are, so hard to evaluate if this would be a viable way to achieve them.)

- Is this "multimillionaire" even qualified to help you get to where you want to be?  (If your dream is to own 1,500 doors than maybe he is, but if your dream is to be a successful flipper than this buy and hold investor might not be much help.)

I'd have a lot more questions, but I think you see my point.  There's lots of information that wasn't provided and that I'd want to know the answers to before I made a big jump like this if it were me.  Definitely do your due diligence on this guy.

Theresa Harris · Answer

@Harith Hadi  I would talk to others who have done something similar with them before jumping into this.

Would you give up your job for this?!

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