I'm 33 and don't want to go to work

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I'm 33 and don't want to go to work

Jaron WallingPro Member
Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes

I’m 33 and a millennial, I want to be a full time real estate investor one day (residential real estate). When I turn 34 I wanna get my real estate license so I can learn more and find deals. What do you guys think? 

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Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
6y
Originally posted by @JD Martin:

? Isn't selling real estate "going to work"? 

What do you think @Russell Brazil, @Mike Cumbie, @Joel Owens ?

 Entrepreneurs work 80 hours to avoid working 40 hours.

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  • Kase Knochenhauer
    Rental Property Investor · Grand Haven, MI · Member since 2015 · 150 posts · 127 votes
    6y

    @Jaron Walling - do it now - don't wait until your next birthday.

    23Reply
  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    6y

    ? Isn't selling real estate "going to work"? 

    What do you think @Russell Brazil, @Mike Cumbie, @Joel Owens ?

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  • Chris Coleman
    Rental Property Investor · Washington, DC · Member since 2015 · 429 posts · 393 votes
    6y

    @Jaron Walling first of all, awesome title to your post!  Becoming a full time real estate investor is a great goal and very much achievable as you can see from so many success stories on this site.  Start by educating yourself as much as possible on residential real estate. Blogs, forums, podcasts, books, etc.  Develop a plan and start moving forward one step at a time.

    You can find a lot (I mean a lot) of posts on BiggerPockets about the pros and cons of getting a real estate license and whether or not its beneficial to your investing.  Read and learn more about it, talk to other investors who have done the same, and follow sounds advice.

    But one thing to keep in mind is that you do need to do something that will generate income for you. While yes, there are plenty of stories about those who start in real estate with "no money" and build their way up, the truth is it will be easier and probably quicker if you have solid income and money to start with.  Becoming a realtor, or whatever you do as "job", find something that will help you generate the income with which you can invest.

    21Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    6y
    Originally posted by @JD Martin:

    ? Isn't selling real estate "going to work"? 

    What do you think @Russell Brazil, @Mike Cumbie, @Joel Owens ?

     Entrepreneurs work 80 hours to avoid working 40 hours.

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    102Reply
  • Joe P.
    Philadelphia, PA · Member since 2017 · 824 posts · 1k+ votes
    6y

    I don't even know how to respond to this. "I don't want to go to work" and "I'm 33 and I'm a millennial" (yes, if you were born between 1981 and 1996 you are considered a millennial...there's no reason to remind us)...

    "When I turn 34 I wanna get my real estate license so I can learn more and find deals. What do you guys think?" I think if you need access to the MLS to find deals, then you can basically do it for free via Zillow, et al. Sure, you would save money on RE commissions, but I have to assume that you need to be a somewhat high-volume agent acting on your own behalf behalf. (Here is a good article detailing startup and ongoing costs - https://www.realestateexpress.com/career-hub/become-a-real-estate-agent/7-costs-to-consider-when-starting-a-real-estate-career/)

    So I guess I'll close with this...your idea to get a license will work if you plan to make enough money to cover the costs. I don't know why waiting until you're 34 makes a difference. Good luck.


    11Reply
  • Lionel Li
    Rental Property Investor · Queens, NY · Member since 2017 · 93 posts · 128 votes
    6y

    I wanted to just walk away from my career in 2017 as well when I was 27 because I was fed up with my role and wanted to do the full-time real estate investor gig, full bore. I'm glad I didn't because that W2 gave me the confidence to make some smart investments that also spring-boarded me to get a handful of rentals in your market. Not only that, I decided 3 month ago to change careers and now I've increased my income by almost 40% and I'm enjoying my role a lot more.

    I'd like to think that I'm paving a way to eventually give myself the option to leave my job if I wanted to. But until my $/hr from my investments exceed that of the total comp from my W2, I'll probably stick to this job while continuing to invest because it definitely helps my DTI for lenders, savings rate to invest the excess.

    There's definitely something to be said about moonlighting the investment/agent gig before going all-in.

    Much success to you in Indy!

    13Reply
  • Theresa HarrisPro Member
    Member since 2019 · 15k+ posts · 11k+ votes
    6y

    @Jaron Walling  The title of your post vs your post don't match.  It is you don't like your current job and want to change or you really don't want to work?  If it is the latter, as others said being a realtor is a lot of work and you are on call so to speak all the time.  If on the other hand, you don't like your current job and want to use real estate as a way to decrease your regular job, then a) try finding another job you like, b) buy some properties to either flip or rent.  You need a job that pays to be able to borrow money to buy real estate.

    3Reply
  • Jim K.
    Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
    6y
    Originally posted by @JD Martin:

    ? Isn't selling real estate "going to work"? 

    What do you think @Russell Brazil, @Mike Cumbie, @Joel Owens ?

    Yeah guys, you put up a sign, pull up a lawn chair, reach into a cooler, and by the time you pop the cap on your third craft brew you've got your check in the other hand, right?

    21Reply
  • Mike CumbieBusiness Member
    REALTOR® · Brockport, NY · Member since 2015 · 3k+ posts · 4k+ votes
    6y

    @Jim K.

    I always say "Just opening doors and cashing checks"!!   :)

    @Jaron Walling I 100% argee with @Russell Brazil I do 80 hours a week. Difference between a W-2 is that those are MY hours.  If I don't followup on leads I simply don't get a check. If I fail to get up in the morning and start my networking, I simply don't get a check. If I decide I want to stay home, turn the computer on and pretend to work while really binge watching Superstore, I simply don't get a check. There is nobody for me to argue with that I should, nobody to yell at me for sleeping at the desk. I can't threaten to quit or refuse to train someone on the stuff I do so that they can't fire me. If I decide I need some cash I can't go on unemployment for a couple months 

    But I can also schedule a DR appointment whenever I want or schedule with my wife to go to the movies at 2:00 on a Thursday if I want. Being independant is great for those people who will stay on their own case. If you think you are the type that would take advantage of the fact you can spend half the morning cooking bacon and watching reruns of the Office. Best to stay at a W-2

    Good luck in whatever you do!

    22Reply
  • Joel OwensBusiness Member
    Moderator
    Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
    6y

    Most clients I have are not trust fund babies. That means they have generated the wealth somewhere themselves.

    A few got lucky buying at the bottom and springing that equity into more properties. Now they have enough global cash flow and equity from the properties to keep getting lender loans even if their income is not that high maybe 80k a year or so.

    Then there are the doctors, tech space people, etc. that make very high incomes. They work very hard to get ahead and take funds to constantly reinvest. The goal is to replace their job with 500k to 1 million of annual passive income or more. Some can sell off employee stock options or sell their practice and are retained on with salary. Even if you could sit around all day and do nothing very few do. The people I know with crazy amounts of money have to be stimulated intellectually and need some kind of charities, new business ventures, traveling, etc.  Without a purpose money is just money. Knowing the vehicle you are passionate about and how to CHANNEL that money is key. That is usually what brings happiness and contentment not the money.

    These days I invest in unique experiences that give me lifelong happy memories. Buying stuff for the sake of buying it once you have a lot of things it doesn't really matter unless people put their worth on that kind of stuff which can be a hollow existence in and of itself. If I do see something I think is really cool and interesting I might buy it.

    Even if you build up a business some sell off completely and others have buyouts from large equity companies. So I have seen some never sell their company and train up their CFO's over decades to take over the day to day for their company. As the owner gets older they still work but cut back a lot. It's more of they want to be there a few times a week but they do not have to. Others sell off a portion of the business after working long hours and then let the bigger company help grow the brand for an even larger exit later on.

    Even for someone with a reputation being a broker is a lot of work. If you are doing it just for the money that is the wrong reason. Someone that loves what they do will usually want to keep learning and get better at it whereas someone doing something to just pay the bills does it out of necessity. They tend to do the least possible to get better as they can't stand what they are doing and looking for any way out as soon as possible.  

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  • Jaron WallingPro Member
    OP
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    6y

    I'll be honest. I was trolling a post from yesterday.

    "I’m 17 and don’t want to go to college" 

    @Jim K. I love craft beer. I go for the DIPAs and stouts usually. 

    @Russell Brazil You're like my BP hero. I love your straight forward, sometimes harsh advice. 

    @JD Martin Thank you for keeping this forum welcoming, directed towards learning, and free of stupid topics. 

    16Reply
  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    6y
    Originally posted by @Jaron Walling:

    I'll be honest. I was trolling a post from yesterday.

    "I’m 17 and don’t want to go to college" 

    @Jim K. I love craft beer. I go for the DIPAs and stouts usually. 

    @Russell Brazil You're like my BP hero. I love your straight forward, sometimes harsh advice. 

    @JD Martin Thank you for keeping this forum welcoming, directed towards learning, and free of stupid topics. 

     LOL. You know, I thought you were kidding since you don't usually see posts like that from guys with 1k posts, but hey you never know 😂 . That's why I tagged my homies to get them into the mix!

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    5Reply
  • Jaron WallingPro Member
    OP
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    6y

    @JD Martin Call it a social experiment. Thanks for making it fun. Have a nice Wednesday. 

    4Reply
  • Joe SplitrockPro Member
    Moderator
    Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
    6y
    Originally posted by @Jim K.:
    Originally posted by @JD Martin:

    ? Isn't selling real estate "going to work"? 

    What do you think @Russell Brazil, @Mike Cumbie, @Joel Owens ?

    Yeah guys, you put up a sign, pull up a lawn chair, reach into a cooler, and by the time you pop the cap on your third craft brew you've got your check in the other hand, right?

    Exactly! They wake up at 10AM and check e-mail for all their offers. Take a client to lunch in their BMW, then go to a couple closings to collect fat commission checks. We all know the MLS is a monopoly and they are making bank to do nothing. Just wait until an app replaces them all, just like Uber replaced taxi drivers.

    And a millennial who doesn't want to go to work? I guess there is always your parents basement. Is that still considered "house hacking", since they live for free? 

    6Reply
  • Mike CumbieBusiness Member
    REALTOR® · Brockport, NY · Member since 2015 · 3k+ posts · 4k+ votes
    6y
    4Reply
  • Matt M.
    Specialist · Easton, PA · Member since 2018 · 1k+ posts · 2k+ votes
    6y

    I’m 44, self employed, own rentals, have kids, step kids, a wife. I work probably 50-60 hours a week. I don’t want to work either. But darn it, I have to. And when snow comes this weekend I’ll be out plowing making money. And if I end up with 50 doors I’ll be doing the same thing as I am today, working hard and making money. Retirement comes when I end up in an urn.

    9Reply
  • Theresa HarrisPro Member
    Member since 2019 · 15k+ posts · 11k+ votes
    6y
    Originally posted by @Joe Splitrock:
    Originally posted by @Jim K.:
    Originally posted by @JD Martin:

    ? Isn't selling real estate "going to work"? 

    What do you think @Russell Brazil, @Mike Cumbie, @Joel Owens ?

    Yeah guys, you put up a sign, pull up a lawn chair, reach into a cooler, and by the time you pop the cap on your third craft brew you've got your check in the other hand, right?

    Exactly! They wake up at 10AM and check e-mail for all their offers. Take a client to lunch in their BMW, then go to a couple closings to collect fat commission checks. We all know the MLS is a monopoly and they are making bank to do nothing. Just wait until an app replaces them all, just like Uber replaced taxi drivers.

    And a millennial who doesn't want to go to work? I guess there is always your parents basement. Is that still considered "house hacking", since they live for free? 

    You forgot the golf game or going to the spa in the afternoon. 

    3Reply
  • Andy WebbPro Member
    Rental Property Investor · Carrollton, TX · Member since 2013 · 750 posts · 538 votes
    6y

    I just want to bang on the drums all day...

    8Reply
  • Ryan Pereira
    Rental Property Investor · New Bedford, MA · Member since 2019 · 6 posts · 9 votes
    6y

    @Jaron Walling

    Hey man.

    One way or another you’ll have to work. Real Estate will have you up researching deals until 2:30 am and meeting for showings at 8 am that morning. If you don’t consider that work then maybe you won’t be working.

    Ryan.

    3Reply
  • Andres A.
    Specialist · Atlanta · Member since 2019 · 88 posts · 53 votes
    6y

    Lol I knew it had to be a joke 

    1Reply
  • Ola Dantis
    Multifamily Syndicator · Houston, TX · Member since 2016 · 1k+ posts · 2k+ votes
    6y

    I'm so tired of going to work to get all my CashFlow checks from all my Hassle-Free CashFlowing properties all over the United States. 

    My private jet is taking me to the Amalfi coast this weekend so that I can come back on Monday morning to study to get my real estate license. What do you guys think?!

    7Reply
  • Max T.
    Investor · Philadelphia, PA · Member since 2015 · 3k+ posts · 3k+ votes
    6y

    I think me too

    0Reply
  • Jim K.
    Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
    6y
    Originally posted by @Jaron Walling:

    I'll be honest. I was trolling a post from yesterday.

    "I’m 17 and don’t want to go to college" 

    @Jim K. I love craft beer. I go for the DIPAs and stouts usually. 

    @Russell Brazil You're like my BP hero. I love your straight forward, sometimes harsh advice. 

    @JD Martin Thank you for keeping this forum welcoming, directed towards learning, and free of stupid topics. 

     Of course, Jaron. I get the urge for wine that doesn't come out of a box all the time myself.

    Usually my inner troll comes out when some dude in Palo Alto gets all turgid about passive investment opportunities in Rust Belt hood SFRs.

    "GIMME GIMME SOME 20 CAP!!!"

    "Point me to the right money guy and I'm golden!"

    1Reply
  • Steve K.
    Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes
    6y

    @Jaron Walling I was thinking of starting a post “I have too much free time from all this passive investing, thinking of getting a W2 job so I have somewhere to go all day and something to talk about at the dinner table.”

    12Reply
  • Todd Rasmussen
    Rental Property Investor · Clarksville, TN · Member since 2016 · 1k+ posts · 1k+ votes
    6y
    Originally posted by @Jaron Walling:

    I'll be honest. I was trolling a post from yesterday.

    "I’m 17 and don’t want to go to college" 

    @Jim K. I love craft beer. I go for the DIPAs and stouts usually. 

    @Russell Brazil You're like my BP hero. I love your straight forward, sometimes harsh advice. 

    @JD Martin Thank you for keeping this forum welcoming, directed towards learning, and free of stupid topics.

    Lol, I got sucked into that rabbit hole.

    3Reply
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