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.

[email protected]301-893-4635Podcast Guest on Show #192
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  • Account Closed
    NJ · Member since 2019 · 24 posts · 40 votes
    6y

    lol what a troll ;)

    3Reply
  • Ryan Proffit
    Saint Joseph, MO · Member since 2018 · 401 posts · 244 votes
    6y

    @Joe P. Sure it’s not 1982 and after? Please say that was a typo.

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

    @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.”

    Mine was going to be, "I'm around my eight and ten-year-old so much that the school's psychologist has told me that I'm stunting their development with my helicopter parenting. At home, they've been hiding from me and playing Ouija in some of the more out-of-the-way bathrooms and closets of my 8500 ft2 McMansion. Is my financial freedom driving my children into the arms of the Devil?"

    3Reply
  • David Tyrawa
    Investor · Rockford · Member since 2019 · 46 posts · 46 votes
    6y

    I'm 34 with 15 houses and it still isn't enough to cover my families living expenses. We cash flow 300 to 500a door and I'm still shingling roofs. It's coming but your not getting Rich over night. I'm in a better spot than I was 5 years ago but got a long way to go. Good luck

    2Reply
  • John Teachout
    Rental Property Investor · Concord, GA · Member since 2015 · 3k+ posts · 3k+ votes
    6y
    Originally posted by @David Tyrawa:

    I'm 34 with 15 houses and it still isn't enough to cover my families living expenses. We cash flow 300 to 500a door and I'm still shingling roofs. It's coming but your not getting Rich over night. I'm in a better spot than I was 5 years ago but got a long way to go. Good luck

    You can't live on $60+ thousand a year?

    4Reply
  • Account Closed
    Member since 2019 · 1k+ posts · 1k+ votes
    6y

    @Jaron Walling

    A license isn’t going to find you deals, most good deals are made from bad deals. As for not working ... well, I worked all day between night shifts for a total of 40 hours straight earlier this week to make sure the average deal I spotted turned into a good deal under contract. Doesn’t hurt that it’s -40*C (-52 with wind chill) and 99% of people won’t go look/ negotiate in this weather. What you should be doing is finding the hours your wasting and work those ones too. Like respect, success is earned.

    4Reply
  • Ryan LubyPro Member
    Rental Property Investor · CT · Member since 2016 · 258 posts · 227 votes
    6y

    @Jaron Walling

    I always like think about the risk and reward of every decision, what am I missing or not thinking about, and the opportunity cost (what am I giving up/ missing out on if I make this choice). I promise its not to elaborate of a process.. once it is a habit.

    Answer these questions.

    What is the risk of getting my RE license right now?

    What is the risk of not having it or delaying getting it?

    What am I missing out on by having my license tomorrow?

    What am I missing out on by not having my license?

    Is there an opportunity cost of pursuing my license today?

    What is the opportunity cost of not pursing my license?

    I know it's cliche and annoying but it works extremely well for me.. long story long.. I see no real downside to getting your license right now. So that's the end of discussion for me. Get it as soon as possible. 

    When even just the potential upside drastically outweighs any downside, make those decisions instantly. And when given the chance to pursue something with short-term risk, for long-term reward. Hit that button every single time.

    Life is too short, we are here to have great experiences, and some fun. Don't overthink opportunities for experience, just jump in and you'll get an answer soon enough.

    Best of luck!

    1Reply
  • David Tyrawa
    Investor · Rockford · Member since 2019 · 46 posts · 46 votes
    6y

    Mortgage is 2500 alone. 2 young kids and irs gets there cut. It doesn't go far with vacations and savings. I'm just reinvesting my money every time I make some more. 10k month passive after expenses is current goal

    1Reply
  • Mitch Harold
    Member since 2019 · 35 posts · 87 votes
    6y

    2 kids alone cost 60k a year

    5Reply
  • Account Closed
    Rental Property Investor · Twin Cities, MN · Member since 2019 · 122 posts · 150 votes
    6y

    @Jaron Walling

    Lol

    2Reply
  • Mike Dymski
    Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes
    6y

    I know this one is a joke.  But the truth - people have lots of limiting beliefs that they can't go to college or work and invest in real estate at the same time.  Most of the investors on this site have jobs, families, hobbies, real estate portfolios, and all kinds of other commitments going on at the same time.

    10Reply
  • Shane H.
    Member since 2018 · 433 posts · 208 votes
    6y
    Originally posted by @David Tyrawa:

    I'm 34 with 15 houses and it still isn't enough to cover my families living expenses. We cash flow 300 to 500a door and I'm still shingling roofs. It's coming but your not getting Rich over night. I'm in a better spot than I was 5 years ago but got a long way to go. Good luck

    To be fair, most people could live on that cash flow. Though they probably would have to drive Impalas instead of BMWs. Lol

    1Reply
  • David Tyrawa
    Investor · Rockford · Member since 2019 · 46 posts · 46 votes
    6y

    Shane h

    Stillworking towards the BMW. But I prefer my f350 and my diesel excursion. My thoughts are more that a million bucks was a lot to my parents and at my age and with inflation I'm thinking my generation is looking at closer to 10 million with the way things are going up

    1Reply
  • Account Closed
    Member since 2019 · 1k+ posts · 1k+ votes
    6y

    @Mike Dymski

    Well said Mike. There’s an entire world of possibilities when one replaces the word “or” with “and”.

    1Reply
  • Shane H.
    Member since 2018 · 433 posts · 208 votes
    6y
    Originally posted by @David Tyrawa:

    Shane h

    Stillworking towards the BMW. But I prefer my f350 and my diesel excursion. My thoughts are more that a million bucks was a lot to my parents and at my age and with inflation I'm thinking my generation is looking at closer to 10 million with the way things are going up

     That excursion costs more than the BMW anyway. Haha

    hey I don't blame you for wanting to keep going. I would stop at 50k/yr either, but I would know I was free. From there you can build. I work on refrigerated trucks. So I'm climbing ladders and run the potential of falling off them too. I always think what would happen if I fell off and couldn't work. I might be able to get by on government programs. Other than that I'm screwed. I have a few years until I can cover it myself. 

    Sounds like you'd take a hit on lifestyle, but you could downgrade and survive comfortably. That's awesome. You're free. From there it's all about you choosing the lifestyle you want. Us little guys are looking up to you right now!

    0Reply
  • David Tyrawa
    Investor · Rockford · Member since 2019 · 46 posts · 46 votes
    6y

    i started 5 years ago and it's become addictive. Just start buying.

    1Reply
  • Trevor Emmett
    Residential Real Estate Broker · Portland, OR · Member since 2015 · 48 posts · 38 votes
    6y

    @Jaron Walling. I love being a real estate agent! It is not for the faint of heart and you cannot do it half time. If you are going to do it, then get at least 3 months of savings (ideally 6). Even if you land a deal day one you are not getting paid for 30 to 45 days. Also, you are not getting a deal day one!

    To be a successful realtor:

    1.) be seen, be useful

    2.) go to work consistently

    3.) go to work even if you don’t feel great

    4.) define work

    5.) take a family day or day off every week

    6.) do not be afraid of asking simple or seemingly stupid questions.

    7.) work hard until you learn how to work smart

    8.) put your clients needs before your fears.

    9.) surround your self with the most successful people you can find and/or people that make you a happier more loving person.

    10.) take care of your body and mind.

    Best of luck my friend

    1Reply
  • Josue Vargas
    Real Estate Agent · San Antonio, TX · Member since 2017 · 814 posts · 466 votes
    6y
    Originally posted by @Jaron Walling:

    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? 

     You millennials surprise me every day.  So you are 33 and considered  yourself millennial.  And you want to invest and learn.  If I have the chance I would teach you some things.  Unfortunately, My wife is not a millennial and sucks must of my free time.  When you are in the 40's you will understand.  

    0Reply
  • Rob Massopust
    Real Estate Broker · Santa Ana CA [South Coast Metro] · Member since 2016 · 459 posts · 202 votes
    6y

    Hmm, you troll and jest but deep down I think most Millennial's think this way! Why not, you grew up with easy money and everyone on Facebook makes millions selling lip liner or something, just click and I get rich. 

    Some people it just comes easy most of us have to work at it. Now there is so much more competition and everyone wants HGTV easy that it is just makes me want to puke. 

    Maybe if you rode the real estate roller coaster every 7-12 years you timed it right, but now I think the jig is up, this next downturn [if we ever have one] wont be as deep of a discount. I am so tired of everyone that has been "doing" real estate for like 4 years and think they know everything. All the easy fruit is gone and I do piss on myself because every property I bought and fixed up is worth millions today, should of kept one. Oh well back to work because its not that easy seeing everything for what it is.

    https://www.youtube.com/watch?v=Uo0KjdDJr1c

    https://www.youtube.com/watch?v=zlmarLZpsyQ&t=38s

    2Reply
  • Kerry Noble JrPro Member
    Investor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
    6y
    Originally posted by @Jaron Walling:

    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? 

    im 33 as well....1 foot in HR and 1 Foot in real estate........I take HR contract jobs for a few months until this real estate thing is full time for me........I partnered on a flip and looks like wholesaling is taking off this month/year so far.......im in the same boat as you by tryna make this a full time thing.....and im in Indy too 

    2Reply
  • Shane H.
    Member since 2018 · 433 posts · 208 votes
    6y
    Originally posted by @Josue Vargas:
    Originally posted by @Jaron Walling:

    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? 

     You millennials surprise me every day.  So you are 33 and considered  yourself millennial.  And you want to invest and learn.  If I have the chance I would teach you some things.  Unfortunately, My wife is not a millennial and sucks must of my free time.  When you are in the 40's you will understand.  

     Believe it or not millennials start turning 40 this year!

    1Reply
  • Nicolas Ake
    Real Estate Agent · Akron · Member since 2019 · 35 posts · 11 votes
    6y

    @Jaron Walling I feel your pain. The sooner you start saving/ stop unnecessary spending the better. I also found myself eager to start and realized I had a downpayment, but if used that would have no reserves!

    Ignorance is bliss, Rich dad poor dad atleast woke me up. Its frustrating to wait, but better to build a solid foundation to build upon than to rush into a bad deal.

    Good luck!

    1Reply
  • Marie Merkley
    Member since 2018 · 5 posts · 0 votes
    6y

    @Jaron Walling

    0Reply
  • Karen MargraveBusiness Member
    Moderator
    Realtor, General Contractor, and Developer · Redding, CA · Member since 2009 · 7k+ posts · 4k+ votes
    6y

    @Jaron Walling I don't want to go to work either. I want to win the lottery.

    I'm a Realtor. It's 5:30 a.m., it's raining outside, and I'm leaving in a little bit to go to septic inspection for a client on one of my listings. Why? Because the seller is a client and also a BP member, and he needs someone there to assess the situation and help determine if a property has value. I definitely don't want to go to work! :)  I know you were kidding when you posted this.. have a great day, hope it's a nice one where you are.... brrrr.. it's cold and wet outside here

    2Reply
  • Vadim Muchnik
    Flipper/Rehabber · Chicago, IL · Member since 2017 · 9 posts · 3 votes
    6y

    @Jaron Walling go for it!

    0Reply
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