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

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

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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes

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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Deborah McDonough
Real Estate Agent · Huntsville, AL · Member since 2020 · 23 posts · 23 votes
6y
I'd say to start as soon as possible. Get your license now and use your current job to build up your investing account. Then start buying and you can shift your focus more and more from work to building your wealth empire (also some work). I wouldn't consider being an agent not work unless you just love it. But, it's a great tool to generate passive income in the future.
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Bob Prisco
Specialist · Cleveland, OH · Member since 2018 · 1k+ posts · 666 votes
6y
@Jaron Walling well 1st thing you need to do is learn, why the heck do you need a RE licence to learn more and find deals ?? Just go to a networking meeting connect with others , learn, bird dog, save, learn, then apply what you learned . Thats exactly what I did many years ago, , now ( for the last 7 years ) I can get as many deals as I want . You do not need a RE licence ,BTW, if you think you are not going to have to work, well you are sadly mistaken,. I hear this all the time, " Bob you are so lucky the life you have, " HMM, my response "the harder I work the luckier I get "

Good Luck
3 Reply
George Munoz
Real Estate Agent · Fort Lauderdale, FL · Member since 2018 · 360 posts · 213 votes
6y
get a license now, and start RE part-time, plus read read read (RE Books and self-development) , Local RE meetings and NEtwork and seminars. and then in a year, you might consider doing it fulltime.
( And BEST Advice... Dig deeper and see if RE is a passion of yours or an industry you can freely display your gifts if so you won't feel it as work, because indeed you will have to put tons of work, effort and hours in it and make RE a lifestyle)
2 Reply
Jaron WallingPro Member
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Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
6y
@Karen Margrave I was for sure trolling and I appreciate the kind words. The weather in Indiana sucks right now. I'm very outdoorsy so I'm struggling.
2 Reply
Brian J. Kendrick
Attorney · Jamaica, NY · Member since 2019 · 11 posts · 6 votes
6y
Better believe it folks, you set up a sign, pull up a folding chair, venture into a cooler, and when you pop the top on your third specialty mix you have your check in the other hand, correct?
1 Reply
Nicole Heasley Beitenman
Investor · Youngstown, OH · Member since 2017 · 2k+ posts · 2k+ votes
6y
Originally posted by @Mike Cumbie:
@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!

So...this post is actually me. Let me edit it real quick: I'm 28 and a millennial. I want to be a full time real estate investor one day (residential real estate). When I turn 31, I want to get my real estate license and work solely with other investors because there's a niche in my town for an agent who can analyze rental properties.

I just accepted a role for a position where I'll be selling property management software. I'll be making great contacts. I'm salaried, so basic expenses are covered, and I can still get financing. I will also have uncapped commissions which I can put towards paying off student and auto loans. Then I'll build a nest egg to quit my W2 job. If I meet their expected commissions for my first year, I'm looking at a 25% increase in my income. I'm 28 and don't want to go to work. That's what I see as the difference--it's not that I don't want to work. I don't want a 9-5 schedule because I don't think it's a realistic one to have when I start having children. Like @Mike Cumbie, I want a job that will let me work from home until my MIL gets off work at 2 and then go do showings at night. I'll work extra hours if it means eliminating, or at least drastically reducing, childcare costs.

I'm going to go learn sales on someone else's dime so I can get my license and start my own business. That's what I'd advise my fellow millennials who want to use a license to get out of the rat race.

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Jaron WallingPro Member
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Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
6y
@Nicole Heasley Beitenman 100% agree. I don't mind my current job but the pay is terrible. I just keep my head down and work the side hustle.
3 Reply
Ola Dantis
Multifamily Syndicator · Houston, TX · Member since 2016 · 1k+ posts · 2k+ 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.”

🤣 🤣
DO IT! @ me I'd be your first poster talking to you at the proverbial water fountain during our lunch break!
1 Reply
Landon Miller
Rental Property Investor · Springfield MO · Member since 2019 · 21 posts · 9 votes
6y
@David Tyrawa
#Priorities
#DaveRamsey
0 Reply
Nicole Heasley Beitenman
Investor · Youngstown, OH · Member since 2017 · 2k+ posts · 2k+ votes
6y
Originally posted by @Jaron Walling:
@Nicole Heasley Beitenman 100% agree. I don't mind my current job but the pay is terrible. I just keep my head down and work the side hustle.

My pay wasn't great either. That's why I wanted something in sales. People think I'm crazy for having an accounting degree and wanting to move away from traditional W2 income into performance pay. But if people didn't think it was insane, it would probably be the wrong path. If I can be a top performer at my sales job and my company lets me do whatever I want schedule-wise, I might stay there longer. But I have to take some kind of action now, or I'm going to be stuck with a mountain of student debt and child care costs that are as much as a second mortgage (without the rental income!).

1 Reply
Nick Gann
Real Estate Agent · Murfreesboro, TN · Member since 2019 · 194 posts · 181 votes
6y
@Russell Brazil
Man. Thats the truth.
I've started many businesses in many industries, and they are all like this. Having money and starting in real estate is no different than having no money and doing something else. Theres an unlimited amount to learn and you can dedicate as much time as you can stand and it still isnt enough hours.
2 Reply
Nick Gann
Real Estate Agent · Murfreesboro, TN · Member since 2019 · 194 posts · 181 votes
6y
@Mike Cumbie
Just passed the real estate exam. From my other businesses I am able to come to Chattanooga TN, pass an exam, and have a couple celebratory beers with my neglected wife (from all the studying) then stay here overnight and enjoy our time.
That's what all the work earns. Freedom. But freedom isn't no responsibility, it's more responsibility.
1 Reply
Pete Barrow
Investor · Indianapolis, IN · Member since 2017 · 145 posts · 158 votes
6y
If you don't want to "go to work", i.e. go sit in a cubicle every day, then REI might be good for you. If you don't want to "work" then this is not the business to be in. The workload and the stress can be pretty high at times.
1 Reply
Mandela Muhammad
Investor · Bronx, NY · Member since 2015 · 52 posts · 22 votes
6y
@Jaron Walling
After you buy several rentals its pretty easy to take a chill pill and relax as a single millennial with no housewife. I'd say after about 3 months or so your going to miss grinding. Then you go back to work, mentally its much easier since your working toward a goal of adding another rental. Every rental is like receiving a raise. When thats the case it no longer feels like work. Managing 10 units takes maybe 1 to 10 hours a month.
2 Reply
Robert Nelson
Member since 2019 · 43 posts · 20 votes
6y
@Jaron Walling
FYI most self employed folks, business owners and yes, real estate agents and investors, probably work double the hours as a regular 9-5 employee.
0 Reply
Rafaella Almeida
Rental Property Investor · Southington, CT · Member since 2019 · 23 posts · 6 votes
6y
@Russell Brazil just curious why Brazil? Is it really your last name?
0 Reply
Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
6y
Originally posted by @Rafaella Almeida:
@Russell Brazil just curious why Brazil? Is it really your last name?

Brazil is my real name. It is an irish surname.

[email protected]301-893-4635 Podcast Guest on Show #192
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Matthew Irish-JonesBusiness Member
Real Estate Agent · Buffalo, NY · Member since 2017 · 2k+ posts · 2k+ votes
6y
@Jaron Walling you should definitely get your license. You can quit your 9-5 and work 5am to 9pm as an agent LOL. Most people that go full time into Real estate as investors, agents, brokers, property managers, etc.. and own their own companies give up their desk job and 40 hour work week for a 90 hour work week... But.. you ain't working for the man.
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Todd F.
Investor · Riverside, CA · Member since 2014 · 239 posts · 177 votes
6y
@Jaron Walling I think your best bet would be to quit your job and try and squatting in vacant properties until you can steal the property from the homeowner. But don’t ever give up, squat with all your heart and keep your nose to the squatting grindstone. Also, if you do come up on some money, your best Investment bet would be to buy a boat. It’ll help with commuting through the city
1 Reply
Matt Millard
Lewisville, TX · Member since 2015 · 344 posts · 264 votes
6y
@John Teachout
Not in flower mound, TX or almost any Dfw suburb. Need to make at least $180k to be lower middle class.
0 Reply
Matt Millard
Lewisville, TX · Member since 2015 · 344 posts · 264 votes
6y
@David Tyrawa
Move somewhere cheaper. My town has average house payment of $3,200 & I got denied a student loan refinance with good income & 807 credit score & no debt because of my area.
It sucks.
I put it all on 18 month zero interest credit cards to fight back!
0 Reply
Matt Millard
Lewisville, TX · Member since 2015 · 344 posts · 264 votes
6y
@David Tyrawa
That’s sad that people are now thinking $10 million. It’s all because of Federal Reserve evil money printing & interest rate manipulation.
The cycle is coming to an end soon worse than 2008.
Buy silver, real, estate & crypto!
0 Reply
Matt Millard
Lewisville, TX · Member since 2015 · 344 posts · 264 votes
6y
@Rob Massopust
That downturn is coming in next couple years.
My investor & economics friends like Ron Paul & Jeff Berwick call it the Greatest Depression!
0 Reply
Rob Massopust
Real Estate Broker · Santa Ana CA [South Coast Metro] · Member since 2016 · 459 posts · 202 votes
6y
Originally posted by @Matt Millard:
@Rob Massopust
That downturn is coming in next couple years.
My investor & economics friends like Ron Paul & Jeff Berwick call it the Greatest Depression!

Yeah its easy to take that argument and extrapolate all the ills of unprecedented debt etc. And how most investors think its different this time. I think its just a matter of when vs if. But its been their take on that for last 6 years. Berwick lives in Mexico and is an anarchist or something and I followed him awhile regarding Bitcoin.
But Larry Kudlow says we might have low interest rates for the next 25 years and the Fed can print more money than ever makes sense and we kick the can down the road and being that the US Treasury is the worlds safe haven the rest of the world will keep putting funds into our mess and drive yields down and mess up bonds and keep things inflated indefinitely until it blows, if it does. We leave China and Japan holding our debt, they keep taking it because they have no where else to keep it. Ever seeking safe yield, hard to do.
And just because Ron Paul is right and has been an outspoken member of the senate, he just rails against the machine and no one listens.
Does this make RE a bad idea, not if you can borrow at 3% for 30 years and the rents cover it. Low rates for next x amount of years will push up inflation so in the future you will pay off your loans with ever cheaper money. There is no right answer, no one knows at this point. Schiff, Dent, Dalio, Buffet, Rogers etc all speculate.

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Donald N.
Rental Property Investor · Northlake, IL · Member since 2019 · 23 posts · 4 votes
6y
@David Tyrawa .thanks for clearing that up. W2 taxes here in Illinois are a killer. Every week I look at my check I swear I pay half to Uncle Sam. IRS
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