Start Real Estate Full Time and Quit My Job?

29 Replies

Josh, 

What part of real estate? Are you referring as an investor, real estate agent?

I started part-time as a real estate agent, since I am a single parent.  I am currently full-time.  I also own rental property, the I lived in prior to purchasing my 2nd property, which I currently reside. 

Keep the W2 job (for now). It sure is easier to devote yourself to something when you're not dealing with the anxieties of an unpredictable income stream, lack of benefits, etc.

You've got your license. Now you can use it to acquire properties in your state at a discount (just leave the commission in the transaction as equity - not taxed!). Play the long game and with patience acquire assets so that eventually you can transition out.

Also, we are on the cusp of a recession - not an ideal time to leave a stable line of work!

@Josh Sisley I started full time at 23 young and ambitious, ready to sell mansions. 2 years later I sold 7 houses and bought 2 multifamilies. Not much to show for sales but how many 25 year olds own 5 units? Wouldn’t have gotten them without going full time IMO. Do I regret going full time, no. Do I hate it, some days but who doesn’t hate what they do sometimes. Would I recommend going full time, yes. My only suggestion would be to use your computer knowledge and figure out how to make everything virtual. It’s our only edge to beat those who have been doing sales for decades. Good luck.

Hi Josh,

I think if you have savings and understand that you may not close a deal for 3-4 months at a minimum then go for it full time.  Part-time is like a safety net and mentally you can't fully commit to being an agent.  Full time sets your mind subconsciously that you must make it happen for yourself.  I can tell you that it will require more time and more work being an agent.  There are a lot of long hours and lost weekends.

Now if your goal is to be a real estate investor. Stick with your current job and collect the steady income and invest into properties.  The #1 need as an investor is a money to invest with.    

As for not having passion. Someone may not have the passion for their job but can use the money made for their passion.  Always another way to look at things.