I need away to jump into real estate sales full time

[Joseph A Henke]

I am trying to figure out a way to start my real estate sales business but still be producing a consistent amount of active income until I am busy enough to live off commissions. Right now I am working a 40 hour a week job and I’m making 40,000 a year. I want to transition into real estate and I want to put in all the work but I don’t think I will be able to work my current job and get the business up and running properly. My wife and I have a two year old and I am not going to ask her to work. Does anyone have any advice or potential opportunities in the St. Louis area?

[Kyle Eckert]

@Joseph A Henke  If you want to jump ship into a nebulous career, especially with a kid in the picture, cut expenses to near zero and build a runway fund to make sure you dont run out of money before you succeed.  All expenses for 6-12 months is a good start.

The MLS is a great tool for allowing you to watch a market to see how it works. See a deal pop up and go under contract in a few hours? That property was probably a good deal. See one sitting on the market for 6 months? Probably overpriced with an owner who needs to sell at a certain number or isn't motivated. Get specific on a zip code and property type, then learn your trade.

Driving for dollars and then gumshoeing your way to find their contact info is a surefire way to find a deal eventually.  It is a grueling process, especially if you are calling them.  Mailers take a lot of the exhaustion out of the search, but the costs add up.

Networking is huge and gives you access to deals. Do it always, but be genuine.

Depending on what you are trying to do, get a mentor to accelerate your efforts.

Reach out if you want to discuss further.