Left my W-2 job for Full-Time Real Estate 18 months ago today...

235 Replies

@Johnson Michael Thank you and Amen! 

@Brian Mullins Funny, I grew up in West TN and lived in Cobb Co until about 2 weeks ago (relocated to Bartow County).  Thank you for all the great advice - sounds like you and your wife set your target and stayed laser focused.  That's our goal as well.  I may reach out to you to pick your brain sometime!

@Chris Bunya My husband and I actually just moved to Taylorsville in Bartow County, so we're practically neighbors :) Glad to hear Medi-share is working out for your family.  Yes, being in control of your time (to the extent any of us control anything) - priceless!

@Matthew Nicholson @Eric Carr @Eugene M.  @Sean Shapoori Thank you so much!

@Kareena Sharma I know it's tough living in areas like CA where everything is super pricey. I think it's the Real Estate Guys that say "Live Where You Want, Invest Where It Makes Sense." One option for you might be turnkey properties in cash flowing markets, just be cautious and make sure you choose a reputable operator and run your own #'s (don't just use theirs). It might at least get you over the hurdle of taking that first step, and while the returns are less than if you buy, rehab, refi (you'll be paying closer to retail) they're also much better than what you'll find where you are unless you're really able to hustle. I have 2 TK properties and they're ok - not stellar - but they've cash flowed decently.

@Derrick Williams Thanks, and I hope she succeeds in retiring you!

@Marco Padilla Thanks - once I decide to do something, I can't really rest until I've done it.  I get a little bit obsessed :) And then there's the next thing, and the next. 

@Marco Rodriguez Congrats on your new endeavor as a Commercial Realtor and best wishes to you for more and more clarity on your objectives as you learn and grow!

@Justin R. GREAT stuff! I LOVE it!! And it's funny, I was telling someone that even though my spoken and defined goal is 50 units, it's really to squeeze the highest returns I can out of the capital I have to work with, to build more capital, and so on.  Having a numeric goal of # of units helps me visualize and focus, but it's more about the return.  Thanks for sharing!

@Wallace Pai I would say "it depends".  I haven't identified the property(ies) yet. Once I find that first property, I'll post an update with details. 

@Jared May   @Martin Perdomo @Anthony Henriquez   @Robert Mitchell @Devin Reilly @Ronan Donnelly  Thank you for the encouraging words!

Sounds like you also had to take a hard look at your original plans - glad you took the better path financially but I know it can be hard to let go of something you were passionate about. 

@Todd Brady Thank you - we're generally on the same page when it comes to finances so it just made sense to both of us when looking at how to build wealth and prepare for the future. 

@Justin M. Thanks! And yes, it's not quite as big of a leap when you have another strong income and also still have health insurance through that other W-2 job.  Do we *need* $20K-$30K/mo to live off of? Definitely not, but we've always believed in putting ourselves in a position where we can help family, charitable organizations and be able to give abundantly, while leaving plenty of margin in our financial lives.  That goes back to my "why".  And I'm also a big believer in aiming high - even if we only hit 50% of that goal, that won't be too shabby either :) Best to you on your future endeavors!

@Christina Rudy How much capital do you believe you need for your first property?  And where do you plan to source your deals? Off market or on market?

@Kaaren Tramonte "and now i’m mind-blown with all the possibilities that exist out here!" - Love it! Once you overcome a mental hurdle that's exactly the feeling, right??.  Congrats and thanks for the encouraging words! Can't wait to see where you go from here. 

@Ronak Shah   Thank you so much!

@Kelly I. - Good stuff, best to you as you pursue your goals.  Would love an update from you!

@Raghu Valusani   @Clint G. Appreciate it!

@Paige Johnson   I actually just meant that I'm phasing my wholesaling business out... I believe wholesaling is alive and well from what I see around here.  I know a lot of investors who have booming w/s businesses in the ATL area.

@Vinece Barlow I bet you can figure it out! Best to you!

@Charles Carillo Thank you!

@Juan Alvarez Thanks, and yes, the W2 income was instrumental in building capital.  That and saving/investing/reinvesting vs. spending.

Hello, Julie Kern,

I read your fantastic post and thank you for sharing. I am a new wholesaler in the Baltimore, MD area looking to gain some fast cash to pay off some debt and then I too, will be looking for opportunities for multi-family properties so that I will have the choice of working at my present employer or to continue to work my business full-time and when I reach the age of retirement I will be able to retire in comfort and leave a legacy for my children. I do attend my local REI, so I am informed with lots of Taylor made workshops for the opportunities that I am interested in learning more about. I wish you much success and happiness. Keep us updated.

@Julie Kern first if all...CONGRATS! I am currently battling with what you went through 24 months ago. My wife and I decided we will make that final decision on our cruise to Bahamas end of the month. What was your method of final reaching the decision and when you did how did you pick a date? Thanks for the insights, John

Congratulations and thanks for the awesome story. These awesome stories are what is motivating me to plunge into rental property # 2 soon. We all learn from each others failures and success. Good luck, God bless, I know you'll find that 50 unit. Only a matter of time.

Hey @Julie Kern . Good stuff. Thanks for sharing. I began moving from SFR to MF last year myself. Started fairly small with a 16-unit apartment purchase. I think you are on the right path here for where you are trying to go. I'd be happy to connect and share my experience so far or talk about the possibility of looking at larger deals.

Thank you so much for sharing your experience, it is vital and you are motivating plenty. My question is related to the financial aspect of acquiring real estate. I'm interested in getting familiar and learning more about joint ventures or finding investors to acquire 50-75 unit properties. I understand that it may be difficult or perhaps over-ambitious as a beginner in the real estate world . Like yourself I'm trying to build capitol and a real estate portfolio in the shortest time possible. What are some suggestions from your experience that may be helpful to take into consideration when speaking of financing?

I love your story, thank you for sharing it!  I find myself where you were before taking the leap of faith!  We have flipped a few properties (my truest passion), own 9 rentals and I'm working my tail off in a job I've been at for 17 years.  Your story is inspiring me to open my eyes to bigger opportunities.  Good luck in 2019, I hope you find the right opportunity! 

Congrats on your liberation @julie 

@Julie Kern ! I too left corporate life 2yrs ago after a 20 yr run and am now professionally focused on Multifamily real estate. I've done a good amount of passive investing throughout the US across 11 deals which in and of itself has been great education. Next step is to syndicate 1-2 MF properties in my target market of Atlanta where I live. Let's do big things in 2019! Thanks for sharing.

Thanks Julie for an amazing story and details. I have renewed hope since I've decided to finally commit to buy and holds as well in Jan 2019. You are a guiding light to many of us so stay strong and keep us posted :)

Hi Julie,

    Great post!  I too have gone back and forth over the years (since 2003) between transaction deals and acquiring cash-flow properties.  Sometimes it seems like I'm getting more progress when chasing the transactions, but in all reality its slower if the flips aren't large.  Thanks for sharing :)

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