Full Time VS Part Time: Who's doing what?

Full Time VS Part Time: Who's doing what?

Cleveland, OH · Member since 2015 · 42 posts · 13 votes

As a new investor, I am doing this part time while I am finishing graduate school and working a job. I have aligned myself with a few full time investors who are guiding me in the realm of wholesaling, marketing, and eventually purchasing my first buy and hold investment. I am absorbing a lot, and get to see the benefits and freedoms that real estate can provide. I also still enjoy the consistency of a full-time paycheck while I learn. However, when it comes to leads, sales, marketing, and things of the like...My partner, a full time investor, manages to kill me at every turn. I'll find a lead, he's seen it twice. I'll call a buyer, he's conversed with him already. However, what happens is that at the end of the day...I realize there are pros and cons to both of our approaches as relatively new investors. And that really your choice in real estate investing....boils down to how you feel about risk. I am not averse to risk. But as it stands now, I don't have the fortitude to up and quit my job and pursue this full time yet. My partner however, has that fortitude and dove right in to pursue his dream. We both made around the same amount of income this year, but what was truly gained was individual happiness and experience. For me, it was learning about new ways to add income to myself and provide a better life for my family. For him, it was about the freedom to get back what he puts in. 

I post this only to say that I am learning that there is no "Right" or "Wrong" approach to real estate investing. Even venturing SLIGHTLY outside of your comfort zone sets you apart from the masses. If you are comfortable at your job and would like to invest part time....you are still doing far better than the person who is simply "comfortable at his job". If you are a risk taker and want to dive right in, then you are leaps and bounds ahead of the game and will likely see large amounts of success in the future. 

Happy investing. 

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  • Investor · Louisville, KY · Member since 2011 · 1k+ posts · 1k+ votes
    10y

    Hey @Charles Craggett - great post!  So many people are focused on quitting their day job but few consider the pros/cons of giving up that stable paycheck.

    When I started investing my goal was to leave my 9-5 within a year or two.  Six and a half years later I'm still working and am quite happy to be.  There came a point where financially it would have been fine for me to quit so I started thinking about my job differently.  Not needing a job is quite empowering and has allowed me the leverage to find several different roles that compensate me well, are quite enjoyable and allow the flexibility I need to also maintain my real estate.

    The flipside that nobody ever talks about is how great it is to invest without "needing" that investment income to survive!

  • Investor · Lafayette, LA · Member since 2015 · 152 posts · 50 votes
    10y

    Im getting into this part-time as I like the safety net of the great health insurance my employer gives me. I have a wife and kids so this is important to me.

    For me to go full time I would really need to be very successful over a sustained period of time before I would be comfortable taking the leap and quitting my job.

  • Real Estate Broker and Attorney · Durham, NC · Member since 2015 · 74 posts · 73 votes
    10y

    Hi Charles!

    I have been a full time investor for the last three years, I was part-time the three years prior to that. I feel that until one has a solid and stable portfolio of their own, that they should remain part-time. Investing is a time and money consuming endeavor, and unless your own investments are providing enough money to fuel current projects as needed and to expand as well, then you should keep it part time and rely on that stable, steady income to help fuel your new projects and expand.

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