BP PEOPLE! Should I take a pay cut to gain experience in REI?!
I've been thinking a lot lately(I hate when I do that!) and curious what some of you might say, so here goes nothing!
I've been considering giving up my non RE related income and potentially taking a Marketing position with a multi-family investing firm. This scares me and yet excites me at the same time, bc I understand the power of absorbing real world experience, compared to just reading books, listening to podcasts, and staying active on BP! But I'll be honest, I have some reservations.
As with all things there are pros and cons. The upside to making this shift in my opinion is again the experience in marketing, engaging with customers(buyers/sellers), and surrounding myself with other like minded people.
The downside is, at a starting position in a marketing department, I'd be lucky to earn half(or maybe even less than half) of my current income! I virtually have zero consumer debt and would still be able to maintain my current lifestyle with that big of a pay cut.
Another concern I have is how it could potentially affect my attractiveness to lenders. Right now my debt to income is great paired with excellent credit, and I plan to use that to aquire some buy and hold investment properties in the future.
All things being equal, I'd much rather gain the knowledge and experience to help push me much further into the future, but I'm just not sure if it would be the wisest decision at this time. Should I just be patient, keep educating myself, and keep stacking as much money as I can for another year? Or should I take the leap and go all in!?
Any advice or suggestions? Also, let's connect, especially if anyone is in the same or similar situation! Much love BP family!