Who's about to quit and do REI full time?
I'd love to hear from those who are on the cusp of leaving their 9-5's, their cubicles, their corporate golden handcuffs, for a new life as a passive or not so passive real estate investor.
Will it be this year? Are you ready? Are you worried or optimistic? Does your employer and co-workers already see it coming?
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Great Q @Tab Teehee: I'm literally on that cusp TOMORROW. But i have a bit of a different story than most who 'quit their corporate gig when their passive income exceeds their w2 income.'
I'm not near 'matching my passive income to my 9-5 income...' but I feel like the opportunity cost at this point is outweighing my 'secure income' of my 9-5 since I can't do real estate as HARD as I want to and am capable of at this point in my career. (if that makes sense). I can pursue real estate full time, and do large enough deals, with the contacts I have, and the skills I have, enough to pay my bills at this point I believe. I just closed 2 deals this past quarter, 268 units and 252 units. My 2nd and 3rd syndication deals as a General Partner. Does that make me 'ready to take on the world?' YES Does that mean its going to be a piece of cake? NO ;)
I can also 'pick back up my 9-5 any time I want' since it's a freelance world. So I can step into REI full time, and if I fall on my face, I can go back and make some cash, then try it again.
My friends all see it coming, and ask if I'm 'doing it full time yet?' so that's a good indicator to me that my brand is strong enough to push that with investors.
I spend more and more time these days actively investing, speaking at events, helping investors, etc. So this is a natural path for me.
Am I scared / Worried? YES... Absolutely.
Am I confident that I can do it? And that there's wealth in abundance beyond my current job? YES!
I'll take all the encouragement I can get though :)
What about you? Scared? That's GOOD! Progress is on the other side of discomfort. So go through it, and let's GO!