Who's about to quit and do REI full time?

Rental Property Investor · Lake Suzy, FL · Member since 2018 · 171 posts · 216 votes

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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Chris Collins

Multifamily Investor · Newport Beach, CA · Member since 2015 · 176 posts · 182 votes

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!

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Tab Teehee
OP
Rental Property Investor · Lake Suzy, FL · Member since 2018 · 171 posts · 216 votes
6y
@Crencenthia Brown
You know Crencenthia, this country is in such dire need for affordable housing, there is no excuse for boarded up housing! Follow your dreams!!!
3 Reply
Crencenthia Brown
Investor · Durham, NC · Member since 2016 · 39 posts · 12 votes
6y
@Pat L. wow love what I just reading. I'm just starting out. My health kept me form keeping a job.trying to get one now until I get to a place I can stop working and then my husband. I'm getting over my fears about becoming investor. I'm tried of not living the life I know I can have.
1 Reply
Justin Foster
Rental Property Investor · Tulsa, OK · Member since 2016 · 50 posts · 38 votes
6y
Very good discussion. I am planning to leave my w2 job in March. I’m definitely nervous, but we have enough passive income to cover our most basic living expenses and my wife works part time and loves her job. Truly it’s not purely passive since I self-manage 17 units but I’m not leaving my W2 to retire at 32 anyhow. I’m leaving it because I love Investing in real estate.

I make great money with a Fortune 500 company working in account management - much of my job is entertaining customers and it’s extremely comfortable and flexible. This is how I’ve been able to scale fairly quickly to 17 units on the side. I could ride this job out for 3-5 more years and never have to work a day in my life by the time I’m 37; however, I don’t want to do that. Many are asking me why? My answer is simply that the voice inside of me has been convicting me that full time real estate investing is my call. Vocation can often just be a means to an end and I have lived that reality for much of my life. Real estate also can be just that... and those things are OK. But I believe that when it comes to your vocation, it’s worthwhile to listen to the voice inside of you and let your life speak.

If I’m honest, I do feel scared in leaving a cushy job - I’ve been at this for 10 years and worked VERY hard to get to where I am... but on the flip slide, I’m more scared if I don’t leave. For me, this comfortability is something that I think would kill me in the long run. So I’m chalking it up to fate that whatever the future holds - successes and failures - it will be fulfilling and FULL of Life!
2 Reply
Zee Singleton
Rental Property Investor · Houston, TX · Member since 2011 · 69 posts · 11 votes
6y
@Tab Teehee 🙋🏾‍♀️ I am worried but plan to transition this summer.
0 Reply
Pat L.
Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
6y
Originally posted by @Tab Teehee:
@Pat L.
Having the support of your wife was HUGE! Sounds like it worked out well for you both! Congrats

& I still get an allowance...
0 Reply
Tab Teehee
OP
Rental Property Investor · Lake Suzy, FL · Member since 2018 · 171 posts · 216 votes
6y
@Pat L.
😂
0 Reply
Pat L.
Rental Property Investor · Upstate, NY · Member since 2012 · 3k+ posts · 3k+ votes
6y
Originally posted by @Account Closed:

No but we did have young kids, a full time nanny & yet I was still burning the proverbial candle both ends with a lot of property. She was more concerned about me being on the road so much with my JOB.

0 Reply
Dara Thomas
Investor · Member since 2019 · 21 posts · 15 votes
6y
Wow thats a great story Tab!
0 Reply
Cody Boatright
Cortland, OH · Member since 2019 · 15 posts · 5 votes
6y
@Tab Teehee Where to start? 14 years I've struggled with my lawn and landscape business. Financial security always seemed to be just out of reach. That financial struggle has changed me for the better the more I dive into my REI journey. I'm calmer now. Maybe more cautious than I used to be. Sept 10,2019 @biggerpockets showed up. I've researched hard and am growing in REI knowledge. Have a private investor ready to flip houses with me and my contractor. Getting ready to send out a 10k piece marketing flyer. My strength is in networking and hunting deals. If it opens up here soon I will say goodbye to lawn and landscape without shedding a tear.
1 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
6y
Originally posted by @Chris Collins:
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!

Don't fall on your face you will have some upset investors :) your on your way for sure .. not sure what roll of GP you had
but if your the Man and put that together then you should be quite proud of that accomplishment and hopefully those all work out great.

Podcast Guest on Show #222
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0 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
6y
Originally posted by @Justin Foster:
Very good discussion. I am planning to leave my w2 job in March. I’m definitely nervous, but we have enough passive income to cover our most basic living expenses and my wife works part time and loves her job. Truly it’s not purely passive since I self-manage 17 units but I’m not leaving my W2 to retire at 32 anyhow. I’m leaving it because I love Investing in real estate.

I make great money with a Fortune 500 company working in account management - much of my job is entertaining customers and it’s extremely comfortable and flexible. This is how I’ve been able to scale fairly quickly to 17 units on the side. I could ride this job out for 3-5 more years and never have to work a day in my life by the time I’m 37; however, I don’t want to do that. Many are asking me why? My answer is simply that the voice inside of me has been convicting me that full time real estate investing is my call. Vocation can often just be a means to an end and I have lived that reality for much of my life. Real estate also can be just that... and those things are OK. But I believe that when it comes to your vocation, it’s worthwhile to listen to the voice inside of you and let your life speak.

If I’m honest, I do feel scared in leaving a cushy job - I’ve been at this for 10 years and worked VERY hard to get to where I am... but on the flip slide, I’m more scared if I don’t leave. For me, this comfortability is something that I think would kill me in the long run. So I’m chalking it up to fate that whatever the future holds - successes and failures - it will be fulfilling and FULL of Life!
Wow 5 more years at a job you like and your set for life at 37.. I would think long and hard on that one .. real estate will ALWAYS be there its not going anywhere.. that kind of job I don't think you can say the same thing.. Just sayin..

Podcast Guest on Show #222
JLH Capital Partners51 Review
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3 Reply
Sam Siar
Rental Property Investor · San Jose, CA · Member since 2018 · 5 posts · 2 votes
6y
@Tab Teehee My partner(wife) and I have a different strategy with the end goal being for both of us to do RE 100%. We are working in generating enough passive income to cover for her W2 so she can focus on running our business full time while I’m still in the background helping and keeping my corporate job.
1 Reply
Rajan Udeshi
Orange, CA · Member since 2015 · 8 posts · 8 votes
6y
@Lucas Miller I’d really like to learn more about your story. Looking to become a rental property investor as well.
1 Reply
Justin Foster
Rental Property Investor · Tulsa, OK · Member since 2016 · 50 posts · 38 votes
6y

@Jay Hinrichs thanks for the feedback. Just some quick clarification... I never said I like my job. I only said it’s comfortable and meant to convey that from an outsider looking in, it’s a “good job”.

Inwardly the job feels terribly incongruent and at this time I almost can’t stand it. Real estate investing is something I love to do and that feels much more in line with my own sense of Self.
It’s not about the money. It’s about becoming congruent with who I am both inwardly and outwardly. Sorry if I’m getting too personal in that sense... but sometimes what’s most personal is universal.
2 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
6y
Originally posted by @Justin Foster:

@Jay Hinrichs thanks for the feedback. Just some quick clarification... I never said I like my job. I only said it’s comfortable and meant to convey that from an outsider looking in, it’s a “good job”.

Inwardly the job feels terribly incongruent and at this time I almost can’t stand it. Real estate investing is something I love to do and that feels much more in line with my own sense of Self.
It’s not about the money. It’s about becoming congruent with who I am both inwardly and outwardly. Sorry if I’m getting too personal in that sense... but sometimes what’s most personal is universal.
Gothca .. having been an employer over the years.. We certainly don't want people working for us that almost cant stand their job.. agree time to move on.. Real estate cycles and is not 100% predictable.. so one does need to be cognizant of those facts..

Podcast Guest on Show #222
JLH Capital Partners51 Review
Website View Page
2 Reply
Ken Kirklin
Member since 2019 · 8 posts · 2 votes
6y
Leaving the Corporate world via early retirement in April 2020!!!!! Cant wait to escape and be able to devote all my attention to my true passion.. As an investor since 1985 when I bought my first duplex in college, I've been wanting to immerse myself 150%!!!
Its funny how life gives you different opportunities at different times, and now I have no trepidations or qualms about heading in a new direction... I would encourage anyone to pursue their passions.. Its not always about the money. Im very fortunate to be able to invest my own money and time in projects that interest me. We currently own 7 apartments, a home,and some undeveloped land
Its cliche, I know, but do what you love and it wont seem like work. Take it from me, I have hated corporate life since 2002, but was trapped by the Golden handcuffs of a great salary and wonderful benefits. Fear has kept me captive, but as soon as I hit my 20 year anniversary I will qualify for my lump sum and Im gone.
0 Reply
Phillip Tamez
Rental Property Investor · Jacksonville, FL · Member since 2015 · 32 posts · 4 votes
6y
@Tab Teehee
Hey how’s it going?! Love the topic because I’ve been thinking about this for a long time. I’m currently active duty Navy out in Mayport, FL and have about 3.5 years left on my contract. I know I’m getting out after this contract and hoping I don’t need to get another job once I’m out. Personally I don’t NEED 6 figures to be able to live off real estate (although it would be nice). To live comfortably and within my means, I feel about 7k/month would be good enough. I’m trying to make this while still active duty or at least close enough to where I can still pay my bills so that way once I’m out, I can focus all of my attention on real estate.
0 Reply
William BratrudPro Member
Rental Property Investor · Maryville, TN · Member since 2015 · 42 posts · 21 votes
6y
After 19 Years of Working For The Man
I am leaving my 6 figure electrical contracting business this year to go full time REI and sales. Ive been in the electrical industry working as a commercial electrician for 19 years and investing in real estate for the past 3 Years. I have been making more in real estate working part time than in my own electrical contracting business working full time with 3 full time employees. to me its a no brainer. I have loved real estate since i was a kid, and have always wanted to be in the industry but due to life circumstances and poor choices as a young adult i had to go the stable income route. Now i am finally in a position to make the switch and am super excited about this career move. I absolutely love real estate, Building, renovation, property hunting, analyzing deals, etc....to me its like grown up monopoly only with real money. To me its not a job its a pleasure and thats what i most look forward to.

Solomon a wise king once said " Everything in life is meaningless and like chasing the wind, for what does a man gain from all of his toil and labor that he performs under the sun?..... And it is a good thing to receive wealth from God and the good health to enjoy it. To enjoy your work and to accept your lot in life - that is indeed a gift from God. People who do this rarely look back with sorrow on the past, for God has given them a reason for joy. The Book of Ecclesiastes

This is good advice and i believe that every person should do what they were born to do. The best way to find out what that is is to take note of what you absolutely love and go for it. When you follow your passion you work from your strengths and your God given gifts, and this is a major key to great success and happiness in life.

2 Reply
Jennifer Wilcox
Member since 2019 · 2 posts · 0 votes
6y
Our family plan is for my husband and I to "retire" and move to Florida. I honestly can't wait to end the drudgery of my 9-5 teaching career. We have a couple of rentals in Florida and I plan to seek out my real estate license and start my real estate investing business. I am in the process of soaking up all the knowledge I can on BP and being as prepared as I can before diving in. I can't wait!
0 Reply
Matt Higgins
Property Manager · Blaine · Member since 2015 · 209 posts · 276 votes
6y
Does anyone else feel like it would be a really difficult time to leave your job and try to make a go of it in real estate?
if you’re going to sell real estate inventory is at an all time low

As a guy who used to flip and no longer does, finding deals in my market is challenging. Good luck Finding that 70% arv deal
Multi family real estate deals are very very hard to come by and even if you found one the competition is driving yields into the ground.

what I love about real estate is that you can still run a big real estate business part time if you’re willing to work at it. No need to divorce the job unless you can replace your income. Advertising for deals is pretty expensive as well, and should be a consideration.

2 Reply
Luke Miller
Investor · Front Royal, VA · Member since 2013 · 586 posts · 418 votes
6y
@Matt Higgins there's little safety in being an entrepreneur. If having a safety net is critical, you shouldn't quit your job. My safety net is working harder than everyone else. If I do fail and have to go back and get a 9-5 job, it won't be because I didn't try hard enough.
0 Reply
Patrick McGrath
Rental Property Investor · Westminster, MD · Member since 2014 · 165 posts · 221 votes
6y
Wow... this is exactly what I have been struggling with over the past few months. I am currently employed at a great company with a 6 figured yearly income. But this requires me to travel between 5-10 days a month. This really eats into my time to find, rehab and manage my deals. My plan this year is to buy as many deals as possible to the point it no long makes sense to stay. I know I can do it, I have been focused and have a plan in place. Time to execute!
3 Reply
Account Closed
Specialist · San Antonio, TX · Member since 2012 · 865 posts · 351 votes
6y
To the most part I have hardly ever worked a regular job... Like 3 years total combined.

I don’t think I really had that option to be a high payed employee at a regular job. I started studying real estate when I was single and few bills close to 19 years ago. Seems like yesterday.

For the people that has great paying jobs that’s buying real estate as well you may have it made, but don’t know it. Unless you’re going to be a flipper, realtor, or wholesaler you may want to keep your good paying day job while you build up your portfolio. In my opinion a lot of folks talk about quitting their regular job to focus on real estate may simply not like their day job.
0 Reply
Vanessa Goodheart
Rental Property Investor · Denver, CO · Member since 2018 · 8 posts · 2 votes
6y
I feel fortunate that I work in project management. I manage multiple renovation projects at once, I feel like it really helps keep a good pulse on the market. I’m able to manage my own projects while still having a full time project management job.
If you are going down the investment road try to get a relevant job. Work in construction, project management, lending or sales so you can develop necessary skills. Having exposure to over 1,000 projects has given me the experience get more projects to the finish line efficiently.
You can get paid while you perfect your skills. You have to be willing to put in the work to succeed and wearing many hats will only propel your investment career.
1 Reply
Alexandre Marques dos Santos
Rental Property Investor · Member since 2020 · 215 posts · 137 votes
6y
@Tab Teehee
I am thinking about this. I have 6 units SFH in Texas and is starting to study to increment few more units in other region. If i am successful i will dedicate full time to it.
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