Quitting my day job, full time real estate?

Question

I work a job that I enjoy where I am low level management. 4 months ago I got a new boss and he has had me on his black list from the beginning. Each month he has written me up for between 8-15 different infractions which are completely bogus. I have gone to HR about this and it stopped briefly but has begun again.

Tomorrow I am selling a nice sized property which will free up some capital to invest. Once it is gone I will be down to 2 doors cash flowing about $1200 a month. However I will be set to do some more investing to pick up a few more properties when I find the right ones.

I’m really leaning towards going full time into real estate and maybe picking up a part time job I’m interested in, perhaps 15-20 hours a week.

Am I crazy for thinking I can make a go of it with about 4 doors and $2000 in cash flow and a lot of hard work.

One other thing I’ve owned various forms of rentals and investments over the years, just getting back into it now. So I do have some experience.

Thanks! Alecia

Ujwal Velagapudi · Answer

I always think when you are tight on cash, fire to the bum, people (or at least myself) will find ways and get it done to make it work. Being more efficient with expenses, finding creative ways to make $$, hustling harder, working smarter, etc. For this alone I would say go ahead and leave that job, live off the cash flow, savings, and the PT job.

In addition, I'd leave any toxic relation if it absolutely cannot be worked out, especially if it is something that you spend 1/3 of your day at.

On the flip side, which only you would know, if it is a chill, super relaxed job and the income is significantly higher (on an hourly basis) than what you could get (hourly) at a PT job, then I would still re-consider. Unemployment is high, and will only be getting higher with more lockdowns in place. It is a good thing to have a steady paycheck coming in during this time. It can help increase your cash reserves for when you do want to make that investment. You say you enjoy/used to enjoy it, so I would consider first giving it a legitimate 1 on 1 with the manager, being real with him, seeing if there could be some compromise and work things out. Otherwise, you've got nothing to lose it seems, you can easily fall on your income producing assets, PT job, and searching for more investments.

Alecia Loveless · Answer

Thanks for the thoughts Ujwal. I don’t think I can fix the problem with my direct manager as he’s been after me since his second week on the job and treats all the women differently than the men. I can go back to HR and his boss and probably get him overruled again but then I still have to continue working with him which is why the best solution I see is quitting the position and perhaps leaving it that I will still work per diem and look for the part time job. My pay level isn’t so great that a part time job would be that much less other than the hours being less and then I’d have extra time for my real estate. Your insight was very helpful.

Quitting my day job, full time real estate?

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