Working two jobs to acquire real estate?

Question

A recent BP podcast guest talked about working two jobs so he could acquire more real estate. Any thoughts on this? What sort of job would you choose?

I think with an issue with this is that a house is a big item. If your goal was to pay off $4000 in credit card bills, you could be done in 6-9 months. But a house would take you years... could you stay motivated for 3+ years, working 60 hours a week?

Jaron Walling · Answer

@Alex Silang That's the problem many people face when it comes to money. They pay the government first, not themselves. Taxes eat you alive when you work OT for someone else. I have friends that make 2X my income, never attended college, but can't get ahead. They don't understand the difference between an asset and liability. They don't buy any assets. Not one dollar is generated passively. They purchase brand new vehicles and think it's smart and normal. Normal sucks, wow I sound like Dave Ramsey here but it's true. Working a second job (for someone else) doesn't solve those problems. I disagree about working a "real" second job. Make your own job and leverage it to learn skills related to REI>. People will always need PM, remodeling, agents, handymen, etc. It's a good way to add value for other people.

I'm fortunate enough to have a 9-5 job that gives me TIME to work the side hustle. I move the needle slowly but already have tons of equity, some passive income, tax benefits, and debt paydown. If someone has consumer debt, medical bills, car, or student loans it's not wise to purchase real estate.