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Updated about 2 years ago on . Most recent reply

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Elmer Wayne Fisher
  • Rental Property Investor
  • York Pa
8
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Quitting my current job

Elmer Wayne Fisher
  • Rental Property Investor
  • York Pa
Posted

I currently own an SFR that is producing long term rentals, in fact I haven't even been to the house since I bought it 2 years ago. My management company is charging 8% but saves me a 1 hr drive when problems or basic maintenance arise.
 Regardless there is another house near lyn that I would like to buy if the numbers make sense, that being said if I buy this property it will most likely a lot of my time and energy ( and money ) to fix it up. 
  Would now be a good time to quit my current stable job and go all in on treating real estate as a business not just a side gig? 
  I’ve often wanted to own my very own business anyway. 

  Basically my question in a nutshell: at what point do you take the jump and say “I’m quitting my job and taking on real estate as my very own business?

Most Popular Reply

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Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
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Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
Replied

People typically transition when their real estate net income exceeds their living expenses or matches their job income.

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