My wife and I have made the decision to start transitioning from our current job/careers into a real estate-focused livelihood that has appealed for some time now. As some background, we are currently house-hacking with a duplex in Riverwest and plan to add another 2-4 units next year, potentially more if the right opportunity is there, and continue to grow a rental portfolio into financial independence.
My wife just obtained her WI RE Agent license and I will be getting mine by the end of the year. Our hope is to work for the same firm so that we can operate as a team and work, learn, and grow together by leveraging our distinct skill sets. As we grow our RE agent income, we will transition away from our current roles.
Now the question - Is anyone familiar with firms that are particularly suited for this type of teaming approach while ramping up to Full Time status?
At the very start, we would realistically be able to put in about 20 hours per week, but after the first couple of transactions she would ramp up her time in RE. I would transition later on as we replace more income as I am the primary earner and provide our health insurance.
Thank you in advance,
Tyler and Katie Herman
P.S. Any other advice or hole-poking in our plan is welcomed!
Hi @Tyler Herman , against public believe being successful as an agent is neigher easy nor a part time job. The drop out rate in the first year is almost 90% and then another some 90% after 3 years. And the national average income is some 28k. That being said, it can be a very successful career and if you are willing to work hard you can make good money. A great book on the subject is the MREA (Millionair Real Estate Agent, Garry Keller) - it's literally a step by step blueprint to making a million. If you feel serious about this give me a call, we can grab coffee if you are on my side of town.
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