Leave job during COVID and go full time into real estate
I should be grateful I still have employment but I have been planning this move for quite some time now. My current job is in the construction trade (union) which pays well, but at the same time sucks the life out of me. I have 13 units total, one of which I am house hacking (duplex). I also started a property solutions company where I will be target marketing pre-foreclosure properties. I live well below my means and have low over head. With so many people losing their jobs I am having a hard time making a decision. Any feedback or suggestions would be greatly appreciated.
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I would take a step back and evaluate your total financial situation right now. It's hard to give advice without knowing what that looks like.
Do you have any consumer debt or loans that you are still paying on? (aside from the mortgages?)
Also, do you have enough personal reserves to last 6 months-1 year without income? Will you have the option to keep your health insurance for a while or do you have a plan to cover that expense?
If you have enough cash saved up to not need to generate income for a year, then I would say go for it. However, if you are not in that position I would continue to work to get to get there before leaving the W2 job. I personally wouldn't quit a stable job with the intention of living off rental income or income from a new business in the current economic climate.