“Failure is only permanent if you never start again. I fail on a daily basis.” – Joshua Bowen
Hello everyone! This is Joshua, a member of the team here in Ohio. As you may well know, many of the blogs we post here on BiggerPockets are presented by Engelo. That being said, Engelo and I have a close relationship and discuss in our weekly meetings topics for these offerings. This week we decided that the content should come from me. We feel that many of you out there may be struggling with fully committing to your goals, and I may be able to help. Now that we have that little disclaimer complete, this is what I have for you. Enjoy.
About 5 months ago, I quit my job. I left my nice cushy job of 7 ½ years with a retirement and benefits and status — all very important — to come work with the team at Ohio Cashflow. I worked at a local bank and had been at my location for a number of years overseeing the entire operation as the branch manager. I sat on a few community based boards and attended social gatherings regularly. Along with my wife and three daughters, we had a home and vehicles, student loans, medical bills, etc. — all the stuff of normal life. I made a good income. Then, I put in my notice and quit my job. I needed to follow my dream and our vision of building a better life for our family. My wife was my rock as I made the transition.
How I Bought, Rehabbed, Rented, Refinanced, and Repeated for 14 Rental Properties
This is the dream right? Going from zero to 10+ rental properties, providing stable cash flow and long-term wealth for you and your family, and building a scalable business model to boot! Learn how this investor did just that, in this exclusive story featured on BiggerPockets!
Taking the Leap
Why do I say this? Why am I here telling you my story? Because I was terrified! Afraid of all of the things in my life that I worked for that I could lose. Terrified, honestly looking back, is an understatement. I made the leap from a 9 to 5, corporate structure to the world of real estate. That was in August, so my schedule changed a little too: 7 a.m. till dark, 7 days a week! I will admit, without Engelo, I was entirely lost. Working with him is a bit like drinking from a fire hydrant, but without him I would have died of thirst.
I could have easily made the decision to stay where I was, working at my branch with my team. I could have allowed those fears to hold me back like so many do. Fear is a funny thing because on one hand, it can motivate you to move forward, but on the other, you can be totally frozen and numb. I mean, what if I failed? What if I did lose everything? Don’t get me wrong, there have been some bumps, but it was the best decision I have ever made. You couldn’t pay me to go back.
I am now a licensed Real Estate agent and investor; although I work 6 days a week, I have true freedom that I never even dreamed of.
I have learned so many things since I left. Here are my top two.
What I Learned When I Quit My Job to Invest
1. We all have a dream that is accomplishable with just a little help.
Each of us has a dream. Some of us have visions of material items. Some of us dream of more time. Many of us just dream of being comfortable. Whatever that is, IT’S YOURS, AND YOU SHOULDN’T GIVE IT UP. If it’s spending more time with family and friends, allowing yourself to pursue an interest that could in turn create a lifestyle is not a waste of time.
Find someone who knows about what you want to do and has done it, and pick their brain. Real estate investing, flipping, wholesaling, becoming an agent — whatever it is can get you there — immerse yourself in it. I am living proof. I am thankful every day for the help I have received.
2. The fear of failure is real.
If you think you can get away from your fears, you’re kidding yourself. Fear is real, and it can be stifling. The fear of failure prevents many of us from doing the things we could be great at. It is also true that sometimes the people closest to us, our family and friends, are afraid for us. Those fears can hinder our ability more than our own failure because we feel a need to please them.
Find your support, your best cheerleader, and just push through. Will it be hard? Yep! Will you think at times that you must be crazy? Absolutely! Keep using the fear to motivate your success because no one can take away accomplishment. If you fail, so what? Start over. Failure is only permanent if you never start again.
“Ever tried. Ever failed. No matter. Try Again. Fail again. Fail better.” — Samuel Beckett
A career in real estate is all about perseverance. You need to fortify yourself to last. Fill your thoughts with the next step and always look for the opportunity. Smile. Understand that you can still be afraid, and that’s good. If you quit your job and you weren’t afraid, then something may be wrong. Watch out for scams and seek out people who are where you want to be. Read as much as you can, and learn something new every day. Keep your dream in front of you, and don’t allow someone’s ill-informed opinion to hinder your success. Be your success. Make the leap, you’ll know true freedom.
Have you made the leap into full time investing? What have you learned along the way?
Weigh in in the comments section below, and let’s talk!