THOUGHTS!!! What would you do if you lost your job?
Hi all,
I wanted to know your guys thoughts. If you were laid off from your w2, but you had a drive to do something with real estate and work for yourself, would you get back into the job force that's just any job to start generating some income for yourself or use the time to work to do something real estate related? I had some experience with real estate in the past with a few rental properties and really would like to start doing something real estate related full time but don't know what. I have a lot of time on my hands now and funds to last a good 5 months without a job/significant income, so I wouldn't mind taking just a little bit of time to get into something real estate related. I just don't know what are some great things to do to start generating income relatively quickly? Thoughts?? What have you guys done?
For all of you W2 guys and gals out there if you lose your job- try to get a new job as soon as possible that pays as much as the old one.
Also at the same time try to get a new job that pays more than the old one.
And if both of those fail, trying to get a job that pays whatever is the most you can get for whatever type of work you can handle.
Try not to cut into your savings or your retirement accounts.
If you lose your home, apartment and or vehicle move in with your parents no matter how old you are or how old they are.
Apply for welfare and food stamps and a section 8 house, As well as free medical coverage from the government.
Do not begin drinking heavily, keep your nose to the grindstone and find some type of work doing something.
You may have been an indoor employee with air conditioning and a comfortable chair, but sometimes the only work available is being a rough neck in the oil field or some other unpleasant type of hard work.
If it's available take it until you can get what you want. The key is to keep the cash flow coming in.
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#1 Classifieds Contributor
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Quote from @Ivan Aldana:
Hi all,
I wanted to know your guys thoughts. If you were laid off from your w2, but you had a drive to do something with real estate and work for yourself, would you get back into the job force that's just any job to start generating some income for yourself or use the time to work to do something real estate related? I had some experience with real estate in the past with a few rental properties and really would like to start doing something real estate related full time but don't know what. I have a lot of time on my hands now and funds to last a good 5 months without a job/significant income, so I wouldn't mind taking just a little bit of time to get into something real estate related. I just don't know what are some great things to do to start generating income relatively quickly? Thoughts?? What have you guys done?
Start working as an Agent.
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#5 Multi-Family and Apartment Investing Contributor
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Happened to me mid 1990's. Had a family to feed and bills to pay............not much to think about really, just went out and found another job.
#1 All Forums Contributor
- Investor
- Virginia
Quote from @Ivan Aldana:
Hi all,
I wanted to know your guys thoughts. If you were laid off from your w2, but you had a drive to do something with real estate and work for yourself, would you get back into the job force that's just any job to start generating some income for yourself or use the time to work to do something real estate related? I had some experience with real estate in the past with a few rental properties and really would like to start doing something real estate related full time but don't know what. I have a lot of time on my hands now and funds to last a good 5 months without a job/significant income, so I wouldn't mind taking just a little bit of time to get into something real estate related. I just don't know what are some great things to do to start generating income relatively quickly? Thoughts?? What have you guys done?
Without knowing what five months of income equals or what you are making, having only five months to replace your W2 salary is a lot of time and could be a monumental task. I would focus on finding a job, and maybe even look for some in real estate. Also during this time take advice of what James said and get a realtor license and then maybe start also being a realtor.
