Should I Quit My Job or Stay?

[Quamal Burton]

I've been considering quitting my job a lot lately, should I? I recently purchased my first 3-flat where I should be able to successfully house-hack. Mortgage is 2k and rental income should be about $2600 a month. I make 60k a year at my job and I know staying at my job will enable me to receive financing from banks easier. I used conventional for the first property so if I stick around for another year I can utilize the low-down payment FHA loan and be up two properties. I'm comfortable with in the financial situation that my job provides but, as the saying goes "opportunity is on the other side of fear".

I'm a Procurement Associate and I sit at a cubicle all day creating solicitations. I have my real estate license and I would love to go full-time in real estate as an agent and an investor. I have not done a deal yet as an agent besides my own deal but, I accredit that to not having enough time due to my 8am-5pm job schedule. The idea of waking up every morning and not chasing my dream is wearing me down mentally. I do not want to live average making 60k a year I want 60 million a year. I have money saved up to cover my expenses for about a year. In the book Set For Life, Scott speaks of how you should save up enough money so that you can make an attempt at a career/business with no salary limitations that you'll enjoy doing. I'm 25 years old and I understand that time is of the essence and if I'm going to tackle this journey then i need to begin now! My greatest reason for not leaving my job is that it'll be difficult for me to get financed without W-2 income.

So should I play it safe and stay at my job or step out on the limb and go full-time in real estate?

[Tyler Kastelberg]

@Quamal Burton

Quamal - I left my investment banking job at 27 and at 28 have built a business by which I am financially independent.

It's time to have an honest conversation with yourself in the mirror and ask:

1) Do I have the hustle it takes to wake up at 6 AM, work until 10 PM, and not expect a paycheck?

2) Can I realistically support myself for a year without income and two years with minimal income?

A few side thoughts:

1) You have zero downside leaving stability at 25 to chase a dream - worst case, you fall flat on your face and end up back in a 9-5.

2) I've never met anyone who told me they regretted leaving a 9-5 in their 20s.

3) Nobody takes you seriously unless you're doing it full time -- I've never met a successful realtor who only works weekends.

4) 99.9% of entrepreneurs don't get rich. If you're in it for the money, stay at your job.