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Updated over 1 year ago on . Most recent reply

User Stats

7
Posts
3
Votes
Zeke Linman
  • New to Real Estate
  • Gilbert, AZ
3
Votes |
7
Posts

Thoughts on strategy? Need advice!

Zeke Linman
  • New to Real Estate
  • Gilbert, AZ
Posted

I am excited as ever to start my REI journey.

My plan is most likely to house hack and then partner and start doing flips/multifamily rentals.

I know with and FHA loan you only need 3.5% down, but with my current job I make JUST enough to pay my bills (this is a driving factor towards pursuing REI). I am taking on a second job soon to start saving capital, but it is still going to take a good amount of time to save for an investment and I want to get the ball rolling as quickly as I can.

HERE IS WHERE I NEED ADVICE:

My idea was to get my real estate license and work as either a real estate agent or potentially property management (I have a good friend who could get me into prop managment). 

I have a sales background, so my thought was that working as a real estate agent (or prop management) under a brokerage would allow me to earn more money to save up for my first investment, and on top of that I would be able to learn a lot while working in that role. 

My questions for the community are:

Do you guys think this is a good plan? 

Is it feasible to make more than $18/hour as an agent or prop manager? 

In your opinion, would it be better to stay at my current job and work as many extra hours as possible at my second job to save (also need to allocate time to continual education)? OR would I be able to make more money and save up quicker working as a real estate agent/prop mangement?

Lastly, is the exposure and education from working as an agent worth investing in my real estate license?

I appreciate any and all advice I can get. I am working on fine-tuning a savings plan right now and want to know what the best plan of attack should be.

Thank you all! 

Most Popular Reply

User Stats

323
Posts
352
Votes
Matthew Masoud
  • Investor
  • Orange County, CA
352
Votes |
323
Posts
Matthew Masoud
  • Investor
  • Orange County, CA
Replied

You can make a lot more money working as an agent but it takes time. Many people go 4-6 months before they see their first commission check. 

Getting a job as a property manager is a great way to get involved. I recommend you go that route. Good chance you'll make more than $18/hr and you'll be gaining crazy knowledge. 

You may not need your license to work at a property management company. 

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