Impossible to invest while working FT?

[Daniel Ramirez]

I wanted to ask if anyone here can share there experience in wanting to invest in real estate, specfically fipping homes or buy and holding, while working full time? I am currently working full-time and am interested in investing in real estate but my time is some what limited. Has any faced this situation? And if so how did you manage your time with work and family?

[Arlen Chou]

@Daniel RamirezI currently have a full time W2 job, married with 2 kids and do my own rehabs.  It is no way easy to do, but it can be done and it is really rewarding both financially and personally.

My kids are 13 and 11 and I do homework with them and help them prep for tests.  This takes planning, but can be done.  Their homework load is not that bad at this point.  

My W2 work runs a minimum of 40 hours per week, but much of my work can be done via email and smart phone.  

The rehab work is done on nights that kids homework/test schedule will allow.  As a matter of fact I will be heading to one of my properties tonight to put in a few hours of work installing kitchen cabinets. I pull my kids in on some weekends to help me with demo or painting.  I think getting kids out from behind screens and making things is important in this age of Youtube and Netflix.  

I do not watch TV, even during dinner... I have no idea what is going with the Walking Dead or Game of Thrones.  

Rehab time on a calendar timeline takes much longer, so holding costs are higher.  However, trying to find good, consistent and honest contractors that are affordable is not easy in the SF Bay Area economy.  So I forecast a budget using licensed contractors and back out potential extended holding costs of doing the work myself and compare overall potential dollars spent and decide if it makes sense to do the work myself.  I buy my materials during my lunch breaks so I am ready for a night or weekends worth of work.

During my drive to the site and back, I drive for dollars looking at neighborhoods around my property.  I don't have tons of cash to buy multiple buildings at one time, so learning neighborhoods is free and it does not take that much more time then driving directly home.

Many people would say I am crazy for doing work that I could pay somebody $15/hour to do.  However, the reality in my market is that if I get a contractor it is much more than $15/hour.  The guy I could pay this low of a rate is either undocumented or some retired guy who does not move very quickly.  In both of these situations you run the risk of workers comp lawsuit or worse.  I would much rather stay safe and pull the permits myself and do the work.  

Am I missing out on anything in life in exchange for this crazy schedule?  I still took my daughter to her Halloween dance last Friday and took my 11 year old son out for a 18 hole round of golf on Sunday.  I had breakfast and dinner with the family every day and I still had time to level a kitchen floor, install wainscot in the kitchen, install 2 lower cabinets in the kitchen and cut back some bushes.

It can totally be done, but you have to plan and stay focused!

Good luck!

-Arlen