Anyone do this part time?

Question

I work a full time job, but would really like to start learning about real estate investing/flipping etc. I only have weekends free and maybe an hour or two on weekdays. Does anyone here do this on the side and have any advice on how I can get started?

Brandon Beale · Answer

Haha. A coulple  years back I tried to jump in full time after I had lost my job. I failed merably. So. Fast forward two year, a new job and a new location, I will not make that mistake again. I'll keep my job, or a job, as long as I need to. Feeding the family is important. Aditionally, I have found that having a regular income makes you less deal hungry, and able to pass up on bad deals. Takes alot of emotion and stress out of the game if you know you have an income and can provide for yourself.

Bhekizwe M. · Answer

So true, family is important.until skills (time management, deal analysis,marketing etc) are tops , there is need for caution

Alfredo GonzalezC · Answer

Hi, I lost my job at the end of last year and I decided to do this full time. My reasoning behind this decision is that full time is the way to go if you are serious about starting in the RE business. By doing it full time you are forcing yourself to 100% commitment since this is the only source of income you will have. And if you do it right, the business can kick off sooner than you think.

I am still in the process of learning, but now I am doing also, not just reading and watching and thinking. You see, it is like everything we learn in our life. Theoretical learning about some procedures and methods to do things give you an idea about it, but you really learn how to do it when you try yourself.

So, these are my two cents. :)

Good luck!!!

Robert L. · Answer

Definitely start part-time and don't even think about full-time until you are really, really sure you can sustain it because once you are full-time, you'll have the added stress of health/dental insurance and all other self-employment responsibilities (not sure if your current full-time job gives you benefits...if not, then it's a mute point).

Also, you'd be surprised how much 'extra' time you will get each day if you turn your travel time into learning sessions listening to podcasts or audiobooks about the subjects.  I turned my car into a 'university on wheels' and my downtime into 'learning opportunities'.  So your extra hour or two a weekday can be for taking action, while the other times are for learning....

Matt Devincenzo · Answer

@Joe Villeneuvenothing specifically, just the general sense I get from being around the forums. Sure there are quite a few FT guys like yourself and many others, and most of you are pretty active in the forums both learning and teaching, but by and large it seems most have some other primary source of income. Even some of the most knowledgeable people here are still PT or on the side investors.

Joe Villeneuve · Answer

Not sure those that come here to learn are by default part timers.  I'm full time, and I come here to learn...as are many others.

Frank Eimiller · Answer

In my opinion you SHOULD do "this" part-time.

It will make financing deals A LOT easier and it will give you peace of mind knowing you're not hunting down deals to just pay the bills when you're still brand new

So maybe you're asking if it's possible to be good investor while committing to a day job.. the answer is absolutely, yes

Jerry W. · Answer

@Joe Villeneuve I believe most of the folks here on BP are part time investors.  The vast majority come here to learn not teach or sell.  I have about 30 doors and am still part time as an investor.  I work a 40 hour work week at a different job then evenings and weekends I do real estate.  I do some real estate during the day, and I can do it because I am the boss, but by and large real estate is not my full time job.  My day job also is my main source of income and it helps feed my real estate habit.  @Richard Phan it really is easier in my experience to start investing while working a job.  It gives you money to live off of and an income for banks to look at to loan you money.  If you plan to flip, wholesale or other highly time consuming activities you may not be able to keep the job.  Hope this helps, good luck.

Walther Arias · Answer

Urgently! start going to all the the Local REI meetings and start networking and meeting people that can help you grow your knowledge of the business. It is possible to do it part time is you are willing to give up some free time in order to put it into learning about the business and working on getting a business plan that you will eventually be ale to put in to action.

Joe Villeneuve · Answer

What makes you think most people here do this on the side?  Just wondering.

Anyone do this part time?

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