Is it Possible for my Dad to Leave the Rat Race?

[Jeremy Drawas]

Hi BiggerPockets,

I was recently having a discussion with my father, who is 60 years old, about leaving the rat race and starting to work for himself in real estate. He has been a Chief Marketing Officer at several different large companies over the last couple decades. Additionally, he has a keen eye for real estate and the work required to fix a property.

He is aware of the buy and hold strategy (which I currently employ); however, he is skeptical about the prospect of Real Estate becoming a full time job that can support his life style (approx. $150k post-tax income /yr would be his requirement). I explained to him the principles behind flipping and wholesaling and he was able to grasp those concepts quite easily. 

If he saw opportunity here, he would work full time in real estate with the help of my mother and I. 

BiggerPockets community: What do you think? Can he do it? How long would it take him to earn $150k in annual income? What might an operation earning that amount of money look like? Thanks in advance!