Getting laid off... would like to advice

[Brent Neuenschwander]

Hi all, not sure if this is the right forum but thought I would give this a try. I just found out yesterday I’m getting laid off from my job in 2 weeks. I’ve traveled for work for years and in August 2015 I was lucky enough to get my current job, right next to my hometown and me & wife’s family. We have two kids, 3 & 1, so it has been great to be close to family. The job pays well too – about $140k a year and the wife does some part time work from home. A few months ago we purchased our first investment property, a 5 unit building that we’re about to start major renovations on.

The job I’ve been working for the last 9 years, while it pays well, has been getting old. Sitting in a cubicle looking at a computer screen. I know many people would kill for that type of job and I’ve been thankful for it, but for the last year, while I’ve learned about real estate and taken the plunge with these first apartments, I’ve begun to think a lot about doing something different. However, it’s hard to turn down good pay. I’ve just started looking around for other jobs since I learned about getting laid off, and I’m pretty sure I could make the same, if not more, if I were to move. The way I’ve figured it, with us being able to sock away $3-5k a month, I could replace my income with ~ 10 years of real estate investing and shoot for an early retirement (I’m 32) if I were to move and keep working this type of job. The issue is, family is here, we like the area. But if we were to stay here, I’d probably have to either start something up on my own, have my wife work, take a big pay cut, likely a combination of all of that.

I’ve tossed around the idea of being a real estate agent. I’ve never worked in sales, but I have worked in customer service and am pretty good with people. My interest in the field is definitely higher now that I’m an investor, and it might help with finding deals. But, I’m sure at least for the first several years, I won’t be making near what I could be making if I were to stick with my current type of job. But there is something to be said about working on your schedule, working on commission etc that appeals to me.

I guess to wrap this up, I’m not really sure which way to go. Do I stick with a high paying job, which will probably allow us to scale back or quit the rat race in ~ 10 years (maybe less)? Even if it’s not the most fulfilling career, and it means we’re moving? Or do I try something completely new that could potentially lead to a great and more enjoyable career but comes with uncertainty? I’m sure a lot of folks on here have been in this position – what have you all done? Any advice?