W-2 or start a career as an agent with the aspirations to invest

[Alex Rojesky]

Recently I've developed the growing passion of real estate in all aspects. Over my handful of months of reading and research I've set the goal of making my first investment in a year and a half. I've set out two paths I'm weighing the pros and cons on. 1. My current position, I am 23 years old and my occupation is welding. As you can imagine, my income isn't as much as say an engineer.. I make an average income. I can either take the next year to save, save, save, keep my w-2 job and invest. 2. Like I mentioned before I have developed a passion for all aspects of real estate and am currently in the process of diving deep with research in becoming an agent. Now becoming an agent could set back the investing time period due to the uncertainties of a real estate agents first year, but It is something I feel would be a huge benefit for future investing aspirations. Open to all thoughts and opinions!

[Jake Thompson]

I would caution you against leaving your job right away. It definitely can be done, and if you absolutely hate your job you need to find a way to get out as soon as possible. However, the failure rate for agents is pretty high from what I understand. It requires a lot of hustle for sure. There are also other ways to get involved in real estate that include property management, working for a lender, wholesaling, birdogging, etc. If you haven't already, check out the book 'Set For Life' by BIggerpockets' own @Scott Trench. He sets out a great path for picking up your first rental by saving and househacking. As others have pointed out as well, the w-2 job will be very helpful in qualifying for a bank loan. You can try to combine the househacking strategy with the BRRRR strategy as well to pull your money back out. Rinse and repeat every year or 2 and you will be financially free before not very long at all! Ask your lender about the fha 203(k) loan.

Good luck and congrats on making the decision to start investing in real estate!