NEED ADVICE!Whats more important Experience+Connections?or MONEY?

[Robert Lisak]

Hi Bigger Pockets Family!

28 Y/OI am a big listener since 2015 and I am just dying to begin my career to invest in real estate someday. I do not usually ask for help for stuff like life advice but, I believe this is a community that can give me some great feedback since I am serious about working towards being an owner of many properties one day. I don't really have many people to turn to since most of my friends do not work in Estate and aren't extremely wealthy. Infact many of them keep telling me to get a governent job like them or a blue collar job and just put in my "hours" and save!!!! But thats not me! I want to work hard and make stuff happen by investing and waiting for that day when the wait was worth it! Thank you in advance for reading and I would greatly appreciate some feedback from anyone who has been in my shoes at some point.

Background:

• Family owns a 4 unit which I grew up doing basic remodeling with my family. Currently finishing a full remodel of  a unit; new everything-kitchen, hardwood floors, the works. 11K investment with hired labor. First complete remodel in the apartment (Ton of sweat equity, 70% labor completed by myself over 5 months, very handy person)
• Started a small lawn-mowing business at 14, ran it until 24 after college, began internships-corporate entry. First experience building a business system, have been trying to do it again since but, needed money plus had a serious loss in the family...
• Age 21 began flipping anything I can. Most successfully, I have been flipping cars/vehicles. Have become very skilled in many ways at this since I am very handy and learned from a mentor from a massive privately owned dealership that a family friend owns..
• Age 22 Father passed away from Cancer, move into apartment with mother. Take over man of the house responsibility.
• Age 26-Present Begin working corporate in the transportation industry. not a good fit but, make 52K a year, Net 38K. Invest much of this into flipping/hustling. Has been successful, hoping to turn this into a 20% down payment on a multifamily. Coupled with flipping, this will take me 4-6 more months for the 20% and to have cash on reserve.

I had the opportunity to work for a Real Estate Title insurance company before I got into corporate after school. I chose to get a job that is a guaranteed pay biweekly, experience, and also insurance. The amount of hours we do are just ridiculous and after 2 years, the industry is just not for me. The amount of profit I make off one vehicle which takes me 2-3 days to get up for sale is the same amount of money I make from work in one month working income net (23 days of work 9 hours VS. 3 days of work = same profit).

Not learning much towards my goals and ambitions at my current job. In-fact it motivates me after hours to work even harder when I leave work. I keep thinking though that I passed up a great opportunity to meet people in my local area who can help me begin to build my dream of owning a portfolio of properties. It is not too late to go back because I have a good relationship with the owner and am a great salesman but, it does not pay as well as my current job from what I gather. 

Here is my question - what would be more beneficial to me? - getting the experience of seeing how transactions work in Real Estate and meeting the agents/lawyers/banks to solicit Title Insurance but, not making as much in the short term -OR- Finding a different job that doesn't suck as bad that pays much more and just figure everything out as I go along. In the short term, I will have more money to be able to secure a deal quicker. In either scenarios, I would still be flipping like crazy, in-fact 2018 i'm literally going to snap since I will have a ton of capital to work with and will be spending even less time on units. 

The philosophy of my close friends that I have followed was go where the money is and security. Many of them in-fact now have government jobs. However, my closest friend at this point owns a dealership and is a hidden multimillionaire with investments in many things. He is in fact pointing me in a different direction entirely in the car business. 

SO yea, I have a lot that I am constantly thinking about. I need a plan and after I do, I am going to crush it but just do not know which route to go... Thank you so much for taking the time to read this and I appreciate any feedback you can offer me. 

IN SUMMARY

Should I leave my 52K a year job to do Real Estate Title Insurance and meet people in the industry as I begin my Real Estate Portfolio but make less money OR Should I just find a better paying job and figure it out as I go along once I have money.

Thank You,

Robert

[Zachery Buffin]

Sure, I am glad it was at least a little helpful. If I were you I would set some goals that I could work on while I maintained the job I had. Honestly having a job you dislike it actually a great motivator and is a good thing. Comfortable people don't take risks nearly as often as uncomfortable ones. How about some concrete suggestions rather than abstracts, keep in mind these are examples and you can modify them anyway you want.

1) Read or listen to 2 books a month

2) Listen to every podcast from BP

3) Analyze one deal everyday

4) Find your local REIG (Real Estate Investor Group) and attend one event a month

5) Seek one avenue of real estate you have never really done and research the crap out of it

6) Start talking to banks, get prequalified if you can, be ready to move on anything you find

7) Make a point to mention to everyone your meet that you are interested in investment property

8) Get on a few real estate agent's lists and get a feel for what properties are going for in certain areas

9) Call bandit signs of we buy houses people, get on wholesaler's lists

10) Research property management companies in your area

11) Spend your weekends driving for dollars (possibly while uber/lyft driving to make money while you do it)

12) Read a real estate investment article every day

13) Sign up for a webinar every week on BP

14) Keep asking questions here!

These are just some things you can do in the meantime, start building your side hustle as a real business. Start investing hours into it like you would a real job, that way when you are ready to make the jump you won't be starting cold! You will have already been doing the things you need to do and increasing your knowledge every day. By the time you do the first deal you will feel like you have already done more! (hopefully, haha) Good luck!