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Updated over 6 years ago on . Most recent reply
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Investing Part Time vs Full time
I am a 34 year old web developer in Milwaukee. I purchased a single family home in 2015 in Wisconsin and did a full rehab on the house with the help of contractors. I really enjoyed the work and have been torn between working full time as web developer and getting better at my job and investing part time or focusing my time into full time into real estate investing.
As a web developer I spend most of my day in a cubicle behind a computer screen which I do not like. I don't necessarily hate the work but I do not enjoy spending the entire day in an office. My concern is that by focusing on web development I could make more income which would allow me to invest more. However by taking this route I am working my way farther into working a 9-5 in an office vs creating my real estate empire. My fear is that full time investing is a unrealistic goal but I believe in focusing on one thing. I understand this is something I have to decide but I am looking for advice from experinced investors which could help me make a good decision.. Thank you !
Most Popular Reply
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What do you do from 5am -9am and 5pm-9pm? That is 8 hrs of your day that you can work on your side hustle. You may not be caught up on the most current netflix show, but it's your life. You need to decide what is important to you and your time. As marcus said above you need replace your current income with investing income, or atleast steady passive income to cover bills. But losing your W2 will slow down investing unless you have private or hard money. You also left out many key details. Family? single? Debt load? willing to live in flip/ rental if this fails? Many other things to consider.