Transitioning out of a full-time job into real estate

[Trina P.]

My husband is working full-time at his job which pays well but is full of stress and long hours making it difficult to spend enough time on real estate. We want to get him out ASAP and transition him into working full time in real estate. I work full-time as well but my job is awesome so no complaints there. I ran some calculations and we could get by for the next few years with my husband reducing his income down to $50k a year (about half what he's making now). We currently have two properties under our belt. One buy and hold and another flip we're selling soon. We're planning on purchasing a multifamily here in Fort Worth where we live within the next few weeks. Our long term goal is to build up our portfolio with buy and hold properties that can make us financially independent. We plan on creating a portfolio of multifamily properties and establishing a property management company to run them. With his construction experience, we see my husband managing the rehab schedule, overseeing contractors, maintenance, and getting our properties ready to rent after the acquisition.

My question is, can anyone provide recommendations for career options that could work as the Interim solution whether part-time or full-time for my husband as we transition him into full-time real estate? The interim would ideally be related to real estate and help increase our knowledge. The reason we would be willing to take such a salary cut is to invest in more free time to focus on real estate. He's 5 years into his career in construction management so we have considered an inspector, appraiser, wholesaler, property manager's assistant, project manager of some sort but we need more ideas especially with jobs that have a flexible schedule. Any other insight/feedback would be great. Thank you in advance!

[Ronan Donnelly]

Hi @Trina P., it looks like you have already thought this through. I would recommend working for a property management firm that specializes in the area/asset class that you want to invest in. That will allow him to leverage the skills he already has in construction management, learn the business that you want to build and to be exposed to players in the space that you want to be in. Good luck!