Balancing Recent Tech Promotion vs Future Real Estate Dream

[Richard Mur]

Today I was promoted/given raise of 19% during annual review. I had not been promoted in nearly 3 years and had been getting 4-5% raises in my review each year. It's big news and I'm certainly grateful.

Prior to all this a few months back, however, I had done a lot of introspection on where I am in life and what I want. Aside from college, I've lived in the Bay Area my entire life. I'm 31 M, single. I wanted to adventure and experience "newness". I also wanted to "work for my money" more and have more control in my day to day job as I currently work operations. I decided I wanted out of tech. My current company was also spun off and purchased by a competitor last week. We laid off 200 people 4 weeks ago to prepare for this layoff and we have no idea what this new company will do with us yet. Everyone on my team has been laid off except me and my boss, so we'll be re-hiring and planning on getting leaned on quite a bit. Right now, my promotion is set to kick in late March.

In October, I began my new vision in Real Estate. Not only would I be changing careers, I'd be leaving California and traveling halfway across the country. I did a lot of research and found an area I like while also providing large potential for future economic growth, along with social things that align with my hobbies. I visited the area for a weekend in October on my own and I fell in love with it. This is where I want to settle down, marry, have kids, own and flip homes.

At this point, I'm set on leaving and ready to take the steps to being a Licensed Real Estate Agent and move. I mow through my RE class hours, working my tech job by day and Online RE classes by night. I pass my School exam and submit all the applications to take the state exam. I've just received acceptance to take the Real Estate Exam in my new state and have booked a flight out to take this exam in 4 weeks.

What do I do? Just let it all play out? Request to work remote with my current job and do real estate in my new state part time, for now? Quit my job and do Real Estate full time? I want to succeed in Real Estate and I know I need to invest a lot of time in learning and succeeding in this industry.

[Arlen Chou]

@Richard Mur is your plan in real estate to be an agent or actually to invest in properties? It sounds like you have a strong W2. Contrary to popular belief freeing yourself of a job is not always optimal, especially at the beginning of your real estate journey. You will need the W2 to get loans. Talk to anybody who quit their job first and then tried to get a loan from a bank... it is nearly impossible. You are young and single making good money in the Bay Area. Without knowing your reason for wanting to leave CA, I would recommend you hold your W2 as long as you can and get the grind and hustle going. You can still get your license out of state and invest in that city you eventually want to land in. Find deals during your week, and set up tours for yourself on the weekends. IF you want to trade your tech job to be an agent that actually works with clients on the sell/buy my suggestion probably will not work. You need to be in the market to build up a client base and a reputation.

Good luck!