Would you leave your job in this situation?

Question

Hey BP community, I have a crazy scenario to throw at you, that could be really scary but everything I have been praying for.

I hate my job. I work in finance and every Sunday I start to get in a bad mood because it’s the start of a new work week. Great company, I’m just a VERY entrepreneurial person who would love to work for himself and get paid based off my results. I have been obsessing over real estate and the power of real estate for the past 4 years. If I HAD to work my dream job would be a realtor- im very networked and known in my community, and with my passion for real estate and work ethic I know I could do great. I was actually preparing to do that, but then my girlfriend and I ended up having our son (he’s amazing).

Okay so that’s the background. My dad knows how much I hate my finance job, and sees my passion for real estate so he has offered me this. 1 year to pursue being an agent, and an investor (flips, brrrrs). He will pay my salary for a year, and give me a 200k loan for flips, BRRRRs, or whatever I want investment wise.

I want to say it’s a no brainer, but it is also scary, simply because I have a son now and work for a great company. But I have been able to generate leads while working, and I know if real estate was my one focus I could kill it.

Would you take this opportunity?

Nicole Koch · Answer

Steve,

Yes Sir I would Jump on Your Dreams I'm definitely not experienced in REI/REO ..I wish to be doing this one day..

But, You will regret not Trying , and No matter what you have Your Family and all and all Creating Happiness... For others/ pursuing your dreams thats the Ultimate GOAL

Best Wishes

Nick C. · Answer

If you don’t do it you will be filled with regret the rest of your life wondering what could have been. If you do it and it doesn’t work out, you can always find another job in finance that you hate that will put you in a bad mood on Sunday.

Brian Armstrong · Answer

This looks like an awesome opportunity, but make sure you are thinking things through. What is your goal in real estate? Do you plan to continue working as a an agent after the year is up? The reason I ask is because while 200k is a lot of money, you will not be able to live off the income that that money makes you as an investor. So you need to ask yourself do I need to start generating income with this 200k? Or is it going to be used for the start of a long-term portfolio? If you want to survive off that 200k you will most likely to choose an active strategy such as flipping or wholesaling to generate your living income. If you put it in more long term buy and hold stuff then you will likely need to continue a real job for quite a while.

Just some food for though.

Liz Beaird · Answer

I would do it 💯 even with a kiddo. But since I don’t know what city you live in, you might need to ask yourself real quick, if the market size and activity level could sustain some ups and downs, especially since both you and your girlfriend are agents. Dips could drastically affect y’all’s income in a downturn. However, as Nick C. Pointed out, you always have your other career experience to fall back on if needed. You would also want to make sure you save for a rainy day during the good years. I actually can’t think of a more amazing safety net than what you’re father is providing, as long as you’re work ethic is good. Plus, there’s nothing more motivating to hustle than a baby! Work hard and smart, and this could be a better chance at following your dreams than most people get!

Steve Adler · Answer

My thoughts exactly! I can not imagine how I would feel about myself 5 years from now if I didn’t jump on this opportunity!

Steve Adler · Answer

I would plan on being a realtor for forever, even after being financially free. Real estate is a true passion of mine and something I could see myself doing for forever. I would always be a realtor, and use that 200k to flip, and brrrr properties.

Steve Adler · Answer

She actually is a realtor herself. Also income would not be an issue for the first year because my salary would be paid!

Michael Dumler · Answer

@Steve Adler a lot of variables at play here man, and to be honest I'm probably not the most suitable person to be giving such major life advice, but a couple things do come to mind. First, is your girlfriend employed? If business is not going well for you, having this to fall back on to ensure income is viable each month will certianly help. Second, have you had any sales experience or dealings with investment properties before? To be blunt, this industry can be ruthless. A lot of rejection and hassle. Do you have the time and resources to maybe start out as a part time agent? I would consider seeing if you can get a deal or two done while still working full-time in finance.

The entrpreneur part of me wants to tell you to go for it, but then again, I don't have any kids nor any major responsibilites so, it's a totally different position.

Would you leave your job in this situation?

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