Should I take this job offer?

Question

hello bp, I really want to get into real estate investing. I would say that I know a decent bit from research but no street experience. I just finished my real estate licensing course.

I have been offered a job. It pays $26 an hour, so the average person would say it's a great opportunity. I would have to move 12 hours from home. The job is 8 hours a day, 7 days a week. It's a potential long term career, but obviously not something I would be interested in for good.

After expenses, I could save right at $20,000 in 6 months (I get a big tax deduction from moving, only 8 is taxed).

I want to do flips but I have no capital and definitely no credit. I know there's plenty of ways to do flips without much money (hard money lenders, personal lending, wholesaling) but I think having $20,000 in the bank would be a definite plus.

ALSO another note, I am young with no kids and no relationship. I am very close with my family and friends though.

Craziest thing is I just read rich dad poor dad and now I'm getting offered a job for $26 an hour. Do I take the job and give up 6 months of my life for $20000 or do I spend the next 6 months getting my license and work under a broker and try to get some deals going?

Fred Weinkauff · Answer

Hi Chandler Diaz,  Getting started selling Real Estate will be a long slow start and no guarantee that you will be able to sell and make a living doing it. Most successful Realtors have an established clientele and the real power in selling real estate is to have your own listings so you make money even if you dont sell the properties. Personally I would take the job, bank all the CASH you can while you are young. Having a small pile of CASH in the bank will be a great asset to you when you

buy your first property.

James Holland · Answer

you had me at "obviously something I would not be interested in doing for good"

So I have always been the "oddball" in my family. The "free thinking" if you will. I have NEVER believe in doing anything because you "have to". or supposed to. Life is short. Every day is not guaranteed. You should spend any of the precious moments doing what you don't enjoy doing.

That is how most of the world get stuck in the vicious cycle of doing a job they hate, wishing for the weekend or the miserable 2 weeks vacation a year... then back to do it all over again and wait for next year. Are we really meant to only enjoy 2 of the 56 weeks a year just for some promised happiness if you save and work hard.. someday?

Why can't we have both? Why cant we enjoy every single day ... AND still work for something great.

So... it is not clear if you are excited about the job because of the job... or because of the $26 an hour.

But no one could pay me enough to spend 8 hours a day doing something I don't enjoy.  This is coming from someone who walked out on a 6 figure corporate job after they just gave me another raise. that was 8 years ago and I have never looked back since

If you think you will enjoy the job and the experience... I say take it. If the job sounds like ... just a job and you are doing it only or the money... I would say absolutely never!  You will only resent it later

Jean Bolger · Answer

Getting started in  real estate investment without capital is really really hard. You will hear inspiring stories (some here on BP) of people who've done it. That doesn't mean that it is a reliable way to get started - I'm sure there are many more people who tried to get going without $$ and gave up. I would say take the job, live as frugally as you possibly can, and save everything you can. Read the MrMoneyMoustache.com blog for inspiration on how saving aggressively when you are young can get you to financial freedom pretty darned fast.

I can assure you that getting people to lend you money for a real estate venture is MUCH MUCH easier once you have some in the bank. Also, with w2 income it will be easier to qualify for financing.

It's kind of ironic that I am giving this advice, considering that I have always been self employed! I don't have any regrets, but looking back, I can also see how sucking it up for a few years and having a job early on could have helped me.

James Holland · Answer

Do you HAVE to take this job?  Is there another, more enjoyable option? If this were working exactly as you wanted it toto, what would that look like? The perfect scenario?

Matthew Paul · Answer

When opportunity knocks , you have to open the door , if you dont it will pass you by

Chandler Diaz · Answer

I am still unsure what to do :(

Chandler Diaz · Answer

thank you for the input Fred I just don't want to get stuck in the cycle of things I guess

Chandler Diaz · Answer

@James HollandI am the exact same way I don't want to be a part of the rat race for the rest of my life. The job isn't something I would like by any means. It wouldn't be like torture but it would definitely just be a dull moment of my life but it would be nice to have $20000 in the bank. But in the meantime I know I won't be able to save much money at all which is bad because I want to do flips. I know that even though I will get a lot of experience from working with a broker that I will be new so I don't expect to make much for a while and I'm stuck on what to do

Fred Weinkauff · Answer

I have had several jobs in my life that I just used as stepping stones to something bigger. Just remember that job that is just a job, you dont have to do it for ever.

Should I take this job offer?

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