Should i take the job or will it stop me from pursuing my dream

Question

I recently left University to pursue my dream of becoming a successful real estate investor. I'm 19 years old from the UK and i aim to become a highly successful investor in the States.

I am trying to research as much as i can; reading books/blogs/articles etc and listening to various podcasts, i do this daily. ( i currently do not have a job and am searching for one to generate cash flow which i can save but one that will also leave me enough time to continue putting the effort and time into researching, reading and listening to multi-family investing related topics.

HOWEVER i have not yet found one as such and the past week i have had completed an interview process and was successful on achieving a marketing and sales management course where i will be fast tracked to become a manager and oversee various campaigns for various clients. The pay structure is commission based and will require a lot of my time, effort, attention and focus. Maybe too much, which would leave me little/none to focus truly on what i want to do (real estate investing). Perhaps an easy way of putting it is i am searching for a 'cash job' to save money but would also allow me enough time to continue avidly researching property investing. However this job is more of a 'career' job, but a career i clearly do not want to pursue, BUT the pay could potentially be good dependant on my performance and the skills in sales and marketing could provide useful. Although it would completely take my attention away from real estate investing

I am hoping someone can provide some much needed advice on such a matter. I thank you in advanced

Jye

David Affonso · Answer

I would continue pursuing the job.  You can always not take it or quit if it's really preventing your dreams.  It sounds like the skills learned from the work experience could even be beneficial to your real estate career.  Most industries (including real estate) have aspects of sales and marketing.

I'd also recommend taking the job as it seems like you don't have any true work/career experience.  I feel that having gainful employment under your belt of any kind will be helpful in teaching yourself about accountability, time management, and also help you secure future employment if you catch an early bad break in real estate.

If you're really interested in real estate and need a cash job to help you become an investor, a lot of folks recommend working at a property management, development, construction, or other real estate related business to learn about a specific sector of the industry.

Nick L. · Answer

Account ClosedOthers here have talked about the benefits of education and experience over raw drive. I have a different question.

As a UK expat in the US myself, I am curious about what makes you think this is a better environment? There are plenty of entrepreneurs in the UK property market who do very well, from the Candy brothers down to the average Joe who bought a couple of flats in Wimbledon at the right time and lives off the proceeds. If you get a surveyor or other professional licence this can only get better.

There are also a lot of great sales jobs in the UK. Just within the realm of property, there are plenty of opportunities to make money on both the residential and commercial sides.

For sure the US is noisier about property/real estate. Just take this site for an example. But just because Brits are lower key and more discreet doesn't mean they aren't piling the Lizzes as much as the septics are stacking the Benjamins.

Bryan O. · Answer

Just figure out which is the better lever

• Having good reserves, high sales (people) training, and a history of stable income
• Leaving University with no job, and judging from your post, not much of anything else other than passion

Both can be successful, but real estate is long term. Where will you be in 5 years on either path. For me, the job route was better because banks LOVE lending to me. I can build more properties quicker, without giving away chunks to money partners. In a few years, the job will be in the way of doing bigger and better deals. For now though, it's the best lever. You have to choose what drives you forward the best!

Best of luck and happy investing.

Jason V. · Answer

Account ClosedIt may not be necessary, but it is a significant advantage to have cash reserves and/or steady income when it comes to getting started in real estate investment. If you can walk into a bank and get a fixed 4% mortgage with 20% for your first 10 deals, you're going to be way ahead of someone who needs to get creative with financing early on.

Leland Barrow · Answer

Investing in real estate without having a job is a bit like putting the cart before the horse. You can work in the real estate business and gain experience towards your goals. No offense meant but your job sounds a bit like a MLM gig. Honestly, MLM is one of the best ways to hone interpersonal skills, increase your emotional intelligence and learn to adjust to cognitive dissonance. If your dream is investing in real estate then starting out working for a property management company, an assistant for an investor, or even as a real estate agent is a good idea. My very best advice to you would be to find the most successful real estate investor in your area and give them a call. Tell them "I am hungry to learn and I want to work for you. I will get your coffee, shine your shoes or quite frankly wipe your bottom. I will do whatever you do not want to do and do it with a passion. The best part is I will do it for free." Hopefully you will get the education that money cannot buy in return.

David Affonso · Answer

My dad job is in the staffing industry.  I'm confronted with people with little work experience looking to jump into something before they are ready.  It is important to take some shots and learn the ropes if you want to be successful in real estate or otherwise.

Account Closed · Answer

Thank you all once again for the response, it means a lot to know I have access to the knowledge of very educated real estate investors at just a click away

Bryan, I agree that perhaps a job could he very beneficial, I think I have my heart set on that job being in an Estate Agency instead of Sales and Marketing for reasons stated above, I have received a job offer from an Estate Agency provided I obtain my driving licence, which is what I'm working on now. The sales and marketing job wouldnt however allow me the time, effort and focus to 1. Obtain my driving license (only available slots in my area are on weekdays) and 2. It would sway my focus away from learning the fundamentals of real estate investing. Although I agree that the sales and marketing job could be beneficialike if I stuck with it, but my aim is to start investing ASAP, taking this job I believe would delay my investing.

Thank you Bryan and good luck to you too my friend!

Account Closed · Answer

Hello Jason, hope you are well

Exactly, any and every advantage will stand me in good stead in my investing career, so building a cash reserve is one thing i am trying to do and will continue to sustain a saving and only buying asset mentality.

Also, may i ask, do you have any knowledge on the mortgage agreements etc via from an outsider investor trying to invest in the States? (Specifically from the UK if so)

Thanks, Jye

Account Closed · Answer

Thank you Leland, I very much appreciate your advice.

I agree that the best way is to 'kill two birds with one stone' as such; saving the needed capital but also saving this capital in a related industry. The one that appeals to me the most is working in an Estate Agency as i feel it would allow me to develop the skills, save the needed capital but also allow me the time to continue avidly researching about multi-family investing.

However the sales and marketing opportunity is more heading in a different direction, albeit related in many ways to real estate investing but would require my efforts and attention to shift heavily towards that aspect and that industry, something i am quite reluctant to let happen as the effort it seems to require is very substantial and i believe for someone who sees their long term goals being at the company, i on the other hand am not looking for a long term career with the company, instead the only benefits i can see are the cash opportunities and the sales skills i could obtain in the short term.

Exactly, the education is somewhat fundamental at this stage in my real estate investing career and i strongly agree with everything you have suggested, great advice, Leland

Once again, thank you very much as i could assume you are very busy and it means a lot that you have taken the time to reply offering such great advice

Jye

Account Closed · Answer

Thank you for the response, David, it means a lot!

Your advice is very sound and I take it all on board. I also believe I need that 'real work experience', or certainly the skills it enables me to further. I am currently looking to obtain a job in an Estate Agency, like you just said, a real estate related industry. However I do not have a driving licence yet until I do obtain it (I aim to be driving in a maximum of 2 months time). So a cash job is what I need until I obtain this licence to enable me to qualify for the criteria for a job in an Estate Agency

Once again, I can't stress enough how grateful I am for the reply, David

Jye

Should i take the job or will it stop me from pursuing my dream

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