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Updated about 5 years ago on . Most recent reply

User Stats

171
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216
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Tab Teehee
  • Rental Property Investor
  • Lake Suzy, FL
216
Votes |
171
Posts

Who's about to quit and do REI full time?

Tab Teehee
  • Rental Property Investor
  • Lake Suzy, FL
Posted

I'd love to hear from those who are on the cusp of leaving their 9-5's, their cubicles, their corporate golden handcuffs, for a new life as a passive or not so passive real estate investor.

Will it be this year? Are you ready? Are you worried or optimistic? Does your employer and co-workers already see it coming?

Most Popular Reply

User Stats

176
Posts
182
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Chris Collins
  • Multifamily Investor
  • Newport Beach, CA
182
Votes |
176
Posts
Chris Collins
  • Multifamily Investor
  • Newport Beach, CA
Replied

Great Q @Tab Teehee: I'm literally on that cusp TOMORROW. But i have a bit of a different story than most who 'quit their corporate gig when their passive income exceeds their w2 income.'

I'm not near 'matching my passive income to my 9-5 income...' but I feel like the opportunity cost at this point is outweighing my 'secure income' of my 9-5 since I can't do real estate as HARD as I want to and am capable of at this point in my career. (if that makes sense).  I can pursue real estate full time, and do large enough deals, with the contacts I have, and the skills I have, enough to pay my bills at this point I believe.  I just closed 2 deals this past quarter, 268 units and 252 units.  My 2nd and 3rd syndication deals as a General Partner.  Does that make me 'ready to take on the world?' YES Does that mean its going to be a piece of cake? NO  ;)

I can also 'pick back up my 9-5 any time I want' since it's a freelance world. So I can step into REI full time, and if I fall on my face, I can go back and make some cash, then try it again.

My friends all see it coming, and ask if I'm 'doing it full time yet?'  so that's a good indicator to me that my brand is strong enough to push that with investors.

I spend more and more time these days actively investing, speaking at events, helping investors, etc. So this is a natural path for me.

Am I scared / Worried? YES... Absolutely.

Am I confident that I can do it? And that there's wealth in abundance beyond my current job? YES!

I'll take all the encouragement I can get though :)

What about you? Scared? That's GOOD! Progress is on the other side of discomfort. So go through it, and let's GO!

  • Chris Collins
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