Take a sabbatical from regular job to focus on RE venture ...

[Henri Meli]

Has anyone ever taken extended time off (2-3 months) from their regular job to focus on their real estate venture? 

I'm interested in purchasing a multi family, that will require a good amount of work. After the purchase, I imagine I will be spending lots of time supervising improvements to it for a good while, until I can stabilize the whole thing. I get the standard 2 weeks vacations and holidays every year, but that's not nearly enough. I can afford to go a few months without a regular salary.

Can a few months off have any impact on my ability to borrow money down the road (after joining the 9-5 workforce again)? 

[George Krajacic]

Hi Henri,

I would suggest no to quit your job to do renovation. You are trading one job for another and at the same time maybe jeopardizing both jobs! Really, I cannot even make the statement I just made because I don’t know why you are considering doing that! So let make few assumptions, that might be complexly off base, but we must start somewhere. When I analyze the deal that I am considering flipping or renovating and holding, if there is not enough room to hire good general contractor to do complete renovation and still have an excellent deal, why do it? Go find a better deal. The money you would save by supervising renovation you would lose by not earning a paycheck on you regular job. If lack of sufficient funds is the issue I would find a partner or do the smaller project. Without complete picture of your situation this is the best I can do.

In any case, good luck to you whatever you decide to do.

George Krajacic