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Updated over 6 years ago on . Most recent reply

User Stats

45
Posts
18
Votes
Craig McLaughlin
  • Rental Property Investor
  • Robins, IA
18
Votes |
45
Posts

Losing w-2 job, where to go from here

Craig McLaughlin
  • Rental Property Investor
  • Robins, IA
Posted
I just found out that my job will be going away in 2-5 years. I was semi expecting this in the next 10-15 years which is why I got started in real estate investing. Two years is too quick to have much rei experience. ThIs Is a really hIgh payIng job for the area and I am faIrly certaIn I wont fInd thIs salary near here. As I see it now I have a couple options. 1- continue working at current job with high salary and build portfolio of rentals. Get lower paying job when fInally let go. 2-leave area foR saMe salary range and sell current rentals since I am not comfortable being long distance landlord. 3-cash out and pay taxes and penalties on ~$200k 401k and really jump start my rental portfolio to replace lost income. 4- some combination of these. Considering all options at this point since I have at least 2 years before have to make decisions. Thanks

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