First deal done and looking at an uncertain future...

[Samuel Merrick]

little about my situation: I've been living on the road, working as a musician on a steady running touring Broadway show for the past two years, making an amazing salary. I've been fortunate enough to save a chunk of money, some of which I recently used to make my first deal, buying a single family home in East Nashville, thats already rented out and cash flowing $350/m. I have a trusted team in place already and truly want to continue to invest in that general area. However, despite the paycheck, I have to come off the road at some point for my own sanity’s sake (maybe in a year from now?). I want to continue further down this path of real estate investing but I feel that there's an expiration date for me since the W2 will not always have my back. I don’t want to by too much too fast but also don’t squander my ability to get financing. I realize there is no clear cut solution to this and I ultimately have to be the one to grab the bull by the horns (which I'm doing by absorbing as much real estate related content as possible), but I'm more just curious if anyone else has ever been in a similar situation where you felt like the clock is ticking. Would love to hear anyone else's experiences. Thanks in advance.

Sam

[Evan Polaski]

@Samuel Merrick obviously no one can answer this question for you.  I have a friend who owns 120+ units, and he only left his W2 job because he was laid off.  His wife managed the portfolio.

The W2 always helps underwriting.  But to answer your question, I would set a threshold on the returns you want from your investments, and manage to that.  If you see a property that hits your returns, buy it.  If not, even if it is close, don't.  Overtime your return requirements may change, but the fastest way out of the business is getting deal hungry and just buying because "you feel you need to".

Good luck on your journey.  It can be fun and lucrative, but the big money in real estate is the patient money.