I have had it! Leaving a big bank & big career in Milwaukee, WI

[Michael Olson]

Hello Bigger Pockets Members!

I am extremely glad to have found this forum after listening to the audiobook on "Rental Property Investing" by Brandon Turner.  I truly believe that "things happen for a reason."  I have written a very detailed "essay and business plan" about where I am and where I am going.   Here is the short version for busy real estate investor's:

As a financial advisor for nearly 20 years, I am passionate about helping people build wealth.  I have just realized that I am tired of building wealth for my firm.  I have no exit strategy from my career - other than a 401(k).  When I stop working, my income stops.  I want to begin REALLY building wealth for MY family.  I realized that many of my most successful clients have a large component of real estate in their plans.

As an aviation enthusiast, I am completing my private pilot certificate.  I have always had a passion for flying.   It has been a long road that I began nearly 40 years ago.  My father was physician but enjoyed being a private pilot (recreational only).  We we would travel together and I loved every minute of it!    I will complete my certificate this summer.

My wife says she can’t believe how good I am at building, fixing, and repairing things. I do have a passion for these things. She says she loves that I am a businessman that likes to get muddy, greasy, and dirty.  Contrary to many "analytical types" I would rather fix something myself, than have someone else do it. However, I don't have time with my current career. I can only get things done in my spare time as directed on my Honey-Do lists. I would love to be able to do more!

The light bulb when on for me last week!  All three of these passions can be combined through real estate investing!  I realize that I want to invest in apartment buildings with 16+ units to begin and replace my income within 2.5 years (when my son graduates from high school).  I don't plan to retire then as I am just getting started.  I want to create a legacy for my family and spend time doing things I enjoy and spending the time with the people that matter to me most.  Eventually, I will be able to fly myself to different properties as I expand ... a practical use!

I am posting this primarily to memorialize my plan (the summary of the plan) and now I need to get on to the next part of my life ... thanks Bigger Pockets!

[Marcus Auerbach]

Originally posted by @Michael Olson:

Hello Bigger Pockets Members!

I am extremely glad to have found this forum after listening to the audiobook on "Rental Property Investing" by Brandon Turner.  I truly believe that "things happen for a reason."  I have written a very detailed "essay and business plan" about where I am and where I am going.   Here is the short version for busy real estate investor's:

As a financial advisor for nearly 20 years, I am passionate about helping people build wealth.  I have just realized that I am tired of building wealth for my firm.  I have no exit strategy from my career - other than a 401(k).  When I stop working, my income stops.  I want to begin REALLY building wealth for MY family.  I realized that many of my most successful clients have a large component of real estate in their plans.

As an aviation enthusiast, I am completing my private pilot certificate.  I have always had a passion for flying.   It has been a long road that I began nearly 40 years ago.  My father was physician but enjoyed being a private pilot (recreational only).  We we would travel together and I loved every minute of it!    I will complete my certificate this summer.

My wife says she can’t believe how good I am at building, fixing, and repairing things. I do have a passion for these things. She says she loves that I am a businessman that likes to get muddy, greasy, and dirty.  Contrary to many "analytical types" I would rather fix something myself, than have someone else do it. However, I don't have time with my current career. I can only get things done in my spare time as directed on my Honey-Do lists. I would love to be able to do more!

The light bulb when on for me last week!  All three of these passions can be combined through real estate investing!  I realize that I want to invest in apartment buildings with 16+ units to begin and replace my income within 2.5 years (when my son graduates from high school).  I don't plan to retire then as I am just getting started.  I want to create a legacy for my family and spend time doing things I enjoy and spending the time with the people that matter to me most.  Eventually, I will be able to fly myself to different properties as I expand ... a practical use!

I am posting this primarily to memorialize my plan (the summary of the plan) and now I need to get on to the next part of my life ... thanks Bigger Pockets!

Hi Michael, welcome to the world of real estate investing and to Biggerpockets! We are excited to have you! Your motivation reonates with me, as I have a similar story. I used to run in the corporate hamster wheel. After a career in Europe, I was asked to relocated to the US, where we built a $100M+ construction equipment business during probably the worst time 2008 to 2015 that is printing money for the owner of the company - and of course it was never good enough, never fast enough and never profitable enough. Whatever we achieved, the goal was always higher and I got roasted quarterly by the board in Germany. Meanwhile I had found my passion for real estate investing and what started as a hobby grew into a full blown business on the side. And of course building your own business is so much more fun than making money for someone else. When I was asked to pack up and start over with China and India (which had been a strategic failure so far) it did not take me long to make up my mind and quit. It still felt like jumping from a bridge - it's hard to quit anything after almost 20 years, let alone say good bye to a nice monthly paycheck. But I did it and it was the best decision. I have so many great memories from my corporate time, I have learned so much, it afforded me great opportunities and gave me a large sandbox to play in - I would do it all over again, because it got me where I am today - real estate!

So Michael, your plan is very doable, it may take a bit longer than you think and it might materialize in a different shape then you imagine right now, but it's a great direction and it sounds like you are fueled by passion, which in my opinion is what makes the difference and answers Brandon Turners usual questions: what do you think seperates the successful investors from those who fail or give up? I wish you good luck for your journey and never hesitate to reach out or post a question here on BP!