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Updated over 4 years ago,
Realtor Side Hustle or more W2
Hello everyone! My name is Chris and I am a Firefighter/Paramedic in the Central Florida area. Over the last couple of months I have been immersing myself in learning about REI through books/podcasts and browsing these forums daily. I have decided that within the next 6-18 months I will purchase a rental property. My main dilemma is that I am at a crossroads for picking my side hustle. I have two paths that I could see myself exploring.
- A. Second W2 Job(Work in the hospital as a paramedic)
- B. Get my Real Estate License
Below I have a Pros & Con
PM/FD:
Pros:
Guaranteed Income
Can Start 1> month
Less to learn(Wont be learning a new profession)
Cons:
Capped Salary/Income wise
Wont be as hands on to learn more about the trade
Real Estate License:
Pros:
More hands on in the Real Estate Sphere
More potential to meet/build relationships w/ like minded individuals
Potential for more income??
Save money on buying properties(being my own buyers agent)
Cons:
Potential for less income
3-6 Months to get my license(spend 2k+ lose out on potential income from a second job)
I feel like working the Paramedic job is the safe choice. It would allow me to have a guaranteed income and focus more on building a “team” rather than learning a new skill and then trying to do everything myself as a complete beginner. On the other hand the RE license I would be able to learn more about the trade that I am interested in. With the Fire Department Schedule I will be able to put time into both options. Either way I would be able to start investing in 6-18 Months. Any advice would be appreciated.
Thank you,
Christopher Zegowitz