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Updated almost 3 years ago,
Real estate investing? Real estate career? or Both combined?
Hello Everyone,
Im currently very scattered right now and could use some good career advice. I've been wanting to get into real estate for a while now. I have passed my PA real estate salesperson exam however am not currently licensed yet, still looking for the right brokerage.
My question is whether or not to go all in on being an agent or keeping my day job and just slowly investing on the side? I currently work from home, have a very low stress, cushy 50k job, great benefits. I don't enjoy the work I do but it's not challenging and I often have lots of time on my hands. Basically, it's ok. I don't love it, I don't hate it.
I have been interviewing with a top producer in my area of Philly/NJ area. He wants me to be an assistant to him rather than a full time agent. I see this in a few ways.
1. It would be beneficial being his full time assistant , learning the ins and outs of the industry. Seeing how a top producer works and operates then exploring a year or two from now going out on my own? Cons- very low pay, low base salary of $30,000 with commission incentives, poor benefits. The work being primarily Showings/ Admin/ ISA lead generating. Another key thing to note is if I were to take an agent position, it would likely crush any opportunity for a lender on my first purchase.
2. Just becoming a full time agent elsewhere and work towards building my own book of business. I understand you need to start somewhere, I just don't know if it would or would not be beneficial being an assistant in the beginning or just jumping into it right away.
3. Keeping my current job, hang my license somewhere as a part time agent and work at this on the side? If I were to keep my job, I would likely be up for a promotion sometime soon and could possibly increase my income close to 60k. I also have my grandmother who is looking to sell her home soon and a family friend as well. Also as a part time agent, I can use the buyers/sellers commission I receive to reinvest into more properties. Do I just keep racking up cash to keep investing at my salary job or roll the dice being an agent, learning the industry in and out and possibly if successful increasing my income down the road?
My hopes are to just listen to a few opinions from people with more industry experience than myself. Any input would be greatly appreciated.
Thanks!