Take the Plunge REI Full Time?

Question

I currently work an easy 3rd shift job full time and 2 shifts a week at a second job part time. At my full time job I can spend close to 8 hours each night on real estate things if I want to because I have my time to my own.

However I’m feeling burnt out and would like to move to REI full time. I have 6 buildings with 12 units rented, I househack #13 and 2 more are being renovated.

If I utilize my cash flow and continue working the 2 part time shifts a week I will still have the same income. There are plenty of additional shifts should I need them at the part time job but I’m looking to downsize the W-2.

For those of you that have taken the plunge, did you have any regrets? Or would you recommend I stick with both jobs a little longer and raise capital to fund deals and retire in 4 years as was the original plan?

Ryan Taylor · Answer

Alecia,

That's awesome you are even able to consider going FT REI...bravo!! Good problem to have. If your 3rd shift FT job is "gravy" and you still get to spend the 8hrs on RE things...that's money in the bank. As I'm sure you know, evidenced by having 6 buildings, wealth in RE is gained by delayed gratification, among other things . I currently have a career that pays very well. I was recently standing outside one of the buildings I was working in, and it was early morning, 5am ish...I decided right then and there...I didn't want to work in these buildings anymore...I want to own them. Now, your situation sounds better than mine, given you can actually consider going FT REI. I on the other hand have to continue the W2 for now...cause I know that "delayed gratification" will eventually allow me to possibly own said buildings. And I guess that's my point...I think your original 4yr plan in sound...Id stick with that

Congratulations and good luck to you on whatever you decide.