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Updated about 9 years ago on . Most recent reply

User Stats

65
Posts
6
Votes
Michael McDermott
  • Developer
  • Media, PA
6
Votes |
65
Posts

"Career" options for a young investor

Michael McDermott
  • Developer
  • Media, PA
Posted
I have 3 units under my belt as of now and all are cash-flowing pretty well, but I am still stuck in my dead end 8-4 job and I need out! I have put up with it long enough to get me where I am now but it's mentally draining me. I thoroughly enjoy everything I've done with real estate and learning as much as I can. I've decided that I want to peruse a career where I can adapt what I learn on the job to my own properties and need some help where to start looking. Aside from a real estate agent and mortgage broker, what are some jobs I should look into?

Most Popular Reply

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5,028
Posts
2,573
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Curt Davis
Agent
Pro Member
  • Flipper/Rehabber
  • Memphis, TN
2,573
Votes |
5,028
Posts
Curt Davis
Agent
Pro Member
  • Flipper/Rehabber
  • Memphis, TN
Replied

Before you quit your day job make sure you have 1.5 times the cash flow coming in from your rental business before you walk away.  Are you financing your properties using 20% down bank financing?  If you are I would get as many loans as you can bc once you change careers it will be harder for you to get financing, possibly have to wait 2yrs to get another loan. 

Good luck

  • Curt Davis

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