All I Want for Christmas...

[Alvin Russell Goodwin II]

...is to be able to support my family financially doing what I love = real estate.

With that said, here is my situation:

Laid off my job two weeks ago
Invested in myself  by completing a 6-mth real estate investing in-person course (Spring 2022)
Been studying REI for about two years now
$15K in reserves + good credit
1 long-term rental in GA (no mortgage + rented)
The thought of getting another W-2 makes me want to vomit
Very interested in wholesaling and buying more rentals
Have kids, wife, mortgage, etc.

QUESTION: Should I work for a local up and coming wholesale company (base pay+commission)  or wholesale independently? 

I've considered getting my real estate license however, the thought of showing people multiple houses and working on the weekend is not very attractive to me.

Just seeking your advice on what path to commit to achieve an active income involving real estate in 2023.

Thank you!

[Scott E.]

Wholesaling is not a good career path. It's a full time job, and very few people can consistently make good money at it. Not to mention the challenge in finding deals and finding buyers is amplified in this economy. If you were obsessed with the idea of wholesaling and you had $300k in the bank to support your family a while I'd say give it a shot. But you have $15k in the bank with no job. Sorry to be harsh but you are basically flat broke.

I recommend you choose something real estate related for your next career. Become a real estate agent, become a general contractor, work for a home builder, work for a title company, work for a lender, etc.

Then on the side you can wholesale deals, flip houses, acquire rentals. 5-10 years down the road, you will probably be ready to pursue real estate full time as an entrepreneur.