All Forum Posts by: Alex Pinard

@Alex Pinard: I went through that same decision making process. I chose real estate and have never looked back. I'd suggest starting off with training from someone who knows what they are doing. When I started out 30 years ago, there really wasn't anyone and I have the experience and bruises to show that if you can avoid being a "lone ranger" and trying to learn this stuff by reading and youtube, you are better off with a coach.

People down play that part, to their peril and loss. They won’t tell you how far ahead they’d be if they hadn’t had to spend the first year or two knocking their head against the rocks.

So, yes I’d make the change if that is what your heart says to do. And yes, I’d talk to people about getting training out of the gate. Your wife will appreciate that you aren’t stumbling around. There is much more, but Bigger Pockets requires that you initiate by clicking on someone’s name then “connecting”.

If you want to read your way to real estate investing, here is the book

Wow Ken, thanks for that reply. You sure seem like a wealth of knowledge with the hands on experience you have. I agree that finding someone like you local to my area would be quite important to success. I’ll start trying to find some real estate investment groups to link up with. Never know might make the connections I need.

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Quote from @Ko Kashiwagi:

Hi Alex,

Ultimately, your decision to quit your job depends on your risk tolerance - for some people completely quitting and jumping all into a business may be for the better. Since you have a good amount of reserves and a working wife, you could always get a similar job back if your first deal goes South. 200k and 6 months is more than enough to try out a cosmetic BRRRR. Alternatively, you can switch jobs to one that is less demanding.

Thanks Ko, do you think you could point me in the right direction of where to find foreclosure listings, short sales etc.. should I go ahead and just link up with a realtor now?

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Quote from @Carlos A.:

Hey Alex, hope you are doing well!

Although this might seem like a super exciting way to "get out" of your current situation, please understand that REI is a very competitive and difficult business. And this is a business. And like most businesses, people fail at it all the time. What happens if you make a mistake (which almost everyone new at this does) and you lose 50,100,200k??

When people are desperate, they are also the most vulernable. Dont go by what you watch on youtube or read crazy success stories online. Debt is real and bankruptcies happen all the time.

Why not make a career change first?? It is MUCH easier to invest in real estate with a w2 job

Thanks for the reply Carlos, a career change is totally possible for me but would likely involve about 1/3 to 1/2 the pay I’m getting now so I question is it even worth it or go all in on something I can actually make money at.

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I'm sure this is the same question asked a million times over, tear me a new one if you must. Long story short, I have a good career high pay for the area, lots of hours away from home and lots of stress. Completely burnt out. I've wanted out for a while and now with my newborn son, I look at him and know I can't do this anymore. Wife has a good job we can get by on her salary alone for at least 6 months to a year. We have access to around $200k if we go all in not including investors if we could find them. The plan I'm pondering is fix and flip and some BRRRR mixed in. Starting off I would be on the ground hustling doing a lot of the renovations myself and hopefully as it starts to take off contracting more out and dealing in more volume. I have extensive experience in home renovations and access to family members with even more experience. My dad could even be possibly be interested in partnering up on some deals. Is this idea as crazy as it sounds? Working my fulltime job and starting on the side isn't an option for us it absorbs 12-14 hours of my day everyday. The only way I can make this happen is jumping into it full throttle and scaling it to the moon. It has to be possible my son deserves a dad who's around to enjoy life with him and with an income to give him the life I never had. Have I lost my mind?

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All Forum Posts by: Alex Pinard

Alex Pinard has started 1 posts and replied 4 times.

Post: Sink or swim. About to dive in.

Post: Sink or swim. About to dive in.

Post: Sink or swim. About to dive in.

Post: Sink or swim. About to dive in.