All Forum Posts by: Alvin Russell Goodwin II

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.

Hey @Alvin Russell Goodwin II - I left my W2 earlier this year and was in a similar position as you. I wouldn't be too averse to getting a real estate license as I did, because it helped me start intentionally networking with others in the real estate space (not just other realtors, but investors, brokers, lenders, etc.) as it just became easier to move around in their circles. 

Don't write it off just yet! Best of luck and wish you success. 

@Alvin Russell Goodwin II I love the energy but having a 9-5 with health insurance bla, bla, bla is really helpful. It's a cushion from the ups and downs of REI. Based on your profile picture neither one of us have experienced a DOWN market. A couple cash-flowing rentals is not enough to support a family.

If I were in your shoes I'd be looking for a job. Anything that pays equal or better than what you did before. If it's real estate related that's a win-win. It doesn't matter. You can learn, grow, and buy more real estate as the side hustle. That's the grind most people are not willing to endure. You can find/buy/create opportunities on your own time. 

How much equity do you have in the Georgia house? Are you managing from long distance? If it's just one property I'd probably sell it in the spring (if possible) and make Louisville your home base. If that's where you live it's a good mid west market. Lots of neighborhoods with potential from my experience visiting the city. 

Do you have enough money to live on for two years ? Wholesaling will take that long to make a profit and the market is tough. 

You need a profitable side gig or job. Work for a construction company that does houses and learn the bones, assistant to the best realtor in your area, some piece of real estate that you deeply learn while doing your wholesaling plan

Are you sure Wholesaling will feed and house you and your family?

Have you ever thought about buying a farm and becoming a farmer?

Sitting up there in the tractor during planting and harvest season listening to music and steering between the crops.

A couple of hundred acres under the plow, deer and pheasants dashing around your fields.

Maybe grow peas, or corn, whatever.

Have a personal garden for your families food, eat outside on the pic-nick table in the summer.

USDA does farm loans.

Another Non-W2 I have seen people do is owning a package delivery route and delivery truck. 

Out in the fresh air all day--Big Gulp soda by your side, working alone to make your money--no one to bother you except the traffic.

https://www.youtube.com/watch?v=DrbPAt1_vc4

https://www.youtube.com/watch?v=UUVv-OaQAOo

https://www.truity.com/test/career-personality-profiler-test

Good Luck!