All Forum Posts by: Jacob Wilson

Hey Jacob!

Before you jump 2 feet into the Real Estate Investing world, I challenge you to find a balance of continuing your drive toward real estate while improving your position at your current role. Like you, I was frustrated with my first job out of college, wanted to get running out the gates as a full time investor, but found out quickly that dropping my W-2 at such a young age would be very detrimental to my finances. 

If you are not happy in your current role and/or company, there is no shame in pivoting your career into something that attracts you and positions you for long term growth. But, quitting your W-2 to become a full time investor without having any real estate assets will make it exponentially harder to get started. Lenders will be looking for stable income over an extended period of time, and you can actually use your 4 years of college in addition to your current job as qualification to your first mortgage. 

Before you consider transitioning out of your role to become a real estate investor, get your first property under your belt and you will know almost immediately if the demand and drive it takes consistently is the right place for you to put your focus more regularly. I see too often that aspiring investors think real estate will be a much more passive source of income than your job, but I can almost guarantee you that you will extremely active especially when starting out. 

I love where your head is at with becoming more active in this space, but do not let that activity drop your output at your current role. Figure out how you can grow into a role that satisfies you, continue your drive into making a name for yourself in the real estate space, and you will absolutely benefit from the fruits of your labor if you take consistent action over the long term.  

It's a great idea in theory, but to be honest with you, this statement - "Getting a bit tired of my current job (first out of college)" is a bit alarming. If you are working your first job and don't want to work the 9 to 5, your scale to have savings to invest is going to be very limited. Not many of liked our 9 to 5 before we left, but we did it for many, many years while also investing. Your cost of living sucks in NYC so that hurts as well.

You say you want financial freedom, but what you really want is time freedom and the only way to get time freedom is through earning money to give you that. Don't give up the base salary. Just consider it what you have to do to build a strong foundation when you hit your 30s.