All Forum Posts by: Lori Jones

The $15,000 is just what I am willing to risk while unemployed. The remainder of my finances will be kept as off limits funds.

Thanks everyone. I think that you all are assuming that I'm not going to get a job? This isn't the case. I am just saying that the new job will remain a job (not a career,) and will not be my first priority when I get it. My real estate education will now have most of my focus. Getting a new job is a given. I am not one who can just not have some kind of income coming in. I've been selling products on ebay for some time, so I have some income coming in. I do have goals and steps to them. I have been a landlord for 2 year so my current goal is to start with small multifamily rentals while I learn about other aspects of real estate. I want to explore to see which niche I enjoy. I have long-term and short term goals. They are on hold because of this set back, and I believe that this post was probably frustration. If I keep pushing I know I will hit those goals.

I'm pretty new to the industry.  I didn't start out planning to become a landlord, it was just convenient due to a personal medical situation.

After everything cleared up I formulated a plan to jump in to the industry so that I could retire early. I'd planned to sell my current 4 bedroom rental property and purchase a duplex-fourplex for my first step.  I moved back home and saved some money so I would have a good down payment.  Soon as I was about to hit my goal I was laid off, argh! My current rental property pays for all of my exenses, but the cash flow is very small.  This is the 2nd time I've been laid off, and I am done with attempting to build a career in someone else's corpration.  

Now that my job is gone, I have to figure out a new plan.  What would you do in this industry if you lost your stream of regular income, but were sitting on $15,000? ($15,000 is not the total, but I'm a person who prefers to have a financial fission of 3-6months.)