All Forum Posts by: Conway Churaman

@Conway Churaman

FHA loans are for owner occupants only. So you would need to live in the unit for 1 year to qualify for the loan. How will they know? They will run Lexis Nexus searches on you to see where your car is registered, what address your utilities are on in, where your mail goes, ect. Not living in the unit is Mortgage fraud and can carry some hefty fines

@Conway Churaman  If you think getting into real estate is all sunshine and roses, think again. This business has a huge amount of stress built in. If you can't stand your job for some reason, find another job, possibly real estate or construction related. Another question I have, if you have been so miserable for so long, why haven't you done something to get out of the situation such as taking classes to get a promotion or find a better paying position, etc. ?  Blaming others for your situation may make you feel better, but it doesn't solve anything. Take responsibility for your life, and your circumstances. 

Real estate requires being a self starter, tenacity, strategy, long days, high pressure, and personal sacrifice! It's not for the faint of heart, or those that are easily offended. So, before you jump ship, sit down, come up with a strategy to get to where you are going that is built on reality, not wishful thinking. Then implement your plan. Don't do things based on emotion, that's not how business is done. 

Having just left a job last year with $30k in savings to move back to the USA I know how fast it disappears. You have some money, but not enough to buy real estate and you're quitting the only thing that qualifies you to get that real estate. You have very little REI knowledge. As you said, you are "...reading the BP beginner's guide (not finished yet) for a few months now." A FEW MONTHS? If that is the pace of your passion then you are in for a very painful learning experience. Not that it is a bad thing. People tend to remember the painful lessons better than the easy ones.

I see a lot of good advice here, but then I see you saying, "Yes, but that's not what I WANT you to say."

Best of luck with your decision. All options are good if you play your cards right. Remember that the only one that mandates how you feel is you.

Yes a few months.  I can't study RE while I'm working on budget reports all night.  I can't study RE while I'm holding my head shell shocked from the screaming.  I should have finished all of the BP books by now and more but I havent.

Conway

I am new at this myself I know the feelings of excitment and fear. you can make it anywhere in any market but you must first learn the local game. 

The first thing you will need is stability to lay your foundation. You have 30k saved sounds like a great start, a good down payment with a little left over for a lipstick rehab in a cheap market. You will need a job real income stable income to acquire your loan for your triplex. 

My advice keep the job sit down Monday night and calculate your imediate financial needs. Keep the job so your can get your loans for property. Take an RE course so you feel like your doing something for yourself to make you happy and gradually move away from the undesired job. 

You can make it but you need a calm couple of months of planning before you burn the boats. 

I work three jobs myself I am a paramedic I am a firefighter and I am a contractor. Remodeling bathrooms for local flippers. I work 100 hours a week and save everything I can.  Someday I will only be working for myself but the time has not come to burn my boats. Every plan takes time. 

Glad you have reached your "I've had it" moment @Conway Churaman !  That's when real change happens!  Most people don't and spend a life of mediocrity. 

However, like @Mark Crusepoints out, we need to be running towards something concrete, not just away from something that sucks.  Don't jump off the boat you're on before you are closer to the dock.

When I am belittled by a superior, it helps to know that we all do the best we can for what we are thinking and feeling at the time. Is that the best your boss can do? Laughable. No better way to vent their little tantrums, no leadership skills, just a Barney Fife of his little temp gig? Sad, really. Put up with it as long as you can while you say "I've had it!" and dig into REI or whatever you choose to do with your life with gusto! Start a new chapter wisely.

@Conway Churaman Some good advice from others here. It is unanimous, don't quit your job.

I will be very honest, if you quit a job because you were having disagreements with your boss or co-workers that were not actually criminal offences, I would not hire you, and neither would any hiring manager I know. This is the equivalent of an eviction for a renter.

Verbal abuse sucks. But how you react to it is what either lets you excel or makes you crumble.

On the bright side, you've been doing this for 11 years, and you must have become an expert at what you do. I am sure your company has competitors, and that you have contacts into those companies. So, should not be that hard to land yourself a new job.

REI is not easy. Especially in this super hot market. With $30K in the bank and no W2, your options to get going in REI are going to be extremely limited.