hi there, im going thru a similar " phase" …tired of my job and taxachuestts, i work in a professional field, and my wife is a nurse, i have done real estate in the past, flipping and multi-unit rentals, i’ve unloaded everything i have right now with the exception of one house that is going on the market this week… it’s a 5 family i bought for 179 k …and im listing it for 579k …i bought a house in fla, and i am packing up and moving to start a new life…it’s scary and exciting leaving a job with insurance and benefits…but we both agree this is what we want to do…and now is the time… i plan on doing some real estate deals in sw florida…im going down there with about $300,000 in cash, and and not looking back…i also have a RE license in ma…so im not a stranger in the re business… good luck with your endeavors
Insurance is a job you can get anywhere. You have experience so if you needed I’m sure you can find one in your new area.
We have thought of selling everything and moving out of state (we are in so calif.) but really don’t know where we would go at this time.
Good luck to you and your wife.
Boy, I can relate to your story. Fortunately, I discovered my real passion late in life so I did not have the kids and did not have to worry so much about health insurance, etc.
But working for corporate america is so much like slavery that I found it hard to breathe and going to work everyday was getting harder and harder to deal with. I decided to get out… I realized that no matter how hard I worked, my retirement from working for someone else was poverty central for me. I had just enough time to get out of that rat race and build a real future for myself.
So I started by doing loans. I found out that in California you can generate loans under a loan broker without any kind of license. I think this is the best kept secret in America. Some of these loan agents make $250K a year.
You can make from $3,000 -$10,000 per loan originated. did I find instant success… NO! I started with a company that had a less than a stellar business plan and the whole processs folded like a cheap tent. I found another company that I could do loans with and things worked out great.
Then I went on to get my real estate license… got it on the first try> hurray! So then I decided to QUIT my job.
I will always remember the teller at the bank when I deposited my final check from my job… I was estatic and told her that I was going to be a real estate agent.
Her words were “that’s kind of an iffy thing isn’t it” and I thought, you know you’re right it is - but in my mind my plan was to use my real estate agent status to find good deals that would generate residual income, rent, etc. then I looked at her and said… working for someone else is iffy? If they like you , If they want to promote you, If they want to lay you off… your life is in someone else’s hands.
I continue to do loans to this day, I’m an affiliate for a real estate program on-line and I do real estate deals I buy foreclosures and resell them at a profit and I have never looked back.
I strive for multiple streams of income.
There were and are months that are not as lucrative as others but I keep a reserve and I get to do what I love. I have always been a maverick and free thinker which does not bode well in structured corporate america.
You and Your wife can do loans from home and generate that 100K that you are looking for for your fall back cash… I wish you all the success that you want in life and more. I send blessings to you and yours.
Talk about hitting the nail on the head! I’m in the exact same boat as you. I’m a car dealer and have been for 20yrs this year. 70-80 hour work weeks, missing sons ball games and people being lawsuit crazy have taken their toll on me. I had heard of REI before and know several people who have achieved great time and money so I knew this could be my way out of the rat race. I’m in the process of getting my first deal done and Im more excited about that than anything Ive done in years! Good Luck,
good luck to all, i’ll let you know about my first deal in sw fla !
Hey,
A big thumbs up for all of you who had the courage to take the first step to realizing your dreams and the eventual freedom they will bring you. Way to go.
:bigthumbup:
Peace,
Richard
Lal,
Here are a couple of books that you might really enjoy.
Missed Fortune by Doug Andrew
Millionaire Real Estate Agent by Gary Keller
Financial Peace by David Ramsey
Good Luck my friend 
Hey,
Lal, Gary Keller also wrote “The Millionaire Real Estate Investor” which I highly recommend for, not only “how-to”, but for motivation and the “why-to.”
Peace,
Richard
"Missed Fortune by Andrew is the “Investment” Bible we use for our mortgage marketing. His theories are ignored by a lot of investors because they can’t see the bigger picture. I love his book and read and reread it. I’ll go get the other one. Thanks
WOW…a fellow Dave Ramsey fan here on REIClub…He is the reason I am 100% debt free today…well him and me bustin my a$$ for 6 years …Thank you for the book recomendations …I will check them out
i like dave ramsey too.
i’ve been using his advice long before i ever heard of him but he’s good to listen to
on the way home sometimes.
I will be fortunate enough to meet David Ramsey next week at a Mortgage Seminar in California. I am really excited and I am glad everyone enjoys his book.
I will let you know if he has any life changing stories when I get back.
Speaking of life changing stories …mine made it on his web site
http://www.daveramsey.com/etc/cms/index.cfm?intContentID=3913
Luke
what a great story… enjoyed reading about your success. thanks for sharing
Wow, great post! Can’t believe how similar my situation is to you guys. I won’t go over the details, but I’ll just say that my goal is to leave my job by the end of the year to work for myself and control my own destiny. Love real estate and working on my house. So I decided to pursue that direction in life. I started this last monday as a loan officer in training at a little mortgage company down the street. They were willing to let me start P/T and come in after my full time job every day. This was great because I didn’t quite want to quit my job without a supplemental source of income.
As luck would have it, I met a guy there who has experience in REI and we are already talking about doing some partnership deals. I’m just praying that this will work out and I’ll be well on my way to working for myself.