How did you calculate that you could quit your job and invest full time? what was your position financially? I want to go full time 7 years after my first investment and really believe I will. I think people dumber than me have achieved more than that, so why can’t I?
do your first deal. then do the next one. all that other stuff will work itself out, trust me.
Thanks.
going fulltime depends on alot of things.
Look at this, if you were to stop investing, could you live off your current salary if you did not have to take care of all your rentals of rehabs and just your primary home and bills.
Are you making more money in REI then on your job?
Basically, if you can still secure loans, earn enough money to pay the bills, then your ready to go out on your own and say good bye to the other boss. However, many people do not want to put in the extra time to move to the next level so staying on your job is fine and keep REI as a hobby that pays well or is helping for retirement, college funds, nice trips, etc.
I still work 55-60hr work week making over 120K yr, and still manage to buy over 20 properties a yr. I do it part time, I do about 12-18rehabs a yr and contract it all, and have rentals and preconstruction homes.
I do not quit my job b/c i like the extra $$$$ from my job, even though REI pays me more than my job. even though its stressful and I deal with alot of BS, I still find alot of deals thru my job, so I sorta put them together. My job helped me the deals that got me where I am today in REI…
It becomes a choice…but if you can survive comfortably on REI alone, then go for it…