Full time vs. Part time

[Professor 0]

Just wanted to know who here on the forum invests full time, who does it part time (with full time job?).

 

For those who do it full time, when did you start doing it full time and how successful are you at it (if you can put a number on success).

 

The reason for the questions are because I recently quit my job without yet having done a deal! Some may think that's risky, possibly scary, even plain stupid, but I see it this way - what other way to motivate yourself than knowing that your family won't eat if you don't work hard?

 

Appreciate your thoughts (and constructive criticisms)

 

 

--

Dang

[<Steve> 82]

Wow! Dang gutsy move.

 

I went part time on the JOB this year and went full time REI. The plan is to drop the JOB completely next year. It has been hard for me to break the brain wash of having a JOB. However, I am currently making double doing REI than I did full time on the job. Currently I am cranking out 4 to 5 deals per month using the various Naked Investor L/O techniques. I am about maxed with keeping the JOB, so a lot of deals I can't get to. Which is good looking forward.

 

It has not been an over night success however. I took a few bumps along the way until hooking up with the way MC does things and I can tell you it is awesome. It has deffinatly changed my...well...life. I will continue to get things in line to quit the job next year, although I probably could now.

 

To just quit the JOB and start REI is difficult, but you are in a great market to take that risk. If you go for it, know that if you need to pick up, say a part time job along the way while you are cranking up your REI business, you can.

 

Good Luck!

[MichaelC 160]

Professor, I would say that the majority of real estate investors start out part time since they need to work until things began happening. Like Steve wrote, the transition is usually a gradual one. However, everyone is different and some plunge in full time and are comfortable with that approach.

I started full time because I was fired from my job. World's worst salesman, I suppose.

[happyardy 0]

I went part time on the JOB this year and went full time REI. The plan is to drop the JOB completely next year. It has been hard for me to break the brain wash of having a JOB. However, I am currently making double doing REI than I did full time on the job. Currently I am cranking out 4 to 5 deals per month using the various Naked Investor L/O techniques.

 

Good Luck!

 

Hi Steve,

Thats preety amazing !

What marketing methods are pulling in most of your leads(that actually materialize)? Are you still calling on FSBO/FRBO ads or you just let your marketing bring leads to you these days?

thanks,

- Rahul

[<Steve> 82]

Hey Rahul-

What marketing methods are pulling in most of your leads (that actually materialize)? Are you still calling on FSBO/FRBO ads or you just let your marketing bring leads to you these days?

Mostly email marketing on FSBO sites and Craigslist. I also market my web site. A few bandit signs but not as much. Your typical nose to the grind stone marketing. Get a bunch of potential deals, send out short offers and snag a deal or two. I have the attitude that today’s marketing is a deal two to three months from now. Many are not willing now but some call back later. I try to keep my name out there so they can find me.

 

I have also been able to connect with a few "Senior Investors" I call them. Senior because they are some pretty smart business guys, older than I, that do other types of businesses and also rehab properties to flip. As things have worked out they want to just sale, but the way the lease options are set up with no typical landlord head aches they keep calling with another property. I just closed a CA with an investor this afternoon and have 2 new construction houses from another investor coming available in a week or two. Just waiting for the paint to dry.

 

This year I have also had some repeat CA's from tenant/buyers that ended up not buying and the seller calls back to do it again. It's kind of like a SLO with out the worry of a vacancy. But I always tell every seller there is no guarantee of a sale. I just place the best qualified tenant/buyer I can find in their properties. I think they appreciate the honesty and are motivated to get the property off their back knowing that their is a strong possibility the tenant/buyer will purhcase their house.

[happyardy 0]

Hey Rahul-

What marketing methods are pulling in most of your leads (that actually materialize)? Are you still calling on FSBO/FRBO ads or you just let your marketing bring leads to you these days?

Mostly email marketing on FSBO sites and Craigslist. I also market my web site. A few bandit signs but not as much. Your typical nose to the grind stone marketing. Get a bunch of potential deals, send out short offers and snag a deal or two. I have the attitude that today’s marketing is a deal two to three months from now. Many are not willing now but some call back later. I try to keep my name out there so they can find me.

 

I have also been able to connect with a few "Senior Investors" I call them. Senior because they are some pretty smart business guys, older than I, that do other types of businesses and also rehab properties to flip. As things have worked out they want to just sale, but the way the lease options are set up with no typical landlord head aches they keep calling with another property. I just closed a CA with an investor this afternoon and have 2 new construction houses from another investor coming available in a week or two. Just waiting for the paint to dry.

 

This year I have also had some repeat CA's from tenant/buyers that ended up not buying and the seller calls back to do it again. It's kind of like a SLO with out the worry of a vacancy. But I always tell every seller there is no guarantee of a sale. I just place the best qualified tenant/buyer I can find in their properties. I think they appreciate the honesty and are motivated to get the property off their back knowing that their is a strong possibility the tenant/buyer will purhcase their house.

 

Awesome, Steve ! Yeah, I have been somewhat keeping a track of your success through your postings here.

Truly inspiring, man !

- Rahul

[Professor 0]

Thanks for the input guys, really appreciate every piece of advice and suggestions you guys might have.

 

But I'm usually one to always see the silver lining in the clouds so if this REI thing doesn't work out... Doug and I are planning to become secret ninjas

[Doug Pretorius (ON) 9]

If all else fails we'll forge deeds and steal the houses, Dang

[Professor 0]

If all else fails we'll forge deeds and steal the houses, Dang

 

 

Exactly... ninja style! Then we'll L/O it back to them

[MichaelC 160]

If all else fails we'll forge deeds and steal the houses, Dang

 

 

Exactly... ninja style! Then we'll L/O it back to them

I like your business model!

[West Coast Girl 1]

Sorry, but I don't have any "constructive criticism" on why someone would quit a job to do this full-time WITHOUT doing a deal or two or three first!

 

There's a LOT more than just looking at the $$$$$$$$$$ and the amount of money you can make in this business.

 

However, in order to get to that point, you MUST realize that there's a LARGE amount of money (and time) that you must outlay in order to realize this.

 

Here's some basics that you'll need to outlay (which will take money to to that):

 

1. Courses. Don't think you can do this blindly WITHOUT some sort of professional guidance (even if you latch on to veterans here, it's NOT enough); and

 

2. Hours, and weeks and months (if not years) of honing your expertise (what are you going to survive on without money coming in to feed & shelter you?); and

 

3. Money to advertise (such as in Bandit signs); and

 

4. Money to pay for Direct Mail Outs; and

 

5. Money to pay for your Gas to go and see Sellers / Buyers; PLUS

 

6. Money to pay for all other aspects of this business! and

 

7. Money just to survive on!

 

You know, it never ceases to amaze me that people think that Real Estate is the way to Riches Instantly! Sad to say, but it takes a lot of hard, hard, hard work, determination, and a LOT of money and time BEFORE you even realize a small trickle of profit!

 

THIS IS NOT A GET RICH GAME especially OVERNITE!

 

You need to spend a lot of time and money on this business! And, even then, you still need to be an expert in knowing on how to play the game!

 

Dang, sorry to have to rained on your parade, but this is reality and I wish you luck! Really, I do!

 

Therefore, you may want to re-think your employment options, as you will need money in order to succeed and make money (or at least survive until you do)!

 

Jean

[BEV! 0]

Just wanted to know who here on the forum invests full time, who does it part time (with full time job?).

IMMA full timer for the past 3 or 4 yrs

 

For those who do it full time, when did you start doing it full time and how successful are you

I started full timer since day numero uno and have been and still are Very successful.. thank you!

 

The reason for the questions are because I recently quit my job without yet having done a deal!

Some may think that's risky, possibly scary,

Every success involves risks, the higher the risk, the bigger the success

 

 

BEV!

[Jonathan RexfordFL 8]

Status: Full Time

How Long: 40 years 3 months and 26 days two hours and 24 minutes

Reasons: I was born that way.

 

I have always worked for myself. Cutting grass, Landscaping, etc

 

Investing pays better.

[happyardy 0]

Status: Full Time

How Long: 40 years 3 months and 26 days two hours and 24 minutes

Reasons: I was born that way.

 

I have always worked for myself. Cutting grass, Landscaping, etc

 

Investing pays better.

 

Jonathan,

When did you get into real estate full time? What were the types of deals you did in your early days? How did you get your big break?

Anything, that you can & want to share. Success stories always help to fire us up here.

thanks

- Rahul

[Jonathan RexfordFL 8]

I guess I was born FULL TIME. My family was always in real estate. Type of deals were building homes, sub2 taking over NON QUAL FHA loans. How I got my break was I kept working.