Full time investors
How many of you are full time real estate investors?
Full time meaning real estate investing is your only source of income. I am curious if I could make a decent living real estate investing only. Looking at 50k-60k annually.
Jay Compton Registered User
Posts: 101
(3/9/04 10:41 pm)
Full time...Yep..
I'm a full-time real estate investor. Investing is my only source of income. And you can make a decent living in real estate...Although, I promise you, you'll enjoy it a lot more if you make more than a decent living.
Keep in mind what real estate has the potential to do for you. If you work a job everyday and get paid for that work you do everyday, that's great. If you decide, however, you want to not work for, let's say, all of November and December...Well, you probably won't make any money. That's where investing wisely with real estate can make that difference, and I know there are several people in this club that can agree with me on this.
A good rule to go by, don't quit your day job til you make more with your side job.
Jay C.
allsurface Registered User
Posts: 3
(3/11/04 4:57 am)
full time
If you don't mine me asking. I am just starting out and I know that everyone is different but what would you estimate as time involved before someone starts making decent money and can go full time. If I apply myself and get out and make offers would you estimate months or years. All I'm asking is your best guess realizing that it would only be a guess.
Thank you for any assistance.
Jay Compton Registered User
Posts: 102
(3/12/04 2:25 pm)
Best guess
I would have to say the first few months might be discouraging. I think a more realistic look at investing would have to encompass several years...Probably 3-4 years...I have heard the hype before and I've even read a few books on it...But I can promise you, you will be hard pressed to find one investor in this club that will tell you you'll get rich overnight in real estate. I know of one person that can say that...He put a deal together, when he had no money...And basically just put the seller with the buyer...And he made almost $500k for just brokering the deal...And that, if used correctly is a small life-changing amount of money to make at one time...But how often does that happen???? Hasn't happened to me yet.
I guess to answer your question, I would have to know your view of "decent money"...If you want to make $50k a year, I think it's completely possible in your second year...And depending on if you hit the right deals, you might can make it your first year...But like you said, you've got to work consistent at it and make offers...Don't feel like you're offending someone when you make them an offer...And don't take offense when someone makes you an offer to purchase a house you might have......And the biggest thing.....If you have any questions, ask someone....This club has some very impressive investors...And if you have any doubt in your mind on a move you're about to make....Ask someone...
And other than that....Just buy low and sell high...
Jay Compton
Realty Investments, Inc.
allsurface Registered User
Posts: 4
(3/13/04 4:41 am)
thank you
Sounds good. At least it can be done with enough work.
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