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Its always the first-time that gets you hooked on anything. Wholesaling is like the first real ticket you cash betting the ponies. Or a first date with an attractive counterpart. Real Estate Investing for full-time investors, unfortunately, is much more like spending the day at the track with the hopes of finding a horse you may or may not bet, your eye on a gelding in the 8th that scratches, so you end up betting the favorite in the off-track pari-mutuel betting from Hollywood Park because you have to bet on something. Or, to compare it to exciting first dates - marriage. In any event, it is a job. You may love it more than your current job. Your boss may or may not be better, that depends on you. THE CHALLENGE OF FULL-TIME INVESTING Our parent's experience in going from gainfully employed corporate people to real estate entrepreneurs is far from typical. The founders of Houston Buyers had money saved, and families supportive of their endeavour. Families willing to wait nine months for enough deals to close to pay the bills. If you are a loan officer or real estate agent, then you are already used to working for yourself. Wholesaling is not much different than these professions. Remodeling, Retailing and Landlording are significantly different from agency or middling money:
Retailing: Your entire paycheck is based on the sale of a property, and the average time from beginning of the project to the end can be 6 months or longer. Landlording: You make a little bit every month. WHY SOME EXPERIENCED INVESTORS ARE ONLY PART-TIME REAL ESTATE INVESTORS Recently, HoustonRealNews spoke to several experienced investors who went back to work full-time. Here are a spattering thoughts from our survey:
2) A job is more fun when you don't need it 3) I can do MORE real estate with a job than without (obtaining financing is easier with employment) WHAT'S RIGHT FOR YOU We suggest taking it slowly, building some savings, gaining experience, while making money - ie keep your job. Once you get the hang of real estate investing, find your niche and see boundless opportunity, you will make the jump. Or, in short, if you need to ask the question part-time or full-time, then you have your answwer - keep your day job. If you have questions and would like more dedicated and one-on-one/small group education, we can set up live in-person or on-the-job learning sessions - upon request or at a regularly scheduled time. Related Articles -BASIC EDUCATION OVERVIEW - Basic Investing ARV - After Repair Value Birddogging Contract for Deed Dealing with Contractors Estimating Profits Evictions - A Primer Executory Contract Foreclosure Overview Foreclosure Types Overview Hard Money Loans - a/k/a Asset Based Lending* Lease Options Leverage MAO - Maximum Allowable Offer Multi-Family Investing Basics as Presented by David Lindahl on March 4, 2006 No-Money Down Real Estate Investing Options Part-Time v Full-time Passive Investing For Beginners Pre-Foreclosure Profit Calculation Remodeling for Beginners Rent vs Buy Is Really Rent vs Sell Seller Financing as Investor Buying Tool Skiptracing Subject To Wholesaling Return to Listing Return to Investor Education |
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