Zx2guy19 Posted April 30, 2018 Report Share Posted April 30, 2018 Almost exactly 2 years ago, I made this thread: http://www.columbusracing.com/forums/showthread.php?t=125045&highlight=forum+pave Fast forward 23 months, I still hate the corporate world. My career and salary have grown, I have a role now where I should be happy, making excellent money, get to travel, full benefits, etc. But I still feel like a caged up animal. The last 2-3 months I have thought about leaving my job almost every day, to the point where it's like consuming my daily life/personal life/ all my thoughts. When I made that thread, I think I had 6 rentals that grossed about half of what I do now with 11 rentals. I am now to the point where I gross a little more per year doing rentals than I do my corporate job- each is slightly above 6 figures (just to give context, not trying to brag or be a douche). If I leave my job, obviously, I'll cut my salary almost completely in half. I'll go from a consistent, every 2 week paycheck, to monthly pay dependent on my tenants and them paying. But unlike last time where I wanted to do an apartment complex or buy a daycare, I am planningto be a full time real estate agent. I am born and raised in Columbus and have connections all over the city, and I don't need to make 200k a year to be successful as a REA. I can life off my rentals (After all bills are paid, I'll still bring home an extra $2500 a month from my rentals) until I get consistent in real estate. I am going to sell my BMW and truck and get an A3 and a POS truck for my rentals. Essentially, anything I make on real estate is "icing" on top of my $2500 extra a month, and I feel like I'll be so much happier. Tell me why I'm crazy and why I should go back into my corporate cave for 2 more years. *things I have not really found a solution for: Insurance...not married so I'd be on my own for this. Anyone have suggestions? **flame suit on...move the Kitchen if needed. Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted April 30, 2018 Author Report Share Posted April 30, 2018 Also: I had a really shitty conversation on 4/19/18, so I committed myself to make this happen within 1 year, so I marked 4/19/19 as "my last day with (insert my company)", but now I'd like to make it happen in the next 90 days. Not sure if it will, but that's my goal. Quote Link to comment Share on other sites More sharing options...
bdhill Posted April 30, 2018 Report Share Posted April 30, 2018 as you don't need the income, it should be fine. Their is very little inventory in the Columbus market, presently. No homes to buy. I would go with with HER for a year or two for the training, you can branch off later. I stopped selling and went to a corporate RE job for a 401k, insurance, and stock options... Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted April 30, 2018 Author Report Share Posted April 30, 2018 Bruce, I was hoping you'd chime in but I couldn't remember your SN on here. Shoot me a PM with your number if you can. I'd like to chat. Quote Link to comment Share on other sites More sharing options...
CRed05 Posted April 30, 2018 Report Share Posted April 30, 2018 I've chosen happiness over money before. Wasn't quite half, but maybe 1/4 less. I still think about it sometimes that it would have been nice having that extra income, but I'm much happier now. Quote Link to comment Share on other sites More sharing options...
2 Sweet Posted April 30, 2018 Report Share Posted April 30, 2018 Not crazy at all IMO. I mean money is great, but it doesn't matter how much money you make if you hate your job. Give it a shot. I think you'll be great at it Quote Link to comment Share on other sites More sharing options...
Orion Posted April 30, 2018 Report Share Posted April 30, 2018 Left my job in Texas to come home and make about 40% less. I'm all for getting as much money as you can (ethically), but you have to do what makes you happy. Quote Link to comment Share on other sites More sharing options...
wagner Posted April 30, 2018 Report Share Posted April 30, 2018 I left the corporate world to do what I love, it's scary as hell. What I was doing was dry, soul sucking, full of dumb corporate people, but it was steady and insurance was affordable. I could be making more money in corporate world, but I get to do cool race car stuff now to pay my mortgage and that's okay. You know how miserable I was and trying to find a new gig, you really can't buy happiness in work. If you can keep your bills paid do what makes you happy. Quote Link to comment Share on other sites More sharing options...
Geeto67 Posted April 30, 2018 Report Share Posted April 30, 2018 If you can live on $2500 a month ($30K a year) you can quit now. Just know that you won't grow anything for a long while and to do so you'll need another source of income. If you are miserable, why not change companies? Not every environment is the same, you might find another work environment that is much better than what is going on now. Maybe something with flex hours, or more vacation time for less pay. Health Insurance is going to be a big hurdle for you. It's almost worth it to stay just for that alone if you have a good package. I would not go be a real estate agent. Not residential anyway. The current market is entirely too saturated with people, there is too little inventory, and it's very competitive. Maybe look at commercial, I don't think the market is in as bad a shape. Plenty of shops here in town have need of a commercial broker. Maybe look at becoming a Real Estate Appraiser. Quote Link to comment Share on other sites More sharing options...
Miller Posted April 30, 2018 Report Share Posted April 30, 2018 Oh this is gonna be gud. *smacks lips* Quote Link to comment Share on other sites More sharing options...
Miller Posted April 30, 2018 Report Share Posted April 30, 2018 Gonna circle back after I've got some wings and beer-mixed brown-brown ready. Quote Link to comment Share on other sites More sharing options...
Lauren Posted April 30, 2018 Report Share Posted April 30, 2018 Op have you thought about opening a kids daycare. I hear they are good investments Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted April 30, 2018 Report Share Posted April 30, 2018 Almost exactly 2 years ago, I made this thread: http://www.columbusracing.com/forums/showthread.php?t=125045&highlight=forum+pave Fast forward 23 months, I still hate the corporate world. My career and salary have grown, I have a role now where I should be happy, making excellent money, get to travel, full benefits, etc. But I still feel like a caged up animal. The last 2-3 months I have thought about leaving my job almost every day, to the point where it's like consuming my daily life/personal life/ all my thoughts. When I made that thread, I think I had 6 rentals that grossed about half of what I do now with 11 rentals. I am now to the point where I gross a little more per year doing rentals than I do my corporate job- each is slightly above 6 figures (just to give context, not trying to brag or be a douche). If I leave my job, obviously, I'll cut my salary almost completely in half. I'll go from a consistent, every 2 week paycheck, to monthly pay dependent on my tenants and them paying. But unlike last time where I wanted to do an apartment complex or buy a daycare, I am planningto be a full time real estate agent. I am born and raised in Columbus and have connections all over the city, and I don't need to make 200k a year to be successful as a REA. I can life off my rentals (After all bills are paid, I'll still bring home an extra $2500 a month from my rentals) until I get consistent in real estate. I am going to sell my BMW and truck and get an A3 and a POS truck for my rentals. Essentially, anything I make on real estate is "icing" on top of my $2500 extra a month, and I feel like I'll be so much happier. Tell me why I'm crazy and why I should go back into my corporate cave for 2 more years. *things I have not really found a solution for: Insurance...not married so I'd be on my own for this. Anyone have suggestions? **flame suit on...move the Kitchen if needed. Going to seriously hurt your ability to continue financing new properties and growing your portfolio. -Marc Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted April 30, 2018 Author Report Share Posted April 30, 2018 If you can live on $2500 a month ($30K a year) you can quit now. Just know that you won't grow anything for a long while and to do so you'll need another source of income. If you are miserable, why not change companies? Not every environment is the same, you might find another work environment that is much better than what is going on now. Maybe something with flex hours, or more vacation time for less pay. Health Insurance is going to be a big hurdle for you. It's almost worth it to stay just for that alone if you have a good package. I would not go be a real estate agent. Not residential anyway. The current market is entirely too saturated with people, there is too little inventory, and it's very competitive. Maybe look at commercial, I don't think the market is in as bad a shape. Plenty of shops here in town have need of a commercial broker. Maybe look at becoming a Real Estate Appraiser. Just to clarify, that $2500 a month is AFTER I pay all my bills. Also, I'll probably make 75k or so on this house I'm flipping, so that'll allow me to get another rental or pay off even more of my debt (luckily, outside of mortgages, I don't have any). I have looked at joining a successful RE team, one of my friends sells 300+ houses a year and needs a buyers agent. I'll do my own thing with my own people, but would have leads come through her team. My other friend is a real estate agent and pays $600 a month for his wife and 2 year old son. I think I can get it for $300 or so a month, and the girl I've been dating is a teacher with great insurance- if we get married (2+ years out), I'd have it through her. Shit I can do COBRA for 18 months at $500 a month through my company. I left the corporate world to do what I love, it's scary as hell. What I was doing was dry, soul sucking, full of dumb corporate people, but it was steady and insurance was affordable. I could be making more money in corporate world, but I get to do cool race car stuff now to pay my mortgage and that's okay. You know how miserable I was and trying to find a new gig, you really can't buy happiness in work. If you can keep your bills paid do what makes you happy. Thanks man- I go back to a lot of our conversations when I was coaching you through your tough time. Everything I said to you, I'm doing the exact opposite of right now. And that needs to change. Gonna circle back after I've got some wings and beer-mixed brown-brown ready. Dude I honestly can't wait...I smiled when I read your post LOL Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted April 30, 2018 Author Report Share Posted April 30, 2018 Op have you thought about opening a kids daycare. I hear they are good investments Lol gud 1 Going to seriously hurt your ability to continue financing new properties and growing your portfolio. -Marc Lol that's why I texted you today about financing a shit load more properties before I make this stuff happen :gabe: Quote Link to comment Share on other sites More sharing options...
Miller Posted April 30, 2018 Report Share Posted April 30, 2018 Dude I honestly can't wait...I smiled when I read your post LOL I'm actually just peacockin. The war is over. You've completed your training and earned commendation young squire. Pursuit of happiness on. Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted April 30, 2018 Author Report Share Posted April 30, 2018 I'm actually just peacockin. The war is over. You've completed your training and earned commendation young squire. Pursuit of happiness on. Ha, thanks man. I just looked up insurance for myself...with Dental it's like $125 a month. Am I missing something? Seems awfully cheap. Quote Link to comment Share on other sites More sharing options...
zeitgeist57 Posted April 30, 2018 Report Share Posted April 30, 2018 went to a corporate RE job for a 401k, insurance, and stock options... This. If you have kids/wife...corporate is a huge help. Quote Link to comment Share on other sites More sharing options...
Zx2guy19 Posted April 30, 2018 Author Report Share Posted April 30, 2018 This. If you have kids/wife...corporate is a huge help. I don't do 401k- my rentals are just that. They're my forever retirement plan. I do plan to have kids some day, but I'm hoping the wife has insurance. If not, my friend pays for a plan that's $716 a month for his family. Hell, I pay like $300 through my company now for just me. Quote Link to comment Share on other sites More sharing options...
zeitgeist57 Posted April 30, 2018 Report Share Posted April 30, 2018 I'm not going to tell you anecdotal evidence to beat your anecdotal evidence...sounds like you're in a shitty corporate position. As I get older, health and happiness are definitely two of the most important things to have in this life; sounds like you're already one foot out the door mentally. I will agree with Marc's comment in that I have 5 rentals (2 being seasonal/vacation homes that I should really just classify as "investment properties" as they are expenses most of the year:lol:) and if I could afford more I would've bought them already. If you want to bankroll other properties you'll want to find a lender that can portfolio your current R/E-based assets (LTV) and leverage that for additional capital to buy/rehab more properties. I know a few UA guys that have become R/E agents within the last 1-2 years...one of them is totally fake-it-til-he-makes-it but his wifey has a solid corporate gig. Good luck. The market is robust but this smells like Florida 2007 all over again to me. Glad you have rentals to fall back on. Quote Link to comment Share on other sites More sharing options...
coltboostin Posted April 30, 2018 Report Share Posted April 30, 2018 Going to seriously hurt your ability to continue financing new properties and growing your portfolio. -Marc Not if you have portfolio lending options. Do it, especially considering the upside and "unlimited ceiling" of real estate. You already have your foot int he door, may as well be knee deep. I do mortgage financing for several investors that have made similar jumps- not one of them regrets it. One now has a portfolio of over 200 properties and is 34 yrs old. 100% self made. Another started a management company. Got to about 800 properties under his care, THEN got his license. I helped him market to his tenants to make sure anyone making the jump to being an owner went though him (he was previously missing most of this business). Not we see 2-3 closed units each and every month JUST off what he services. Its genius. Quote Link to comment Share on other sites More sharing options...
cdk 4219 Posted April 30, 2018 Report Share Posted April 30, 2018 Health Insurance is going to be a big hurdle for you. It's almost worth it to stay just for that alone if you have a good package. Wait, I heard Obama say that health care was going to cost as much as my monthly cell phone bill? Why would he need to figure that in? Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted April 30, 2018 Report Share Posted April 30, 2018 Not if you have portfolio lending options. Portfolio lending?! What is this magical lending unicorn you speak of? Please tell me more about what a broker/mortgage bank can do with their stellar NOO products/rates/costs?! The OP is well versed in portfolio lending and has taken advantage of it more than once... -Marc Quote Link to comment Share on other sites More sharing options...
jerrodh Posted April 30, 2018 Report Share Posted April 30, 2018 Obama's gone bro Quote Link to comment Share on other sites More sharing options...
Geeesammy Posted May 1, 2018 Report Share Posted May 1, 2018 In a similar spot minus rentals, the corporate world can absolutely blows a fat cock and destroys all motivation and joy. I'm more than ready to leave policymax. Quote Link to comment Share on other sites More sharing options...
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