RE Investing PART Time, FULL Time, NO Time??
Good evening everyone,
Just curious to hear from all of you investing how often do you guys actually close a deal. Hope this question is not too personal I was just curious.
Thanks,
aimee[ Edited by tGiREi on Date 03/22/2004 ]
Hey there!
It's Full Time for me. I'm still trying to get my LLC set up, phone line, etc set up.
[addsig]
Thanks for reply TY I guess the answer is OVER TIME investing for everyone else
aimee :-D
[ Edited by tGiREi on Date 03/27/2004 ]
I started 6 months ago and now have 4 properties and one to close in May. I'm trying for about 1 every 6 weeks (good deals only, of course). So far so good.
To follow up, I spend about 20 hours a month doing REI. Give or take.
I guess it's all about why you're getting into investing. See, I think the term "full-time" real estate investor is nutty. Sure, you can make this into a fulltime career, but why?
I make an average of $20K per property. If i buy and sell 5 a year, I've made $100K. Not many people can say they do that, and fewer still that can do that on 20 hrs or less a month.
I have a friend who buys 20-30 properties a year, has his own rehab crew on the payroll, and works his butt off every day, seven days a week. Does he make money money than I do? Heck yeah! But has very little personal time. To me, what he created was just another J-O-B, and that's the very reason I started investing, to get away from the J-O-B.
Me, I'm happy being the "small-time" investor with my measley $100K a year hobby. I truly marvel at these "full-time" investors for the drive and determination to make a buck while I'm out perfecting my golf swing.
Roger
Raj,
Nice way of putting it. I agree with you however, Full time for me means having enough to pay bills and still have time for my fam bam! Thanks everyone for sharing.
Best wishes,
aimee
I'm just getting started and I'm only 19. My whole purpose is to keep it as systemized as possible. Because the whole reason I want this is to have free time in my life to spend with my family and do my other hobbies.
I spend any where from 10-20 hours a month, and I have yet to close a deal. Im young and Im just gonna keep trying new things till I get it right.
I started about six months ago and now have 3 props.....Its partime for me right now.....I realy want to do it full time.....just waiting for my portfolio to get a little larger and also realy find my nitch in the business.