Full Time Or Part Time?
just wondering if most of you do rehabs full time or just part time for extra cash? I live in washington and am just finishing up my first rehab project where I am getting about 35k split between me and my partner after all expenses. Full time in this business is becoming much more tempting.
Warning: I'm EXTREMELY OPINIONATED..
That's a STUPID FRIGGIN QUESTION!!
Your kidding right??
The awnser BUBBA is a question:
DO YOU MAKE MORE MONEY DOING THAT OR AT WHATEVER OTHER WORK YOU DO?
It's simple, work doing whatever makes you MORE money!!
And gee, I thought that was common sense.. Good luck in life, you'll need it..
Chris
I spend part time hours but make full time income with two-three rehabs going at one time.
Property flow is KING with rehabs!
[addsig]
Sorry CKY...
REI isn't always about the money. Perhaps, the money will let me do the other things in life I really enjoy.
At some point in life, (at least for me) the money became a secondary issue.
I want things that bring joy into my life. REI affords me those opportunities.
I have chased the almighty dollar and I have to say that I am much happier now. The by-product is that I actually make more now than when I worked at other things that I did "just for the money".
Not to say that you are wrong, just another point of view.
Do what you love and love what you do and the money will come to you. I have worked for others and did not like it much. I was still in construction and remodeling so it was OK. Doing deals on my own without partners has been great. I went broke a few years ago because of other problems including buying a day care. I wish I would have stayed in REI and never seen that stupid day care. Do what you love. I am getting back my drive and motivation and the sky is the limit. If I get partners I will be in control this time and be able to do a lot more deals. I will soon have investors calling me wanting a piece of the action.
Good LUCK and Thank You
Hope this helps some
Ted Jr
CKY...a bit harsh on the freshman, don't ya think? (That was funny tho...he, he, he)
Hello,
Yes, fulltime can be quite alluring.
We're at just about fulltime right now. My wife is in VA, managing the properties and rehabs that we have going while I'm still in Wisconsin -I've given notice, and I leave my job and move to VA June 30th. Till then, I fly back and forth every six weeks.
What we did was to buy income properties first so that we had an income. Next, we got into rehabs to have larger sums of money coming in. Now we've set ourselves up fairly well; the last point we must cover is health insurance which we'll get via a COBRA.
So, she's fulltime, I'm partime, but we're making fulltime money.
You're doing well. Keep up the good work, and don't make decisions running.
Thanks,
OnTheWater
It depends on your goals and mindset. If working in unheated junk properties for days,weeks and months is your bag, then go for it
I think there's easier and more fulfilling ways of doing real estate.. But then, I've been there and done that. Now I recognize that I'm just a snob!