Trading In Your 9 To 5 To Invest In Real Estate
Even though the housing and job markets appear to be getting better, many workers are still being laid off and having trouble finding a place to work. As recently as December, a less than encouraging job report even forced mortgage rates to be lowered. At the very least, people do not have a heightened sense of job security. Thus, many are fearful of the future. For many, income will be reliant on their current situation. However, is what you are making now going to be able to sustain you in the future? Those that are less than confident should consider the prospects of investing in real estate. Trading in your 9 to 5 may be the best choice you ever make.
Unfortunately, even those who have decades of loyalty under their belt can experience a sense of redundancy. More importantly, however, are those that are unsatisfied with what they do for a living. It is particularly hard doing something day in and day out if you do not enjoy it. Sadly, this is going to hit hardest among those who don’t have applicable skills.
Many will be inspired to take their experience and launch a new freelance career, or even pursue a startup that involves their favorite hobby. Of course, in reality, this is a lot more difficult to pull off, especially with so many others doing it at the same time. Most won’t find a cookie cutter system for executing their idea. There will be few guarantees of income to keep up with all of the bills.
If you lose your job unexpectedly, you may find yourself scrambling to procure an income. Those without a reliable income may be left in a state of panic, willing to take anything that comes their way. You may find yourself in a perpetual state of fear, never knowing if you will be able to pay the next bill. This is not a situation that anyone wants to be in, but one that many have experienced first hand.
Fortunately, there are options. On the bright side, there really couldn’t be a better time to get laid off. The housing market is firing on all cylinders. Those with the right ambitions will find funding easy to come by, making investing a viable option.
There are numerous reasons to consider a career in real estate investing over a 9 to 5. Dusting off a resume and getting back in the game can be difficult for some, especially those that were set in their ways. Even if a job is landed, it could still be a month before you get your first paycheck. By that time, most are way behind.
In all honesty, real estate can take a while to pay out as well. However, there are a variety of real estate investing strategies to choose from, some of which could definitely pay off faster and bigger than looking for another job.
Wholesaling houses is an extremely popular exit strategy. This particular approach can result in a big payday in a relatively short period of time. It also doesn’t require as much experience as you may think. In fact, it is a popular strategy to start out with. For those with some savings or a reasonable severance package, fixing and flipping houses can be a great way to start generating an income right away.
There are other options too, each of which can be more enjoyable than a day job. Those who start investing in real estate are upset they didn’t make the transition sooner. Those contemplating their job security might find it a lot better to get started in real estate investing before getting laid off is even an option. Many people will question how to get started, and how they can better ensure their success. The answer is starting with a good real estate investing education course.
By Than Merrill