Can you invest in real estate if you have a full-time job?
Yes.
And No.
And maybe.
Hold on - i’ll explain.
Hey guys, it’s brandon with BiggerPockets.com and one of the things that stop a lot of people
from investing in real estate is the problem of their J.O.B.
And for good reason - they take a lot of time and they kinda suck.
Wait did I just say that out loud?
Anyway - there are hundreds of ways to make money in real estate.
Flipping, renting, house hacking.
BRRRR Investing.
Crowdfunding.
Notes.
Apartments.
And on an on the list goes.
Some of these techniques or strategies might require forty hours a week, while others might
only require forty hours per decade.
The amount of time it takes to grow your real estate business largely depends on your investing
strategy, your personality, your skills, your knowledge and your timeline.
But with all real estate strategies - there will be some time commitment.
But what’s more important than the hours-in-a-chair is the consistency.
Let me explain.
But first- if you are enjoying this video, do me a favor and click the little “Thumbs
Up” button and Be sure to subscribe to our channel.
Ok - story time.
Remember the tale of the tortoise and the hare?
The hare continually sprinted through the race, while the tortoise took the slow-and-steady
approach.
While many investors have “sprinted” toward their investment goals, success is most-often
found by consistent action, not “big action.”
Consider two types of people who try to “lose weight.”
The first person sets a goal and heads to the gym for a three-hour run on the treadmill.
A few weeks later they go back to the gym and use the bench-press for a few hours.
Then a month later they go back and try the elliptical machine.
The second person, however, sets the goal and goes to the gym five-days per week, but
just works out for 30 minutes every single day, while also watching their calorie intake.
After three months… which person, would you assume, lost more weight?
As any personal trainer and they’ll tell you: the second person will win almost every
time.
Why?
Because consistency in action is far more important than sporadic big action.
So what does this have to do with investing in real estate while working full-time?
Simple: even if you can only spare a few minutes each day, but you are consistent with it,
you can invest in real estate.
Most real estate tasks don’t require hours and hours of work.
For example, analyzing a real estate deal might take ten minutes (especially if you
are using the BiggerPockets Property Analysis Tools at BiggerPockets.com/analysis.)
If you simply analyzed one deal per day, but did it consistently for three months, that’s
nearly 100 properties analyzed!
If you purchased just 1% of those properties, you could end up buying a deal every three
months!
So, yes, you can invest in real estate while working a full-time job.
In fact, it might even be beneficial.
First, by holding onto your day job, you do not need to live off any of the cash flow
or profits you make from your investments -- that's what your nine-to-five job is for!
By reinvesting all the profits from your investments, you can fully realize the incredible benefit
of exponential growth.
Additionally, you have a much easier ability to get long-term bank financing thanks to
the stable income from work, which can also help increase and stabilize your wealth building.
Real estate can be highly profitable as a career or if you're just investing while working
a "normal job."
However, the choice is yours as to which path you take.
Don’t simply decide to quit your job and become a full time investor because you read
about other investors who have been successful doing it that way.
You’ve probably heard the age-old high school guidance counselor question, "If you suddenly
had one million dollars and didn’t have to work anymore, what would you do?"
The answer, it’s said, is what career field you should be in.
Would you invest in real estate?
If your dream path would be to open up a shelter for abused animals or to move to Aruba and
train tourists to surf, you probably should not be a full time real estate investor, or
you should make sure that your investing lines up with that vision and can get you there.
And that's not to say that you shouldn't invest in real estate -- you just maybe shouldn't
go “full-time.”
You don’t need to make real estate your career in order to build wealth in real estate.
If you love your job, you don’t need to quit it to invest in real estate.
In fact, you can achieve the same or better results as a full-time real estate investor
by investing on the side.
That said, life is too short to be stuck in a job you hate.
Choose a career that makes you excited to wake up in the morning, energized throughout
the day, and content when you fall asleep at night.
If that desire leads you to full time real estate investing, welcome to the club!
Just make sure you are not simply building a career, but building a future.
So - can you invest in real estate if you have a full-time job?
Definitely.
But pick an investment strategy that fits your lifestyle and gets you to where you want
to get to in life.
For more help on picking a strategy that is right for you, be sure to check out BiggerPockets.com/UBG
to read The Ultimate Beginner’s Guide to Real Estate Investing - a totally free online
guide designed to help you become a real estate investor.
And of course, be sure to subscribe to our channel here for more great real estate investing
and wealth building videos.
For BiggerPockets.com, my name is Brandon…
Signing off.