Quit Your Job for Real Estate?

 

quit_job_for_real_estateShould you quit your job to be a full time real estate investor? For so many budding creative real estate entrepreneurs, the thought of leaving their J-O-B to commit full time to real estate is a very liberating dream. And it is made all the more tempting every time you have a bad day at work. But when is the best time to make the leap to full time real estate investor? Find out the facts on this very important topic BEFORE you quit your day job!

 

 

I get not this question, but this topic as a question of sorts all the time. Typically, it sounds something along the lines of the person doesn’t want to go back to a job, they want to be a real estate investor full-time, and they’re fully committed. I often times hear phrases like, “I have to succeed. It has to happen. I have no other choice. I have to make this work.” They literally have no money coming in. They might even be moving in with family so they can keep a roof over their head, and I know what that’s like.

 

My Story

 

After I graduated from college, I got a job, but I didn’t like having a job, and so I was young. I guess at the time, I felt like I was invincible, so what I did was quit my job to be in real estate full-time. I didn’t know what I was doing, and it became a very painful experience once the real world kicked in, and I realized what my parents were trying to tell me which was, “Phil, keep your day job and do real estate on the side.” They were right, and if they’re reading this, mom, dad, you were right. I was wrong, but I didn’t know why you were right.

Being the way I was, stubborn, I just said, “Well, let me give this a shot,” because I didn’t have a detailed explanation. They were trying to explain it to me and other friends tried to as well, but I guess  I wasn’t listening, and so hopefully, if you’re reading this, you’re listening carefully. I have been on both sides of this. I know what it looks like, so listen carefully.

 

Having a Job is a Wonderful Thing

 

Let’s talk about why having a job is a wonderful thing. First of all, having a job means you have money coming in. This is a very important part of our society, very important part of life. Now, a lot of people don’t like their jobs. For the most part, people will track other things like becoming a creative real estate investor so they can quit their job, and I understand that.

I get that, but before you reach your level of success whereby you’re making more money as a creative real estate investor than you would as an employee of where you’re working, you need to have that money come in because here’s what that money coming in does for you. It creates patience.

 

Patience

 

Now, patience is certainly a double-edged sword. If you’re too patient, you get nothing done, but in real estate, you have to be patient. Deals don’t close right away. They can take up to 30, 60, 90 days sometimes. If you’re flat-broke, and this is really critical, if you can’t even put food on the table, and you have a real estate deal that’s about to close, and it’s getting shaky, and things are going wrong, which does happen in real estate, if you don’t have the patience to withstand those ups and downs, you will give away tons of profit just to get a deal closed.

It’s exactly what will happen, so the agent for the buyer will request some fix-up to be done on the house, and as opposed to negotiating, you’re so scared you’re not going to make any money, you just give away the form. It happened to me a lot when I was basically getting out of the homeless world was I had to just give away tons of profits because I had no other choice. Bad place to be. Terrible negotiation position. If you’re in a position where the money has to come in or you will feed yourself, it’s a terrible negotiating position to be in, so it creates patience.

 

It Creates a Level of Sustainability, and Sustainability.

 

This is a big one in business. So often, the biggest mistake people have in business is they give up. If you can have the sustainability, stick to it. I have a coach that uses the phrase “staying power,” so that’s another way to describe it. It would be “staying power.” You can stick around long enough for all your labor to be fruitful.

Now, that brings in this little detail. Perhaps, you have been inspired by the founder of Facebook, the founder of Groupon, and other businesses that seem to have had meteoric rising-to-the-top kind of stories. Real estate and most business is not like that. In fact, I think those examples of business are poison to most people because they give a false sense of reality.

Business takes a while to get it going right, especially if you want to build it for the long haul, so you have to have sustainability, staying power, patience, and that’s what a job gives you. If you have a job right now, be thankful you have it.

 

“Pick it up. Put it down.”

 

Okay. What’s this mean? When you’re an employee, you get to go to your job, do your job, and leave. Now, yes, you got to put up with probably a really obnoxious boss, maybe an ignorant set of executives that run the company incredibly lousy, and you may hate everything about your job, but you get to leave it at the end of the day in most cases, and that’s the benefit of a job.

See, when you’re the owner, now you have to worry about the jobs of everybody else. You have to worry about the business. You have to worry about what’s going to happen tomorrow. Now, if you’re an employee, you want to worry about the sustainability of the company, but you don’t necessarily have a direct power to change that. As the owner, you have a different set of responsibilities. You have all sorts of things you’ve got to deal with that you don’t have to deal with when you’re an employee.

 

 

Example

 

I am now the boss of a lot of people. Some people will be like, “Wow, you’re so lucky of all these people that you’re around all day.” Lucky? I got responsibility. I got to make sure they’re constantly busy. I got to make sure that the business is always successful so they’ve always got stuff to do. I have to constantly be on the cutting edge of innovation and being able to make sure that the business is rolling smoothly so all those people are taken care of.

Being a boss is a huge responsibility. One of the pros you have in a job is … I’m not saying you have no responsibility, but you have less responsibility because you don’t have a whole bunch of people that you’re having to feed every day necessarily. Again, there are definitely caveats to this. I’ve met people with jobs who have all the … They have none of the pros and all of the cons, right? For the most part, that’s a wonderful difference.

 

Why Does That Matter to You in Real Estate Investing?

 

It makes all the difference in the world because what it means for you is this. You can do real estate part-time. You absolutely can. Real estate is wonderful, especially residential, not commercial, but residential because typically, the sellers of homes, they are at home and available for the phone calls in the evening times when you’re home from work.

Also, the buyers usually look at properties on the weekends. Typically, when somebody with a normal job would be available. In other words, the beauty is that which is a benefit on the side of having a job which is you get to pick it up and put it down. When you put down your job, you have the time, and it’s actually a good time of day or good time of the week to actually pick this thing up which is real estate investing.

The beauty of having a job is that you got your money coming in which gives you all sorts of power, patience, sustainability, staying power, and that then allows you to pick up real estate at the times that are not only going to not compete with your job, but are actually going to be beneficial for real estate investing, and so you can do this slowly over time, and that means you can also educate yourself wisely.

 

Fight or Flight Mode

 

The other thing is when you put yourself in a position where you absolutely have to close a deal or the whole entire world is going to fall apart, you put yourself in a position where you don’t even allow yourself to think straight and clearly because you’re in such a … Psychologists would call it a “fight-or-flight mode” and that removes creativity completely. That removes your ability to think critically about something because you’re in a desperate situation which goes back to this right here.

When the money is coming in, it brings down the pressure just a little bit so you can think clearly and critically. If you’re in a situation right now where you want to be a fulltime real estate investor but maybe you don’t have a job right now and you’re thinking, “Oh, I don’t want to go back to a job. I am going to be a real estate investor.” I got news for you. That’s going to be a long, hard road for you. Very long, very hard, and that’s again one of the problems.

When I share my story, sometimes, I inspire people to want to potentially quit their job because that’s what I did. I’m here to tell you that was a big mistake I made. I wouldn’t wish that on anybody because that’s a very difficult time I went through, and I didn’t need to go through it. All I had to have done was kept my day job and done real estate on the side.

 

Time Management

 

Now, this is another important point. I want to really highlight this one. I get sometimes the objection from people, and this is what they’re going to say. They’re going to say, ‘Yeah, but Phil, one of the cons of having a job is …” Ready for this? Not enough time. Maybe you feel that way? Maybe your job gets in the way of all the real estate investing you’d like to be doing right now. Maybe watching this video and learning more about the subject that is so time-consuming that it gets in the way of your job?

Have you ever maybe felt like if you just had all day long to do real estate, you would be successful and your real problem is your job? I get that all the time. I’m about to blow the roof of that object right here. Here it is. If you don’t have enough time, it’s a time management issue. Time management issue. Almost always.

There are extenuating circumstances, but almost always, it’s a time management issue because … Now, here is the key. If you can’t get deals done on the side while you have a job, and you have your family, and you have all these other commitments, and you’re coaching baseball, and you’re doing this, and you’re doing that, if you can’t find a way to manage your time wisely enough to fit real estate investing in, when you go to fulltime, you still won’t be successful because you’ll fill the void of your day. You’re going to fill the void of your day with a whole bunch of meaningless stuff that’s not productive, and that’s the fact Jack.

You will fill up all of that extra time you just gave yourself becoming a fulltime real estate investor. You will take that time and it will be blown on things like business cards, and making sure your website looks right, and all other sorts of little details which may have absolutely no impact on your income and your wallet.

 

Get Educated

 

Not enough time is actually not an excuse. That is part of your education. That’s the best part. I love it when somebody has a job when they’re first getting started in real estate. It’s part of the education to figure out how … Let’s say, for example, you only have between 6:00 to 8:00pm and that’s Monday through Friday, and then you got Saturdays because on Sundays, you don’t work, and so maybe on Saturdays, you do like a 10:00-to-4:00 or something. That’s the beauty. If you have those time constraints, that gives you the ability to train your brain on how to be more efficient.

 

Getting Things Done

 

Now, if you want to know the secret to time management, I’ll tell it to you. Now, it’s not going to be over. Not that you’re going to implement it, but the secret to time management … Are you ready for this? “Getting Things Done” by David Allen. It’s a book, and now it’s an entire methodology that is extremely popular. The guy is a genius. David Allen developed this method by studying corporate executives and seeing how many of them were so bogged down with so much stuff, they weren’t getting anything done.

If you’re going to become successful in real estate, there are certain skills you don’t even realize that you’re going to know how to do. You’re going to need to become an executive because when you’re in real estate, you’re a business owner. You’re an executive, and so you would have to delegate, and you have to get things done. This guy has developed a methodology on this. The book, you can get on Amazon, whatever. All I can tell you is if you apply the “Getting Things Done” methodology, you will master time management. With the little bit of time you have, you’ll be productive, and that’s the beauty.

Once you’re productive with a little bit of time, you’ll be productive with a lot of time. Does that make sense? That’s the old principle of you give somebody a little bit, and they’re resourceful with it, and they’ll do … They’ll be more resourceful with a lot. That includes time. It’s not just money. That principle applies to time. If you feel like you don’t have enough time right now in a day to get everything done, the problem is your time management system. “Getting Things Done” by David Allen. It will revolutionize how you get things done.

 

 How I Get so Many Things Done

 

Mentoring an entire nation of students, doing deals all across the country, doing my own deals, having plenty of time for friends and family. How do I get it all done? This right here. That’s exactly what I do. I apply it literally to the letter. In fact, I read the book consistently to make sure I’m completely tuned up on exactly how to do it. It’s a genius system, and so I invest on the side. I do exact … I practice exactly what I preach.

I invest to my own deals on the side, and I do it for just a couple of hours. Not per day, but literally, per week. I put in less than 3 to 5 hours, sometimes even less per week on my own deals. The point is you have enough time. You do. Now, there could be some extenuating circumstances. I’ve heard people say, “I work from 6:00am to 9:00pm every single day, 7 days a week.” If that’s you, you may want to consider a different job because that’s crazy. That’s way too big of hours, but you have the opportunity to be a part-time real estate investor and be a fulltime employee, and be thankful, and proud, and happy about it.

 

Having a Job isn’t Bad

 

Now, obviously, if your goal is to become fulltime into real estate, you’re going to have to be consistent, but that’s one more beautiful thing. If you don’t stick with it for the long term, it wasn’t going to be your path anyways because if you can’t do it on the side for a year, it’s probably not going to be your future. Does that make sense?

In other words, it’s just a passing fad for you, so maybe you do it for 3 weeks or a month, but that’s another beautiful thing about doing it on the side is that you give yourself the testing ground to see if you’re still going to be interested in this a month later because a lot of people, they literally just … They go from one thing to another. It’s this, then it’s that, then it’s this, then it’s that, and so this is a wonderful way to put your … Dip your toe in the water. See if you’re going to be a part of this business. If not, great, you move on to something else, but you still got your job.

 

Christians

 

This is for the Christians that are watching or anyone who’s spiritual. I get this mostly from the spiritual crowd. They’ll say things like, “Well, Phil, I know God is going to provide for me.” Now, look. As a Christian myself, I do understand that God is going to provide, but that is the same logic. Quitting your job and focusing on real estate fulltime when you have absolutely no money coming in and there’s no way to be sustainable to make sure a deal is closed, for you to do that, that would be like eating the absolute worst food for you. Bacon, fast-food, just cramming it down your system every day for 70 years, and then saying, “God is going to heal me,” when you get sick with a heart attack.

Does that make sense? It’s the same thing. God gave you a brain to make great decisions as well as to build relationships and have advisors share with you wise counsel. This is what I consider wise counsel. Keep your day job. Do real estate on the side. Do it consistently. Get better at time management. Do the business slowly. Build up your knowledge base, your team, and your skillset so that over time, you’re doing enough deals that leaving your job is not some big jump, but it’s just a natural walk into the next phase of your life. That’s the wise counsel.

 

 

Comments

  1. Emmanuel Damier says:

    very well said phil thanks

  2. What is there to debate? Very wise counsel. Thank you for your video.

  3. thank you that was really something to know and I will get the book that was awesome info I really wish you could mentor me, but no money at this time.

    thanks barbara

  4. Jacob Lira says:

    Wow Phil, this was awesome! This video was just what i needed. Everything you just talked about fitted right in my situation. I’ve been dwelling on quitting my job for months now and after watching this, i got a wake up call. Thanks for posting this, i appreciated A LOT!

  5. It sure helps to have a steady income. It will take some money to get things going. Earnest money. Closing costs. Title company fee`s. Several lines of credit will help. Good score not needed. But if you do have good credit it will increase your profits.

  6. NABIL ZERHOUNI says:

    That is how the whole thing starts from an illusion that in 30 days you will start making tons of money and quit your job immediately.I totally agree with you on this topic. For most of us we need to build on a good educational basis specially for people that are remotely related to real estates or not at all and obviously that takes time at least few month to get to a right mindset about doing things properly. Well, it took me six months to even experience my first “deal”and now I even feel more confident about quiting my job sometimes in the future for I KNOW what I’m doing and I love it.

  7. Hey that is the way I think of it and doing it too. That was the best. I am curretly a cabby and I have been doing car business on a side for four years. But right now I am looking in to Realy estate and I am flowing your teachings. Your look like u know what’s works thank u.

  8. Yes yes and yes

  9. Craig Stevens says:

    Phil, great “wise counsel”, I’m sure many of us with entrepreneur spirit consider this on a regular basis, so thanks for the reality check.

    Craig

  10. Everything you said is true. Thank God i was able to watch and listen to your video. I feel better now about learning
    real estate investing a little at a time. You gave me inspiration and hope in becoming a real estate investor. YES I AM KEEPING MY JOB.
    Thank You
    Rita

  11. Sankey Singh says:

    I sure enjoy your videos, They are very informative and educational
    I ordered your book “How to be a Real Estate Investor”

  12. Phil ,Thanks for great down to earth info. Keep helping to make people understand your system. Thank-you! Will be there soon. Real life examples & experience. Thanks LOL.

  13. Anh Nguyen says:

    Hi Phil,
    Thanks for a wonderful lesson! I totally agree with you. I am going to buy the book today.
    Hope to hear more from you soon.

  14. Raul Rivera says:

    Thank You Great Info.. I would like to learn more about Real State..

  15. The gurus who just rip-off people with expensive seminars and programs are promoting same people to leave their jobs and sell them unrealistic dreams. These gurus don’t even tell the true state of the real estate industry to the novice.

    I agree with u that unless we have made enough deals to be able to set aside at least 6 months of living expenses, we should at least keep the job that pays the bills.
    Kudos to u for being honest and thanks for guiding real estateI investors specially the newbied on the right path.

  16. Emily Busey says:

    THANK YOU. I have been having to face getting a job after being a mom full time for 11 years, and now having the four kids ages 11 and under every other week, wanting to do real estate, needing regular work … It has been very, very TOUGH to understand what to do, when, and for what reasons. This video confirmed the conclusions I’ve been coming to–very encouraging!

  17. Collin Moore says:

    Hey Phil.. I have all the time I need to learn, I have help others filp houses hands on work.. Something I want to do for myself. I have talk to all kinds like you. You catch my ears more than you know.. unemplyoed for to long now. Will find a way for your help and for us to meet, work with one another.. God will BLESS someday.. thank you on a good vibe..

  18. knowledge is power.. thanks for the empowerment Phil. I’m so grateful that I came across your company.

  19. Right on the target! You’re such an inspiration to many. You’ve an amazing team of people working for you. The age-old adage, “Working Smarter, Not Harder.” I am implementing your tactic right now. It’s all about triaging tasks and being productive. Continue rolling out your inspirational video to us. Thank you.

  20. Absolutely, you make sense. I like your advice because you exercise common sense.

  21. Heerkamal Gordhan says:

    Spot on Phil,
    I totally agree, I am just getting into the property business while I full time own and manage a liquor store business here in Birmingham United Kingdom. Most excellent and precise advice. Thank you.

  22. Great communication skills Phil. The beauty of having great counsel is that you can give advice about your hard knock experience so that everyone can learn from your your pain. Thanks for sharing.

  23. Rohmearound says:

    You inspire me to be patient and build an empire of real estate investing. Thank you

  24. HERB BRISCOE says:

    great advise Phil, you sound sincere and as though you speak the words of some one’s big brother or Father .
    genuine MENTOR.

  25. thanks for your wonderful advice n thats precise

  26. What If I decide to become a real estate agent? I am planing to take class in January 2014 and get licensed before February 2014 in MN. I am looking for a great mentor and believe real estate is going to be my greatest passion.

  27. Phil, excellent video. One thing I like about your video and your book is reality about real estate. In this video again it came clear that real estate is about patience. From outside whenever one hears about real estate, the impression is create that is a quick and one becomes rich instantly. Thank you and well done.

  28. Peter Roderick says:

    I have learned from some other ventures not to quit your job. In my case it was blacksmithing sole proprietorship. At least I could go back to my old business but I was homeless for about 6 months living at a friends, in my vehicle and in the woods. Believe me, take Phil’s advice. You don’t want to go there if you don’t have to.

  29. sheila a. says:

    I really love and appreciate the trainings.
    I was going to quit my job last week when i learned i couldnt close my 401 k and put it into a business account so i could use it to pay for a mentor.

  30. Very good, you right on target with the suggestion about
    not quitting your job so soon…i know from personal experience …struggling for 5 years…

  31. Phil, Makes sense to me. I found this interesting that this Bible verse says in Ecc. 7:18 ” It is good to grasp the one and not let go of the other.
    Whoever fears God will avoid all extremes.” NIV Thank you for sharing your knowledge and experience with us, God bless.

  32. thanks phil for another piece of good and wise advice. God bless your ministry of teaching and your family. mike s.

  33. Thanks a lot ….you’re the best in the globe….
    really to the point and so tremendous

    Thank god for such a soul like you…..

    God bless you….

  34. Hi Phil,tks for sharing n helping ppl.
    What happen when the company found out the employee is doing real estate part time n not happy about it?

    Like for my case.
    I had been doing part time for ard 3 yrs.
    First yr was learning n not earning much.
    Second yr make couple of thousands.
    Third yr slight more, ard 20 % of my main job.

    Having a main job with steady n predictable income is impt as I Hv a family n need to pay or expenses.

    Good things is I Hv a reserve that can last me for at least 5yrs.

    Real estate income is not predictable and can be stressful .

    Appreciate for yr advise with many tks

    • Phil Pustejovsky says:

      The more consistent and systematic your motivated seller lead generation is, the less ups and downs and the less stressful this business becomes.

  35. Denise Clark says:

    For so many reason Thank you! This was very well done.

  36. chuckyd says:

    I wasnt thankful for my ball and chain job, I took the buyout quick as possible. I’m not going to let a job kill me, I’ll cut it loose fast and in a hurry. I’ll get another one. Jobs are here waiting on anyone who really wants them.

  37. Deriane says:

    Philly

    Well said. I’m new to real estate and yes I want to quit my job, but I won’the because I have responsibilities. I will let the growth of my real estate business push me out of my job.

  38. Daniel Z says:

    Hello Phil
    My question is how can I find time to do this? I am an over the road truck driver and drive many miles a day which completely exhausts me. I work 7 days a week for two weeks, come home, catch up on my sleep then rolling again.
    I have watched your videos which are very informative.
    I am a Christian man who is totally burnt out literally speaking.
    Real Estate seems interesting to me and has for some time now.
    I don’t think I am making excuses as to my minimal time and capabilities to study or perform as needed

    Not looking for a hand out my brother in Christ, just a lift in this burden of ” decision and time constraint” from a successful and knowledgeable person as your self.

    Phil keep doing what you are doing, informing and helping others to be better and find within them selves their dreams.
    Be Blessed
    DZ

    • Phil Pustejovsky says:

      Where there is a will, there’s a way. If you want it bad enough, you’ll figure out how to carve another venture into your busy schedule.

  39. Rose Pachura says:

    Phil,
    You are right, do not quite your job to sell Real Estate, I am from the old school, I believe you are right on this. It is better to have an income than none at all.
    Good Job Phil!

  40. Hi Mr. Phill Kustiyuvski,

    My questions:If I want whole sale to forward the $1000. down payment contract within 30 days,
    but I am using your company’s hard money loan, then mymonthly % fee is very high, what is happening if I do not menage to flip it immediately and I will start to accumulate high % fee monthly that needs to be payed back.

    Now, 2nd senario If I am keeping and renovating and flipping and the price that I would like it to be sold but I stuck without ability to sale, again, How can I avoid those 2 type of situations, since already houses are evaluated with the real market value, and it is not easy to get any profit and very fast, to be able to sell.

    Thank you for your Answer. Shula Altman.

    • Phil Pustejovsky says:

      It’s “Phil Pustejovsky” and to answer your questions…
      (1) You don’t close on a property with hard money in most cases if your plan is to wholesale the property. You locate the buyer before you close.
      (2) Do your homework BEFORE you close on a rehab with hard money. You have to be VERY careful so that you don’t get stuck. Know what you’re doing and you’ll be fine. I have never lost money on a rehab deal in my entire life. But I have also been smart about the deals I close on (versus just re-selling before I close).

  41. Dominique says:

    This was so perfectly timed for met. Thank you. I have been in a deal which ran into a legal issue and will have taken over a year to close. I do have a job, and have been very grateful for it every day. I also really appreciate the patience this one deal has taught me, as well as other lessons. Luckily, I will come out fine, and am not dissuaded from RE investing, which let’s me know I am in for the long haul. Also, downloading the book you recommended. Thanks again.

  42. Thank goodness I never quit my job, I was laid off! But I made it work. After 18 years, I’m still in the business.

  43. Having a job will help get the deals done, especially if you have to borrow money or attract investors. Also, until you prove yourself as a successful entrepreneur, people who you do business with may wonder what’s wrong with you, and this affects their willingness to work with you.

  44. Marilyn Uduh says:

    Phil I agree with you 100 percent when you were talking about having a job and doing your real estate on the side. You know you have to have a roof over your head and to eat everyday. I have been wanting to do some deals on the side while I work, but again I agree with you that it is all about Time Management. If you can manage a little time and get a deal done then you should be able to successfully manage more of your time to do more deals. if you cannot manage your time for your business then it probably won’t work. It takes so much money to manage a household especially when you have to do it alone. If you have a job at least you won’t be so desparate and you will have the patience to stick it out until you complete your deal. If your basic needs are being met then you will be able to make good decisions in your real estate dealings.

  45. Your right!

    Currently going through this situation!!!! At least I learned…ha…..

  46. Very wise counsel Phil. thanks

  47. If you have the luxury of having a normal job, I agree. I was laid off unfortunately and I am a full time investor now with a part time job. I had been flipping homes for 10 years on and off so I was able to transition a little easier. Having money coming in definitely helps you make better decisions.
    My full time job was one of those leave your house at 5:30 am and get home by 8 pm. It was sucking the soul out of me.

  48. hi Phil I have been trying to get into real estate for awhile now and something always happen like a death,divorce,loss of job all those things have plagued me and now I have two jobs and not enough time to do the e/r planning to quit one job and get the book by DAVID ALLEN P.S. work for a school in the day time and the airport at nite which has become a pain in the ASSS under new management?????

  49. Hi Phi I’ve just inherited a piece of real estate so I’m just getting started I am so thankful for your tips and encouragement God Bless you

  50. Gary Hammond says:

    I appreciate the lesson, but if I didn’t have a family, and I was single I’d quit right now today!

  51. Excellent Phil, however with how my day is going i would walk right out the door if I didn’t have a family to provide for!!!

  52. Nick Bergerat says:

    Phil,
    first of all thank you for sharing this priceless knowledge for free. I started Real Estate in Canada when i was 22 and i am now 27 and still not ready to leave my job to go full time only because it takes time and patience like you said to realize how this world works and to get the proper knowledge. It’s like languages, the immersion is still the best but it can takes time. At the end of the video you talked a little bit of building a Real Estate team, can you make a video about this specific topic? I know you talked about mentors i other video but i would like you to talk more about ”wingman”.

    God bless you Phil and thank you again for all this info.

  53. Fabulous !
    Fantabulous !
    Totally On Point.. !

    Yes, I want to quit my job—EVENTUALLY…–Yet I honestly realize the reality of Keeping my Job…..
    I am good with doing RE on the side…and keeping my full time job…to see my staying power…..
    which I believe I CAN Do….LEARN more with each passing Deal…with a Mentor…

    Great WISE COUNSEL…..

  54. ester hardegree says:

    you are a genius thank you very much i learn a lot of information from you

  55. Thank you very much for your guidance on this subject. I cannot even begin to express how much this video just helped me about my current job and my real estate investment business. I found this video at the perfect time. Thank you for posting it. I will keep my day job with this new perspective and new approach to managing my business on the side. Thanks again.

  56. Thank you.

  57. Bill L. says:

    Phil,
    Can do this if I am retired and on social security?

  58. This was great input, I couldn’t agree with you more.

  59. I should read the book. I already own it. “Haven’t had the time…”

  60. Shawn Afshar says:

    what about being an Agent? can you make a full time living being a realtor?

  61. Thanks for your sincerity Phil! I have been struggling with same questions for quite some time. This video gave me clarity and a new focus. Now, I can push the reset button and make a gradual leap into R/E investment.

    @ Daniel Z: you are probably on the road now, just wondering if working part-time is an option? If you currently drive interstate, is going local an option? You would be able to identify properties as you drive around your state anyways. Another option is to work towards becoming an owner operator so you can set your hours? Brother, hope this helps? I am out of ideas…lol..

  62. Great suggestion, real estate can be a great road in making money but not having residual income to support the house hold expenses can damage a person or family. A job to support yourself or family is good thing and when dealing in real estate market one need to build that residual income.

  63. Phil,
    Excellent presentation. However, starting a real estate business needs money and I am really confused on how to start. I even have one rental property ( not by choice but due to my move to another state for work), and that property is taking all my savings for repair due to insurance drop out.

    Any help or idea?

  64. Ron Panida says:

    Thanks Phil, what a great advice, specially for a new investor!

    Thank you, I really enjoy watching your video, I’ve learned so much just by listening to you. I will also buy the book that you have recommended!

    Thanks again,
    Ron

  65. Thanks for such wise advice, i knew it was important to keep my job while doing real estate for the finance part but you helped me more by giving me reasons i didn’t even think of. Thanks Phil

  66. As always Phil good advice. I work full time as a realtor but my wife has a full time job as a nurse so her income keeps us going when real estate slows down. Don’t have to worry about insurance since I am covered under her benefits. Business has slowed down again but I have a closing January 21 and four other deals in the works. None of these are real estate investing but buyers. I plan on doing some real estate investing but have not found a deal that will work for me yet. Take care and God bless. Thank you so much for sharing your knowledge. You are a blessing. Larry

  67. Moses Wilson says:

    Hey! Phil this is Moses Wilson watching your video why quit your job to do real state full time. I agree with you my shift is 6am to 6pm and off on Saturday, Sunday and Monday the things that you talk about you Hitt the hammer right on the nail.
    I was very impressed by what you talking about time management Sat 10-4 would be perfect. It fit may schedule perfect. I am talking your advice getting the book “Getting Things Done” by David Allen and study Corporate Executives and their sucess…Master Time Management …Practice what you preach..Phil you are my Angel send from God all mighty.
    Thanks Again!! God Blesses You. MosesWilson ( WorldVentures)

  68. Thomas C Franks says:

    Great advice! Some of the best advice I ever received from my professional business mentors were what NOT TO DO in addition to what works…

    Anyone who has ever transitioned from employee to business owner would agree in a second. I owned three fourplexes until the market crashed and took them away. Never quit my day job and that saved my bacon.

    Love your videos Phil!

  69. Hi Phil,

    Thanks for this great advice. Is it wise to start real estate investing in a commission based job without much savings?

  70. Thank you, Phil. You are someone I trust and respect amongst this world of soothsayers of Real Estate investment coaching. Too bad I am far away in Asia. Would have been interested to join the coaching.

  71. Steve Roberts says:

    This is another home run. I have watched many of your videos, and have read your book on real estate investing. My interest in this subject goes back to the eighties. I brought Carlton Sheets RE course. I have watched many RE gurus come and go, and in light of that, I am moved to say that your activities, presentations, advice and wisdoms are by a country mile, the absolute best, by far. Talking with people in the industry, I have come to recognize, your advice and wisdoms are spot on for the US markets. I thank you for your work. I have a job, but working toward and hope at some point to become one of your apprentice students. Thanks again for being courageous and gracious enough to share your real real world as it is, hard knocks learned experiences and knowledge. I’m just trying to express some genuine gratitude to you and your teams for trying to make things better.

  72. Cameron P Strange says:

    Hey Phil,

    Thanks very much for the good advice. This video was not only inspiring, but also educational. Thanks very much.

  73. Hey Phil,
    Super Video!!! Great advice and right timing for me.
    Thanks

    Will follow your videos

  74. Outstanding video, a lot of people including myself have banked on If-income and not income in the past and have gotten into a tough fanatical crunch. Great video and information Phil.

  75. Daniel Roman says:

    Super video

  76. Daniel Roman says:

    Very good video

  77. DeAndre Cleveland says:

    Great video, can you give me information on FinderFees programs or businesses that are involved with Real Estate, before I invest .

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