Getting Rich in Real Estate – Full Time Job or Fast Track to Wealth?
Getting rich in real estate is a lot of work and a full-time job. As a full-time professional real estate investor, I get a little upset when I see late-night television show commercials touting just how easy it is to make a huge amount of cash, part-time as a new real estate investor.
It’s just not true.
While you can make large amounts of cash as a real estate investor, it does take an investment of time to learn the business and your market and having some cash to spend on marketing or holding cause sure helps.
While there are methods for generating large amounts of cash quickly in real estate (like wholesaling and flipping), I generally recommend people get rich slowly with real estate investing by becoming a long-term buy rants and hold investor.
In fact, you can become very, very rich in real estate working part-time. By investing a little time, each weekend looking at potential long-term rental properties, making smart offers on them and building a portfolio for passive income.
“But I can’t stand my job! How long before I can quit?”
Well that depends on how aggressively you start building your portfolio and just how much income you need to generate from your real estate investments.
If you combine building a long-term real estate investment portfolio with the occasional “buy, fix and flip” house, you can probably quit your job relatively quickly.
While I have done my share of “buy, fix and flips”, at this stage in my investment career, I tend to buy and hold.
Unless you’re familiar with irregular income like a sales job, the stress is of relying on “buy, fix and flip” income is often too much for most people to bear.
If you have a good job now with the good income, it is my opinion, that you might be better served keeping the job and doing your investing part time. That way, you’ll still have money coming in to put food on the table, gas in the car, and clothes on your children’s backs while you build your fortune in real estate.
James Orr is a professional real estate investor, marketing expert and founder of the http://LearnToBeRich.com on-line investment game.
You can get a free real estate course and fully analyzed real estate deals and his blog by e-mailing him at firstname.lastname@example.org or visit the [http://LearnToBeRich.info] for more great articles and information.
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Benefits of Real Estate Jobs.
In real estate business, different companies work together. There are several companies who offer good real estate jobs. Companies that can manage various duties like; building and garden care etc., these companies are known as an estate contracting companies. These companies have a sub-category named foreclosure clean-up Company.
This company performs various tasks like; changing locks, cleaning the building and setting up doors and window panes. These companies also have other types of tasks to do e.g. debris removal, taking acre of your lawn and yard, painting of buildings etc. These companies do offer some good estate jobs.
These jobs have much growth potential. Estate agents are actually self employed and own their business. The agent has his own timings and working schedule. Now we will pin point some of the key benefits of estate jobs.
1) Tax Benefits: The estate agent has to work as a contractor. Usually he is supervised by a broker. This makes the real estate agent an independent worker. He can get the advantage of tax deductions. In this way, he can save thousands of dollars. These deductions like; mileage, vehicle, advertising and some educational stipends really help to boost his earning.
2) Flexible Schedule: Another great benefit of these jobs is that you can easily select any working hours and this makes you an independent worker. There is no need to bind yourself to conventional office timings. You have the ability to decide your own time. This allows the person holding such a job huge flexibility. He can easily manage his time and perform his duty in a way which he wants.
3) Commission: Real estate jobs offer you the full control over your work. You can earn extra commissions on the real estate sales. The income of the real state agent depends completely on the value of his sales and the commissions he earn for himself. The broker deals this matter and he pays the agent his commissions according to the deal. Bureau of Labor Statistics deals with the commission rate of the estate agents.
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