Are You `Switch-Jobbing?`

[JoeRagona]

I was struck by inspiration today after speaking with someone I am helping transition from their 9-5 work day, 40 hour week to living her passion and ultimately creating income from it. It all relates to Real Estate investing because let the truth be told that it is very challenging to leave your day job and live from your real estate 5 or 6 years in ` for MOST people.

But,
on the other hand, I would also suggest it`s very important to look at
how your `regular` life is affecting your future success. Let`s put
Real Estate Investing aside for a moment because I don`t believe it is
something you or I are truly passionate about ` what we ARE passionate
about is the RESULTS you get from it.

And here`s a tell-tale sign you're doing what you are `supposed` to be doing.

I call the process ` switch-jobbing; what that means is, some people start up a part time gig at night or on the weekends that is usually centered on what they love to do. It begins as a hobby or just to `unplug` from the mundane day-to-day stuff and eventually, they are immersed in it.


But
it`s not bad is it? It`s actually kinda cool to be addicted to
something you love right? What is happening before you know it is that
you are living a passion that IGNITES you ` you find yourself thinking about it when you go to sleep and when you wake up in the morning ` as well as all day long.


However the next work day rolls around and you switch back to your regular work ` but then something changes a few months after starting this side-line of yours; you feel like you hit a wall the minute you step into your work environment ` co-workers become a touch more annoying because it`s the `same ol`, same ol`.


You wander and day-dream ` suddenly waiting for 5pm for a different reason ` it`s NOT to stop working, it`s to start MORE work on what you love.

You're Switch-Jobbing is No Longer Working

` and, in my opinion, it`s the very apparent sign that you need to move on
and follow what drives you. What does sitting in a desk job for
instance, do for you if all you are doing is waiting for 5pm to roll
around? What really are you contributing to yourself?


I totally
get that we all need to eat, a place to sleep and clothes on our backs,
but I don't think it`s a reason to give up your soul either. You and I
can slowly move from being a constant, faceless person in the realm of
society, to standing out from the rest doing what we love like no-one
else can.


I've personally done it, trading major 'security' to
pursue what I believe is why I am on this planet and I have witnessed
the slow growth of clients also suggesting they take the final leap from
their `day-job` because their `switch-jobbing` is doing more harm than
good.


Where are you with your switch-jobbing? Is there a reason you still do it? Maybe we can hammer this out together`drop me a note below!!!

 

[Thomas Beyer]

I think Joe raises a few valid points !



Why live if you do s.th. you do not like ? How to switch ? How to switch and not get caught ? A transistion strategy is in order !



I have posted some thoughts here on myreinspace on "5 ways to make money" .. and real estate usually covers the first four.



However, it assumes a decent enough cash-flow or cash in the bank to live for a while.



It took me about 5 to 6 years to switch from a full-time software / IT consultant to a full time real estate investor .. in a very fast moving, let's call it booming, market from 2000 to 2005. I had money to invest and after 3 buildings bought personally with my own money added investors money. The first 4 years I worked almost full-time in software .. and then gradually retreated.



IT IS A LONG ROAD TO FULL TIME REAL ESTATE INVESTING !



Ensure you have enough resources to get there !



This usually implies that you have to keep working full-time or part-time for 5+ years .. likely more. Budget on a decade if you have a family to support. Real estate investing is another "job" if you want .. it takes a lot of effort, too, to find deals, write offers, inspect properties, re-write offers 4 times, re-inspect, assemble a team, monitor a team, monitor the assets, get a mortgage etc. .. but it can be more rewarding for the right individual (it was for me, anyway) .. but it can also be challenging to go 6 or more months with 0 income and live off your savings. It needs an understanding partner, too !



My common question at the Safeway counter, when asked "will it be debit or cash" often was "do you take equity" .. as I was equity rich but cash poor. That takes some very careful planning as you build your networth .. as $250,000 equity in an asset is not $250,000 you can spend immediately !



Getting 2 -3 deals done PART-TIME while you work FULL-TIME should be the start .. and then you can very gradually back off "work". Very gradually ..



And I trust Joe has a system in place to help you in that !?

 

[JoeRagona]

Thank you Thomas!!! I can always count on you



The systems I have in place definitely help Real Estate investors get to where they want to go faster, alleviating all the lipstick and rouge stuff and dig down to what's real.



I love the fact that you are very active on this forum trying to do the same thing - it's what gave me many 'jump-starts' and answered many questions ...



The very fact that you are telling how long your 'switch' was is important for people to know. For me, the story of selling off my businesses and basically being in a position most are stiving for (debt free) for about 1 DAY and THEN deciding to invest in real estate for longer term growth and sustainability was just my way of transitioning.

 

[LAndersen]

I couldn't agree more that it is a long process. When we set up our real estate goals last year the goal was to have $5000 a month in positive cash flow within 5 years. That seems like a far off dream right now but one that is still attainable, just maybe a little longer than originally planned.



Something that has spoken loud and clear to me which you mentioned again was passion. Is what you are doing your true passion? Is it why God put you on earth?



I love to do what I am doing but long for more freedom from the "9-5" and that is part of the reason that we have started investing in real estate. We want to have the freedom and financial security that somes from having cash flowing assets that will be able to provide that freedom. We also know that we don't want to depend on the government for our retirement.



What gets me is when I talk with people about real estate or stocks is people who say "I thought about investing in that years ago when prices were cheap. Look at the price of apple stock now, I can't afford it now. If I would have bought years ago, I would be . ...... They say the same thing about real estate but yet have their own homes of course. I just don't understand people like this as it confuses me. Perhaps those of us who study business and real estate know how business and real estate work and choose to get educated.



I hope this helps to give a bit of my perspective on what you are talking about as I know myself that I am trying, if slowly, at doing something similar.

 

[DenisEncontre]

We dabbled in RE for 15 years before making a commitment to playing offence and stop only playing defence. You have to score a goal once in a while to win the game. I had a federal gov. job as a system analyst/programmer and would listen to some of my older co-workers start counting the sleeps 3-5 years before retiring and collect the golden egg. This golden egg soon lost it's shine as they were living on a fraction of what they were used to. It became unbearable to go to work anymore. I loved what I did but the politics and the lack of enthusiasm in the office was slowly killing me.



We (Wife & I) started taking RE courses on our holidays and implemented a 2 year plan to get out of my job. I have to confess the day that I gave my notice was one of the scariest moments that I can remember, but knew that getting out of my comfort zone meant I was expanding and growing.



Six years later my net-worth and income are more then I could have imagined. Now we live our lives on purpose and with passion and don't answer to the Man.



You cannot be very good at something unless you love what you do. You just won't put the time in that is required. Follow your passion not the money, the money will take care of it's self, if and only if you are passionate.

 

[JoeRagona]

Hey there Landerson,



It does give me more of a perspective of where you are coming from (and we'll talk about this on our private call coming up) and I'm glad you are one of the few that choose to ignore the masses and edcuate yourself - most importantly, moving forward.



You are absolutely correct about passion - it is the key in becoming successful, not only in the monetary aspect, but in yourself as well. When you speak with most people, yes, they are stuck in what is comfortable and most will not venture out to buy that Apple stock or an investment ... it will ALWAYS be too expensive in their mind.



what you are doing is realizing what Real Estate can do for you and hopefully approaching it from the long-term view ... there WILL be ups, there WILL be downs and if you know this going in, you can let it 'ride' when you build it as a business correctly (again, we'll talk about this offline). When you are searching for your passion, it will be 99.9% outside of Real Estate investing, that's because the investing GETS you to live your passion from the results of it.

 

[JoeRagona]

Hi Denis,



Thank you for sharing your story, you have put into perspective what I try and teach to my mentoring clients AND what I talk about on the REIN stage about stepping into FEAR. I hope more people read your story because so many are in the same boat ... when I tell how I traded fame and fortune to 'find' myself and create long term wealth instead of all the instant gratification, it too hits a few points for people.



I LOVE the fact that you end your story with what I suggest also : the money WILL take care of itself if you are passionate about what you are doing ... I'll add just one more thing , as long as you are GRATEFUL for what you already have as well.



Thanks again for your awesome input here!

 

[LAndersen]

I couldn't agree more. If you follow your passions, whatever they are, the money will follow. When we are truly where we are meant to be we will solve the problems associated with it with joy and gratitude and not the "boss needs this fixed" mentality.



I will admit that stepping out of our comfort zone is scary, no, make that terrifying especially when you have a family that depends on the income to put food on the table etc. That is where many of us get stuck. The challenge then becomes how to do this and I am not sure at this point.

 

[JoeRagona]

Leif,



you are completely normal for feeling this way - being stuck, disconnected and of course a bit scared of what the future holds. The good part is, you have stepped into learning by being here. Less than five years ago, I had ZERO knowledge of the Real Estate investment "business" - I made unreasonable commitments - which I spoke about at the event and even though it was terrifying, we made it through.



Is it over? No, we...um I, am still cleaning up mistakes made four years ago, but it doesn't stop me from my plan. You may just need some help with your plan, figuring out where you are FIRST is the most important step, because even if you know where you are GOING, how will you get there if you don't know where you are STARTING from? Think of a map, even if you want to go to Toronto, if you don't know where you are ... well you get it. Hopefully I can help you in this.