Fork in my road...Advice?

[mkupina]

I am at a fork in my road and I thought I`d ask for advice in making a decision.

Currently I am working as a manufacturing engineer earning a decent wage considering I am a recent university graduate with no debt. But, I do not enjoy my job. I have always been interested in Real Estate so I invested in a Condominium over a year ago; which has been successful. I have since read Don`s books and signed up for the Toronto Qickstart seminar with plans of joining the REIN group. I am the owner of a Personal Belize that allows me freedom from my job and into a full-time real estate career within 5 years.

But, yesterday I received a letter of acceptance into Teacher`s college, which is definitely a career that I would enjoy. But, this option will exhaust my savings and halt my real estate investing plans for 1-3 years while I go back to school and change careers. Teaching pays less and finding a job is difficult; both of which will make getting back to R.E. investing difficult.

Can anyone give me any pointers or advice?

 

[terri]

Hi Mark,

what`s important is that you don`t give up your dream and stay focussed on what it is that you really want. I stayed in a (relatively) good paying job for way too many years because I thought that it would get me closer to my dream of realestate investment, I felt trapped. I too complemplated going back to school, but that would be expensive and take me farther away from my realestate goal, so I just thought about it for a few more years and continued working at my job. Couldn`t decide whether to save up to go back to school or for a down payment. Then fate made a decision for me. 3 yrs ago I became ill and had to give up my job temporarily until my health was sorted out. That`s when I started living the life that I really wanted, I sold my principal residence and now I have 3 properties with a total of 10 apts. I`m not anywhere near where other Rein investors are with 10`s or 100`s of properties, but I`ve managed to get by without any other source of income for the last 3 yrs and that`s been my major accomplishment. Last October, I finally had surgery, it was a sucess and I am now in a position where I can choose to go back to my old career or go to school and find a new career, but I`m hoping I don`t have to do either of those because I love what I`m doing now and I hope to soon be in a position where I actually make enough cash flow every month to live on it.

What do you really want? do you really want to teach? If so then go to teachers college, you will find a way to make realestate work, it will take longer but it`s not impossible. But, if being a teacher is not your passion, if your passion is realestate then maybe concentrate on finding a way to make that your job. Maybe realestate can finance your education. Go to the quickstart, talk to other REIN members, you will see that it`s not as hard as it seems. Just do what you love, life is too short not to.

Terri

 

[CarlaJohnson]

Hi Mark,

I have been teaching for a long time and I can tell you it is profoundly rewarding. It is also totally exhausting, especially in your first years. And there are many teachers who are big real estate investors.

Yes, going to teachers` college will set you back a lot of coin and yes, it will be difficult to get into the profession. You`re looking at a couple of years or more of supply teaching in Ontario. But, you are young and and if this is something you really want to do, this may be your best opportunity.

In teaching you will learn an enormous amount about yourself and about working with people. Good landlords and property managers need the same skills as good teachers.

You have to know yourself on this one. Is your Personal Belize a rigid or flexible idea? Why do you want to be job-free in 5 years? Is it because you dislike your job? Or, do you have other things you really want to be doing job-free? At Quickstart you will be challenged to think about WHY you want to be job-free and what you really want to be doing with your time and energy.

I am working my way out of teaching through real estate investing. I will always cherish the time I have spent working with young people. They have kept my spirit young and my mind sharp.

Take time and look at what you really want to do with your time, you talents and your energy. Hopefully a good bit of soul searching will show you a clear path.

Look for me at the Toronto Quickstart - I`m 6` 2". I`d be happy to chat.

Cheers!

 

[EdRenkema]

Hi Mark,
We missed you at our last meeting, several new people were out and lots of ideas were exchanged. Remember when I explained to you the merits of joining REIN? Did I mention its a tremendous support network? Well now you know. BTW everyone in our mastermind group will be going to Quickstart. I will be staying at the Marriot and you can contact me if you want to meet before, after, or during any session. Hope to see you then.

Ed R

 

[KULA]

Hello Mark,
You are in a painful but nessessary place. I am a teacher - a prof and Dean at a college [never mind the geeky pic]. I know that when I reach my `Belize` i will still be involved in the academic and leadership field...because I love helping people learn and grow. Although I have just started on this Real Estate journey I also feel addicted to it. It feels like I will be doing this for a long time to come. Use the decision to learn more about yourself and what you really want. Below are a few questions that may help you;
[list type=decimal][*]Do you really want to teach?[*]Is teaching a passion or simply a way to distract you from your own sense of feeling unfulfilled.[*]How you felt when you have taught before?[*]If you could do anything you wanted, and you had all the resources, and you could not fail, what would you do?[*]If you could do anything you wanted, and you had all the resources, you could not fail, who do you want to be?How do you feel when you think of not taking this opportunity? How do you feel when you think of postponing involvement in real estate?If you really want to both, why can`t you? Identify the challenges to start working towards answers for each challenge.Do you think the difficulty in trying to do both is insurmountable or are you fearful [we all are or have been at some time] of stepping into real estate?When you die, how do you want to be remembered? Which decision brings you closer to of how you want remembered?[/list type=decimal]I know that some of these questions can seem difficult or silly depending on your perspective. However in my experience, I have found that thinking deeply and reflecting on yourself and who you want to be eventually bring about a clearer picture. In my opinion, who you want to be is more important than what you want to do. Who you want to be will determine what you do and how you do it. Also no decision is final. Any decision you make can be changed.

Specifically with regard to teaching or real estate: I think you can do both. [For example you can buy property that cash flow`s which you can use to fund your education. There are many ways I would encourage you to do the inside work of dreaming first]

I will be at Quick Start. Come say hi.

Cheers,
Niran Kulathungam

 

[Manjula]

Mark,

A difficult choice...I think it`s amazing that you have created such great career options for yourself.

My vote would be for staying in your current engineering role. It seems to be something you enjoy and it also gives you the finances/time to reach your Belize in 5 years (and RE investing takes time and money). When you reach your Belize, you can add a part-time or full-time teaching career to your next set of goals.

I am an engineer and made a big career change myself a year back - if you ever need to talk it out, feel free to drop me an email, would be happy to meet up at the Toronto Quickstart,

All the best,
Manj

 

[invst4profit]

Funny how each person lookes at life and work differently.
I believe you have an easy decission but that is because it would be easy for me.
Work is part of my life but my life is not part of my work.
If you want to work for the rest of your life and that work will impact your daily life
chose the path that most appeals to you.
If work is only an income (means to an end) and your interests are in RE investing,
sky diving, or anything else then stay with the higher paying job.

 

[mkupina]

I have decided to stay in my current career and follow my real estate passion. Even though I enjoyed my teaching experience, what sold me on the profession was the well-balanced life style it provides with a respectable amount of time off. This freedom would allow me spend more time with family and pursue other passions (real estate, traveling). But, I believe I can accomplish this with real estate. So, I will be attending Quickstart and joining REIN with a set goal and an incentive to get started on my path to freedom.

I am overwhelmed by the response and support from all of you. I thank you all for helping me ask myself the important questions and stimulating a deeper reflection on who/where I want to be. I hope I can meet all of you at the upcoming seminar or at future REIN meetings and give you my thanks in person.

 

[SamEfford]

Mark, that is the great thing about real estate investing. You can have your cake (career that you love) and eat it too (more time to spend with frends and family with a supplemented income).

 

[JohnS]

QUOTE (mkupina @ Apr 4 2008, 03:09 PM) I will be attending Quickstart and joining REIN with a set goal and an incentive to get started on my path to freedom.




I`m not sure if you know this or not, but if you`re going to join REIN, make sure you do it before you sign up for Quickstart, as all REIN members get to go to Quickstart for free.

Good luck, and have fun at Quickstart!

JohnS

 

[mkupina]

I didn`t know that....I actually already signed up and payed for Quickstart. Maybe if I call on Monday morning and join REIN they can make some kind of adjustment...I hope?