How to *Strategically* Quit Your Job and Become a Full-Time Real Estate Investor
Would you like to quit your J-O-B and invest full-time in real estate investing?
A great way to do that… is to do what one of our members, Josh Borcherding from Eau Claire Wisconsin, is doing. He’s *strategically* quitting his job to go into real estate investing full-time (more on this in a min).
It all started 3 years ago when Josh read Rich Dad Poor Dad by Robert Kiyosaki. This got the ball rolling. He and his wife sold their house, bought a 4-plex, and moved into one of the units.
I didn’t know it at the time, but Josh started following me and the rest of the PMBP clan about 6 months after buying that first property.
What’s really cool is that he’s been updating me on his progress regularly since joining our Certified Strategic Investor training program. Check out these updates over the past 6 months…
August 20th, 2011
“First off I want to thank you for all the great info you share! We are currently going through your CSI program and love it! Currently we have about $100+K in private money from a few different lending partners. Thanks.” – Josh
August 25th, 2011
“Can’t wait to start doing more deals with private $$… in the past two years my wife and I have built a nice portfolio of 13 rental units cash flowing at $3800 a month! We love what we do and can’t wait to reach our goals. Thanks again for the help.” – Josh
November 1st, 2011
“Hey Patrick, just wanted to shoot you an update from the last time we corresponded in late summer. My wife and I have went from 13 units to adding another 10 units, (two 4 plex’s and two single family homes), and we did it using none of our own money! We have increased our cash flow from $3,800 to $5,011 per month.” – Josh
At this point, I asked Josh to share his success story with our members on our next monthly training. The webinar was awesome. It’s amazing how no matter how long you’ve been in this business, there’s ALWAYS more to learn. That’s why we love bringing on members to share what’s working for them in today’s market.
If you’re kicking butt and taking names like Josh, we’d love to interview you sometime… and continue to show people that not only is real estate investing possible… it’s possible for YOU! Anyone can do this when you take educated action. Especially when you have support and encouragement from fellow investors.
Ok, now for the kicker
When I talked to Josh a few months ago, he told me he set a goal to quit his job and go into real estate investing full-time within 1 year. Well, he just sent a new update yesterday and he’s 7 months ahead of schedule! BOOM!! Check it out…
February 20th, 2012
Well I did it again!! I put an add on craigslist “Looking to Buy Rental Properties” and got a reply! We met with the 3 brothers and found out they own a bunch of 4 unit townhouse style buildings and are willing to do seller financing.
I used the same 3 offer approach I used in the past and and negotiated 10% down with a 5.5% rate for 12 years and they are willing to renew the note after that 12 years. They have 28 units (7 buildings) that they want to work with us on, we are going to close on 8 units (2 buildings) next month and work together to close on the rest in the next 10 months doing 8 units (2 buildings) at a time.
The 10% down will be covered by a private lender and the properties will cash flow over $500 a month each, not using our own cash! After the private lender is paid off they will bring in over $1,000 each.
Thanks again for all the great info you put out there, couldn’t do any of this stuff without quality mentors like yourself.
P.S. My goal to leave my current job will be met this June 1st. 7 months earlier than anticipated!!” – Josh
How is Josh *Strategically* Quitting His J-O-B to Become a Full-Time Investor?
Josh’s niche is multi-family properties that generate solid cash flow. And he’s using these cash flow properties to replace his income.
He’s being strategic about it. Josh isn’t just jumping ship from his current income at his job, he’s replacing it FIRST.
If you’re newer to real estate investing (heck, even if you’ve been doing this for a little while) and your ONLY source of income is through deals, that can be a very stressful.
Here’s what I feel is the best strategy to go from where you’re at right now to becoming a full-time investor…
1) Establish an income OUTSIDE of real estate investing to pay for your (or your family’s) current lifestyle. Maybe a part-time job will suffice. If not, get a full-time job for the time being. Or however many jobs you need to pay the bills.
2) Spend as much time as possible building your REI biz when you’re not working to earn your income.
3) Quit your income earning job or jobs (if you want) AFTER you’ve replaced your income through real estate investing.
Let’s Show Josh Some Encouragement and Support!
Here at Private Money Blueprint, we’re a community of like-minded investors, a family. We’re not like a lot of the other gurus out there who care more about profits than their students results. The reason I do what I do helping other investors with our training, products, and support is THIS! It’s Josh’s story and SO many other investor’s stories… who have become successful investors and are leading new lives because of it.
Josh is on track to achieve his goal (7 months early!!) to quit his job on June 1st. Show Josh some encouragement! Show him YOUR support!
… by leaving a comment below.
If this were you, wouldn’t it be empowering, motivating, and inspiring to have investors all over the country behind you… pulling for you? You bet!
Leave a comment below and let’s show Josh what it really means to be part of the PMBP community. Thanks. I really appreciate you.
P.S. – If you enjoyed this post, share it with your friends, family, and followers. Who knows… it may be just what someone needs to help them build a thriving real estate investing business and live an epic life.