How to Invest in Real Estate While Working 9-5
When starting out in real estate investing, do not quit your day job. Your 9-5 job provides you with a steady income, health insurance, and paid vacations, and makes it easier to obtain real estate loan approvals. The downside is that it’s hard to find the time to work on real estate deals. So, how can you effectively invest in real estate while still working 9-5 at your regular job?
The Key Word is Flexibility
Real estate investing involves extended periods of inactivity interspersed with short bursts of action when you need to stop working and jump on a deal. With this in mind, you need to reassure your boss that you will always notify him when you need to leave the office unexpectedly and that you will make up the time.
The Long Lunch Hour
If your boss is not amenable to your taking time off unexpectedly, one approach is to make an arrangement whereby you come in an hour early every day to make up for a two-hour lunch break. The two-hour lunch break can be used for real estate investing – researching markets, looking for deals, making phone calls, etc. If the long lunch strategy doesn’t work for you, maybe you can volunteer for unpopular responsibilities or extra shifts in exchange for flex time.
Recruit a Flexible Support Team
Real estate investing requires a flexible real estate agent or an agent’s assistant who can meet you at the property and provide you with a contract at short notice. You also need a contractor that can quickly meet you to view the property and provide you with a rough estimate of any needed renovations. Also, consider paying others to take over the tasks of accounting, showing vacant rental units, supervising property repairs, etc.
Successful real estate investing requires an established relationship with a reliable lender so that all it takes to clinch a deal is a short phone call. Flipside Capital is here to assist you to obtain properties and build your real estate business. Contact us for a consultation.