From Buyincomeproperties.com

Real Estate Q & A
Should I become a part time or full time real estate investor?
By Buyincomeproperties.com
Jun 1, 2006, 14:51


If you want to make a career from investing in real estate, one of the first decisions you will need to make is whether you are going to devote yourself full time or part time. 

For some, it will be better a better option to start on a part time basis. This way, you can keep working, and you will therefore feel secure knowing that you will have a regular income still coming in each week. Starting on a part time basis will definitely suit investors who do not have the capital behind them. Investing in real estate on a full time basis will require a substantial amount of capital in order to maintain your lifestyle while you make your first few property deals. When you consider that you may not make any money on your first property deal for at least a couple of months, starting out without sufficient capital behind you on a full time basis would not be a viable option at all. One thing that you will have to consider is that if you are working and conducting your real estate deals on a part time basis, then you are not going to have a lot of free time. You will need to work nights and weekends in order to make money. But remember, you will get to the point where your profits from your real estate investments will be able to support you full time. 

When you reach the stage where you are earning a good income by investing in real estate on a part time basis, you can then decide whether it’s time to leave your regular job and start investing full time. 

If you are a married couple however, you have the best of both worlds. One spouse can continue working full time while the other spouse concentrates on real estate investing on a full time basis. This way, you are able to devote much more time to making your first few deals while at the same time enjoying the financial security of a regular income. Eventually, you will reach the point in your real estate investment career where you are able to decide whether the working spouse leaves their regular job and begins working on a full time basis also. This will then allow more deals to be made and this in turn will mean more profit. 

If you do have the capital behind you, and you do not need to rely on a regular income, your best option may be to delve straight into real estate investing on a full time basis. If you can devote all your time and energy to your new career, you will learn much more quickly, and this will allow you to start making good profits much more quickly. Knowledge and experience is vital for making money from real estate and so the quicker you can learn the better. 

Full time investing will also provide you with the opportunity to be self employed. This has obvious advantages in that you will become your own boss and therefore you will be able to work your own hours. It also means however, that you will have to complete all the tasks that are required of a small business person. You will have to answer the phones, pay the bills, do the bookkeeping, order office supplies, complete your tax returns and look after any sales and marketing. And as you’ll be working by yourself much of the time, you’ll also have to be able to work well alone. 

Whether you can start your real estate investment career on a full time basis or on a part time basis will be up to your individual circumstances. If you have the means behind you, consider going straight into it on a full time basis in order to quickly gain experience and knowledge in the property market. If you are not in the financial position to start on a full time basis, then you can still start making money by working on a part time basis, however it’s important to remember that it will take a little more time to learn, gain the required experience and to make good profits. But take heart, it will only be a matter of time before you will have the opportunity to invest on a full time basis.



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