By Mike Baird
Usually, when you read my blog or hear me talk about real estate investing and house flipping, you’ll hear a lot of the positives. That’s because there are a lot of “plusses” to choosing house flipping as your career and starting your own business. I love helping people get started on this road because it’s done a lot for me over the years, and I think it can do a lot for you, too. The thing is, though, I don’t want to mislead anyone into thinking that it doesn’t take consistent work or sacrifice to make it happen.
I don’t want you to think that it’s all work and no play, however. In fact, if you’re ready to get started in the real estate investing business, you might find out that you’re already willing to make these sacrifices. But I’ve been thinking a lot about the things I’ve been willing to give up to be able to be an entrepreneur, and I think it’s important for you to know what you need to be willing to let go, in order to make it as a real estate investor.
A Steady Paycheck
First of all, are you ready to leave behind the stability that comes with a regular 9:00-to-5:00 job? For a lot of people, getting that consistent paycheck every two weeks is worth going to work every day and working for someone else. If you’re an entrepreneur at heart and you’re ready to start your house-flipping business, though, that stability just isn’t worth the time and energy you put into just getting by. You want more, and you’re willing to put up with a little bit of uncertainty to get it.
Living in Your Comfort Zone
Along the same lines, when you go to a regular job every day, you know what to expect and you have a set of skills that you’ve developed to deal with all of your tasks and responsibilities. When you quit that life and move on to start your own real estate investing business, you won’t feel that same comfort for a long time. If you want to make it in this business, you have to step outside your comfort zone, learn new things and practice new skills.
A Defined Split Between Work and Home Life
If you take this leap, you’re going to be working from home a lot, and you’re basically going to be setting your own hours. Your work will be largely based on when you can talk to your real estate agent, when you can call motivated sellers, when auctions are taking place and when your contractors are working, and it won’t be the same set-in-stone work schedule that you had before.
Moreover, working from home means that the lines between your work and home life will be blurred more than they may ever have been in your life. You’re going to have to learn how to set your boundaries, when to clock in and out and how to work most efficiently without sacrificing time with your loved ones.
So what do you think? Are these sacrifices that you’re willing to make? If they are, you’ll find that there are almost countless benefits and advantages that you can enjoy with your life as a real estate investor. Some of those include more time with your family, better income and a more fun career. So, are you ready to make a few sacrifices to get some serious rewards with your house-flipping business?