Investing in Pensacola real estate on a full-time basis offers several advantages over a part-time commitment. Being successful requires you to develop knowledge in many aspects of real estate, and more time focused on real estate leads to greater knowledge.
The more you learn, the more you earn, since you do not need to rely on as many professional services or partners for help. You also learn to recognize a deal (or a dud) faster, which gives you more time to do more business or spend with your family.
As a full-time investor of Pensacola Real Estate, you work your own hours. When we say “full-time,” that may mean as little as twenty hours per week if you are good at finding deals. The rest of your time can be spent pursuing other vocations or hobbies.
One final point you should consider is whether you want to be “self-employed.” If you have always worked for someone else, being your own boss sounds very attractive. In some, respects, this isn’t quite the truth. Being your own boss means being an accountant, bookkeeper, stock clerk, receptionist, and office manager all in one.
Sound like fun?
It is… once you learn how to master your time and run your business. Being the master of your own life and career is well worth the other hassles of dealing with your own business.
The part-time person, who decides to invest in Pensacola real estate, holds a “regular job.” This may be by choice or for the time being until the Pensacola real estate ventures are bringing in enough cash to quit. If it is the latter, don’t quit your job because the real estate “guru” told you so. Quit your job when it is not worth the income that it brings you.
One of the advantages of starting out part time is that you can maintain cash flow while learning the business. It may take weeks or possibly months to find your first deal. That same deal may take several months to turn around, especially if you decide to fix it and sell it retail.
Of course, in today’s market, you could be laid off due to unforeseen circumstances. If you earn additional income flipping houses and invest the proceeds into rental properties, you will be covered if your main income is lost.
As with any education, time spent learning about real estate will bring its own rewards, especially if the people in your life understand your goals and your plan to achieve them.
To invest in Pensacola real estate it be treated with the seriousness of a career. It takes months, even years for a business to cultivate customers and have a life of its own. You need to treat it like any other business.
Investing in the real estate markets of Pensacola, Pensacola Beach and Perdido Key is well worth your education. Everyone needs a place to live and play. Please contact Dr. Cynthia Tant to get started investing in Pensacola real estate.