I began in real estate a while back and I was doing ok because I had a job as a pharmacist. Then when I went to become a Realtor I did it gradually, and my income from real estate was just bonus. However, I eventually phased out the pharmacy job because of tunnel syndrome in both of my arms and used savings rather than the steady paycheck as my security. Over the winter I took a huge hit with the transition market and I feel that every transaction counts in surviving. I'd love to know how others are doing. I went from 1 year's income in savings to 6 months income (I did pay off my student loans though!) I'm new to blogging so be gentle with the comments. Hey, I'm not using all CAPs ok!
Are you planning to stay in Real Estate after this year?
If things continue to be tough for some of you what are your plans outside of real estate as a back up? Do you have something you want to do or have to do if you are throwing in the towel?
For those of you that have been in this market before, what advice do you have to those that have been in this business for 5 years or less?
While I've been buying and selling homes for 10 years because my income wasn't attached to the real estate market I was oblivious to the ups and downs. Any good advice?
Whom do you turn to for advice in a time where it seems like it's everyone for themselves?
Although I can turn to my business coach for some advice it's really tough because her income is tied to me staying in the business and the program and it would be tough for her to say, it's time to get out of the business. It's not that the referrals have changed, I work twice as hard to get just as many it's that 2 years ago I closed 3.5 transactions for every 4 I received and now I can close 1 transaction with every 4 I receive.
I'd love to hear your thoughts!
Tony Guerra
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I just came full time last October and there is no looking back. I slowly made a transition from my other job as well and it has turned out great. Some seasoned agents here are not doing as well, basically because they are waiting for things to fall in their lap like it has the past few years. But I am young and really hustling, so things are good, and I plan to be in this business a very long time. You should supplement your incoming by investing your savings, perhaps in Real Estate! As for a place to turn for non-biased advice, your already there buddy - ActiveRain is the best! Good post - work hard.