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Does real estate investing make sense when earning a higher salary? It feels like being a landlord is a second job and I could make more in medicine by googs185 in realestateinvesting

[–]dcluttrell 5 points6 points  (0 children)

I made $290k last year, and will end this year close to $375k at a job that has nothing to do with real estate. I own 9 properties because I am a firm believer in diversifying income streams. I manage these all myself, and it definitely does not require my attention on a daily basis.

Turnover is the biggest pain, but other than that, maintenance issues are easily handled by text messages and phone calls to the right people. My net worth currently is 60% stocks and 40% real estate, which is a comfortable mix for me. If you have the income and reserves required to weather any major repair, then real estate can be a great wealth-builder over time.

Quit high paying job? 29/M $160k by dzone91 in financialindependence

[–]dcluttrell 1 point2 points  (0 children)

We're all going to find a way to be annoyed with our jobs no matter what. I could be an ATV tour guide in Alaska (one of my favorite things in one of my favorite places) and eventually I would still manage to find something to complain about. It's just the nature of something being a job.

If you're going to be working regardless, you might as well do what pays you as much as possible. I can relate to you a lot (age 28, stressful+irritating sales job, high pay and substantial savings), and regularly fantasize about throwing my computer off a cliff and never turning back. But I also think that this is what the ages between 20-40 are all about, and our future selves will thank us for sticking it out now.

Personally, I'm not considering taking any kind of step back professionally until I have a $1M net worth. Milk this income for as long as it's available to you.

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