Before you quit your job, you’ll need to do a few crucial things. If you haven’t done these yet, but are strongly considering leaving your job soon, Henry Washington and Rob Abasolo may advise you to wait it out a bit longer. Quitting your job is a big decision, especially if your family relies on the income that you’re bringing in. The good news is, that if you’re prepared, you can walk away making much more than you did at your W2. But, if you aren’t, you could simply be taking a breather in between jobs, instead of building a life you love and ruling your schedule.
Henry and Rob both have eerily similar quitting stories. They both quit during the same month of the same year, making the same salary all while building a real estate investment portfolio in the background. While Henry is more of a multifamily investing man, Rob has taken the short-term rental route to build his wealth. Both men have left the cushy healthcare-provided and retirement-matching lifestyles to build something much bigger not only for themselves but their families and employees.
If you’ve wondered “when should I quit my job” or “is now the right time to go full-time into real estate investing?” then this episode is a prerequisite for you. Henry and Rob go over the four things you need to know BEFORE you quit, things to be aware of as a full-time entrepreneur, how to handle taxes and healthcare, and some actionable tips for when you’re finally ready to take the plunge into full-time investing.
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Hear Our Interview with Jason Drees on Exceeding Your Goals:
https://www.biggerpockets.com/blog/real-estate-601?utm_source=youtube&utm_medium=description&utm_campaign=none
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Should You Quit Your 9-5 Job to Become a Full-Time Real Estate Investor?
https://www.biggerpockets.com/blog/should-you-quit-your-9-5-job-for-real-estate?utm_source=youtube&utm_medium=description&utm_campaign=none
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10 Challenges to Seriously Consider BEFORE Quitting Your Day Job:
https://www.biggerpockets.com/blog/10-challenges-quitting-day-job?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Rob (Robuilt) on Youtube, Instagram, Tiktok, and Twitter:
Youtube: https://www.youtube.com/c/Robuilt
Instagram: https://www.instagram.com/robuilt/
TikTok: https://www.tiktok.com/@robuilto
Twitter: https://mobile.twitter.com/robuiltchannel
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Follow Henry on Instagram:
@thehenrywashington or https://www.instagram.com/thehenrywashington/
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Connect with Henry and Rob on BiggerPockets:
Henry:
https://www.biggerpockets.com/users/henryw22?utm_source=youtube&utm_medium=description&utm_campaign=none
Rob: https://www.biggerpockets.com/users/robuilt?utm_source=youtube&utm_medium=description&utm_campaign=none
Episode 628
Show notes at: https://www.biggerpockets.com/blog/real-estate-628?utm_source=youtube&utm_medium=description&utm_campaign=none
00:00 Intro
03:20 Quick Tip
04:31 Leaving Behind Six-Figure Salaries
15:26 4 Things You Need BEFORE You Quit Your Job
28:11 What to Be Aware of Before You Quit
37:22 Building a Team and Investing at Scale
47:50 Taxes, Taxes, Taxes
52:38 Tips to Become a Full-Time Investor
01:12:46 Connect with Henry and Rob!
#biggerpockets #realestatepodcast #ep628
