As any person knows, quitting your full-time job is a huge risk. On top of that one may try to become a full-time investor which adds on to the risk. Even if you feel successful there are many ups, and downs to it. A former full-time employed worker, and now investor, Lane Kawaoka talks about his experience quitting his job as an engineer, and becoming a real estate investor.
Lane mentions that one of the things that motivated his risky decision was that he simply didn’t like his job. Even though he had a $100,000 salary, he realized he wanted more out of life. Despite his distaste for his job, it was the factor that led him to become a landlord, and future investor.
In the beginning, because Lane Kawaoka was 100% traveling with his job, he rented his residence and immediately was making money on his mortgage. The rent he was generating was netting him a profit of $600 per month. This was the beginning of realizing the beauty of passive income.
Soon after, he would build a team to assist him in investing in property all over the US, from California to Florida. Then he could make the decision between his day job, and quitting to focus on being a full-time investor.
Lane then mentions that the hardest part of making this decision is fear. The fear of losing the things you already have, and can he go without losing these things, and what things he can lose. In his case he was already taking the steps to reach his goals, and was fine with taking these risks, and losses. Eventually he would build a steady flow of passive investing making him into the successful investor he is today.
Lane Kawaoka has some tips about turning real-estate investing into your primary income. #Ironclad
Key Points:
- 1The property manager to me is the most important team member.
- 2You need to be able to quality for financing in order to increase your portfolio.
- 3Know your numbers, how much income do you need monthly and what percentage of increase is that in your current passive income.
