Do you dream of the day that you will finally quit your job and take on real estate investing full-time? You can speed to that goal by working with fix and flip lenders Philadelphia that can help you make the transition from job to investor. Sooner than you might think you could hire a marching band to parade through your office to the boss’s desk where you’ll declare, “I quit.”
Let’s look at making that transition from leaving a job, something that maybe you don’t want anymore but there’s still some comfort in having it, to fully involving yourself in real estate investing. How could the right lender help you with this transition?
Get your real estate business going
Have you completed a flip or two? It’s not going to happen if you’re still sitting on the couch watching house flipping shows on TV. Sure, it’s important to get motivated to invest in real estate and to get educated (YouTube, BiggerPockets, books… and of course this site is a great resource too).
But watching will only get you so far… you have to start doing deals and determine if you have what it takes to be a house flipper. Once you finish one project, see if you can do it again. And again. You’re going to need repeatable success to secure financing from fix and flip lenders Philadelphia.
Prepare for takeoff by building a cash runway
Leaving the security of a good-paying job to develop your business to the level at which it can support you and your family is going to be hard. A good way you can prepare for this transition is to build yourself a cash runway. Give yourself six months to get your business to really take-off. So before you leave your job, save up enough cash to cover your family’s living expenses for six months.
Work like your future depends on it (because it does!)
Be prepared to work like crazy when you make the transition. You’re going to have to work harder, longer hours than ever. You may have been good at finding deals, but now you need to develop a steady deal flow. The sequence of marketing, purchasing, rehabbing, and reselling needs to become more simultaneously managed. And all these deals needed to be funded.
At Legacy Capital, we’d like to consult with you and help you to see that ultimately the development of your business has little to do with houses. It has to do with processes and systems to secure deals, monetize them and get you out to do it over and over again.
Fix and flip lenders Philadelphia can help you transition from having a job to running a real estate investment business. At Legacy Capital, we want to do more than just finance your next flip. We want to provide you with reliable funding going forward, add value to your business and see you grow it to the next level. We’d like to see you join our growing list of entrepreneurs that have received the capital and confidence they required to leave their jobs and become investors.