Navigating Career Transitions in Real Estate

This chapter explores the challenges and considerations of transitioning to a career as a real estate agent, highlighting the personal journey of an individual making the change. The speakers stress the necessity of financial stability and previous real estate experience, while encouraging listeners to explore side opportunities alongside their current jobs.

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Alex Preziosi wants to reach financial independence by the age of forty-five, and with several hundred thousand dollars in retirement accounts, brokerage accounts, and savings, she’s on pace to do just that. But now, she’s thinking about quitting her W2 job. Can she still hit her FI goal? Today’s guest has good problems, but problems, nonetheless!

Welcome back to the BiggerPockets Money podcast! Since we last spoke with Alex, she has made two major leaps on her journey to financial independence. First, she has taken up house hacking, which pays for most of her mortgage in an expensive area of the US. But that’s not all. She has also grown her side hustle as a real estate agent into a full-fledged business, where she now earns more than she does at her W2 job! These moves have only widened the gap between her income and her expenses, and, as a result, she’s sitting on an even bigger pile of cash.

Now, Alex finds herself at yet another crossroads. Is her W2 holding her back? Should she pursue full-time entrepreneurship while she has such a strong cash position? Stay tuned as we dive into the numbers and try to figure out Alex’s best path to FI by forty-five!

In This Episode We Cover

The best path for Alex to reach financial independence by forty-five

When to leave your W2 job and pursue full-time entrepreneurship

How to lower (or eliminate!) your housing cost with the house hacking strategy

Where to invest a large amount of cash (stock market versus real estate)

Tax strategies that could help you save a fortune over your lifetime

And So Much More!

Links from the Show

Mindy on BiggerPockets

Scott on BiggerPockets

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