Keeping a High Earning W2 in a Recession?

Jonathan: I have over $400,000 in a 401k that can be rolled into an SD IRA. He has about 30k in cash and expecting another 40 to 50k in performance bonus coming. Jonathan says he likes the idea of keeping a high earning W2 when we're going into a bad economy. "I really think you and other people need to look at what is your skill set," David adds.

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Want to quit your job for real estate? Not so fast. Trading your steady W2 for rental properties could be a risk that isn’t worth taking in 2023. But why? Isn’t the point of property investing to reach financial freedom and leave your W2 behind? Stick around for the full perspective from expert investor David Greene. His advice could save you money and time when deciding whether or not staying at your job is the right move to make!

Welcome back to another episode of Seeing Greene, where your favorite agent, broker, Batman-voice-impersonator, and podcast host, David Greene, answers your most-asked questions on real estate investing! This time around, we hear from a new investor who wants to know the best real estate side hustles, a mid-career worker who’s undecided on how he should best use his cash to invest, and we even receive a call all the way from New Zealand on how to pick the best real estate market. David also goes deep into why outsourcing is SO challenging (at first), where the BRRRR method WON’T work, and the problem with coaching programs.

Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot!

In This Episode We Cover:

The best real estate side hustles for investors who want some extra cash

What you need to know BEFORE you quit your job to invest full-time

Real estate market research and the best cities to invest for cash flow

Scaling your business and your portfolio and the secret to outsourcing work

Why the BRRRR method WON’T work in certain rental markets

Appreciation vs. cash flow markets and when to pick one over the other

Whether to buy more rentals, invest in syndications, or put up cash for a coaching program

And So Much More!

Links from the Show

Find an Investor-Friendly Real Estate Agent

BiggerPockets Youtube Channel