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Career vs Fastlane Advice..maybe both?

Aim for a job with more money(initially) or work at the RE firm?

  • Pick the accounting/finance job and better fund my fastlane

    Votes: 3 60.0%
  • Pick the RE job and fund my fastlane

    Votes: 1 20.0%
  • Doesn't matter as long as the fastlane biz is my ultimate focus

    Votes: 1 20.0%

  • Total voters
    5

Zenoviy Kovtun

Contributor
Jan 29, 2017
46
23
44
IL
Hi guys, need advice from some like minded people.

I'm a senior in college graduating in May with a degree in finance. I have over 1 yr. of accounting experience ; almost 2 by May. I'm also set to work at a commercial real estate firm upon graduation. For the record, I love RE(specifically multifamily) and I'm working with a partner to buy our first deal. More deals to come if this is successful.

I'm conflicted whether to work at the RE firm vs a regular accounting/ finance W-9 vs taking a more Fastlane approach. Or both?

The RE firm will pay about 15-20K less (initially) versus a accounting/finance role I can get with my experience. I'm not sure if it would be worth doing the RE role and getting less intial compensation? ( Although I love RE and this role would help me be more knowledgable to syndicate future deals with investors)

I am also working on creating an online marketing business and question whether taking the RE role, with less compensation upfront, may limit me working on my marketing business.

Any input or advice would be appreciated guys. I set up a poll as well. Thank you!
 

BeFound Faithful

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Dec 19, 2015
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Hi guys, need advice from some like minded people.

I'm a senior in college graduating in May with a degree in finance. I have over 1 yr. of accounting experience ; almost 2 by May. I'm also set to work at a commercial real estate firm upon graduation. For the record, I love RE(specifically multifamily) and I'm working with a partner to buy our first deal. More deals to come if this is successful.

I'm conflicted whether to work at the RE firm vs a regular accounting/ finance W-9 vs taking a more Fastlane approach. Or both?

The RE firm will pay about 15-20K less (initially) versus a accounting/finance role I can get with my experience. I'm not sure if it would be worth doing the RE role and getting less intial compensation? ( Although I love RE and this role would help me be more knowledgable to syndicate future deals with investors)

I am also working on creating an online marketing business and question whether taking the RE role, with less compensation upfront, may limit me working on my marketing business.

Any input or advice would be appreciated guys. I set up a poll as well. Thank you!

Going just by what you said, you seem more into the RE track. The RE job puts you in the game you enjoy (especially with your working on your first RE buy).

Here's a couple more thoughts:

Think about your longterm goals.
Depending on your answer, you might choose sacrificing now for down-the-road payoff and by being in the environment that will serve the future you envision.

Choose the right firm.
I was with Coldwell Banker and Keller Williams before going independent. Whether it's them or ReMax or Century 21, companies have very different philosophies. Choose the one that has the values that you want in your business.

Best to you!
 
OP
OP
Z

Zenoviy Kovtun

Contributor
Jan 29, 2017
46
23
44
IL
Going just by what you said, you seem more into the RE track. The RE job puts you in the game you enjoy (especially with your working on your first RE buy).

Here's a couple more thoughts:

Think about your longterm goals.
Depending on your answer, you might choose sacrificing now for down-the-road payoff and by being in the environment that will serve the future you envision.

Choose the right firm.
I was with Coldwell Banker and Keller Williams before going independent. Whether it's them or ReMax or Century 21, companies have very different philosophies. Choose the one that has the values that you want in your business.

Best to you!
I definitely enjoy the real estate path more. MJ mentions to not really follow your passion though. And I agree with that. Therefore I wonder, should I focus on the intial payoff, more so than down the road. Although, the payoff for the real estate firm will increase down the road.

And yes, accounting is boring when compared to my real estate ventures.

The ultimate goal is to be an investor/business owner.

Thank you guys for the replies so far!
 
OP
OP
Z

Zenoviy Kovtun

Contributor
Jan 29, 2017
46
23
44
IL
online marketing business? funding? lol

laptop $100 > boom you are up and running.
Let me be a bit more clear, yes, you are correct. Relatively low costs.

I should have clarified funding also for my side real estate pursuits. Although currently my partner is supplying more of the money, I hope to contribute more in the future.
 
OP
OP
Z

Zenoviy Kovtun

Contributor
Jan 29, 2017
46
23
44
IL
Let me be a bit more clear, yes, you are correct. Relatively low costs.

I should have clarified funding also for my side real estate pursuits. Although currently my partner is supplying more of the money, I hope to contribute more in the future.
Looks like everyone is leaning towards the RE path as it aligns with my long term goals.

Does anyone see the upside to the W-9 job instead? For example, the W-9 would allow me to potentially do a house hack right away, as opposed to the RE role which is a 1099, meaning I would need at least 2 yrs of income to do the house hack.
 

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
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Where do you see yourself in 10 years? Reverse engineer your decision back from there. No one here can tell you the right decision because to us, you're a stranger in a strange city. It's kinda like a doctor giving a diagnosis of illness based on age and weight only.
 

TheOwl8

Contributor
Dec 5, 2013
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71
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I'm a CPA. I don't know what you should do, but it terms of the accounting/finance job let me give you some info.

If you're straight out of college and going into an entry level position, you will be doing pure "grunt-work" for a few years. This is especially true if you're working for a larger firm. The mind numbing data crunching spreadsheets that no one else wants to do will be on your desk.

Unless you're looking into an accounting/finance career, I doubt you'll get much value out of this work other than a paycheck. You already studied accounting and finance so you have the basic skills which is great for an entrepreneur. Since you already understand accounting/finance, and if you're ultimate goal is entrepreneurship, working at an accounting firm probably won't do much to make you a better entrepreneur.
 
OP
OP
Z

Zenoviy Kovtun

Contributor
Jan 29, 2017
46
23
44
IL
Where do you see yourself in 10 years? Reverse engineer your decision back from there. No one here can tell you the right decision because to us, you're a stranger in a strange city. It's kinda like a doctor giving a diagnosis of illness based on age and weight only.
Thank you MJ. I completely understand. For one, I see myself having my time back within 10 years, and one way of getting that is by owning several hundred apartment units. I will reverse engineer my situation in greater detail, but I have an idea of what I need to do next. I need to focus on the longterm and as it pertains to this forum question, I know I must pursue the real estate route along with working on my fastlane business. Thank you again! Your books truly changed my whole perspective on business and I'm so grateful for this forum and your selflessness to us all.
 
OP
OP
Z

Zenoviy Kovtun

Contributor
Jan 29, 2017
46
23
44
IL
I'm a CPA. I don't know what you should do, but it terms of the accounting/finance job let me give you some info.

If you're straight out of college and going into an entry level position, you will be doing pure "grunt-work" for a few years. This is especially true if you're working for a larger firm. The mind numbing data crunching spreadsheets that no one else wants to do will be on your desk.

Unless you're looking into an accounting/finance career, I doubt you'll get much value out of this work other than a paycheck. You already studied accounting and finance so you have the basic skills which is great for an entrepreneur. Since you already understand accounting/finance, and if you're ultimate goal is entrepreneurship, working at an accounting firm probably won't do much to make you a better entrepreneur.
Definitely agree! I already do the mind dumbing data crunching in my current role. Thank you for your feedback!
 

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