Hello, i'm not new to the forum but i have been gone a while and i have a tough decision on whether to pursue Mortgage Loan Officer job or try scaling a business somehow. Since loan officers work more than 40 hours per week earn on avg and earn about 70k a year or so i figure i could work that and use disposable income to buy more rental properties since i currently only have one.
Or should i say forget working tons of hours for someone else, i might as well build a business that provides value and work for side hustles like doordash on the side?
Hey Seth. So I'm in a similar position, but real estate is actually my side gig (doing sales as a realtor). My main gig is designing apps (UI/UX).
My personal opinion is that you shouldn't leave your day job until you have some level of success. What does that mean? A certain amount of money, so when you devote more time to it you can scale it up and replace your income. Or maybe that means once you get product-market fit, and you can find investors and scale/build from there.
I suppose it also depends on how much you have in savings.
And I wouldn't quit just to quit. Quit to do something you'd like to do. "Working for somebody else" is okay if it funds your passion project/side hustle. But then keep in mind you're working nights and weekends.
Do you have any ideas for businesses you'd like to start? Or anything in motion already?