When do I Become a Full Time Real Estate Investor?

Get Real, the Real Estate Investing Show for the Rest of Us spoke with Sharon Restrepo this week to answer the very important question, “When can I become a full time real estate investor?” With so many people thinking about or getting involved in real estate investing some may make the leap before it is time.

For many real estate investing may be a lucrative business or a well paying past time. Deciding to become a full time real estate investor may turn foreclosure fortunes into household headaches. Sharon Restrepo from REIP the Rewards shared her thoughts on going full time in real estate investing. Among other things Restrepo recommends a holistic approach. “If you have a family you will need the support of your significant other or you are sunk” she extols.

Other things to consider when making a career change are issues such as your financial situation and whether you can support yourself during the ups and downs of real estate investing. Sharon explained that income is not always a constant when working the foreclosure and pre-foreclosure market. On top of this many mortgage lenders need to see two years of experience before lending at the most preferred rates to full time real estate investors.

Many first time real estate investors are venturing into the self employment world for the first time buying and selling homes. Sharon cautions that not only do real estate entrepreneur need to be good at spotting a good deal they need to be able to manage themselves and their business. She went on to say that real estate investing is a business and needs to be treated like any other small to medium sized business or the venture is in for rough sailing.

To listen to this week’s show featuring Ms. Restrepo go directly to www.getrealrei.com and choose the “Latest Podcasts” tab.

Get Real is a top 25 iTunes business podcast and the nation’s leading weekly real estate investing podcast that can be heard at www.getrealrei.com , through a news reader at http://feeds.feedburner.com/GetrealREI or by searching for “get real real estate investing” through iTunes. The Husband and wife duo provides a down-to-earth, real world view of real estate investing for current and future real estate entrepreneurs.