Burn Your Ships? I Don’t Think So!

cash flow real estate investingJobs are awesome.

Having a job is one of the greatest benefits you can have while you’re starting a business. Especially a real estate business that takes some time to ramp up.

The reason is, as I discussed in the last post, is because a job serves as a safety net.

You have a source of income coming in. You can put food on the table, pay your mortgage or rent, and put gas in your car.

All while you’re building a business of your own on the side.

How cool is that?

I know I know. There’s a whole other school of thought out there that says you should cut bait on the whole job thing and jump into business full time.

Kind of like the Spanish Conquistador Hernando Cortez did when he burned his ships after he had landed in the new world so his men would be “well motivated”.

And that worked great for Cortez. He went on to conquer the Aztecs and steal all of their gold.

But this isn’t 1519. We’re not conquistadors. And this isn’t the “new world”.

Quite the contrary. We have families to feed. Bills to pay. And a ton of other commitments.

So having a job, and working hard at it, gives us the best of both worlds.

It helps us take care of our families, and it also gives us a safety net as we strike out on our own.

The challenge though, as I have seen, is keeping the two worlds separate.

And this is critical.

Because while it’s perfectly ok to build your own business on your own time, it’s not ok to let your business encroach on your work time.

I’ve seen way too many examples of folks using work time to build their business. They use their work email, which is job suicide; they use work supplies; and they use work time.

And it always catches up to them.

In my book that’s a small price to pay to double dip!

How do you manage having a job while you’r building your business?

Dennis is an active real estate investor based in Metro Detroit.

In addition to his day job, at present he holds a portfolio of rental houses and he's an active wholesaler who has closed deals in real estate markets throughout the country.

He's also a published author of a book on rental house investing called "How to Buy Your First Set and Forget Rental House", and has trained over 1000 new real estate investors on how to get started with real estate.

You can reach him directly at dennis at dennisfassett dot com