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What Path should I Take?

 
 
Reply Tue 5 Mar, 2024 11:08 am
Hey everyone, first post.

I am going to be as comprehensive as I can about my situation, and ask for some life advice from you people. My ask includes work, finances, and moving.

I am a 22 year old guy. I live with my parents, and have been a full time real estate agent since age 19. I see a trend where lot’s of young people get in the industry, and don’t make any money, but I have fortunately made ends meet. I have low expenses living at home, but expenses none the less. Rent, real estate license expenses, car, etc. I have about 25K net in savings currently. I’m preparing to take around 5-10K out to replace my Car as I drive for work and can’t drive a money pit any more.

I HATE where I live. Real estate is geographically significant however. My client’s are here. It’s dry, and cold, and dark where I live. Everything is dirty and nasty and cold. My family is messy and loud and invasive. My goal is to move like ASAP. I want to live out east by the beach in a beach town a couple hours away from where my brother lives. Moving will entail getting a new real estate license, learning the area, the state specific forms, new process, etc.

Real estate is tough because I am 100% commission. For the past 3 years I have been with organizations that took 60+% of my gross commission for mentoring, expenses, etc. My average paycheck was 5-7K. I just moved to a new company that essentially doubled my net income. My average check is now 10-11K.

So here’s the question. In an ideal world, I would like to start 2025 somewhere else, before the winter hits here. Which of these makes the most sense and why?

1. Move now. Get some BS minimum wage job, and make ends meet. Try and close out a couple active deals here and pocket some more, but largely take what I have and figure it out.

2. Wait here, and grow my savings account to ~100K. Scrap and save, sell stuff I don’t use, etc. In this new state, my estimate is that I will spend roughly 50K/year to maintain my current lifestyle. This will give me a year’s worth of prepaid expenses so I can focus on closing business the first year. I factored money to get my real estate license and business going, money to furnish an apartment, move my stuff, security deposit, emergency fund, etc., for the other 50K. I think 100k is a safe number that would give me the breathing room to start a commission based job elsewhere.

3. , the oddball answer. Instead of trying to save 100K, aim for 115K or more. Before moving my whole life to the beach town, take an extended period of time to travel the world. There are workaday programs that provide room and board and food for ~20 hours of work a week in hostels, farms, etc. I could very easily spend 6+ months traveling around Europe, the states, Eurasia, etc. I feel like this would be really the only time in my life I could make this happen, and it’s been a dream of mine. This would complicate the move (proving income for an apartment, licensing, etc., but I could figure it out.

So those are my ideas, but here’s the tricky thing. I would need to sell 2X the amount of houses as I did last year to make option 2 work, and would need to sell an additional 2 houses to make option 3 work. That seems pretty daunting.

Not to make this a sop story too, but I really am depressed here. I’m seeing a councilor, but getting up and having the motivation to hit those numbers just isn’t there. It seems like a stretch. Part of me thinks moving sooner will reignite my vigor for life and will motivate me to kick things into gear.

Any thoughts? Before wrapping up, I do just want to acknowledge how blessed I am to be in this position with these options. I know how privileged I am and how phenomenal my options are. I sometimes feel guilty for even complaining about my situation. Any advice?
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Mame
 
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Reply Tue 5 Mar, 2024 01:53 pm
Well only you can decide which option to take depending on what's at the top of your brain. Staying where you hate it (climate, family life) takes its toll. Moving to a new state will take its toll.

Is your home life that bad? Do you have to stay in real estate? Are there other options you have (or haven't) considered?

You're young enough to do whatever you want to do. You just need to figure it out. Good luck.
nolongerbound
 
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Reply Tue 5 Mar, 2024 02:43 pm
@Mame,
Thanks again. Great advice
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