When I first started investing in 1979, I had a job as an assistant hospital administrator in Pittsburgh that ended with my  essentially being fired.  In the early 80’s the prospect of losing my job and starving to death concerned me.  In general, I was a fearful person -THEN.  As previously noted, I had determined in 1979 never to count on a job for financial  independence.

Fear Not – Confidence Comforted Me

The wisdom of this decision was reinforced in late 1987, when I had to resign   from my city of Chicago position.  One of the requirements of that job was that I actually  reside within the city boundaries.  When I applied for the job I was a city resident, but I  moved to the suburbs after I had been hired.  Someone tipped off the Office of Municipal  Investigations, and they spent a year following me.

I was less despondent this time than I had been when previous jobs had terminated.  The  success of the first few buildings  helped raise my self-confidence, and I  no longer dreaded the  future.

Deciding to Become An Full-Time Investor

My wife had often told me that things always work out for the best.   The equity gain in  less than three years on the second building that I purchased (about $160,000) more than doubled the amount of  money I would have made had I stayed in my job at the Chicago Hospital Council, not even counting tax and Social Security withholdings.

Of course, in fairness, real estate equity does not  put bread on the table – only cash flow does that. In any case, I did not attempt to look for another job.  I would never again work as an  employee. My situation was helped by my wife’s having a good job with health benefits.   And I  did  some consulting work for about a year after I left my job with the city.

Most importantly, I continued to pursue real estate acquisitions.  The source of my funding was the equity in the four-unit building and the six-unit building in Chicago.  While I was doing consulting, I identified two more properties with potential.

There will come a time, when you will decide whether by choice or force of hand to become a full time real estate investor. Embrace it.

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