Need a little help guys...

Brian Hamilton · 19th May 2009, 11:13 AM

Hey guys,
April and I were talking yesterday and we really REALLY want a house (we live in a trailer house that's constantly being repaired and we can afford a house on her salary alone). Now, we do have a little bit of a personal problem in the fact that, me, Brian isn't making any money. Another problem is that there's nothing for me to do up here really. I mean, there's no friggin jobs here that I'm qualified for (overqualified is more like it) other than working at a dealership which might get the axe in who knows how long. I'm scared. I don't know what to do. I need advise. We are living on April's income alone, and if something were to happen to her, we're screwed. Now we're looking at starting a family in September (trying to get pregnant) and it's really scaring me. Not the whole kid thing, but the fact I'm not really a contributing member of the household. When April has the kid and is out for who knows how long, then what?

On the same train of thought, I have like $50M worth of listings, but none of them are moving. Knowing my luck, the second I leave here, someone will sell one of my big listings and make off with $100k, or much more. That would friggin destroy me. Not only because I've failed yet again, but because if I'd stuck it out one more week or one more month, I'd have made it. Know what I mean? There's always that little voice that says, "Stick with it" but it's getting harder.

April made a point yesterday when we were talking, and that was, "Honey, you've been trying to make big money for 3 years and all you've ended up with is no money. When is it going to stop?"

I don't know if she means, "when are you going to stop chasing dreams" or "when are you going to quit dreaming and get a real friggin job"? I need an honest opinion on what you think. Should I stick it out a little longer, or should I just give up the ghost and get a job at friggin Advanced Auto Parts or something and make $7 an hour for the rest of my life? I've always been that guy who's looked for bigger and better things and nothing can stop me from becoming successful, but I'm on the edge of being a broken man. My spirit is fractured and I just don't know how much longer I can take failure before it is just too much and I have to quit trying.

What do you think?

Laters,

Brian

The Baron · 19th May 2009, 11:25 AM

Hang in there. Latest figures I saw this morning suggested that the US property market is showing glimpses of recovery interms of loans applied for etc... I think you over there will be on the up a long time before us. Some of the US banks are bouncing back too and even GM was up at close last night!

Dig in and hang on mate.... Better the Devil you Know etc.... If it's injured male pride you're worried about - don't be. You'll be back...

Jack · 19th May 2009, 11:42 AM

Why can't you do both? Full time job and side real estate business...

Brian Hamilton · 19th May 2009, 11:45 AM

Quote:

Originally Posted by molleur

Why can't you do both? Full time job and side real estate business...

My broker won't let me. Says that he doesn't allow people to do this part time. It's an all or nothing deal.

Jack · 19th May 2009, 11:48 AM

I would tend to stick with it then...and try to keep the peace..

Ron Earp · 19th May 2009, 11:50 AM

My advice, which is worth little, is to get out there and get a job. Now. Having a job will open up opportunities and situations that you will not be exposed to otherwise. It gives you valuable experience to build upon for your next job. And there will always be a next job no matter what you think.<o:p></o:p>
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You can still chase plans for being an entrepreneur on the side. You may be able to continue your real estate job (or a different real estate job) while having another job. Most folks I know that were successful with their own plans maintained a job first and developed their entrepreneur business second. At some point you’ll know when to go full time into the entrepreneur side of things and quit the first job. You can always be looking and developing bigger and better things but you’ve also got to eat, pay bills, and get on with life too.<o:p></o:p>
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If you’re thinking about starting a family the practicalities of life need to be placed first and foremost.<o:p></o:p>
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Jack · 19th May 2009, 12:07 PM

Sage advice Ron. "Family first"
My first instinct was to advise Brian to do both, with the real estate business playing a secondary role. When Brian said part time "was not allowed" by his broker it made me wonder if he should hang in there a bit longer. Essentially, any entrepreneural venture presents a time to make the big decision if it is successful.

My final words on this are precisely yours "family first". Do what you have to do and the rest will take care of itself in time. Keep the spirit!

Frank Catt · 19th May 2009, 12:21 PM

I totally agree with Ron, I know a lot of guys holding out for the big bucks job, hoping to replace the job and income they had before the crash, particularly in the financial markets. The problem is that for every week out of the loop you go further and further down the line as a desirable employee for businesses looking for people with current experience. better a permanent job for 100 a week than a job for 200 a week for just a month, or the hope of a 1000 deal that might never happen.

Brian Hamilton · 19th May 2009, 12:25 PM

I just went and filled out an application for the local "Head Hunters". I almost laughed at the job openings in the area.

Speech Therapist - Masters Degree required

Electrician - State License required

Accountant

Receptionist

THAT'S IT!!!

Wow, I think I may be screwed fellas.

Ron Earp · 19th May 2009, 12:44 PM

Well, that is all that place has. I think you'll find the best jobs from hoofing it on your own and making contacts. Those jobs are easy to get, being held by a temp agency, so they aren't going to be the best jobs available. IMHO. I only use a temp agency when I hire for exactly what the title says - temporary jobs where I don't want to invest company resources for the long haul. Look harder. Finding a job IS work and a skill all in itself.

Jack · 19th May 2009, 01:32 PM

Do your own "hunting" Brian, a lot of research too. Is there any "need" for an off the wall business in your area? If you can't find something, maybe you can create a business to fill a need in your part of the woods...

Brian Hamilton · 19th May 2009, 03:29 PM

Yeah, I've been looking around. Starting a business requires startup capitol, and again I'm broke. LOL I just think mainly everything's just weighing on me so much the past few days & weeks that I'm almost to the snapping point. Not to do anything drastic to harm myself or anyone by any means, don't take it that way, but just to the snapping point of being an ambitious "go getter".

It just seems that the harder I try to change my life and my way of living for the better, i.e. more money, I always seem to fail. I'm not diggin that trend. LOL There's lots of successful people on this board, what advice do you have?

Ron Earp · 19th May 2009, 04:06 PM

Quote:

Originally Posted by Conquest351

It just seems that the harder I try to change my life and my way of living for the better, i.e. more money, I always seem to fail.

Realize first that living for the better doesn't have much to do with money. You're focusing too much on money. Focus on your development, doing something that you love, and the money will follow.

The first job I took directly out of school was the first job I could find. I was lucky to get it and it took me about six weeks of full time six to eight hours a day job hunting/interviewing to secure the job. For this particular job I was offered about 75% less than what other scientists were making elsewhere, the hours were lengthy, but at least it was a job. I liked the work, liked the people.

Taking that job took a lot of pride swallowing on the money side but it opened up doors for me that allowed me to get to where I wanted to be. And, after time in that position and me working other projects in the background while holding that one down I knew when it was time to leap off into my own thing.

Rick S. · 19th May 2009, 06:42 PM

I would recommend joining LinkedIn: Relationships Matter. Join groups that you are familiar with, network with those folks. I am sure that there are multiple real estate groups, and whatever else you are interested in. In the groups I belong to there are pretty high caliber job listings commonly added every day or so.

And I can be your first connection!

r

Chad · 19th May 2009, 07:16 PM

I'm not sure if you have a degree or not, but is going back to school an option? You seem like you would be a very good engineer. And it seems that you would enjoy it too.

If school is too expensive, there are many routes to go in which to get free education. My wife and I started having kids before either of us graduated. I had to work for the Navy to get them to pay for my bachelor's degree. We were dirt poor for a while, but we made it through.

Many engineering companies will also pay for grad school (night classes). This is the route I'm taking.

Steve C · 19th May 2009, 08:36 PM

Brian,

Like Chad's story above the NAVY paid for my engineering degree and I gave 6 yrs back but I had a great experience as an engineer on a nuclear sub and am now VP of my company. We are Manufacturers Representatives designing and selling the products of the companies we represent exclusively (read no competition from other sales agents of the same companies) in our New England territory.

There are lots of opportunities but, nothing comes easy.

I would be suspect of your present employer if he doesn't understand your present situation and if you are a valued employee he should be helping you through this dry period or at least allowing you to supplement your income while you still work for him (something about the situation doesn't smell right).

Good luck to you.

Steve

Freewheel · 19th May 2009, 10:49 PM

Brian,

Stick with it, but put as much energy as you can into getting something else. When you go, leave it all behind.

I was given the boot just before Easter. I'm about to go interstate to try a new job, but that means 3-6 months away from home before deciding whether to buy/sell. Not ideal, but better than the last month or so.

In fact, if I hadn't still had access to my old, old employer's web server I wouldn't even be on here anymore, but I'm one of the lucky ones.

Gregg · 19th May 2009, 11:13 PM

Brian, what type of agreement do you have with your present employer? Do you have a non compete or are there other regulations or ethical issues you must comply with which would prevent you from leaving your present employer and taking your listings with you? If you could take your client's or advise them that you are leaving with the hopes of them following you, could you get a part time job at another realtor's office who will let you work outside the firm to make some money? Are your big listings on multiple list or are they exclusive to your present office? If they are on multiple, you could still sell them from another agency. Yes, the commission would be lower if a deal ever closes, however, if your new employer allows you to work part time, you would be able to provide for the family in the interim and still try for the big sale. My half a penny (adjusted for current economic value). Good luck.

Cliff Beer · 20th May 2009, 07:07 AM

Tough situation Brian. As much as kids are a wonderful addition, it's best to have finances somewhat in order before having kiddos. Having a good 6-12 months of living expenses in the bank is just prudent in case something unforeseen happens - somebody loses a job, complications with the baby, unanticipated medical expenses, etc. If you think you're under stress right now, just wait until you have a baby's needs added to the picture! I've got four young kids so I'm plenty familiar with these pressures and it's both time and money, not just one or the other.

Perhaps you and your wife can come up with a plan that gets you to where you want to be. Maybe you can look for work elsewhere and do a higher paying job on a seasonal basis for a bit (Alaska??). Save up a little money first. You never know, your job in a different location may lead to better economics than you both have presently in the current locale/situation.

As my old man used to say "it's better doing something going somewhere than doing nothing going nowhere!"

Kevin L · 20th May 2009, 09:24 AM

Brian, my advise (worth as much as it cost) is to find a new job that pays consistently and go to school in the evenings.

Here is my reasoning - At this point the commercial real-estate market is not in a good place. The market is now looking at commercial the way it did residential 1-2 years ago. In my opinion there is just too much supply out there and the buyers are not willing to drop prices enough to move it, that is why you have $50M in listings and no sales. Therefore only the brokers that have a lot of connections and years of history in will be able to move their listings, and even then they are hurting. I believe this will continue until banks and investment firms start dumping their assets on the market driving prices down further which will only reduce how effective you can be as a commercial real-estate broker. I think it is going to be very hard to sell anything for the next 2-5 years. If you can hold out this long (with the occasional small sale) I vote to stay in commercial. If you cannot hold out that long you should get take some type of job that has an interest to you even if it is not perfect.

I have no idea what your educational background is but if you do not have a higher education I think you should look into getting one. Start with an associates degree at night (if you do not have one) and work your way to a bachelors. Use community colleges and scholarships to get schooling paid for. Try to focus on a degree that provides you a certification like a CPA, engineering certification, or other professional degree (shy away from a business management degree). Having a certification provides some direction for that first job out of the higher education where a degree like business management can be ambiguous. It is going to be a long road but if you are looking for something that will provide over the next 20 years you will need to build a network and build a specialty that you can shop around. If you do not have the desire to go to school then get a job that has some upward potential over the next 5 years. A commercial real-estate broker used to be (and will again some day) be a great potential job but I do not think it is going to be big paying for at least 2 years.

A quick read is a book called "Outliers"; great book that details how very successful people came to be. Ultimate it came down to hard work, education, hard work, and luck. You influence three of those and hope for the best on the fourth; unfortunately it is not a quick solution.

Kevin