There are pros and cons to being an entrepreneur.
One thing that is definitely a challenge about entrepreneurship is there’s no guarantee as to how you’re going to get paid next.
However, you soon realize that you're directly in control of the money that comes into your pocket. So while there's no safety net, there is also the potential to go up higher. You start to realize and trust yourself, so this can be both a pro and a con.
The biggest pro to being an entrepreneur is that you work for yourself, under your own terms. If you do it right, your income potential is basically unlimited, whereas, if you have a job, you are trading time for money. You sacrifice freedom.
But getting to that point as an entrepreneur is challenging.
Social media gives the impression of instant gratification. You see someone who starts trading and all of a sudden, he’s a millionaire. The reality is, is he’s putting in a lot of time, a lot of effort beneath the surface.
People underestimate how long it can take to get to the gold, to the point where you're actually making a decent amount of money. It isn’t instant gratification.
On the one hand, people crave security and having a W-2 job seems lie stability. But many people have gotten laid off or fired for no reason at all, even after many years of service. So it's kind of a false sense of security. But people think it's more secure.
As an entrepreneur, it takes a while to break through. You make $2,000 a month here, nothing the next month, nothing the next, and then you make $2000. It takes a while and you have to be able to stick with it.
But if you compare real estate to almost any other business, breaking into real estate is significantly easier.
There are so many resources out there available to you. There's a learning curve with any business but you can significantly minimize that through things like a mentorship
It's not only scalable, but it's easily translatable. So you can learn to speak the language of multifamily. Everyone is multifamily is speaking that language, so there’s definitely a faster process to real estate.