18d • General discussion
Changing careers
I got my start in IT the 1990s. I learned and grew into bigger roles. I ran endpoint security for a fortune 500 company. And then I moved up to a Fortune one company consulting to their endpoint security architectural update for 320,000 nodes. But then two years working for the world’s largest dedicated security company broke me. I sustained a serious back injury from working 100 hours a week to meet a deadline. Then that company got bought out by private equity and started laying off in droves. Luckily a friend of mine dusted me off and put me back to work and I got debt free. However that consulting work would end badly when I was terminated illegally. I had no idea how bad the white collar recession was until I had to try to find a job in it. 1000 applications and counting.
The whole time I was working in IT I was also accumulating real estate. After my injury (that insurance would not cover) and workers comp had expired (in just one year in Texas), I was scared because I couldn’t take care of the buildings myself and with 25 units and having a property manager in each of three states was unwieldy. Especially when they steal from you. So I sold all of the real estate and luckily I have a small income. Still it’s not enough to properly provide for my wife and I which is embarrassing.
So I’m probably leaving IT security for more passive income source. I found a property near me that is actually a six unit RV park. The price is right and since it is USDA rural I can get it with no money down. My banker was out on Friday because his wife is having a baby and it will be their third child.
I think this approach is going to work better for me because sitting at a computer(standing, yoga ball) for so long has taken its toll. Thankfully I have the real estate investment experience and luckily somehow my credit is still quite good. So here’s to hoping. I think after expenses this property should bring in about $2000 per month. And that plus my small residual income should be enough for my wife and I to live comfortably in Bali if we want to. Absolutely fell in love with that place… And then with her :)
Nice to meet you all and thanks to Jason for creating this space. Hopefully I’ll pick up some other good ideas and share whatever I can.
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Changing careers
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