VDI Insights: Jim Jumps

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I was listening to episode number three of the Value Driven Investor Podcast and it reminded me of the conversation I had yesterday with a guy by the name of Jim

I've been mentoring as he gets ready to leave his corporate job and make the jump into real estate investing. But more importantly, making the jump into a life on his terms.

And it's fascinating to watch this process because I've seen it over and over and over again.

It's been well over a year since we first started talking. The first conversation was, "Hey, Murph. I really want to get away from this corporate gig. I really want to control my destiny."

And I said, "oh, you want to have a life on your terms?"

"Yeah, yeah, that's what I want. I really have been watching everything that you've been doing, and I think real estate investing is a great vehicle for me. What do you think?"

I said, "yeah. I think real estate investing is a great vehicle for a lot of people for a lot of different reasons. But it's not easy. A life on your terms isn't easy. It's going to be a long road."

"Jim, the hardest thing you're going to have to do is change your mindset. You're going to have to have a complete mind shift."

18 months ago, Jim got his real estate license.

He got in the game.

He did his first deal, representing a buyer. He did his first deal representing a seller. And man, I can tell you, he has a different respect for real estate in general and for real estate agents.

He said, "Murph, you know what? I thought, this is going to be easy money. But there's a lot more that goes into this than I thought."

Now the crazy thing is just yesterday, we had another deep conversation and the deep conversation was about the fact that Jim was just let go from his W2 job.

I told him, yes, that's great.

"What, what are you talking about Murph?"

I said, "Jim, this is the perfect scenario. You just got, let go of a job that you probably wouldn't have quit because it was comfortable. It was a consistent paycheck."

"But the other kicker is you're getting a severance. So they're paying for you to make this transition, to make this mind shift. They're giving you six months of pay without you having to do anything for them. Now you have six months to do everything for you, six months to figure out life on your terms."

And so Jim, here we go.

Listen to the rest of Murph's story, and advice to Jim, in the Insights audio.