How Can I Make Enough Money to Quit My Job?
I’m Ted Thomas, and I’ve been without a job and a boss for decades. Today, I’m going to answer your question, “ How can I make enough money to quit my job?”
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How Can I Make Enough Money to Quit My Job?
Living Paycheck to Paycheck
A recent survey by the American Payroll Association was very revealing. Their survey claimed that 7 out of 10 workers would have a hard time making ends meet if their payroll checks were delayed by just one week.
How about that? Wow! If you are planning to be a freelancer or a self-employed entrepreneur in the near future, you’ll need a bundle of reserve money in the bank.
How Can I Make Enough Money to Quit My Job?
Try to Work Things Out With Your Current Employer
Maybe you’re saying, “I feel like quitting my job everyday. My job is killing me, but I can’t afford to quit.” Here’s what to do when you can’t afford to leave your job. It would be an understatement to say try to fix your job before you quit.
Your first step should be to talk to your boss or manager before you reach a breaking point. There’s plenty of room to improve situations if you are still talking.
Maybe you’ll work from home. Or maybe you’ll take an extended leave of absence or possibly new training is required for you to do better and more complex work.
There’s always a possibility of more money, but maybe it’s going to be less money.
Ask yourself this question, if you get everything you want, will you be happy? Give that serious thought.
How Can I Make Enough Money to Quit My Job?
Assess Your Financial Situation
Here’s how to make a plan to quit your job. Before you do anything, figure out a timetable, some sort of schedule that allows you to figure out what your financial situation is.
Should you consider part time? Or maybe you’re considering using your skills as a freelancer, or your old employer would employ you.
Of course, it always sounds better if you’re a part time consultant compared to being a freelancer. However, as you expect and transition from working for others to freelancer or entrepreneur, it is going to be a bumpy ride.
How Can I Make Enough Money to Quit My Job?
Assess Your Goals
What’s your objective? Do you have a goal? For sure, everyone wants to get rid of the boss. I can assure you that’s the easy part of what you’re doing.
Have you made arrangements for revenue from other sources? Ask yourself, “How much money should I save before I quit my job?” Do you have freelance gigs? Where is revenue coming from?
You’re here because you want to know, “How can I quit my job and make a lot of money?”
How Can I Make Enough Money to Quit My Job?
Don’t Buy the Hype
The newspapers and bloggers create stories, and the internet is full of hype and sales presentations. They all discuss the easy life for the entrepreneur.
Don’t be seduced into believing it’s going to be easy and the internet lifestyle is at the beach every afternoon. The checkbook is a tough boss.
I’m not going to sugarcoat freelancing or entrepreneurship. Quitting your job means you’ll probably go from 40 hours a week working for a boss to 50 or 60 hours a week on your own time.
How Can I Make Enough Money to Quit My Job?
Leverage Your Skills
Leverage. Think about how to leverage your skills. What crafts and what professional training do you have? What problems can you solve for others?
The transition can be less bumpy if you have a plan or more importantly, have income or reserves.
Maybe you need six months of savings. It could be 12 months, I don’t know, but you’d better figure it out.
How Can I Make Enough Money to Quit My Job?
My Discovery
My name is Ted Thomas, and for 30 years, I’ve been an entrepreneur working from home because I discovered a little-known and highly lucrative subset of the traditional real estate business.
My discovery was a subset of the traditional real estate business, not something new to the business world.
How Can I Make Enough Money to Quit My Job?
Alternative Real Estate Investing
When I finally woke up and discovered tax liens and tax deeds, I was shocked and the more I investigated, the more excited I became.
It’s not difficult to understand, and it works like this.
Local county governments and municipalities have employees like school teachers and firefighters that must be paid. To pay for these people, the state legislature has the treasurer levy and collect property taxes.
How Can I Make Enough Money to Quit My Job?
Tax Delinquent Property
If they cannot collect property taxes, the treasurer is authorized to seize the tax delinquent real estate.
The treasurer then sells the property at a public auction which is announced on the county’s website and in the local newspaper.
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How Can I Make Enough Money to Quit My Job?
Real Estate Sold for Big Discounts
The treasurer will discount the sales price of the property to 60%, 70%, or 80% below the tax assessed value in order to facilitate a quick sale.
Starting prices are sometimes as low as 10 or 20 cents on the dollar.
At the auction, the property will be sold to the highest bidder without a deed of trust loan or mortgage.
How Can I Make Enough Money to Quit My Job?
Bargain Real Estate Sold Mortgage-Free
The county treasurer is authorized to cancel, to wipe out the mortgage or deed of trust so that the purchaser receives a treasury deed to the property without those encumbrances.
In other words, the county treasurer is auctioning used and abused properties, junk properties, and some properties that just need a clean-up, and the bidding starts at 10 or 20 cents on the dollar.
How Can I Make Enough Money to Quit My Job?
An Example of the Profit Potential
In over 3,000 counties across the USA, local governments will have properties to auction every year.
For example, a buildable residential lot in a nice subdivision might have a value of $40,000 according to the assessor. However, at the auction, the bidding could begin at only 5 cents on the dollar.
If you were the winning bidder at 20 cents on the dollar, then you’d own a $40,000 lot for $8,000. That’s an amazing profit margin.
How Can I Make Enough Money to Quit My Job?
Let’s Do the Math
The tax assessed value is $40,000
Your quick cash flow generating sale price is $24,000
Your investment is $8,000
Wow, that’s a $16,000 profit potential on a low-risk, high-return deal.
Keep doing this, and you would never worry about having a boss.
How Can I Make Enough Money to Quit My Job?
Conclusion
You can make enough money to quit your job forever with tax defaulted property investing. It doesn’t take a lot of money to get started and can be done part-time.
If you’d like to know more about investing in tax delinquent property, Ted Thomas provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops, web classes, and personal coaching with certified coaches.
You can learn how to reap the huge rewards from tax lien and tax defaulted property investing! Get started today by taking advantage of Ted’s Free Master Class! Act now, it costs you nothing and will give you a big head start!
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