Why shouldn't I get a 2nd job?

[source No.21248004]

I have the luxury of working from home, and I was thinking of applying for a 2nd job that also allows remote work. Tell me why this wouldn't work.

[Anonymous No.21248033]

Wait you want to be a wagie?

[Anonymous No.21248054]

>>21248004

Look at this fucking wojak

[Anonymous No.21248089]

Because you’re afraid of losing your first job. Do it. What’s stopping you. Get a virtual assistant and get a couple jobs. Fuck it.

[Anonymous No.21248135]

>>21248004
I'm very scared that working from home will make companies realize they can just export my job to india. I already outsource my job to an indian to save effort.

[Anonymous No.21248174]

>>21248089
This. Fuck it if you get fired from a couple of them.

[Anonymous No.21248229]

>>21248004
how do i into remote work? all my classes are online this semester so ill just be shitting around for the rest of the year. all the jobs i see are data entry shit thats too good to be true like "work whenever/however and make $999999/hr"

[source No.21248236]

>>21248033
I make low six figures and have little debt and also live with my parents. Finding that I have a lot of spare time now and don't actually put in the 40 hours that I'm paid to do. More like 20 hours at best.

[Anonymous No.21248274]

>>21248004
that is a man

[Anonymous No.21248332]

>>21248004
what kind of retarded question is this, if you want to do it, do it

it may be too much work (which isn't really a reason cause you can just quit)
some countries have increased tax for more than one job

[Anonymous No.21248368]

>>21248004
is that an ex gf or something? she's cute as fuck

[Anonymous No.21248454]

>>21248004
How much AAVE for her to treat me like a leapord?

[source No.21248592]

>>21248368

ya she is. kind of miss her. has the cutest smile too.

[Anonymous No.21248632]

>>21248592
wow anon, she's a cutie. well done

[Anonymous No.21248752]

>>21248004
Getting a 2nd job is retarded, especially if it's paying you hourly. Each additional dollar is taxed at a higher rate.

You should spend your spare time building wealth instead. If you're not making full use of your credit, you're not going to be rich.

So that means looking for businesses, real estate, or debt to purchase.

If you're making six figures, you can borrow >700K. Find a property that you can buy at <85% of its full market value and you'll instantly make 100K tax free.

If you are intellegent and commited enough, you will find financing, and deals that will not raise your debt to income ratio.

For example, most lenders will cap you at 38% debt to income. If you can buy properties at 10% cash returns and finance at 4%, you can infinitely grow...

Lots of these properties are out there especially if the real estate is dated or rents havent been raised to market rates.

[Anonymous No.21248778]

>>21248004
>wagies have to work two jobs now to make a decent sum of money
lmao

[source No.21248841]

>>21248752
>If you're making six figures, you can borrow >700K. Find a property that you can buy at <85% of its full market value and you'll instantly make 100K tax free.

"If you're making six figures, you can borrow >700K. Find a property that you can buy at <85% of its full market value and you'll instantly make 100K tax free."

What do you mean by this?

I only make $120,000 a year in a low cost living area. Like I said, low 6 figures. I never went around to look for property I guess.

[Anonymous No.21249074]

>>21248841
For example,

A property is listed for 600K. It could be worth 700K with 50K in improvements, as evidenced by comparable properties in the area.

Get it under contract for 550K. There are many things you can do to negotiate down the price.

Spend 50K renovating it. Now its worth 700K. Get an appraiser to come in after a year of the property being stabilized and rented out to extremely high quality tenants. Probably worth another 3% from appreciation alone.

Appraisal comes back at 725K. Now if you put 20% down, you'll probably be able to pull out up to 80% LTV. Your loan balance is ~440K. After the refinance, the lender puts $285K in your pocket.

You only spend 160K on downpayment and rehab. 125K tax free in your pocket within a year.

Use the money to fund your next deals...

[Anonymous No.21249098]

>>21248841
>>If you're making six figures, you can borrow >700K. Find a property that you can buy at <85% of its full market value and you'll instantly make 100K tax free.

>"If you're making six figures, you can borrow >700K. Find a property that you can buy at <85% of its full market value and you'll instantly make 100K tax free."

[Anonymous No.21249176]

>>21249074
This also doesn't consider the positive cash flow and principal paydown, but I'm just assuming those will zero out with closing costs, and refinancing costs within the first year.