Background (quick): Finance degree, graduated early. BDR at a big tech company for a year, then ran my own service business for 2.5 years (peaked at $16K/mo, averaged ~$10K). Shut it down to move closer to family, took a remote marketing job that imploded after 7 months, then spent 4–5 months job hunting with a few final rounds but no offers.
A buddy owns a cash-offer/distressed-seller real estate company. I was embedded in the communication channel and the other agents before were crushing. They ended up leaving and he offered to pay for my license, and I'd co-own (50%) a separate realty LLC that handles all his listing deals, splitting commission 50/50. His pitch was 10 appointments a month and ~$7.5M in listing volume a year, roughly $135K to me pre-tax. I told him upfront I couldn't survive on commission only and asked for a base or draw. Got licensed end of August, moved down following week.
September: rates went up, zero appointments, company is burning cash and company cards are maxed out.
The "2 weeks" staying at his place is now 2 months
I've self-funded the realty LLC startup (~$2K)
He can't pay for my training anymore, so I'm paying a top local broker monthly myself. That broker is feeding me showings and leads since he knows my situation
I had 2 listings. He pulled one to turn into a rental, so I'm down to 1, with no traction yet
2 other deals in the works: one pays me $600. The other was supposed to pay $2,500, but he took an offer that cut my share to $1,000
~$480 in annual MLS dues hit in November
Have yet to secure another listing yet. October has been busy with appointments but no listing conversions yet.
Where i am at:
~$2K left in checking/savings by end of month after current bills
~$70K net worth, mostly invested (haven't touched it, wont touch it)
Best case, ~$1,600 coming in from current deals, with $480 of that going straight to MLS dues, plus the monthly training cost
Working full days, so no time for a side job
Can't afford to move out. One car repair and I'm wiped out
I don't think anyone acted in bad faith. It just went sideways fast and I'm stuck in the middle. But decisions keep getting made that cut into my income, and I have no say in them.
The question:
If I stay, the pipeline could pay off, it's my only real path to income right now, I'm building a network, and the city isnt my favorite but its better than hometown. But there's a long lag between work and pay, the company can't afford a base, I can't move out, my cash keeps draining, and there's no room for a side job. If I go home, I can focus on landing a local job, live stress-free with food and housing covered, and hustle for side money. But I'd be back to square one, could lose momentum on my listings, risk getting complacent, and my income potential drops to zero. There's also a third option: the broker training me offered to bring me onto his team, but that would mean cutting ties with my buddy's company and potentially my only housing option in the city.
How would you think about the opportunity cost here?
I'm 25, I've bounced around a lot, and I'm worried I'll still be bouncing at 30. I don't want to give up on building something, but I'm tired of being broke on active income.
And here is a final point: if you were to ask, what job would you do if you could? Answer: no clue
Second point: even if i knew the answer above, lets say i go home, what job will i get there? I didn’t have much success in the first place, what would change?
I was thinking about getting into construction since i have enjoyed certain aspects of real estate but i don’t come from that background. No problem with that but as we know, job market is tight.
My biggest fear is getting desperate, taking anything, taking a big backward step with my career, pigeon holding/getting stuck, finding myself in not such a good position
TL;DR: 25M, two months into a commission-only realty partnership with a friend. Projected $135K, made $0 so far. One listing got pulled for a rental, another deal's payout was cut from $2,500 to $1,000, and ~$1,600 total is in the pipeline against monthly training costs and $480 in MLS dues. Down to ~$2K cash by month-end (~$70K invested). Stay or cut losses?