Too many folks I talk to think they can buy a duplex or two a year or flip a house and get rich off of real estate.
There is nothing wrong with that and I’m sure in the long term it could work. In reality a duplex will cashflow you a few hundred bucks a month but if the furnace goes out…there goes a year of cashflow. Or flipping a house, great profit…just to give 30% of it to the IRS. You aren’t creating any real wealth.
Reality is, you need to go bigger in real estate to make an amount of money that changes something in your life. (Isn’t that the reason we are all doing this?)
And I’m not talking about syndicating or using other people’s money.
You shouldn’t focus on getting into real estate. You really need to focus on your income, getting it up & saving as much of it as you can.
Find a way to make a strong income and allow those funds to grow your portfolio.
Getting into real estate to make loads of money is the incorrect thinking.
You should be thinking, ‘how can I work my ass off to make a huge income for a few years’, then use that money to buy bigger real estate that profits way more much each month and you can make a true business out of it.
Doing a few small deals to try and grow your portfolio or net worth ain’t it and it isn’t worth it.
Yes I know this is easier said than done and some people can’t get a larger income to scale faster. I get it and know it’s not possible for everyone.
I spent the last 8 years pushing my brokerage income to the max. I had a really strong 8 years and rolled all those funds into the $13M personal portfolio I have today.
I can never sell another piece of real estate for a commission check and comfortably sit back and live off the cashflow my portfolio creates.
But I like what I do on the brokerage and operator side and I like nice things…so I’ll keep on keeping on ;)
I hope this encourages someone to buckle down and go bigger, quicker!
It should be pretty obvious at this point that AI is a "force multiplier" not a "labor substitute".
It helps experts be better at things they are already good at. It doesn't let beginners match experts.
If you can't write, anything you write with AI will be unmitigated slop.
If you aren't a software engineer, anything you vibecode with AI will have security holes and won't be able to scale past a toy demo.
If you blindly trust AI to deliver on a research task without knowing the subject matter, you won't be able to fact-check it.
There's this weird misconception of AI as something that completely levels the playing field. I don't see it that way at all. There are mathematicians deriving novel lemmas with off-the-shelf models. Normal people can't do that.
AI is a tool that makes experts better. It doesn't make everyone into an expert.
@KriszKH@lukas_m_ziegler It’s pretty standard equipment, anyone who has worked in manufacturing has seen these… and I see “lidar” 🤣🤣very cool resume btw! Just a tool and die maker specializing in injection molding here. Keep up the good work 💪🏽