Intro…
- 21 y/o college student
- Building a real estate business
- Addicted to stocks & options
- Fitness & outdoor junkie (just like everyone else)
- Most importantly, a system skeptic
Cheers to all the connections I’ll make here.
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!
Intro…
- 21 y/o college student
- Building a real estate business
- Addicted to stocks & options
- Fitness & outdoor junkie (just like everyone else)
- Most importantly, a system skeptic
Cheers to all the connections I’ll make here.
@ChrandLord@hibernating4now Yeah definitely I'd want a gas car no matter what. ZR1s are so badass. Such a basic car to want nowadays but the M3s with xDrive are so nice. Something like that and then daily a tesla would be perfect
@ChrandLord@hibernating4now Brooo is FSD that good? I've seen videos but if you're on the laptop doing work while its driving then you must trust it like crazy