The Road to Finacial Independence

Blogs » Real Estate Investor » Texas » Dickinson » The Road to Finacial Independence

Step Two

Tuesday, August 18

I took what I consider to be step number two on Friday. I opened an account at a Federal Credit Union that is solely for building capital to invest. I set it up to draw out a percentage of my check, and I don't think I will ever miss it.

I got motivated to do this for several reasons, but the final factor was reading the Richest Man in Babylon. If you haven't read it I strongly suggest you do so. The book is an easy read and helps you to think about your wants verses your needs.

I am continuing with step number one (getting education) and I don't think that will ever stop. Step number two will continue to grow until suffiecient enough to put it to work. Now I will begin step number three, finding people who are successfull in real estate and associate with them. I think this is an excellent forum for knowledge but if I can't see you I remain a bit sceptical about your success.

I am looking into the Lifestyles Unlimited group and the RICH club in Houston. Has anyone out there had experience with either of these groups or have suggestions? Thanks in advance for your help.

Where am I going

Friday, August 14

I make a good living but don't live the good life. Work, work, work, and then come home and work somemore. I am reading books about how to become successful in this real estate endevour, but where do I go from here. Time is a big hurdle, I am a father of three, but I want to get going so I can have more time with them.

I have contacted a mortgage broker and will be meeting with her soon to discuss what we need to have together in order to invest. I currently am paying and living in a 3/2/1 in an excellent rental neighborhood, and hope to keep it to rent it out. Has anyone started out like this before? I would like to rent it, get some cash flow and live in the next potential rental. My wife is on board but I don't know how lenders look at this.

My goal is to get enough of the hold/flip when the market is prime proerties to do this as a full time gig. I want to be a business owner, not self employeed. I am motivated, I'm looking everywhere I can to get the education, and I'm good with money. Does anyone have some good next step advice?

So where am I going? To a place that puts me in control of my money and investments, and will allow me to live the good life.

BiggerPockets

Step Two

Where am I going

Steven Trankler

Categories

Archive

Recent Posts

Recent Comments