I became interested in REI some months ago. I was laid up in bed due to a broken femur and ended up playing with my Stock accounts. My roommate and I started talking about investing vs speculating and he turned me onto BiggerPockets. Since then I've been hooked. First thing I did was calculate my net worth (lower than my lowest guesstimate was a punch to the gut). I was not only interested in REI but financial freedom through REI. I started listening to the BP podcasts from episode 1 a couple week later, i hit episode 30 today and recently bought "Rich Dad, Poor Dad", "BRRRR", "The Book on Flipping Houses", and "The Book on Estimating Rehab Costs". I'm about halfway through RDPD after about a week.
I know this isn't a get rich quick game, and I'm not looking for one. I'm looking to put myself and my money to work in such a way that when I get up I get up I'm not going to a "job", I'm going to work.
Some lesson's I've learned from BP podcasts and RDPD thus far and my thoughts on them:
1. This is not a get rich quick game, though it has happened.
- already discussed
2. Do your homework! But don't fall into the analysis paralysis trap.
- Don't think this will be a problem for me. A couple years ago I couldn't change my own oil and a few weeks ago I finished building my first car (technically rebuild, gear heads feel free to hit me up for deets). Obviously understanding REI and building a car are different but the point is I do my HW and I dive in (too much sometimes). Finding the line between the two is the hardest part and for me always depends on a risk vs reward valuation, I tend to stack the rewards in my head, trying to avoid this while not hitting the analysis paralysis point.
3. The rich and poor think about money differently.
- TBH this always seemed obvious to me, but understanding how they think of it differently is the hard part. Rich Dad seems to have separate "rich" into two classifications: rich, and successful. A person can have a lot of money (rich) and still think poor by letting fear/desire control their logic. So to be the kind of "rich" Rich dad is talking about you need to both have the money, and understand it.
4. Everyone get's started differently, success stories are fun to listen to, and don't quit.
- 30 episodes into the podcasts and I don't think anyone has started the same. I'm sure with 200+ episodes to go there will be some repeats, but it's still pretty neat. Also success stories are always fun, they're motivating and entertaining (usually). They all say the same thing in the end, the successful ones are the one's who kept picking up the pencil, making plans, failing (or succeeding) and doing it again.
That's where I am now, long long long way to go but the deeper I dive the more interested I get. How did you get started? Please comment on any of my thoughts whether you agree or disagree, the more comments the better the conversation.