Where to start? Seems impossible to break in to this
76 Replies
Jacob Sampson
Investor from Topeka, Kansas
replied about 1 year ago
Originally posted by @Jeff Adams:It seems like this is an impossible task with both limited funds and time. I work full time and with a kid in day care, how do you have the time and money to buy, rehab, and rent a multi family building?
What’s the best way to become financially independent?
Focus on growing your w2 income. Real estate is tough to get into if you have neither time or money. Also as has been stated rehabbing may not be the way to go for you. You may want to look into buy and hold and look for properties that don't need a ton of work.
James Wise
Real Estate Broker from Cleveland, OH
replied about 1 year ago
Originally posted by @Jeff Adams:It seems like this is an impossible task with both limited funds and time. I work full time and with a kid in day care, how do you have the time and money to buy, rehab, and rent a multi family building?
What’s the best way to become financially independent?
Who says you need to buy a building that needs to be renovated?
Anna Catron
from Fort Worth, TX
replied about 1 year ago
As far as I can tell, the answer is OVERTIME. To get ahead, we're going to have to work overtime and give up sleep, time with family, alcohol etc. But it is worth it. I fill my head with stories about people who put in the time and made it big. I just listened to THE WEALTH CHOICE. Made me feel like a spoiled brat and helped me get up earlier in the AM to get s%&$ done! Essentially, all the podcasts tell us to be Buddhist. "Life is suffering, it has a purpose, learn to deal with it, it will be worth it".
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replied about 1 year agoThe Wealth Choice is the podcast name? @Anna Catron
Dennis M.
Rental Property Investor from Erie, pa
replied about 1 year ago
@Jeff Adams
Start by reading rich dad poor dad
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replied about 1 year agoThanks
Ben Leybovich
Rental Property Investor from Chandler/Lima, Arizona/OH
replied about 1 year ago
Originally posted by @Jeff Adams:It seems like this is an impossible task with both limited funds and time. I work full time and with a kid in day care, how do you have the time and money to buy, rehab, and rent a multi family building?
What’s the best way to become financially independent?
I like this post, and I don't like many posts. I appreciate you cutting to the chase. I will do in kind.
The short answer is - someone else's money.
The real answer, though, is that in order to attract said money to do these deals you have to have an uncommon amount of knowledge, and this takes time.
There's just no way around it. Good luck!
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replied about 1 year ago@Ben Leybovich thanks brother!
I appreciate you liking it. I get straight to the point.
I have a lot to learn. Period.
Get some.
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replied about 1 year ago@James Wise you’re right man. I just kinda typed a post with what came to my mind a that time.
Now I'm thinking about turnkey and furthermore, whether I want to buy a townhouse down the block from me, or look at a multi unit. Without any experience, I don't know what the best ROI is. So I'm going to have to learn here from all you fine people.
Annu Zer
replied about 1 year ago
Safer than syndicates( which will need a lot more work to not lose your money), one other option, which is completely passive, is REITS, e.g. https://investor.vanguard.com/...