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Updated about 8 years ago on . Most recent reply

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Bill Goodland
  • Rental Property Investor
  • Allentown PA, United States
422
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533
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Millionaire net worth by age 30?

Bill Goodland
  • Rental Property Investor
  • Allentown PA, United States
Posted
So I've known for years that I have wanted to get into real estate and then more I've been reading, listening to podcasts and being active on the forums have really opened my eyes to the power of REI and how it can grow your net worth(especially Brandon Turners 7 years to 7 figure wealth). Goal setting has been very important so far in my life and one I've set for myself is to have a millionaire net worth by 30. I'm sure plenty of people will debate on whether or not this goal is realistic or not shooting high enough. My circumstances are that after I am done with graduate school I will most likely gross over 100k salary with a rather flexible schedule(physician assistant). I think by living frugal and house hacking I can contribute 50k of personal funds every year for 5 years before 30. I've mapped out a few scenarios on how this might be possible by BRRRRing, wholesaling and flipping my way to more cash leading to more equity in buy and holds to greater net worth. I'm curious if anyone could provide some insight on what they're best recommendations are in this approach or what they would do if they were in my shoes. Thanks in advance.

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Best recommendation is on the personal as opposed to investment side...

        Do not get married. When you choose a "girl friend" select one with a high income job and a drive to increase wealth. Preferably one that views their employment as a job, exchange of time for money, rather than a career. You do not want a partner that allows their job to interfere with their life. Think of them as a potential business partner. Associate with like minded individuals, especially those with money.

Distance yourself from all your old friends that think money is earned to be spent.

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