Let's get real about starting out

Let's get real about starting out

Minneapolis, MN · Member since 2017 · 40 posts · 70 votes
There are so many positive stories about people starting their investment careers on here and online that aren't painting a completely accurate picture. Most people are living paycheck to paycheck. The statistics on people even having a savings account, let alone 10-20k to put into real estate, are abysmal at best. Most people don't have a parent that can lend them the money either. And if there is a relative or friend with that money willing to take that kind of risk you need to be able to sit on that money long enough so the bank doesn't question it and then be able to find the right deal for it after that. The stories of college kids buying houses is great, but let's not pretend you made that money working in the student book store. And if so how?! My point is there's a big piece missing from these "rags to riches" stories. I think it'd be much more helpful to share how folks honestly and actually got to a point where they could make that first decision. Did your parents help? Was college free? Did you work three jobs and save for 2 years? Were your job earnings large to start with? How did you actually get there?
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Investor · La Grande, OR · Member since 2014 · 194 posts · 176 votes
9y

@Dustin Ruff,

It's all about the Hustle. I believe that's why so many folks use the house hacking strategy to get started. Most Americans have the ability to qualify for some type of a low money down loan (USDA, VA, or FHA), which makes getting into their first property as an owner-occ and then converting to a rental pretty easy. I spent a year in Iraq to make the cash to get started in Real Estate; it sucked being away from family, but if you want it, you will find a way.

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  • Investor · Belmont, CA · Member since 2016 · 44 posts · 40 votes
    9y

    @Dustin Ruff

    In my case I had family assistance. I think my summary in another thread would answer your question. :)

    https://www.biggerpockets.com/forums/88/topics/472511-ever-get-jealous-how-do-1m-homeowners-own-that?page=3#p2922390

  • Saint Paul, MN · Member since 2017 · 28 posts · 8 votes
    9y

    This is a great thread!  I've listened to many podcasts and watched a bunch of youtube videos on rags to riches but always wondered what the process was for them and how they got started.  My wife and I just recently made the decision to start investing in real estate.  Had no savings except for tax returns sitting in an account for a "rainy day" but not enough for a down payment for anything decent here in Minnesota.  Unless I want to purchase something two to three hours away.  Can't move because of my daughter's condition so have decided to refi our primary residence of three years and put the cash in an investment savings account for the next six to eight months while cutting back and shoving as much as possible into that account.  Hoping to have enough for a down payment as well as cash reserves in that time.  Also waiting for the market to settle down a bit so prices aren't so high.  Goals are in place and excitement is high.  Attending REIU in the meantime to learn as much as possible.

  • Investor · Kansas City, MO · Member since 2017 · 791 posts · 1k+ votes
    9y

    Check out my podcast: www.biggerpockets.com/show239

    My first property was in 2010 at age 25. I didn't have much cash at the time but swung a $135k purchase and $60k in renovation. 

    We lived on my wife's salary and invested everything I made from the business and real estate. I negotiated the purchase of that business my final year of college. Fast forward 7 years and we reached our financial freedom goals with 141 units. More about my start here:

    My parents did pay for my college education, my wife's did not, so we still had student debt. Until this past January I had two vehicles. I had a jetta diesel wagon with about 190k miles and '03 F-150 with over 200k miles. You make tradeoffs. I loved the cadillac CTS-V coupe when it came out and could have technically afforded it, but that would have slowed my ability to acquire properties and reach our real goals that mean much more. 

    You will have to make tradeoffs. But if you know what you're striving for, you aren't actually giving up anything. Believe me, given what is possible to achieve in a short amount of time, giving up that nice car you'd really like or whatever it may be, isn't a sacrifice at all. The actual sacrifice would have been limiting my future for some immediate gratification... You can make progress, or you can make excuses.

    A great quote from Jim John; "If you really want to do something, you'll find a way. If you don't, you'll find an excuse."

  • Anthony GaydenPro Member
    Rental Property Investor · Omaha, NE · Member since 2014 · 2k+ posts · 3k+ votes
    9y
    Originally posted by @Joe Splitrock:

    @Dustin Ruff I do get a little frustrated when we hear a "rags to riches" story on BP, only to find out that mom and dad loaned or gave them the money. Or one person on BP said they struggled starting out and had to skip a warm weather vacation one year. Talk about a privileged mentality, like that is a struggle?

    I started working when I was 8 years old doing a paper route (I know that dates me). I worked all through high school and college. I got into sales when I was 19 because I saw that it was the highest paying job out there. I saved my money until I started blowing it in my early 20's. Then I woke up and stopped the partying.

    My first deal was 100% financed and my second deal was 10% down with PMI. Neither of these options is available today on investment properties, unless you house hack.

    That leads me to my recommendation for a young person starting out. Immediately stop going to the bar. Stop going out to eat. Drive a crappy old beat up car. Put every penny in the bank. Find a duplex in a rough neighborhood and buy it owner occupied. Use PMI to keep your down payment under control. Live in one side and rent the other. Fix up the house while you live there. If you don't know how, learn how to do things on Youtube. Look at your career choice. Sales is a high paying profession and doesn't require college (realtor, car sales, etc). After you live in the duplex two years, buy another duplex. Live in the new one, rent the other side on your old one. Repeat.

    Money is necessary in real estate. Those you tell you otherwise are probably the ones who got it from mom and dad.  

    You have a great story and I admire your hard work a great deal.

    I actually don't mind hearing stories of those who had it easier than me. Everyone has to start somewhere and the honest truth is that success has little to do with where you are starting. We all know cases of people who had every advantage and fell flat on their butts due to their lack of motivation and poor work ethic. It still takes a lot of motivation and hard work to succeed.

    Keeping that in mind, I do have a great deal of admiration for those who started with huge obstacles and overcame them.

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    great stories.

    I guess if I go all the way back... my Dad was in real estate..  He did not like only getting 3 leads a week from the company ( and poor leads at that)  think and watch the movie Glenn Garry Glenn Ross selling dirt.

    So he bought a printing press and after school a10 YO I had to print 3,000 door hangers before I could go play.

    then on the weekend myself my brother and usually 2 or 3 friends would then drive to a neighborhood early 5am on a sat or sun and put the door hangers out.. Now that was the 60s you would get arrested for child abuse these days letting 10 year olds walk the streets..  Then I cut apricots in the summer.. then at 13 I talked my way on to a fuller brush door knocking crew and learned first hand that sales were where its at.. I could make 25 to 40 dollars after school in late 60s selling brush's and soap door to door.. I was so good at it my boss let me work commercial door knocks.

    Then I got good training when I bagged groceries for a year..  then pumped gas during the gas crisis.. quick stint in collage ( 1 year) I graduted high school early... did not like Collage at all.. my dad talked me into coming home living there at 18 and getting my real estate license.. while I was studying to do that I tried selling dental equipment ( few months ) very tough failed at that .. tough getting past front desk and dentist are cheapo's...  got license just after 18th birthday 1974.. made my first sale about 3 months in  900.00 commish in a 1.65 an hour minimum wage market. and was hooked. went on to make close to 50k that first year and never looked back.. 

    making commission and 5X or better what my peirs were making allowed me to buy my first home in Milpitas CA for 79k in 77... sold that house 18 months later for 125k and never looked back. and fully understood that appreciation in CA is real and where its at.. :)  The rest is on my pod cast  # 222... 

    So sales commissions that create big income and not lock you into an income.. and getting licensed in this great industry so i could network and work with those in the industry.. I learned all sorts of disciplines working in the industry. how to lend money how to buy court house steps.. how to be a great salesmen.  etc etc

  • Developer · Little Ferry, NJ · Member since 2016 · 426 posts · 226 votes
    9y

    @Anthony Gayden I love that, having great drive and the grind to keep going is important. Work, knock out debt, save, and be thrifty, that's how millionaires are made. It's not about how much you make, it's about how much you save. And always give back to the community. 

  • Developer · Little Ferry, NJ · Member since 2016 · 426 posts · 226 votes
    9y

    @Jay Hinrichs That is exactly the type of story everyone should have. I am on the same boat as you except at 18 I started flipping right away and I had one private investor vouch for me. I think college is a big waste of time and money, they don't teach anything about the real world, like writing checks, paying bills, making sure you're out of debt, how to be rich by SIMPLY just compounding, and most importantly how to worry about taxes. Running a business and starting from nothing, I am super proud and lucky to be in the position I am in. I worked at a restaurant for 1 year and I wouldn't recommend it to my worst enemy. I hated it and after I quit on my 18th birthday, I promised myself I wouldn't work for anyone ever again. But that's how to you make it. Hustle. Grind. Hard work. And taking RISK, people don't understand nowadays that without risk there is no reward. Or how you say in polish, "the ones that don't take risk, don't drink champagne."

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    @Mateusz Prawdzik  I am not personally dissing collage... it just was not for me.  I put both my kids through collage so they would not be saddled with student debt ( one of my proudest moments ) and my daughter is now senior management at intel making 300k a year so it does work for many.. And she has zero interest in real estate at the level I do it.. she likes working with billions of dollars  LOL..  and traveling he world for the company ..  

    we all have a path.. that was mine.. I am not convincing that Real estate is the end all for all people ... its a tough slog and defiantly not for everyone.. other wise you would never have foreclosures or distressed assets by those who thought it was a great idea and failed badly. 

  • Anthony GaydenPro Member
    Rental Property Investor · Omaha, NE · Member since 2014 · 2k+ posts · 3k+ votes
    9y

    @Jay Hinrichs

    I think that sales is the fastest way to high wealth for anyone. Unfortunately I did not come to that conclusion until recently (the last few months) after reading a lot of the sales material from Grant Cardone.

    Its time to play catch up.

  • Real Estate Consultant · Cleveland, OH · Member since 2016 · 511 posts · 345 votes
    9y

    I started my investing career at the young age of 40. I have 6 kids and an amazing wife. Rewind 6 years ago, I was divorced, declared bankruptcy (because of living the "american dream"), and had $75 to my name. I moved into a small 2 bedroom apartment so my two boys could have a room and began my life over. I met my current wife who brought two more kids to the mix. Right after we got engaged, her Mom got sick. She died a year later at 51 and left my wife and I with 2 more mouths to feed (she had a 15 and a 12 year old). After that I went through a $10K custody battle with my ex. 

    Through all of this I was able to put away about $50K that I used to buy and finance my first flip in April of this year. I took a HML to help. I finished the rehab and the house sold in 3 days. I now have 2 more projects up and running. My wife and I are working to pay down the debt we have. The credit cards are paid off and the house and car are next. I should have both paid off in the next 18 months. Once that happens I will quit my job and focus on real estate full time.

    We are able to do all of this because we have 6 kids and live in a 1200 sq ft house in a good area. We rarely go out to eat and my wife makes almost everything we eat from scratch. We drive older cars and won't finance another one until we can pay cash for it. We make the older kids work and pay for their own clothes. All of this is allowing us to grow financially as a family even after all of the problems we have had getting started. Its never too late to start! Get rid of the excuses and get out there and change your life!

  • Member since 2016 · 13k+ posts · 12k+ votes
    9y

    The pattern seems fairly obvious.....

    lazy people make excuses and live for today. They believe their lot in life is caused by other.

    Successful people are driven to work hard and sacrifice for the future. 

    For those pining for the "Universal Dream" it's time to wake up. Stop dreaming and get to work.

  • Specialist · Lakewood, CO · Member since 2014 · 1k+ posts · 1k+ votes
    9y

    Similar to @Mike Sattem, my first property was bought because I saved every penny from a year in Iraq to buy it. Of course, I lost half of it in the divorce that followed just before I came home, but that's a different story. It gave me the reserves to buy an ugly house and fix it up. My next big purchase came by pulling more student loans than I needed during my Master's program. I have been saddled with student loan debt for almost 20 years, but decided that I would pull extra knowing I wanted to buy RE. The next couple of purchases were funded by an international retirement plan similar to a 401k. Because it was not a US retirement plan, when I left the organization they gave me the money to put it into whatever retirement I felt like using and that my country allows... I went with RE! I took a 401k loan and private money to fund another property. Everything is because I planned for the future (biggest factor) am relatively frugal, hustle (yup, had to put it in there), work full time, and have a couple of side businesses.

  • Investor · Cary, IL · Member since 2014 · 124 posts · 95 votes
    9y

    It all began with a net worth of -$75,623 (student loans, consumer debt, tiny 401k). I finally got over the fear of missing out in 2014 and decided to spend a weekend at the bookstore. Found Rich Dad Poor Dad which, like many, slingshot me into reading 10 other REI books in a matter of a few months (education). I prioritized learning how to analyze properties, practiced on 6 houses a day, until I found a great house-hack opportunity 5 minutes from my day job (education & discipline).

    With about 2 grand in my bank account, I then took the maximum loan that I could, based on my balance, from my 401k (~$6500), and used it to FHA finance that duplex in June of 2015 (education & risk). I use the pay-as-you-earn loan payback on my student loans (5.5% interest) to help accelerate my savings rate (risk). A big factor has been setting a strict budget that eliminated things I don't really care about, allocated a portion of that spending to things I do like (eating at restaurants from time to time, vacations, etc.), and saving the rest (sacrifice & discipline). My girlfriend (now fiance) moved into the house hack and we decided to save all of her income for the entire year and live off of mine (sacrifice & discipline). I spent the better part of a year learning how to be a landlord, and dialing in my business to be ready to scale down the road (education).

    In 2016 preparation + opportunity = luck and one of my coworkers heard that I was interested in buying houses. He had just inherited a home from his mother, and was very motivated to sell. I bought the house for 78k (owner financed with a 10% downpayment, 6% interest, 20yr am), rehabbed for 6k and rented it out. The same month we closed on a duplex 15 mins away for 159k (25% down) with money saved over the past year (205k appraisal). The property had amazing numbers since the out-of-state owner that had just rehabbed the place and got in over his head forcing a sale. 1 year later the SFR cash out refi appraised for 185k.

    We still live well below our means in that original duplex looking for another house hack opportunity.  A portion of cash flow now funds direct mail marketing since deals are so hard to come by.  We also work very hard at our W2 jobs so our income has increased significantly to help support more purchases.  We've been fortunate enough to love what we do so that's a plus.

    You'll notice a common theme of education, discipline, sacrifice, and some risk that led to the growth of our business.  No parental subsidies or gifts here, unfortunately.  I'm leaving out the sleepless nights, tenant headaches, and creativity that were all necessary as well.  Getting fed up and wanting it more than whatever shiny object came along was the thrust.  Make a plan, set a budget, and stick to it...you'll get there!

  • Investor · Richmond, VA · Member since 2016 · 1k+ posts · 2k+ votes
    9y

    @Dustin Ruff,

    Whenever someone asks how we did it (5 investment homes in 1 yr), I always say it's pretty simple-- working you butt off!

    Absolutely no mommy/daddy money, me and my husband both had to pay for college the wonderful way through student loans, I'm a financial analyst, he's a woodshop teacher at a local HS (yes, teacher!) and  he bought fixed up a foreclosure  and had a $30K equity line put out, and I have amazing credit and was able to finance all of the renovations (sometimes up to $60K) , and then we'd put an equity line on the house, pay off the renovations, and repeat!    We have worked pretty much every weekend since May 2016, and haven't looked back.    Is it risky?  Absolutely, that's why so few people do it,  risk is scary!    

    As everyone here has unanimously stated-- it's about sacrifice, hard work and risk!  I don't understand why those concepts are so hard for people to understand, it's HARD WORK, it's expensive, and sometimes it sucks because all your peers are going to Europe, buying huge amazing houses, and you're doing demo in a gross house finding drug paraphernalia!    

  • Ryan TulejaPro Member
    Redmond, OR · Member since 2017 · 98 posts · 36 votes
    9y

    I grew up poor. Like... Parents used my social security and ran up huge electric, gas and phone bills that I got to adopt as an adult poor. Didn't finish high school, went to trade school instead at 16.
    Wife and I bought our first home in 06 at the top of the pre-crash market in one of Denver's suburbs. Held it and saved for eight years until we could sell and make some money. Bought another primary residence and held it for two years and sold it.
    At this point we purchased another primary home in Minnesota and had some money left over. We just closed a couple weeks ago on a small rental here in MN and have our first tennent scheduled to move in next week.

    Probably not super inspirational, but for us it has taken a decade of hard work and planning.

  • Frederick, MD · Member since 2017 · 1 post · 0 votes
    9y

    Good Morning Everyone,

    I'm new but love lurking these threads as they are provided some great insight from you guys! 

    I reside in Frederick, MD and I am just starting out --- currently renting until I can purchase my first home. Depending on the layout of the house, I would like to have a roommate or a renter in a partitioned section of the house. I have about $10,000 in savings but am nervous that it isn't enough. On the plus side, I'm 28 and have no kids or wife so my free time can be spent on learning about real estate.

    I'm concerned that housing is too expensive around here and that it may be a lost cause and I'll have to re-locate. Hopefully this isn't the case, but I am ready to take a risk in order to get started. I'll be watching this thread for sure. Good luck everyone!

  • Investor · Union, NJ · Member since 2011 · 838 posts · 295 votes
    9y

    great thread.... I Was always a hard worker/earner and constantly saved and saved while living at home with my Mom while most of my friends went out and rented apartments. I knew I wanted to invest in Real Estate

    Eventually a 4 family came on the market in town and I was able to get an FHA loan but still put down around 15% The property had a 5th basement apartment that I planned to live in but when I saw the additional cashflow I could get while renting this unit out as well I stayed at home with my Mom and rented out the whole building.. I Was cash flowing over 1k a month and thought I was a genius! People told me I was nuts to buy this old house and to make sure I knew what I was getting myself into, LOL

    This enabled me to save up quickly and buy a Mother/Daughter that I occupied and rented out 2nd floor which paid 3/4 of my Mortgage so again I had W-2 income, my 4 family income and a very small mortgage at my Mother Daughter as my tenant was paying 3/4 of it....

    At this point I knew I Was on to something and was definitely hooked and realized this is a fantastic way to build wealth, equity and get ahead.....

    This was almost 20 years ago and I am still going have 15 properties 28 doors that I self manage while work a full time job.

    It can be crazy sometimes but I love this business and would be nowhere close to where I am at financially if it weren't for Real Estate.

    Definitely takes drive, passion, the want and desire, some risk taking AND a lot of hard work.  The younger you are starting out the better as you have time on your side. I definitely made a lot of sacrifices early on by living at home much  longer than I had to and living very frugally... Sometimes you have  take a step back to move 2 steps forward...

    If you can think it, you can achieve it!!

    Chris

  • Investor · Moscow, ID · Member since 2017 · 107 posts · 76 votes
    9y

    @Jay Hinrichs Reading that you were able to put your children through college debt free is one of the better successes I've read. Well done.

  • Investor · Elgin, IL · Member since 2016 · 27 posts · 14 votes
    9y

    Great question! I always wondered about that. "Five hundred units in five years!" How the heck do you do that, where do you get the money?

    I have 5 units now, and for me, it was a combination of sources, but the biggest one was my parents. They bought a condo for me with cash in 2011, it was a $62K foreclosure, . Three years later I was able to refinance it, appraised at $140K, I took out a HELOC of $105K and financed the acquisition of my remaining 4 units. My wife and I have good jobs and about $20K in savings, but were it not for that condo, we would never begin investing.

  • Investor · Prescott/Tempe, AZ · Member since 2013 · 73 posts · 57 votes
    9y
    I saved my first and second property down payments my working second and third jobs. It may not sound cool or sexy, but it's what I had two. It took working about two years of additional side jobs per down payment.
  • Investor · TX · Member since 2015 · 393 posts · 290 votes
    9y

    We had some luck, but we've also done an incredible amount of work.   I work 12 hour shifts at night with a 2.5 hour roundtrip commute, so on the days I work, I'm wiped out.   My wife and I are in our 50's.   2 years ago, we made the conscious decision to get out of debt so we could retire a little early.   I had been stupid with money all my life.  But because of my wife's encouragement , we came into a bit of money.

    She encouraged me to try out for a TV game show, so I did, and managed to make an appearance and won 61,000 dollars.   With that money we paid off our vehicles and RV and all other debt we had.  We then sold all of those vehicles and bought older, cheaper for cash.  Always amazes me when I drive up to one of our properties now in my 2003 Ranger and all our tenants drive newer cars that you know aren't paid for.  

    We then decided it was time to sell our pretty little place in the country and downsize to a house in town.  We were able to buy a house with cash.  And had enough left over for a 2 house rental property investment down payment.  

    Then we decided to take a lien on our house we bought for cash and use that money to buy several more rent houses. Since that time, we have also taken withdrawals from our IRA for down payments. If a house will give me a 15-30% cash on cash return, then I have no problem paying the 10% penalty to withdraw that money. And the taxes? Well, that money will be taxed at some point anyway, so I consider that a wash. 10% penalty on down payment is usually around a grand, so I don't worry too much about it, if the CoC return is still good.

    I do ALL the rehab, repairs, maintenance and whatever, unless I have to call an AC guy.   It's an incredible amount of work, but I mostly enjoy it, and we have met our goal of 10 properties.  Soon, I will walk away from the job I hate and all that work will pay off.

  • Investor · Moscow, ID · Member since 2017 · 107 posts · 76 votes
    9y

    ... @Roger S. you can't just tell us you won $61,000 dollars on a gameshow without filling us in on the details.

  • Investor · TX · Member since 2015 · 393 posts · 290 votes
    9y

    @Travis Dawson   LOL.   Ok man, I'll give you some details.  Just know that we were happy as hell about the 61k, but I'm still upset that nerves cost me a chance at a whole lot more.

    This is gonna be a little long.

    First of all, the show was "Who Wants to be a Millionaire, back when Meredith Viera was host.  I applied online, then had to fly to New York for a written test. At my own expense.  There were about 150 of us there, and 7 of us passed the test.  I have no idea what a passing score is, but I was 100% sure of 28 of my 30 answers.   Then, those 7 of us were interviewed and given a screen test.  They wanted to see if we were personable and if an audience would root for us.

    Then a week or 2 later I got a card in the mail telling me I was in the pool.  That's not a guarantee of being on the show, just that I was in the pool of possible contestants. 

    A few months later we get the call to show up in New York for a couple of days to be on the show, again, at our expense.  

    While waiting, I made my first tactical mistake.  I watched every youtube video I could find of people missing the first question.  These people were crucified for that.  I vowed I wouldn't miss it no matter what.   The format of the show at the time allowed a contestant to skip up to 2 questions.  Each question had a dollar value assigned to it, and the values and questions were in random order, so your 1st question could be super easy for 25k, or super hard for 100 bucks, you didn't until after you answered or skipped it.  I was so psyched out, I might have skipped it if they asked me my middle name.

    So, anyhow, heart beating, dry mouthed, here comes the 1st question, and even before the answers show up, I knew it.  But then one of the answers gave me a tiny bit of doubt, and my mistake of watching all the crash and burns, cost me.  I skipped that question, and of course, my answer would have been correct.  I don't remember the dollar amount, wasn't huge, but it was a lifeline I would wish later I had back.

    Then I breezed through the next 8 questions, only using my ask the audience for a question about Broadway or music producers, and since I don't follow pop culture much, and the show is taped 2 blocks from Broadway, I figured that was the time to use that lifeline.

    Come to question 10.  Here, you have to understand that the way the rules were then, if you got past question 10, the question went back to the old format.  4 questions worth 100k, 250k, 500k and 1 million.   if you walked away any time before question 10, you got to keep half your money  if you made it past question 10 you could walk away with all of it. If you missed a any question of 10-14 you walked with 25k.  I had 61.6k at the moment.

    So, question 10, and it still haunts me today was about Wendys hamburgers, specifically the Baconator.   LOL  At the time, I had been living in Malaysia for over a year, and there was a Wendy's near by, but it was the only one I'd ever been too, and hadn't seen any commercials for it.  And being a Muslim country, they didn't serve bacon, so didn't have the Baconator.

    Anyways, I probably could have figured it out, but again, I was risking a lot of money, and some Jackwagon in the audience shouted out the answer.  I could see it in Merediths face that she knew I didn't know it, so I just couldn't bring myself to say an answer she knew I got from some guy in the audience.

    So, there went the 2nd skip the question and that was my last lifeline.  So, here comes the 100k question.  "In the 2010 womens French Open tennis tournament, the were 32 players who all had last names ending in which syllable"  A, "Enko", B "Ovic", C "Ova", D" Eva".   CRAP!!!!.  REALLY?  LOL  So, I'm thinking, Kournikova, Sherapova, I knew those, but I don't follow tennis at all.  So, 61k, in the hand, or take a chance and have a 3 in 4 chance of losing 36k.

    So. I walked away, but I'm still haunted by question 1 and question 10.  One of them I knew, and one I had the right guess.  Those 2 lifelines would have allowed me to skip Hot Russian tennis players and get to see at least the 500k question, and I'm pretty sure at least one of those 3 I would have known.

    So, there you go, sorry you asked yet?   LOL

  • Investor · Dublin, OH · Member since 2015 · 75 posts · 24 votes
    9y

    @Dustin Ruff I totally get your frustration. Here is a simple example, when you decide to buy say a Honda Civic or Accord, you will start noticing a lot more Honda Civics and Accords on the road, this has nothing to do with a sudden increase in those cars, but just that you have become more receptive to those particular cars. Now that you have started to read up and educate yourself,your brain will be wired to see those opportunities everywhere now and this is exactly what that famous quote "luck is when opportunity meets preparedness". 

    Keep the fire burning in you, I started seeing a lot more opportunities and channels for finance once I started educating and talking to people.  

    The other big thing I have noticed is the personality of each individual. 

  • Dawn AnastasiPro Member
    Rental Property Investor · Milwaukee, WI · Member since 2013 · 6k+ posts · 4k+ votes
    9y

    This is a great thread. 

    I also didn't get much family help. Growing up, we were very poor. Sometimes, my parents didn't have enough money for the telephone, sometimes electricity. I knew that there was no paying for college like some people's families. I worked hard in school and did get a scholarship. I majored in computer science then switched to information systems at a state school. I paid for all my own schooling and books, save for one semester's worth of books my dad was able to help out with. I had a few jobs during college.

    After college I worked for a consulting firm, and never stopped learning. I became a very good consultant because I was always patient with people when they were upset (tech support issues). I also did a lot of project management.

    I was always very frugal due to growing up poor so I quickly paid off my student loans (what I had after my scholarship).

    These skills helped out greatly when I went into real estate. The customer service aspect helped me manage tenants and work with contractors. The project management helped me manage rehabs. And still, I never stopped learning.

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