Being a lazy millennial is starting to pay off

Being a lazy millennial is starting to pay off

Rental Property Investor · Cleveland, OH · Member since 2016 · 653 posts · 769 votes

I’ve always been the laziest person I know. By far. From childhood, I never really saw the point of having a job. I knew some people didn’t have jobs, but made a ton of money and did whatever they wanted. I just figured I’d rather be one of them instead. Classic Rich Dad Poor Dad move, I know.

The “old” people in my life were all regretting their younger years and talking about how they can’t wait until they retire at 65 to go on a cruise with a hoard of other 350lb diabetic retirees. Well, guess what, I went on a cruise when I was 15. Why should I have to wait another 50 years to do it again?

I’m a millennial. I want to be lazy now. Not when I’m 65.

My peers at college were all excited about being adults and getting jobs. Meanwhile, I was doing everything I could to not get a job. I had to get creative since I didn’t have a whole lot of support on my mission of laziness. I built websites, sold photography, flipped cars, day traded stocks, started a house painting business, etc., but had this weird dilemma at 22 years old where I still wasn’t rich. In fact, I was as broke as ever. So I did the most rational thing I could think of and moved to Australia, the magical land where people intentionally lose money in real estate.

One real job and a few more failed side hustles later I wanted to get serious about real estate. But banks won’t even let me through the front door. All my failed endeavors led me to be a “strategic business consultant,” meaning “I’m an expert at driving a business into the ground so you should pay me to tell you what not to do.” It’s not the most stable line of work.

Anyhow, a year ago I found some well paying consulting gig that could be done via my trusty MacBook. I ended my lease in Melbourne and somehow saved $25k while partying around Europe all of summer 2016. I’m very serious about real estate at this point, obviously.

Got back to the US and went, oh, apparently you can’t buy a house in Seattle for 25k with no job. Damn. But it turns out you can in Cleveland, Ohio. So back to the airport I went.

After aimlessly driving around Cleveland for a week, I remembered that if I wanted to truly fit in with the other millennials, I had to be broke. So I had no choice but to get rid of the 25k or be forever exiled by my peers.

At the airport, on my way back to Seattle I signed a cash offer for $24.5k on a rundown duplex. It’s not like I’d spend all $25k, duh. I’m no idiot.

Nope, just kidding. I might be just a little bit. It was a disaster. Everything went wrong. But at least I’m back in with the hipsters. As long as I don’t tell them I’m cash flowing $850.

Flash forward 8 months and you’ll be glad to know I’m still as lazy as ever. But damn, being lazy is a lot of work. I suppose that’s why I’m using 100% someone else’s money for my next deal. The deal I just now e-signed while sitting in my underwear on the couch. The same deal that inspired this fine literary achievement. A couple more deals like this and I can retire and be full-time Funemployed.

Now, my next challenge as an overly entitled millennial is figuring out what to do with the next 39 years until my friends retire. I’m open to ideas.

Well, I’m getting hungry so I’m going to wrap this up and get started. You’re only 26 once, I guess.

Time to put some pants on and go for brunch. 

Ryan

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Investor · Tampa, FL · Member since 2011 · 2k+ posts · 3k+ votes
9y

I thought this post was satire, poking fun at grumpy old people complaining about lazy millennials, as it seems like you've done quite a bit of hustling. More hustling than your peers who just settle down in a job they hate and have to get drunk enough every weekend to forget about work until Monday. To me that's lazy, not you. 

The only comment I would make it if you're truly planning on retiring from rental income you will need much more than a couple more deals like this. Your entire yearly income could get wiped out if you run in to a big expense. I think you've got a lot longer to go than you think you do, but congrats for being on the right track...

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  • Investor · Youngstown, OH · Member since 2017 · 2k+ posts · 2k+ votes
    9y

    @Matt M. He'll need some more, but with a family comes a second income. 

  • Joe SplitrockPro Member
    Moderator
    Rental Property Investor · Sioux Falls, SD · Member since 2015 · 9k+ posts · 18k+ votes
    9y

    @Ryan Evans I enjoyed the satire. I am personally getting board with the lazy millennial story. I am a Gen Xer and when I was younger we were called the slacker generation (watch the movie Reality Bites to see how we were once portrayed). The funny thing is that Baby Boomers were called hippies and the Greatest Generation were flappers. Every generation is portrayed as lazy and reckless when they are young. The truth is when you are young, you are naive and that gives you the freedom to try new things. Sometimes dumb things and sometimes amazing things. Experience reduce the mistakes, but also stops you from taking risks. Then you get old and cranky, only to pick on a younger generation for doing the same things you once did. Millennials will some day make fun of a younger generation and the cycle will continue.

    Millennials in many cases are working more hours than their parents. They are hardly lazy and if anything they are overloaded. That is because thanks to technology, we no longer leave work. Sitting in front of a computer is work, even at a coffee shop. Millennials have no job security like their parents. Gone are the days of working at the same company your entire life. Millennials have no pensions, so if you are not saving for retirement, you will suffer in your old age. Owning your own business is the only option that gives you security.

    Now go take a nap in your parents basement. Then have a cup over overpriced coffee while you "work". Don't forget to load a selfie up on "The Snapchat" to your 2000 friends, because everyone cares what is going on in your life. Polish up your participation trophy's, because in life it doesn't matter if you win or loose, as long as you tried. And remember the hipster motto. We are all trying to be different, yet ironically we all look the same. 

  • WorldWide · Member since 2016 · 1k+ posts · 1k+ votes
    9y

    You've left the most interesting part out - the deets on the rehab! Looks like you've got plenty of time to write it out in more detail. Here's some inspiration for you while you're sipping on your chocomochalatte:

    https://www.biggerpockets.com/forums/522/topics/464525-investa-brothel-the-odyssey

    P.S. At least you're not lazy to reply to people (looking at Benjamin).

  • Investor · Orange County, CA · Member since 2015 · 2k+ posts · 3k+ votes
    9y
    Originally posted by @Ryan Evans:

    @Joseph M. Cheers! The technology definitely makes it easy to make money these days. I mean, if you can't find a job you can just go drive for Uber and make $40k a year. Not ideal, but better than living with mom and dad. I wouldn't mind moving to a place with a backyard so I can get on rover.com (airbnb for dogs) and have people pay me to play with their dogs while I work from home! haha

    I'm buying near the Waterloo Arts District, a good neighborhood-level example of what Cleveland is all about in my opinion. It's a bit dumpy, but slowly becoming cool! I post a lot on Cleveland so have a gander at my other posts if you're interested. So far I've been swinging the hammer on a lot of the work, but I've contracted out a bit. Looking to get less involved in the future, though. 

    @Brenna Walker you might have me beat in some regard. But rather than getting a job, wouldn't a true lazy person get another investment property to pay off your first one so you don't have to get off the couch? ;)

    @Matt M. I think @Joseph M. makes a point. Another first world problem of mine is so many of the single ladies in my "target market" are only focused on getting their psychology degrees and working at Starbucks. We don't have a lot in common, to say the least. Or maybe it's that I'm too humble. Either way, kids are probably a ways out. But if you know anyone, tell em to PM me haha! 

     The problem Matt points out is real, but no worries ... it has an easy solution for a lazy millennial ... two words: sugar momma :) ... it is just as easy to fall in love with a rich girl than it is with a poor one...

  • Julie MarquezPro Member
    Investor · Skagit County, WA · Member since 2016 · 1k+ posts · 807 votes
    9y
    I always wanted to be a lazy real estate investor, but so many people here and featured on the podcast make their mission to go big. So speaking of lazy, it reminds me of my goals, just have a 5 homes that cash flow $2000 each, instead of 50 homes that cash for $200 each. My definition of lazy is just low key. I like that you are different/alternative, maybe you'll spend 40+ hours a week in real estate, but maybe that entrepreneurship is your jam, and that's not necessarily lazy. I enjoyed the write up, and I also love brunch!
  • Colorado Springs, CO · Member since 2017 · 10 posts · 3 votes
    9y

    Not sure how you mention someone...however! @David Faulkner : my brother tried that approach. He now has six figures in consumer debt and not much to show for it.

  • Rental Property Investor · Cleveland, OH · Member since 2016 · 653 posts · 769 votes
    9y

    @Nicole Heasley Beitenman Hopefully I can utilize my single days to grab many more properties while following @David Faulkner 's advice! I should explore the sugar momma market here in the PNW haha. 

    @Joe Splitrock you're right and I think a lot of people label mislabel a generational issue with the fact that young people just have different priorities. They take risks, travel, and do all the fun stuff before getting "settled down." Living in the information age means there are more ways to make money, but also more ways to lose it. And it's easy to see the middle class is dying out. I'm just doing what I can to be on the right side of it :)

    @Victor S. It's going to take a lot of coffee to write that piece! It's quite the story so one of these days I'll get around to it. Or maybe I'll get inspired with enough audience requests haha. 

    it involves a raccoon, an eviction, a 3-month closing, crackheads, a snowstorm, and about 5,000 lbs of garbage! 

    @Julie Marquez I hear ya. It's easy (I assume) to get wrapped up in investing and let life start slipping by. My goal is 20 doors by 2020 and at that point, I could surely focus less on real estate and more on whatever I so decide every day when I wake up. No doubt that will involve more travel, but I'm doing that in the meantime anyway. 

    I don't want to be a billionaire, I just want to make enough money so I don't have to think twice about adding guacamole :) 

  • Investor · Orange County, CA · Member since 2015 · 2k+ posts · 3k+ votes
    9y
    Originally posted by @Brenna Walker:

    Not sure how you mention someone...however! @David Faulkner : my brother tried that approach. He now has six figures in consumer debt and not much to show for it.

     Bummer! Sounds like his sugar momma tried to turn him into her sugar daddy and now they are all out of sugar.

    Sugar or no, all kidding aside, getting married will either be the best or the worst financial decision that you ever make, and in my experience it will be one or the other without a whole lot in between. 

  • Dunbar, WV · Member since 2017 · 16 posts · 8 votes
    9y

    @Ryan Evans If it involves crackheads and 5,000 lbs garbage it definitely sounds like a story worth being told.

  • Investor · Fort Walton Beach, FL · Member since 2015 · 568 posts · 966 votes
    9y

    @Ryan Evans Lol. Very interesting. I've tried writing funny-ish pieces to no avail so kudos to you. 

    24.5k for a rundown duplex sounds like a steal. Hopefully it's a C class area

    We are the same age and I lived in New Zealand for several years. I hope you at least made a side trip over there while you lived in Australia! If not, well, it should be on your list :)

    When I was in college, I could relate to some of what you said. People my age seemed to be worrying about the silliest of things and knew nothing about personal finance (they were too busy trying to spend our 0% interest NZ student loans - it covered living expenses too). But, in grad school I met some cool people. 

    And now as a real estate investor - I've met some seriously amazing people. Some are our age. Some days I wished I skipped college altogether and just jumped in to real estate. But I was in NZ back then and had no idea I'd be in this industry. Oh well, things happen for a reason right :)

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

    Always a hoot to read about those living on day dreams. Sad that when reality hits in their 40s they have to finally wake up, realise they can not survive their senior years based on their meager income and savings,  and panic sets in.

    Too little too late for those relying on dreams when real life knocks them down. 

    The future call of so called lazy and old millennials.....Help I've fallen and can't get up.

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

    Great thread, I thoroughly enjoyed it and can relate as I can be extremely lazy (after all why do you think I love passive income so much!! :)

    Starting to build your Real Estate empire when you are young and not tied down to anything or anyone is HUGE IMO. I started at 22 with a 4 family (I was single living at home) and am almost 45 and hopefully closing on my 16th rental (28 doors) I self manage, am married with 2 kids work a full time job as a Sys Admin in NYC and have over an hour commute each way to work from NJ!  OK maybe I am not so lazy after all  :)

    Back to my point as you get older, get married have kids things get harder to do, more expenses, kids, 529 plans, 401k savings Etc...  Best advice I can give is get started young so that you have time on your side and can work in your favor.

    While it is never too late to get started in Real Estate starting younger really can give you a big advantage!

    You can do anything if you want it bad enough and put your mind to it!

    Chris

  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    9y

    @Ryan Evans nice use of satire! Pretty funny stuff. Yeah, most of you millenials are lazier than hell (try hiring one for any kind of 'real' job that needs doing!) but you're also pretty good to be around, for the most part :D   

    Now get the hell off my lawn!

    Skyline Properties
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  • Investor · Saint Louis, MO · Member since 2016 · 970 posts · 1k+ votes
    9y

    @Ryan Evans

    Congrats Sir! Looks like you've been living the dream and doing it efficiently. I just think it's funny how some of the older folk don't see the humor in what you posted and are quick to find "flaws". Keep up the great work and show em  how its done

  • Realtor · Charleston, SC · Member since 2016 · 229 posts · 159 votes
    9y

    Don't make it sound like you're that lazy and that unintentional bro. You arent that lazy at all, and the fact you dont like to wear pants is not a matter of laziness its a fashion preference. It sounds like you just dont like the traditional pathway to retirement and that is fine. If you were lazy, then none of this would have materialized and you would be at your moms house waiting for her to make you brunch. @Ryan Evans

  • Investor · Saint Paul, MN · Member since 2015 · 663 posts · 512 votes
    9y
    Laziness isn't a good trait in fact I'd be embarrassed to admit that if it were me. If you have so much time on your hands why don't you want we don't you volunteer full-time and help someone else beside yourself. Are you going wrong is simple math and defined as compound interest. If you do something as simple as maxing out your Roth IRA's for 30 years you'll be a millionaire tax-free. Starting at a young age is beneficial because you could become a multimillionaire by investing in index funds. I know this is a real estate website but that is a very easy way since you call yourself lazy.
  • Rental Property Investor · Westminster, MD · Member since 2014 · 165 posts · 221 votes
    9y

    I love this post, thank you for sharing, i am currently finishing up my first investment property (foreclosure,REHAB, moving in, Refi,sell or rent in 18 to 24 months, while renting out my first house) As a newly 30yr old millennial i feel exactly like you do, keep it up and create the empire you dream of, doesnt matter if thats 3 properties or 300!

  • Flipper/Rehabber · Los Angeles, CA · Member since 2009 · 1k+ posts · 732 votes
    9y
    I think sometimes working "smart" can be viewed as being lazy . You can buy a property or multiple properties in a day or week , but it takes time to learn and understand what makes sense and how to do it right. The thing is people don't see all that time spent reading books , forums , speaking to other investors etc . " Lazy people "can sometimes be creative people "I choose a lazy person to do a hard job. Because a lazy person will find an easy way to do it." Bill Gates
  • Long Beach, CA · Member since 2016 · 44 posts · 21 votes
    9y

    @Ryan Evans great post and love the sarcasm. Millenials are people too ;) Those who stick to generalizing with those titles just come off as grumpy old fogeys, resentful of youth and their predecessors who generalized them with some other goofy name. Keep up the hustle (or being lazy as you call it).

  • Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes
    9y
    Originally posted by @Julie Marquez:
    I always wanted to be a lazy real estate investor, but so many people here and featured on the podcast make their mission to go big. So speaking of lazy, it reminds me of my goals, just have a 5 homes that cash flow $2000 each, instead of 50 homes that cash for $200 each. My definition of lazy is just low key. I like that you are different/alternative, maybe you'll spend 40+ hours a week in real estate, but maybe that entrepreneurship is your jam, and that's not necessarily lazy. I enjoyed the write up, and I also love brunch!

     Prosperity through simplicity is the theme of a book a read a while back.

  • Rental Property Investor · Cleveland, OH · Member since 2016 · 653 posts · 769 votes
    9y

    Well thanks for the encouragement everyone, or mostly everyone haha. 

    @Arianne L. I sadly got too wrapped up in the Aussie way and never made it there. In hindsight I would have skipped college and gone into real estate or spent more time traveling, but what can ya do? I keep reminding myself that 26 is still pretty young to get started in REI.

    @Thomas S. I get quite a bit of advice from those types - people my age with a "real job" making $20 an hour, saving only $50 a month, and falsely presuming someone else will take care of them in the future. It's a scary notion of what they have ahead!

    @Chris Mason Shoot, you beat me to it by 4 years! Awesome you've been able to keep growing your portfolio all the while. Seems most people use the family as an excuse, but guys like you show us that you can have it all! 

    Thanks @David Zheng ! Some folks can definitely be a bit too literal at times. 

    On that note, I sort of see where you're coming from @Marcus Johnson , but working for 30 years sounds like a lot of work. You might be embarrassed, but fortunately, I don't have that problem because I don't care what anyone else thinks of me.

    Awesome @Patrick McGrath ! And remember, the first one is usually the hardest! Dear lord I hope that's true haha. 

    @Joseph M. I've literally used that quote before when being interviewed by a client. It worked, too! 

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