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Updated about 7 years ago on . Most recent reply

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11
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4
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Tyler C.
  • Milwaukee , WI
4
Votes |
11
Posts

The struggle is real...

Tyler C.
  • Milwaukee , WI
Posted
Hi! I’m a recent grad (kinda-c/o2016) & I want to buy a duplex in Milwaukee,WI. My plan is to rent out one unit and live in the other. Between student loans, bills and just adulting, it would take me years to comfortably fund this investment. So I started shopping around for a personal loan. The loan I was offered seemed great initially but prepayment penalties & pre-compute interest made me feel uncomfortable about moving forward with it. Next, I try wholesaling and it’s been unsuccessful thus far. Now I’m working on a few different grant applications but the process can take a while. Before I get too discouraged, do you all have any suggestions or success stories on other ways to generate funds for REI? ...in 6 months?

Most Popular Reply

User Stats

1,144
Posts
1,140
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Jeff Filali
  • Rental Property Investor
  • Broken Arrow, OK
1,140
Votes |
1,144
Posts
Jeff Filali
  • Rental Property Investor
  • Broken Arrow, OK
Replied

I give this "outline to success" to a lot of people I mentor, some listen and some don't, but its what worked for me and many others.

Step 1: Get a job earning X amount of money

Step 2: Get a second PT job earning Y amount of money

Step 3: Get a third PT job earning Z amount of money

Step 4: Wake up earlier daily, grind as many hours as you can, go to bed, repeat...

Step 5: Figure out how to live off W (less then you earn)

Step 6: Open a savings account and put your savings into it (X+Y+Z)-W= S (Savings)

Step 7: Listen to positive people daily who are motivating. I would suggest Eric Thomas, Gary Vaynerchuk, Grant Cardone just to name a few I listen to daily. All these guys are very rich, but they didn't start off that way, they got off their butts and outworked everyone else.

Step 8: A year or two from now, once you've grinded your butt off and saved as much as you can, you will be able to start investing your own money in real estate!!

No Free Rides!! To be successful in this life, you must be willing to put in the GRIND!!

Best of success!! Keep Grinding!!

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