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Updated about 4 years ago,
Slow and Steady Grind
Like millions of others, inspired by 'Rich Dad Poor Dad', I found myself bitten by the REI bug.
Years of watching youtube, reading books, listening to podcast, and owning 2 SFH's was the result.
As with any ambitious and motivated investor, I want to scale and grow my portfolio. With 2 SFH's, I am not exactly at square one, but I do feel behind the curve. Once you have a large snowball, it's easy to knock down 2-3 houses a month, but I am not there yet.
It seems like I am trying to roll this small snowball uphill, at times.
My risk tolerance is a little less now that I am a father of 2 beautiful little girls, but I also appreciate the great tool of leverage. What I currently shy away from and do not feel comfortable with is the lease-option/land-contract/no-money-down type of investing-- which may very well be my hindrance.
I like to save up for a down payment and buy outright. I'd love to save up enough to start the BRRRR method, but seems that would put me behind a year or two.
Also, my only mentors have been whom I've read or seen on youtube. Robert K., Brandon T., Graham S., and countless others. I have no in person mentors or friends who invest, which may also be another hindrance.
I find myself starved of motivation at some points, no mater my level of resilience. I know REI is a slow and steady race, but I would love to have +20 doors right now.
Currently, I am saving up for a down payment; as I wait for that savings to build, I am emersing myself into more books and the BP Community.
Has anyone, whilst building up from 1-2 house to +10 doors, experienced these types of emotions?
What were some things that broke the mold for you and pushed you past the initial 1-2 door phase?
Have you pushed through this journey solo? Or was a mentor what really kicked things off for you?
Any input is appreciated!
-Joseph Miller-Hall