Why I am scared to be financially independent?

Buying & Selling Real Estate
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Why I am scared to be financially independent?

Jacob Graul
Altoona, AL · Member since 2017 · 30 posts · 13 votes

Ok, this is going to sound very different but.....

I am not quite exactly where I want to be with my goals yet at 26 years old (10k a month cashflow on PAID OFF properties) [NO DEBT] but I am however VERY VERY close. I told myself that once I reached my goal I would quit my full time job (still remain in the military reserve for insurance and 2nd retirement) and focus strictly on the growth of my business. But I don’t really even know how to quit, I don’t know what % of my income would be appropriate to live on (very frugal) but I do know I do not want to live my life and raise my kids working a 9-5 that’s why I have spent most of my adulthood in the Middle East making $ to acquire more cash flow. What age did you quit? Was you in shell shock at first or started hustling harder? Did you gratify yourself immediately or manage your cash flow responsibly? Did your business actually grow? Any more insight or advise would be great! PS I’m not opposed to leveraging properties I just set this 10k month goal on paid off properties and I attend on achieving very soon.

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JD MartinBusiness Member
Moderator
Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
7y

Well, you're too young to do nothing. So rather than just quitting, you should focus on how you might reallocate your time towards accomplishing your goals - whether that be building your business, maintaining your business, starting a new career, becoming a volunteer monster, etc. 

I haven't/never quit but I'm closer to the end of my career than the beginning, and will have to answer some of these same questions whenever I go.

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  • Andrew Cornstubble
    Rental Property Investor · Sedan, KS · Member since 2016 · 125 posts · 92 votes
    7y

    @Jacob Graul you guys with properties paid off should check out some of the horror stories of lawsuit theft.

    If you are like me everyone in your life has prided themselves in saving money and working hard rather than real estate. And the only taste of real estate I had as a kid was my folks buying the trailer park we lived in. And I swore I'd never get into real estate. But I don't want to work overtime until I die for someone else. So here I am. I don't know. Maybe set down and write up a strict budget. Track your spending down to the dollar. Then see if you can work part time in case it backfires?

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  • Jacob Graul
    OP
    Altoona, AL · Member since 2017 · 30 posts · 13 votes
    7y

    @Henry Lazerow

    primarily mobile homes on multiple tracts of land. We do however have 4 owner finance homes in addition to the mobile home rentals.

    1Reply
  • Kai Van Leuven
    Investor · USA · Member since 2015 · 325 posts · 447 votes
    7y

    @Jacob Graul

    I recently made this transition. It is actually really strange and odd. At first I kept going at 100+ hour a week burnout. Then I started sleeping in until 10am working until 2pm and calling it good.

    At some point I asked myself, “what is it I really enjoy about this real estate thing?” To me it is troubleshooting home problems and working on houses. Now I am back to 40-60 hours a week working on places and managing my very small but profitable portfolio.

    I also like your focus you put on the Lord. I really left my 9-5 because I realized that my side hustle was taking too much time to focus on my family and faith. After 10 years of working like a dog, lots of things fall through the cracks. I didn’t want my kids/wife to know me as a workaholic.

    1Reply
  • Jay Helms
    Rental Property Investor · Gulf Breeze, FL · Member since 2014 · 1k+ posts · 733 votes
    7y
    Originally posted by @Jacob Graul:

    Ok, this is going to sound very different but.....

    I am not quite exactly where I want to be with my goals yet at 26 years old (10k a month cashflow on PAID OFF properties) [NO DEBT] but I am however VERY VERY close. I told myself that once I reached my goal I would quit my full time job (still remain in the military reserve for insurance and 2nd retirement) and focus strictly on the growth of my business. But I don’t really even know how to quit, I don’t know what % of my income would be appropriate to live on (very frugal) but I do know I do not want to live my life and raise my kids working a 9-5 that’s why I have spent most of my adulthood in the Middle East making $ to acquire more cash flow. What age did you quit? Was you in shell shock at first or started hustling harder? Did you gratify yourself immediately or manage your cash flow responsibly? Did your business actually grow? Any more insight or advise would be great! PS I’m not opposed to leveraging properties I just set this 10k month goal on paid off properties and I attend on achieving very soon.

     Also nothing wrong with keeping your W2 and becoming a W2 Capitalist so you can EARN. INVEST. REPEAT. Check out the podcast. 

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