Kudos to you for posting this because you are SO on-point. So many podcasts with rags to riches stories.. but they never tell you the whole story. So thank YOU for being real. That is a rare trait these days. A glimpse into my story-- zero money. Racked up a credit card learning about real estate from a guru. A friend of mine did the same. He found a deal, wholesaled it to me. I had no money. I went to an investor I knew that was flipping in my area and asked him if he would joint venture with me and split profit. He agreed. He brought the money, we brought the deal. Made 20k each. Took that money, paid off some debt and put some aside. Found another deal, did another joint venture with a money partner. Paid off some debt and put some aside. Worked full time for years upon years while learning and getting a marketing machine up and running. My full time job paid my bills, my flipping paid off debt and allowed me to set money aside to have "skin in the game" for HML and PML. Once I was flipping 3-5 houses a year (3 was enough to replace my full time income) for 3 years in a row, I "retired" from my job to flip full time and buy rentals full time. BUT... my husband is also a realtor, so we have income from that too. AND.. now we are both self employed... with no health insurance.. bc despite being healthy it is more expensive than my mortgage payment on my house... LOL! I bring that up because people are also so pumped up about leaving their W2 jobs.. and I like to let them know.. that's great.. just know that once you do, you don't fit into anyone's box. Not the government for health insurance, not your bank, no one. So BE PREPARED to show you have been flipping for several years before bailing out so you can do things like cash out refinances on rental properties, etc.
