Here is the deal. I finally need to get real and lay it all out on the table. So short background and then I'll give it all away to see what you have to say.
My wife and I officially started investing in real estate 2 years ago when we spent every dime we had saved on our home and renovated the basement to have renters. We both had just graduated from college (with no debt) and had no idea what we were doing. Long story short and with some hard lessons we now have renters and they pay 3/4 of the mortgage with very little maintenance. It is incredible.
Our goal is to have 10 rental properties (duplex triplex fourplex) bought, paid for, and fully rented before I turn 50 (23 years from now) so we can be financially free and take on the world. Then I started to read, listen, and study and I now feel that dream, though reasonable, is just drastically undershooting the potential that we have, and saving the freedom for the end of our lives. I'm sure that goal can be reached and exceeded long before then. I listen to these guys on the podcast with hundreds/ thousands of doors under their belt and living the dream that I have. I know it can't be easy, I have listened to hundreds of success stories and it takes incredible persistence and determination, but now is the time to start.
Here is what I have:
- $40,000 in cash (thanks to my amazingly frugal wife)
- A home that is currently 10% paid off (thanks to our amazing renters)
- a $90,000/ year W2
- 0 debt other than our house
- More drive, passion, and grit than anyone else
So my question is... who has been in my shoes, and what are you doing now/ have done to accomplish the dream?
It is now my time.
I look forward to learning from the true winners within bigger pockets.
