How do you balance the wants vs. needs game while still enjoying life today?

Quote from @Luke Machen: Hey all - I'm new to the RE investing game and have some (probably dumb) questions regarding cash on cash returns.

While the rates can be a bit higher, the ability to work with a lender who understands your specific needs and timelines can make all the difference.For larger projects, private lending can be a game-changer.

The best way I have found to learn is to be in the game. 

Think of it as free vs pay to play video games.

Quote from @Danny Gonzalez: @Paul CijunelisSo I’m not in the IL market, but I’ve owned a PM company for 5+ years, and here are some lessons I wish I’d known when starting out:1.Hire a VA Early: If you haven’t already, bringing on a Virtual Assistant is a game changer.

I would venture to guess that Kiyosaki has made much more money from books, board games, and licensing his "Rich Dad" brand than he ever did in real estate.

As you have mentioned in the past, you should not put more than 10-15% of your money in one investment - so if you have $500k and want to throw $50k ok - but it still hurts. if its your first and only 50k, there are plenty of other opportunities out there to get in the game for lessFor many - Goes back to greed and FOMO as well, last few years everyone and their brother wanted to jump in on the STR and MF space because of these great returns - no different than NFT's and bitcoin before that, but when something moves up quickly, it typically drops pretty quickly as well.

Most seller finance notes have interest rates in the 9-10%+ range.Also, 5% down is very little skin in the game for the borrower.

I am new to the real estate game.