The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

INTRO Aircraft Mechanic seeking fastlane!

James90

New Contributor
FASTLANE INSIDER
Jul 2, 2019
12
12
17
Aloha from Hawaii,

I’m 29 years old and have decided to start my Fastlane journey. I was browsing through RE investment blogs and somehow stumbled upon @JScott real estate thread. I was immediately hooked and discovered a wealth of information on other threads.

I’ve been lurking for 6months and thus decided it was a no-brainer to hop on aboard the Fastlane train and be apart and contribute to the community!

Currently still reading Thefastlane Millionaire whenever I can squeeze in time for reading. Just about finished with the slow lane portion, and super excited to dive into the Fastlane portion. I’ve made it a deal where I wouldn’t skip chapters like I usually do with most books.

A quick intro about myself, I went the University route straight out of high school, mindless pursuing multiple courses in hopes to get “a degree” and “a career” in business. I had an epiphany one day and realized why am subjecting myself to irrelevant electives/courses and wastefully spending an entire semester stressing and cramming information that’s not building towards my career subject.

I dropped out of Uni during my sophomore year, and move to Seattle to attend a trade school as an Aircraft Mechanic. I got my certificate in 2 years, zero debt, moved back to Hawaii and got a job working for a legacy airline averaging about 100k. I’ve been in the industry for 5 years, a relaxed work schedule, 5 weeks of vacation, and of course travel benefits.

During my time at work, I first got a taste of Fastlane with Airbnb arbitraging 5 properties through subleasing contract. This eventually leads me to purchase my first investment property and adding a fee simple property to my Airbnb listings. My entire Airbnb operation was nearly automated. I thought I was flying high at the time. Taking vacations around the world, and at the same moment is collecting checks through my Airbnb bank account. This all came crashing down when the State of Hawaii starting cracking down on multi-listing hosts and installed strict short-term rental laws. Although a minor set-back this made me realize I need to be much more adaptive and not have all eggs in one basket! Improvise-adapt - and overcome!

This is where the Fastlane forums have fueled and supplemented my hunger for knowledge, perspective, and ideas!
As of recent, since my job allows major downtime (we work on a fireman's schedule) I was able to obtain my Real Estate license to legitimize myself in Real Estate Investment and leverage the MLS for myself. I'm slowing building new skills and opportunities to create a buffer to fuel my Fastlane endeavors!
Nice to meet you all!:)
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Suzanne Bazemore

Silver Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 30, 2018
338
667
269
Welcome to the forum, @James90! I am about to start real estate investing myself, and I also decided to get my license to help. I take my test on November 15. I've been leery of AirBnb for the very reasons you are talking about - municipalities are catching up with laws regarding them so you have to be really careful - especially in places where the tourism industry has a strong lobby. New Orleans did the same thing.
 

Ing

Contributor
Read Millionaire Fastlane
Jun 8, 2019
124
74
56
Hi, a friend of mine started a airplane repair service in New sealand. After 2 years he had 6 employees. He had a heart attack than and went away, but he had big success there. Maybe a way?
 

Suzanne Bazemore

Silver Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 30, 2018
338
667
269

Primeperiwinkle

though she be but little...
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Nov 30, 2018
867
2,496
540
DFW
I can totally use my flight benefits to attend! One less expense to worry about! Thank you, although I feel like I still have a lot to learn before rubbing elbows with the greats!
We’re ALL learning! It will be great having you!

ETA: I heard the seafood is not trustworthy but besides that it’s gonna rock! Rofl
 

Suzanne Bazemore

Silver Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 30, 2018
338
667
269
Welcome to forums :)

I guess such laws will be more common with time.
I agree, @Kid - if I do AirBnb, I will make sure I have an exit plan, and to prevent getting caught by the laws, I would probably buy in a place that is zoned for multi-family.
 
  • Like
Reactions: Kid
OP
OP
James90

James90

New Contributor
FASTLANE INSIDER
Jul 2, 2019
12
12
17
Welcome to the forum, @James90! I am about to start real estate investing myself, and I also decided to get my license to help. I take my test on November 15. I've been leery of AirBnb for the very reasons you are talking about - municipalities are catching up with laws regarding them so you have to be really careful - especially in places where the tourism industry has a strong lobby. New Orleans did the same thing.

Right on! Good luck with your test! Although with the strict short-term rentals laws implemented in Hawaii, it has made it a gold mine for "legal" rentals with vacation rental certificates that were grandfathered in 30+ years ago. It was something I wish I had the funds at the moment, I would have capitalized on those properties. More than 2,000 listings were wiped off instantly on the first day of the law. This has created a huge market capture for the legal units. Always got to anticipate the shift... lesson learned.
 
OP
OP
James90

James90

New Contributor
FASTLANE INSIDER
Jul 2, 2019
12
12
17
Hi, a friend of mine started a airplane repair service in New sealand. After 2 years he had 6 employees. He had a heart attack than and went away, but he had big success there. Maybe a way?

I believed with a localized repair service it will suffice because most major aircraft repair stations are popping up all over the world, with very cheap labor compared to the U.S. I have considered it in the past, but although I do enjoy my current profession it's not something I see myself doing for more than 10+ years. Wrenching and troubleshooting is cool, but not when your joints and ankles can't keep up:hilarious:
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.


Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Sponsored Offers

Lex DeVille's - Advanced Freelance Udemy Courses!
-- HALLOWEEN SPECIAL STARTS TODAY! Get any of my courses at Udemy's current best price through Friday! Use code: HALLOWEEN Use any of the links...
Top Bottom