Envision
Legendary Contributor
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
User Power
Value/Post Ratio
779%
- May 5, 2014
- 861
- 6,707
Welcome,
I wonder how much traffic Tai Lopez brings to this forum. If you stick around you'll find pretty much everything you need to know about entrepreneurship and business on the forum.
First, I would read The Millionaire Fastlane . If you don't you're wasting your time because you wont get the depth of what people say from the forum.
Once you've read the book you'll see why need/value trumps passion and you can operate from that mindset.
You will need money to invest in real estate - So if you don't accumulate too much debt in school and have a good outlook once you have a degree you may want get a really good job that can finance real estate investments. Otherwise you will need to focus on saving your income and increasing it so you can invest the funds (entrepreneurship).
Describe what this means, "I recently invested a couple thousand dollars in a real estate development company to help kick star my dream which resulted in becoming their intern"
The way you're perceiving REI seems a bit off. I don't believe you can have an REI company once you have scale. This is a slow game. It will take years to get to the level where you will have a team and will operate at that level.
If I were you, and I have been you, I would do this, and I have done this.
Determine what you want to do - Your Strategy
My overarching strategy is buy and hold simply because to reach my goals I don't believe my time is best spent doing things that don't produce consistent cash flow.
You may find partners, you may househack, you may find seller financing deals but it all correlates back to buying and holding.
Determine how you will do it. - Your Education
You probably have no idea how to invest in real estate. Learn it, go to biggerpockets.com and study, attend local REIA meet ups in your area, and pick the brains of smarter people. Read books, listen to podcasts, and devour the information that's out there. And realize you know nothing and be willing to learn.
Do it. - Act on your plan.
To clarify, this is the part where you work for 55-60 hrs a week(not including your startup) for 12 months straight making shit money and saving every penny and after you've sacrificed your nights out and your fun you'll have 10k In your bank account that you can use as a 3.5% down payment using an FHA loan and you close on your first small multi family property.
This is also the part that doesn't pay off for the next 20 years, but the compounding effect of these actions repeated over and over and at scale is what will make me (and you if you choose) a multi-millionaire.
If you want to invest in real estate just do it. If you want to be a lawyer do it. But don't dabble, don't waste your life half assing things because you'll look back and you wont be where you want to be.
Create your goals and fit your actions to meet them.
I wonder how much traffic Tai Lopez brings to this forum. If you stick around you'll find pretty much everything you need to know about entrepreneurship and business on the forum.
First, I would read The Millionaire Fastlane . If you don't you're wasting your time because you wont get the depth of what people say from the forum.
Once you've read the book you'll see why need/value trumps passion and you can operate from that mindset.
You will need money to invest in real estate - So if you don't accumulate too much debt in school and have a good outlook once you have a degree you may want get a really good job that can finance real estate investments. Otherwise you will need to focus on saving your income and increasing it so you can invest the funds (entrepreneurship).
Describe what this means, "I recently invested a couple thousand dollars in a real estate development company to help kick star my dream which resulted in becoming their intern"
The way you're perceiving REI seems a bit off. I don't believe you can have an REI company once you have scale. This is a slow game. It will take years to get to the level where you will have a team and will operate at that level.
If I were you, and I have been you, I would do this, and I have done this.
Determine what you want to do - Your Strategy
My overarching strategy is buy and hold simply because to reach my goals I don't believe my time is best spent doing things that don't produce consistent cash flow.
You may find partners, you may househack, you may find seller financing deals but it all correlates back to buying and holding.
Determine how you will do it. - Your Education
You probably have no idea how to invest in real estate. Learn it, go to biggerpockets.com and study, attend local REIA meet ups in your area, and pick the brains of smarter people. Read books, listen to podcasts, and devour the information that's out there. And realize you know nothing and be willing to learn.
Do it. - Act on your plan.
To clarify, this is the part where you work for 55-60 hrs a week(not including your startup) for 12 months straight making shit money and saving every penny and after you've sacrificed your nights out and your fun you'll have 10k In your bank account that you can use as a 3.5% down payment using an FHA loan and you close on your first small multi family property.
This is also the part that doesn't pay off for the next 20 years, but the compounding effect of these actions repeated over and over and at scale is what will make me (and you if you choose) a multi-millionaire.
If you want to invest in real estate just do it. If you want to be a lawyer do it. But don't dabble, don't waste your life half assing things because you'll look back and you wont be where you want to be.
Create your goals and fit your actions to meet them.
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.
Last edited: