Bought a huge house with a 3 car garage and a pool!

[Bila]

You got some tough love from the guys ( which is their role, and let's just say that they do it pretty well ), keep your head up, focus and good luck ...Keep us informed about how you plan on managing your debt.

 

[DeletedUser394]

AM I BEING DETAINED??!?!??

been wanting to post that for a while...

Anyway, best of luck in your future endeavors. Sure you may have screwed up, but there are far worse things you could have bought. You've got a good salary/career, and worst case scenario you just sell the house and downsize.

Good luck!!

 

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[jlwilliams]

No need to be sarcastic.

 

[LeftBench]

BTW, god bless your dad

He is a great man - I am VERY lucky and blessed to have him in my life!

 

[biophase]

Without knowing how much debt you have, I would sell your car now and get the beater now. Why wait until end of winter. You are paying $525 every month you have it. You can get a decent 4WD SUV for $5000. Every month you wait to do this is $500 down the drain and it sounds like $500/mo is a large amount to you.

 

[Unknown]

Awesome thread. There are plenty of ways to get started with almost no money when you're ready. I recommend finding products at a discount and selling them on Ebay. It's a great way to start making extra money. Many people on the forums have used writing to get started (every time I try I manage about 3 pages before I'm staring at the computer at the same line for an hour ), and that's something you can do for very little money.

I used to use the Ebay approach every time I wanted to buy something. It was well before I found TMF , so I only ever did just enough to get whatever stupid thing I wanted to purchase next. You don't even have to leave your house to pull it off (I suppose you might have to walk to the mailbox or maybe go to the post office). Join a deal website and start checking each night for deals that you could turn a profit on. It'll be hard to spot a deal at first, but eventually you'll start seeing the profit before you even check the Ebay price. It's not necessarily fastlane, but it can help you get there.

Getting out of that much debt is an impressive feat in itself.

 

[LeftBench]

you gotta post a pic of the jeep... I like them.

Hey brother I am having some issues with my computer but here's a link to a pic of my Jeep from my IG page. https://www.instagram.com/p/BCbAMhwFwoO/

Hope it works. The Jeep is nothing special, just a 2000 Jeep Cherokee Laredo. But she runs nice and gets me around.

 

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[LeftBench]

Any updates?


Sent from my iPhone using Tapatalk

Thanks for the interest Andrew! Not much to update at this time. We are still chipping away at the debt and have been living with my parents for a few months. Things are going pretty well, its amazing how much money we can put towards debts when we have so very few bills. We did have a few setbacks where we had to spend some money that we rather would have thrown into debt, but hey, life happens.

We're in the process of making some really big life changes which include a cross country move. Pretty exciting stuff but I don't really want to give details yet till things are set in stone.

We aren't out of debt yet but we're getting there!

 

[Young-Gun]

And now I'm up to my eyeballs in debt.

I make a decent living from my Slowlane job, but obviously its not what I want in life, which is why I am here. Recently my family and I upgraded to a much nicer home on a bigger piece of land. I knew that money was going to be tight, but didn't realize it was going to be THIS tight. We've been racking up some debt on the credit cards and are just barely able to cover all the bills. I have a few loans that will be paid off soon, making it easier to make sure all the bills will be paid, but I'll definitely still be living paycheck to paycheck.

This is possibly the best thing to ever happen to me though. I needed a kick in the a$$ to get myself back into the Fastlane mindset. Now that I'm feeling the heat knowing that I need to be making extra money to keep this roof over my family's head, I KNOW that I will succeed.

Thanks to the MF book and this forum, I have a much different MINDSET than I had years ago. I am making different CHOICES and I am experiencing a level of MOTIVATION that I've never experienced before. Old me would be blaming my poor choices on bad luck, my job, someone else, etc. New me is using this as a motivator to go out there and find some needs and kick some a$$.

Have a great night all.

Hey @LeftBench , I just wanted to say, I read every word of this whole thread, and I learned a TON from your attitude and spirit.

Dude, your level of self-confidence and personal respect to open yourself up like this, allow people to judge you and give you (sometimes) harsh feedback... I was so impressed. You don't shut down or argue back, you just open your mind and heart further and let in the good parts and accept it all.

I'm also in debt, though I've been pursuing a Fastlane income for years and still feel confident that I'll reach it.
But, I related so much to the sense of making mistakes and trying to push them down, down, down and out of my conscious mind.
And then sort of having it all burst to the surface, can't ignore it anymore, and the sense of transformation that can come afterwards.

To give some unasked advice from my armchair, I'd say: Keep LOVING your family every minute of the day, we both know NOTHING matters more than that. You have SO MUCH in your life and you're soooo lucky. And I know you know that.

When it comes to the Fastlane - and I'm still walking that path myself - I highly recommend that you focus on "decoupling your time from your income." For a busy Father, Husband, and Fastlaner - earning a single "passive $1" is worth $100 earned from an hour at work, imo. And, your first successful Fastlane venture doesn't need to be huge - just enough to cover your family's expenses - which this entire lesson has taught and trained and developed you to keep low with your Wife as a team.

If you had a small but Fastlane income, decoupled from your hours of work, then you could spend so much time with your family, and have the mental space and clarity to come up with an even BIGGER Fastlane venture for your 2nd Act that would not only provide for your family, but also vastly expand their horizons and opportunities - if you wanted to go that route!

And either way, your kids and wife would have the benefit of your time and energy. I can tell by your words that your kids are lucky to have you as their dad.

Thanks so much for all the updates (keep em coming!), and I'm sending you best wishes with your Fastlane ventures

 

[c_morris]

t's about taking control and reclaiming your freedom by simply getting out of debt.

Discipline is rewarding, and it's a step all of us can take, no matter where we are in the process.

I was just thinking about this yesterday. Debt elimination is one of my main goals, as is replacing my current income working for myself, even if it isn't a Fastlane venture.

No debt + no boss = freedom to me. That said, divorcing my time from my income is still a major goal of mine, but it's just a little longer term.

 

[luniac]

This scares me worse than buying the house. Why, oh why man.

This reminds me of when my coworkers gloat about how they worked SO MUCH OT that their paycheck was HUGE!

LMAOOOOO!!!!! im like "well you did put in massive hours into that "HUGE" check!!!"....

Silly stuff...

 

[LeftBench]

You got some tough love from the guys ( which is their role, and let's just say that they do it pretty well ), keep your head up, focus and good luck ...Keep us informed about how you plan on managing your debt.

Thank you for the kind words Bila. Tough love isn't the worst thing in the world, I'm definitely not here to be coddled! This place is fantastic.

 

[Bila]

I think your kids look pretty happy in the photo and I would imagine you and you wife love your new home our you wouldn't have bought it.

You now have a reason to work harder than you ever have before so I think it is a good thing.

I am the opposite - I have no debt, cash in the bank to take a couple of years off work, a great credit line and credit rating, no kids, no girlfriend or urge to make any big purchases. I rent a small 2 bed apartment, I rarely drink, I don't smoke or do drugs. I spend my weekdays waking at 5am doing 70 hour weeks and then going home to work on my own businesses, my weekends are spent either working on my own business or visiting my mother and father. I have paid for my car, although it is a 4.8 litre bmw (which is the only thing I waste money on).

Am I any happier than you are? Probably not. I have more freedom than you have, but when your house is paid for, you will have a nice lump of cash sitting there.

I don't think you made a mistake, I think you overstretched yourself and you have now exchanged your free time for time to work, but enjoy the house and the smiley family photos.

Try your damned hardest to switch to fastlane in the meantime and keep doing what you need to do, we have plenty of time to sleep and relax when we are 6 feet under.[/QUOTE
Such a wise response.

Such a wise response

 

[Bila]

BTW, god bless your dad

 

[FreshStart87]

While everyone makes mistakes, the major issue with mine is that I've already read TMF and I've been a member here for almost 2 years. I should have known better. It is what it is. I will turn things around.

Gangsta

Much respect for owning up to your issue. In the end its just going to make you stronger and get you to the fastlane faster. Keep working towards your goals.

 

[LeftBench]

Just read this part here and after tearing out my hair my brain exploded.

Questions:

Is your storage unit outside or indoors in a temperature controlled environment? You know what happens to stuff stored in outdoor units? Bugs, rodents like rats and mice, extreme temperature, moisture, theft... in other words, if you leave that stuff there long enough, it won't be worth shit or even usable when you get it out. You'll have paid storage fees only to come out with garbage.

Is the stuff you are storing even viable for your new downsized lifestyle? Will it fit in a smaller house or apartment? You really don't want to be in a situation where in a year or two, you've paid $1,000s to store a dining set that isn't usable in your new space, and it's resale value is $200. And that's even if it survives, which isn't likely if the unit isn't indoors in a temperature controlled environment.

By selling this stuff now instead of keeping it, you'll save all the storage fees you would have otherwise incurred and also you'll have more money to pay the debt down faster. There are some great hustling threads on the forum.

Hi Bananas,

I should have mentioned that we have sold tons of stuff. When I said 85% of our stuff has been moved to the storage unit and my parents' house I really meant 85% of what is left. We've sold / thrown out / given away a large amount of our belongings. TONS of stuff... I'm actually really proud of myself because in the past I've been the type of person who has a hard time getting rid of stuff, I always seemed to find some stupid reason to keep things. Not anymore.

All couches have been given away or thrown out (except one left that is being given away the day before closing). Kitchen table and chairs will be stored at my parents' house but it can be taken apart and takes up minimal space. The only furniture we have put into storage is our dining room set, which was pretty expensive when we bought it (for us). Mostly all other stuff we are keeping in storage is in boxes.

Our storage unit is outside but has been lined with protective plastic wrap which will help greatly with the moisture. The extreme cold or heat should not affect anything in there as far as I know. As far as rodents are concerned we have put a mouse poison trap inside the unit but have also been advised that there is rarely a bug or rodent problem within the units. Most of the stuff inside should be unaffected hopefully. We've done a storage unit at the same place in the past for about one year and had good results. We got a 10x15 foot storage unit which costs $138.00/month after taxes. My co-worker's brother works there and was able to get us a deal at $104/month after tax. While it would be nice to have the $104/month to put into the debt, I figure it's a small price to pay to hold on to some personal belongings that I can't fit into my parents' house. Especially since after the house is sold we will have $3500-4000 per month freed up to dump into the debt.

Hope it didn't hurt when your head exploded But seriously thank you for the advice.

 

[LeftBench]

Good to hear your progress.

Great advice on communicating with your significant other too.

Thanks Andy!

An important thing I've learned is that sometimes having the hard conversation now will pay off big time later!

 

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[LeftBench]

So hows the new house coming along???


Sent from my iPhone using Tapatalk

Thanks for asking bro! Been a while since I've checked in. The house is coming along great. We are not living there yet but we have owned it for a bit now. We've been doing some work to it and getting it move-in ready. We are actually hoping to be in there come March 1st. We will see!

Still chipping away at debt, still chipping away at fitness. A few road bumps along the way, but all things that can be measured and managed.

Much happier these days for sure. Still lots of work to do!

 

[KSR]

@LeftBench I just completely read through all 7 pages, wow is all I have to say.

It was seriously a rollercoaster of emotions... ranging from all the way to . Biggest grin on my face when you sold that house, paid off most of your debts, sold your car - paid off more debts and now you have you own very modest, yet beautiful house again (only realistic now).

I even stalked your IG for a little bit with that picture you posted with your Jeep (steal!), your family seems happy and that alone is way more important than any underground pool, or three-car garage. You've created memories by taking your family to Disney Land (World?), that alone is better that any long driveway.

This whole thread I was rooting for you, but don't forget the people who helped you along the way! That's a gift alone, you've got a beautiful, supportive family/extended family who have helped you through hard times - don't forget where you come from when your Fastlane adventure excels.

You've inspired me - this thread has taught me a lot. Live within my means, until your means broaden. I hope you keep us all updated regularly, for some reason I've felt a strong connection to this thread even though I can barely relate.

Stay healthy and stay wealthy my friend.

 

[minivanman]

Being in the house cleaning business, I saw many families like yours was. The difference..... they were in over their heads and either didn't know where to turn or didn't want to face reailty and not look like a big shot to their friends. Your family on the other hand, did the right thing and it seems as though you are very happy. Your future looks bright! Stay happy.

Oh yeah, about the straying from your budget.... who ever reads this..... it's ok, we all need a little pick me up every now and then. If you are trying to get your life straight like this family did, just pick up the budget today, where you left off before and you will be debt free before you know it.

 

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[msufan]

Don't wanna be mean, after all I'm talking out of my a$$ but that sounds a lot like sidewalk to me

Keep reading...

 

[LeftBench]

My impression is your place is quite spacious - any way to AirBnB or sub-let it to ease your financial burden? Rent out parking spaces? Then you won't need to OT and you'll get more time to work on your fastlane project.

I will look into these ideas. Thanks!!

 

[BigBrianC]

Awesome first step. When I first started reading about stocks and the market, the most common trap I saw for new investors was never cutting their losses, the dead cat theory. I know I mentioned freelancing before, but if you haven't, read this thread https://www.thefastlaneforum.com/co...ith-no-degree-no-feedback-no-portfolio.58837/. Also read the threads on eBook writing. The reason I recommend more online based is because then you have no excuse as to why you're not using your "waste time".

Also, may I recommend doing something like waking up in the morning an hour earlier, spending 30 minutes on a workout and 30 minutes on business ventures? It may seem crazy but you will feel great afterwards and your day will be much more productive.

 

[mkaul]

Hello @LeftBench,
How you going?

check out this story, how this guy got himself out of bankruptcy using Airbnb. He even has a course laid out.

https://au.pfinance.yahoo.com/money...28470252/how-this-guy-made-200-000-on-airbnb/

Cheers,
mkaul.

 

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[Bouncing Soul]

Well done, especially not taking Dad's money. Way to man up, all too absent in this world today.

It took us 3 years to get through debt, and then we sold our house to move to a cheaper house (and state). We felt so rich when we got here (and got distracted by babies and sleep deprivation )we didn't work our plan as aggressively as we might have. I totally disagree with the "fake it until you make it" mentality, but there is a kernel of truth in there it forces you to hustle. As you cut your burn and your slowlane feels faster, careful not to lose motivation or get sloppy. It happened to us!

 

[Jon L]

Don't mean to bring back an old thread but I just wanted to give an update.

The house is officially on the market. We might make a few bucks off the home which would be nice. The plan is set to rent a cheap place after the house sells. We will be moving in with my parents in between the sale of the home until we find a rental.

We are going to move to the town we used to live in, the town I work in currently at my slow lane. It'll be a shorter drive to work and more time with family. More time to dedicate to a Fastlane venture as well.

I've paid down credit card debt considerably but still have a ways to go. Once we are relieved of this mortgage then I'm going to dump a ton of money into the CC debt till it is gone.

It took me a while to put the house on the market, but I'm glad its finally done. Our realtor honestly believes we will get $25k - $55k more than we paid for it just 9 short months ago. While that would be nice, we will just be happy to get rid of it with enough to take care of the closing costs.

Hope you all have an excellent weekend!

We did mostly the same thing as you, then sold our house, took the money we made off of it and paid down most of our debt. Now, I'm freelancing and barely making enough to pay the bills, but its worth it because once I figure out this 'fastlane' thing, I'll be making a lot more money than I am now.

So will you. I know what that whole process is like. Its hard, and a bit exciting. Congrats on moving so far so quickly. It took us 5 years to sell the house.

 

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[kwad]

Ended up here from another thread and ended up reading the whole thread front to back on the last night of my holiday....

@LeftBench this is epic, you're epic. Well done for sticking this out and being a shear inspiration to everyone. Not just in what you've achieved but also how to conduct yourself on these forums.

I can't help but think that your honesty with your wife has help to build a solid foundation as a husband and a father. I'm really excited for your future.

Stay blessed


Sent from my iPhone using Tapatalk

 

[FreshStart87]

Don't wanna be mean, after all I'm talking out of my a$$ but that sounds a lot like sidewalk to me

Sounds Slowlane that you probably only read the intro. Left bench is a friend of mine and he’s a whole lot more fast lane then you

 

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[LeftBench]

I'll be the contrarian here. No need for despair at all. Every day, LeftBench wakes up to ... motivation! Beautiful surroundings that he provided for his family. Now, this provides motivation in a couple of ways. Yes, there's the negative motivation of wanting to hang on to it and not slide backwards. On the positive side, his surroundings should create a "prosperity consciousness" that will drive him to create the wealth he desires. Some here think he's boxed himself in because he doesn't have the funds to start his fast lane business. However, just glancing at the threads adjacent to this one on the forum, I see several providing advice on how to generate income right away with little or no upfront cost, in one's spare time. Would an extra $1,000/week help the OP pay down some of that debt and fund a "fast lane" start up?

Cheers,
O-2

Thanks for this post! I'm definitely focusing on debt reduction before funding my fast lane start up. A lot of the success stories you see out there happen after someone fails at something, makes a large mistake financially, or is at rock bottom. While I'm definitely not at rock bottom, I screwed up and am going to put a positive spin on it and come out just fine.

 

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[LeftBench]

Talk is cheap. Start an INSIDERS thread and get specific or put a counter in this thread and list daily how much debt has gone down.

Just working some OT is not a fastlane plan.

Just working some OT .... AND starting a hustle thread ... AND importing two product samples .... AND doing some side consulting work for a fee is a fastlane plan.

Good post, you make a lot of great points. Working overtime is definitely not a fast lane plan.... If it was I'd be a Fastlane billionaire!

I'm definitely hustling... I will consider making threads about my endeavors or getting more specific about my debt. Like I said, right now I'm focusing on blogging and podcasting. A semi saturated market at the moment but there is lots of money to be made in the right niches.

I've been working side security gigs, OT at work, and selling unneeded items online, but these things are definitely not part of my Fastlane plan. Just bringing in extra money.

As far as a counter:
CC debt is about 18k
We will focus on that for now and I will keep folks updated. Will get more specific about other bills/debt when I get a chance to sit down.

First time using Tapatalk, hope this post works.



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