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

[Namtab]

@Namtab - You can post on my progress thread and I can answer. I don't want to take away from OP's thread. https://www.thefastlaneforum.com/community/threads/2016-year-of-the-hustle-250k-net-profit.64780/

awesome, great news!

 

[LeftBench]

Glad to see things are coming together for you.

Thank you for the kind words and your post. I hope all works out for you as well, it sounds like you got an awesome deal for yourself and your family!

 

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[LeftBench]

Awesome job!

Thanks, Andrew!

 

[LeftBench]

Great work dude. You've got the right stuff.

Thanks my man! These words mean so much to me.

 

[LeftBench]

Great progress, man. A lot of people talk about selling everything off to wipe the slate clean yet hardly any ever actually do it.

Those Jeeps are great, btw. Treat it good and it'll do the same to you.

Thank you so much, mws87. And my mechanic said the same thing!! He believes I should get much more mileage out of it... and now that I'm living with my parents temporarily, I'm doing much less driving. Its working out great so far. I'm definitely going to be strict with the maintenance on it.

 

[Andrew87]

You guys are kicking a$$!! Keep it up!! Are you planning on still being a police officer if you move? With the way the people hate us these days sometimes a career change doesn't seem so hard to believe. Stay safe out there brother!


Sent from my iPhone using Tapatalk

 

[arfadugus]

I,I,I,I,me,me,me,me

 

[LeftBench]

I,I,I,I,me,me,me,me

Please elaborate my friend!

 

[arfadugus]

Please elaborate my friend!

Sorry your original post didn't seem like you had actually switched to a fastlane mindset. Otherwise you wouldn't have been reffering to yourself so many times.

 

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[LeftBench]

Sorry. I posted my original response before I read the rest of the post. My second response was after which is why I said sorry ha So sorry again

All good!

 

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[Andrew87]

So hows the new house coming along???


Sent from my iPhone using Tapatalk

 

[Niptuck MD]

IMO, you need to earn your way out of this. While there is some wisdom and much good meaning in the advice to cut and run for a better position, that would be reactionary.

Create a cashflow. Use the blog to move a product or something along those lines. Use the time you spend on security shifts to contemplate. (I did security for a while. It's mind numbingly boring. An overnight watch is a good place to think through the next day's actions. That may be where you figure out what your product is.) Use that cashflow to pay down the debt a bit and create an equity position in your house. Use the time that takes to brace your family for the reality that this is too much house and as soon as you get ahead enough to make a move, rent out the suburban palace and move into a duplex or a triple) with your family. Spend a couple years in it, then move back to the palace and rent both sides of the duplex. If you hold onto your current property for a couple of years you can pull this off. It's about a 5 or 6 year (or 10 or 12 year) plan. You just have to not drown in the mean time.

You could maybe flip this house and move into a duplex if you are not going to make it work where you are. One thing I learned expensively is that holding on to a bad house out of stubborn pride and hopes that appreciation will make me whole again can backfire spectacularly. I lost a bunch of money that way not long ago and it stings. If this house is too much, let it go. if it's almost too much, then earn your way into the position where you can make it work.

That's my free internet advice.

BEST $0.02

 

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[LeftBench]

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

Thank you so much for your post man!

 

[LeftBench]

Just read some bits of this thread and there is something so earnest, humble, and warm about your words that compels me to just wish you and your family the best! God bless you!

Your well wishes and your post are greatly appreciated. Thank you SO much man!

 

[Rdayley]

Being "House Poor" is a horrible way to live life. Tell me that at least you bought a fixer upper (not just paint and some landscaping) that you can build equity into. I wish you luck.

If it truly is a fixer upper and you can build a good amount of equity into it, I would do that and sell it for a home that you and your family can better afford. Use your saving to invest in other projects to bring in cash flow.

 

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[Mike Stoian]

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.

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

 

[Mike Stoian]

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

Probably true

 

[Andrew87]

I'm gonna upgrade and buy a massive house!

Just kidding. Not doing anything special.

What's next? Re-reading TMF , read Unscripted , get more involved in the forums, and focus on becoming a Fastlane Millionaire.

And staying out of debt

Any updates?? I hope you and your family are well and kicking a$$!!

 

[Cpatton88]

So...you're bragging about your Pool and 3 Car garage in Jersey, except you can't pay the bills?

Have you thought about selling the house and renting, and putting the rest of the money into a business?

He definitely is not bragging. He has acknowledged out loud the bad spot he put himself in and he is using this as his motivation to kick it in gear. This situation will be his drive to succeed.

 

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[VikingRobotHpstr]

What a journey this was. Glad to read about your progress, @LeftBench. Thanks for sharing.

 

[woken]

Resurfacing this for other people.

Read through all 7 pages.

Massive discipline! Congrats!


However, I do have some questions which can be answered by anybody living in the US.

How does one go into credit card debt by tens of thousands of dollars without student loans?

Do banks give you that much credit and you just use all of it to keep up with the Jetstones & end up paying only the interest?

I’m only 25 and have a credit card with a £250 limit. Not looking for bigger ones. just asking, how do people get into this kind of debt?

 

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[Guest-5ty5s4]

Resurfacing this for other people.

Read through all 7 pages.

Massive discipline! Congrats!


However, I do have some questions which can be answered by anybody living in the US.

How does one go into credit card debt by tens of thousands of dollars without student loans?

Do banks give you that much credit and you just use all of it to keep up with the Jetstones & end up paying only the interest?

I’m only 25 and have a credit card with a £250 limit. Not looking for bigger ones. just asking, how do people get into this kind of debt?

The credit card companies figure out what you make each year and give you a large limit based on that. And it can be difficult to keep track of your spending when it doesn’t automatically show up on your statement.

But the real problem is most people don’t think twice about spending the money they traded their time for.

 

[woken]

it doesn’t automatically show up on your statement.

I get some credit cards don’t update on an instant but how long are we talking? monthly? Cause mine updates every day

 

[Private Witt]

Resurfacing this for other people.

Read through all 7 pages.

Massive discipline! Congrats!


However, I do have some questions which can be answered by anybody living in the US.

How does one go into credit card debt by tens of thousands of dollars without student loans?

Do banks give you that much credit and you just use all of it to keep up with the Jetstones & end up paying only the interest?

I’m only 25 and have a credit card with a £250 limit. Not looking for bigger ones. just asking, how do people get into this kind of debt?

Not sure how now but back in early 90s when I was in University at age 18 with zero income I was able to get a bunch of cards with limits of 2k each, total of 10k. I never maxed out but got in trouble with 5k card debt at age 23 and no student loans, thankfully had full ride for both BS and M.Ed.

 

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[Guest-5ty5s4]

I get some credit cards don’t update on an instant but how long are we talking? monthly? Cause mine updates every day

Mine can take a week to show a charge. Regardless, point is, lots of people don’t keep track of their spending and just buy whatever they feel like, even though they’re broke.

 

[Black_Mamba_427]

Resurfacing this for other people.

Read through all 7 pages.

Massive discipline! Congrats!


However, I do have some questions which can be answered by anybody living in the US.

How does one go into credit card debt by tens of thousands of dollars without student loans?

Do banks give you that much credit and you just use all of it to keep up with the Jetstones & end up paying only the interest?

I’m only 25 and have a credit card with a £250 limit. Not looking for bigger ones. just asking, how do people get into this kind of debt?

lol I've got £50K/monthly credit card limit @ 29 in the UK - but I barely use it. Only use it for booking holidays or rental cars for protection/when I have to. Used to use it a lot for the cashback and pay it off in full the next month - but now use my crypto.com card for that as I get like 3% cashback.

I know a ton of people in the UK who are 5 figures in credit card debt. They do it by spending more than they earn and then once you have like 90% interest, they end up paying off only the interest or parts of it and it all just snowballs worse and worse.

Credit/debt when used properly is an amazing business leveraging tool. When used recklessly, it can be a nail in the coffin.

 

[AppMan]

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.

Not sure why this thread is marked as gold , there is the gold here ? just because he shine the MF form?

OP : I have a friend who also bought big house , and he had to start his business and he succeed , but he is still working his a$$ off 7 days a week

 

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[unicon]

ZERO BASED SPENDING WORKS EVERY TIME
THE DE-CLUTTER CONCEPT, NOT ATTAINING ANYTHING, GIVES VISIBILITY BY JUST REMOVING CLUTTER
THE ASSET UNSEEN SURFACES

 

[Hayden Aquilon]

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.

Tell me you still own the home and its worth 3x more now lol.