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I just wanted to share a quick story of how this forum almost saved me making a costly mistake, by slipping into the scripted mindset of servitude, stress and anxiety.
See, I banked my first $40,000 from my digital business (mostly from affiliate marketing) and decided to purchase a property using almost ALL of that money as the down payment + fees.
A huge part of that is listening to and seeing many people around me who have owned the property they live in, and made a bunch of money with it through appreciation over the years.
However it’s not until a purchase price was accepted, and I started going down the process, I saw it for what it was.
Lawyer fees, mortgage fees, surveyor fees and gosh knows what else fees before even moving in. (That’s not even taking into account any ongoing costs that would have no doubt sprung up).
What’s more, I would of had zero emergency fund after making the purchase.
The further down the road I went with this transaction, the more stress piled up, I stopped going to the gym, started putting on more body fat.
Couldn’t feel like I could go on dates anymore as it’d put me at risk financially when moving in, so was saving everything I could.
After a while I took the time to step back, and looked back at an old thread I posted, MJs advice to me was to instead keep renting, and focus on building the fast lane business and stacking more cash so that buying a property doesn’t cause mental gymnastics.
Sense kicked in, and I cancelled the purchase as hadn’t signed anything yet.
I was almost sucked into the script, even though I could have easily afforded the monthly payments, it seems I needed to experience the pain myself of almost making such a purchase prematurely first hand. Despite losing a few thousand in fees along the way.
However, on the positive side of this experience, in my desperate attempt to get the cash from somewhere to pay for everything, I ran into an opportunity with a partner to do a fastlane joint venture with. I have a feeling it’s going to go super well and we are already making great headway.
It feels amazing to be working as a team, focusing on my strengths in the business rather than trying to build everything solo.
Sometimes making stupid decisions puts a fire up your backside to make things happen, but thats definitely no way to live life.
Thought I’d share for anyone else that’s thinking of subscribing to the script and societal dogma of buying a property as soon as you get the deposit together, with little thought of the internal financial stress that comes with it if you don’t have reserves.
(One market swing, or loss of income after moving in without backup $$$, that would be stress to the ridiculous).
Purely focused now on stacking cheddar and building a productocrisy.
See, I banked my first $40,000 from my digital business (mostly from affiliate marketing) and decided to purchase a property using almost ALL of that money as the down payment + fees.
A huge part of that is listening to and seeing many people around me who have owned the property they live in, and made a bunch of money with it through appreciation over the years.
However it’s not until a purchase price was accepted, and I started going down the process, I saw it for what it was.
Lawyer fees, mortgage fees, surveyor fees and gosh knows what else fees before even moving in. (That’s not even taking into account any ongoing costs that would have no doubt sprung up).
What’s more, I would of had zero emergency fund after making the purchase.
The further down the road I went with this transaction, the more stress piled up, I stopped going to the gym, started putting on more body fat.
Couldn’t feel like I could go on dates anymore as it’d put me at risk financially when moving in, so was saving everything I could.
After a while I took the time to step back, and looked back at an old thread I posted, MJs advice to me was to instead keep renting, and focus on building the fast lane business and stacking more cash so that buying a property doesn’t cause mental gymnastics.
Sense kicked in, and I cancelled the purchase as hadn’t signed anything yet.
I was almost sucked into the script, even though I could have easily afforded the monthly payments, it seems I needed to experience the pain myself of almost making such a purchase prematurely first hand. Despite losing a few thousand in fees along the way.
However, on the positive side of this experience, in my desperate attempt to get the cash from somewhere to pay for everything, I ran into an opportunity with a partner to do a fastlane joint venture with. I have a feeling it’s going to go super well and we are already making great headway.
It feels amazing to be working as a team, focusing on my strengths in the business rather than trying to build everything solo.
Sometimes making stupid decisions puts a fire up your backside to make things happen, but thats definitely no way to live life.
Thought I’d share for anyone else that’s thinking of subscribing to the script and societal dogma of buying a property as soon as you get the deposit together, with little thought of the internal financial stress that comes with it if you don’t have reserves.
(One market swing, or loss of income after moving in without backup $$$, that would be stress to the ridiculous).
Purely focused now on stacking cheddar and building a productocrisy.
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