I just joined the forumn this afternoon and I don't think it could have come at a better time! I've already read a few posts and threads already and it appears there is a wealth of information for aspiring wealth seekers on this site.
I thought I should give a quick intro about myself...and maybe ask a few questions? (Is that okay to do in your first post? If not, I'm really sorry!!)
I'm 30 years old, married and live in NYC. My wife and I are both originally from the Midwest. I've read all of the RDPD series and have read many other books, etc on success, real estate, etc.
I work as an associate for a real estate firm. (No, not with Trump!) I have been an associate for 2 years and before that was an analyst for 2 years. I enjoy my job, but I've begun to see that I am stuck in a job. My wife is an out of work teacher, unfortunately. (Unfortunate about the "out of work" part, I am very proud of the fact that she is a teacher).
Anyway, like I said above, I think I found this forumn at a great time. This real estate downturn has really hurt our family. I took this job with the hopes of being the next Donald Trump. I thought I would learn for a few years and then by now be on by own doing deals. Well, apparently starting a real estate firm in Manhattan is a little more tricky than that. And on top of that, it seems like a 75-80 hour a week commitment for the rest of my life, not what I had in mind. (I always thought they way to go was to bust your hump a start a company, sell it 5 years later for millions, then be retired).
So that brings us to today. With my wife being out of work and my salary not being enough to cover 2 ppl living in Manhattan, we are starting to worry. My wife has many thousands of dollars of debt from grad school and I still have some on ccards and from my undergrad. We are probably close to $100k in debt and my salary is less than $100k.
My wife thinks its time to move back to the midwest, but I don't want to. I don't think moving to a lower cost of living state would make that much of a difference right now. I mean, wouldn't we both get paid a lot less also? I could see the point in moving if you had a business that you ran and could run from anywhere - sure, why not keep more $$ in your pocket every month. But not sure it is the answer right now.
My wife is also ready to start thinking about kids - she is concerned about waiting too long to start our family. I understand and respect this, but it sure puts us in a time crunch financially. She is thinking she wants to start having kids in the next couple of years.
I know myself well and I know what I like, what I dislike and what I want my life to look like now and in the future. I am a very good implementor/executor of ideas and plans, but not a great idea guy. And I feel like right now I need a great idea!!! And I'm not hell-bent on staying in real estate - I just need to make some $$ to stay above water for awhile.
Wow, that was probably WAY too long for my first post. Hope I didn't bore you to tears.
I look forward to participating,
Tyorke
I thought I should give a quick intro about myself...and maybe ask a few questions? (Is that okay to do in your first post? If not, I'm really sorry!!)
I'm 30 years old, married and live in NYC. My wife and I are both originally from the Midwest. I've read all of the RDPD series and have read many other books, etc on success, real estate, etc.
I work as an associate for a real estate firm. (No, not with Trump!) I have been an associate for 2 years and before that was an analyst for 2 years. I enjoy my job, but I've begun to see that I am stuck in a job. My wife is an out of work teacher, unfortunately. (Unfortunate about the "out of work" part, I am very proud of the fact that she is a teacher).
Anyway, like I said above, I think I found this forumn at a great time. This real estate downturn has really hurt our family. I took this job with the hopes of being the next Donald Trump. I thought I would learn for a few years and then by now be on by own doing deals. Well, apparently starting a real estate firm in Manhattan is a little more tricky than that. And on top of that, it seems like a 75-80 hour a week commitment for the rest of my life, not what I had in mind. (I always thought they way to go was to bust your hump a start a company, sell it 5 years later for millions, then be retired).
So that brings us to today. With my wife being out of work and my salary not being enough to cover 2 ppl living in Manhattan, we are starting to worry. My wife has many thousands of dollars of debt from grad school and I still have some on ccards and from my undergrad. We are probably close to $100k in debt and my salary is less than $100k.
My wife thinks its time to move back to the midwest, but I don't want to. I don't think moving to a lower cost of living state would make that much of a difference right now. I mean, wouldn't we both get paid a lot less also? I could see the point in moving if you had a business that you ran and could run from anywhere - sure, why not keep more $$ in your pocket every month. But not sure it is the answer right now.
My wife is also ready to start thinking about kids - she is concerned about waiting too long to start our family. I understand and respect this, but it sure puts us in a time crunch financially. She is thinking she wants to start having kids in the next couple of years.
I know myself well and I know what I like, what I dislike and what I want my life to look like now and in the future. I am a very good implementor/executor of ideas and plans, but not a great idea guy. And I feel like right now I need a great idea!!! And I'm not hell-bent on staying in real estate - I just need to make some $$ to stay above water for awhile.
Wow, that was probably WAY too long for my first post. Hope I didn't bore you to tears.
I look forward to participating,
Tyorke
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