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GOLD! Today is my 1 year TMF anniversary

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Looking forward to the July 18, 2018 update. Have you thought about building spec apartments? I've had a dream to build a 24 unit apartment building using all Elon Musk tech. XD Might work. ;)
Thanks! I have a 12 unit apartment building on the drawing board. The deal was brought to me by an investor so who knows if it will actually happen. I could see it working.

Building a spec apartment building might not be super profitable because apartment investors like good deals, ha! I wouldn't let that deter me though.

I have lots of time spent seeing how to make 3-D printed houses actually work. Man, we aren't there yet but I LOVE the idea.
 

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Hugh Nivers

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Building a spec apartment building might not be super profitable because apartment investors like good deals, ha! I wouldn't let that deter me though.
Could it be built economically enough to buy and hold for passive cash flow? I just don't know what the cost of new construction is these days, and then you have the land, etc. What about building in a place (different state? country?) where land and materials are cheap/er and then paying a management company to handle it for you? Then build another until you have massive passive?

I guess the cash outlay on the front could be prohibitive, but perhaps if you build to programs that provide funding in areas which need housing?
 
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Could it be built economically enough to buy and hold for passive cash flow?
Great question. If you had enough equity in it where the financing didn't kill you, maybe. I see 2 things out there now. One are big companies building huge buildings. Second are investors looking to "warehouse" cash. @SteveO might be able to better answer this question.
 

EsJay

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Wow! What a great thread indeed. This one thread taught me so many things in just few pages.

Thank you so much, this is going to help me (and I am sure all new comers) immensely as I start my journey
 

Smuggo

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Congrats! You've became a motivation!
My one of the first threads I've read in this forum and had to write down some things I've learned. Excellent.
I am sure I will be back here.
Thank you and keep this awesome work!
 

Tammyanne

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So today is a milestone for me. I year of applying what I have learned from the TMF and the great people of this forum. To @MJ DeMarco and all of you that have helped me along my path - a big Thank You!


In just 1 year I have started 4 new businesses, attended B&P, attended C&B, joined a mastermind, spent countless hours and $ on improving myself, joined a gym, changed my diet, studied business psychology extensively, learned how to build and market websites from scratch, became a better husband and father, mentored a few people, and countless other improvements that have totally changed my life for the better.


I have failed at things but am not afraid, have succeeded at things but not become blind, won the battle against judgment, smashed many limiting beliefs, and can generally "see" things better.


If you haven't made the decision to jump in here and get your hands dirty, please do. The TMF family has always been here to help...for free and very genuine in my experience. Ask the best questions you can, do your homework, and provide value along the way to others.


Again - Thank You to all that took the time to share your knowledge with me and the fastlane family.

edited by Vigilante : This thread was changed to gold in July 2016, but to those who come across this later, please start at the beginning, read each post and the progression in this thread by Get Right, and you will see the bread crumbs he left for you that caused this thread to turn gold in 2016
Thank You congrats on your victories n your failures all in a year, Awesome!

Almost 2years now :_
 
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It's about 90 days until my 5th anniversary on the forum! As usual I will try to update you on where the Fastlane has taken me. There have been some great leaps forward this year but one leap backwards! I think you will find the leap backwards the most interesting.

And I'll just leave this here - Yale University, thank you.

Stay tuned because this update will be quite different!
 

Gunther Herzog

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Oh wow, what a enriching story!

Looking forward to your 5th anniversary on the forum and your update.


Then... there are people like YOU. YOU are who MJ wrote the book for. YOU are who MJ built the forum for. YOU are the reason people like me hang out here.
I totally agree with @Vigilante .
@Get Right. As we all know from TMF, success is a process, not an event. Your Story, and especially that you updated your progress regularly in this Forum, points that out very well. You are a exemplar of that!

Would you still do it? Would you still put that first foot forward? Would you get real with yourself, find and fix the broken parts? Would you sacrifice?

If you were willing to do it, what would stop you? Would you let excuses stop you? Would you let other's opinions stop you? Would you let a failed mentorship stop you? Would you let some other company/bank/competitor stop you?

For me, a year was worth it.

...what's it worth to you?
As you stated, for you it was worth it. It is worth it! (At least for all the Fastlaners out there.) Important is, to also see the grind. It is just a necessary part of the equation. To Quote MJ: <Getting rich fast is possible. Getting rich easy is not.>

In my initial post(s) you saw that changing my mindset was the priority for year #1. My priority for year #2 was to try building true CENTS fastlane businesses. I have now built 7 businesses since reading TMF. 6 failed. But 1 hasn't.
I really like your gutsiness, to not give up, even tough 6 out of 7 failed. You are very inspiring to me!





I want to sum up this post with saying that I really admire your posting and answering efforts, dear @Get Right.

You are an amazing person, I am proud of you!
 
Last edited by a moderator:

Deano Demarco

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Well done and many thanks for your insights and post, I am new on here, and just reading the Unscripted book and loving it.





Well guess what? My 4 year anniversary on the forum is today! It's becoming a tradition to let you know what has been happening all year so here we go!

This year found me sticking with my fastlane plan of building spec houses (thread link in signature below). Last year (2016) this company grossed $479k with a net around 10% ($48k). This year (2017) is on track to gross 1.1M with a net closer to 20% ($220k). 2018 should see significant scaling.

I'm having a great time with this company. I work when I want to and have a lot of creative time (which I personally need). It's not "passive" (nor would I want to be at this phase) but there are systems/people in place to make it hands off when I am ready. Check out the last completed house:

View attachment 15599

My mindset this year was pretty solid except for dealing with the Desert of Desertion...again. I have to keep reminding myself that this is part of a much bigger picture and that each desert DOES have an end (if you just keep walking). Feel free to PM me if you need a desert survival pep talk :)

Another reminder I got this year is that nothing is going to be easy. You have to push to make gains. For instance - I hired a realtor to help sell one of my houses. For 6 months this guy talked and talked about what he was doing to sell a house...but he never did. I trusted him the whole way and it cost me 6 months...I learned that I needed to manage my realtor as well as my subs. No one gets a free pass. They now have to earn freedom from my oversight.

Unscripted. This is an epic book @MJ DeMarco . It took me a week to read it (I usually read a book this size in 2 days). I chuckled as I remembered what it was like unraveling these ideas prior to the book. If you haven't read the book yet, stop and do it now. Leave an Amazon review if you want to help give back.

Looking forward. Year #5 should be the first year I start to see substantial financial rewards from this company. This will come at the same time that cash preservation might be paramount. I will have to negotiate the coming potential housing bubble (exact timeline unknown). I'm seeing an uptick in local copy-cats also. The brighter side of this is that my success is leading to more investor money being offered. How I plan and react to all of this will ultimately determine how good I am at this "game".

As always, thanks to each of you for your encouragement, help and time! Here is to year #5!!!
Well guess what? My 4 year anniversary on the forum is today! It's becoming a tradition to let you know what has been happening all year so here we go!

This year found me sticking with my fastlane plan of building spec houses (thread link in signature below). Last year (2016) this company grossed $479k with a net around 10% ($48k). This year (2017) is on track to gross 1.1M with a net closer to 20% ($220k). 2018 should see significant scaling.

I'm having a great time with this company. I work when I want to and have a lot of creative time (which I personally need). It's not "passive" (nor would I want to be at this phase) but there are systems/people in place to make it hands off when I am ready. Check out the last completed house:

View attachment 15599

My mindset this year was pretty solid except for dealing with the Desert of Desertion...again. I have to keep reminding myself that this is part of a much bigger picture and that each desert DOES have an end (if you just keep walking). Feel free to PM me if you need a desert survival pep talk :)

Another reminder I got this year is that nothing is going to be easy. You have to push to make gains. For instance - I hired a realtor to help sell one of my houses. For 6 months this guy talked and talked about what he was doing to sell a house...but he never did. I trusted him the whole way and it cost me 6 months...I learned that I needed to manage my realtor as well as my subs. No one gets a free pass. They now have to earn freedom from my oversight.

Unscripted. This is an epic book @MJ DeMarco . It took me a week to read it (I usually read a book this size in 2 days). I chuckled as I remembered what it was like unraveling these ideas prior to the book. If you haven't read the book yet, stop and do it now. Leave an Amazon review if you want to help give back.

Looking forward. Year #5 should be the first year I start to see substantial financial rewards from this company. This will come at the same time that cash preservation might be paramount. I will have to negotiate the coming potential housing bubble (exact timeline unknown). I'm seeing an uptick in local copy-cats also. The brighter side of this is that my success is leading to more investor money being offered. How I plan and react to all of this will ultimately determine how good I am at this "game".

As always, thanks to each of you for your encouragement, help and time! Here is to year #5!!!
 
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Happy 5th year forum anniversary to me!! :party:

It's been yet another incredible year thanks to @MJ DeMarco , the newly released book Unscripted, the Fastlane Summit and all you forum friends!!

I'll start it off with the Fastlane Summit 2018. Wow, wow, wow. This was my 4th forum event and possibly the best. I got to play golf with my forum friend @SteveO on his own golf course to start it off. Simply amazing what he is doing out there. Followed it up by MJ letting me present to the group! First time I have been nervous mainly because the talent in that room was extraordinary. I got a bunch of northern friends to say "y'all and grits" so it was a win for me! I bet I had 50 conversations that weekend and learned from all of them. BTW - I tracked my sleep for those 5 days...a shade over 18 hours....total.

My fastlane business has gone well this year. I started with just a few spec houses and now I'm looking at a real company making a real difference. It's fun when people stop you and already know what you do. The future looks pretty good for growth even though I will probably see a buying dip next year. I already have a strategy in place to handle it. Finishing this house up now:

20161027_113309.jpg

My freetime has been astronomical. I can run my life semi-autonomously now...and for me that started to bring problems. I hadn't forecast what it would actually be like to live the fastlane so I wasn't ready for it. I actually found myself "unhappy"! Can you believe that! Neither could I.....but I neglected a few things while pursuing the fastlane. The main one being personal happiness...and I didn't know how to get it back. So I enrolled in Yale University....haha (online course) "The Science of Well Being". I'm learning that I work best and happiest when I slow down just a little. It's a tough lesson but its working and as I write this I'm getting back closer to my "norm".

Problem #2 was my habits slowly started changing. I can sleep whenever, I can eat whenever...time didn't really matter anymore in a business/conformity/Scripted sense. I found myself physically lazy but mentally on fire. That's a tough position. I'm reaching out to @Kung Fu Steve in this post to possibly give me some direction for improvement.

Looking forward - This next year will see me growing my business and formulating my exit strategy. I've sold 2 businesses before but I want to take this one a little further. I want to see if I can make it to the VC funding (venture capital) level. It's the last step before a major buyout or IPO level. It's not an ego or money thing, it's a "Is this even possible" thing. I'm basically proving to myself so that I can feel confident advising others at this level.

I hope the last year treated all of you as well as it did me! As always, reach out if I can help you on your journey.
 

Kung Fu Steve

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Happy 5th year forum anniversary to me!! :party:

It's been yet another incredible year
You've accomplished so much in such a short time -- congratulations, brother!

I'm reaching out to @Kung Fu Steve in this post to possibly give me some direction for improvement.
I'm honored you thought of me. You know deep down in your heart what you what -- and I can't tell you the secrets you keep in there... but maybe I can share a couple ideas I've seen along my own path...

My freetime has been astronomical. I can run my life semi-autonomously now...and for me that started to bring problems. I hadn't forecast what it would actually be like to live the fastlane so I wasn't ready for it.
"Retirement" isn't the goal... if you re-read The Millionaire Fastlane, 4 Hour Work Week, Rich Dad Poor Dad -- none of them said "make enough money so you can sit on your a$$ all day"...

Here's the thing: we are meant to be employed. Not in the modern day sense everyone thinks when they hear the word "job" -- but in the sense that you have to meet our two spiritual needs: growth and contribution.

We all meet our basic needs. Whether we have to drink or smoke or lie to ourselves -- we'll find a way to meet those needs because they are a necessity.

But those needs of the spirit... those are different...

If you look at nature -- what happens to something that doesn't grow? If a plant doesn't grow, what does it do? It dies.

We as humans, we climb or slide. We either age like a fine wine or a stinky cheese...

But why does anything on this planet grow? So it can contribute. Somehow, some way, everything must contribute or it gets eliminated.

Let's bring it back down to earth for a second:

Progress = Happiness.

The problem with achieving our goals is most people say "is this all there is!?"

You MUST have the next goal, the next step, the next journey before you achieve a goal -- otherwise you feel this void... why? Because it's not getting the goal that matters... it's who you become in pursuit of it.

Let me clarify for a second though: when I say we need to be employed -- I don't mean a job. I mean something meaningful you do consistently that meets your needs, causes you to grow, and allows you to contribute in a meaningful way (to you).

The goal is not to NOT work... just get to the point where you don't HAVE to work.

Now that you've hit this goal -- it's time to find a "job" that gives you joy, pleasure, excitement, growth, contribution... maybe that's in a non-profit sense? Maybe it's time to donate some time? Maybe it's time to start a new business?

I actually found myself "unhappy"! Can you believe that! Neither could I.....but I neglected a few things while pursuing the fastlane. The main one being personal happiness...and I didn't know how to get it back. So I enrolled in Yale University....haha (online course) "The Science of Well Being". I'm learning that I work best and happiest when I slow down just a little. It's a tough lesson but its working and as I write this I'm getting back closer to my "norm".
When I sold the dojo, I didn't have enough to live on for the rest of my life but I was good for a couple of years to do whatever. In addition to a few consulting gigs -- I had more than enough money... but... I never felt closer to death in that moment.

Something weird happens when you no longer have a reason to get out of bed in the morning. When there's no reason to go out and do things you find yourself in this awkward position where you're lacking identity. "Who am I now? What am I about now? What is life about?"

You can't hide from those questions anymore.

Problem #2 was my habits slowly started changing. I can sleep whenever, I can eat whenever...time didn't really matter anymore in a business/conformity/Scripted sense. I found myself physically lazy but mentally on fire. That's a tough position.
That's why I used the term "employed" ... something that drives you, creates a schedule, gives you some sort of certainty.

We all need adventure, excitement, and change.... but we also need some kind of stability and security. However you decide to accomplish that (that's up to you) but as silly as it sounds the "routine" of a job is why most people stick to that without every building a business.

Looking forward - This next year will see me growing my business and formulating my exit strategy. I've sold 2 businesses before but I want to take this one a little further. I want to see if I can make it to the VC funding (venture capital) level. It's the last step before a major buyout or IPO level. It's not an ego or money thing, it's a "Is this even possible" thing. I'm basically proving to myself so that I can feel confident advising others at this level.

I hope the last year treated all of you as well as it did me! As always, reach out if I can help you on your journey.
Reasons why are always more powerful than what or how...

Love ya brother keep it up!
 

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LittleJohn

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Thanks for the nice reply. I can tell when I am being too hard when I stop enjoying the process. Some typical "clues" that it might be happening are:
  • Get "snappy" with loved ones
  • No longer care about goals you once had
  • Don't enjoy getting up early to work on something
  • Start considering "shiny object syndrome"
You may also find that 1 day off won't cut it. It may take longer. As you get further down your entrepreneurial path that time will shorten (bounce back quicker from the punches). I firmly believe that if you sit on the accelerator too long you will have to pull over and replace the turbo a few times.
I immediately related with your bullet points especially getting snappy with people and also when i notice myself "not enjoying the process".

Now that I am beginning to live by my own terms and create my business and coming up on 36 I feel a lot of self induced pressure/anxiety to perform now so its always nice to peple I can relate to.
 

Mr. Bazz

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As a newcomer to this blog. It is awesome to see massive success in 1x yr. When you change your thought process and reprogram yourself, you become more self-aware of destructive habits, people, places, things and thoughts in your life. In the book The Power of Habit, by Charles Duhigg, He uses the concept of Keystone habits or a habit that starts a chain effect in the rest of your life (i.e. you run every morning, resulting in healthier eating and drinking habits, increased sleeping etc.) to show the power of taking action and causing change.
My question for you - As this post is now ~5 years old, may you outline some key habits that changed in the first year of reading TMF forum? You may also discuss more recent impacts.

IF you have not read The Power of Habit, I personally recommend taking a look. It a few examples of business culture and psychology that are valuable in any setting, professional to start-up to entrepreneurial.

Here is a link to an article on keystone habits, that I discussed above. It gives a basic definition of keystone habits - what they are and why they are important - and outlines a few examples from sleep to exercise to negative self-talk. Let me know what you think!

Again, thank you, and I hope for your continued success.

-DB
 
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:party:Happy 6th Year Forum Anniversary to me!! :party:

What a ride! It's hard to believe that 6 years are in the book. I had to re-read some of my posts just to digest this roller-coaster. As always, I have to thank @MJ DeMarco first and then all you guys and gals!

This year has been dedicated to growing the spec-home business (see thread in signature). We are rocking the sales and are only limited by the amount of houses we can build. So my new job is to improve our systems so that we can handle more.

Currently I have 1 spec home for sale, 2 under construction (already sold), and 2 custom houses in permitting. We have grown to 4 full time employees along with a handful of contract and temporary workers.

Back to the systems issue. As we have grown it has become more important to have a lot of well documented systems. Currently we spend too much time re-figuring out what we already know. Our plan is to have every system documented and used every time a certain issue comes up. This should help with unnecessary communication and on-boarding of new hires. It is tedious writing all this down but I believe the long term payback will be immense. If you are interested, this is one of the books I am using to help me understand it better (Work the System by Sam Carpenter).

My mental game is pretty strong currently. I worked out most of my "happiness" kinks. In addition to the prior posts work I have been enjoying re-reading @eliquid post about Fulfillment. It really helps fine tune why you feel certain ways. If you can start looking at your emotions/issues from an outside perspective they tend to not weigh you down as much.

Looking forward: you will see me start to devolve myself from the day-to-day running of the spec-home business. This will be the test to see if my model is truly fastlane. I know it can run without me but can it grow without me? If you read between these lines you can see that I am starting the very long exit process. It will probably take 6-8 years to attempt this exit. The first step starts Wednesday. I am making myself unavailable to my team for a whole week. Should be fun and I know they can handle it.

Thanks for checking out my journey and ask anything you like! :)
 

Extenator

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Awesome man. Your accomplishments and your drive is a real motivation.

I Just started out to grind through the forum for 3 days. So I'm excited for my journey.
 

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