What should I do from here and my midlife crisis?

[FreedomFighter7]

In 8 days I will be 50 years old and kind of freaking out about time. It's begun to hit me.

I have been a real estate investor for 16 years where I have had feast and famine as a 1-person operation. However, 3 years ago, I finally figured things out where I am making 6 figures NET per deal. I only do 2-3 deals per year because I've been taking care of a very sick parent.

On top of it, I'm working very part time hours to hit these numbers of 300k net per year which is the promising component to this.

This year, I'm on pace to finally crack 7 figures net because I'm going at this fulltime.

I have been struggling mentally with this business model because 1) it is not referral based (where one homeowner will refer me to another), 2) it is not repeatable (once I do a transaction with a homeowner, 99% of them do not have another home to do another transaction) and 3, scalability (it's limited as a 1-man operation). Number 3 has its issues because if I bring people onboard with me, they may discover what I'm doing and threaten the secret sauce I figured out, so I've remained as a solo operator.

In 5 years (55 years old), I want to have the option to retire. Not saying I will but I want to do whatever the hell I want to, when I want, if I want, how I want. So I need something that will income passively or at least very hands off.

I could start dumping my money into rentals, which I have none right now, that are somewhat passive or two, buy into a business that throws off money.

I just don't know where to go from here and time is not on my side so what should I do?!

Let's just say, I can make 1-2 million net per year in this business, I just wonder if I'm not going "big enough". I know guys my age that are worth north of 80 million because they went into the supplement business just a few years ago because it is referral based, repeatable, and scalable.

What do you all recommend? Please help!

 

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[biophase]

In 8 days I will be 50 years old and kind of freaking out about time. It's begun to hit me.

I have been a real estate investor for 16 years where I have had feast and famine as a 1-person operation. However, 3 years ago, I finally figured things out where I am making 6 figures NET per deal. I only do 2-3 deals per year because I've been taking care of a very sick parent.

On top of it, I'm working very part time hours to hit these numbers of 300k net per year which is the promising component to this.

This year, I'm on pace to finally crack 7 figures net because I'm going at this fulltime.

I have been struggling mentally with this business model because 1) it is not referral based (where one homeowner will refer me to another), 2) it is not repeatable (once I do a transaction with a homeowner, 99% of them do not have another home to do another transaction) and 3, scalability (it's limited as a 1-man operation). Number 3 has its issues because if I bring people onboard with me, they may discover what I'm doing and threaten the secret sauce I figured out, so I've remained as a solo operator.

In 5 years (55 years old), I want to have the option to retire. Not saying I will but I want to do whatever the hell I want to, when I want, if I want, how I want. So I need something that will income passively or at least very hands off.

I could start dumping my money into rentals, which I have none right now, that are somewhat passive or two, buy into a business that throws off money.

I just don't know where to go from here and time is not on my side so what should I do?!

Let's just say, I can make 1-2 million net per year in this business, I just wonder if I'm not going "big enough". I know guys my age that are worth north of 80 million because they went into the supplement business just a few years ago because it is referral based, repeatable, and scalable.

What do you all recommend? Please help!

Just make your 1 to $2 million per year for the next five years. And at 55 you’ll be worth 5 to $10m and you can decide to either get rentals or a cd or put it in a stock portfolio and retire.

 

[socaldude]

Reading your first sentence I immediately thought you were 50 and were a Walmart greeter or something. Phew!

 

[Kevin88660]

In 8 days I will be 50 years old and kind of freaking out about time. It's begun to hit me.

I have been a real estate investor for 16 years where I have had feast and famine as a 1-person operation. However, 3 years ago, I finally figured things out where I am making 6 figures NET per deal. I only do 2-3 deals per year because I've been taking care of a very sick parent.

On top of it, I'm working very part time hours to hit these numbers of 300k net per year which is the promising component to this.

This year, I'm on pace to finally crack 7 figures net because I'm going at this fulltime.

I have been struggling mentally with this business model because 1) it is not referral based (where one homeowner will refer me to another), 2) it is not repeatable (once I do a transaction with a homeowner, 99% of them do not have another home to do another transaction) and 3, scalability (it's limited as a 1-man operation). Number 3 has its issues because if I bring people onboard with me, they may discover what I'm doing and threaten the secret sauce I figured out, so I've remained as a solo operator.

In 5 years (55 years old), I want to have the option to retire. Not saying I will but I want to do whatever the hell I want to, when I want, if I want, how I want. So I need something that will income passively or at least very hands off.

I could start dumping my money into rentals, which I have none right now, that are somewhat passive or two, buy into a business that throws off money.

I just don't know where to go from here and time is not on my side so what should I do?!

Let's just say, I can make 1-2 million net per year in this business, I just wonder if I'm not going "big enough". I know guys my age that are worth north of 80 million because they went into the supplement business just a few years ago because it is referral based, repeatable, and scalable.

What do you all recommend? Please help!

You are over 50 and have a secret sauce? Time to look for a young man as partner to expand the business?

Find the wrong guy he might steal some business from you and you make 20 percent less every year before you retire. Find the right guy you will double your revenue.

Take risk and look at it in perspective.

You might be overestimating others’ will to steal your secret sauce.

If you are retiring in five years based on current projection, it makes sense to take the leap of faith and have someone to bet on, that if you win you will continue to receive an income in the future even if on holiday.

For the first time I am hearing someone in midlife crisis on track to high 6 digit income per income.

It is also funny because I wrote some content in the INSIDERS section on an opportunity to look for seniors in business who have no successors.

 

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[FreedomFighter7]

Just make your 1 to $2 million per year for the next five years. And at 55 you’ll be worth 5 to $10m and you can decide to either get rentals or a cd or put it in a stock portfolio and retire.

Hello @biophase and thank you for your feedback. I frequent this forum seldomly but I understand your kind of a big deal and I believe in ecommerce?

Do you have a link to your story or perhaps you can simply tell me what you do but correct me if I'm wrong but I believe my business model is not considered a "MFL" one?

 

[FreedomFighter7]

You are over 50 and have a secret sauce? Time to look for a young man as partner to expand the business?

Find the wrong guy he might steal some business from you and you make 20 percent less every year before you retire. Find the right guy you will double your revenue.

Take risk and look at it in perspective.

You might be overestimating others’ will to steal your secret sauce.

If you are retiring in five years based on current projection, it makes sense to take the leap of faith and have someone to bet on, that if you win you will continue to receive an income in the future even if on holiday.

For the first time I am hearing someone in midlife crisis on track to high 6 digit income per income.

It is also funny because I wrote some content in the INSIDERS section on an opportunity to look for seniors in business who have no successors.

Forgive my ingnorance as I don't frequent this forum too much but is this INSIDERS membership really worth it for someone like me?

 

[EngineerThis]

In 8 days I will be 50 years old and kind of freaking out about time. It's begun to hit me.

I have been a real estate investor for 16 years where I have had feast and famine as a 1-person operation. However, 3 years ago, I finally figured things out where I am making 6 figures NET per deal. I only do 2-3 deals per year because I've been taking care of a very sick parent.

On top of it, I'm working very part time hours to hit these numbers of 300k net per year which is the promising component to this.

This year, I'm on pace to finally crack 7 figures net because I'm going at this fulltime.

I have been struggling mentally with this business model because 1) it is not referral based (where one homeowner will refer me to another), 2) it is not repeatable (once I do a transaction with a homeowner, 99% of them do not have another home to do another transaction) and 3, scalability (it's limited as a 1-man operation). Number 3 has its issues because if I bring people onboard with me, they may discover what I'm doing and threaten the secret sauce I figured out, so I've remained as a solo operator.

In 5 years (55 years old), I want to have the option to retire. Not saying I will but I want to do whatever the hell I want to, when I want, if I want, how I want. So I need something that will income passively or at least very hands off.

I could start dumping my money into rentals, which I have none right now, that are somewhat passive or two, buy into a business that throws off money.

I just don't know where to go from here and time is not on my side so what should I do?!

Let's just say, I can make 1-2 million net per year in this business, I just wonder if I'm not going "big enough". I know guys my age that are worth north of 80 million because they went into the supplement business just a few years ago because it is referral based, repeatable, and scalable.

What do you all recommend? Please help!

My buddy started out flipping houses, now he created a fund, where people can invest in and receive a payout 2 years later. Been working great! He gets a slush fund to buy more houses, he has 3 fulltime guys now. Just bought his 10th house. And his investors have received their 12% timely. Maybe an idea to think about?

 

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[biophase]

Hello @biophase and thank you for your feedback. I frequent this forum seldomly but I understand your kind of a big deal and I believe in ecommerce?

Do you have a link to your story or perhaps you can simply tell me what you do but correct me if I'm wrong but I believe my business model is not considered a "MFL" one?

My story has been well documented here:

GOLD! - SUCCESS STORY: Biophase (eCommerce, Real estate)

My story is not as intricate or exciting as the other ones on here and I'm nowhere near the $1M range yet. But, after reading the other ones I felt compelled to write mine. It's actually pretty boring and normal and it's not the fastlane or slowlane. I'd call it driving in regular traffic and...

www.thefastlaneforum.com

I don’t think that anyone making over $1m/yr in their business would not be considered fastlane here.

Fastlane is all about making huge chunks of money fast and then investing it so you can spend the rest of the time doing things you want to do.

 

[Kevin88660]

Forgive my ingnorance as I don't frequent this forum too much but is this INSIDERS membership really worth it for someone like me?

It's charged on 3 months basis I remember so you can always cancel if you decide otherwise.

It's for people to discuss and share a business concept/idea but do not want to attract too much attention from the outside world.

I shared an idea about how young people can look for business succession from seniors in the open section, but once I realised it ranked 2nd in google searches I no longer want to continue the topic in the open section.

Because the entry bar is not incredibly high for people who have patience the last thing I want to see if an army of Alex Hormozi students pitching a grand slam offer to senior business owners.

 

[Florida Man]

In 8 days I will be 50 years old and kind of freaking out about time. It's begun to hit me.

I have been a real estate investor for 16 years where I have had feast and famine as a 1-person operation. However, 3 years ago, I finally figured things out where I am making 6 figures NET per deal. I only do 2-3 deals per year because I've been taking care of a very sick parent.

On top of it, I'm working very part time hours to hit these numbers of 300k net per year which is the promising component to this.

This year, I'm on pace to finally crack 7 figures net because I'm going at this fulltime.

I have been struggling mentally with this business model because 1) it is not referral based (where one homeowner will refer me to another), 2) it is not repeatable (once I do a transaction with a homeowner, 99% of them do not have another home to do another transaction) and 3, scalability (it's limited as a 1-man operation). Number 3 has its issues because if I bring people onboard with me, they may discover what I'm doing and threaten the secret sauce I figured out, so I've remained as a solo operator.

In 5 years (55 years old), I want to have the option to retire. Not saying I will but I want to do whatever the hell I want to, when I want, if I want, how I want. So I need something that will income passively or at least very hands off.

I could start dumping my money into rentals, which I have none right now, that are somewhat passive or two, buy into a business that throws off money.

I just don't know where to go from here and time is not on my side so what should I do?!

Let's just say, I can make 1-2 million net per year in this business, I just wonder if I'm not going "big enough". I know guys my age that are worth north of 80 million because they went into the supplement business just a few years ago because it is referral based, repeatable, and scalable.

What do you all recommend? Please help!

Would you mind expanding on what your current business model is? Are you wholesaling, flipping, etc?

Thanks for any insight

 

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[fastlane_dad]

I have been a real estate investor for 16 years where I have had feast and famine as a 1-person operation. However, 3 years ago, I finally figured things out where I am making 6 figures NET per deal.

This year, I'm on pace to finally crack 7 figures net because I'm going at this fulltime.

In 5 years (55 years old), I want to have the option to retire. Not saying I will but I want to do whatever the hell I want to, when I want, if I want, how I want. So I need something that will income passively or at least very hands off.

Let's just say, I can make 1-2 million net per year in this business, I just wonder if I'm not going "big enough". I know guys my age that are worth north of 80 million because they went into the supplement business just a few years ago because it is referral based, repeatable, and scalable.

What do you all recommend? Please help!

First of all - getting to 7 figures + is no easy task (easily 1% of earners in the USA). Keep doing what you are doing and as others have said with a bit of planning + saving you could be well on the way to retire in 5+ years. Given that you have been in real estate for 16 YEARS, it is highly unlikely that you will shift business models completely and crack several MIL+ in income in the next 1-2 years. Any industry / business has it's learning curve and as you know years of trial and error to crack the million dollar barrier.

I'd see what you can do to multiply your deals now, what you can outsource without giving away some of the magic etc. Some of your thoughts might be unwarranted ... and as you mentioned maybe this secret sauce has an expiration date not internally (you hiring someone who steals it) - but others closing in on figuring this out elsewhere to take some of your business away? Tough to say without much detail.

In either case - the grass isn't 'always greener' - it's greener where you water it.

Is '80 mil net worth supplement business' feasible? Yes - but highly improbable to be achieved 'overnight' - or in the timeframe mentioned (you're talking profits in the neighborhood of ~2.5MIL a month). That's a BIG operation, with many churning parts, offices, personnel, liability, risk etc etc. Is that also what you want?

 

[polaroid22]

In 8 days I will be 50 years old and kind of freaking out about time. It's begun to hit me.

I have been a real estate investor for 16 years where I have had feast and famine as a 1-person operation. However, 3 years ago, I finally figured things out where I am making 6 figures NET per deal. I only do 2-3 deals per year because I've been taking care of a very sick parent.

On top of it, I'm working very part time hours to hit these numbers of 300k net per year which is the promising component to this.

This year, I'm on pace to finally crack 7 figures net because I'm going at this fulltime.

I have been struggling mentally with this business model because 1) it is not referral based (where one homeowner will refer me to another), 2) it is not repeatable (once I do a transaction with a homeowner, 99% of them do not have another home to do another transaction) and 3, scalability (it's limited as a 1-man operation). Number 3 has its issues because if I bring people onboard with me, they may discover what I'm doing and threaten the secret sauce I figured out, so I've remained as a solo operator.

In 5 years (55 years old), I want to have the option to retire. Not saying I will but I want to do whatever the hell I want to, when I want, if I want, how I want. So I need something that will income passively or at least very hands off.

I could start dumping my money into rentals, which I have none right now, that are somewhat passive or two, buy into a business that throws off money.

I just don't know where to go from here and time is not on my side so what should I do?!

Let's just say, I can make 1-2 million net per year in this business, I just wonder if I'm not going "big enough". I know guys my age that are worth north of 80 million because they went into the supplement business just a few years ago because it is referral based, repeatable, and scalable.

What do you all recommend? Please help!

Hi,
Do you think your secret sauce would also work in Europe?
Cheers!

 

[FreedomFighter7]

First of all - getting to 7 figures + is no easy task (easily 1% of earners in the USA). Keep doing what you are doing and as others have said with a bit of planning + saving you could be well on the way to retire in 5+ years. Given that you have been in real estate for 16 YEARS, it is highly unlikely that you will shift business models completely and crack several MIL+ in income in the next 1-2 years. Any industry / business has it's learning curve and as you know years of trial and error to crack the million dollar barrier.

I'd see what you can do to multiply your deals now, what you can outsource without giving away some of the magic etc. Some of your thoughts might be unwarranted ... and as you mentioned maybe this secret sauce has an expiration date not internally (you hiring someone who steals it) - but others closing in on figuring this out elsewhere to take some of your business away? Tough to say without much detail.

In either case - the grass isn't 'always greener' - it's greener where you water it.

Is '80 mil net worth supplement business' feasible? Yes - but highly improbable to be achieved 'overnight' - or in the timeframe mentioned (you're talking profits in the neighborhood of ~2.5MIL a month). That's a BIG operation, with many churning parts, offices, personnel, liability, risk etc etc. Is that also what you want?

I appreciate your thoughtful feedback.

Even though others may figure this out and I'm sure that some know, they still can't beat me because of my flawless execution. I'm a master at sales and sit second-to-none. This is a severe edge that I possess. Most sales people aren't sales people. I was born with natural "charming-abilities" coupled with a high "likeability" component which is another reason this is hard to impossible to outsource. I hate that I'm this good in sales but it is what it is. This is why I say to myself, "Just shut up, put your head down, and deploy your talents till your at your number."

I am going to go full steam ahead.

Thanks again for your input which I value tremendously.

 

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[FreedomFighter7]

Hi,
Do you think your secret sauce would also work in Europe?
Cheers!

I have no idea as I don't know how Europe ticks.

 

[FreedomFighter7]

Would you mind expanding on what your current business model is? Are you wholesaling, flipping, etc?

Thanks for any insight

My exit strategy is mainly wholesaling but it's my keen ability to acquisition these for 1980's prices.