A quick intro about me and why I started on this journey. Over the past year, I had stumbled upon various podcasts which centered around self-help. One of them (Tai Lopez's "Grand Theory of Everything") really preached about attaining the good life, "health, wealth, love, and happiness". This real estate venture is focusing around the wealth and happiness component in striving for the good life.
As a young professional with a year or so of experience in the business world, I had come to the realization that I want to do something... something where would have all the decision making power, where success and failure is dependent on my skills alone, and where I would have real accountability for my actions. (I guess the fear of being broke is a good motivator!)
This entrepreneurial mindset has REALLY called out to me and I've been scratching away at this itch for the past few months. I think currently I am in my "learning" phase but I think that this has just been an excuse for me not to take action. So, in an effort to force myself on this journey, here are my goals for next few months: (some are shorter term, some are longer term)
So some people who happen to accidentally get to my page may ask, "How'd you get to this mindset?" Below are some of the resources that have helped me to get to the starting line:
As a young professional with a year or so of experience in the business world, I had come to the realization that I want to do something... something where would have all the decision making power, where success and failure is dependent on my skills alone, and where I would have real accountability for my actions. (I guess the fear of being broke is a good motivator!)
This entrepreneurial mindset has REALLY called out to me and I've been scratching away at this itch for the past few months. I think currently I am in my "learning" phase but I think that this has just been an excuse for me not to take action. So, in an effort to force myself on this journey, here are my goals for next few months: (some are shorter term, some are longer term)
- Start a blog to write about what I've learned. I'm going to try to keep this up at least 2x a week.
- Talk to 10 people regarding investing/where to invest in the next 2 days (finish my goal by June 10, 2015)
- Buy a multi-family property - I'm looking at multi-family properties right now. The general criteria are as follows:
- Cash flow about $200 per unit per month
- Meet somewhat close to the 2% rule (should I allow for 1.5%?)
- Reach goal: Invest in a large apartment building (30+ units) that meet my criteria
So some people who happen to accidentally get to my page may ask, "How'd you get to this mindset?" Below are some of the resources that have helped me to get to the starting line:
- Tai Lopez: http://www.tailopez.com/
- Tai Lopez reads a book a day and strives to be a modern day renaissance man. He's the one that's taught me to think bigger and start out to be an entrepreneur. Check out his list of top 150 books to read.
- BiggerPockets: http://www.biggerpockets.com/
- The online real estate community where tons of knowledgeable investors come to talk about their experiences. With a blog, podcast, and books, BP has been an amazing resource to help start my learning journey.
- Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert Kiyosaki -
- I think this has been almost everyone's start in real estate. The mindset of being either a business-owner or investor (I think this is in Cash Flow Quadrant) has changed the way that I think.
With this, I think this is a decent end to a sub-par first post.
Cheers,
George
PS: I'm a big fan of quotes, so I'll probably add one at the end of each post.... Here's the first!
"If something is important enough, even if the odds are again you, you should still do it." - Elon Musk
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