Chances are you work a 9-5 desk job. Even greater chances are you work for somebody else. What I mean by that is you don’t own the company or business you work for. That’s just it, you work for someone else.
This concept luckily dawned on me at an early age. For as long as I can remember my goal has been to own a business. This probably stemmed from my childhood job of managing a local snack shack at a Little League complex. From open to close, I was there. Setting schedules, maintaining inventory, coming up with marketing schemes or adding new products…that was my life as kid during the Spring and Summer. I loved it.
So it’s no surprise that part of my childhood had an impact on me later on in life too. During High School, I quit my job “working for the man” and started selling products on eBay. Not just any products but Used Women’s Purses. (This was all thanks to my dad who at the time was a full-time eBay seller). So I was a part-time purse seller and I was making good money. (My profile has 90+ 5-star reviews…not to brag or anything) When I wasn’t selling purses online, I was selling sports jerseys to my friends. Basically, my entire employment history up until college consisted of schemes and doing odd-jobs like painting, mowing lawns, landscaping, etc. Anything that didn’t involve working for someone else.
The bottom line is that I want to be my own boss. I want to be in control.
Graduating from college with debt and bills makes this very difficult. How can you turn down a solid job offer to pursue something that is risky, not guaranteed, and what many would even call dumb? 99 times out of 100 you’re going with the job offer. Debt is the reason. Money is the reason…or lack there of.
That’s why when I received an inheritance from my father’s passing…it felt like a blessing. It felt like I was given a second chance at my dream, to escape this life of feeling trapped.
My new plan is as follows:
- Increase income
- Decrease expenses
- Create wider cash flow
- Purchase Income-Producing Assets (Read Rich Dad Poor Dad if you haven’t yet)
- Retire Early
I will achieve this through Real Estate.
- Purchasing Real Estate gives you the potential to increase income
- It’s NOT as expensive as you think, so many options are available to first-time buyers and investors
- If done right, purchasing real estate gives you the potential to decrease expenses by living RENT FREE (I’ll post about this later)
- Real Estate, like any good business, can produce positive cash flow
- As the owner and landlord you are essentially the CEO of this business, you call the shots
- Real Estate has an incredible domino effect, the next deal rolls right into the next
- Income has increased, cash flow has increased, experience is proven
- The best of deals with great cash flow allows for professional management, this creates a safe and reliable passive income
This is why I chose Real Estate.