Hello all,
I have been lurking around this web site for quite sometime now. I usually never participate in any of the discussions, I just sit back and read what everyone has to say. I don't know why this is maybe shyness, lack of knowledge, or just don't know how to put in to words what I want to say. My dilemma is, I have a pretty decent paying job for now that pays the bills and puts money in the bank. But the money in the bank is burning a hole in my soul. I think about it all the time. I would really like to get in to real estate with the money I have in the bank but I work out of town all the time and it would be hard to be a landlord form a distance just starting out and I would rather not pay a property manger until I got my feet wet.
I have about eight months until I finish my apprenticeship program and I can go wherever I want but for now I am stuck where they send me. Another option is to go the slowlane style for now. Kinda the Dave Ramsey approach to getting out of debit, I have been listening to his podcast show and I could have my mortgage paid off in about 3 to 3 1/2 years, and be debt free.
As of right now me and my wife have no debt but the mortgage. The Dave Ramsey way is total slowlane because you have to live a little below your means, but I think it is a guarantee to get out of debt and on to positive money.
Or I can try my luck on the fastlane and get a couple more mortgages, hope I can get them rented and producing positive cash flow. Either way I am a loser because I am a saver. I need to something. Please help me get out of my slowlane mind set and truly join the fastlane. I need to go the B & P seminar to explore other possible avenues, I won't be able to go on friday but I could make it to the last two days. What do you guys think, should I keep going the way I am going by just putting money in the bank until I finish my apprenticeship and in the mean time do my due diligence on real estate (but I don't want to miss out on the housing market while everything is on sale)? Should I start paying down the mortgage and start the fastlane when I get out of debt? Or jump in and do something now. Thank you reading my post and your input. :smxF:
I have been lurking around this web site for quite sometime now. I usually never participate in any of the discussions, I just sit back and read what everyone has to say. I don't know why this is maybe shyness, lack of knowledge, or just don't know how to put in to words what I want to say. My dilemma is, I have a pretty decent paying job for now that pays the bills and puts money in the bank. But the money in the bank is burning a hole in my soul. I think about it all the time. I would really like to get in to real estate with the money I have in the bank but I work out of town all the time and it would be hard to be a landlord form a distance just starting out and I would rather not pay a property manger until I got my feet wet.
I have about eight months until I finish my apprenticeship program and I can go wherever I want but for now I am stuck where they send me. Another option is to go the slowlane style for now. Kinda the Dave Ramsey approach to getting out of debit, I have been listening to his podcast show and I could have my mortgage paid off in about 3 to 3 1/2 years, and be debt free.
As of right now me and my wife have no debt but the mortgage. The Dave Ramsey way is total slowlane because you have to live a little below your means, but I think it is a guarantee to get out of debt and on to positive money.
Or I can try my luck on the fastlane and get a couple more mortgages, hope I can get them rented and producing positive cash flow. Either way I am a loser because I am a saver. I need to something. Please help me get out of my slowlane mind set and truly join the fastlane. I need to go the B & P seminar to explore other possible avenues, I won't be able to go on friday but I could make it to the last two days. What do you guys think, should I keep going the way I am going by just putting money in the bank until I finish my apprenticeship and in the mean time do my due diligence on real estate (but I don't want to miss out on the housing market while everything is on sale)? Should I start paying down the mortgage and start the fastlane when I get out of debt? Or jump in and do something now. Thank you reading my post and your input. :smxF:
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