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I'm not sure if this has been done here or not but what exactly is a fastlane plan?
Where do you draw the line? Obviously this is not a big deal because if I can figure out a way to make an extra $50 a month I'll implement it.
Anything to move in the right direction will ultimately be of benefit. But, I started thinking about buying more rental property. And I asked myself, is it fastlane. I had to answer myself (not out loud of course) NO. I've never met a SFH landlord who got rich quick. I've met more who have, or have almost, gone broke.
I guess my definition of a fastlane plan could be a lot different than somebody elses. I've always kind of thought that ten years is about the standard time it takes for someone to go from not rich to rich. I guess For some it could take less because they have an idea and are in the right place at the right time. For others it could be a lifetime of learning and eventually hitting on the right idea and using the right principles.
As I write this I believe the difference between slowlane and fastlane begins with the principles upon which the business is built. You could then leverage the speed with which the business is built using the proper marketing techniques. But it all starts with the idea. If you've got a good idea you can hire out the rest.
So, does it matter how much money your fastlane business makes? It does to me. If I go back to the SFH rental business I would say we are using the right principles but there's no way it's going to produce enough money in a short period of time to be considered fastlane in and of itself. It could be part of an overall plan but in and of itself I say no way.
This is not intended to be a real estate post. I'm more interested in hearing what others think the fastlane is, rather than isn't.
Have a great day!
Where do you draw the line? Obviously this is not a big deal because if I can figure out a way to make an extra $50 a month I'll implement it.
Anything to move in the right direction will ultimately be of benefit. But, I started thinking about buying more rental property. And I asked myself, is it fastlane. I had to answer myself (not out loud of course) NO. I've never met a SFH landlord who got rich quick. I've met more who have, or have almost, gone broke.I guess my definition of a fastlane plan could be a lot different than somebody elses. I've always kind of thought that ten years is about the standard time it takes for someone to go from not rich to rich. I guess For some it could take less because they have an idea and are in the right place at the right time. For others it could be a lifetime of learning and eventually hitting on the right idea and using the right principles.
As I write this I believe the difference between slowlane and fastlane begins with the principles upon which the business is built. You could then leverage the speed with which the business is built using the proper marketing techniques. But it all starts with the idea. If you've got a good idea you can hire out the rest.
So, does it matter how much money your fastlane business makes? It does to me. If I go back to the SFH rental business I would say we are using the right principles but there's no way it's going to produce enough money in a short period of time to be considered fastlane in and of itself. It could be part of an overall plan but in and of itself I say no way.
This is not intended to be a real estate post. I'm more interested in hearing what others think the fastlane is, rather than isn't.
Have a great day!
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