- Joined
- Jan 11, 2013
- Messages
- 128
Hey everyone!
My name is Mike. A bit about me...I'm 23, born and raised in NY and currently live in Southern California with my wife. I'm a full-time college student working towards a Doctorate of Physical Therapy(still a couple years from finishing). I was in the Marine Corps for 4 years, got out about a year and a half ago and have since moved forward with some of our plans, including school.
My wife and I bought a house when we were 20 here in CA. It was a bit of a cosmetic fixer, but a beautiful large, newer house in a great neighborhood hit HARD by the recession, tons of inventory and over a 50% drop in value. We're working on some of the last larger projects, and the plan is to rent it out afterwards and move on to the next, rinse and repeat. We hope to acquire 4-5 properties in the area and pay them off by the time we're 50 and use the extra income from them as a large portion of our retirement income. We've been very happy with the progress we've made and feel we're on the right track with our intentions, but both agreed it felt like we were "waiting" to get to some of the fixes, "waiting" for inventory to drop, "waiting" for rent prices to go up, and even once we're profiting, "waiting" until the properties are paid off to fully enjoy our investments. That just didn't seem right to me, I'm all for sacrificing towards a better tomorrow but it felt like there had to be something to speed us along, or let us enjoy ourselves more along the way. I spent a couple years reading various investment, business, finance, and entrepreneurship books and always felt like I learned so much but couldn't apply any of it afterwards. To be honest, I haven't actually read TMF yet, I just found the forum the other day and have had my nose buried since. I ordered the book though, and put it at #1 on my reading list. Even without having read it, I feel that based on the general thought process displayed on the forum that this is exactly the type of thing we've been looking for.
We have several ideas that we'd like to move forward with, but we're planning on first going with what we know is a highly demanded product/niche, hopefully delivering the item in a way that makes the experience much more pleasant and convenient for the consumer(adding VALUE). It's also what we believe is a lower risk venture, as it only requires a basic website and some marketing, which we hope to pay for in equity. Either way, I'm not overly concerned with the success or failure of this project as my main goal is to have followed through and taken action.
Anything else, let me know!! I'm looking forward to getting to know everyone better!
Mike
My name is Mike. A bit about me...I'm 23, born and raised in NY and currently live in Southern California with my wife. I'm a full-time college student working towards a Doctorate of Physical Therapy(still a couple years from finishing). I was in the Marine Corps for 4 years, got out about a year and a half ago and have since moved forward with some of our plans, including school.
My wife and I bought a house when we were 20 here in CA. It was a bit of a cosmetic fixer, but a beautiful large, newer house in a great neighborhood hit HARD by the recession, tons of inventory and over a 50% drop in value. We're working on some of the last larger projects, and the plan is to rent it out afterwards and move on to the next, rinse and repeat. We hope to acquire 4-5 properties in the area and pay them off by the time we're 50 and use the extra income from them as a large portion of our retirement income. We've been very happy with the progress we've made and feel we're on the right track with our intentions, but both agreed it felt like we were "waiting" to get to some of the fixes, "waiting" for inventory to drop, "waiting" for rent prices to go up, and even once we're profiting, "waiting" until the properties are paid off to fully enjoy our investments. That just didn't seem right to me, I'm all for sacrificing towards a better tomorrow but it felt like there had to be something to speed us along, or let us enjoy ourselves more along the way. I spent a couple years reading various investment, business, finance, and entrepreneurship books and always felt like I learned so much but couldn't apply any of it afterwards. To be honest, I haven't actually read TMF yet, I just found the forum the other day and have had my nose buried since. I ordered the book though, and put it at #1 on my reading list. Even without having read it, I feel that based on the general thought process displayed on the forum that this is exactly the type of thing we've been looking for.
We have several ideas that we'd like to move forward with, but we're planning on first going with what we know is a highly demanded product/niche, hopefully delivering the item in a way that makes the experience much more pleasant and convenient for the consumer(adding VALUE). It's also what we believe is a lower risk venture, as it only requires a basic website and some marketing, which we hope to pay for in equity. Either way, I'm not overly concerned with the success or failure of this project as my main goal is to have followed through and taken action.
Anything else, let me know!! I'm looking forward to getting to know everyone better!
Mike
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