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Hello I would like to share some facts, that in the future I will teach my son and daughter about some traps in the road to be Fastlane.
First some background my parents immigrated to Brazil in 1976 when I was almost 1 year old from Taiwan, my father worked very hard after 15 years he had 1 million dollars in cash, first trap he lend money for a friend by emotion result made the friend rich and had a nightmare to have the money back.
Trap 2 got the money he had joined a group of friends to open a factory in china to make plastic files, it was the 90s well before main land china became the outsourcing hot place to be it had all the commandments but control lost money and had to came back to Brazil.
Trap 3 I started to help we made the million back lost a golden opportunity to buy real state it was like buying a plot in the middle of New York for us$500.000.00 that the real value was 3 million we didn’t see the potential.
Trap 4 have the belief that 1 million was a lot of money and spend it like making more tomorrow from the business violating commandment of time and not investing to built a system and passive income.
About my wife parents.
They had a construction company now bankrupted 29/02 worked well for 35 years was a very stable way to make a living after all japan was growing getting out of the second world war becoming a economic super power.
Trap 5 you do earn a lot of money but first you get a building contract from the government, lend heavily from some banks, built, receive the money to pay off the debts, expenses, materials and finally keep the difference; sounds simple there is one problem control on when to get the next project, highly specialized job not easy to apply in other areas
Lessons we learned.
Working with family is ok but be sure to have your finances separated from the business and your family, learn to say no in lending without guaranties specially when the business is sinking, when it do sink takes the entire family and a bonus the family is destroyed I don’t want to be the victim here happened twice to us to learn it please be warned.
Thank you for your patience in this long post I want to finish with a tale.
In ancient china there was 2 kingdoms were their frontiers were a wide river there were many skirmishes and retreats in the war a general had to make a decisive battle the night before the battle he provided for the troops the finest food and all the wine they could drink and came the day of the battle the first order of the general was to destroy the camp and the cooking pots, after crossing the river he ordered to destroy the boats and so nobody had the option to retreat but commit 100% to the battle or die.
Our camp and boats are destroyed I will be in California by September and next year in the beer and pancakes I will be there.
Thank you
First some background my parents immigrated to Brazil in 1976 when I was almost 1 year old from Taiwan, my father worked very hard after 15 years he had 1 million dollars in cash, first trap he lend money for a friend by emotion result made the friend rich and had a nightmare to have the money back.
Trap 2 got the money he had joined a group of friends to open a factory in china to make plastic files, it was the 90s well before main land china became the outsourcing hot place to be it had all the commandments but control lost money and had to came back to Brazil.
Trap 3 I started to help we made the million back lost a golden opportunity to buy real state it was like buying a plot in the middle of New York for us$500.000.00 that the real value was 3 million we didn’t see the potential.
Trap 4 have the belief that 1 million was a lot of money and spend it like making more tomorrow from the business violating commandment of time and not investing to built a system and passive income.
About my wife parents.
They had a construction company now bankrupted 29/02 worked well for 35 years was a very stable way to make a living after all japan was growing getting out of the second world war becoming a economic super power.
Trap 5 you do earn a lot of money but first you get a building contract from the government, lend heavily from some banks, built, receive the money to pay off the debts, expenses, materials and finally keep the difference; sounds simple there is one problem control on when to get the next project, highly specialized job not easy to apply in other areas
Lessons we learned.
Working with family is ok but be sure to have your finances separated from the business and your family, learn to say no in lending without guaranties specially when the business is sinking, when it do sink takes the entire family and a bonus the family is destroyed I don’t want to be the victim here happened twice to us to learn it please be warned.
Thank you for your patience in this long post I want to finish with a tale.
In ancient china there was 2 kingdoms were their frontiers were a wide river there were many skirmishes and retreats in the war a general had to make a decisive battle the night before the battle he provided for the troops the finest food and all the wine they could drink and came the day of the battle the first order of the general was to destroy the camp and the cooking pots, after crossing the river he ordered to destroy the boats and so nobody had the option to retreat but commit 100% to the battle or die.
Our camp and boats are destroyed I will be in California by September and next year in the beer and pancakes I will be there.
Thank you
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