So even though Monday is almost done here on the East Coast, I figured I would try this out as a weekly post. I know sometimes I need the most motivation and strength on Sunday and Monday nights so maybe you can benefit from this.
Here it is:
I KNOW YOU CAN DO THIS!
I know you can become a landlord! I did it. You can too.
I know you hear that a lot and I have a feeling most people use that phrase to sell more crap.
But I am dead serious about it.
Here is why I believe it.
I wasn’t born with any silver spoon in my mouth. I hustled working every day since I was 13 years old. From paper routes to Pizza Hut. From construction to college intern to the day I landed my first full-time job. I hustled and continue to hustle. Every day. Period.
I paid my own way through college.
My parents gave me a whopping $3,000 dollars for college. That’s it. That was way more than they could afford. But they did it anyway. And I am grateful for it. Why? Because it got me started. And it provided the momentum I needed to go from high school to undergrad. Right into community college. Some people call community college the 13th grade but I call it the bridge. Community college is the bridge that some people need to get that undergraduate degree. It was for me. I couldn’t afford a “real” college at the time. But community college got me to my associates degree which then got me to Rutgers University (RU!).
And what financial vehicle got me through the rest of community college and through Rutgers? Credit Cards. Because even back then the $3,000 my parents gave me lasted one semester at community college. Yup…good old debt inducing credit cards. But if you know anything about finance and leverage then you know the best debt is debt you can use to pay yourself back multiple times over. Debt that you can use on an appreciating asset. And that is what paying for college with a credit card did for me. I was able to pay the monthly payments to the credit card companies by using the money from my internship. And then after I graduated I went from my internship to being hired full time. PAY DAY! My salary allowed me to pay off my debt.
My salary then allowed me to buy my first house. And then my salary allowed me and my wife to buy the next house and rent out my first house. I didn’t know any other landlords. The numbers in my cash flow worked. I wanted to be a land lord. I wanted a second passive income. I just did it. I told myself that if it sucks then I’ll just sell the house. After a few years I knew land lording didn’t suck. Then our salary from our jobs and the income from the first rental property allowed us to purchase our second rental.
Nothing special. Just hustle. Figuring out what I wanted to do and getting it done with the resources I had. That’s all I did. That’s all I continue to do.
And you can do it too.
YOU CAN DO THIS!
I did it. I know you can do it too.
I hope this was helpful for you.
So what is your next step? I want to hear it. Write a comment below.
Thanks for letting me share. Make it happen this week!