Early on I decided not to depend on anybody else to provide my paycheck which is why I turnde to real estate.
Now I’ve had my ups and downs, it’s been 17 years so something’s got to be good with this strategy. I’ll let the experience do the talking.
Back in 1997, I was given a choice to buy the house I was renting. The owner’s daughter came to us and said, ‘she’s had a stroke and needs to sell off some of her inventory”. We were blessed to have her give us the opportunity first to purchase, so we did. That was my first experience with real estate.
I fell in love.
I had a friend that was a mortgage broker, so I started there. It’s funny how life (universe, God) will take you where you need to go. My first investment property was in Nampa, Idaho. I was buying sight unseen via more professional friends that I trusted. It turned out great. So I continued and eventually fell into the 2008 struggle that most of us experienced.
I lost everything.
Turns out, via more professional friends (investors) I bought wrong. So I rebuilt. Nothing seems to be more forgiving than real estate. It let me succeed in a field I thought ruined me. Which I hear from so many people. What they should be saying is I ruined myself. I take full responsibility of my loss. I also take full responsibility for my wealth. It was the best lesson I could have learned. I now have fixed, flipped, wholesaled and built a portfolio that I’m always growing.
I don’t deal with tenants or toilets either. I have since helped hundreds across the nation to build their wealth. I’ve noticed that they turned to real estate when there was something crazy happening in their life. Just like my landlord did back in 1997.
She had the real estate inventory to take care of her expenses while she was down. This is the best long term care a person can ask for.
Some current devastating moments:
- The Los Angeles Unified School District has been on strike since Monday, January 14, 2019?
That’s over 30,000 teachers!
- The government employees are not receiving pay due to the government shut downs.
- GM is laying of thousands of workers as of Nov 2018
I’m sure I could go on with this list of life altering (where’s my next paycheck coming from) moments. But
the big question is:
What are you doing to secure your future?
Real Estate may not be your passion, but it certainly can be the vehicle that can fund your passion and/or afford medical emergencies, so you don’t have to worry about a JOB. Having to show up in order to earn a dollar. Being an entrepreneur is not easy but having the two of them together is the perfect wealth building tool. Look for my wealth building tips so you are not on the list of thousands that have lost their paycheck.
To your wealth,
Jo Anna Wright, founder of Bottom Line Wealth