whoa! I skip a few days and the thread blows up!!
but this pumps me up!
I feel pretty pathetic with my budgeting and frugal living compared to you guys, but this motivates me to do a better job!
@n64bomb - that is pretty impressive! few questions:
1.) did you have any help (ie. did your parents help you put a down payment on your properties? do you have parents or friends in real estate that helped you find a good opportunity to invest? how did you get experience in real estate investing and renovations without getting ripped off?)
2.) where did you do research for investments? Everytime I try to research, it seems like it's a company looking to sell a seminar on "getting rich", but in reality, they're not rich...they just sell a seminar.
3.) my loans will be paid off by next year - how would you outline the process for getting into commercial real estate? seems like that's where all the big bucks are
the other big surprise I have - is that if it's so simple, why isn't everyone else doing it? I had a plan to buy 3-family homes in SoCal - but there are dozen other investors that will bid me out...inflating the value of the property beyond what an RPh salary can afford without a sizable down payment. It is easy, but everyone else was doing it, so I never even get a chance.
& as momus said - I'm also uneasy about doing that "on the side" while working full time...my parents had small businesses as I grew up, and it was a 60 hour/week commitment...but then again, if you want it enough, you'll find the time.
@ momus - same with you man, where do you invest? even if I'm not making $20k/month, after my loans are paid off, I'd like to hit a mil in 6 years! did you have any EOC after you graduated, and did you live at home?