Less but good quality/top shelf is what a neighbor of mine has been working towards. I get it but why do I keep inheriting all the stuff in his garage. He has been very gracious but now I realize he has a plan and I’m still learningless is more
some will understand most won’t
My buddy and were talking about that "luck" aspect. I've worked hard to get where I am, I am also very good with people and sales so doors tend to open for me. But I CANT contribute everything to that I've been lucky along the way and I would be arrogant to think I am not.My story is similar. I work for a company with unheard of benefits and excellent pay. A culture from the top down of "employee first". I thought about starting my own business about 10 years ago but didn't. I know this isn't the norm and for a lot of people the thought of working for someone turns their stomach. I've known a couple guys that worked for themselves for a long time and when their success came to end and were faced with going back to work for someone were paralyzed to the point of near financial ruin. Simply because they couldn't bring themselves to work for the man.
There are so many factors in career and life. One thing that is out of peoples control is the element of luck. haha... Hard work is also a key element but if you talk to any successful person there is an element of luck to their story, self employed or W2.
my brother and a partner were buying homes out of state in Ohio for dirt cheap and putting about the same amount of purchase price into the rehab. anywhere from $20,000 to $30,000
renting out like said to Sec. 8 and some private pay.
it can work out but it can become a nightmare also. The key is to have a good property management company that will stay on top of issues...
for the most part private pay people eventually moved out or stopped paying along with section 8 tenants could not pay their portion. ( usually 50 to 200 dollars)
the bad part was once evicted or moved out the entire home had to be rehabbed again. another 15 to 20 grand...
also it took 3 to 4 months to finish the turnover. labor is on Hawaii time around there... slow as molasses ( so yore out 4-5 months of pay)
they learned also that turnoverd were alot more out of state , which is also not the best ( reinvesting back into properties constantly)
homes are good in the sense people desire them more , but upkeep is a shit ton more
apartment units would probably be better as far as maintenance cost and turnover cost.