I was in the military for ten years, just got out at the beginning of the year. At every duty station my wife and I would buy a house with 0 down with the VA loan. When I transferred we would rent it with a property manager, and then do it again. Ended up with four rentals and now that I'm making way more at my civilian job we plan on buying 1-2 rentals a year until we have enough to be completely financially independent.
The best part of your videos is you're not selling a damn thing. You just come across as very honest and upfront just telling your story I would have went back to Folly Beach
Thanks man. I'm glad someone noticed. I just want to help people get out of the grind. It's not easy, but it's simple. Folly Beach is too expensive for what it is. It's got a cool vibe, but the beaches aren't pretty, the rules are stupid, traffic sucks. I got a $500 ticket on the beach because I forgot a cup to pour beer my in. Now I don't think you can't even have a beer on the beach. That's dumb.
Great to hear your story and your honesty on the process. It’s always great to learn the not so sexy side of building wealth. Most ppl on RUclips only point out the success. You do a great job at sharing the behind the scenes story which for me personally is more fascinating to learn what it took to achieve success. Thanks!
Thank you. I think if more people were honest about it, it would actually help more people find the path that actually works. That is the difference between people selling courses and someone like me.
I've been waiting for this video. It was great to hear how you overcame such a challenging situation. I agree that it is the F.I. that's the important part of F.I.R.E. The R.E. can be whatever you want since it'll be ever-evolving. 😊
Thank you. That was the short version too. There was way more bad stuff, but I didn't think anyone would watch 3 hours of the challenges I had to overcome. 😆
I 100% agree with you, I’m 21 and not financially great yet but I know full well even though I don’t have you’re levels of money I know that it I retired at that age I would just get bored sitting round on the beach all day and I think everyone would be the same too they just don’t want to accept it
I wish there was all of this content available when I was 21. Good luck my friend. If you start on a solid path your can build a lot of wealth and live the life you want to live.
I’m turning 38 in November. I’m familiar with the tools of a rotary phone 😂 . This video is just what I needed. Trying to get into vacation rentals within 2 years.
Real estate really is where it’s at. I’ve been going hard into stocks the last year just to try to diversify but man is it slow haha. It’s amazing how few of these FIRE people talk about real estate. Well done not having to go bankrupt!
Great video! Just came across your channel and we agree the lean fire isn’t the way to go. We were able to fire our 9-5 at 28 through real estate and stocks but continue to hustle everyday but it’s our own thing and give us the freedom to do whatever we want. You just got a new subscriber 😊
Thank you for the video and for sharing your story. Thank you also for being honest and not just sell the pretty part of the process. The process works but there is always hard work and some tears behind it:)
I go back to hear the story ever so often so I can stay motivated in case things end like it did in the past… although I don’t see it happening but every 6 months they say it is 😅
Great story of the American dream. I believe it can still happen. But feel with the covid house boom, it could be another 08 crash type sceam. Best to pay cash and save when times are good. Wise purchases makes profitable futures. Keep these videos coming!!
Thanks Mountain Dreamer. I don't think there is going to be a crash. It's going to be tough for people to get in the game now. But, it's always tough getting started. But, rents will be higher too so it all works out. I'll keep making videos if you keep watching them. 😉
@@TheRetirementality I am in Florida. Average income here is low and these people are buying 200k houses for 500k and can't rent them out because they are first of all asking for credit scores and security deposits that are so high that anyone with that credit and cash reserves would just purchase a house lol, people with good credit and 20k are obviously not people who would rent when they can move to a cheaper area and buy. I think given the problem the landlords are having here, I will be able to grab up a lot of property when these geniuses are forced to sell for a loss
Thank you for this video. Im anew subscriber. 40 y/o and looking to have financial flexibility. I love my job but ultimate goal is that. I've had a lot of misstep and really crazy events over past 10 years but this gives me encouragement that I know I can turn things around. Goal is to have that flexibility by 45. Thank you!
I retired also at 45. It took so long because I had to make the mistakes first. Once I learned from the mistakes, it only took 5 years to retire. I didn't do it with real estate. I made it with the help of cash from real estate. Had I skipped real estate all along, I would have been retired at 37. Real estate is not for all, neither is youtub'ing, or having a business.
Great content as usual and super informative! Congratulations on failing forward, I'm in the process of following your footsteps and hopefully soon I myself can find a investment property on the island of PR. sounds like you had a supporting partner, a goal, and a hell of a lot of ambition to be successful no matter the odds....The right mentality!
Thank you! You do need a partner who sees the vision. For me she is also the one who sometimes has to make me pump the brakes. Like I say, anyone can do it. Good luck on finding something in PR. There are still good deals there.
It all starts with getting your first property. Having the FICO and income to qualify for a mortgage should be most Americans priority. Because of the easy access to extreme amounts of leverage through mortgages, real estate is the likeliest, most common way for the average person to build wealth.
That is very true. I did it on my own the first time before I went broke, but it was easier the second time. You can still do it. It's not a race, slow and steady will get you there.
Hey Brother, very detailed and inspiring videos. Can you tell me where your place is in PR? Also what companies would you recommend using and staying away from? We are buying a home in a few weeks in southern PR.
Hi and thanks for the video. Just wondering, you mentioned you gave several rentals, some of which are not near where you live. How do you manage those properties that are far away and what have you learned what to do and not do regarding those rentals that are further away? Thanks
it sounds like rocket science to someone who has never been approved for a huge loan for anything yea. in which case where does the money come from to buy an appreciable asset when one has a glass ceiling on income despite qualifications and isnt going to get a line of credit (time) for an asset that increases in value over time faster than the credit increases in debt?
I'm trying to retire early as well. I'm 29 and have a little over 100k saved. This year I will make about 100k. I'm at the point where I'm trying to figure out how I should invest. Do you think it would be a good idea to start in real estate by buying a condo for cash??
I'm a real estate guy so I think that is the fasted path. I'd use some leverage when buying real estate. I'd look at putting 20-30% down and plan to hold it for a while. I just bought one property every year and it got a little easier every year.
When you were buying the real estate over those 5 years with your wife were you using an LLC with business financing or personal credit with traditional mortgages?
If it wasn't for your girlfriend, you wouldn't have been able to do anything. Also, you lived in a lower cost of living area. Where did you live when you first moved to South Carolina? Did you get a place without a job or any income? Basically, without her credit and income, you wouldn't have been able to buy the first home. It would've been more inspiring, if you had done it by yourself.
You can keep picking my story apart, but if you do, you are missing the point. I was in Folly Beach, not a low cost area. Yes, my girlfriend had $30K saved up. It was her life savings. I've turned that into a $3M real estate portfolio. Sorry you're not impressed by that. But, I'm not trying to impress anyone. I'm trying to show people there is a way to find your own success in life. If you make excuses like, "I live in the NE and it's too expensive here" then you will not succeed. If you are watching videos like this one, you need to find the things from that you can implement in your life. I had the worst credit you can have, my girlfriend was not a US citizen, we couldn't qualify for a mortgage... but we found a way to get started and make things happen. Some times you have find your own path. Maybe my path is not a good path for you. That means you have more work to do because you have to figure it out for yourself. Good luck.
People who say I got lucky are the ones who can't do what I've done. I've done it twice and people like you say I'm lucky because you can't do it once. I put out videos like this to try to help people to do what I've done. I'm putting out a road map for you to follow. You can follow it or you can say the map is stupid and it doesn't work and pout and stomp your feet. But I can assure you that luck had nothing to do with it. I also did not file bankruptcy. So you know what they when you "ass-u-me" things. I didn't get bailed out by anyone expect my own hard work. But, thanks for watching BIG RED.
@@TheRetirementality Buddy i’m worth over $1million at age 38 and wife and i have only started making over $100k the last two years. People who file BK just make me sick. You didn’t do it twice because the first time you filed BK and who knows how leveraged you are now and what’s to come
@@BigRed2 You're not a very good listener. I said I did not file BK. I never said it in the video and I told you in my reply I didn't. That is why I said when you assume something it makes you look like an ass. I guess you missed that part too. You have a big head start on where I was at 38. So my advice to you would be to get off your high horse and try to listen more in your life. It will pay dividends for sure.
@@BigRed2 He didn't file bankruptcy. But even if he did...so what??? Is using the law and going by the laws of bankruptcy now something that people shouldn't do? This nonsense of looking down at people is ridiculous. Also bankruptcy isn't some free lunch. You still pay debt. You still have your assets sold or repossessed I pay debt. When a major business like Toys R Us goes bankrupt and files for bankruptcy you holier than thou people never say a peep. It's just business. But should a small business mortgage company owner file for bankruptcy than we get tsk tsking from people like you. If you don't like the bankruptcy laws write you local politician and make it a political issue to change the law. Until then stop with the holier than thou attitude.
@@ariefraiser140 idk I’m kinda with this guy. This guy lost it all yet wants to hate on people for saying barista fire and wants to act like you should only listen to him because he failed and then he succeeded and that makes him special. Like no hate man but he seems like he has a chip on his shoulder
I was in the military for ten years, just got out at the beginning of the year. At every duty station my wife and I would buy a house with 0 down with the VA loan. When I transferred we would rent it with a property manager, and then do it again. Ended up with four rentals and now that I'm making way more at my civilian job we plan on buying 1-2 rentals a year until we have enough to be completely financially independent.
That is awesome. I love hearing stories like this. How many properties do you think you'll need?
@@TheRetirementality aiming for 20
@@noone-um4hk That's awesome. If they are long term you can do it, but personally I don't think I could manage that many short term rentals.
@@TheRetirementality nah, I'm lazy when it comes to my investments lol, all long term with a property manager.
@@noone-um4hk That's the way to go.
The best part of your videos is you're not selling a damn thing. You just come across as very honest and upfront just telling your story I would have went back to Folly Beach
Thanks man. I'm glad someone noticed. I just want to help people get out of the grind. It's not easy, but it's simple. Folly Beach is too expensive for what it is. It's got a cool vibe, but the beaches aren't pretty, the rules are stupid, traffic sucks. I got a $500 ticket on the beach because I forgot a cup to pour beer my in. Now I don't think you can't even have a beer on the beach. That's dumb.
Great to hear your story and your honesty on the process. It’s always great to learn the not so sexy side of building wealth. Most ppl on RUclips only point out the success. You do a great job at sharing the behind the scenes story which for me personally is more fascinating to learn what it took to achieve success. Thanks!
Thank you. I think if more people were honest about it, it would actually help more people find the path that actually works. That is the difference between people selling courses and someone like me.
I’m 37… I already have one duplex… I decided that I want to retire by 50… this video gives me hope! Thank you for sharing ❤
That's great. You've got a great start!
I've been waiting for this video. It was great to hear how you overcame such a challenging situation.
I agree that it is the F.I. that's the important part of F.I.R.E. The R.E. can be whatever you want since it'll be ever-evolving. 😊
Thank you. That was the short version too. There was way more bad stuff, but I didn't think anyone would watch 3 hours of the challenges I had to overcome. 😆
Omg agreed
You have a lot of positive energy. Thanks for sharing your story, I enjoyed listening!
Thank you! I appreciate that.
I 100% agree with you, I’m 21 and not financially great yet but I know full well even though I don’t have you’re levels of money I know that it I retired at that age I would just get bored sitting round on the beach all day and I think everyone would be the same too they just don’t want to accept it
I wish there was all of this content available when I was 21. Good luck my friend. If you start on a solid path your can build a lot of wealth and live the life you want to live.
I’m turning 38 in November. I’m familiar with the tools of a rotary phone 😂 . This video is just what I needed. Trying to get into vacation rentals within 2 years.
Ha! I'm really glad you like the video. I'll be doing more vacation rental videos so keep watching.
Real estate really is where it’s at. I’ve been going hard into stocks the last year just to try to diversify but man is it slow haha. It’s amazing how few of these FIRE people talk about real estate. Well done not having to go bankrupt!
Great video! Just came across your channel and we agree the lean fire isn’t the way to go. We were able to fire our 9-5 at 28 through real estate and stocks but continue to hustle everyday but it’s our own thing and give us the freedom to do whatever we want. You just got a new subscriber 😊
Thanks man. I guess I missed this comment when you made it. I just checked out your channel and subscribed.
@@TheRetirementality Thanks for subscribing! Maybe in the future we can do a collab
@@FinancialFreedomLifestyle Yea. I'm looking to start doing some collabs.
Thank you for the video and for sharing your story. Thank you also for being honest and not just sell the pretty part of the process. The process works but there is always hard work and some tears behind it:)
I go back to hear the story ever so often so I can stay motivated in case things end like it did in the past… although I don’t see it happening but every 6 months they say it is 😅
I'm going to have a new version coming out. I just got back from Montana and I shot video in front of all the houses I lost in foreclosure.
Great story of the American dream. I believe it can still happen. But feel with the covid house boom, it could be another 08 crash type sceam. Best to pay cash and save when times are good. Wise purchases makes profitable futures. Keep these videos coming!!
Thanks Mountain Dreamer. I don't think there is going to be a crash. It's going to be tough for people to get in the game now. But, it's always tough getting started. But, rents will be higher too so it all works out. I'll keep making videos if you keep watching them. 😉
@@TheRetirementality I am in Florida. Average income here is low and these people are buying 200k houses for 500k and can't rent them out because they are first of all asking for credit scores and security deposits that are so high that anyone with that credit and cash reserves would just purchase a house lol, people with good credit and 20k are obviously not people who would rent when they can move to a cheaper area and buy. I think given the problem the landlords are having here, I will be able to grab up a lot of property when these geniuses are forced to sell for a loss
Great video !!! thank you for sharing your story .
I appreciate ur story very much! Thank you!
Thanks man. Great channel name.
Thank you for this video. Im anew subscriber. 40 y/o and looking to have financial flexibility. I love my job but ultimate goal is that. I've had a lot of misstep and really crazy events over past 10 years but this gives me encouragement that I know I can turn things around. Goal is to have that flexibility by 45. Thank you!
Welcome aboard! You have plenty of time. Focus on expenses to start with. Keep them low and start investing in something that brings in cash flow.
Thank you so much for sharing your story!!
Thanks for watching.
Great story!
I retired also at 45. It took so long because I had to make the mistakes first. Once I learned from the mistakes, it only took 5 years to retire. I didn't do it with real estate. I made it with the help of cash from real estate. Had I skipped real estate all along, I would have been retired at 37. Real estate is not for all, neither is youtub'ing, or having a business.
Great content as usual and super informative! Congratulations on failing forward, I'm in the process of following your footsteps and hopefully soon I myself can find a investment property on the island of PR. sounds like you had a supporting partner, a goal, and a hell of a lot of ambition to be successful no matter the odds....The right mentality!
I too am planning to go to PR!! I wish you the best!! Keep pushing!!
Thank you! You do need a partner who sees the vision. For me she is also the one who sometimes has to make me pump the brakes. Like I say, anyone can do it. Good luck on finding something in PR. There are still good deals there.
You can do it. Stay focused.
It all starts with getting your first property. Having the FICO and income to qualify for a mortgage should be most Americans priority. Because of the easy access to extreme amounts of leverage through mortgages, real estate is the likeliest, most common way for the average person to build wealth.
This is it. It's that first step that is always the hardest. It gets easier as you go.
Amazing... just don't expect most people to have this kind of energy and no family responsibilities. Great story anyway.
Financial Independence Recreational Employment - I like it!
Most people lose their shirts in RE. But good for you. RE destoyed me.
Well, it destroyed me the first time around. I think I just did it a little better and a lot safer the second time around.
Greed will always get to back to zero.
Makes sense when there are two incomes!!! It’s more difficult when you you are on your own!
That is very true. I did it on my own the first time before I went broke, but it was easier the second time. You can still do it. It's not a race, slow and steady will get you there.
You are super inspiring to me. I’m glad I found your page. Thank you for sharing.
Thank you for saying so, and for watching.😊
Thanks for the video great info
Thanks for watching Monique!
Takes balls to go broke investing in real estate and then proceed to go invest in real estate
I know the idea was good I just had to execute it the right way. My second try worked out a lot better.
But he didn't do it alone. Having someone else to help wasva big advantage.
Great video 💯
Thank you for watching!
Hey Brother, very detailed and inspiring videos. Can you tell me where your place is in PR? Also what companies would you recommend using and staying away from? We are buying a home in a few weeks in southern PR.
Hi and thanks for the video. Just wondering, you mentioned you gave several rentals, some of which are not near where you live. How do you manage those properties that are far away and what have you learned what to do and not do regarding those rentals that are further away? Thanks
Thanks 🙏🏼 Buena información
DIOS te bendiga
Gracias!!!
it sounds like rocket science to someone who has never been approved for a huge loan for anything yea. in which case where does the money come from to buy an appreciable asset when one has a glass ceiling on income despite qualifications and isnt going to get a line of credit (time) for an asset that increases in value over time faster than the credit increases in debt?
I'm trying to retire early as well. I'm 29 and have a little over 100k saved. This year I will make about 100k. I'm at the point where I'm trying to figure out how I should invest. Do you think it would be a good idea to start in real estate by buying a condo for cash??
I'm a real estate guy so I think that is the fasted path. I'd use some leverage when buying real estate. I'd look at putting 20-30% down and plan to hold it for a while. I just bought one property every year and it got a little easier every year.
👏🤟🙌🤙👍👍👍
When you were buying the real estate over those 5 years with your wife were you using an LLC with business financing or personal credit with traditional mortgages?
Great question. It makes a difference. Obviously, if he had declare bankruptcy, it would've been nearly impossible to purchase any real estate.
@@crod6431sometimes it's easier to get a loan with a fresh bankruptcy because the banks know you can't declare for another 7 years
Necklace noise is annoying
great feedback
I want to be you!
Ha! It looks for more fun now, but you didn't want to be me when I was 38. 🙂
Now he maybe in trouble.
I'm doing good. Why do you think that? Maybe some big changes coming for me soon though.
If it wasn't for your girlfriend, you wouldn't have been able to do anything. Also, you lived in a lower cost of living area. Where did you live when you first moved to South Carolina? Did you get a place without a job or any income? Basically, without her credit and income, you wouldn't have been able to buy the first home. It would've been more inspiring, if you had done it by yourself.
You can keep picking my story apart, but if you do, you are missing the point. I was in Folly Beach, not a low cost area. Yes, my girlfriend had $30K saved up. It was her life savings. I've turned that into a $3M real estate portfolio. Sorry you're not impressed by that. But, I'm not trying to impress anyone. I'm trying to show people there is a way to find your own success in life. If you make excuses like, "I live in the NE and it's too expensive here" then you will not succeed. If you are watching videos like this one, you need to find the things from that you can implement in your life. I had the worst credit you can have, my girlfriend was not a US citizen, we couldn't qualify for a mortgage... but we found a way to get started and make things happen. Some times you have find your own path. Maybe my path is not a good path for you. That means you have more work to do because you have to figure it out for yourself. Good luck.
Guy goes Bankrupt and gets lucky, should have to pay back all his debts but he got a bailed out by tax payers
People who say I got lucky are the ones who can't do what I've done. I've done it twice and people like you say I'm lucky because you can't do it once. I put out videos like this to try to help people to do what I've done. I'm putting out a road map for you to follow. You can follow it or you can say the map is stupid and it doesn't work and pout and stomp your feet. But I can assure you that luck had nothing to do with it. I also did not file bankruptcy. So you know what they when you "ass-u-me" things. I didn't get bailed out by anyone expect my own hard work. But, thanks for watching BIG RED.
@@TheRetirementality Buddy i’m worth over $1million at age 38 and wife and i have only started making over $100k the last two years. People who file BK just make me sick. You didn’t do it twice because the first time you filed BK and who knows how leveraged you are now and what’s to come
@@BigRed2 You're not a very good listener. I said I did not file BK. I never said it in the video and I told you in my reply I didn't. That is why I said when you assume something it makes you look like an ass. I guess you missed that part too. You have a big head start on where I was at 38. So my advice to you would be to get off your high horse and try to listen more in your life. It will pay dividends for sure.
@@BigRed2 He didn't file bankruptcy. But even if he did...so what??? Is using the law and going by the laws of bankruptcy now something that people shouldn't do? This nonsense of looking down at people is ridiculous. Also bankruptcy isn't some free lunch. You still pay debt. You still have your assets sold or repossessed I pay debt. When a major business like Toys R Us goes bankrupt and files for bankruptcy you holier than thou people never say a peep. It's just business. But should a small business mortgage company owner file for bankruptcy than we get tsk tsking from people like you. If you don't like the bankruptcy laws write you local politician and make it a political issue to change the law. Until then stop with the holier than thou attitude.
@@ariefraiser140 idk I’m kinda with this guy. This guy lost it all yet wants to hate on people for saying barista fire and wants to act like you should only listen to him because he failed and then he succeeded and that makes him special. Like no hate man but he seems like he has a chip on his shoulder
Awesome story!