gtmeouttahere
Recycles dryer sheets
- Joined
- Mar 24, 2006
- Messages
- 128
New to this board and I have a question. at 33 yoa, I have taken advantage of a strong real estate market and strong home sales to propell myself into position I never thought likely.
I have been buying land in the last 3-4 years and have moved my family from place to place, 2 years at a time to get tax advantages, within the same school district. Every two years I have built a home for myself to move into and have sold my prior home. Plus I have done some other developing on the side as an extra income producer. I really enjoy the work but have a dillema of sorts. I still have a full time job where I make about $50,000 a yr and my wife works part time at $29,000 a year. I also am a disabled vet with two children.
Here's the deal. I hate my job and it sucks the life outta me. I really enjoy developing and have done well at it. I'm not saying I want to necessarily retire, I would like to semi retire within the next few years and build houses on the side. I have family in 3 different states and know many people who could help me make developing work in them areas. I work smarter not harder doing these developments and I keep them small.
Here is my portfolio. Have $225,000 in investments other than real estate. Have $250,000 equity in my current home, have approximately $80,000 equity in one of my project homes. Am building a luxury waterfront home in seattle area on some land I purchased 3 years ago and am planning to move into that for two years and move to Minnesota where it is cheaper to live and have family back there. Comps show my equity after all is said and done at about 1 million+ (current market value). Also have two more lots to develop in the near future.
Why am I procrastinating? I am still working a job that makes me far less money and causes me to work twice as hard and I don't enjoy it. I guess it is a traditional way of life and i have a certain amount of fear cutting myself away from the normal steady paycheck.
I really want to spend more time with my family and want to coach High School sports also have many hobbies I don't have the time to do.
I guess I don't know what I am looking for but maybe some direction and some confidence to move on to the next level in my life. There's got to be more to life than work I don't enjoy. The last few years have been a blur and like I said, I didn't expect this kind of sucess so fast so it caught me off guard. In a good way, don't get me wrong. I don't need a lot of money but I do have two kids a 10 yo and a 4 yo and realize education is not getting any less expensive. But also realize they don't stay young forever.
I am very proud of my accomplishments because back in 1996 my wife and I bought a trailor in a trailor park on a rented lot in tornado country. We were broke and I vowed to myself to never allow myself or my family to live that way again. So that may be the fear talking as well. I know what it's like to be broke.
I have been buying land in the last 3-4 years and have moved my family from place to place, 2 years at a time to get tax advantages, within the same school district. Every two years I have built a home for myself to move into and have sold my prior home. Plus I have done some other developing on the side as an extra income producer. I really enjoy the work but have a dillema of sorts. I still have a full time job where I make about $50,000 a yr and my wife works part time at $29,000 a year. I also am a disabled vet with two children.
Here's the deal. I hate my job and it sucks the life outta me. I really enjoy developing and have done well at it. I'm not saying I want to necessarily retire, I would like to semi retire within the next few years and build houses on the side. I have family in 3 different states and know many people who could help me make developing work in them areas. I work smarter not harder doing these developments and I keep them small.
Here is my portfolio. Have $225,000 in investments other than real estate. Have $250,000 equity in my current home, have approximately $80,000 equity in one of my project homes. Am building a luxury waterfront home in seattle area on some land I purchased 3 years ago and am planning to move into that for two years and move to Minnesota where it is cheaper to live and have family back there. Comps show my equity after all is said and done at about 1 million+ (current market value). Also have two more lots to develop in the near future.
Why am I procrastinating? I am still working a job that makes me far less money and causes me to work twice as hard and I don't enjoy it. I guess it is a traditional way of life and i have a certain amount of fear cutting myself away from the normal steady paycheck.
I really want to spend more time with my family and want to coach High School sports also have many hobbies I don't have the time to do.
I guess I don't know what I am looking for but maybe some direction and some confidence to move on to the next level in my life. There's got to be more to life than work I don't enjoy. The last few years have been a blur and like I said, I didn't expect this kind of sucess so fast so it caught me off guard. In a good way, don't get me wrong. I don't need a lot of money but I do have two kids a 10 yo and a 4 yo and realize education is not getting any less expensive. But also realize they don't stay young forever.
I am very proud of my accomplishments because back in 1996 my wife and I bought a trailor in a trailor park on a rented lot in tornado country. We were broke and I vowed to myself to never allow myself or my family to live that way again. So that may be the fear talking as well. I know what it's like to be broke.