Things you coulda wouldashoulda done

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skrilla

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This is catered more to the older..err more experienced folks here.

I'm at a point where I'm looking for new opportunities to take advantage of while I am young, (I'm 24). I am self employed with no debt, kids, wife, or any other dependents. So ya, basically have enough time to do what I want.

My question is what are some of the things you are unable to do now but wish you would have done early on in life?

Discuss..
 


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Two chicks at the same time man.
 
Buy some real estate.

Residential and Commercial...

The deals are amazing right now.


An older buddy of mine started out at age 20 buying single family homes in ok neighborhoods.

1 house a year until he hit 30. At 30 he did a cashout refinance on the properties and he bought 3 houses a year until he hit age 40.

Hurricane Katrina hit and flooded out 80% of his portfolio. It was the greatest thing that could ever happen to him.

Most of the homes had mortgages of about 30k - 50k since he bought them cheap as bank repos or at the sheriff sale.

He had them insured on average for 150k to 200k.

He collected the insurance money and paid of the mortgages. He has a full time crew that works on his properties, so on average it costed him 50k -70k to put the houses back together into tip top shape.

Now he owns all of the homes free and clear. He also put about 50k - 100k in cash in his pocket for each home.

He rents them out on a special FEMA voucher program and the section 8 rental program.


I'm not saying that an unprecedented national disaster of epic proportions will befall upon your home town where your real estate holdings are that will allow you to bank stupid money and pay off your mortgages... but for the most part, real estate is a great wealth building tool...


Money in the bank.

Booyah.
 
Travel, man, no eye opener like seeing for yourself.. there are as many Indians (in India) that dont have electricity as there is the population of the US. Travel is a real eye-opener.. gives you real perspective..
 
U.S. Navy.. 77-83 Airman, Signalman.. nothing like seeing for yourself what the rest of the world looks like.. how lucky we are to be in the US..
 
can't agree w/ kimboslice - property is an investment true, but it can also tie you down. you need to look at your own personal goals to see if owning property is the thing for you. if a national disaster wouldn't have hit kimbos buddy would quite possibly be sucking some serious air (but sounds like he was buying low enough to have a buffer). it's possible there are other investments out there with similar rates of return that afford more freedom. but if you're in a place you like and see property as an investment strategy - then by all means buy - there are some great deals out there.

everyone else here is saying travel and i concur. see the world, expand some horizons, etc.
 
Travel to find where you want to live, then move there. Buy real estate there if that's your thing. But live where you want first.
 
pfgannon said:
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Two chicks at the same time man.
Click to expand...

office space FTW!

I've always said that if I had it to do over again, I'd live alone for a few years and find out my personal weaknesses. With a roommate/family you can lean on each other. There is nothing in life like being a complete person.

I know, it doesn't sound as exotic as traveling but that time will eventually pass ... you've got to deal with you forever.
 
skrilla said:
This is catered more to the older..err more experienced folks here.

I'm at a point where I'm looking for new opportunities to take advantage of while I am young, (I'm 24). I am self employed with no debt, kids, wife, or any other dependents. So ya, basically have enough time to do what I want.

My question is what are some of the things you are unable to do now but wish you would have done early on in life?

Discuss..
Click to expand...

I'll be 24 in less then a month and in the exact same situation as you. I know exactly what I'll be doing in the years to come, and that is sitting my ass down in front on my PC until I achieve financial independence.

Right now I'm in absorb mode, I've read so much SEO in the past month that I thought my brain was going to explode, noted every crucial thing I picked up along the way and soon I'll be in hit-n-run mode where I'll try every idea I picked up under the sun to see what works.

I'll share one of my most prized ideologies with you, keep it close by in your life and you should come out alright. I believe the biggest mistake someone does in the course of their life is not making enough of them. This all boils down to "No Mistakes = No Progress."

After achieving aforementioned financial independence, then start worrying about what to do with your life. The life that most of us want will require this, without it we can only continue to slave away at making someone else rich while wasting the most precious resource we'll ever have, "Time".

This is my plan and I'm sticking to it.
 
Travel, travel, travel.

If you know any languages, speak them. If you donßt learn them.

That and investing. Damn, I wish I had done some good stuff with my money.

::emp::
 
The only thing I'd do different is plan more.

99% of the things I've done with my life/business/family were unplanned. It's tough to travel right when you're early 20's. You can't hop a plane internationally for under $800 one way it seems. Once there, the amount of cash you need is staggering.

I do recommend staying the fuck away from debt. I married a woman with 20K in debt, I paid it off over 3 years, but fuck, imagine what would have happened if I invested it back into my biz!

Also, for the young bucks, you're not your fucking khakis. Image is irrelevant. Live as though your business is your cancer-stricken child and only you can pay for the procedure it needs to survive. Build your business dude, cube farms are impossible to get out of once you have a wife/kid/mortgage/debt. Pay your dues now, there'll still be plenty of 20 year old pussy out there when you're 30, a few hundred grand in the bank, and have time to do things right.
 
well I am able to do it now (and am), but this is something I really wish I had started earlier in life: network marketing. If I had started my networking matketing biz in my early 20's instead of wasting my time with bs pursuits I might be a millionair today in my 30's. Instead I started it at 31.
 
Another thing.

Don't fuck up your credit.



Also as many have said.

TRAVEL.

You gotta get outside of your normal day to day living and see how things are in other places.

When ever I need clarity or if I need to work through something, I get the hell out of dodge
 
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