Diving Into the World of Real Estate
North Peak Contributor
Let’s start at the beginning…
A few years ago, I made the best and worst decision of my life. I bought a ‘live-in fixer’ that ended up needing fifty thousand dollars in rehab that I didn’t anticipate. I went from an equity position to a debt position very quickly.
A year later I was working twenty hours of overtime a week to pay for this ongoing project. I was missing time with my family and friends and I was exhausted. I was working to be rewarded with more work. I was in the ultimate, self-inflicted rat race.
I had to find a way out. I needed to see my kids and my wife. I needed to get some sleep. I needed to stop ‘working to work’ and start making my money work for me.
Jon Hull, real estate investor and firefighter, with his wife and kids
How do you do this with no money, no experience and no time?
Does this sound familiar to anyone?
So, what’s the solution? For me it was time to start learning. Education was going to be my exit strategy. I was determined to break out of this terrible “work cycle” and education was my plan. Honestly, it still is. The more you know, the more capable you are. Knowledge is power, right?
I started to read…. a lot. I started replacing those OT hours with some personal R & D. I found books, blogs, podcasts, and webinars all about finance and personal development. This self education was my first true investment and it has been the most profitable investment to date.
All this talk of ‘passive income’ was sounding pretty good so I started putting some money into the game. I’ve bought and sold cars, day traded, played with cryptos, and invested in mutual funds. I’ve attempted to start numerous other businesses as well including an amazon company, a tool rental business and a pressure washing business. You name it, I have at least considered it, if not actually tried it.
“My goal is to share the lessons I learn in hopes that your road is a little less bumpy than mine.” -Jon Hull
Real Estate is Always Winning
What I learned is that Real Estate is always winning. There is no passive income source that can compete with Rentals, Flips, Notes, Syndications, etc. Generally speaking, there are four ways to make money in real estate; appriciation (passive or forced), debt pay-off, cash flow, and tax savings. So, even in a bear market, you are still making money and adding net worth! Real estate done right is more passive, more consistent, and more rewarding.
I am not only a contributor to North Peak, I am also an Investor. I write so you can see what it’s like to be a part of this industry. I am going to start at the beginning and do my best to give you a fully transparent look at the world of real estate investment.
My goal is to share the lessons I learn in hopes that your road is a little less bumpy than mine.
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