Wealth is a Rocket Ship

December 29, 2020

When NASA launches a rocket the rocket will use 2/3 of its fuel in the first 20 minutes. The remaining 1/3 can be used for weeks afterwards including returning back to the earth.

Meaning that the strongest effort has to be applied in the beginning of the journey. You have to achieve escape velocity. Once you've done that the rest of the trip is relatively easy.

Most people want to be in the back third of the journey, but not put in the work on the front end. They never leave the atmosphere. I've had the privilege of meeting many young people looking to achieve wealth in real estate.

I haven't met any of them that don't want the wealth that comes from building a portfolio and owning properties over the long term. Who wouldn't want that? Of the people I meet I would say that less than 1% do the work required on the front end to escape the rat race and never get to the back end of wealth creation. Here are some things I did in my 20s and early 30s that got me to where I am today.

  1. Lived on peanuts and saved every dollar I could to generate an investment egg.

  2. Spent hours for every job interview I had preparing and ensuring that I would take the next step in my career.

  3. Read over 25 real estate books and took notes so I would be prepared to solve any challenge real estate provided.

  4. Listened to every real estate podcast I could on how to get started.

  5. Worked a demanding job at Google. Fully funded a real estate in business, and put in 7 days a week into both for 3 years.

  6. Didn't take a dollar out of my real estate business for 4 years.

  7. Constantly educated myself on self improvement and business.

I knew if I could sacrifice in the short term then I would succeed in the long term. As Dave Ramsey has often said, "Live like no one else now so you can live like no one else later." And another of my favorites by Seth Godin, "If the shortcuts worked it would just be the way." You have to do the work.

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