Most people think they have to be debt free with clean credit a high income career and everything going perfect before they invest. I think that is horrible advice. That is like someone telling you that you have to get your money and your credit right before you get a job. You get the job and THEN you get your money and your credit right. Investing, like a job, is an alternative source of income and you need as many sources of income as you can WHILE you are getting your finances together. Having such low income is what is keeping your finances small in the first place.
Successful people don’t believe in trade offs. You don’t have to get your stuff together and then invest and you shouldn’t be investing and not getting your stuff together. I believe you should do both. I believe you should do both because as I stated above, one fuels the other. If you wait until you life is perfect before you invest in real estate you are actually avoiding what could help you get your life perfect. That extra 100k net profit from a flip or that extra 1000 in income could actually propel you into a new bracket of living and then allow you to invest even harder.
I believe that people pass along this conventional knowledge because they want to keep you out of the market. They know that your 9-5 will never position you to have the capital and the time to make big moves int he market. They want to keep you out of the big leagues and working for them.
The longer you invest and learn the better you get. The sooner you start the sooner you can start seeing gains and understanding how things work. So I could write a post that says “pay off all your debt with the highest interest, pay off your student loans, buy a home, invest in your 401k blah blah blah” but NO. You need to get in the market now. You need to get started investing in real estate, NOW. Then as you get better at doing both you can clean up everything else along the way.
The key to success is to start now because sometimes later becomes never. If you want to join a club that is getting moving email me at firstname.lastname@example.org