Diary of a Real Estate Entrepreneur – My Journey towards Financial Freedom – Episode 17

Would You Be Able To Survive On A Ramen Noodle Diet In Order To Be Rich Like I Did?

 

Financial freedom, in the sense of being independent of a day job, requires focus on making passive or business income exceeds a paycheck. Oftentimes, as business people, we tend to focus more so on asset acquisition to increase our income. However, the way to financial freedom is a two-pronged approach: Increasing our business and passive income while decreasing our personal living expenses.

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Diary of a Real Estate Entrepreneur – My Journey towards Financial Freedom – Episode 16

A Good Name

 

Your name is one of the most valuable things you own, other than your time.

 

A biblical proverb says, “A good name is more desirable than silver and gold.” Your name represents your reputation, your credibility, as well as your credit.

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Diary of a Real Estate Entrepreneur – My Journey towards Financial Freedom – Episode 15

Be your own boss

 

As an employee, you have someone else as your boss. A superior may control as well as discipline you to perform certain duties. A supervisor may keep track of your time and compare it to your performance. This boss may also dictate other things in your work life to make sure you produce the right results for the company.

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Diary of a Real Estate Entrepreneur – My Journey towards Financial Freedom – Episode 14

Calm in the midst of the storm

 

As an entrepreneur, you take sole responsibility for whatever happens to your company.  Ignorance is no excuse. If you or one of your team members happen to make a mistake, you may end up paying the price. Moreover, the entire responsibility may fall on your shoulders.

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Diary of a Real Estate Entrepreneur – My Journey towards Financial Freedom – Episode 13

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Decisiveness

 

I was on Facebook one day and came across an article about successful CEOs and what their staff appreciated most about them. The majority of the staff mentioned that there were two qualities they valued most in a CEO: honesty and decisiveness.

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Diary of a Real Estate Entrepreneur – My Journey towards Financial Freedom – Episode 12

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Attending Conferences

 

When I was an employee, I had a love/hate relationship with conferences. I enjoyed the opportunity to leave the workplace to see some colleagues from other regions who I hadn’t seen in awhile. Plus, I enjoyed getting out of the office in general; attending work-related conferences almost felt like a vacation.  

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Diary of a Real Estate Entrepreneur – My Journey towards Financial Freedom – Episode 10

Shooting YouTube videos

 

After I quit my job, I soon realized that my friends wanted to hang out with me so they can pick my brain, and not just enjoy my company. They asked me several questions over drinks: “How did you finance that multifamily property?” “How did you improve your credit score?” And the list went on. At that moment, I discovered a new market and a new business.

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Diary of a Real Estate Entrepreneur – My Journey towards Financial Freedom – Episode 9

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Build Your Money Team For Three Reasons

 

I have 23 credit cards. Yes, you read that correctly – 23! Why do I have so many? Well, business credit, as well as any form of debt for that matter, serves three purposes:

  1. Asset acquisition
  2. Growth
  3. Reserves

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Diary of a Real Estate Entrepreneur – My Journey towards Financial Freedom – Episode 8

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Real Estate Entrepreneur

 

Normally, if you want to buy a house, you could consider obtaining a mortgage, using your savings for the down payment. Many people take this approach even for real estate investing.

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Diary of a Real Estate Entrepreneur – My Journey towards Financial Freedom – Episode 7

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Don’t be a broke, frustrated chump

 

Oftentimes, my coworkers wanted to go out after work and have a drink at the local watering hole. After a few drinks were in our systems, they began to complain about several things: the economy, their income, their boss, the staff, and other things related to the job.

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