Unmasking FOMO Among Friends and Family in Business Success
Brian Davila Show - Real Estate Investing, Building Wealth, Faith Based
Wealthy Investor - Real Estate Investing, Real estate, Build Wealth, Faith Based
2.5 • 884 Ratings
🗓️ 12 October 2023
⏱️ 7 minutes
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| 0:00.0 | How does someone go from, you know, you know, 30 units to like 6500 and how did you get the money to like buy all these houses in the beginning? |
| 0:10.1 | So that's actually a really good question because to buy the very first house I saved I was making like less than 20 grand a year |
| 0:19.2 | Not good. I was a college kid right inflation. Yeah |
| 0:21.4 | 18,600 dollars. I'm not saying about inflation I'm saying like 18,600 |
| 0:26.4 | was what I made my first year as a college kid working a full-time job yeah on the |
| 0:30.5 | one hand more money than I've ever made. |
| 0:33.0 | On the other hand, still sliding 10 grand in debt because it's not enough. |
| 0:36.3 | Yeah. |
| 0:37.3 | So I took 14 months and I saved up five grand in the bank account because my mentor said you you can get away with a 3% down payment. |
| 0:46.8 | Okay. Right and so this is a house hack. |
| 0:49.8 | So I bought my first house with a basement apartment. |
| 0:52.2 | Yeah, I bought it $40,000 blow market. |
| 0:54.5 | $3,300 is all I brought to the table. |
| 0:57.4 | And when my wife and I moved in and ran out the basement, |
| 0:59.4 | the whole mortgage was covered. |
| 1:00.6 | So we live for free. |
| 1:01.7 | Got it. Twelve months later later I used that equity, borrowed 20 grand, use it as a down payment on my second house, |
| 1:08.0 | use the equity on the second house to buy the third. |
| 1:10.7 | And I basically through my ingenuity, I came up with the money for three houses. |
| 1:16.2 | But then everything changed. |
| 1:18.3 | You see what I bought my first house, family and friends thought I was crazy. |
| 1:21.7 | My, literally, my father a while, looked at me like, |
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