#GRGcommunity | Introducing A Blog By Tim Lynch
I know what you‚Äôre thinking; why does this world need another blog?? With all the information on the internet, why should you read my blog? Good question! I don‚Äôt have any blogging experience, nor do I really know what a blog is supposed to be like. However, with that ringing endorsement, I do hope you read my blog and can learn a bit about me and travel with me on my journey to my goal of financial independence. By no means am I financially independent, but someday I hope to be and I wanted to write this blog to document my journey. I hope you can find this helpful, even if it‚Äôs learning from my mistakes.
There are a multitude of ways to earn money, this blog will concentrate on how, and why, I invest in real estate. I view real estate as the greatest investment; it is a tangible asset in which you can earn passive income and improve to make it more valuable. Additionally, unlike traditional forms of retirement, you do not have to wait until a certain age to start pulling earnings from real estate.
My real estate experience first started in 2005 as a fresh 21 year old thinking I was going to make millions in real estate as an agent and investor. I moved in with my brother and slept on his couch. Like all the realtors on tv, I thought my phone was just going to ring and I would be out selling houses immediately. Plus, when I wasn‚Äôt selling homes as a traditional realtor I planned to work alongside my brother on his flips and learn the remodel process. When the properties were done I would be the listing agent and make additional money that way. It was a slam dunk business venture that couldn‚Äôt fail! Boy was I wrong!!
After a few short months I had racked up thousands of dollars in credit card debt (nobody told me how expensive it is to be a realtor) and sold only one condo, which was my sister‚Äôs. This was a major blow to the ego; I was 21 and knew everything... Ha! Wrong! With no college education (school just wasn‚Äôt my ‚Äúthing‚Äù) and no potential jobs lined up I took whatever work I could find to pay off my credit cards and figure out what my career was going to be.
Fast forward to 2014, after working jobs such as produce clerk at a local grocery store, serving in the US Navy Reserves, deploying for a year to Guantanamo Bay, working security, and various positions at the state of Washington, it was time for a change! Thanks to my military service I was able to complete my Master‚Äôs Degree in Business Administration while working through this time of discovery.
At this point I was 30 years old and I knew there was only one career that's right for me; I was going to own my own business! I had tried a couple small businesses before without success, but learned a lot along the way. One of the many things I learned was that I couldn‚Äôt just own any business, it needed to be one that I was passionate about. Although I had failed miserably in 2005 I was still very passionate about real estate, so I decided to give it one more shot!
One thing I had come to learn in my life is that although I had ultimately failed at many things (real estate, small businesses, multiple attempts at college before finally graduating, etc.) there was always something I learned. By learning from your mistakes, you really don‚Äôt fail! You gain very valuable experience and knowledge that can be applied in the future to better yourself and, in my case, business.
In future posts I draw from my life experiences and how I have used them to enhance my financial intelligence and get one step closer to the ultimate goal of financial independence! I want to leave you with a quote I saw today. It really resonated with me and inspired me to finally start this blog I have been wanting to do for some time...
‚ÄúIf you don‚Äôt have good money habits, it doesn‚Äôt matter what your income is. Being intentional with your money and choosing to use it towards meeting your goals is the best thing you can do for yourself and family.‚Äù
I‚Äôm glad this is not a formal paper because I don‚Äôt recall the correct source to site :)