Rich Dad poor Dad…

I'm not sure opening a bjj school is a likely way to generate riches. Seems more like a work your passion play.


Property is good largely because of leverage and a decresing interest rate environment. Every time interest rates go down property goes up opposite is true too. I don't think this is the time to leverage yourself to the hilt.
 
Jack Handy jr said:
I was listening to this Asian billionaire yesterday and he got me thinking I’m going to start my own business teaching Bjj then start buying rental properties

I have a high paying (relatively) job but I want that generational cheese. So have any o f you started your own successful businesses? or have rental properties?

what’s your thoughts on Robert kiyosaki?
Click to expand...

One can make money in real estate for sure, but that guy in particular is a scammer.


Beware of people who are selling learning materials to "get rich quick".

The real business model that makes money for him is selling seminars and videos and shit to thirsty middle class and working class dudes.
 
Jack Handy jr said:
I was listening to this Asian billionaire yesterday and he got me thinking I’m going to start my own business teaching Bjj then start buying rental properties

I have a high paying (relatively) job but I want that generational cheese. So have any o f you started your own successful businesses? or have rental properties?

what’s your thoughts on Robert kiyosaki?
Click to expand...

I had an app/game Dev business that was mildly successful for a couple of years.
Now I have a software/engineering/outsourcing business that is doing very well.

My unsolicited advice is - try lots of things with the full understanding that most will fail, and that is the point.
 
DavidsGhost said:
Most people who start businesses or go into real estate fail. So pitching either of those as ways to become wealthy is really bad advice.


Millions of Americans fall for these types of motivational financial crazes and they go broke, fail, and wind up set back psychologically
Click to expand...

On this note I agree.

I think it was Tim Dillon that said "not everyone has a business in them", and it is spot on.
The ideas and motivators most people have about starting a business have nothing to do with what it takes to run a successful enterprise.

You want to do it for the freedom it gives, but fail to understand how much you'll have to sacrifice to even have a slim chance at getting it to a state where you have that freedom.

If you really want to do it, especially in a highly saturated and competitive area like a martial arts gym - you had better want to do it for reasons other than "being successful".

Edit**

Not wanting to sound mawkish, go for it if you really want, just be wary of diving into such a big undertaking when your primary motivator is the words of another.

I love what I do, have very specialised skills and am determined to a fault, and I still went broke twice over a span of 5 years trying to get my business off the ground.

Maybe you have an easy run, it does happen, but you'd really be in the very narrow minority.
 
Jack Handy jr said:
I think flipping houses my be better than having a bunch of rental properties

I mean renters tear shit up if you have some advanced handyman skills you could do good
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Yea my wife had renters who never once changed the AC filter in the house. For like 2 years. Either way the house is in a prime real-estate spot and it's only going to grow in value exponentially. She's already getting offers that will more than double her investment.
 
I operate my own business and rental properties. The profit margin is smaller than you think and you’ll need to save a good chunk away on the sides for repairs and upkeep but yeah, it is a good way to have profitable equity in an area that will likely never crash. Cost to buy rigut now sucks though and it’s hard to find good tenants. I rent out at a pretty good discount so I can keep good tenants.
 
ThaiSexPills said:
I operate my own business and rental properties. The profit margin is smaller than you think and you’ll need to save a good chunk away on the sides for repairs and upkeep but yeah, it is a good way to have profitable equity in an area that will likely never crash. Cost to buy rigut now sucks though and it’s hard to find good tenants. I rent out at a pretty good discount so I can keep good tenants.
Click to expand...


Yeah but you’re your own boss…I can’t tell you how priceless that is (though I’ll assume you already know)

I have had to literally bite my tongue in half over the years when dealing with supervisors and subordinates. I think that maybe dealing with shitty renters is less irritating than dealing with what I have to deal with on a daily basis.

that’s why damn near everyone I work with is trying to get a legitimate “side hustle “ going. Gun smithing, personal training, survival stuff, off duty security is big too.

I can retire in a few short years and I’m trying to get at lest two more income streams going based on something I enjoy like BJJ and maybe house rentals or property flipping
 
shunyata said:
One can make money in real estate for sure, but that guy in particular is a scammer.


Beware of people who are selling learning materials to "get rich quick".

The real business model that makes money for him is selling seminars and videos and shit to thirsty middle class and working class dudes.
Click to expand...


Hate to admit that I fit the motif of your last sentence lol…not really lol

freely admit I’m a middle class dude GL-13. Government slave but 100% T&P from the VA helps A TON.

so I technically slide into what’s considered a “high earner” …but with all the mouths I feed and support it just kinda evaporates…but I can’t complain about $194,000 a year because most would look at me like I was insane.

it’s just when you have financial outputs of

groceries (crazy feeding family of 6 with today’s inflation)

three car notes ( this one was dumb won’t do again)

mortgage. ( have to live in a safe area with accoutrements when you have a family)

BJJ ( one of only two things I do for myself)

Gun addiction (I need to stop but I can’t)

Kids in five different sports with one on one coaching

mathnasium for four kids

orthodontist for four

Taxes

entertainment

your income dies the death of a thousand paper cuts

that’s why I’m looking to get to a minimum of $250,000 Per year ideally 400K
 
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fingercuffs said:
You have 93 posts. Come back when you have the bollocks to tell me what your previous account was so I can work out our previous involvement.
Click to expand...


I live in your head cuffs tbh I don’t know why you have such a hard on or why your pussy gets so wet when it comes to me…(which one are you anyway?)

funny thing is you don’t even register as a skilled enough poster To even try to engage me in a proper multi year sherdog flame war(which gives me great entertainment during my rather mundane work day)

So I’ll let you dick tuck ….or clit tuck just acquiesce and never post in any of my threads again and I may let you continue to reside on sherdog in relative peace…..maybe


You’ve been warned fuck face …take my mercy and leave with your cyber dignity relatively intact
 
ineverpost said:
Considering many new UFC fighters who teach BJJ are broke I am going to say this is not a money maker unless your last name is Gracie. At least pull a Mackenzie Dern and start pronouncing your Rs as H
Click to expand...

This. Travis Lutter is literally the Michael Jordan of BJJ and I don’t think he’s acquired generational wealth.
 
Jack Handy jr said:
I live in your head cuffs tbh I don’t know why you have such a hard on or why your pussy gets so wet when it comes to me…(which one are you anyway?)

funny thing is you don’t even register as a skilled enough poster To even try to engage me in a proper multi year sherdog flame war(which gives me great entertainment during my rather mundane work day)

So I’ll let you dick tuck ….or clit tuck just acquiesce and never post in any of my threads again and I may let you continue to reside on sherdog in relative peace…..maybe


You’ve been warned fuck face …take my mercy and leave with your cyber dignity relatively intact
Click to expand...
Do wind your fat neck in, you batty old lady.
 
Jack Handy jr said:
Yeah but you’re your own boss…I can’t tell you how priceless that is (though I’ll assume you already know)

I have had to literally bite my tongue in half over the years when dealing with supervisors and subordinates. I think that maybe dealing with shitty renters is less irritating than dealing with what I have to deal with on a daily basis.

that’s why damn near everyone I work with is trying to get a legitimate “side hustle “ going. Gun smithing, personal training, survival stuff, off duty security is big too.

I can retire in a few short years and I’m trying to get at lest two more income streams going based on something I enjoy like BJJ and maybe house rentals or property flipping
Click to expand...
I’m not really my own boss. I answer to the guys I’m contracting to and it becomes even more important that I do a good job satisfying them. My work day also never ends.

the reason I never took over the family businesses was so I could work for the man, 9-5. Ended up starting a small contractor operation to keep myself busy when the oilfield dries up and it just keeps growing without me really trying. It’s ok, I enjoy it but it’s a lot of hard work and worry.

income properties aren’t trouble free or a get rich quick scheme but I prefer them to investments in the stock market. I rent to seniors at a good 30% below market value so the headaches are extremely limited. My father owned properties too and dealt with a lot more crap so I’m looking to avoid the headaches.

the best advice I can give you is to dip your toes in small at first and see if you can get used to the pressure and hard work before trying to get bigger. Just focus first on creating a sustainable living for yourself and go from there.
 
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