Eric Medemar specializes in Grand Rapids Foreclosures, Grand Rapids HUD homes, and Grand Rapids Rental Property.
Looking back at the high school and college summer jobs that I worked, I am amazed at the amount of time and energy that it took me to make $4,000-$5,000 in a summer. I would slave away at the construction site the entire summer for $6-$10/hr.
I was working so hard, and so long, that often times even in my free moments I would fall asleep instead of being out enjoying my youth. I guess at the time it was all that I knew, therefore it was all that I did. “I wish I had met me”, I now think to myself looking back at the 5 summers of intense labor.
I would have told me:
1. You do not necessarily have to work hard, but instead learn to work smart.
2. In order to make more money, learn what the people with more money do.
3. Become knowledgeable about making money, instead of becoming knowledgeable about framing homes.
These 3 rules of wealth would have bought me at least 3500 hours of freedom over the 5 summers of manual labor. If I had it too do over again I would have learned about real estate investing, first by becoming a real estate bird dog, then a real estate wholesaler, then a landlord.
As a real estate bird dog I would have spent my mornings, placing signs around my area to seek out potential sellers. Then I would have spent 1 or 2 hours a day locating potential buyers for the properties that people called in for sale. Once my signs were in place and my buyers list was developed, I would have taken my phone to the beach. From the beach, I would have become a real estate matchmaker. Taking calls from sellers, and connecting them with my buyers for profit. $1,000-$5,000 a deal would have made me $10,000-$20,000 over the course of the summer.
At the end of the summer instead of being tired and worn, I would be tan and happy. Instead of knowing a little bit more about framing a home, I would know a little bit more about how to make money through being a real estate bird dog, or real estate wholesaling
Today 10 years later and much more knowledgeable, I have learned to make money, and that is what I do. The builder who I slaved away my summers too, is now working for me. Yesterday he was trimming my ceiling on my summer house, today he is buildling cabinets for my current home which he built 3 summers ago. He enjoys building, I enjoy making money. He learned how to build, I learned how to make money and have him build.
I agree, amazing how time makes us wiser, I would have been much smarter in high school my self had I thought about the place to rent finder kids that I have read about this last year.
Just be lucky that it’s only been ten years for you.
I’ve been thinking about this a lot recently and been discussing it with a lot of the kids I coach. Like you, I can no longer imagine doing that kind of work day in and day out without the hope I have now for some real cash…Good thoughts!