What’s one system you implemented that saved you the most time? For me, it was building a dashboard that automatically updates with my monthly numbers and cash performance by property.

I know, I know, it's an unpopular position in this community, but net worth has to be a focus as your build your portfolio. You can build a portfolio that in 10 years is worth the same as it is now, or you can build a portfolio that in ten years will be worth 10x what it is now. Even though you can't eat equity, believe me, I know this feeling all to well, that doesn't make it unimportant. I recently did a massive cash-out refinance that is going to allow me the cash to buy a portfolio worth over 1 million, because I had net worth. A large amount of assets also creates other opportunities not available to those without. For instance, if you have 1 property, you are only buying materials on repairs for 1 property. However, if you have 50 properties, you are buying materials for repairs on 50 properties. When you buy more materials, you get treated differently as a buyer. You get more and larger discounts, you can buy in volume, you get rebates, and you can hire differently. In addition, banks treat you differently; you get access to capital more easily, better terms, etc. The only way you can get these benefits is by owning a larger amount of properties. Larger amounts should ALWAYS translate to larger net worth - IF - you are doing it correctly. Don't let people tell you net worth doesn't matter.

You get $100,000 tomorrow but there’s one rule. You have to use it to improve your financial position. You cannot leave it sitting in savings. What are you doing with it? Paying off debt? Buying a rental? Putting it into an existing property? Investing in the stock market? Starting or growing a business? Something completely different? Tell us exactly what you’d do and why. And here’s the important part: Don’t answer based on what you think everyone else should do. Answer based on where you are right now.

Let's go ahead and hit all the controversial topics today. Yesterday I was having a conversation with @Marc Financial Fire Fighter on X, and due to me not being a premium member, my responses had to be very limited. So, let's dive into this topic further here. The way this conversation goes is that the goalposts never stop moving. People go from the goal of financial freedom to empire. Let's dissect that a little bit, and to do so, I will tell part of my story. When I started my second real estate life, I was making $750 a week with a family of 7, and all I wanted was financial freedom. So, by my math, $3500 per month would make me financially free. But guess what, it sucks to live off $3500 per month. So, I changed my goal (I wasn't living off the passive income yet, but I changed my goal). So, I thought, let's make it $5k per month. Then my real estate hit $5k per month passive income. But guess what, with a family of 7, $5k per month sucks as well. In 2022, I moved into a paid-off house, no debt, and a job making $1k per week, and it was tough. So, I changed my goal to $10k per month - even though my real estate was making more than my job, it still wasn't what I thought it would be - plus Covid happened and spiked the prices of everything, so we were financially free, but it still wasn't fun. In June of 2022, I was fired from my job and started living off cash flow. My real estate was pulling in $10k per month or so, and we started living off of $1500 wk (6500 per month), which is about the average income in Indiana. We still qualified for government health care, had no extra money for vacation, had no debt, but if big expenses came up, we were strapped; it wasn't fun. Now the narrative out there is we should stop moving the goalposts; I have been financially free for 4 years - but it sucked, which is why the Lumberjack talked about Fat Fire or Obese Fire. I was financially free and fired; sure, I could have gone back to work, but who wants to do that? So, I created partnerships and went full-time investor. Now I work a ton on my properties and my partnerships, and I now want to hit $50k per month NET. Why? Because I created an ideal budget, and I want to hit that number ($25k per month), and I want my BUSINESS to thrive as well, and if I am eating all the profits, I can't grow.

To answer this question for the new investors out there 🤔 Should I cash out my 401k and buy househack and fix it up with credit cards ? This question always pop up since we haven't answered or talked about is in this group yet , let roll in our answers and comment for beingnners