First Timers
Posted on October 29, 2007 - Filed Under Business |
Welcome to the site ChangingMyDirection.com.
My name is Clifford, the author. Here I document my adventures with investing in real estate. Also provide commentary on every day life. Sometimes I rant about anything in general or talk about food.
My journey into the financial world didn’t start off so pretty. Within two years of graduating college, I had managed to accumulate nearly $40,000 in debt. Between all of my credit cards, my car, and my student loans a mountain of debt was slowly crushing me.
Payments were made late. My credit score suffered. It felt hopeless. Finally I took some advice and got a consolidation loan. This helped reduce some of the load. My biggest sacrifice was getting rid of my really nice car and driving around a cheap grocery getter for almost two years.
In the end, it took nearly 3 years for my debt to disappear. Suddenly I found myself without debt and a little pile of money which was growing.
My new objective: Never again be trapped under debt. The only way I could assure myself of this was to invest my money into assets, not liabilities. Since reading the Rich Dad, Poor Dad books by Robert Kiyosaki I decided real estate was the direction I was going to head.
For my real estate, I purchase duplexes and renovate them. Afterwards I rent them out. I am practicing the theory that "Real Estate buys Real Estate". One property buys another.
A brief synopsis of my first two projects has been provided: Project #1 and Project #2. Of course if you are searching for more details then you are welcome to check out the archives and read from the beginning.
Along the journey you may notice some blog entries have absolutely nothing to do with real estate. And that’s alright. I never set out to create a dry, dull, or boring site dedicated solely to real estate. This is about my journey, my path. Along the way I decided this needs to be fun.
Why do anything if you can’t enjoy yourself?
If you liked that post, then try these...
Bank Repo on March 7th, 2007
The description for the four-plex said "Bank Repo".
Brain Mud on May 13th, 2008
Taking the day off.
