It would be good to add a bonus video of you reflecting back on your journey (could include previous clips)... December 1st would be Ep. 47 and so a pre-holiday release would work out just before you hit the 4 year mark! #DuffleyNation
I really enjoy the content! I found your channel in my search of law as a career. I have two rental properties before I’m 30 like you. I agree with your assessment at the end- I’d say either hire a general partner/manager or get rid of it. Riches are in the niches- yours is law, so run with it!
Business on hard mode is an interesting thought. I didn't understand why it was ever expected to be easy, especially given the fact that you were working pretty intense hours as an attorney, plus owning some rentals and running a youtube channel. I give you props for taking on all that stuff, and I think in the long run you'll be really well off for taking on the challenges, but the thought of "Just hire an operator and it will be passive" sounds like a cliche of someone who doesn't understand how business works. But that's coming from someone who works a W2 and owns rentals, so I also don't know how business works. Also just curious, when you initially bought the business was the free annual cash flow from the business enough to cover that's position's cost and the benefits associated? Or was it assumed that you hire them, then balance out the added payroll expense by being able to generate more sales, in excess of that person's salary? With all that said, I really appreciate you documenting this series because it can show how much of a slow grind building wealth is. Also I feel like with most things, they kind of start slow and things start to happen fast, and I hope that happens for you too Jack. Good luck on the sale and hopefully getting that business loan back soon too. I want to see you hit that 200k debt paydown! And also I get anxiety seeing the cash # on your assets sheet lol
Have you ever considered selling off all the rentals and just buying REITs? They typically offer better returns than managing your own properties once you factor in the cost of your time and the cost of depreciation. I house hack in a duplex and between my business, stocks, and my one rental unit my mental bandwidth is stretched pretty thin.
Just found this channel. Excited to follow your journey! Keep up the videos!
It would be good to add a bonus video of you reflecting back on your journey (could include previous clips)... December 1st would be Ep. 47 and so a pre-holiday release would work out just before you hit the 4 year mark! #DuffleyNation
I really enjoy the content! I found your channel in my search of law as a career. I have two rental properties before I’m 30 like you. I agree with your assessment at the end- I’d say either hire a general partner/manager or get rid of it. Riches are in the niches- yours is law, so run with it!
Business on hard mode is an interesting thought. I didn't understand why it was ever expected to be easy, especially given the fact that you were working pretty intense hours as an attorney, plus owning some rentals and running a youtube channel. I give you props for taking on all that stuff, and I think in the long run you'll be really well off for taking on the challenges, but the thought of "Just hire an operator and it will be passive" sounds like a cliche of someone who doesn't understand how business works. But that's coming from someone who works a W2 and owns rentals, so I also don't know how business works.
Also just curious, when you initially bought the business was the free annual cash flow from the business enough to cover that's position's cost and the benefits associated? Or was it assumed that you hire them, then balance out the added payroll expense by being able to generate more sales, in excess of that person's salary?
With all that said, I really appreciate you documenting this series because it can show how much of a slow grind building wealth is. Also I feel like with most things, they kind of start slow and things start to happen fast, and I hope that happens for you too Jack. Good luck on the sale and hopefully getting that business loan back soon too. I want to see you hit that 200k debt paydown! And also I get anxiety seeing the cash # on your assets sheet lol
Have you ever considered selling off all the rentals and just buying REITs? They typically offer better returns than managing your own properties once you factor in the cost of your time and the cost of depreciation. I house hack in a duplex and between my business, stocks, and my one rental unit my mental bandwidth is stretched pretty thin.