What's Next?
When I wrote about earning my NC General Contractor's License last week, some folks reached out to see what I was up to.
Thanks, y'all!
Here's the deal. Last year, I laid out the components of my Ten-Ten-Ten plan, which, with a shitpile of work and a whole lot of luck, will:
--> Give me the option of retiring in Ten years
--> With a passive income of $10,000 per week
--> While I travel ten days per month between now and then.
It's a big, audacious, and [maybe] preposterous goal.
I've already used up one of the ten years and the first month of the second year.
That leaves 9.
It's exciting because I can retire in 9 years if I make it!
But it's also terrifying because Small-Me gets in my head almost every day and starts taking shit.
"What if you don't make it, there, hotrod?"
"What if you fall flat on your face?"
"Everybody's watching. You know that, right?"
"Remember when you told your kids you were gonna do this? Remember that? What are you going to tell them when you fail? What are you going to say then, hotshot?"
Small Me.
Man, I hate that guy.
Anyway, it's a big goal.
I know.
But Big-Me says I can do it, so I'm going for it.
Years ago, when Ten-Ten-Ten was a fuzzy concept with no name, I analyzed my finances and earning capacity. I've been able to earn money from a young age.
But I've also been wiped out.
Three times.
--> IT business when Dot Com crashed.
--> Real Estate business during the Great Recession.
--> Divorce.
I've hit the financial reset button thrice, so I'm getting a late start on retirement planning.
I realized I would need more than my Realtor income to get where I wanted to be. Earning just one living won't cut it; I need to earn several livings.
So I started doing other stuff.
First, renovating houses.
Then, owning rental property.
Next, owning commercial buildings.
And now - and this is the reason for getting my NC General Contractor's License - I'm buying Remington Homes, a local homebuilder and long-time client.
When the owner asked if I wanted to take it over, Small-Me said, "Hell No!" and started with his usual excuses.
"You're too damn old for another career."
"You don't have time for this!"
"WHAT IF YOU FAIL, DUDE!!!!!"
I have to battle with Small-Me every day of my life. Like I said, I hate that guy.
But I've trained myself to ignore him.
I listen to Big-Me instead.
Big-Me says, "You got this, bro!"
Big-Me says, "You already know 40% of the business, and the other 60% isn't all that different from major rehabs."
Big-Me knows this is a massive contribution to Ten-Ten-Ten.
So, as to what's next, that's the answer.
I got my NC General Contractor's license because I needed it to complete my acquisition of Remington Homes. Already, I've got two houses under construction in Lincolnton and another dozen or so lots we'll be building on soon.
So, here we go.
I expect this will be one hell of a journey.