How I became a multimillionaire as an enlisted soldier with a base pay of $2801/month
AND then walked away from my government pension so I could be a better dad
Age 25: Used my enlistment bonus as a down payment on a $175K fixer-upper.
I spent every weekend and all my leave fixing it up. What little extra income we had went toward buying materials.
Age 28: Sold that house (by owner) for $277,500.
Age 28: Bought a broke down duplex for $165k. We lived in a friend's house while he was deployed and fixed up the back unit in four months.
Age 29: Renovated the duplex’s front unit and moved into it. Rented back for $2000/month (my mortgage was $900/month)
Age 33: Duplex valued at $423k and I "cash out" re-financed it. $243k was deposited into my account.
3 months later, I bought an 8300 sq ft historic mansion, with 7 bedrooms and 11 bathrooms for $434k ($108.5k down payment).
Two days later: Paid back my enlistment bonus of $39k so I could get out of the army early, bought a truck, and started a construction business.
Four months later: We moved into the mansion (with no heat or AC) and only one working bathroom, rented both units of the duplex for $3800/month total. I took every paying job I could get while I fixed up the mansion on the weekends.
Age 38: the mansion is worth $1.6mil and makes $100k+/year as a short-term rental. We sold the duplex, purchased 54 acres, remodeled a bus, built a barn, and moved into the bus on the land.
Two years later: The hard life isn’t over but we’re continuing to build wealth with real skills (we learned over time) and hard work.
You can too if you start now, prioritize learning, work while others play, and don’t stop.
“Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” Proverbs 13:11
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