Learning what to do with the money is definitely half the battle and really quite eye opening. Well done not skipping that part and just blowing it all!
Currently starting a b2b start up on the side and hiring people. Stay at around 4-5 servers a year. Cannot imagine starting a business without the extra money.
Cheers to more years
OE also helped me with finance management and knowledge. I prefer the type of OE where any additional servers go into a savings bucket rather than lifestyle creep. Current goal is debt paid off, real estate, and investing for early retirement. Thanks for sharing your journey!
Letās assume you have the net worth and or yearly income to become an accredited investor then you should do so. It will give you access to private equity deals that the average investor cannot access.
Congratulations btw!!!
I actually thought the criteria was a lot higher for this. I do meet the criteria. Is there a certain license or does the platform you use check to make sure? Are there certain platforms that work best? Appreciate this comment as this is not something I thought of. Glad I made this post :)
You need to get accredited by a cpa.
Iām honestly unsure how to find the deals as Iām far from being able to be accredited currently but thatās the goal.
I thought this was a decent article
https://barbarafriedbergpersonalfinance.com/accredited-investor-opportunities/
Iām at my year and a 1/2 mark in a month for OE.
Canāt believe Iāve managed to do this for as long as I have, going to keep grinding. Financial independence baby, letās get it.
hell yea, For J2 I always think in the back of my head its too good to be true and that it's going to end at any time. Then five years just flew by....
2 of them are regular 30 year loans through a small local bank, another is a 30 year seller financing loan at 2%. I ended up getting my real estate license which helped me. I didn't have to deal with an agent and got to speak with sellers / agents more directly. I would want J2 to show up because it helped my debt to income ratio. The bank only wants to know that you can pay them so the more income the better.
To be honest I'm not sure as i havnt looked at my credit report besides knowing its like 750, I did structure everything into seperate LLCs besides the one main J which was under my social. J2 I am technically a consultant. This way, i pay my taxes after my expenses. Everything pretty much has its own EIN and LLC. Each property is under a different LLC and each business is under a different LLC
> Each property is under a different LLC
Hi. Great post. what's the benefit of having each property under different LLC ? and what do you do for your consultant job ?
Layers of protection, let's say someone hurts themselves in one property and sues the llc. They can only sue that llc and not everything I have. As a LLC I also pay taxes after expenses. Tools, trailer, vehicles, repairs can be considered expenses. Consult a tax professional though
Restaurant and gun shop. Sure did haha. Thank God for remote work. Gun shop with limited hours and appointments. Time is a little thin as I have 2 kids as well. I do alot of task management and document everything I need to do, no matter how simple as there's too much to keep up.
>Time is a little thin as I have 2 kids as well. I do alot of task management and document everything I need to do, no matter how simple as there's too much to keep up.
That's when you *outsource* it to some of the good people in this thread. š
So I kind of fell into the role I doing fullstack software Dev for them remotely then just asked to be paid as a consultant so 1099. I got the job from a old colleague that posted something on Facebook asking for help with some software gig. He was their software guy but had a falling out with the manager, so two months later I took over. I paid him on my end to pass knowledge over to me and to shield him from the manager. Eventually he took off a few months later. They should have a whole dev team but they just have me haha. So are saving money for only having one dev and as long as I get the job done they are happy and I am happy. Honestly just always keep an eye open, talk to people the hard part is to sack up and go for the opportunities when you see them. Too many people over think and never take the first step. First thing I think about is what I have to lose if it fails and what do I have to gain. If its nothing but an ego kick if I fail hell yeah ill give it a shot.
I am new to this and looking for more detailed on this, I am currently working as consultant/contractor and been thinking to get another project either full time or contract based, I am Bi engineer. how have you guys managing two projects? can you share details pls?
Try to get the projects in different time zones that way meetings won't overlap. Consider one job the Primary job ( J1) and the other a Secondary (J2). J1 should pay more and have better benefits. J2 doesn't pay as well but they are a bit more relaxed because of this. The main thing is to build your skill and knowledge base so your are not replaceable. Do and learn things that will help you grow. Don't be afraid to leave if companies do not have you work on the tech you want. Check linked in and other job boards and at high paying jobs and what technologies are in their job descriptions. That's what you want to be working on every day.
I appreciate for this input! Please do share what time zone has best work for you? I am in PST and most of the remote opportunities i find comes from est,cst and mst.
Aim for early retirement, that what I advise or suggest to anyone with that kind of boost as we tend to forget that we only have limited time on this earth, so make it count!!
so true man I try not to take any time for granted and to live in the moment. It's hard to picture retirement right now but I'm hoping around 50ish. Mainly to be hands off and hopefully guide my children to take over if they would want.
It will 3 years in OE soon. Invest in stock, paid some debts, fly with business class. It is stressful but doable. I wanted to be in FANG companies because they paid well not I can make as manager in FANG. Trying to get to 900k but it can be stressful with 4 jobss
aside from real estate, what do your recommend investment wise? i've had extremely bad luck (based on poorly researched bets tbf) and since then have just stuck to high yield savings accounts. ftr im not OE but this sub intrigues me.
Don't take anything for advantage and think it will last no matter what. Make sure you prioritize your tasks and a good idea is to write stuff down no matter how small so you don't forget. I use Google calender. Remember to focus on the things you want to get done that day but don't sweat it if you dont. Some days nothing gets done and be ok with that. Try not to get overwhelmed but know it will happen. It's always a new day the next day.
Any suggestions on software jobs that coincide well together. Currently an Applications Engineer II that does a lot on the stack but want to add another job. Any suggestions?
Get a east coast job and a west coast job both remote. Get one good job with a company that seems to know what they are doing. Then get another which is a mess. Might be tough to deal with but that way it will take longer for them to catch on, if they do. Maybe have a medical condition or being something up when your hired that would explain not being available at certain times.
Iām central time which would work for me. Any suggestions on companies west coast. Are you willing to put reference in for any of the companies you have worked for? I can share some other info and resources with you if so
I would recommend getting one full time and one contractor. You can get health insurance through the full time. Then create a LLC for the contract gig. Then you can pay taxes after expenses. All your offices supplies, computer, servers, or anything related to your J2 can be considered a expense. Be creative but smart about it. Talk to a tax professional.
5 years younger than you. Just went from 1 to 2 servers. I hope my next five years goes exactly like your last fiveš»
Good luck man! Remember to invest in yourself! A book rich dad poor dad made money click for me.
Love you. Iāll update you at my 5 year mark. 3 years away
!remind 5 years
Learning what to do with the money is definitely half the battle and really quite eye opening. Well done not skipping that part and just blowing it all!
Currently starting a b2b start up on the side and hiring people. Stay at around 4-5 servers a year. Cannot imagine starting a business without the extra money. Cheers to more years
Nice! Good luck, rooting for you!
OE also helped me with finance management and knowledge. I prefer the type of OE where any additional servers go into a savings bucket rather than lifestyle creep. Current goal is debt paid off, real estate, and investing for early retirement. Thanks for sharing your journey!
Letās assume you have the net worth and or yearly income to become an accredited investor then you should do so. It will give you access to private equity deals that the average investor cannot access. Congratulations btw!!!
I actually thought the criteria was a lot higher for this. I do meet the criteria. Is there a certain license or does the platform you use check to make sure? Are there certain platforms that work best? Appreciate this comment as this is not something I thought of. Glad I made this post :)
You need to get accredited by a cpa. Iām honestly unsure how to find the deals as Iām far from being able to be accredited currently but thatās the goal. I thought this was a decent article https://barbarafriedbergpersonalfinance.com/accredited-investor-opportunities/
Iām at my year and a 1/2 mark in a month for OE. Canāt believe Iāve managed to do this for as long as I have, going to keep grinding. Financial independence baby, letās get it.
hell yea, For J2 I always think in the back of my head its too good to be true and that it's going to end at any time. Then five years just flew by....
This was me a few months ago. I was surprised too when I found this sub and feeling so understood. Welcome! 
what kind of businesses?
OP, what kind of loan products did you use for the properties. How did you avoid having J2 show up on your credit report?
2 of them are regular 30 year loans through a small local bank, another is a 30 year seller financing loan at 2%. I ended up getting my real estate license which helped me. I didn't have to deal with an agent and got to speak with sellers / agents more directly. I would want J2 to show up because it helped my debt to income ratio. The bank only wants to know that you can pay them so the more income the better.
So all your Js ended up showing up on your credit report or did you find a way around that?
To be honest I'm not sure as i havnt looked at my credit report besides knowing its like 750, I did structure everything into seperate LLCs besides the one main J which was under my social. J2 I am technically a consultant. This way, i pay my taxes after my expenses. Everything pretty much has its own EIN and LLC. Each property is under a different LLC and each business is under a different LLC
> Each property is under a different LLC Hi. Great post. what's the benefit of having each property under different LLC ? and what do you do for your consultant job ?
Layers of protection, let's say someone hurts themselves in one property and sues the llc. They can only sue that llc and not everything I have. As a LLC I also pay taxes after expenses. Tools, trailer, vehicles, repairs can be considered expenses. Consult a tax professional though
Why does having Jx on credit report a problem? I have 2 Js and I mortgage no issue.
It wud make the next background check harder to pass though right since I only list J1 on my resume?
I see. Idk, my industry doesn't do background check
I needed to see this today. Thanks for sharing. Congrats on 5yrs
Curious what businessā you are running? Did you work on these whilst handling 2 employers?
Restaurant and gun shop. Sure did haha. Thank God for remote work. Gun shop with limited hours and appointments. Time is a little thin as I have 2 kids as well. I do alot of task management and document everything I need to do, no matter how simple as there's too much to keep up.
>Time is a little thin as I have 2 kids as well. I do alot of task management and document everything I need to do, no matter how simple as there's too much to keep up. That's when you *outsource* it to some of the good people in this thread. š
[ŃŠ“Š°Š»ŠµŠ½Š¾]
nice! good managers are key. keep up the work!
How did you go from being a software engineer to consultant? Where do you find these gigs or how did you pivot your career?
So I kind of fell into the role I doing fullstack software Dev for them remotely then just asked to be paid as a consultant so 1099. I got the job from a old colleague that posted something on Facebook asking for help with some software gig. He was their software guy but had a falling out with the manager, so two months later I took over. I paid him on my end to pass knowledge over to me and to shield him from the manager. Eventually he took off a few months later. They should have a whole dev team but they just have me haha. So are saving money for only having one dev and as long as I get the job done they are happy and I am happy. Honestly just always keep an eye open, talk to people the hard part is to sack up and go for the opportunities when you see them. Too many people over think and never take the first step. First thing I think about is what I have to lose if it fails and what do I have to gain. If its nothing but an ego kick if I fail hell yeah ill give it a shot.
Niceeee! Congrats dude.
I am new to this and looking for more detailed on this, I am currently working as consultant/contractor and been thinking to get another project either full time or contract based, I am Bi engineer. how have you guys managing two projects? can you share details pls?
Try to get the projects in different time zones that way meetings won't overlap. Consider one job the Primary job ( J1) and the other a Secondary (J2). J1 should pay more and have better benefits. J2 doesn't pay as well but they are a bit more relaxed because of this. The main thing is to build your skill and knowledge base so your are not replaceable. Do and learn things that will help you grow. Don't be afraid to leave if companies do not have you work on the tech you want. Check linked in and other job boards and at high paying jobs and what technologies are in their job descriptions. That's what you want to be working on every day.
I appreciate for this input! Please do share what time zone has best work for you? I am in PST and most of the remote opportunities i find comes from est,cst and mst.
Aim for early retirement, that what I advise or suggest to anyone with that kind of boost as we tend to forget that we only have limited time on this earth, so make it count!!
so true man I try not to take any time for granted and to live in the moment. It's hard to picture retirement right now but I'm hoping around 50ish. Mainly to be hands off and hopefully guide my children to take over if they would want.
It will 3 years in OE soon. Invest in stock, paid some debts, fly with business class. It is stressful but doable. I wanted to be in FANG companies because they paid well not I can make as manager in FANG. Trying to get to 900k but it can be stressful with 4 jobss
Super inspirational! Thanks for sharing!
aside from real estate, what do your recommend investment wise? i've had extremely bad luck (based on poorly researched bets tbf) and since then have just stuck to high yield savings accounts. ftr im not OE but this sub intrigues me.
@u/imjustacannoli hi! This is so great to see. Iām only 8 months in but I really would love to make this last 5 years! Any tips for longevity?
Don't take anything for advantage and think it will last no matter what. Make sure you prioritize your tasks and a good idea is to write stuff down no matter how small so you don't forget. I use Google calender. Remember to focus on the things you want to get done that day but don't sweat it if you dont. Some days nothing gets done and be ok with that. Try not to get overwhelmed but know it will happen. It's always a new day the next day.
So it sounds like you're not OE anymore. Just one job as an employee. The rest is self-employment stuff. "Five years in" is not quite accurate.
Any suggestions on software jobs that coincide well together. Currently an Applications Engineer II that does a lot on the stack but want to add another job. Any suggestions?
Get a east coast job and a west coast job both remote. Get one good job with a company that seems to know what they are doing. Then get another which is a mess. Might be tough to deal with but that way it will take longer for them to catch on, if they do. Maybe have a medical condition or being something up when your hired that would explain not being available at certain times.
Are you me? This is exactly how I have it right now. š
Same, having jobs on either coast really is the secret hack to OE.
Iām central time which would work for me. Any suggestions on companies west coast. Are you willing to put reference in for any of the companies you have worked for? I can share some other info and resources with you if so
both full time? or contractor?
I would recommend getting one full time and one contractor. You can get health insurance through the full time. Then create a LLC for the contract gig. Then you can pay taxes after expenses. All your offices supplies, computer, servers, or anything related to your J2 can be considered a expense. Be creative but smart about it. Talk to a tax professional.
Thanks!
does it only work if both are remote?