Dropping Out Of High School Turned Out To Be Positive

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Get Real
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Dropping Out Of High School Turned Out To Be Positive

Postby Get Real » Tue Dec 09, 2008 5:27 am

I wouldn't advise anyone to do it and I stress the importance of a good education,but In my case I really believe it helped me get ahead financially.

I've always been an independent person,maybe it comes from being an only child,I don't know.I've always hated to be told what to do and how to do it.In my teens (I'm 40 now) I really didn't have a care in the world and didn't think much about the future,I just knew that somehow I would make it.I packed my bags and moved to the beach,where I truly wanted to be and still reside today.The jobs were seasonal and paid just enough to get by.I really didn't have my priorities in place at the time,living for today and never thought about tomorrow.One day I found myself in a dire situation,unemployed and flat broke.It was a terrible feeling,fearing that I would have to move away from a place that I love.I swore that if I ever got out of that situation,that I would never let it happen again.Fortunately I found another job and started to get my feet back on the ground.

At the age of 22,I realized that if I really wanted to get ahead in this world and live on this beach with my educational background,I was going to have to think outside the box.I started working harder and living below my means.I started a saving money and by 1999 I had enough for a down payment on a home that I purchased for $55,000.My goal was to pay this home off as quickly as possible,which I did.We all know what happened to RE prices during the upcoming years.In 2003,I took out a HELOC on my primary residence to pay off a small balance on my first mortgage and fund the 10% down payment to purchased another house and vacant lot.When I closed the deal,I had roughly $80,000 instant equity in the house and lot combined.Today the equity is roughly $175,000!Over the next couple years,I worked hard and focused on paying off the HELOC on my primary,which I did in 2006.I purchased another home and vacant lot in 2005 at a steep discount and plan to have it paid off in a couple of years.To make a long story short,I have 2 rentals that cash flow,and a primary residence and two vacant lots that are paid for.My net worth has grown from $18000 in 1999 to over $430,000 today.I work for myself at my leisure and continue to live below my means.I continue to save and look for investment opportunities.

No matter what you situation may be,don't ever let the naysayers get you down.You can beat the odds with a positive attitude,determination and will power.Things happen for a reason.The bad experiences in my life,helped make me who I am today.

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Last edited by Get Real on Tue Dec 09, 2008 7:09 am, edited 2 times in total.

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Postby Cleverbeans » Tue Dec 09, 2008 6:37 am

You're in good company - Bill Gates dropped out of college to get to work too. :)

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Postby kmull » Tue Dec 09, 2008 12:29 pm

Nice. The recent real estate bubble provided a great opportunity for people to get rich -- the people in the middle of the bubble rather than the ones that jumped in right at the very end before everything popped.

Congrats on all of your hard work. Living below your means is something that all people, even those with higher education, seemed to struggle with.
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Postby Bearcat fan » Sat Jan 03, 2009 7:01 pm

Hang tight with the real estate, the market will come roaring back sooner or later,people have to have a place to live ,rentals if you are suited to them will make you rich in most cases over time. And housing is like the stock market,if you believe in America both will come back ,just hunker down and if you see something that you know you can handle this is a time of opportunity ! And there will be bargains out there in housing !

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Postby AngelaE8654 » Sat Jan 03, 2009 11:57 pm

Good for you. Although you didn't finish school, you appear to have a good head on your shoulders. Thank you for sharing your story. :)

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Postby Ruggy » Sat Feb 14, 2009 10:50 pm

Good job, but you should pay off the other mortgages as soon as you can. Mortgages are the devil. Don't feel bad. I dropped out of college, but I did go back a few years later. I promised my parents I would. I always keep my word. Paid for it myself too. What a waste of money.

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Postby marthagfy96 » Wed Nov 11, 2009 1:06 am

You know what, when I see these "school dropout success stories" time and again (and YES many of them are true) I regret wasting so much money on my school and college education. Wish I had dropped out of school too! :(

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Postby dtr » Wed Nov 11, 2009 8:29 pm

Meh. Sure it can work out. More often it doesn't. I've been out of college for 10 years, and I've grossed $900,000 in that decade. And I'll continue to bring in over a million bucks per decade, thanks to my college degree. Now, I'll end up spending far too much of it. But that's another issue altogether. :)

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Re: Dropping Out Of High School Turned Out To Be Positive

Postby jerrystark » Thu Nov 10, 2011 12:05 pm

I know this is an old post, I just happened to stumble upon it. However, I found your post to be very inspirational and wanted to say thanks!

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