I decided to buy a rental property of my own in December 2012. Since I was debt free and have money saved up, I thought this would be the perfect opportunity to find a house to buy since the housing market was just starting to pick up.
However, I was not able to close a deal to achieve my first property. I put about 15 different offers to different house, but I was always getting out bid. I was just writing out offers for asking price, but I was getting out bid by $5k-$10k. This would always be outside of my budget.
As a few months passed, I saw less and less houses that I can afford. and less houses that I saw had great potential. All that was left for me to buy were really beat up houses that needed a lot of work and money that I did not have the time or capital.
I still wanted to some how make passive income. I did what I always do when I have questions or a thought that I need to figure out. I "Google It".
I found this video that showed the power of dividend investing and compounding. When I saw this video, I knew this was the way for me to build passive income.
Once I saw the video, I started to learn about dividend investing though other bloggers like:
http://www.dividendmantra.com/
http://www.passive-income-pursuit.com/
http://dgmachine.blogspot.com/
http://www.dividendgrowthinvestor.com/
and other bloggers that can be found here.
I started reading there site like a mad man on a mission. Reading all there old posts and learning what and how to invest in dividend paying stocks.
Therefore, the video above really started my new found journey of dividend growth investing. I am very grateful to have found that video and to have found other bloggers sharing the same dream.
How did you get started with dividend growth investing? What gave you the motivation to start?
The idea of building an annuity for life without having to give the insurance salesman a yearly cut of my profits appealed to me, along with the ability to pass along the positions to my heirs instead of the insurance company.
ReplyDeleteThe Biz of Life,
DeleteThose are very good reasons. Best of luck to you.
Hey FFD,
ReplyDeleteIsn't it funny where we all got our passion for investing. What ever it took to start that fire, however poorly written the book. We are better off for having heard/seen/read.
-Bryan
The Fast Letter,
DeleteYes, whatever starts the fire. This video was the light for my fire. thanks for reading.
I got started at the age of 20. Saw lots of potential with investing. I went to a professional firm and they asked if I wanted to do automatic deposit. I said no and by late 20s I realized what that cost me.
ReplyDelete2008 happened and I lost half of my money. I looked at the holdings and saw dividend companies: KO, JNJ, PG but never received a dividend. I compared share prices with SPY and realized the dividend essentially went to pay the management fees.
Realizing I can lose half my money without charging myself a fee I set out to learn more about dividends....
The great lessons of life. Learning from ones mistake. Thanks for commenting and reading.
DeleteI started investing for capital gains around 16-17 yrs old. My dad helped start me and I would buy cheaper more risky stocks that didn't work out so well as often. Then I found dividends and stumbled across DRIP plans in my online brokerage account a few years ago. I don't plan on looking back.
ReplyDeleteAlthough every once in awhile can't say I won't try a risk/reward play with trying to make gains by using an option or a high momentum growth play to boost availability of capital to buy more shares of a business.
Imagining how much you would have if you started investing in dividend paying stocks at 16-17. :)
Deletethanks for reading and commenting.
Nice question how did I start. I always wanted income from my investments. That was my question #1: What you want from your investments? It only took me some time that day trading, swing trading won't get me there. It was because I horribly misunderstood dividends and their power and power of compounding those dividends. Fortunately I woke up early.
ReplyDeleteI want the same thing as you.I want my investments to give me income. I took woke up once I saw that video. I was like "OMG this is what i need to learn"
DeleteThanks for reading and commenting.
Thanks so much for the mention!
ReplyDeleteI was never really a fan of the standard 4% withdrawal rule and was trying to find a better way. Then I found Dividend Mantra's site and the light kind of clicked that this is how to get around the 4% rule and still keep your principle in tact. I'm so glad that I've helped pave the way with others taking control of their future as well.
No, Thank You for blogging and the great work you do.
DeleteDM's site was as well a starting point for me. Very thankful to have found his and your site.
Thanks for stopping by.
Those are some great resources you found... probably among the best available on the web. Dividend investing is a great way to go, and the same method I used to get the passive income stream rolling.
ReplyDeleteAll the best on your journey to freedom!
Yes, there one of the best. Thanks Fl Fighter for commenting!
Delete