5 years ago i found myself making 100k in one lump. I never had much more than 5-20k in my bank. I had no salary i was working for myself and hustling for whatever i could.
I seen some off plan houses for sale for 850k each. Deposit was 10k per house and 5k per month for 25 years. I walked away with 7 in total (70k) Everyone thought i was mad… i had little money coming in, nothing was certain.
When we got outside my wife said “how are we going to afford 35k a month in repayments”. I said “no idea i but now i have to. The other problem is we had no business, she had no salary. And i only had 2 years to approve a mortgage or lose it all!
We kept this very quiet and it was a real struggle. Often borrowing against the little gold she had. I went through hell being under that pressure.
2 years later we were asked to come up with a mortgage. (3 years ago) We secured a mortgage for 3 houses but not the last 4. So we were set to lose 400k. I was dying of heart failure and was dealing with that bad health news, then the developers said they will not pay us back 400k. I was in hospital gutted.
We got advice and found out because there completion date was late, they broke the contact. They agreed to pay me the 400k back as and when the houses are sold. I have finally got it all back and the 3 remaining houses are now worth 1.5 m each. So i made 1.8 m from that struggle.
I often put pressure on myself in this manner. Its nice to share the story after 5 years of keeping it secret. The houses are rented for 5k a month each which covers mortgage.
Just trying to say push the boundaries and lay commitments down. Druggies can find money, so can anyone.
Currently 40% of my income goes into mortgages, so i dont have much left. Feels great.