As an entrepreneur, I’ve ended up better off (so far) by not doing these things than I would have had I done them. If I had bought a property when I was able to afford one I would have not had the working capital to start Lind Golf. Had I bought a property after I sold Lind Golf, I would not have had the working capital to start BuyReply.
I’ve always tried to keep costs low and financial obligations at a minimum. While popular belief is that buying a property is the right thing to do with your money, if you have a vision and the confidence to back yourself into a venture, you are more likely to create incremental value that way than you would by purchasing a property. If you can afford to do both, then you are lucky.
I never had to do this when I started Lind Golf and never had to do this when I started BuyReply. I made a conscious decision to remain debt free so that I could take chances.
Most people can’t take chances. They’re already on the cashflow treadmill. They have commitments. If you can take chances and have the confidence to back yourself, go for it because you’re already in a privileged position.