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Ask HN: Should I sell my house to fund my startup? Anyone with the same story?

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Re: Ask HN: Should I sell my house to fund my startup? Anyone with the same story?

#61

Post by Throwey12 »

f6v wrote: post #50
Throwey12 wrote: post #44

Earlier quoted context omitted.

I'm mostly failing to pitch investors, potential customers are excited.

There’s a huge difference between “potential customers are excited” and “customers are paying for the product“. And the other thing: it’s seems like you put part of the blame on not being born in the USA and not graduating from the Ivy League. That’s not a pre-requisite for success though. If you don’t have connections, maybe it’s you and not the place where you live or your social class.

Totally fair, that's why I want to launch asap and need devs for it. I'm well aware of this trap. I also already sold similar products to companies, and now pivoting to b2c.

Well, it helps. A lot. It's very hard to build relationships from another country, I know everyone will say it's easy because of covid, but it's not for people from third world countries without prior startup/FAANG experience. I might move tho. And yes, problem is highly in myself, but I'm always trying hard to help people and trying to be more open and communicative.

Re: Ask HN: Should I sell my house to fund my startup? Anyone with the same story?

#62

Post by entropyie »

zombieprocess wrote: post #45

You're 25 and working in this space for 8 years?

I made more money per month as a 17 yo at the end of the dotcom boom than I did the decade after...

But back to the advice: don't sell your house... Get a less demanding job, even 4 days a week, and side hustle the project.

Also considering finishing your degree as a hedge (assuming it doesn't cost too much, I guess it does in the USA).

Re: Ask HN: Should I sell my house to fund my startup? Anyone with the same story?

#63

Post by p0d »

Sounds like you may be spending someone else's money? Either that or you have managed to acquire property at a very young age?

If someone else has set you up I think it is worth consideration before you yolo. A lot of work may have gone in to get you where you are.

Re: Ask HN: Should I sell my house to fund my startup? Anyone with the same story?

#64

Post by codegeek »

eaenki wrote: post #14

No. Basically zero chances any of your ideas will work. Even with funds and employees. I did a lot of side projects, maybe 30~ and 2 turned into companies which made me a great, great living and then failed for the most unexpected sh1t. I’m sorry but you either roll the dice a ton of times with extremely small amounts and hope for a big win Which is very unlikely or you have to play with other people’s money. In case…

"then failed for the most unexpected sh1t"

I am curious. Would you be willing to tell us what happened ?

Re: Ask HN: Should I sell my house to fund my startup? Anyone with the same story?

#65

Post by f6v »

Throwey12 wrote: post #61
f6v wrote: post #50

Earlier quoted context omitted.

There’s a huge difference between “potential customers are excited” and “customers are paying for the product“. And the other thing: it’s seems like you put part of the blame on not being born in the USA and not graduating from the Ivy League. That’s not a pre-requisite for success though. If you don’t have connections, maybe it’s you and not the place where you live or your social class.

Totally fair, that's why I want to launch asap and need devs for it. I'm well aware of this trap. I also already sold similar products to companies, and now pivoting to b2c. Well, it helps. A lot. It's very hard to build relationships from another country, I know everyone will say it's easy because of covid, but it's not for people from third world countries without prior startup/FAANG experience. I might move tho. A…

> Totally fair, that's why I want to launch asap and need devs for it.

Maybe you’re right, and maybe you have to learn this in your own way. But it’s often possible to figure out if they’re going to pay for the product without building a full product.

Re: Ask HN: Should I sell my house to fund my startup? Anyone with the same story?

#66

Post by giantg2 »

No!

You need a place to live, money for a potential future time when you can't work, and other basic necessities. Investing is about balancing risk tolerance with reward potential. There is a massive risk associated with investing basically everything you have in a startup when relatively very few become successful. It's extremely likely that you will lose it all.

Re: Ask HN: Should I sell my house to fund my startup? Anyone with the same story?

#67

Post by firemelt »

throwaway2a02 wrote: post #3

No, you should not. Chances of it working out are probably slim. You probably don't need funding, as many solo founders can attest. Hiring should be done once the business is already generating an income, and should be scaled based on that income. What happens is that if you do sell your house, (assuming you'll pay rent) things will get a lot more stressful for yourself financially, and this will severely hinder your…

>You probably don't need funding, as many solo founders can attest.

anyone know where I could read for stories like this? I want to motivated by the story of success solo founders

Re: Ask HN: Should I sell my house to fund my startup? Anyone with the same story?

#68

Post by bagacrap »

throwaway158497 wrote: post #28

I am from IIT, living in US, On a FAANG salary, 40+ age. And I still stuck paying mortages on my home. I will stuck for next 10 yrs. Don't fuck life by selling off your house. YOLO, happy to build and learn, don't need cars, confidence etc are because of your age/hormones. After a few years, you will want a partner (because humans are social), may be have kids, your wants/needs will explode then. Do not give up the h…

I'm convinced paying a mortgage is a good thing, it means you have less capital tied up in your home and more available to invest in areas with higher return, such as doge, er, s&p index funds.

That said, if you really hate having a mortgage, don't buy a home. Don't fall into the trap of thinking you need to own a single family dwelling if renting is more your thing.

Re: Ask HN: Should I sell my house to fund my startup? Anyone with the same story?

#69

Post by gcheong »

firemelt wrote: post #67
throwaway2a02 wrote: post #3

No, you should not. Chances of it working out are probably slim. You probably don't need funding, as many solo founders can attest. Hiring should be done once the business is already generating an income, and should be scaled based on that income. What happens is that if you do sell your house, (assuming you'll pay rent) things will get a lot more stressful for yourself financially, and this will severely hinder your…

>You probably don't need funding, as many solo founders can attest. anyone know where I could read for stories like this? I want to motivated by the story of success solo founders

try

https://www.indiehackers.com/start

and

https://www.youtube.com/microconf

Re: Ask HN: Should I sell my house to fund my startup? Anyone with the same story?

#70

Post by 71a54xd »

Risk someone else's money not your own. If you can't convince someone else to risk their money on your idea, it's probably not good enough even if you manage to execute and ship.

You have a house at 25, let that sink in for a bit. Why fuck yourself when you don't have to?

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