Gearing Up for Success
Starting anything new can cause uncertainty for many people. I don't know if I just have more guts than most people or if it is my experiences that have taught me not to fear trying something new. When I was 21 I worked as a secretary. My boss called me into his office and gave me my new salary and thanked me for my hard work. The salary was in the low 20's but the last three digits weren't zeroes. I thanked him for the review and asked before I left his office if he could just round up that salary to the next thousand dollar amount. I don't even remember being afraid to ask--I just did. And much to my surprise, he said ok and I got a bigger raise than what was originally planned. Even in my profession, I've been known to make bold suggestions or come up with creative ideas--and most of them are received well by my peers and superiors. I know there are different kinds of people in the world and have taken a self-assessment of what kind of person I am, but I don't fall largely into one category or the other; but rather a share a blend of each type--somewhat resembling a chamilion. . . adapting to my environment. I decided back in November of last year to get into real estate investing and have spent the time since then reading, researching, and networking. I joined a local REI club and am thrilled to think where this will take me. I'm not just going to stick my toe in the pool, I'm diving in! If there are any other Newbies out there interested in forming a sub-group to keep each other motivated, I'd be interested in setting one up. When you aren't afraid of the answer, it never hurts to ask the question. ~ Lisa
Ironic that it was Gandhi and not The Donald who first said "if you don't ask, you don't get."
Asking questions + putting the information to practical use + trial and error = learning
Good for you, Lisa.
Great reminder Nancy! I am sure someone else even before Gandhi sad the same thing ( maybe his father) but what's important is that we should do the same. Right? Keep asking the questions. Yea. Did you join the new women group Lisa is starting on... how to say.. here: http://www.thecreativeinvestor.com/modules.php?name=News&file=comments&op=Reply&pid=2261&sid=510&mode=nested&order=&thold=
Jo
"Anger and intolerance are the twin enemies of correct understanding", DealerJo.
Hi Lisa,
Like you, I am also new to REI. I have been studying this stuff for a little over 6 months now and am eager to start. I feel that I am at the point of overload with courses, books education materials and so on and so forth. This site has been a tremendous help to me in every way. But I have yet to complete deal one yet. I guess it could be nerves or still just unsure how I want to tackle REI or even where I fit in (Rehab, wholesaling, etc.). I think as a newbie that you should just look for 1 good, solid deal to boost confidence and put coin in your pocket as well. I have no fancy outline or biz plan; just find 1 motivated seller with a profitable piece of property that I can get my feet wet with along with some learning experience to go with that.
I have rambled on long enough, but I would be interested in a sub-group on here for us new people on here.
Best of luck to all and thanks for the article Lisa
Chris G
Good advice for newbies or anyone who' s alittle shy about getting in. Getting a mentor always helps but nothing takes the place of just being unfraid to take the first few hard steps. Im new to the biz but my cousin and mentor has been deep in the mix for about 5yrs now and hes makeing a killing. If you want to make a subgroup for support..lets do it.
Darrell
I am also new to the business and am currenlty researching to find out what is the best investment choice for my 1st investment (condo, townhome, single family home. etc...). I currenlty do not have a mentor but have been asking various individuals in the realestate business questions surrounding investment opportunities. Any help or commnincaiton would be great.
I came from a cushy government job where I could be secure later in my retirement making 60K a year after 20 years of work. Luckily I fell in love and had to move and quit my job. I came upon the mortgage industry and saw investors getting very large checks at settlement. Well, I have been selling loans for the last few years and finally decided to jump. I just got a contract for my first sale,and it feels good. The more I learn about it, the more I am motivated to take it full time. I am counting down the days....looks about 4 months away until I can go full time. If I didn't "look outside the box" I would have never seen how profitable it really can be to be an investor. I made more off of my first deal in a month and a half than I did for a one year's salary in the government. Go figure?
Hi Lisa,
Your situation sounds familiar. I just left a career in IT to pursue my passion in real estate development and investment-- full time! Although at times I get anxious about what the future my hold, I have no regrets. Sometimes you just know when its your time. Four weeks after leaving my old job, I was filing the Certificate of Formation for my new real estate investment firm. Now that's motivating! I would be very interested in joing your group if you get it started.
Sam
Hi,
I also am new. Can anyone help me. I'm reading a lot of the postings and I'm not sure what all of it means. Are you all talking about buying property for yourselves and becoming landlords or what type of investing are some are you doing. I'm clueless!
This is what a lot of people on this site are doing:
-Buying houses, fixing them up and
selling.
-Holding real-estate in appreciating
areas for long term growth.
Hope this helps you!
Jeff Adam
Thanks Jeff , Every little bit helps.......
Lisa,
I like your suggestion of forming a "newbie subgroup" to help motivate each other. Sometimes I feel like jumping off the diving board, sometimes I stand there looking at the pool. Having a support group is like having a friend just nudge me closer to the edge. How about we organize a group here online?
Cherie
Cherie,
How about a feminist newbie group so those non understanding boys are kept out of the winner's league? As a group manual I propose you take a MAVERICK RE INVESTING by Steve Bergsman so you quickly skip all this micro techniques that other disorganize newbie have to go true. OK, that's sound like a good plan. Where do you start?
Anticipating Alex.
I know there's a section to start groups within here (TCI), but it may be hairy with the multiple states.
I don't think the boys will want to be kept out...
Great comment...you don'y always receive what you deserve in life, but what you negotiate...valuable stuff.
Lisa,
I am a newbie also. I have been reading and researching long enough. I am available mentors at my local REI club and it IS time to dive in. Our local club is forming a Women's only group of investors that will start soon. I am always open for more support.
Monica
Lisa, I am about to throw my self down the Niagara Falls. Lets start this group.
Adrian
Lisa:
I have "dabbled" in and out of real estate, I want to make a complete transition to full "investor" status in the near future. I need the learning and consistency, and surp***** all fears. Thanks for your words, I want to be first in line with that new sub-group.
Let me know.
Thanks
Richard
Lisa,
I would be very interested in joining the newbie group. I am completly new to this whole thing. I just started looking for property and although I have done a lot of research I don't feel as if it's helping me in the field yet. So how do we get started?
My introduction to real estate came thru a most unexpected occurance. It was 1941 and I was a fighter pilot in the RAF. Yes that is what delinquent Calif Boys did in those days. Anyway I got shot down over France, ended up in a prisoner war camp and after two weeks or so I left, the food was terrible and the accomodations unspeakable. After some very interesting times I ended up in Paris. I was riding a bike looking at all the German soldiers and in the process I passed by this lovely 9 unit courtyard apartment house on the Rue Hoche
just down from the Champs. The member of the French Resistance who was biking with me started telling me that he owned it and the Boche would burn it when they got thru with it. Blaw Blaw. Anyway I bought it for $15,000 which was a lot of money in those days Gave him a check on my bank in NY. It finaly cleared and I went down and recorded the deed with my french attorney and the old owner. Right behind the recorder of deeds were two Gestapo boys in the trench coats and funny fedora hats. Never tiped that I was an escaping prisoner of war and a member of the RAF,
When Paris fell I liberated the place told the SS to get out because the Americans wanted to move in. They finaly left and I put up a big sign Off Limits all Personal by Order Etousa Headquarters.
That was my first buy in real estate. 9 units in the 5th Arond. All two and three bedrooms. I gave the place to my oldest daughter who lives in Paris. She no longer has to marry men to be supported,tried it five times not too successful, now she lives really well and just rents her paramours. I do not know if I did the right thing or not, but you should see the smile on her face. No more money worries ever.
So, one dumb 18 year old kid, buys an apartment house cause, well why not. Everybody said the Germans would stay forever and would destroy it.
Sometimes it pays just to follow your own feelings in the matter. When I got back to England everybody said I was really stupid to do a thing like that. I mean really these Americans are like children, really. I took a lot of kidding. But that was the best investment I ever made in my entire life. Ask my daughter.
Lucius
Lucius,
Did I hear you say you needed a step daughter?
Hehehehehe!
The best decision ever made are those made on gut feeling. And who care if the building got knocked down, after the war it would be rebuilt, but memory, the memory is priceless. I am happy for you Lucius.
Lucius, $15,000 in 1941? That's a lot of $$$! Were you born with a silver spoon in your mouth? (as they say) - you never earned it in the RAF!
And I'm curious, just how did you get out of that POW camp? Walked out thru the barbed wire, eh??
BTW, if you were 18 in 1941 you really are 81! You've lived a fun life so far, keep on rolling, it's wonderful to hear your stories...
My father told me early in life that he would leave me nothing but memories. But he could leave me with a skill. He taught me to play poker but what is more important he taught me how to count cards.
When I first joined the RAF they used to play poker, it was sort of a supplimentary income for the Sgts. Young recruits would play, and loose. I changed that and turned them into a source of income. I carried over this small skill wherever I went. When I left for Europe to actualy start to fly combat I had over $32,525 in my bank account in New York City. That was my fund. Yes it was a lot of money. I had all my handkerchiefs monogramed. I even had my cigarretes gold tipped (Abdullah) with my initials on them. I had a beautiful slide platinum case and a ribbed gold Dunhill Lighter. I would sit at a bar, pull out the case, tap the ciggaret, whip out the lighter and light up. At which time I would start gagging and caughing and almost woof. I could not smoke cigarettes and god I tried, I did so want to be sofisticated. But never happen.
As to my time in that delightful POW compound. When I arrived I was the only American all the rest were Brits who had been captured during Dunkirk. The Senior British Officer was very full of himself and when I asked to join the Escape Group. He declined to accept me, said I needed seasoning and I should apply in say six months. They were digging a tunnel.
So I was pissed, lousy food, no girls, not that I would have ever been successful but still no girls. I did like to try, somehow always ended up with my foot in my mouth.
I was sweeping one day and I noticed a German Officer striding across the compound he was muttering "Das Swinhundt Englandish" But I noticed the way he walked he took big strides, dug his heels in swaggerd. Damn, prisoners walk soft and sort of scrape their feet along the ground.
The officer comes up to the inner wire in which is a wire gate and a sentury, The sentury popes too salutes and opens the gate. The outer gate is open it is assumed that the guard towers control everything.
I thought, that guard is wrapped up in his own thoughts, I bet he did not even see the officer he just heard the boots. Sooo what else, I'm from LaLa Land. I put my hands behind me, put a scowl on my face and started to mutter, "da verblunget swinhunt Englanders alys kaput: I stamped my feet firmly in the ground and swaggered up to the gate. I'll be damned I never thought it would work but the guard thinking good thoughts about hefty overweight frauleins and sausage mit stuff, well, he salutes me and opens the gate. Sooo what else I walked out the front door. No I did not turn and wave goodby, I just walked out into the land-for-sale/land/forest">forest and that was it.
About 15 minutes latter an elderly German Lady came down the road on a bike. I stopped her, escorted her into the bushes, suggested she take her clothes off, I took off mine .Should have seen the smile on her face. Yeah, you should have seen the look on her face when I started putting her clothes on. I guess she did not meet many people from Beverly HIlls. Her shoes were too big and her underwear disgusting, The hat was fun had a straw brim and a flower.
Once again I waved goodby and left the elderly Hausfrau hidding in the bushes. I took my clothes and threw them away about a mile down the road. The bike was big and clumsy but it worked. Away I went.
I knew there was a major train line that fed into France if I could get there about 90 kliks due South West.. So away I went.
The rest is another story, Parts of it are even funnier.
Lucius Yes I am 81, I am still waiting for all that wisdom and judgement when the hell do I get that?
I beleive it. I was nowhere even close to being a POW. However I say "confidence is everything". In my broker than broke days whenever I wanted to go to the movies I would walk past the line outside pretending to be talking on my cellphone with my other fist clinched tight with my arm outstreatched slightly. I never made eye contact with anyone. Said "exuse me" to the guy taking tickets and walked right in like i had already been inside. The movie was great. For a whole year!!
Way to go Lucius! I apologize on behalf of the snotty Brits! They shoulda hung around with you, got out of the camp sooner and had more fun on the way too
. (Yup, I'm a Brit myself, but hopefully with the snotty edges knocked off by some years residence in the USA!). Your dad gave you a pretty good start in life.
Dunno when wisdom comes, in my 50s myself and not much wisdom yet. It's all a hum I think, bodies get to look old and wise, but the same teenager is running around in our heads.
Yay! Today I found an unoccupied and boarded up house within 3 blocks of home! Was dancing all morning in delight. By damn, thought I'd checked all local roads but on whim took yet another way home (do that often) and there it was... You should know boarded up houses are mucho rare in upmarket north Seattle! And here's one practically on my doorstep. A little research... it's owned by a couple of nice lads whose old dad recently deeded some properties to them. Now I'm off to suggest maybe they'd like to give me their boarded up house and get some pretty greenbacks to play with instead.
another newbie here - so....has this sub-group been formed? how do I find local REI clubs?
Did you recieve a reply from this message you posted?
Just wondering. I'm also wanting to form a small group for investing.
Write back when you can.
Thanks, Chris
Wow, do not know what to say...
Those are some serious words my friend. I asked you if would like to join Lisa's group and you came with that "tolerance - enemies" stuff.. Why? You don't like only women group idea? I think this is smart idea although I would join any group if is prosperous and positive. I saw your name (sounds female) and wanted to ask without prejudice if you would like to join so I appologize if that offended you in any way. Geez, do not understand you completely but you remind me of Mrs. Stewart my high school teacher. She too was from a small town and big thoughts NancyChadwick.. OK, so you are not interested then?
DealerJo, not to worry. You haven't offended me. I just thought it a good idea if we all remembered a few more of Gandhi's words in light of recent Forum posts. You are smart to join a group that is forward-thinking and positive and I wish you well. I'll check it out.
I'm new to this and would like to start a REI group in Arlington, Texas or in the Dallas Fort Worth Area. Anyone interested? Please reply.
Chris