I AM SO CONFUSED. HELP!!!!

Contributed by
firegal36

Sunday, August 08, 2004 @ 09:07 PM EDT
9 Comments

firegal36

hi again everyone, need help. as i state in my previous messages that i am a beginner when it comes to being an investor. i am reading books and reading different subjects on this and other forum and i am just so confused. i have no idea what the heck is going on. i really won't to persue this field and and anixious about getting my first property but like i said i am so confused about the whole process. i need a one on one mentor desperately. can anyone HELP me. :cry:

Comments(9)

JohnMichael5th August, 2004

I would suggest going to http://www.thecreativeinvestor.com/modules.php?name=Your_Account&op=userinfo&uname=JohnLocke

John Locke is a great teacher and coach when it comes to being a Bird Dog and on top of it he has a great course on the subject with coaching.

ChasG5th August, 2004

Firegal -

What are you specifically confused about? Are you confused about real estate in general, a specific type of investing, or if real estate is for you?

You are taking the right steps in that you are reading books and this site. I noticed in your other post you mentioned a couple of books you are reading. I haven't read one but I think i have read the other (you didn't give the authors and a few books are titled similarly).

If you are confused about why real estate can be a great career or how it can lead to financial indepedence, I would suggest reading some of the Rich Dad Poor Dad books. Those are great general books which will give you the bigger picture of real estate and financial freedom.

Also, I would go and join your local REI group and talk to the members there. Unfortunately, without you being more specific I can not offer any more advice b/c I am unsure what exactly you are confused about.

Take care

JeffAdams5th August, 2004

Firegal:
It is not uncommon by people who are getting into the business to be overwhelmed by all the different strategies and techniques out there. From pre-foreclosures, to subject to, to short-sales, to chasing mls deals as well as absentee owners and probate deals, it all get very overwhelming.

Here is the solution. Why dont you first start by working the "Absentee" owners in San Diego and nothing else! You could send out letters in an attempt to purchase their properties with the tenants in place. If you start with 250 letters a week, you will line up some deals. YOu could also try to contact 10 owners a week by telephone also.

In terms of education, I would recommend Ron Legrand, I believe you can still purchase his products on this site. I would also recommend John Locke's course. He will teach you how to assume existing financing, negotiate with the sellers and will give you his phone number to assist you with your first deal. What a deal! I dont know how he does it for the cheap price he charges.

Best Riches,
Jeff Adam
[addsig]

firegal365th August, 2004

just wanted to thank you all for the suggestions to my statement. i will try all of yoyr suggestions. and to 'CHASG' to answer your question anout what i am confused about. well i am confused about real estate in general ie. finding and locating properties, what to do one you find a property you like, how to go about getting the right lenders, how to make offers to the sellers, the paperwork. the list is just endless. wink

wannabe217th August, 2004

Don't try to tackle it all at once. You rattled off a pretty big list there. Just start with one topic and try to find information about it...ignore everything else until you get a grasp on the topic you're researching.

For instance...how to find properties. A lot of material has been written just on this one topic. For some, it means driving around looking for vacant and run down (ugly) properties. For others, it means advertising so that the owners of properties contact you. Click on the "Articles" link and look for articles that seem to cover just this topic and read them all. Print some of the ones you really like to paper so you can read them again later. Do the same with other investing websites...stick with the articles. Write down specific (not general) questions as you read and ask them here...just stick to the one topic you're studying. After you get a good grasp of it then move on to another topic.

Having a systematic approach will likely go a lot smoother for you rather than bouncing around between a lot of unrelated snippets of information like you'll get here in the discussion forums. Stay focused and know that this is not a get rich quick business. It's not even a learn quick business for many. Give yourself a break, slow down, and study at a pace where you actually comprehend and retain what you're learning.

wannabe217th August, 2004

keymtn7th August, 2004

wannabe21,
those are some great articles! All were written before I became a member. Thanks!
keymtn

firegal367th August, 2004

thanks guys for all your info and support. and wannabe21 thanks for getting those sites for me. U R THE BEST!!!!!! wink

wannabe218th August, 2004

You're welcome. Sometimes the trick is just to stay focused on one thing. When just starting out it is far too easy to bounce from topic to topic and not really absorb much from the effort. Getting focused and methodical can really be a help.

I leave it to you to look up articles on your other topics when you're ready. All of those articles come from this site (TCI), just click "Articles" at the top of this page, click "Article Search", and then simply type one or two words into the search box. Here's how I found all of those articles in less than 30 minutes: I simply and quickly picked a few of the articles returned to me when I searched on the word "motivated".

I AM SO CONFUSED. HELP!!!!

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