Information Overload!!!
I have been reading just about everything I can get my hands on, recommended books, articles, websites, and forums.
Sometimes I feel like my head is going to POP with the huge amount of info I am trying to digest. Sometimes I feel overwhelmed, and don't even know where to go, what to do next???
At this point I’m not sure which methods interest me the most or use my strengths.
How did you find your favorite methods, techniques etc….
I was just wondering how you deal with overcoming the information overload??
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Robert Kiyosaki does a good job in his books to help put you in the mindset to be sucessful. His book Retire Young Retire Rich is very good after you read the first two (Rich Dad Poor Dad & Cashflow Quadrant). I'm a totally beliver that making money is not hard to do. The how-to is easy. Its the mindset, spending habits, etc...basically the psycology of a person that needs to be prepared.
HKS,
One thing you're going to need to know how to do is market yourself, your service, your business etc. I believe personally that information overload is not uncommon to those that want to avoid the problems associated with doing something wrong.
While I applaud your caution, I would urge you to avoid "analysis paralysis" No activity leaves you with no experience, confusion and un answered questions. There is no substitute for practical experience. Something that might help you accomplish some good things, gain experience, and teach you how to market yourself, and what you do is Bird-dogging. You are actively involved in the real estate business, and not personally on the hook for anything. You can learn how to get the right people calling you. You will get an opportunuty to work with experienced investors. You'll learn what type of houses and situations you feel most comfortable with. If you ask, You might find someone that's willing to work with you on a few deals, and help you get your feet wet investing. There are no legitimate negatives that I know of in bird-dogging. You will find that all of the homes that you come across will not fit into your investment criteria, but you can still pass them on to others you have met, and bird-dog these as an active investor yourself.
Just something to think about,
Jeff
HKS-
I second the bird-dog idea. Find your local real estate investment club and talk to some experienced investors. One of these people you meet could probably use a bird-dog. So you can find your niche as you get rich.
-Marc
Thanks for the replies. I have read most of the Rich Dad books, and I agree that they do give you the mind set, and not the actual know how. The know how is what I am having difficulty with. I would really like to find a mentor in my area (CT). I would like to find someone who is willing to walk with me thru my first few deals, and have questions bounced off them from time to time. I agree on the analysis paralysis thing, which I may be suffering from a little. The bird dog idea sounds very good, and is something that I will begin to seriously investigate. I have tried the real estate clubs for my state listed on this site or ****This URL Not allowed****.com One of the phone #'s is incorrect. I'm going to try to make the next REIA meeting.
<IMG SRC="images/forum/smilies/icon_smile.gif"> [ Edited by HKS on Date 12/01/2003 ]
Besides the "How" is the "What". Your situation may be good for some things and not for others. As a first step you might also consider (a la Kiyosaki) writing a plan which may guide your choices.
HKS,
You won't want to hear this, but trial and error is the answer. You will NEVER figure it out if you don't pick one method and try it out. You will read, get excited about a method, research that for months,get ready to get started, then get scared and look for the next "less risky" method. Then you will repeat the cycle. Ask me how I know.
Pick a method and get started. This is very hard to acutally do which is why 95% of posters on this site have never done a deal. It is kind of like jumping of the ledge. But that is what is will take. There is no formula or magic and no one can really tell you which path is best for you.
Good luck, and remember you have a pretty decent support group here at TCI to help you through it.
I like Nike's slogan---"Just Do It" There's no way you can digest everything you're reading. You're reading good information I'm sure but the real knowledge is yet to come once you get out there and become active in RE investing. I think somebody mentioned earlier on this post that maybe you could start out birddogging first until you find your groove..Good Luck!
There comes a time when you must forget about lining your ducks up and just jump into the water. You will know soon enough if you are charting the right course and then you can alter your steps. If you do not get started you will get bogged down.
Get out and look at the properties. Pick an area you feel comfortable in and begin.
Good luck
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