Spinning My Wheels!
Hello all-
I've been looking at this Real Estate Investing thing for about two years now and I still have a lot of beginner questions. I feel like I've been spinning my wheels for the past two years and sometimes like I'm not going to ever get started. I don't wanna sound whiney, but it seems like everytime it looks like I might be getting started good, something comes up, or the deal falls through or even just completely stops!
If you look at some of my forum post, you'll see that I have learned enough to make a little money, or get myself into some serious trouble if I'm not careful. I guess my question would be: What is the best way for a guy like me, who knows a little bit about investing but has no money and no mentor and no clue what to do with all of this information, do in order to get started?
I know that there's money out there to be made and I know that it can be made in as little as two or three days. I want my piece of it and I'm not gonna stop until I get it. I'm lookin' to cash in on my first deal by Christmas, and (not to sound redundant) I know that it's possible with the right information and the right contacts. I wanna do Contracts and assignments, but it seem like when I mention that, nobody knows what I'm talking about!
With the right people and the right information, I WILL close my first deal by the end of the year and I WILL provide my family with a GREAT Christmas!!!
I know that right person is out there somewhere!
Now, let's go get this money!!!
8-)
[addsig]
Tom Hopkins has a great saying in his sales audio cd's. He says he used to think that determination was the key to success, he now credits discipline to being the biggest factor of success.
. etc. Investing is a numbers game, you make enough calls, talk to enough people, visit enough properties and you will find a deal.
Discipline in real estate investing is making calls every day, using your free time to feed your mind via books, mags, forums
I suggest you look at bird-dogging or assigning. If you have SPECIFIC questions regarding these two subjects, just ask.
[addsig]
Find your nearest REI club and start networking and learning. I have heard NV is great investment state, find the other investors and ask how they do it. sounds like you have the drive, so dont give up! good luck.
Seems to me like you have some confidence issues. If you feel you have a good handle on the basics of REI, then perhaps you should visit the local toastmasters group to learn presentation skills and public speaking.
Before I knew what I was doing (maybe i still don;t know) I had the confidence to sell ice to eskimos. I wouldn't let unknowns scare me (publically). I'm convinced that the only way to be successful in this business is to be able to talk with people and have them trust you. If you are talking above their heads or using words/phrases they don't understand, how can you expect them to sell to you?
One of our students in Las Vegas just told me that Vegas is still booming with most investors making money on every deal and that even one of his birddogs made 100K last year.
All you have to do is get out there and find the deals.
John (LV)
I agree with dlitedan you should join your local investment club. You can find people to help you , people you can flip to and the money for deals. At our meetings I have flyers on the deal table for anyone flipping property and needing a buyer or anyone needing a partner for a deal. I would think that most clubs have people doing the same. >>George
How does one prepare for a career?
An attorney may spend as little as a day or a week or a month preparing to file a lawsuit that settles 'in a day or two" but does that mean that he earned his fee with a day or two's work?
Or, consider a surgeon who is paid $15,000 for a three hour operation... can you think that he earned his fee for just the three hours spent hovering over the table?
No. The fees are earned after years of learning, and building the credentials needed to place themselves in a position to earn..
The same holds true in 'this real estate thing' into which you profess an interest.
Don't make the mistake of looking past the requisite education (either formal or school of hard knocks), the payment of dues, and the skillset needed to place yourself in a position to earn.
It's great to be motivated and have conviction... but there is more to 'this real estate thing' then being motivated and having conviction.
Stay at it. Do what's needed to enhance the skillset of the trade, and you'll have yourself a career.