Find out for yourself

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Welcome to my newly created Blog here on Bigger Pockets. I will try to update this weekly, but sometimes it migth be bi-weekly.

I live on the Northside of Chicago, but invest all over. I have properties in NW Indiana, the Northside of Chicago, as well as the South and Southwest Suburbs. I have been the National Director of a RE Club for the past few years. We have several hundred members and I really enjoy running the club and helping people. http://www.WCRT.org

So let me get on with the topic... Find Out For Yourself.

What does that mean? Well it quite simply means that you shoudl do your own research and get your own information. Yes get guidance and information from others, but until you have done actual deals or have had several dealings with a person enough to just trust their numbers, then VERIFY it all yourself.

To many times I have been approached by people that have invested in properties or given out loans that are now not doing what they were supposed to do. These people want me to somehow wave a magic wand and save them from their mistake. Now all of them will say, "so and so screwed me over". Then I start asking questions and find out that they never checked things for themselves.

Why is it we will research the heck out of a car before deciding to buy one, but we will give our name to be used as a credit partner, loan out our hard earned money, or put our name on a contract for someone that we just met, or without doing our homework?

Recently I had a person come to me to say they gave a private loan that was to be secured by real estate. The person is not paying them back, won't return their calls, and had their cell phone disconnected. We decided to look up the property to see if the loan was recorded. Well it was recorded, but it was the 6th, yes 6th mortgage. The mortgages totaled like 300K, but the property was maybe worth 180K max. Now all this person had to do was to look at the website I did, and see that other loans were recorded prior to him giving the loan. One quick website, but no, we just take the word of someone that claims to be a guru and now you are out 20,000.00.

Nothing I can do to help there. Yes you can get an attorney and go after the person, but more than likely the borrower has no money left, no assets, etc. So now the lender will be out more legal fees and heartache.

So, in the end, LOOK BEFORE YOU JUMP. Don't jump into a swimming pool if you don't know how to get out first. Do your own research, get references, etc. In the end, YOU ALONE are responsible for your success and just as much for your failures.

You are bound to make mistakes, just be honest about them, not only with others, but mainly with yourself and you will be fine!

See you in a week! Happy Investing!