[b] I live/invest in Milwaukee, WI. I'm beginning to think this isn't a good market for someone like me to invest in;
I have no money AT ALL, bad credit, no partners, no hard money lenders, etc. I have made 5 offers & am 0-5. Anyone I have turned to seems to be looking out FOR THEMSELVES; not willing to help freely.
I had 6 deals stolen from me by my "mentor/friend", and have been told that I will never succeed at this being a woman. I would love to be successful & be able to support my 2 innocent children; can anyone help???
I'm wanting to get into Wholesaling (local & out of state), and would consider "buy & hold", but not knowledgeable in maintenance/landlording!
Don't get disappointed.... BUT do start by repairing your credit! It's possible to go forward in you situation, but it will take lot's of work and perseverance. You will have to work hard and smart. You mentioned that others are stealing your deals? Are they acting faster then you are? This is a very fun, profitable and very challenging and competitive business. Don't wait for help to come to you but instead get to doing something. I wish you good luck !
Only 5? I get a 10% hit rate on my offers and that's outright cash purchases. You need to get that victim mentality crap out of your head now. It was in mine I did the whole whining about had nothing, bad credit, no lenders, thoughts of suicide, poor me, all that bullsh$#. You know what focusing on all that does? Not a single thing. B.S. mentors are a part of this business. Be thankful you know how to identify one now before you put real money into one. I had a friend invest 64k into Carmine Baffa who now sits in jail on charges of raping his mentoring students' kids.
You know something - and what you know is valuable. You know something about a market or a tactic or a special skill that has a value attached to it. Stop advertising what you don't have and start advertising what you do have. Sorry but no one cares about your kids when they have their own to care for, no matter how innocent they are. Harsh truth, but deal with it. When you have something of value to offer, people who have other things of value to offer to you will start to come into your sphere.
Enough on this subject. You don't have time to think about this in this business and this is a dose of tough love for you. Read the 7 Habits of Highly Effective people and start practicing them before you put another minute into real estate. You need a mindset shift before you need anything else.
Tim
P.S. Sending a big hug with this one. I wouldn't invest the time into a response if I didn't think you could do it.
It sounds like you have a long road a headof you befor eyou are able to start investing. You will need to repair your credit score to at least 680 before anyone will even look at you. You should educate yourself as much as possible while doing this. REal estate investing can be done from anywhere and there are some markets that are beter than the others. You should join your local REIA also. Keep your head up, dont give up but you will have to be realistic at the same time. Your credit is what is hurting you the most.
Edited: 06/26/2010 at 06:51AM
Curt Davis, buyMemphisnow.com E-Mail: crtdavis@gmail.com Telephone: 901-881-0552 Website:http://www.buymemphisnow.com Full Service Real Estate Investing in Memphis TN
I'll add "The One Minute Millionaire" to your reading list. Pay special attention to it. Your brain is the most advanced computer ever designed to date and you are using it against yourself. Reprogram that software.
