Seems like passion and motivation just isn't enough!

14 Replies

man... i have been studying, listening to EVERY single bigger pockets podcast, read Brandon's books and i have annoyed most of my friends by just talking about Real Estate and how much it just MAKES SENSE but i cannot ( i hate using that word) figure out a way to purchase my own property. I have short credit history, just switched lines of work (from food service to insurance adjuster) and have no savings, my parents have no equity on their house, none of my friends seem interested to join me so it has me asking... is passion and motivation enough? I am so pumped to do this that even though i lack experience i would do anything in my power to just make it happen. I am having a hard time finding real estate investors in my area, i'd love to chat and pick your brain for a bit or even better work under you as an assistant and help out in any way i can to get some experience. Any advise is GREATLY appreciated, you guys are great! Thank you.

Simple... ATTITUDE is Everything.

get out and start driving your investing area
write down the address of houses that look vacant or the houses that are in need of lots of repairs.
look  on bp and find a good mail piece to send the home owners and when you get a return call from a seller and dont know what to say post on bp and ask what to say 
their are tons of investors on here that will help.
one thing i know for sure if you dont do anything you wont get anything 
now get out on the roads and start looking for deals 
good luck @Gustavo Martinez

Thank you @Mark Brogan ; I have read of that approach and i am familiar with it... question is, how would be able to purchase it? or are you referring to wholesaling?

@Nick Britton that's the same mindset i have but it is letting me down a bit man! I am not giving up yet though, there is a lot out there, just have to find it.

i am not just talking about wholesaling,if you can find motivated sellers they will finance the house for you or beg you to take it off their hands for a very small amount of money
i would imagine in your area to find those kinds of deals you will have to market directly to the sellers 
good luck @Gustavo Martinez


You have passion and motivation, but you're still lack knowledge and creativity. Look up posts by Uncle @Bill Gulley . Listen to him and start from there. There are no short cuts unfortunately. You can shorten your learning curve by learning from other successful investors, but that's about it. 

One thing that Uncle Bill likes to say when others ask how do they make $1MM in real estate? His answer is to start with $2MM.  :-)

  1.  Building a successful RE business requires several elements. If you don't have investment capital, then you'll need to learn how to raise capital. In order to do that successfully, you need 5 things. If any one of them is missing, it won't work.
    1) Relationship
    2) Trust
    3) Results
    4) Compelling Opportunities
    5) Alignment of goals

    Let’s dig a little deeper.

    1)Relationship – Most people won’t invest with someone they don’t know. So the key is to build relationships with high net worth people who are looking to put money to work. They emphasis is on relationship. People with high net worth are very sensitive to the idea that people want something from them. They don’t want to be used, any more than you or I want to be used. So it has to be a genuine relationship.

    2) Trust - A complex psychological contract. It has many layers. There’s much more than “Are you an honest person?”

    The astute funding partner wants to know:

    • Can I trust you to ask the right questions about a project?
    • Can I trust you to put together a good plan?
    • Can I trust you to execute that plan?
    • Can I trust you to evaluate and manage risk appropriately?
    • Can I trust you to communicate in an open and transparent way?
    • Can I trust you to communicate when there is a problem?
    • Can I trust you with my money?
    • Can I trust you to hire good people?

    If the answer is “no” to any of these questions, then the funding relationship will run into difficulty.

    3) Results
    What results can you show? Show me a track record of success. Show me what you’ve done, mistakes and all. Past results can often be a predictor of future results, but not always. Will you invest with someone who has lost money on eight out of their last ten projects? I wouldn’t!

    Reputation in business is part of that all-important foundation of trust. Some new investors see a dilemma in what I’m proposing. “How can I raise capital without a track record? How can I develop a track record if I can’t raise any capital?” My response to that is simple. First of all, investors prefer to invest in businesses, not the self-employed. Business is a team sport. If you’re not part of an investment business and you’re just starting, then join an established business with a track record of success. Work in that business for a period of time. You can then legitimately borrow some of their credibility and track record. While you don’t own that track record yourself, you can show that you have played a key role in successful projects. This is often enough to show a funding partner that you know what you’re doing.

    4) Compelling Deals – When a project is strong enough to generate more than 30% annualized returns, it becomes a safe project. There’s enough buffer to withstand a few mistakes, and there’s enough profit to go around and make all the partners happy.

    5) Alignment of Goals. - All money has an agenda attached to it. If the agenda for the money and the goals for the project don’t align, then don’t take the money. It won’t work in the long term.

    Let me give two examples. I have two funding partners with vastly different goals.
    • 1.One of them wants to make high rates of return on a short-term basis. They’d like to recycle their money into a different project every 90 to 120 days.
    • 2.I have another funding partner who believes that short-term projects can make high returns, but that money will sit on the sidelines between projects earning zero. He prefers to make a more modest return, but wants his money working for him in longer-term projects. His philosophy is that he will make more money and have lower risk by keeping his money at work.

    I can’t say that one is right, and the other is wrong. They’re just different. I’m not going to try and convince a short-term investor to make a long-term investment, and I’m not going to convince a long term investor to do a short term transaction. It wouldn’t make any sense. Always take care to align the goals with the agenda associated with the money.
  2. So you're right, you need more than just passion and motivation. Hope that helps. 

Like many, you're motivated but lost. Learn real estate before trying to deal in real estate, learn the basics. To be a good operator or investor you need to know more than what Realtors learn to get a license, start there, the rest will be understood. 

Then build relationships. to hook up with good partners or investors you'll need to demonstrate knowledge. Good luck :)

Everyone talks to their friends about being excited... Ask my friends and wife and they'll tell you I don't shut up. More importantly, How many OWNERS have you talked to? Maybe you can do some owner carry. Perhaps find distressed properties and fix them with hard money and flip one or two to get your savings up. You could go the route of trying to wholesale.

You are absolutely right: Passion and motivation aren't enough. ACTION and INTELLIGENCE are. You are building your intelligence, but ignoring the action. Quit staring at the closed doors and use the open ones   ;)

You may not be able to find investors because you are telling them what you could do for them. SHOW them what you can do for them, by bringing them a deal. Investors stick to the true addage cash talks and bs walks. Bring a viable deal to the table and you will have investors interested. After a few deals investors will be calling you asking "Do you have any deals I can loan on this week??". CREAM (Cash Rules Everything Around Me)

Patience.    When I was younger I felt that I would never save up the money to buy real estate.  Now 10 years later I see everything differently.  It takes time, but at the same time it's amazing how quickly your circumstances can change.

The best thing you can do is take it one day at a time and do not get discouraged.  Be discipline over time and learn as much as you can and talk to smart people.  I would caution not to go around begging but have a spirit of learning.  It's like the guy wanting to sleep with a girl on the first date.  It could happen on the first date but you need to plan to put the work in to get to know her first. 

let me tell you a story, gustavo. learn what you can from it, or just simply pass it off as one mans luck. 11 years ago, i started out on real estate investing. i had $2000 in my bank account. the bank said i had to keep $300 in it to avoid monthly charges. so, i had $1700 to invest. we went to look at a house listed on the website. right next door was a boarded up house. hadn't been lived in for like 100 years, so it looked. i contacted the local tax authority and found out that they owned it thru back tax reposession. ( keep that in mind) along with this, they owned 2 other houses. i went to  look at all 3. i ended up buying that house for the $1700, but kept one of the others in mind also. i got a credit card for $4400 limit. fixed up the first house with that money. what i didn't already know about fixing up houses, i learned by doing this one. i have owned that house for 11 years now, took out a loan on it for a small amount to pay off the credit card and give me some money to move on to the next one. the tenants pay the payment and taxes thru their rent, and i still own that house to this day. i bought the second house too......... for $500. thats right, you did not mis-read that, it was $500. the city just wanted it off their books. i spent about $5000 fixing that place up, rented it for about 5 years and then sold it for $10,000. 

my point here is, gustavo, you can start with next to nothing and make it work. you just have to believe in what you are doing and let nothing stop you. you are going to run into brick walls that try to stop you. there is an " almost real" force out there that seems like it just wants to stop you in your tracks. push on, let nothing stop you. get it into your head that you are going to do this no matter what stands in your way. i just sold a flip house in may for a $41,000 profit and i am now sitting with that in the bank. you can do this too. just get started.

Thank you all for taking the time to respond to my post. You have no idea how much help this is to me and how much it opens up my eyes. It is time to take action and stop waiting around. Crazy how much BiggerPockets supports people like us and how people like you guys that are so busy take the time to give me your input. Once again, Thank you!

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here