Why I almost quit my dream...
Well for anyone that has not read the last few posts of mine ( it has been some time), I have not looked at the market until a week or so ago for about 5 months. Why you ask? I love real estate. The whole concept of working for myself, being able to create value, making passive income while sitting on the beach sipping a cold beer, staying at home with my family, making more money than anyone I know smarter than me...the reasons to pursue real estate are endless.
To make a long story short, my wife and I wanted to moved south to be near her family. I received a promotion within my company and transferred to Atlanta all exp paid. Score! We expected to move with or without me staying at my current employer so I tried FSBO around June 2015. I decided to list with an agent Aug 31, 2015. House receives full price minus $5k exactly 7 days later. I accept. Neighbor hits my garage in November, I move 1 week later with wife and 2 month old son to GA from NY. Insurance company isn't responsive...contractor I hire doesn't show up for work...go through 3 contractors to fix garage for buyer...buyer messes up his credit,,,buyers agent/lender pushes closing out 10 times no joke. Can't hold out because no other offer are put up and I tried renting about a month prior with no luck. All in all from offer to close it took 8 months. I expected to make just shy of $30k on the deal after taxes and closing...not bad for my first deal and living rent free for 2.5 yrs. The waiting process cost me about another $5k. I'm happy it's over and looking to reinvest but as patient as I was I was ready to give up.
This does not explain in detail the stress and pressure I was under but always know everything works out and ALWAYS keep pursuing your dreams. Like many books I've read and audio tapes I've listened to many millionaires have filed bankruptcy or been broke. Rich Dad Poor Dad folks. I try to model my lifestyle by those I want to mirror therefore I strive to read at least a book a month(educational). Prior to this goal I hadn't ready any book in years.