New Member - New Investir

[Eric Titlow]

Hello...again? 

I've tried posting an introduction a couple times, but it doesn't seem to go through. Anyway, like many new investors, I've read all the books, watched all the videos, listened to all the podcasts all while making every excuse in the world to stick with my safe W2. For me, that time has come to an end. But first, I need some guidance. Consuming content and having personal interactions with people actually DOING the thing are very different. I want to do the thing. 

Here is my current situation (maybe an overshare?) I currently make around $200K at my W2 in Oklahoma. I have not always made this kind of money, so I've spent the last ten months making up for some dumb decisions of my past. After paying off said decisions, I'm sitting at around $15K savings, a 31% DTI and 700 FICO. My question is, is private lending as scary/risky as it seems? I could probably save up enough for a downpayment/closing/rehab by this time next year, but then that gives me another year to convince myself not to do it. I need to act now. I'm not desperate, but corporate America has taken the soul from my body and REI is the route I've always known I'd take to create my freedom. Any and all advice is PLENTY welcome!

[Marc Winter]

@Eric Titlow,

Checklist: DTI = good. Credit = OK. Income = Good (depending on your monthly nut). Goal = fine. Focus = ?

Your focus of financing--it's not about the financing, it should be about the deal.  Concentrate on locating a great deal, and the money will find you.  

@Janice Carter gave great advice about being active in your local REIA. Meet and form relationships with other members. Talk about opportunities, you'll be amazed and delighted when you mix it up with other investors.

Word of wisdom: show yourself some grace; stop stressing about what you don't have, and concentrate on moving forward at a slow, steady pace.  Good luck!