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Updated almost 12 years ago on . Most recent reply

Hello From Alton, Illinois.
Hi everyone I"m Pam Brown. I"ve been lurking here for several months and It's time to jump in and start working on my dream. I'm a Commercial/industrial Journeyman Electrician and laid off right now by choice really. I have goals for investing but can't seem to take the first steps to get started. I have a back ground in real estate. I'm very familiar with the areas I want to invest in and the market there. My plan is to start wholesaling or loa, which ever way it comes. I want to keep my options open. I want to earn the cash to rehab from wholesaling and sell these to fund buy and holds. My short term goal is $5000 a month residual income in 5 yrs. The problem is that I'm not finding any investors/mentors that are interested in my methods of investment and I could use a bit of guidance. So far those I've run into believe that I should just find a good deal go to the bank, finance it, pay it off by working my rump off as an electrician. That isn't really what I want to do long term. I don't have big cash but I don't have big bills either. I feel like a case of A.D.D kicks in when i start considering this again yet I always come back to it. I feel like I'm making it harder than it should be. I'm pretty sure that when I take off I'm going to fly. Right now it feels very awkward. I feel like a third grader that needs someone to hold my hand and say do this first, this next and this next, etc. etc. The fear kicks in and I'm just out here; Me against the world. I will keep pushing myself to get where I need to go. A little help and encouragement would go a long way. Thanks for having me here.
Most Popular Reply

Pamela,
welcome to BP. You remind me a lot of me when I got started. I was working like a dog in a tool and die apprenticeship and making decent money for a young guy. I worked at night and bought houses during the day. I was so freaking tired, I would put my car in park at red lights and take a nap. I knew the horns would wake me up. LOL!
Anyhow, I was an idiot and bought a bunch of overpriced rentals, just about went bankrupt, then I learned about flipping contracts.
It has been over 15 years now, and I am not gonna say it has been easy, but it is the best decision I ever made to leave a full benefit union job to chase something bigger.
Keep focused, I know it its tough, especially with ADD. ( personal experience, LOL)
I would begin by just bird dogging or locking up contracts then selling them. It does not take any cash or credit. Pretty low risk and high reward.
that is still a great cash flow generator for me to this day.
Good luck!
Let me know if I can help ya in any way.