I want to know how ridiculous this sounds.

Wholesaling
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I want to know how ridiculous this sounds.

Michael Juve
Real Estate Investor · Escondido, CA · Member since 2008 · 68 posts · 5 votes

Now I ,like all of us I'm sure, have seen the ads claiming that anyone can make it huge in real estate. They promise the world in a hand basket if you buy their course. We all know how they go I'm sure. :D

It seems that all of them are really just talking about wholesaling.

I don't buy into the whole getting money injected into your bank account basically on auto pilot.

But what I am thinking is being able to average a deal or two a month to begin to make a somewhat comfortable living. At least more then the average fresh out of high school, no college experience 18 year old. I have what I think to be a fairly solid plan on what I would like to do.

I am psyched to get going, I have a contract for purchasing, a form for assigning that contract, and I have got a few possible deal on standbye.

But for some reason I have a little voice in my head that is telling me I'm wasting my time and I am better off just going out and getting a job. And that little whisper is some how holding me back. :oops:

So please for my sake tell me that this isn't as ridiculous as it sounds. And even if it is just tell me it isn't anyway. :lol:

Ok maybe don't do that, but any tips and suggestions are more than appreciated. I think I need to just get out there and do something instead of sit around telling myself that soon I will get out there and make something.

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  • Jason Hanson
    Real Estate Coach · Oakton, VA · Member since 2008 · 695 posts · 43 votes
    18y

    First, ignore that voice in your head...don't let it hold you back from being an entrepreneur, instead of a drone in a cubicle.

    Second, anyone can do this, but not everyone will...because it is not get rich quick and it is a lot of work. If you are the type of person who gives up easily and does not have a strong work ethic or is not persistant then you are going to have a tough time.

    I would take action and just do it...but do it right.....make sure you are marketing consistently and that you are networking and that you are giving it 100%.

    This will probably be the hardest thing you have ever done...there is a reason only 3-4% of this country are millionaires.

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  • Michael Juve
    OP
    Real Estate Investor · Escondido, CA · Member since 2008 · 68 posts · 5 votes
    18y

    I am a lot of different things and stubborn is definitely one of them. No worries about giving up. :lol:

    And I would much rather put in a lot of work for myself then to put in a lot of work for someone else and get peanuts thrown my way.

    Right now I am more focused on getting a consistent income rather then the whole get rich quick thing. I figure if I can at least one deal a month consistently at an average of $5k a pop I will be doing very well for myself considering I just got out of high school.

    Like they say nothing ventured nothing gained. But I don't see any reason why I can't do this. At least not yet anyway.

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  • Lou Castillo
    Real Estate Investor · Charleston, SC · Member since 2008 · 156 posts · 37 votes
    18y

    I agree with Jason - this is not a get-rich-program. This is a business. And if you treat it as one and do the things you need to do, it will reward you very handsomely. Remember that the cornerstone of any business is its marketing. Develop a solid marketing campaign and be consistent in your marketing.

    Also, don't be so jaded by the quick riches programs that you don't get the proper education. You'll jump start your business and avoid a lot of costly mistakes by getting the proper education. Do your research and select someone that knows what they're talking about and cares about their students.

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  • Jason F
    Real Estate Investor · Gainesville, FL · Member since 2008 · 296 posts · 7 votes
    18y

    I went through a similar decision when I graduated college. I knew I wanted to invest in RE but I wasn't sure if I should jump right into it or get a job and slowly work my way into it.

    I decided to work for a investment banking firm right out of school and gradually start my investing business. I'm glad I did. While it was a lot of early mornings before work and late nights after, it allowed me to take my time and find those 'perfect' deals without feeling rushed to buy the house of whoever called me back. Within a year I was able to leave my cubical for good.

    What I'm saying is that it's okay to get a job and work to support yourself as long as you keep your eye on the prize. Think of it as having 2 jobs, one to pay the bills and one that will eventually make you rich. As soon as you start making more money in your RE career, you can quit our 9-5. I think trying to support yourself in RE as a young person right out of the gates might make you rush your education or deal analysis more than you should.

    Good luck. As silly as it sounds to your friends/family and others, you are making a good decision. Stick with it. You are already ahead of the curve.

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  • Ram Chandrasekaran
    San Jose, CA · Member since 2008 · 137 posts · 2 votes
    18y

    I agree with Gainsville. It is always good to be on a 9-5 job AND do your investing. Well, I am a beginner too but I am still on a 9-5 job to make sure I pay my bills and afford a good lifestyle. More than hard work, I would say - IDEA, FAITH and DESIRE with an EFFORT will get you there - Courtesy - Think and Grow Rich by Napoleon Hill.

    It is great that you are already planning to invest, I started about a year ago and 30 already! ;-). GOOD LUCK!!!

    Cheers
    Ram

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  • Michael Juve
    OP
    Real Estate Investor · Escondido, CA · Member since 2008 · 68 posts · 5 votes
    18y
    Originally posted by "gainesvillej":
    I went through a similar decision when I graduated college. I knew I wanted to invest in RE but I wasn't sure if I should jump right into it or get a job and slowly work my way into it.

    I decided to work for a investment banking firm right out of school and gradually start my investing business. I'm glad I did. While it was a lot of early mornings before work and late nights after, it allowed me to take my time and find those 'perfect' deals without feeling rushed to buy the house of whoever called me back. Within a year I was able to leave my cubical for good.

    What I'm saying is that it's okay to get a job and work to support yourself as long as you keep your eye on the prize. Think of it as having 2 jobs, one to pay the bills and one that will eventually make you rich. As soon as you start making more money in your RE career, you can quit our 9-5. I think trying to support yourself in RE as a young person right out of the gates might make you rush your education or deal analysis more than you should.

    Good luck. As silly as it sounds to your friends/family and others, you are making a good decision. Stick with it. You are already ahead of the curve.

    That is the situation I have found myself in. I had some money saved up. But I've been starting to spend it and I haven't had anything to replace it with yet. I'm thinking I should go out and get a job just until I start making money with wholesaling.

    I still don't have any reason to suspect why this can't work out. But I find myself in a situation where I need to start making some money right away before my bank account hits $0.

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  • Jason F
    Real Estate Investor · Gainesville, FL · Member since 2008 · 296 posts · 7 votes
    18y

    Then honestly, I would go find some employment that will take the worry off of running into 'bad debt'.

    If you are worried about making quick cash, now really wouldn't be the time. And don't think that you are pushing it off. You can still make money investing with a full-time job. It just lets you play it safe.

    Plus, there are always instances where you will need to have cash to make a deal work or for additional marketing.

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  • Michael Juve
    OP
    Real Estate Investor · Escondido, CA · Member since 2008 · 68 posts · 5 votes
    18y

    I do have some money saved up. But with the car I'm picking up ,'71 Chevelle, that will put a major dent in what I do have. Plus whatever it might need to be operable. I'm figuring a set of tires at the very least.

    The car is a screamin deal though. I could flip it if I wanted too. But I don't want to. I want to have a Chevelle that is all my own. :D

    My dad lets me drive his all the time but it's just not the same as having your own.

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  • Terry Royce
    Real Estate Investor · Baltimore, MD · Member since 2008 · 619 posts · 75 votes
    18y

    buy the car later
    invest in yourself now, you could have a killer marketing program for what it will probably cost for that car.

    one of my good friends just bought a car he didn't need. i shook my head.

    everyone wants to look fly, rich, whatever. it drives me crazy

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  • Matt DuSold
    Lender · Phoenix, AZ · Member since 2008 · 351 posts · 40 votes
    18y

    MEJ I am in somewhat of the position you are. I am just about to graduate college and am going to start investing after the year is over.

    I am going to work full time, in a school (thats what my masters deals with) or with some sort of RE job if I can find one. I am already prepared that school is going to be extremely hard and my life will not be loads of fun for two years. What I have learned is you need to make sacrifices and when your beginning you need to STUDY (RE), and live within your means.

    Living within your means is what gets hard especially for people our age. I work 40 hours a week and save every penny I can. I can easily be blowing my money on other things but I know if I save all my money now and the years I am in grad school by the time I am done with my masters hopefully I will need to have a 9-5 job for less than 5 years.

    Good luck!

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  • Michael Juve
    OP
    Real Estate Investor · Escondido, CA · Member since 2008 · 68 posts · 5 votes
    18y
    Originally posted by "troyce1":
    buy the car later
    invest in yourself now, you could have a killer marketing program for what it will probably cost for that car.

    one of my good friends just bought a car he didn't need. i shook my head.

    everyone wants to look fly, rich, whatever. it drives me crazy

    This has nothing to do with looking fly and rich. I have wanted a Chevelle of my own for as long as I can remember. This is too good of a deal to pass up on.

    I made the deal on the car months ago. And I'm not going to go back on it now. It is just now ready to be moved.

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