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All Forum Posts by: N/A N/A

N/A N/A has started 3 posts and replied 10 times.

I saw that thread - that actually speaks to one of my key frustrations.

All these books and CD's I'm reading are motivational and inspirational. The title to that thread asks about the most inspiring book.

I'm inspired. I'm motivated. I'm determined. I have goals. (I've read most of the books in that thread). Now what I need is not inspiration - it's knowledge. I need to know the best ways to grow my assets, not the inspiration on why I shouldn't spend every dime I make. I need a path, not inspiration to run.

I want to increase my knowledge and financial wisdom, no matter how boring or uninspiring it is. I've got plenty motivating me.

/rant

I'm making a very solid income at the age of 21 - about $6k/month with about $1500/mo expenses - by the time I'm 25 I'll be bringing in about $10k/month from my business - maybe more, but I estimate conservatively.

While this is all well and good, I would like to create a plethora of assets while I'm doing well now that would take care of me should my current income disappear (not expecting it to, but planning on building a family and want the security). I would also like my money to go to work for me in Real Estate, or whatever is out there than can significantly and exponentially grow wealth.

I'm very new to investments, and have just a 401k and a savings account. I am finally out of debt and my savings are growing, and my expenses low.

I'd like to really explode this thing. I've laid the groundwork to growing my net worth hugely and I want to do it wisely, but quickly and effectively. What do you suggest?

Also, what good books do you suggest? I've read millionaire next door, and rich dad poor dad. Although I am at the moment, I don't intend to simply maintain this and live below my means, I'm going to expand my means as best I can.

I'm all ears.

-Evan

I need more input about how I can become a successful wholesaler as a Student. If anyone can help me, post up!

-Evan

Originally posted by "creep":
Originally posted by "Ahheck01":
Originally posted by "creep":
Originally posted by "Ahheck01":
Originally posted by "creep":
I would focus on bird dogging and wholesaling. If you do wholesale, I would encourage using options if you aren't prepared to close if you can't find a buyer.
I read up on both, and I can't figure out what the difference between the two is? Forgive my noobishness...

-Evan :oops:

A bird dog finds potential deals, while a wholesaler puts deals under contract and then assigns that contract. A typical wholesale deal can earn you $5000, compared to a typical bird dog fee of $500.


Is it possible to be a wholesaler while taking classes, do you think?

-Evan

I am. I have a job, a serious girlfriend, and a fraternity on top of all that.

I'd like to talk with you further about how I might be able to do this too. I sent you a PM with my email addy!

Any other students who are involved in this sort of stuff?

-Evan

Originally posted by "creep":
Originally posted by "Ahheck01":
Originally posted by "creep":
I would focus on bird dogging and wholesaling. If you do wholesale, I would encourage using options if you aren't prepared to close if you can't find a buyer.
I read up on both, and I can't figure out what the difference between the two is? Forgive my noobishness...

-Evan :oops:

A bird dog finds potential deals, while a wholesaler puts deals under contract and then assigns that contract. A typical wholesale deal can earn you $5000, compared to a typical bird dog fee of $500.


Is it possible to be a wholesaler while taking classes, do you think?

-Evan

Originally posted by "creep":
I would focus on bird dogging and wholesaling. If you do wholesale, I would encourage using options if you aren't prepared to close if you can't find a buyer.
I read up on both, and I can't figure out what the difference between the two is? Forgive my noobishness...

-Evan :oops:

Well, holding isn't out of the question if it's the smart thing to do. From my limited knowledge, it seemed like a few flips could produce at least a downpayment that would be required for any sort of holding. I would like to reemphasise that I have nothing. What sort of REI, if not rehabbing, should I consider in my financial position?

For what it's worth, I'm close to someone in the business, and I'm meeting with her this week to talk about opportunities, and potentially working with/for her for now.

-Evan

Well, I'm in Cedar Rapids, Iowa. I'm told the market in Iowa is solid, and is excellent particularly in Iowa City (20min south) and Des Moines (2hrs SW). I'm not exactly sure how reliable this information is, however, nor where I should look to find out for sure.

-Evan

My name is Evan. I have a total of $10k worth of debt, including a very small car loan, I have a whopping 200 dollars in savings, and a car that's worth no more than $4k. That's all I've got. That, and a drive and determination that, with the right advice and direction, will get me out of debt, on onwards towards financial success.

I'm 21 years old, and in college. I want to start flipping houses - I want to start devoting my life towards making the highest returns possible as quickly as possible. Not so much for a get-rich-quick thing, but I don't intend to waste any time accumulating wealth, if at all possible.

Perhaps you guys can help. I started a thread in the "starting out" section:

http://forums.biggerpockets.com/viewtopic.php?p=35363#35363

Cheers all,

-Evan

Hi. My name is Evan - I'm a 21 year old college student. Right now I'm basically doing pay-as-you-go here-and-there gen-ed courses, but I plan to start pursuing a Mechanical Engineering degree in the fall at ISU.

...maybe.

At this point, I have nothing but 200 dollars in savings, and a total of $10k in debt.

I moved home for the summer, but rather than get another job as a server, I feel motivated - compelled even - to pursue something bigger. I want to put in a lot of time, I'm willing to take risks, and I want to make a considerable amount of money.

I had the opportunity to become a real estate agent, but I much prefer the idea of "flipping houses" or "rehabbing," if I'm using the term right. Essentially, purchasing a house, working to make it nicer, and then selling it for profit. I believe I would enjoy that immensely!

But in my position, having little credit and even less cash - is it possible for me to get started now? I wouldn't hesitate to devote 70+hrs a week to working at making this work for me, if there is a way to get started.

If there is a way, I need direction, big time!

Thanks for any help you can offer!

-Evan