All Forum Posts by: Cedric Casby

@Tom Cyr

Sir, thank you for your encouragement and words. I am glad to know that my subsequent steps are sort of in line with your advice: take smaller bites. I have since had to shift my goals, a bit. I did decide to focus/research more narrowly.  Yes, I did decide to abandon 'wholesaling'. And I am adamantly sure, in regard to that.

However, I did decide that without much capital and a conventional work schedule (I work offshore), my options are initially limited. It has been a challenge for me to find that social networking community. My work schedule is difficult to change, at the moment. But capital is something I may be able to alter due to the fact that I own my home. I have decided that my best option to gain capital to help start my investment career with little additional cost/disposable income would be to rent out my home and move in with family. It seems the best way for me to begin. Eventually I hope to upgrade to bigger, better and more properties, so I am not really attached to my first home anymore. It is more or less a means to an end, now. I hope to have it rented sometime this year. Once that is done, I will hopefully be able to wealth build one small step at a time.

February 2015

So here it is, this is how it goes and there is how it went. I didn't complete many of my goals (more specific), my real estate goals for 2014 enumerated:

1. Read blogs: #EPIC FAIL                                                                                                        I almost forgot about BiggerPockets. In fact, I just recently received an email from BiggerPockets letting me know that I haven't logged on for a very long time. Here is the kicker, I didn't even open the email which was sent to my inbox a couple of weeks ago. I was able to view a couple words of the opening sentence....and then I moved on.

2. Join a REIA: #EPIC FAIL I did not join an REIA. I never even searched for one, really. The surprising fact is that I had the realist of intentions to do so. I really feel as if an REIA will be educational. The weird thing is, I would randomly remember to do so while I was shopping or driving or working. But I never put thoughts into actions.

3. Read Rich Dad, Poor Dad: #SEMI-FAIL                                                                                I did pick  up this book and attempt to read. One chapter at a time. I do not recall how far into the book I made it, but I am getting symptoms of annoyed disgust. This man did write a parable, which is almost always positive. But I just kept thinking 'malarkey'. This man apparently wishes everyone to believe that he had the insight of a successful business mogul, at the age of 8. I just couldn't remain interested enough to continue reading. Although I consider this reaction partially influenced by astrology (I am a very practical type of person-no imagination, no fairy tale fantasies), I dropped reading that book like a bad habit. And I actually have no regrets about it.

I recall my first introduction to Robert K*****gi, I was at the Rich Dad, Poor Dad seminar and one of the guest speakers asked for a show of hands of people who had actually read his book. While the hands went up and mine did not, I recalled thinking that the book couldn't be too great since the people who read it appeared to be in the same boat as me: in a free workshop, on the weekend, trying to financially alter our lives for the better. I don't believe that book could hold much benefit for me. I give myself a semi-fail, because I harbor no regrets about not finishing, even though it was my goal to finish the book. However, I did enjoy his #CASHFLOW game. That game is a fun, but working task.

4. Read BiggerPockets Ultimate Beginner's Guide to Real Estate Investing: #SUCCESS       I did read this book. I found it interesting. It was easy to understand and written at a comprehensive level that I was able to grasp. However, the book was definitely general knowledge (which is more than okay for a beginner). I actually credit this book for redirecting my attention. I no longer am interested in wholesaling, partly because this book informed me that there are a multitude of other real estate options for me and partly because I was swindled by another BiggerPockets member. But I did read the book, took notes on each chapter and developed a better understanding of where I may fit in, as it pertains to real estate.

5. Save $500/month: #EPIC FAIL                                                                                               I did not save any money. I actually started to do so. Things were flowing well...until life reared its head. I am not in a financial strain, but I have family members who are. I picked up the financial responsibility for a brother who needed a defense lawyer, then for another with 4 kids who lost his job. So I was/am shelling out money for other people's expenses. I also decided to use a large portion of money for a couple's vacation to Breckenrigde, CO for Valentine's weekend. I spent and not saved money.

OVERALL: I did not save money, I did not learn as much as I envisioned--at least I don't feel that I have....and in retrospect, the majority of the time, I did not think about real estate much. I did not stay focused and found myself grasping at knowledge that was not concentrated. I found myself reading anything about everything online. But I believe that my ultimate failure was not writing out my goals and displaying them at a place where it would have been impossible to forget, ignore or cast aside. I wrote everything on paper, inside a notebook. But when I do not look inside that notebook everyday, sooner or later I no longer think about my goals. I just remain in the #RATRACE, day in & day out.

I make no excuses or harbor any shame in these failures...I just hope to remember them and not repeat them.

So...it is the beginning of August 2014. I just completed my summer semester of college. I was taking additional courses for my computer science major. I started off doing extremely well in the course, but after attending a Rich Dad, Poor Dad seminar, I lost a bunch of motivation to concentrate on my studies. I did end up getting my act together. Unfortunately, I had failed to complete some weekly assignments. It dropped my overall average, but nevertheless...I was still able to muster up enough work product to earned the lowest 'A' possible....a 90% in one class...and a 97% in the other. So although, I still managed to maintain a 4.0 GPA, my drive never fully recovered. I am not enrolling into college for the fall semester. I have decided to learn more about real estate for a minimum of one year. It is my decision to learn, but not invest....during this time.

It has only been one week since the semester ended...I have done very little outside of think about real estate. I have not read any blogs, found a local REI group, listened to any podcasts or read any books. However, I did manage to convince one of my friends to start the journey with me. Together we have purchased Robert Kiyosaki's "Rich Dad, Poor Dad" book to improve our mind frame. We also decided to search for a local REI group to join, read a minimum of one chapter of "Rich Dad, Poor Dad", "BiggerPockets' Ultimate Beginner's Guide to Real Estate Investing" and one corresponding "BiggerPockets" podcasts. I do believe it is a slow start, but I think it will be a good initial pace for the both of us.

Although technically in the preliminary stages, I have been able to save $800 for the month of July, to build my investment reserves. My initial plan was to start at $500/mnth. Although I understand that it isn't much, initially, I am confident that as I learn more, my incentive to save more will increase....plus, my elimination of college related costs should vastly improve my savings.

I wish for myself the best. Hopefully I don't let myself down.

Just as an UPDATE to all,

It has been 3-weeks since I decided that I wanted to learn more about real estate investing. I initially began doing loads of reading, but all of that has come to a stand still. It was a bit overwhelming and I could not completely focus. I am taking summer courses for college. I already have one bachelor's degree (Marine Transportation), I was returning to college to conduct a career shift (Computer Science). After the Rich Dad, Poor Dad seminar and being exposed to the fact that college isn't necessarily the only and best way forward, I have decide that I am more interested in real estate and will not be re-enrolling in the fall semester 2014. 

Yet, I have not been able to do much real estate investing learning, because of my summer course load. It is ironic, my classes now seems so much more difficult because I have lost my motivation to participate and learn. I have gone from making complete 100%'s to struggling to meet deadlines and missing assignments and earning 0%'s. I feel like I am wasting my time with college, but I wanna follow through, just in case I need to return to point A in the future. I have shelved all the real estate investing material that I have purchased and hope to return to it later this month after the college summer semester is completed. 

I intend to give myself a complete year to simply learn about real estate before making any investments. Hopefully that will provide enough competence and confidence to continue in this market. If not, I shall return to college.

@Paul Timmins Thanks for the roadmap. I have already downloaded both books and started reading just yesterday. I expect that I'll have to take my time with the reading and learning. Bad news: At the moment, everything is a bit overwhelming. Good news: After I am complete with my summer courses for college, I have decided not to enroll in the Fall semester. I would much rather use my free time learning and studying real estate investing. I already have one college degree and returned for another to conduct a career shift, but I think real estate investing is perhaps a better investment.

@Joe Butcher, I most certainly plan on searching for local REI groups to become a part of. Although the thought of walking into a room full of strangers at this moment is imagined as intimidating, I am certain that once I attain a bit more knowledge and confidence, I'll be ready to walk the plank.

Thanks for the responses, both. This is feeling a bit euphoric. It is difficult to imagine a world where random strangers are so genuinely helpful. My gratitude and inspiration...I'll be sure to remember to pay if forward

@Joe Butcher...that can not be a real name...haha

But I paid $399 for the 3-day training. To be honest, I can not say if it was worth it, but the training was enough information to do more than pique my interests. It incited me into action, but cautiously.

Likely without that exposure, I would have let my fear command me and would not be taking steps to try real estate investing. I did not fully commit to their mentoring program because they pitched too hard and because I lacked sufficient capital to purchase the only program I felt was worth something to a person who knew absolutely nothing about real estate: $22,000. There were lesser options ($6,000 & $11,000) but ultimately I felt there was not enough Return on those lesser expensive packages.

That is really cool. I have not read the book, but I did read the reviews online. A lot of people mentioned that no substantial information was in the book, only general concepts. So I neglected to pursue that particular book. Instead I purchased Real Estate Investing for Beginners and downloaded BiggerPocket's ultimate guide. I have played the game and it was loads of fun. So much so, that I went to Ebay and ordered both CashFlow 101 & 102 for $85. Just arrived today, so hoping to get into it this weekend.

I recently purchased a 3-day seminar package and am wondering if anyone has any thoughts or experience with Rich Dad, Poor Dad in general.

I recently made contact with Phil Pustejovsky's 'FreedomMentors' real estate mentoring program. Has anyone any experience or thoughts with this real estate organizations???