All Forum Posts by: Michael S.

I'm a newbie here too.  Just hover your mouse over the term you want to know, and BP will PROBABLY provide a definition for you.  (I say 'hover your mouse over" because I am on a PC and you probably aren't.)  Just touch the acronyms that you don't know.  I don't know much about cell phones.  I have one, and I use it, but still don't know much about it.

Hi Eric!

I'm new here too.  The best advice I can give you is talk to people in the areas you're interested in buying in.  I am considering foreclosures in my area here.  The worst thing you can do is nothing.  

I have been thinking and over-analyzing for years.  I haven't done anything, and we've (my wife and I) suffered for it.  I've been suffering from what Robert Kiosaki refers to as "analysis paralysis".  It seems a very apt term.  Most people suffer from it.  They analyze a situation, try to anticipate every single problem and situation that might arise, and end up doing nothing.  Inaction is my worst enemy at this point.  It might be yours as well.  I'm hoping that other people who actually know more about this stuff than I do respond to your post.

I'll try.  That's all I can say at this moment.  I don't know what's going to happen.  I've been listening to some of the podcasts and I've missed all the webinars thus far, but I'm working on learning how to watch the replays.  The webinar is at a time that's very inconvenient for me.  My church choir meets then for our weekly rehearsals.  I'm trying very hard to learn to be social again.    I've been out of the game for a very long time.  I'm still trying to figure out how to get back in.  I think I've started by getting involved in a local church.  I'm there every time the doors are open, and every time I hear about anyone doing anything I'm there asking the person in charge how I can be helpful.  The old days are gone.  They will not be coming back within my lifetime.  They WILL come back, but not for several thousand years.  Everything that HAS happened WILL happen again.  As Solomon said, "Nothing new under the sun".

I'm brand new here. As of yet, I don't really know anything. But I am trying to learn. Just from this thread I've picked up definitions for a few acronyms, ex. SFH, and MFH. Single and Multiple Family Homes.

I've quote the text above because people you know NOW have the goals of being truly passive.  NOW is important.  But it's not everything.  I think this situation calls for patience.  Yoda is totally yelling in my mind right now.  More like barking.  Patience!  I didn't use to have any.  Then I had to wait a bit.  And it grew a little.  The more I use it, the  more it grows.  

OK.  I freely admit that I am brand new here and I have no right to be giving you advice.  But I feel that I have a suggestion.  Have you considered network marketing?  My wife works at the local hospital.  I'm pretty sure that the town we live in is the armpit of the entire world.  I used to talk to international people on ICQ back when the 'net was young.  They asked me almost constantly how I liked living in Florida.  So I told them repeatedly that I lived in Oklahoma.  My wife makes  a lot of money.  But she pays for it with her life.  I have not worked since I was 25.   That was around 2005.  Now I am very involved at my church.  I'm still doing the wrong things, but I am coming up with plans on how not to do them.

In January I decided that I needed to invest some of my wife's money in areas that grow more.  She is very active on FB, so she tells me about her friends that sell for other companies.  I bought into two companies:  Younique and Paparazzi.  (I hope this doesn't violate the T&C for this forum).  Younique signed a deal with Network Marketing guru Eric Worre.  They can now share some of his videos legally.  To Younique consultants.  In one of his videos, Worre says that "Everything is hard...until it's not."  He then goes on to list several things like learning to walk/talk, learning to ride a bike, etc etc.  Whenever I feel like I'm getting burnt out with the whole thing, I go and watch one of his videos.  And then I'm excited about selling again.  Granted, I am younger than you are.  In July I will be 40.  I don't know anything.  I still have about 20k in student loans from when I believed that I was going to be a computer programmer someday, but the rates are far lower than your wife's 20%.  I did have loans at higher rates, but my parents (who are far more influential than I was at that point) made some phone calls and got them forgiven.  Now I only have the Federal Stafford loans at 3.78% and 4.3%.   They'll be paid off in about six years at the current rate of repayment.  I hope to increase that rate soon.

Also, my wife owns a house.  She has a car too, but it's paid off.  At least I did THAT right.  Eric Worre says that every situation he faces ends one of two ways:  He wins, or he learns.  I am still trying to get to the point were that thought is completely internalized.  We still owe ~$35k on the house.  I think we're almost out of the awkward phase of amortization.  It was $48k when we started.

I'm going to hit the magic Post Reply button now before I talk more about my situation.  I'm just excited because it's been so long since I had anything to say.  It's exciting to find someone who needs what I know.  OK.  I'm sending this now.

My name is Michael Sullivan.  I now live in Miami, OK and would like to buy rental property here.  People here are very friendly and respectful for the most part.  Unfortunately, no one talks about money here.  I was very fortunate a few years ago to learn about Robert Kiosaki.  Before him, I never thought of life as something to be seized.  My personal beliefs have changed much over the past five years.  I have been reading posts here for two days.  I'm seeing a lot of jargon I don't know (SFP, TH, etc etc)  I trust that in time I will make those mental connections between acronyms and the ideas they represent.  I have not worked since I was 25.  I'll be 40 in July, and it's time I actually did SOMETHING.  My wife works at the local hospital.

My parents were semi-professional house-flippers.  As a result, we moved frequently.  As a young person, I learned very quickly that it was not either necessary nor prudent that I unpack completely.  Unfortunately this is a problem I still suffer from.  In 2013 my wife bought a 1960s era house about two blocks from the house we were renting at the time.  It's 3Bd/2Ba (I know what THAT jargon means because of my many hours spent playing CashFlow on the Internet.)  We have our master bedroom, a guest bedroom, and my office, which is still mostly full from the crates stacked in the center of the room.

So I'll be asking for advice once I know SOMETHING to ask.  I believe that in any situation, there exist certain questions that must be asked and therefore answered.  I'm in the process of searching for what those questions are.  Perhaps I should ask for that?  What questions should I be asking?  Thank you in advance for any advice you have to offer.