All Forum Posts by: Account Closed

@Jay Hinrichs:  Granted.

But, please expound if you're going to say something like that.

So, very quickly this morning, I wanted to write a post outlining exactly what you, as a newbie, need to do to succeed in real estate.

It's relatively simple, but we as humans like to make things complex.

Ready?

Buy a house.

Whatever it takes for you to make an intelligent (read: good investment) decision about purchasing a house is what you need to do.

To get to that point, you don't need to:

• Read more, unless you don't have the correct information.  Then, read enough to get educated for the sole purpose of taking the action necessary.
• Make business cards.
• Make a website
• Start a company
• perform all the other myriad of tasks that keep you occupied and away from the main objective of purchasing a house.

You do need to:

• Go look at houses
• Analyze your farm area
• Make offers on houses
• Buy houses

I am speaking now directly to the new person now that has been here for months or years.

Why are you here?  How long more do you choose to take before you do what matters?

Do what matters.  Drop all the rest.  

It will be scary.  Your hands will shake.  You will pee your pants all the way through, metaphorically speaking.  We all go through it.

It will get easier.

But, you have to take the first action.  

What are you waiting for?  Nobody is going to reach out and grab you by the hand.  Take the action you know is necessary.  Take the action that will equal the betterment of your future.  Take the action.  Take the action.  Take the action.

Stop living on the sidelines.

...

Keep rockin'.

@Sedrick Hay, under the section entitled "Members" there will be a sub-section titled "Withdrawals or Resignations" (or something very similar).  This will spell out the how.  It should also point to another area of the agreement that spells out how the sale of the membership is allowed.

I  say make the offer.  The agent is obligated to give it to the other side.

The worst they can say is no, but you will miss 100% of the swings you don't take, based on conjecture.

It happened to me every time I did it (when I started) if I did it in bed.

I moved to the living room and sat on a chair to do it.  This helped.

Hello everybody,

I am continuing my networking group this Saturday, March 26, 2016.

The meeting will be in the Lower Level Conference Room in the Jeffersonville Township Public Library in Jeffersonville, Indiana (on 211 E Court Ave, Jeffersonville, IN 47130).

3/26/2016 - 9:30 AM to 12:00 PM

This meeting is for networking.  I'd also like to focus on accountability; to move each other forward in our business; whether we're veterans and have stagnated or we're brand new just starting out.

I hope to see you there!

I have no statistic on how many newbies are here.  I know there are a LOT.

I see many people come here, make statements about what they want and desire, then go away and never come back.

Why?  Fear, I believe.  I'm pretty sure about that.  If this game were easy, everybody would do it.

I'm actively investing now in real estate. I own my own home, have flipped one house and am imminently closing (should be this coming week on both if the stars align correctly) on the next two (one rental and one flip). I've also got a 110% offer out on another REO property that I'm hoping to get for a flip.

So, though I am repeating a flip, this in-the-bag flip is a bigger flip (more work; more unknowns).  It was also 12K more than the last flip in terms of purchase price.

The rental was cheap.  Not much wrong with it.  However, the rental is an entirely different business than flipping.  More unknowns.

Both of these are scaring the scrap out of me; in a different way than doing my first deal did.

The fear does not ever go away, evidently.  Or, it will take many deals.   I still feel like a newbie (indeed, I still am). 

The more I learn (and am learning), I feel like there's that much more (and more beyond that) to know.

I felt the same way 16 years ago when I got into computers.  I started learning; a lot.  The more I learned, the more I felt there was to learn.  I kept my head down and studied (while having a computer job) for almost 5 years straight; hours every night.  I FINALLY crossed a threshold where I felt like I had learned enough to feel "comfortable"; to where there was no fear any longer.  (The reason I did this was because of something Tony Robbins said; that is, if you improve in your career field by studying every night, within one year you will be in the top 10% of your field.  I took him at his word.  I am not sure if that's true or not, but I do feel  at or close to the top of my game now in my computer career.  I'm taking it on faith that I will do this with real estate as well.  The methodology will be no different (study my butt off until I'm at the top of my game.  Then, never stop)).

This is my assumption in this real estate game.  I will continually learn and take action for years.  I assume by 5 years, I'll have a sizable portfolio, with a sizable net worth.  I will have a sizable network.  The size of my knowledge and learning will be even larger.  

That's what takes the fear away.  Learn.  Learn your butt off.  Acquire knowledge.  Then, act on the knowledge.  Be smart about it.  For, what happens without action?  Nothing.  What happens if you don't get your first deal?  Nothing.  How much money do you make without your first deal?  None.

Get your first deal under contract.  Get it funded.  Get to the closing table.  Pee your pants all the way through if you must, but do it.  Get it done.

Your future self will thank you for it.

Keep rockin'.

Yes.

Education, Psychology, Medical and Childcare.

I concur with all of the above.  Both of my fix and flips, and my single buy and hold have been from a local bank.  I put 20% down to purchase the property.  Rehab money came out of my own pocket.

The rates are tremendously good (between 5-12% lower than I've seen for any HML loan I've come across).

I've actually got an accountability partner and have joined a mastermind group as well.

Accountability is the key.  I want to proceed forward more rapidly than anyone I know.  I'm already 41.  I waited a looooooong time to get started.  Now that I've started, I'm not wasting any time.