Quit Job… Check. Move Family Out of State… Check. Become a Full-Time Rockstar Investor in 8 Months…?

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I stepped onto the 6th floor of the Denver high-rise. It was my first day of my first real job fresh out of college. I sat down in my cool cubicle on my swively chair, dressed to the nines and ready to start my career. I had arrived… As the weeks rolled by it dawned on me that my goal through these years would be to work hard enough to get into the small office located directly behind me. The four walls and the window.
The extra 2 weeks vacation and another zero on my paycheck. There’s actually nothing wrong with this goal, if you enjoy your job and don’t mind the 9 to 5. But I wasn’t passionate about my work, and I wanted to have more control over my life. That day I became an entrepreneur… and the dream was born…

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It would take more than ten years to bring me to where I am today. Some of that time was absolutely necessary and brought invaluable insight, experience, education and maturity. I was also learning to combat the voices in my head that said, “you have to work like everyone else, because there’s no other responsible way to earn a living” and “if you don’t want to work like everyone else it’s because you’re lazy and ungrateful”. Along the way, I met my equally entrepreneurial husband, Aaron, who also happens to be really wonderful.

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Your Birth Story

So are those same rude voices holding you back? Here’s some things that have been really helpful to keep us going along the way.

1.) Address your Fears

Most of us have some amount of fear about this business: losing money, leaving a “stable” job and steady income, entering a career viewed by others as risky, etc. It is vitally important to address your fears. Seriously… if you don’t, they will affect your business and cloud your decision-making until you do. Oh, and by the way, your “stable” job might not be as stable as you think. My last job was working with people that felt like family and I was still dropped like a bad habit.

2.) Be Decisive

Do your homework, make your decision, and follow through. Find a different way to move forward if you are still stuck. Ask for advice on BiggerPockets, do further research, and if necessary, shift gears so that you are able to make the decision.

I would now like to introduce our amazing “Whiteboard”. You’ve probably never heard of it. Ours is white and really big. You write on it with a marker that wipes right off. Amazing, right? Ok, seriously though, this thing has been life changing for us. Usually it’s a pros/cons session: pick one question that you are struggling to answer like “Should I pursue real estate fix and flip investing?” Write it at the top of the board and list your pros and cons. Rank each pro and con 1 to 5 in order of importance, 5 being the highest and tally the scores. I know it seems silly and we’ve all heard of pros/cons lists, but give it a shot. It has been a HUGE help in getting the thoughts out of our head and in front of us in an organized way.

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3.) Balance Risk with Caution and Wisdom  

The majority of us pursuing this career are willing to take a risk. But are you also cautious and wise in making your decisions? If you aren’t, you risk losing a ton of money because it’s really easy to fudge the numbers to make a deal happen. Take a little off the rehab budget, add a little to the resale value, shave a little off your profit margin. Not a big deal, right? Yea, maybe not when you’re closing the sale, but a big heaping deal when you sell it.

Learn to be cautious or find a partner who is. If you’re on your own, make sure to check and recheck your numbers. Don’t let your emotions sway your decisions. In my marriage, I’m more of the risk taker and my husband is more cautious. Thankfully, I’m not running this business on my own; I would have already bought half the houses we were interested in… well, only one, because I would have lost all my money, freaked out and stuck with the 9 to 5.

4.) Don’t Be Intimidated by Experienced Investors

You know the type – big condescending words, an elitist air, a tone that says, “you silly new investor, so ignorant and impressionable, how will you ever learn?” Just one such investor can make you think you are so different than a career investor and you don’t have what it takes. I’ve got news for you – IT’S NOT TRUE.

They were “newbies” once, too, and they are no different than you. What HAS set them apart from investors that don’t make it is hard work, perseverance and creative, wise decision-making. That’s it, learn those tactics and you/I have a good chance at being successful, too. AND, luckily, the vast majority of experienced investors on BiggerPockets are not that type. They are genuine, humble and REALLY helpful. They are willing to give their time, unpaid, and lend their expertise to us; what an amazing resource!

The Crazy Plan

I currently live in beautiful Santa Cruz, CA where the weather is eternally perfect and every beach is a toss up between the most beautiful and the most surf-able. Aaron is a corporate pilot and I’m a stay at home mom. We split time on the investing business when Aaron’s home. And our kids… well, they’re just really cute… and extremely energetic.

Santa Cruz has a high cost of living and we are blessed that Aaron’s job pays our living expenses. However, the past two years have basically been HELL. We don’t have parents in the area and my husband travels ALL.THE.TIME. Our daughter started asking a year ago “when is daddy coming home”, “why is daddy always gone” and through tears “I just wish daddy could be here”. IT SUCKS.  

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So, fast-forward to 3 months ago. We decided TO GO COLD TURKEY.

We have NEVER actually flipped a house, but we are moving our family to Colorado where I’m from and are not pursuing an income other than real estate investing. Wait… what?! We are launching a massive marketing campaign to motivated absentee owners and we’re just. going. to. make. it. happen. Not a slow easing in sort of transition. COLD TURKEY.

You’re crazy, you say.

You’ve lost your mind.

Irresponsible, foolish, careless, stupid…

Nothing I haven’t heard or seen in the reaction on people’s faces. But the thing is… I DON’T CARE. We only get one life and it isn’t very long. I am totally burned out with my current situation and I’d rather be the idiot who chased after my dream and failed than the person who stays in a job that is sucking the life out of them. As Willie (Duck Dynasty) says, “The only investments guaranteed not to pay off are the ones you never make.”

Ok, that was my brave speech, how did it go?? Here’s the other side: I’m FREAKING terrified, I’ve got 2 small kids, I’m moving back in with my parents, and I must be totally crazy!!! Ok, done…

So, now it’s your turn… jump on board, quit your job and GO FOR IT with us!!! Real estate investing is easy and you’ll make money really fast… Before you know it you’ll be backpacking in the Andes while your rental income magically deposits tons of cash into your account every month. Wait just a second. It might appear that we’re just “going for it” without experience, education or a plan, but we’re not. So before you put in your resignation and move into my parents’ basement with us, allow me to elaborate.

My husband has been a real estate broker for several years and can estimate the value of a house with the best of them. My background is in architecture and construction management. I have managed several million dollar commercial rehab projects with 3-month time constraints. We’ve been in and out of escrow a few times as we’ve tried to jumpstart our investing career using the MLS in this area. We’ve learned a ton from our mistakes and experiences. Most importantly, we have set aside eight months of living expenses and my husband has a strong pilot resume if needed (and hopefully it won’t be).

But don’t despair; you’re not going to need years of experience and education if you don’t already have them. Just work really hard, gain a firm understanding of what you’re doing and build your business over time while you still have a job. Then set another timeline: the “When I Have Replaced my Income” timeline.

Your “Hopefully Not as Crazy” Plan

1.) Set a Realistic Education Timeline  pic 4

Not too short, not too long, depending on your time availability. If you don’t set a timeline, you will be in perpetual education mode. So set a goal… or just be really desperate to get out of your current situation, like us, and then you don’t even need a timeline. You’ll just cram every piece of information into your brain as quickly as you possibly can.

2.) Don’t Forget to Research the Back End of the Process

If you’re planning to use marketing for your business and only research that part and dive in, you’re gonna end up in trouble. Once you do get a lead, the process moves really fast. If you don’t understand how to estimate the after repair value, rehab costs, and offer price you will end up paying too much for the house, overspending on the rehab, selling the house for less than you expected and losing your shirt or (even worse) someone else’s in the process. Not good… make sure you have a good sense of what you’re doing before you start and use the investment calculators on  BiggerPockets  to help you.

 

3.) Study Experts in Your Specific Business

Stalk the experts (not felony-style) on BP, read their blogs, look up their forum posts, study their websites, read their books. Learn as much as you can from them. Get a comprehensive book that is specific to your business; if you’re a rehabber get the book “FLIP: How to Find, Flip and Sell Houses for Profit” by Clay Davis and Rick Villani or “The Book on Flipping Houses” by J Scott (here on BP).

4.) Don’t Worry About the Money

If you don’t already have it, don’t be scared about raising capital. Aaron’s parents happen to be our main money partners, but you’d be surprised how many potential money partners we’ve met along the way. Start attending your REIA meetings and network with people on BP who are in your area. If your money partners don’t have enough capital to do the entire deal, line up a hard money lender. In our case, finding and setting up the hard money lender was really easy. Hard money can be a good way to get your foot in the door but not necessarily for the long-term.

Follow the Journey

You know when you pass a car wreck and you can’t stop looking? Let our mistakes be your car wreck as you continue to follow our journey. Wouldn’t it be cool if you didn’t make the same mistakes when it’s your money on the line? Follow us as we detail our decisions and what we are learning. It’s an entirely thrilling adventure, this life, isn’t it?

Comments? Suggestions? Where are you at in your journey? What is holding you back at this point? Leave your answers in the comment section.

About Author

Amanda Fox

Amanda and her husband Aaron went cold turkey from their day job and entered the world of full-time real estate investing in August 2013. When she's not marketing for or fixing up houses she loves hiking, softball and hanging out with Aaron and her two little people.

63 Comments

  1. Douglas Dowell on

    Any plan that involves moving to Colorado is destined to succeed :))

    I loved your point about focus in on the result you want is a turning point. When you realize that you just need to repeat the steps someone else did…its just a matter of time before you break through at get the same result.

    I look foreword to following your journey to greatness!!

      • Hah, Ben so funny!! Unfortunately, though, we’ve LOVED living in Santa Cruz. You can’t beat the weather and I’m going to miss the diversity and the beaches – are you kidding me?!! And thanks about the hutzpa. 🙂 It helped when I realized I’d rather fail and end up in Japan with my husband flying for the Japanese Airlines than stay in our current situation! 🙂

    • Great advice, thanks Douglas!! Its terrifying in a lot of way, I really appreciate your comment about just repeating the steps others have taken. That’s the path we’re on and it definitely helps to have the encouragement especially before we’ve bought our first house!

      • I think it’s awesome Amanda, you are taking control of your present life and future, sounds like you and your husband have a magical business relationship and you have 2 great kids that you want to be examples for as well and spend as much time with. Time does fly so rock it!! My husband and I are going Bonsai as well and relocated to Ky. ( Everyone asks the question, why Ky. from the Bay Area?) I have to agree with Ben, not that Cali. isn’t amazing, however people are meant to travel and move forward and we can always come back 🙂 I look forward to following your adventure. Thanks for sharing your story.

        • I love that, Bonsai! Thank you for your encouraging words. How has it been so far for you guys? Did you move to be near family too? And I totally agree, if you are stuck or stagnant moving something big in your life is sometimes a really good remedy! We hope it is for us as it has been for you guys. Keep us posted!!

  2. Hi Amanda. I enjoyed reading this article and can relate to what you are saying.

    I am on a similar journey to do real estate wholesaling because its my passion. I am desperate at this point because I have been laid off and on a fixed income. I get interviews, but do not get job offers. I keep telling myself if I were to obtain employment would I be truly happy working a 9 to 5 for someone else? The clock is ticking and I am not getting any younger. We are here for a short time, and need to do what makes up happy.

    So I am on this real estate wholesaling journey to be successful and be self employed. So I am getting ready to spread my wings and fly away…I’m not looking back and second guessing myself, anymore. Enough “analysis paralysis”. Its time to take action, and make my dream in this field to become financially independent a reality!

    Great Article!

    Sharon Jones

    • Oh my gosh, Sharon, good luck to you!!! I feel like we should stay in contact to continue to encourage each other. 🙂 Wanted to ask you, do you have a financial cushion built up or money to put into marketing for your wholesaling business? If not, unfortunately, it may be a better idea to totally pour yourself into getting a job and working like crazy on your off times and lunch breaks to make your wholesaling business happen. If you do have a financial cushion, go for it!!! 🙂

      • Hi Amanda,

        I only have about a $100 to spare on marketing a month to find real estate wholesale deals. I am back staying with my parents in their basement. I only have myself to take care of – no one else. I do not have any bills or pressing debt to take care of at this time…Thank God!

        I am still trying to find employment and simultaneously do real estate wholesaling…
        I am thinking about joining a real estate club in the area soon as possible to network with others and not travel this journey alone. This will also keep my spirits up!

        • I think the real estate club could be a REALLY helpful idea. It could be really beneficial to grow relationships with people you can journey with!! Sounds really good too to keep looking for employment at the same time as it may take a while to build the wholesaling business.

  3. I have an 8’x4′ whiteboard on the wall in my living room! For now, that is. I’m taking the plunge and buying a triplex that should close in a week or two!

    I grew up in Colorado too, but I live in Indianapolis now. Love your points about setting a timeline. I tend to fill up my whiteboard with ideas and struggle with the details of actually getting moving on any of them. It’s especially hard because I love learning, so I’d be happy in the education phase forever!

    • Ooh, yeah, that’s tricky Lindsay! But… you’re closing on your first house, that’s amazing!! I’m guessing you’ll realize that actually buying and selling (or holding onto) houses is way more fun and exhilerating (and an even better learning environment) than the learning phase and you’ll continue to gain momentum – good luck! (oh and small world. I was actually born in Indianapolis and lived in West Lafayette for 13 years before my family moved to Boulder. 🙂 )

  4. Love it!

    I moved by myself from Illinois to Dallas when I was 20 to pursue real estate. I got my real estate license and worked under someone for a little less than a year before I started my LLC, and it sure has been a journey. January will be the 2 year mark for me, and through the ups and downs, I love it. My biggest issue is keeping my head up through the slow times. Im sure you both will do great!

  5. Amanda,

    Welcome to Bigger Pockets and I must tell you that I admire your goals and your article. If you have not read our story, you should, it might help to inspire you. We started very similar to you in that we went all in from day 1. We had nothing except credit cards, a ton of debt and fierce determination. Now we have done over 130 deals and counting on the past 5 years. We are on track for over 50 this year alone. We did a podcast a few months back here on BP that was well received also that you might enjoy and get some good info from. If you would like to speak to me personally at all for any suggestions or coaching I would be more than happy to help as I relate to your situation. My only requirement is that you take action and not just talk about it.

    On our 3rd deal, (which we netted $33K in 2 months) Amber and I did all the work ourselves and when we were selling at the open house a neighbor in her late 70’s walked in after watching us work like dogs for 33 days, and in her grandmother voice said, “Do you know what you two have?” I said, “No, what?” to which she said, “You two have balls!” Nothing funnier than the word “balls” coming out of a grandmother’s mouth in that context! But that comment never left my mind and I must say that you and your husband seem to have the same idea going on. I am not one to offer my time easily as I have a busy schedule with family and business but your article inspired me to reach out, no strings attached. Have a great day!

  6. Kevin, what an inspiring story!!! Perseverance and continuing to have hope have been our biggest issue too. I’m convinced though, that one ingredient to other people’s success is persevering through those times when everyone else gives up. After 2 straight years of researching 100’s of homes, being in and out of escrow 6 times and NEVER buying a house we keep going and I hope you do too!!! Don’t give up and the momentum will eventually start to carry itself (hopefully, right?!). Wanted to say too that Aaron, my husband, built his real estate career (alongside being a pilot) for several years, did cold calls, door knocking you name it and it did takes years to finally build momentum. But what finally worked was working with friends and family. His business exploded through that network when all the other options never panned out. He just sent out a regular newsletter to our personal contacts and when they eventually needed a realtor he was the one they called because they already knew they trusted him. Good Luck!!!

  7. First I’m excited for you, and congratulate you on moving forward!

    Can you share your plan on what your going to do to aggressively find motivated sellers?

    Thanks,
    Adam

    • Hi, Adam, thanks for the encouragement! In next month’s post I’m going to detail our plan thoroughly, but basically we’re going to implement a 5 part marketing plan: direct mail, drive for dollars, bandit signs, network with wholesalers, and internet marketing. We are working on and rolling out 1 strategy at a time and have the 1st direct mail letter heading out this week. We found our direct mailer on Elance, btw, she’s been amazing and a ton cheaper than the mailing houses. Where are you at in your journey??

      • Hi Amanda,

        Funny you should ask where I’m at. I got really excited when I read your article, because I feel like I am at a very similar place as you. I haven’t made up my mind to quit my job as a CRM consultant yet, because I wanted to build my pipeline of leads first.

        I built my website about a month ago, and started my pay per click campaign. I just bought my list of home owners, and pre paid for 4 months of Direct Mail. Just now when I got your reply, I was going to work on ordering the bandit signs. I contacted an old employee from my last business, and they wanted the extra work.

        I’ve been a RE agent for 10 years now on the side, so I just made a few custom contracts, and talked with a friend who is a lawyer. Trying to take one more step forward each day. I’m getting married in late October, and I was hoping that I get something substantial going, so that I don’t have to drive to Los Angeles every week.

        Special thanks to the people on this site who don’t really understand how much they have helped me. Danny J, Karen R, Sharon V, Brandon T, and Glenn S….You Guys Rock!

        Thanks,
        Adam

        P.S If you have any questions, or want to bounce any ideas around my email is [email protected]

        • Thanks Adam, glad we could be of help to you. Thinking and planning about success is fine but will get you nowhere. Remember, Action=Results but Massive Action=Massive Results. Have a great journey!

        • Update, right after I wrote you about not knowing if I should quit my CRM job….I learned my contract is at years end and I have 2 more months of work left.

          Early yesterday morning I was hoping that I could quit my job in 3 months, but now that it’s ending I got a little worried last night. Could I make it, what about my safety net?

          It’s funny when I wasn’t worried and could still make logical decisions, it seemed like a good idea…but I’m still worried. I feel like God or the universe is giving me a sign.

          I now have PPC campaign going, 4 months of mailers bought, 300 bandit signs ordered, and I’m on the way to the title company to get even more leads, to mail more people. Do I just pull the pin from the grenade and toss it? I feel like I’m being a drama queen….haha

        • Adam,

          I totally missed your most recent comment until right now. That is SO crazy that your job is ending so soon! Could you continue to ramp up your real estate business at the same time that you dive into the investing? Do you have a financial cushion to carry you for a few months? Do you have capital to invest? The reason why I ask is I think your answer to those questions might tell you whether to pour your energy into finding other employment or boosting your real estate business, if that’s an option, or if you are ready to dive fully into investing without other employment. I’ve realized about our own business for a long time that if we jumped the gun too soon it may take away our one really good chance to make it (hopefully we’re not doing that now!) Keep me posted, I’m so curious now what you’re going to decide!

  8. Love this article!! I think people were not built to sit in front of a computer at a desk for 40+ hours a week. It’s clear from hard facts of health declining, but also, when do you ever hear anyone say the LOVE their desk job?? The truth is, most people are going to end up at a desk for so many of the reasons that Amanda pointed out. I love this article because it gives me hope and courage in seeing them go for it in the face of skeptic voices, and also their own honest worries about the unknown and taking this big risk. She’s right, life is short and it’s better to pursue your dreams and an go against all norms to fight for the life you want. I’m definitely afraid about the risks it would involve in my work situation, but this article gives me hope that there’s people that have done it and are going for it!

    • Thanks for the encouragement, Alice!! It’s so true that the standard work environment in this country is pretty out of whack, but I know there are many people who are passionate enough about their work to justify the 9 to 5. But if you aren’t and you have a good head on your shoulders there is no reason why you shouldn’t be able to take steps toward a different goal, whether it be sailing around the world or just working in a field you truly are passionate about. Good luck and keep us posted!

  9. Amanda,

    Thank you for the inspirational message. My wife and I also jumped in with both feet last August by retiring our computer business after 20 years as we have slowly been building a small rental portfolio. We decided to take the plunge after our first grandson was born and learned that our 23 year old twin boys were both going to be laid-off from there jobs in less than a year so we wanted to build a family real estate business and pool all of our talents together. The biggest obstacles we have faced is from within ourselves-by doubting, questioning and analysis paralysis. So it is always appreciated when we hear others that decided to “Just Go For It”. Thanks again for sharing.

    • Wow, Nick, I am so excited for you and your family! I hope you continue to work through your fears and doubts. Its been really helpful to us to bring them to the surface and really talk about them with each other. What an amazing legacy you are leaving for kids and grandkids to be brave (and wise 🙂 ) in pursuing their own dreams. Please keep us posted as you continue to work through your fears and we become rockstar investors together!!

  10. Amanda,
    I was excited when I saw the headline of your post because I am 7 months into doing the exact same thing (without the geographical move.) I was with a large corporation for 20 years and in the last year or so I was using your exact words – it was “sucking the life out of me.” I had a decent sized retirement plan to fall back on and just decided to go for it. My husband and I have been rehabbing part time for 10 years. I have made valuable contacts in that time, I have plenty of private money lenders and when I saw the market turning, I decided it was now or never since I’m not getting any younger 🙂 I haven’t progressed as quickly as I wanted but lots of positive things are happening and I’m very optimistic that I won’t have to return to an employer – ever! I can’t wait to hear how your journey goes!

  11. Seth Hensinger on

    Great article. I enjoyed reading it and hope the best for you, Aaron and the little ones! I’m from Indiana, and am still here actually! I’m about 30 minutes from Fort Wayne, or 3-4 hours from Indy haha

    I don’t have a plan as speedily ambitious as yours but I’m aiming high as well. I’m working at a factory and saving everything I can so I can buy and hold places to eventually match and exceed my factory income in passive cashflow. I’m just starting at 19 though, and I hope to be out by 25 at the latest.

    Best of luck in your endeavors and don’t forget to update us here on BP!

  12. Hi Amanda,
    Since your husband has a broker’s license, that would be something valuable to fall back on too wouldn’t it? Brokering real estate is not something you guys want to do? Why?

    Great article, thanks.

    • Good point, Leo! I think we feel that if the flipping business doesn’t work out, flying would be an instant paycheck and it could take years to build up his clientele as a broker in a new state. Aaron has represented many clients over the years and loves working with people. However, we especially love working on our own deals and truth be told being a broker was just the “lesser of two evils”. He still was at the whim of someone else’s schedule. Even if it was 4pm, if a client wanted to see a house during dinner time that evening he would have to do it. He would get phone calls at 11pm on a Sunday, etc. etc. Maybe its partly that we were already so burnt out by his flying schedule, but either way it just isn’t the path for us. And, the other big AND, is I LOVE this business, too. I am passionate about rehabbing old spaces; I loved that part of my old job. I love to be challenged in other ways than being a stay-at-home mom. We want a business that we can both work on and both be passionate about.

      Where are you at in your journey, Leo?

  13. Kudos Amanda on getting out your dreams. I’m still nervous about quitting my 9-5. Once I feel confident in my knowledge and execution of my core REI strategies then I will attempt my exit.

  14. Amanda,

    Continued conversation from above.

    “Do you have a financial cushion to carry you for a few months?”
    I didnt realize this but with a $2000 month marketing budget added to my expenses, I have 21 months of savings before I hit 0. However, I don’t necessarily want to wipe out my savings. I think of savings as power to make choices…job, business, life in general

    “Do you have capital to invest?”
    I do, but I would rather use hard money, not exactly sure how this is going to work. I’m a part time RE agent, and my broker/friend flipped 40 homes last year. I was thinking I might wholesale a few properties to him for some quick cash. He is running dry now, because he bought auction homes, REO, and short sales and those are drying up in my market because its hot hot hot right now. The thing I’m concerned with is that even if I found 2-3 properties right away, it would still take 6 months to flip them and get my paycheck.

    A huge victory for me would be to convert 7-8 of these motivated sellers into Realtor sales…the ones that obviously aren’t interested in the price I give. I asked Karen about this because she runs a brokerage as well, and she said this is a VERY GOOD secondary option. And why not? If you get 50 somewhat motivated sellers calling you and only 1 is right for a deal, what are you going to do with the other 49? If the phone rings anyway, is their much difference between a realtor sales vs a wholesale?

    ” I’ve realized about our own business for a long time that if we jumped the gun too soon it may take away our one really good chance to make it ”
    I think I’m jumping the gun a little, I would like to have had a running start before I quit my job. It would have been nice to be 1/2 thru a flip, see the leads coming in steady, and know what kind of potential is out there.

    I think as a Plan B, I have 2 more months of work, and then I will do this full time for 4 months unemployed. Go 110% until then, and then do an evaluation of where I’m at 6 months ago. Worst case is that I get a lot of experience and hopefully leads, and then I can formulate a plan to do it part time…which I was going to do in the beginning.

    I’ve been in this situation a few times now in my life with starting businesses, and even having a customer file bankruptcy (another business) and lose everything. The best advice I can give you is have a plan B, plan C…and Plan D ready. Once you get the wheel turning, you don’t want to have to stop it for any reason.

    P.S you must have wrote an inspiring piece because I have never seen so many great comments.

    Thanks,
    Adam

    • Glenn Schworm

      Hey Adam,

      I read your comment to Amanda and while I understand where it is coming from, I must say….with all due repeat…screw plan B! 🙂 I say that to you, Amanda or anyone who reads this comment because in my opinion after 25 years as a business owner, there is nothing more powerful then having a venture that HAS to work. When you have a fall back plan it is just to easy to do just that…fall back on it. When the going gets tough, the tough dig in and get going, but others fall back to plan B,C,D, and remain in their same lot in life forever, blaming all sort of circumstances on it. When the true reason for failure or success is staring each of us in the face at the mirror every day. Having a fall back plan is like getting married while having your second wife all lined up! I truly mean no disrespect to your comment, I know it was written from the heart, but I say if you are going to go all in and have made a decision like Amanda and her husband have made, then by all mean, GO FOR IT and don’t look back! I wrote in my last article, when you work hard and go BOLDLY in the direction of your dreams, strange and mighty forces will come to your aid. I am living proof of it. When you have no other options you will exhaust all you have to make this one work, and it is then that most of us find true success.

      Glenn

      • Glenn,
        I can’t tell you how much your comment on this meant to me. I replied to someone else’s post earlier today that failure isn’t an option for me since I quit my 20 year corporate job to go full time with real estate investing in January. I did have a plan B in mind but I don’t really consider it an option. I WILL make this work. You are an inspiration, thanks!

      • Definitely inspirational! I will talk no more of Plan B! A funny quote just came to my mind.

        “We are not retreating, we are advancing in another direction.” General Patton

  15. Wow, I leave for a few hours (for our going away party) and the comments have blown up! Adam, you really do sound like you’re in a really good position right now, definitely helps! I’m so hopeful for you!!

    And Glenn, I’m so inspired by your comment! I think you hear of so many stories of people who end up bankrupt or hardworking people who lose their jobs and end up nearly or completely homeless and its scary. You start to feel like you need a Plan B, Plan C, etc. And you feel like when you’re talking to others that you have to sound like you have a solid backup to your screwy Plan A option. 🙂 Anyway, SO appreciate the kick in the butt from someone on the other side!!

    • Amanda, Ya I feel the same way in regards to your 2nd paragraph.

      Glenn, my market has been one of the most volatile in the nation over the last 7 years. It’s now super hot again (I heard at one point we had the 2nd lowest days on market in the US, and before that the most days on market).

      I’m sure there are always deals out there, I see investing kind of like a pendulum. It might be much harder to find deals, but much easier to sell those properties when I do find them.

      Is their any advice you can give about marketing in a hot market??? I feel like some of the people saying they are marketing and getting a lot of calls but no deals, are not following up like they should.

      (here are some sales stats…think I got these from Salesforce.com)
      The average company makes 1.5 call attempts
      The average company takes 44 hours to respond to a lead
      55% of companies Don’t respond at all.
      44% of sales reps quit after 1st rejection
      22% after 2nd rejection
      14% after 3rd
      12% after the 4th

      • Glenn Schworm

        Adam,

        Honestly I have no idea about the difference of marketing in a hot market. We started in 2007 when everyone was saying to run for the hills, so all we have known is the tough market. Still have done 130+ deals and counting, so it works. My advice would be to market like crazy and be the best at following up. I did an article not too long ago here on BP about just that, follow up is key. I forgot the title but check out my articles to see it. What sets us apart from everyone else is great follow up. It may take weeks, months or years, but if you d it right, your pipeline will always be getting filled and deals will be popping out of the other end. Hot market or not, speed and follow up is the key, in my humble opinion. Hope that helps guys!

  16. Wow, Amanda, your post was just what I needed to get me back on track – especially the parts about addressing your fears. Right now I’m live with nice people, but they don’t have a vision and aren’t go-getters. I let the negativity get to me.

    The things you wrote re-inspired me, though. Thanks for the encouragement. Now that I’ve found this site I plan to visit daily to spend time with people with a vision. I also plan to check your web site out.

    By the way; don’t know if it matters, but my main business focus is art, not real estate. However, I am also drawn to rehabbing. I love the idea of taking an old, worn down house and making it beautiful again. I would love to do this as a side business.

    • Welcome to Bigger Pockets Brunhilda!

      You can find an amazing wealth of information on Bigger Pockets and plenty of vision and encouragement. I’ve learned that I can find specific answers to my questions by searching keywords in the forum section and learn amazing general information by looking through the blogs and podcasts. Oh and I thought of the book, Hinds’ Feet on High Places for you too. Its an amazing allegory about people holding you down and rising above the negativity. Its a christian book, but even if you aren’t it has a really great positive message for anyone, I think.
      Good luck!!

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