OfflineI just finished reading Profit From Real Estate Right Now!. I'm convinced that I want to be a real estate investor. I know I shouldn't be dwelling on my problems, I would just like a little guidance. I have a $130,000 mortgage on a house that is now worth $95,000, medical bills, two kids under the age of 1 and a half, and about $16,000 in credit card debt I incurred buying nothing but essentials for my family. I have to work 65 hours a week just to barely make all my minimum payments, I just have so little time, because if I take a day off work, I miss one of my payments. What should be my next step? Sorry if this sounds whiney, that's not me, I just hoped someone may be able to give me a push in the right direction. Thanks.
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Just start taking baby steps in the right direction then! First thing you'll want to do is build a buyers list. Don't worry about anything else besides getting that done, and before you know it you'll be well on your way to doing other action steps too!
Place free ads on craigslist and the other free sites stating you have X property for sale for Y price (make it a good deal
) and then put your phone number on it. When people call, just state that you just found a buyer for it, and that you frequently come across discounted properties. Then ask if its okay to get their contact information, so you can call them when you come across another one.
Make a database of all these names, contact info, and criteria of properties they want. Built it up to 20+ buyers (preferably cash buyers) and start to find some desperate sellers, make lowball offers on their property and hope it gets accepted (on average 1 out of 25 lowball offers does). Then just connect them for, lets say, $10,000.00 ??
Dean has a video blog about "Kaizen". It's about making small steps toward something, instead of trying to do it all at once. As soon as you start taking action you'll learn more than you can imagine.
Heres a link: http://www.deangraziosi.com/content/weekly-video-blog-42-one-small-step-...
Hope this helps! I recommend going back and watching all the blogs, they are very inspiring and have good information!
Dominic
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I hope all is going well! Don't give up, just keep going at it and something will happen! I hope you had the chance to read my reply.
Good luck on everything!
Dominic
Are you new? Check out my NEW and IMPROVED Guide for Beginners! http://deangraziosi.com/real-estate-forums/everything-else/128413/domini...
Just a thought, have your other half do the necessary research while you are at work which will help you take those first steps. Unless your other half is putting in the same hours as you.
Thanks, I put up some ads on craigslist and a couple other sites and have had 3 people email me so far, so I'm cheking on their ability to qualify for loans. Hopefully they'll be the start of my buyers list. I appreciate your help.