OfflineHello family, today is the first day of the rest of my life. I have a desire to become a REI and I intend to make it a reality. This journal will seem slow or even boring to a lot of you but I'm writing this as a means to hold myself accountable and to stay on track. See I've been interested in REI since about 2002 and to date I have done nothing more than to purchase the home that my wife and I live in today. Don't get me wrong I don't look at that as a bad thing but I know there's more to be gotten. See I think it's easy for most people to purchase a home when they use the popular conventional means, but when you flip the coin on the other side and now it's up to you to do all of the leg work and speaking to people outside of your normal click things become a little more challenging. I've taken that fear away by talking to brokers, agents, lawyers, etc. Did I know what to say all the time ---no. Did I stumble over my words from time to time---yes. But that's where I got the confidence. First of all don't try to be something that you are not. I'm a new REI trying to get started in the business and I tell people that. It seems to relax me and lets them know from the start with whom they are dealing with. I ask a lot of questions, I even write them down so I don't for get to ask something. I've been taught and have taught my children that the only dumb question is the one you don't ask--- you'll probably never find the answer. See I told myself along time ago that I didn't want to work for anyone else for the rest of my life. Why? If they can do it so can I. This is not a get rich quick scam but, a workable system that if action is applied WILL work. My problem is I've been afraid to take action. I'm so accustomed to my "comfort zone" that I'm afraid to step out of the box. It's easy in here, I don't have to try anything new, I don't have to talk to anyone out side my normal click, just drag that same old ball and chain around day after day with my fingers crossed hoping that I'm not the next one to be laid off or fired for whatever reason the company can come up with. See here in Indiana we are an "AT WILL STATE", meaning that a person can be let go of their position or job pretty much with no real explanation. And on the flip side an employee can leave or not come back to work for whatever reason again with no explanation. All of this leads up to why I feel a little insane. Fear to move forward and remove myself from this seemingly "uncomfortable zone" has got to be a form of insanity. But I don't hold myself 100% accountable because I've been programed this way by family and society."Find a job, work hard, pay your bills, and try to save what you can for the future is what I was taught. So out of that 100% I'll assume about 50, only because I'm a man now and have the choice to change my out look on my life. That's why I named this "Leslie's Journal...My new Comfort Zone". My way will have it's trials, hurdles, leaps and bounds. All that I'm positive will lead to VICTORY!!!!! That one victory will make it all worth while. Kinda like working all week and getting that pay check, but I've heard an REI pay check is sweeter!!!!
lbrown
Success:
Stay true to one's self.
Utilize knowledge.
Commit yourself to greatness.
Conquer your fears.
Encourage others.
Stay focused and motivated.
See yourself and know your full potential.
Congratulations on starting and sharing your journal. Congratulations too on stepping out of your comfort zone by talking to agents, lawyers, etc.
I know what you mean about a 'job' but that is where most people's comfort level is. People are creatures of habit so we just need to teach ourselves new habits.
I wish you all the best and much success in REI.
Lea
SPR Property Solutions, LLC
Im also new to the DG family.Your story is inspirational as many that I have read on the DG site, I agree with you when you say that this is not a get rich quick scam. This system can work for anyone that is will to take direction and that has a burning desire to achieve success. There are a few things that you must first do, none of which ive done :} yet. But let me tell what i have done so far,I have almost finished both books. I have contacted Three real estate agents, these are folks that ive none for over five years and that are currently not doing so well in this current market. So as a result are open to trying some new things. They have sent me over two hundred listing's based on the spec's I have asked for, some of which are no private community's which have due's and other fee's which the current home owners cannot afford. So I have put together a buyer's list that came about by networking with some developers where I currently live. I currently have one deal pending which is my own property that I left because I thought it was going in forcloser. Anyway Im saying all this to say that success is not only possible but it is actual,just follow the directions/recepie-- One cup of reading all DG books. One cup of follow the steps he lays out. One cup of ask for help when needed, Bake for 12 months let cool and then share with friends and family doing the same thing.
2010 is a Must do year.
LawrenceM
SME Investment Properties LLC.
http://www.poconosolutions.usapropertywholesale.com
Congratulations for starting your journal it is a great way to keep yourself accountable and share your insight and knowledge with other DG Members. No matter what you share, is good because so many members can be going through the same thing and it is always good for members to relate and share their experiences. Try to do a little each day to get you closer to your goals and dreams. Information and learning will build confidence and confidence will help when taking action. You can do it! Good luck with real estate investing. Believe and Achieve!
- Joe
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Joe Jurek CPA
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Thanks for responding family, that means a lot to me. Today I continued reading Dean's and went back over my short and long term goals. My short term goals have been accomplished so now I get to set new ones. I plan on ordering Dean's new books tomorrow, I need to keep my motivation going. I possibly may have a deal that I can put together, I wrote on an earlier post about a property that I called on, it is tenant occupied and the owner wants to sell. Now that I have my car back up and running I can get by to talk to the owner face to face. I spoke to him on the phone back in December and at that time he didn't want to do seller financing. I want to see his reaction in person. If that doesn't work I'll have to come up with another strategy. The home is a single family 3 bedroom 1 bath on an unfinished basement. The owner is asking $25000.00. The home should appraise for at least $45 to 60,000.00. He said that the property is free and clear. I have to verify that and again check on the taxes. I will have a preliminary title search done also. The tenant currently pays $500.00 a month rent she has been in the home now for over a year, she has young children that attend school close to the home in the area. I think this would make a good first deal since the home is right next door to my dad's house. Keeping an eye on the property wouldn't be a problem. Again what I need to figure out is if I can't convince the owner to accept seller financing where will I get the $25000.00. I'm not looking to flip or assign the property so a HML wont work---I don't think. I want to keep the property cause I can use the income to assist in financing my own situation being that I'm the only income coming into my house hold and things are tight. Anyone have any suggestions? Another benefit would be that once the deal is completed and the property is in my name I now have an asset that can be used as leverage towards acquiring the next one. If all else fails I will use the assignment strategy and look at possibly holding onto the next one. My wife and I have spoke about it and her view is to get in and get out (assign) my view is get in and keep the monthly income. One way or another I want/need to put this deal together.
lbrown
Success:
Stay true to one's self.
Utilize knowledge.
Commit yourself to greatness.
Conquer your fears.
Encourage others.
Stay focused and motivated.
See yourself and know your full potential.
I am also trying to step out of my VERY uncomfortable comfort zone.
I have called one buyer, tried to get in touch with another but they did not get back to me.
Have started to call sellers.
It's never as intimidating as you imagine it will be.
Best of luck with REI.
Bob
Today was pretty good, I continued my required reading and while I was out and about I ran across three vacant properties. And of course as I do I copied the address and street numbers came home and went to work gathering information from the county Assessors site, eppraisal, zillow and cyber homes. I've found all of these to be very helpful. One of the properties is in tax default. I'm going to make an attempt to contact someone tomorrow. It may turn out to be a "Tax/Sheriff's sale property. I do this to make new contacts and it keeps me sharp as far as making "cold calls". The one thing that I wasn't able to do today that I spoke of in my last post was to order Dean's new books. I will, tomorrow is another day if GOD lets me wake up. Until then I have BARM to hold me until I do. And about that single family property I mentioned, I wasn't able to get in contact with the owner today, when I do, if he still wont accept "seller financing" then I think I will try to get it under contract using an "Agreement to Purchase, Purchase and Sale Agreement or a Land Contract. I'll have to re-read each before I contact the owner so I'll be confident when I present it to him. Any suggestion?
lbrown
Success:
Stay true to one's self.
Utilize knowledge.
Commit yourself to greatness.
Conquer your fears.
Encourage others.
Stay focused and motivated.
See yourself and know your full potential.