I must confess!

There have been hundreds, heck probably thousands who have been exactly where you are - feeling overwhelmed and like everything is so far out of reach. It is really isn't. You need to break these things into smaller goals. If you can go out and hit a homerun right away, more power to you. But, almost everyone has to make it a work in progress.

If you are worried about the money and what you could have done with it elsewhere in REI, it is a legitimate thought to have. However, I've read way to many stories about people just jumping in head first trying to force their REI career without the proper knowledge or people to guide them and ended up losing that and much more on a bad deal.

Wholesaling is still prime right now IMO, and that doesn't require any money. If you wanted to go the rental route or flipping then cash is a consideration, but that is route where the rewards are reaped over the course of years and not as quickly and as trouble free as wholesaling.

All you have to do is search the forums and you will see so many of the deal makers and now seasoned investors where right where you are and asking the same questions.

I wouldn't give up. Maybe rethink your strategy, or your action steps. Maybe ask for a new instructor who you think might be more in tune with your style, pace and goals. You are going to be the one who finds the best deals IMO, not anyone else. Other people, like the coaches, can help you determine which are viable and which to not put the energy into, but locating the list of prospects is not actually hard, but it needs a local individual who knows the area to really find the gems. Why? Anyone can pull a list of foreclosures. The real gold is that FSBO sign you see when you drive by. Or, a house that looks vacant and it has just been sitting without being listed for sale.

Those "you got to be kidding me" deals often come from a property that only you have tried to acquire because it wasn't out there in the MLS, or on foreclosure lists, etc. But you become rewarded for doing the thing not everyone and their brother can do and that is grabbing something off a list.

Don't get me wrong, you can hunt bank lists and kill it. Plenty have and continue to. But some of the greatest successes have been doing wholesale by being the local home "detective".

Don't give up. If you've come this far you are serious. It just sounds like you might need to rethink what strategy is best for you, how to do tackle it, and how to work more towards seeing results instead of just hitting the books so you have something tangible to keep you going. This may even mean continuing with another coach that fits you better.

Have you networked with any people local in your area? That is a good source to start incorporating locale specific information and prospects into your sessions so you can start dialing in directly on what is applicable to you and your area.

Keep us posted!

-DGadmin

Dont quit! I was right where you are now nearly 2 years ago! Information overload for sure. What struck me was that you said you are not going out driving around anymore....and thats exactly what you need to be doing. Thats the action step!! Looking for those deals! They are not going to come from the pages of a book or the online lessons. These give you the knowledge to make it happen, but its the action that brings it to reality! I too spent hours studying (and the education center you have now is lightyears ahead of what I had, by the way) and thats good! But since you feel stuck now is the time to change course a bit...get back out there looking...drive around, read the papers, search mls.....study your own target market! Coaches and lessons can help you know if the numbers work when you find a potential deal...but you have to be the one to know the value of the area you are looking for as far as your end goal....flipping, wholesaling, renting...whatever. Do you have a realtor that can send you a list of all home that were SOLD in your target area for the last 6 months? Thats a super important start...then you can have a starting point for running your numbers when you find deals. You are doing great!!! Please dont quit! Call the coaches and talk to them...thats what they are there for! I made my cost of the academy back 3 times over on my first deal...YOU CAN DO THIS!

Baria,

I agree with Laura and Dean. Get back out looking for properties. Whatever you have to do, if you don't pick up a book or listen to one of the lessons for two weeks, get back out there and look for properties, especially the FSBOs and vacant properties. I even created a thread about tips to quickly identify a potentially-vacant property, if you want to read it.

When I started going out to hunt for properties, I felt light years better because I was doing something tangible and active. So much of this game requires doing something active, because there is so much real estate investing information that you can drown in it! Ever heard the phrase "Drowning in information, starving for knowledge"? I think we all go through that. Look at my profile and you can see that we've been doing this slowly and diligently for 10 months now. It can take time, but PLEASE do not give up. Do not worry about learning all the fields of real estate. If it doesn't have to do with wholesaling (assigning) properties, don't focus on it for right now. Pursue success in one area, and that success will propel you forward from there to learn more BECAUSE THEN YOU HAVE SEEN THE REWARD!

Have you connected with other investors? Have you found a real estate club? (Can't say enough about 'em!) Have you read some of the member journals of the other investors (real people like you and me) here on DG.com?

If you've been studying and reading real estate 4-7 hours a night for a month, I think you have a good enough foundation for now to get out there and start DOING!

I know you still want to do this; that's why you came hear and asked us for help instead of just walking away without a word. Hang in there and I await hearing your response!

Vincent

Thank you so much everyone for encouraging me to hang in there. That is what i decided to do for now. I'm sitting on $50,000.00 cash and 230,000.00 loan i just got approved for but i just couldn't find the ideal property i could invest on. I will keep looking until i find my first.
Again, i thank you a million times for taking your time to encourage me.

Baria

You're welcome, Baria!

And definitely get back to making time for driving neighborhoods. I have a township map and I look it over and find a neighborhood I want to drive through that day. Come back to this post and let us know how you're doing and how you're feeling. Focus your resources on assigning contracts, networking with people, and making contacts with other investors!

Look at it this way, if you can build your stock of cash by doing some assignments and bring your cash in hand up to $100K or so, then you can focus on even buying a property for cash further down the line.

Vincent

With that money, it is more than enough to begin your first deal. There are homes out there based on location that you can acquire for below $50K and resell for a profit. You have what it takes to make your first deal happen. Take action and you will be surprised. God Bless.

Sandra

It took over 6 months to close my first deal, then I closed 10 in four months. I went though the success academy AND STILL USE THEM TO THIS DAY

WELL PUT DGadmin! You have given our partner many little "nuggets" with which to build a solid foundation.....DO NOT GIVE UP! Move onward, forward, upward.....your day will come when you will soar with the eagles. (do you think they could soar like that the first time they attempted to fly?)

Thanks for your encouraging post to Baria. I really liked your bible verse as your signature so went to biblegateway.com to see what version that was; and couldnt get past Matthew 1:24...(couldnt get to a verse 49-53)...so I was just trying to confirm your signature verse(Matthew 1:?) because I really liked it..

Hey West,

Thank you! Mary's Magnificat is one of my favorite scriptures. They did a great portrayal of it in "The Nativity Story". I've even used it as a Facebook status.

I found it very applicable to everyone here on DG.com, people coming from humble states (job loss, foreclosure, homelessness), some even struggling to provide for themselves and their families. Faith in God and patience help keep me plugging forward when it seems like I'll never get anywhere with this.

The Scripture includes parts of verses 49 to 53, that's why I put a "-" between them.

Vincent

Thank you again all for your support. It was easy for me to walk out and leave everything on the air but with all your support and encouragment, i was able to make an offer on two properties and waiting for answer. I will let you know as soon as i hear anything. I had never thought i would get encouragment from people i never met before, but you guys made a difference in MY LIFE. For that, i thank everyone from the bottom of my heart.

Baria

So glad to hear you've put in offers!! Thats fantastic....please keep us informed of how things go...and remember....you usually have to get a good number of 'no's before you get that YES. So no matter what - remember each step you take teaches more, gives you more confidence, more experience and always closer to your goals!

B,
The idea of you facing your doubts, stating them and then moving foward and leaving them behind motivates and inspires me. Thank you for you and the good example!

Scott

B,
The idea of you facing your doubts, stating them and then moving foward and leaving them behind motivates and inspires me. Thank you for you and the good example!

Scott

Thanks Scott and Laura for your comment. I will let you know as soon as i hear something with my offer.
Baria