Posted by Ed Garcia on September 27, 2002 at 01:46:29:
When you tell us “I am looking to invest in rural communities of West Virginia, Maryland, and Virginia”, my first comment is that you should never invest more than an hours drive from your house. Especially if it’s a SFR.
My second comment for you is to go to a mortgage broker and get yourself pre-approved for a NOO loan. You mention that you’re cash poor but don’t give us any indication of your credit.
You tell us that you have been studying for about a year and a half and are cash poor due to seminars, boot camps, books, and training tapes and to ad insult to injury; you haven’t even learned how to do a deal with no money.
Please Jill, I don’t want you to think that I’m coming down on you but it is true that what you need is a check up from the neck up.
A little nicer way to say it is, you need someone to give you a reality check and help you put things into perspective.
Unfortunately, since it’s my mug at the top of the board, that leaves me to do the job. I’ll be in my office all weekend talking to people on the phone that are going to attend my workshop. Why don’t you call me at (909) 944-0199 and maybe I can spend a few minutes with you helping you sort out what you have already learned and then will convince you that what you need to do is to put your knowledge into ACTION.
Don’t feel like the lone Ranger, many new investors PROCRASTINATE and make excuses for not doing a deal out of FEAR. You say it’s the fact that you need money down, I fell that’s the excuse not the reason. The reason is because you don’t believe in yourself or what you’re doing and therefore don’t have enough confidence in yourself to carry through with what you have to do.
If I don’t hear from you over the weekend, I know it will be because this post has given you something to think about, because your problem is from with in.
Food for thought,