Posted by AW on July 15, 2001 at 15:35:19:
correct email is threeofus@mr-potatohead.com
sorry for the mistake
finding the time. - Posted by AW
Posted by AW on July 15, 2001 at 15:25:39:
I have been trying to break in to re investing for what seems like for ever. I have a familiar story that most everyone has heard before. I have wife, a two year old daughter and a 50hr plus a week j.o.b that is sucking the life out of me but is paying the bills. My wife works full time and we are working to get buy for the most part. I can’t seem to find or make time to move forward with re investing with all of the other resposibilties that everyday life brings to the table. Can anyone offer any suggestions, articles to read… I am stuck in a what seems to be a very deep rut and I don’t were to begin. Thanks for the time who ever reads this.
Re: finding the time. - Posted by SteveC_GA
Posted by SteveC_GA on July 17, 2001 at 08:31:34:
AW,
I used to think the same way. You see, I fly airplanes full-time for the AF. I work 40-50 hours per week (when I’m at home), have 2 kids and a demanding wife…LOL. Plus, I’m physically gone from home 2-3 months out of the year.
It would have been easy to keep believing that I don’t have time for RE. However, after seeing many people succeed on this site, I decided one day to FIND THE TIME to pursue RE deals.
Well, that was almost two years ago and I’m thrilled to say that I’ve done 16 single-family home, 15 MH, and two MH park deals.
I didn’t write this post to brag, but to encourage people with full-time jobs. I have had the pleasure meeting several successful part-time investors at the CREO conventions in Atlanta. One thing they all have in common is that one day they made the commitment TO GET STARTED.
You now are standing at a crossroad, you are the only one who can decide which road to take.
Choose you destiny wisely.
Best of wishes,
Steve Case
Re: finding the time. - Posted by TJ
Posted by TJ on July 16, 2001 at 20:31:39:
Start small. Don’t think you have to begin with some fantastic, creative deal where you get a property at a 30% discount with zero down, etc. Find a solid 2-4 plex with some fixup potential and a little cash-flow, or a single family home fixer you can turn within a couple months. Use a real estate agent to fing a good one. The important thing is to just get your feet wet.
Re: finding the time. - Posted by sue t
Posted by sue t on July 16, 2001 at 18:27:55:
I think the best advice I’ve received so far is to find just one thing to concentrate on and go from there. Especially if you don’t have much time. You might consider just doin a flip for your first time out because it won’t involved as much follow-up work.
Just a thought. Good luck
kill your TV - Posted by Anne_ND
Posted by Anne_ND on July 16, 2001 at 08:24:24:
…and read Rich Dad, Poor Dad. Get into a smaller house, cut your expenses whereever you can- do you need that morning latte (this is the habit that was hardest to break for me)? Do you need that family vacation more than you need financial independence? Ask yourself some hard questions.
good luck,
we’ve all been there.
Anne
Take a Deep Breath, And let’s slow down - Posted by Mark - IL
Posted by Mark - IL on July 16, 2001 at 01:24:43:
First thing I would do is take a momment to take a look at your life. Sounds like life is always in a hurry and there is never enough time to do anything. Already you are getting many post on a course of action you should take.
Take a momment and think about what you want to do. You have already taken the first step in knowing you need to change something. You are taking the right step in direction by coming to this web site. You will learn a vast amount of knowledge.
Again step back and see where you want to go. Put it to paper and get to work. As they say “Make a plan and work your plan”
Anyway, many of us know what you are going through. Some us are just getting started, some of us are on are way and some of us are already there.
As for me I started 4 years ago. A lot of work for not very much money in the beginning. But being at it for a while it is starting to pay off.
What ever you do just stick with it an make a goal. The stronger the goal the stronger the desire to succeed.
Good luck.
Mark - IL
PS. Maybe I will go see a movie during the day on Tuesday. Hehehe.
One of the benifits of working for yourself while
many of those same people laughed at me when I first started. Look who stuck at their J. O. B. (Just Over Broke. Ahh life is soooo good.
Just do it!!! - Posted by Bryan H (ny)
Posted by Bryan H (ny) on July 15, 2001 at 19:13:32:
Put an ad in the paper. Instead of wasting time trying to find deals, let the deals find you. Screen your callers carefully so they don’t take up any more of your time than you can spare. Joe Kaiser has a great 2 step screening method that has been posted a couple times in the last month. I don’t remember the phone number to his answering machine, but look up the posts (under screening) and call it. His screening method will make sure that you deal only with MOTIVATED sellers. The people we should be trying to buy from are DESPERATE to get rid of thier problem, so the right sellers should actually make it easy on us. My ad is in the paper as of 2 weeks ago. From what I’ve seen so far, it really doesn’t take more than a couple of minutes to get an idea of how motivated a person is over the phone. Also, being beginners, we really only need to gather information. Get as much information as you can. If you post info on a deal to this board, the people who know what they’re doing are very willing to analyse the deal for you. They are very forthcoming with expert advice. Ask someone to guide you through a deal when you find one. Put your team (lawyer, title company, etc.) together on the run. You can always get better help later if you need to. BUT PUT AN AD IN THE PAPER! You won’t ever get started if nobody knows what you want to do.
- happy investing!
- Bryan
Re: finding the time. - Posted by Michael
Posted by Michael on July 15, 2001 at 18:44:57:
I too have basically the same story as well. I had a wife, two daughters and a stepson. I work 50 hrs a week at a second shift J.O.B. that I HATE.
I have yet to do a deal, but right now I’m getting together the team of people whom I will be working with
so when my kids go back to school, I can devote ALL my free time to REI.
When you are REALLY fed up with your job, that’s when you will find the time for investing. Cut back on your T.V. time, sleep less, take different routes to work and look for FSBO’s, get some education on the type of investing that you want to do, write down every question you have a post it here. These are all small prices to pay to free yourself from the imprisonment of a J.O.B.(and much sooner than staying at your J.O.B.) Don’t get me wrong, its not going to be easy to make yourself use most all your free time learning and getting out there and finding some deals. But, when you are able to quit your J.O.B. because you took the steps to be financially free from and employer, I couldn’t imagine a better feeling in the world. I am going to expierence that feeling one day and you can too. What are you waiting for, go and make the decision to change you life forever!
Much success to you!
Michael, KY.
Re: finding the time. - Posted by Jossy
Posted by Jossy on July 15, 2001 at 16:22:21:
AW, you have just told the story of my life, however, I have decided enough is enough of this rut race to nowhere. I attended a Real Estate investment 3 day seminar spent alot of money, went back to my job and I have not done any investment. Something happened that made me decide I had enough. So I am now quiting my full time job 7-4 taking a second shift job, that will take care of my bills and have the most productive hours of the day to myself to do what I should have started doing 4 months ago.