Re: Is REI worth it? - Posted by Juan
Posted by Juan on July 10, 2002 at 13:16:47:
With a name like yours, you seem to have the mindset to make it big. About 3 years ago I joined my local REIA, I was a full time mortgage-broker and started meeting many investors and asking them how long they had been in the biz and what they did, and did they have a full-time job. I learned alot and after a while I started getting bored of the mortgage business and at the same time saw that these investors were making very good money. I had actually helped some of them get some of this money.
Unlike you I was single and decided to take Dwan & Sharon’s course and began my RE career part-time. In my first 9 months I had made more money than I had ever and was hooked.
Over the years I have read many books and have realized that the key to success is FOCUS. I have seen many members of our RE group invest in thousands of dollars worth of material and not do anything with the knowledge.
The key for you in my opinion is to focus on what type of investing you want to do. Do not quit your day job, until you are liquid enough to survive 6 months with out any income. Include your family in your venture and make sure you have your wife’s 100% support, with out it you’re doomed. I’ve seen many investors fail because their spouses were not supportive. I know a couple who took my wife’s boot camp and with in the first 5 or 6 months have made over $80K. They are both in it 100% and as you can see, it has paid off. If you and your wife can work together who knows how soon you can quit your day job.
One book or a series of books I would highly recommend is Robert Kiyosaki’s. The first is Rich Dad Poor Dad. I have read them all and they have changed the way I think. If you can play his boardgame - Cashflow, you will learn a little more about investing.
Hope to hear about your successes in the near future. Just about every successful person invests in RE in one way or another.
My best to you