Posted by Brian on July 14, 2005 at 19:31:24:
A lot of people here just proved that you don’t have to be fluent in English in order to succeed in real estate investing!
MY FUTURE PLANS! Are they foolish? - Posted by Jeff G
Posted by Jeff G on July 12, 2005 at 18:14:32:
I am a college student now going for marketing. I Have choosen to persue real estate investing for a career after college. I am going to go to school for my real estate license and Appraisal license (if there is such thing and if that is possible). Then I am going to invest in realestate full time. I relize that I won’t become a millionare over night but if I keep my feet on the ground and work real hard I will eventually succeed.I have not ever invested in realestate yet but am excited to start investing after college. I still feel I need to learn more before I jump in. Do you think becoming a full time investor without ever making a deal is a foolish path to follow? if so, how should I go along becoming an investor?
Re: MY FUTURE PLANS! Are they foolish? - Posted by thutch
Posted by thutch on July 17, 2005 at 09:13:56:
I think you are on target. Get a job in the industry. Becoming an appraiser can teach you the most valuable resource when buying homes- How to Price.
You make money when you buy. If you combine an appraisal background with a marketing background it sounds like the potential for very profitable future.
If you start now and only buy 1 home a year for ten years that cash flow, You will be wealthy when you retire.
Good luck
Todd Hutcheson
President
Re: MY FUTURE PLANS! Are they foolish? - Posted by John Sheridan
Posted by John Sheridan on July 14, 2005 at 22:25:04:
Jeff, I can’t answer your real estate questions but I can tell you something very important. If you want to become wealthy, you can expect that it will take about 25 years of hard work. Some people will tell you that you can do it a lot quicker, but don’t listen to any of them. Sure there are people who actually did it quicker, but they were just lucky. The thing that makes these people so dangerous to you is that they do not think they are “lying”; they really believe that they got rich quick only by their own efforts and that anyone can do the same as they did. The “luck factor” is a little too humiliating for them and they don’t want to face it.
So remember, slow and steady wins the race. Maybe you will get lucky along the way, and if so, that’s great. But don’t count on that; expect instead to do a lot of work. I second the idea that you should find a job first and do your real estate investing on the side, and go full time into RE only after you have successful results to show that you really know how to do it.
Read Clayson’s excellent little book “The Richest Man in Babylon” and Stanley’s books “The Millionaire Next Door” and “The Millionaire Mind”. These will put you into the right state of mind and give you the basic information you need to eventually become wealthy.
Spelling, grammar, and MBAs - Posted by Don
Posted by Don on July 13, 2005 at 10:12:34:
A couple of random thoughts. First, there was an interesting article in the Wall Street Journal on July 12 (I think it was) about how, a few years ago, real estate courses for college MBAs were poorly attended…but now it’s standing room only. But their idea of real estate is working as a climbing executive at a big finance or mortgage banking firm. In a year or two, by the time many of them are job seeking, real estate probably will have cooled off some, and there will be a lot of real estate-focused MBAs with nowhere to go. I know Jeff wasn’t talking about this route to riches, but it did remind me of the article. (The gap between conventional real estate and creative real estate, someone planning a future out of school, etc.) And, speaking of schools…
I have a BA in English lit, an MA in journalism, and several decades of writing and editing experience. (My son calls me an “old fart,” for what that’s worth.) And, like some of the other posters here, I’m distressed by what’s happened to the English language and the declining standards of spelling and grammar. And I truly believe that a person’s ability to express him/herself reflects on other aspects of the person. However…
You can’t hold back the tide. Language is constantly changing; standards evolve. When I was growing up, parents were appalled that kids were listening to the Beatles, much less the Rolling Stones. Guess we should have listened to dance bands! So although I’m uncomfortable with misspellings and typos, I recognize that there are some things, like the tide, that I just can’t do too much about. As a practical matter, I know some very successful real estate investors with horrendous spelling skills. (Note: Not horrendous communication skills; they communication well enough with sellers, buyers, and lenders to make a very nice living.) There are some interesting books out there about different learning styles and multiple intelligences; keep in mind that some folks with poor skills in one area may have very strong skills in another.
Just a few random musings.
Re: MY FUTURE PLANS! Are they foolish? - Posted by speednxs
Posted by speednxs on July 13, 2005 at 24:43:08:
When you are earning enough that your day job isn’t worth the effort, then go full time. You will learn by doing and making mistakes. Mistakes can discourage you from continuing or make you more educated than the rest. Your choice. It’s amazing how much you can come up the learning curve reading $20 books. “Ya gotta run what ya brung”, so you should quickly find out what you do successfully (and unsuccessfully). As the pinball wizard taught us, someone else’s path to enlightenment may not do squat for you. I didn’t notice any spelling mistakes and clearly understood what you said. You can be impressed and in awe of people who criticize spelling while completely ignoring the content if you want. Perhaps the spelling masters would like to tell us how much they made correctly spelling last year. I’m very careful about who I allow to discourage me.
Good Luck
Your PhD Education is Right Here - Posted by phil fernandez
Posted by phil fernandez on July 12, 2005 at 21:13:20:
Sounds like you are about 20 years old. It’s very reasonable that by 30 you will be a real estate millionaire. But you have to shorten your learning curve. You can do that right here at CREOnline.
Keep in mind that taking courses for the real estate license and appraisal courses can give you a good background for those specific tasks, neither will help you much in achieving your ultimate goal of being a so called “millionaire”.
Re: MY FUTURE PLANS! Are they foolish? - Posted by Greg(NJ)
Posted by Greg(NJ) on July 12, 2005 at 18:52:07:
Jeff, I do not think it is a foolish idea. But you need to really learn about creative Real Estate investing. You have come to the right place. Jumping in fulltime may not work for you. You need to support yourself as you go along. Everyday bills and your eventual real estate marketing budget. You may want to purchase a course or two and a marketing course as well. Good luck.
Re: MY FUTURE PLANS! Are they foolish? - Posted by ski
Posted by ski on July 12, 2005 at 18:46:49:
Sorry to go through this again, BUT. A student of higher education should and must learn the basics of the English language. Learn to spell, a biggie. Sentance structure is a must do. Unfortunatly, the “american” language is going down the tubes big time. Many high school grads cannot read beyond an 8th grade level. The sciences are gone by the wayside. Many grads cannot and will not add and subbtract more than the basic one or two numbers. I am not trying to preach, but it is essencial to learn the basics before going out into the public sector. Not trying to critisize but… (sometimes my computor doesn’t spell to well).
Re: Spelling, grammar, and MBAs - Posted by No Speako Inglish
Posted by No Speako Inglish on July 13, 2005 at 20:58:29:
You wrote…Note: Not horrendous communication skills; they communication well enough with sellers, buyers, and lenders to make a very nice living.
THEY COMMUNICATION??? Check your grammar Mr. BA in Eglish Language
Re: Spelling, grammar, and MBAs - Posted by ski
Posted by ski on July 13, 2005 at 19:22:08:
I think you are wright…ha ha
Re: MY FUTURE PLANS! Are they foolish? - Posted by ski
Posted by ski on July 13, 2005 at 09:10:28:
I simply stated that a COLLEGE grad should have a better command of the americanized language. I know that I sometimes make spelling and gramatical errors, but I am not a college grad. The spelling errors are not my fault, this honor belongs to my stupid keyboard. It can not spell very well. As far as how much I made last year… mid 6 figures. And, I have reached that point already this year.
Please post replies here on the board, thanks (nt) - Posted by Bill H
Posted by Bill H on July 13, 2005 at 19:54:41:
nt
Practice what you preach… - Posted by Bill H
Posted by Bill H on July 13, 2005 at 13:11:34:
Sentance structure is a must do…correct this to read “Sentence structure is a must.”
sometimes my computor doesn’t spell to well). This has two problems…first 'It is not computor…correct it to “Computer”.
Second computers do not spell…spell check routines check for the errors that those who push the keys make.
Computers will do four things and four things only…ADD, SUBSTRACT, MULTIPLY and DIVIDE. In reality they do only TWO as Multiplicatition is merely repetetive addition and Division is repetetive substraction…so you see your computer could not possibly make a spelling error…YOU CAN!
Good Luck,
Bill H
Re: MY FUTURE PLANS! Are they foolish? - Posted by Phil
Posted by Phil on July 13, 2005 at 11:17:14:
Ski, certainly spelling is important. But I do know one R/E investor who cannot spell worth a $hit. He made 1.2 million last year. Its what you can put together and learning to market and talk to sellers. Joe Kaiser and Scott Rister are very bad spellers, they make millions a year!
Re: MY FUTURE PLANS! Are they foolish? - Posted by IB (NJ)
Posted by IB (NJ) on July 12, 2005 at 22:36:17:
“Sentance structure is a must do.” - Ski
I agree totally! Sentence SPELLING is equally important!
Geez ski - Posted by phil fernandez
Posted by phil fernandez on July 12, 2005 at 21:17:23:
Gee ski, you’re talking about yourself here. Bad grammer. Bad spelling. Not alot of hope for you.
Re: MY FUTURE PLANS! Are they foolish? - Posted by RJB(MA)
Posted by RJB(MA) on July 12, 2005 at 19:18:29:
Amen! You have to learn how to spell first.
Re: Spelling, grammar, and MBAs - Posted by Don
Posted by Don on July 14, 2005 at 14:45:21:
I think you missed my point. My point is that real communication skills are much more than spelling and grammar. I’m not perfect either, especially when I’m up late at night, trying to juggle half a dozen things at once. Not making excuses, just pointing out that it takes more than traditional education alone to be successful. Or would you disagree?