Questions about getting started as an investor. - Posted by Alan Wodke

Posted by Mel St. petersburg FL on May 07, 2000 at 20:57:28:

Allen, Id like to preface my comments by saying Im no pro. But I can really relate to your story.

Like you I grew up in poverty. Like you I decided that I would do “whatever it takes” to make it in real estate.

I had no money to start out with, in fact, I had to borrow the $100 earnest money deposite to do my first deal. Now I have quit my job (although maybe a bit too soon) and am “full time” in the biz.

I have found the “magic” diffrence between the successful investor and the wannabe. It is simply action. Action is the only thing that is diffrent about me now from when I was where you are. And I was there for about 3 years!

As far as no money down deals, YES they are real!!!

I have done 5 deals now including the 2 I got last month, and the last one that I got will be the first one that I will come out of pocket with any money. If I wanted to I could “flip” that one too.

One last thing, its the best thing that you can do (in my opinion). Get around people who do it. Until you do your never really going to believe its real. It is!!!

The only thing I regret about getting into RE investing is that I took so long to get started. If I had started when I first learned the tools, I’de be worth a million dollars today. And thats realistic!

Anyone can do it if they will take the ACTION. Again Im no pro but this is what my limited experience has shown.

Any of you pros want to back me up on this?

Questions about getting started as an investor. - Posted by Alan Wodke

Posted by Alan Wodke on May 07, 2000 at 11:58:20:

Throughout my entire life, I have lived in poverty. I am working, although my income is low at the present time. There comes a time when a person just gets tired of living in poverty. I want to be a real estate investor. I want to get out of that poverty level. I believe I chose the right field to get into. ( meaning being a real estate investor). I’m sure there is a lot of investors out there who come from that same category that has been in the same situation as mine.

I recently purchased Carlton Sheets course, however, there is a few things in the course that are unclear to me. I am almost done studying the course, and I want to get started with my investing business in the next few days ahead.

I virtually have no cash at the present time. When people say," I bought this property with no money down", Does that mean they did not pay any money in the closing cost or any other fees concerning the property they bought? This is where I have my deepest concerns.

Can I still get started looking for property to buy even if I have very little cash right now? I feel a little bit embaressd about approaching a seller of a property or a broker knowing I have no cash, however, I will do what ever it takes to get my real estate business going and started.

I would appreciate any replys.