the real estate “lifestyle” - Posted by Matt B
Posted by Matt B on December 05, 2000 at 11:27:34:
As many of you know, I found this site a couple of years ago and after purchasing a few courses, started doing deals. I even quit my job, incorporated my business, and went into it full time. I made tons of mistakes, but eventually figured out how to work deals on a fairly consistent basis.
Because of a pending divorce, I felt that I was forced to get rid of the properties that I acquired. I then took a job again in my old field of computer support. I took a job with the state supreme court, which would have thrilled me to death a few years ago. Heck, I?m making more money than I ever had at any job. However, I just could not stop thinking that I was simply working for someone else again.
I wanted to at least try to work a deal or two part time, but was afraid that if I started making any money or acquiring any property, my soon-to-be ex would find out about it and want a piece of it. This wouldn?t really be a big deal, but I was more afraid that it would negatively affect my business reputation to have a newly acquired piece of property dragged into court so that me and my wife could fight over who was entitled to how much of it.
I was letting fear stop me from doing anything productive. While that was a big factor, my wife also took our only vehicle, making it almost impossible to get around to check out properties and meet with sellers.
After writing a long, whiny e-mail to Jim IL about how bad things were going for me, I realized that I had a lot more going for me than I realized. I remember when I first started in real estate, knowing very little and having serious doubts that I could actually pull off one of these ?creative? deals. The very first time I called a seller, I sat for about 2 hours and stared at the phone trying to figure out exactly what I was going to say. I?m not kidding. Two straight hours of doing nothing but staring at a phone. After those 2 hours, I still couldn?t pick up the phone and call. It was either the next day or 2 days later that I finally brought myself to make the call.
After working a few deals, I began to enjoy the process of acquiring property. I learned what questions that I was going to be asked, and had instant answers for them. It was almost as though I had handed a seller a script for them to follow while talking to me. I knew from a simple phone conversation if a seller was likely to sign the deal or not.
I just recently realized that I had a huge advantage over so many people who post to this board. I have actually worked deals from beginning to end. I knew how to work the deals, deal with sellers, get buyers, and handle problems that arose along the way. Here I was crying and cringing in a corner, wishing that I could do something when I already knew how to do it. I cannot believe that I have wasted so much time.
Any way, here comes the good part. Today I made 2 phone calls. In the span of 2 hours, I worked a deal and come tonight, if everything goes as it is supposed to and I actually get it signed, I just made myself a handsome profit. It was so easy that I sat back after doing it and thought, ?What the heck have I been thinking, wasting my time, worrying about what else could go wrong, when I already have the tools to work these deals?? It shocked me to think that I had just made money so quickly with so little effort. Then I remembered when I used to do that all the time. (I think I finally get what Ron LeGrand meant when he said “the less I do, the more I make”.)
I remember when I first started reading this board, Phil Fernandez, when responding to someone else?s post, said that real estate investing was not a hobby or even a business. It was a lifestyle. I didn?t quite get it then. By golly, I think I?ve got it now, Phil! I cannot think of a single thing that enriched my life as much as real estate investing has. Even when I was obsessed with learning all that I could about computers because I loved them so much, I can?t recall ever feeling the way that I do about real estate.
I?m on my way back. I won?t be passively sitting by and watching as others work deals. If my wife wants to fight over some new deal I work, so be it. I simply cannot sit idly by any more. I?m addicted. I can?t wait for my next ?fix?!
How about this? I am going to publicly commit to working 10 deals of some sort by convention time. I will be working lease options, flips, subject to?s, and anything else that I come across that looks like a workable deal. That way I can be the one everyone is offering a beer to at the convention!