Posted by Don (Silicon Valley) on December 03, 1998 at 11:19:21:
That’s a great technique…I’ll use it. Thanks for taking the time to post it.
Posted by Don (Silicon Valley) on December 03, 1998 at 11:19:21:
That’s a great technique…I’ll use it. Thanks for taking the time to post it.
What’s Holding You Back? - Posted by Jackie in Dallas
Posted by Jackie in Dallas on December 01, 1998 at 16:19:55:
How many of you have been reading posts on this newsgroup for months (maybe even years)and still not done a deal?
How many of you have a complete library of all the books and courses - and you’ve even read them all - but still haven’t done a deal?
Perhaps you just can’t decide WHAT you want to do - mobile homes, flips, lease options, rehabs - there’s so much to choose from - so you just don’t do anything.
Perhaps you’ve done a few little deals and envy the people that are REALLY out there working the business every day - people like Jim-NC.
You want to do more - but just can’t seem to get the courage to pick up the phone and call on an ad, or write a letter. Who knows, the Seller might say YES - then what would you do??
What’s is it that’s holding you back from taking the next step?
There is a SOLUTION!
(By the way, that’s what this business is all about --creating solutions)
If you need more knowledge - the kind you cannot find in a book or course - you can get it at the Creative Real Estate Convention. The speakers will give you detailed information about every aspect of their speciality in real estate - you just listen and decide which one fits you best.
You’ll have the opportunity to talk to the speakers about what to do and how to do it.
You’ll also have the opportunity to network with other investors from all around the U.S. and find out what they are doing that’s working - what’s not working - and how they made it work.
If you need more courage - you can find out how others got over their fears - how they GOT STARTED!
If your business is in a slump - you can find out how to JUMP START it all over again.
If you need to convince your wife of husband that it is the right thing to do - that it REALLY works…
If you are REALLY SERIOUS about making a commitment to your future and your family’s future - then you owe it to yourself to be at the 1999 Creative Real Estate Convention - front row!
What’s your alternative?
Read the posts for another year waiting for the right time? - more time wasted - buy more books and courses that just sit on your shelf? - more time wasted - loose sleep at night because you are frustrated with yourself that you just haven’t gotten started? more time wasted!!
Stop wasting time! Start making a commitment to get out of the rat race of a JOB by learning what, where, when, and how to make money in real estate!
Make a commitment to join me at the Creative Real Estate Convention TODAY. Call JP and reserve your seat before they are all gone.
Re: What’s Holding You Back? - Posted by Dirk Roach
Posted by Dirk Roach on December 04, 1998 at 04:51:58:
Jackie, you are right!
Something else I love is the statement which I have heard a few times, but most recently it came up in a discusion I was having with a seasoned investor. “YOU HAVE TO MOVE MOLECULES”. I totally beleive this. It’s very surreal how things work out. I meet sellers and find potential deals in all sorts of strange places. But the fact of the matter is I’m out and about and in the trenches.
It’s very easy for me to fall into the trap of getting a lot of non-productive things done if I stay home, in the day. I tend to schedual my day in that I have basicilly 2 phases where I’m in the office and taking/making calls. In the Morning and in the evening (as many of you know if we’ve been chatting in the chat room). The rest of the day. I have found that I have to be out. And the really strange thing is one would think that I would run out of parks to check out and such. But I don’t. Actually the other day I wanted to hit some new parks, and had forgot my big book.com printout at the office. No problem. I just found one of the mountains which suround my city, and drove up on top of it and looked for some mobile home parks. Sure enough I had four new parks to check out in like a couple of minutes.
But getting back to your post, it is so easy to make excuses. I have done it. “I can’t find any deals”, or the better one “I have no money in which to buy any Mobile Homes”. Which I made the mistake of complaining about to a few seasoned investors. After a well-deserved kick in the pants, I started going over things again, and realized that having money to buy something is really not a big deal at all. In fact you don’t need it. Wow what a concept! Duh! And I had read that you didn’t over and over again. I knew it but didn’t realize that I knew it.
Also another issue about the upcomming convention came up tonight in the chatroom with someone I was chatting with. And that is the whole, I’m not going to stay in the hotel thing. What a mistake. I’m pretty green at the whole convention scene, having only been to Lonnie’s in Norfolk in October. But let me just say this. I brainstormed, and networked and LEARNED SO MUCH from other people at the seminar after the workshop, in the bar, in the resteraunt, in the hotel lobby. I think that anyone who is going to the Convention in Dallas and like taking off straight after the speakers is CRAZY. You miss so much. For example Jackie I don’t know if you are going to be speaking or not, but you had better beleive that I’m going to be picking your brain, big time after the speakers are finished. And so many other seasoned investors that are going to be there.
Anyway I can’t wait to learn all I can from the speakers and the investors there.
Just some thoughts, thanks
P.S. Thanks Jackie for keeping us all motivated, I know that we all need it from time to time.
Re: What’s Holding You Back? - Posted by MilNC
Posted by MilNC on December 02, 1998 at 12:13:51:
Basic knowledge, that’s what.
For ex., I know I can do 5 MH deals per year in NC wihtout
being considered a dealer (have an office). That
too many, but a start.
Not knowing what constitutes a mortgage broker and
requires a MB lic in my state ( I’ll call today).
Which deals can I do without sufficient risk as to
require incorporating or LLC first.
Finders fee- when is that available? Some states (FL)
say you have to have a RE lic in order to get paid a finders fee, but everyone on the board talks like it’s
an easy thing, no problem.
I do plan to go to the Convention, but I’d like to have my feet wet first.
Re: What’s Holding You Back? - Posted by Don (Silicon Valley)
Posted by Don (Silicon Valley) on December 02, 1998 at 09:32:56:
Well, Jackie, you’ve pretty well described my situation…reading the posts, well stocked library, many specialized courses, haven’t done an investment RE transaction yet, spouse isn’t convinced it can work…
I’d love to go to the CRE convention…actually I’ve even proposed doing just that…unfortunately, my spouse is adamant that no more funds be spent on RE investment related things until I can show a return on the money I’ve already invested…paying to fly to Dallas and staying in a hotel or motel is impossible…and I can’t get the time off work, unless I call in sick and risk losing my job.
I guarantee that if it was only me I had to account to, I’d have signed up first and worried about finding the money and time later. Alas, I have to deal with reality, and I have obligations and responsibilities that preclude me “just doing it.” This may sound like excuse-making to you and others here, but it’s a very real and presently unsolvable situation to me. I’m a pretty creative, outside-the-standard-mold, risk-taking guy, but short of saying to hell with everything and just going, this is a classic catch-22.
I know your post is meant to get wannabe investors off their butts. In concept, you’re absolutely right, going to the convention would be great…and I sincerely hope it motivates a whole bunch of folks to do something proactive about their dreams…as I’m doing.
Let’s see…I get up at 2:30 am and commute 56 miles to work, sleep in my cubicle for an hour and a half, start work at 5:30 am, work until 1:30 pm, drive halfway home and stop in at the office (the real estate office where I have my license active), grab leads off Dataquick, drive the rest of the way home, go in my home office, search the MLS, read the local classifieds, process my mail (both in and out), make my followup phone calls, make scheduled cold calls, and study some of my RE courses and/or materials. I visit the CRE newsgroup on my breaks at work.
Into that I have to fit the “normal” things most folks do…eat something, interact with my spouse, help train our dogs, take my walk with spouse and dogs (trying always to walk a different route so I can knock on FSBO doors), bring the home accounting up to date, pay bills, do minor household chores, go to any social functions I can manage (trying to network of course) etc, etc. And then go to bed NLT 8 pm. Oh, I forgot to mention that I also do bookkeeping and database design and consulting as part-time endeavors to make money for the 6 months common-sense-financial-cushion I need in order to quit my rat-race job.
You wrote “If you are REALLY SERIOUS about making a commitment to your future and your family’s future - then you owe it to yourself to be at the 1999 Creative Real Estate Convention - front row! What’s your alternative? Stop wasting time! Start making a commitment to get out of the rat race of a JOB by learning what, where, when, and how to make money in real estate!”
I sincerely hope you don’t take my absence at the convention as a lack of commitment. I think I’m really serious about making a change, but I don’t see how else I could demonstrate that. Maybe I’m not doing all I should, but I’m doing what I can.
Cheers! Have fun at the convention…I hope to meet you and the other inspirational folks when I can finally attend one.
'Scuse me, but… - Posted by Soapymac
Posted by Soapymac on December 02, 1998 at 23:01:43:
I got tired just reading your post!
Re-read your post and answer this question.
What is the focus point of your life?
If it is RE, then make it happen in your real estate profession. The creative part will follow.
I know, I know, you’re saying “I gotta have some bucks coming in to pay the bills.”
Guess what? That’s all you will EVER have…unless you focus on what you really want. Stop kidding yourself otherwise. Truthfully, do you need the bookkeeping and database design and consulting income FOR DAY TO DAY living expenses? These are drawing you away from what you say you want to focus on…RE and REI.
Both you and your wife should agree on what bills should be paid. Teach your wife how to write the checks out AND THEN YOU SIGN THEM. That way both of you know what’s going where.
And with respect, what does training the dogs have to do with your RE career? Are you breeding them for cash? How much time do you spend doing that…and HOW MUCH MORE PRODUCTIVE YOU COULD BE taking that time and investing…yes, INVESTING…that time as a RE professional?
Your statement “This may sound like excuse-making to you and others here, but it’s a very real and presently unsolvable situation to me” IS EXCUSE MAKING.
You see, I’ve been there…done that…and almost blew a marriage because of it.
My reputation on this board is not one of being negative…but unless I can get you to WAKE UP and start thinking OUTSIDE THE BOX your mind is presently in…then you are doomed to a life of frustration and misery.
Re: What’s Holding You Back? - Posted by Rob FL
Posted by Rob FL on December 02, 1998 at 21:02:28:
I wish I could have from 1:30 on to do deals. I usually get off around 6pm (this time of year I have to do the deals in the dark unless it is on weekends). Sounds like you have it made compared to most full-time job people on this board. The only people your excuses hurt are you and your family. I wish you the best, but while you are making excuses about how tough your life is and how you have no time, the rest of us are out doing deals. Maybe your wife has seen you piddle around too long and thinks RE is just an expensive hobby to you. You may have to make some $ to show her that you really are serious.
Here is a simple solution if you don’t think you have enough time or money. Get a job that is 30 minutes or less from your house. I read a book about 2 months ago that informed me how to compute your real wages. Figure out how much time your job really takes. Take your 40+ hours on the job, add in time to commute to and from, time to get ready in the morning, lunches and breaks, time to unwind in the evening. You will quickly find out that your job really demands an additional 10-20 hours from you every week. Then figure out how much your job costs you to work there. Take your NET income, subtract car expenses (gas, wear and tear, insurance, repairs, etc.), subtract lunch money, subtract clothes money, tolls, bus/train fare, etc.,etc. Divide your NET NET PAY by your hours that it really takes on the job and then you find out your real hourly wage.
Here is an example:
Work 40 hours and get paid $500/week. That’s $12.50/hour.
Now look: Say that work related expenses are $50/week. Say that you spend an extra 15 hours a week commuting and getting ready for the job. $450/55 hours = $8.18/hour. You lose 34% of your pay. You might be able to make more being working 5 minutes from your house at $8.50 per hour.
Think about it. This really opened my eyes when I read it.
Classic analysis paralysis - Posted by HR
Posted by HR on December 02, 1998 at 17:31:17:
Forgive my incredulity, but I don’t get it. You say Jackie has described you perfectly, you own all the courses, you read everything here, AND you have your own re license (!), you knock on FSBO doors (!), you have re agent training (!), you have access to the MLS (!), you network (!), you make cold calls (!), and you still haven’t done a creative deal!??! And you put all that time in that you describe?
Don, there are people with 1/10th the resources you have who have done many, many profitable deals. My real estate friend, it sounds like you have the dreaded analysis paralysis. You describe yourself as “pretty creative, outside-the-standard-mold, risk-taking kind of guy”-- good! Put it to practice and MAKE OFFERS that fit the seller’s NEEDS!!
What’s stopping you from success, other than yourself?
Re: What’s Holding You Back? - Posted by Matt B
Posted by Matt B on December 02, 1998 at 10:04:10:
It’s obvious that you are serious about your direction in life. It looks like you are a very focused, driven person. I’m sure that Jackie’s comment could not apply to a person like you. I thought that I was stretched thin! I just wanted to comment on your post because I have never met any individual who has the drive that you and so many other real investors that post here have. Of all the people that I have met in my life, I know only of people who would “really like” to earn more money, or lose weight, or “start investing some day”. All of these people then go home, sit on their couch, watch TV, get fatter and poorer, and complain about how horrible their job is. The next day, they get up and do the same thing!
Just wanted to say that this board has been a breath of fresh air to me after inhaling all of those exhaust fumes of “average” people. Good luck in your real estate endeavors.
I can use that advice! - Posted by Matt B
Posted by Matt B on December 03, 1998 at 06:03:25:
After reading Rich Dad, Poor Dad, I took over finances for me and my fiance. We are doing extremely better with bills, investments, educational spending, etc. One small problem was that I think I cut her out of the picture completely when it comes to money. As a result of this, she will still let a bad spending habit creep up, then later come to me and say, “You’re probably going to be mad, but…”. What I will do now is have her write out the checks and I will sign. I believe that by getting her more directly involved, she will see what is going on, and how exactly we have started accumulating money instead of chasing it. Thanks, Roy!