To be perfectly honest with you I’m not technically a real estate investor —YET! I have been on the journey and I now know that the journey that I started in 2002 is coming to an end. I am learning to successfully build my real estate business as a Realtor and in so doing will do my first deal as a real “INVESTOR” more than likely under the tutelage of a mentor who is also an INVESTOR and can show me the way.
I have spent the last few months narrowing down where I focus my time and energy. This has brought me to the end of the chronicles of this blog.
I will probably turn it into an ebook. Those of you who are subscribed to this blog or have followed this blog will receive a free copy if you would like. Just reply to this post that you would be interested in receiving the ebook when it is completed and it would be an honor to share that with you.
All good things must come to an end. I will narrow my focus and begin another journey. Perhaps I will share that journey in another blog or a soft cover copy or a videolog. I will keep you informed.
Thank you to all who have read a blog post or replied or followed this journey. I give you a heartfelt thanks.
Peace & Bliss,
I know, I know we all have friends and relatives that we love dearly but if they are not on the same journey – wanting to become financially independent – should you continue to hang out with them? Of course you should but maybe think about cutting the amount of time you might spend with them. But if you want to be a successful real estate newbie I would suggest listening to what Loral Langemeier of Live Out Loud says — you should “trade up” for friends that already have what you want and you can learn from them.
I know I love my family deeply. Me and my sister are best friends, but she is not on the same page as I am. She pretty much has her life with her husband and children and travel and that is beautiful but I want more. I want to be a millionaire, I want to have better choices than I have right now. I believe being a real estate wholesale investor will do that for me. I know I’m a newbie. I have not done my first deal….yet! But I will get there and I won’t give up until I do.
How about you? Who are you hanging out with today that will get you where you want to go tomorrow. I think I saw an email from Heather Seitz who is a female real estate investor and I believe she has a conference call tonight that I’m going to be on to continue learning. If you are a real estate newbie, you need to ask yourself the question: What are you going to do tonight to get you where you want to go tomorrow? Please come and join the conversation…..
I attempted my first deal and this is what happened. I was bound and determined to get a property that I saw was abandoned and do my first deal and get a check for $5k. I researched the property and found the seller. I sent the seller a letter using a different color envelope suggested by Rachel Young of Big Cheese Marketing. I received a call from the seller. There were two sellers on the property. They were ready to sell. That was the first time I typed up a contract according to the examples I had seen and faxed it to their attorney. Then I didn’t hear anything. I called the seller and he told me that the price was too low. I needed a partner with more funds than I had. I found one. Turned out to be a wholesaler from Alabama who was interested in doing the deal. I spoke to him and he told me to ask the seller if we could do a title search. I called back the seller and asked for permission and then he told me that the property had a lien on it. I contacted my partner in Alabama and he became unsure. I then contacted a local attorney here in Atlantic City, NJ who told me to make sure I got the deed otherwise I would just be paying off their loan. So armed with that new information I called back my partner and was ready to move forward. He never called me back. I left many messages. Suddenly I realized he was backing out of the deal and I didn’t know what to do. I wasn’t prepared and had no idea what else to do so I contacted the attorney and let him know that my buyer backed out. Later my partner sent me an email saying, “next deal ok”. And that was it for me. I was devastated. I was numb and just sat there realizing that I was that close to do doing my first deal and it got away from me. The lesson I learned was to not stop when it looks darkest but to keep moving as if you’re going to complete the deal because if you don’t you’ll lose it for sure but if you keep moving, you’ll never know what is going to happen.