Posted by Anne on December 31, 1999 at 10:24:20:
Little money, little time? It can be done.
12 months ago I bought Carleton Sheets’ No Money Down. I loved the positive attitude in his course, even though some of the methods seemed a little hare-brained. As he suggests, a friend and I decided to write down our real-estate and financial goals for 1999, and ‘witnessed’ each others goals on contracts that we signed. We pulled out those contracts earlier this month and found that both of us had met about 2/3 of our goals! He had saved a substantial sum of money and started a new company; I wanted to buy 3 single family homes. Yesterday I closed on my second No Money Down home in 1999. The first was a duplex I’d renovated using a 203(k) loan.
We accomplished these goals in part due to reading and absorbing books such as The Habits of Seven Highly Effective People, The Millionaire Next Door, Rich Dad, Poor Dad, and others mentioned on this site. We talk often about ‘doodads’, and the need to reduce our spending on non-essential items so that we can save for investing (although frankly, I hate it that Kiyosaki considers a latte to be a doodad!).
I’ve been reading this site since May, and wanted to let other newbies know that REI can work for you even if you have little money or time. You need perseverance and discipline. You make your own luck.
Finally, I want to thank all of you who post to this site. It has been an incredible resource for me. In particular, thanks to Ed Garcia, who brokered the loan on my second purchase, Bill Gatten whose materials are terrific, and Bert G, a fellow CREOnline investor in my town.
See you all in Atlanta in Feb, and Happy Investing in the New Year to all of us!