Re: Anybody start out at the bottom like this? - Posted by Keithk2
Posted by Keithk2 on October 21, 2000 at 10:52:03:
Yep. Been there, done that, bought the souvenier T-shirt.
I’m a 46 year old guy who basically started all over again five years ago when I was out on my butt after a divorce with a BK on my credit report, no job, no car, and too few personal effects to fill a pickup truck. I stayed for about six weeks with my eldest son, took a job as a shuttle bus driver at the airport, and started rebuilding.
I already had some RE experience as a licensee from 1978 thru 82 or so but I let it lapse. Couldn’t see myself working for sellers and didn’t want to work with the restrictions that the licensing laws put on RE salespeople. I registered my company name three years ago as a starting point and started studying.
It’s been a long road but I’ve enjoyed every minute. I started with flips and options and worked my way up to doing a rehab (a task for masochists and people addicted to the smell of drywall dust, sawdust and paint . Along the way I made a mistake or two but nothing lethal. I found that the paralysis of analysis can only be cured by the thrill of seeing a deal come together firsthand.
I’ll be working within my company (now incorporated) on a full-time basis soon and am concentrating my efforts on pursuing distressed owners to put together short term resale deals while building a larger cash and asset base. While you can put deals together on a shoestring, cash and available credit makes putting the fatter deals together a lot easier.
Hang in there. Don’t be afraid to get your feet wet once you’ve studied the basics. There’s nothing quite like holding your own reins and as Kiyosaki points out, life is more secure when you work in your own organization.