Re: At a Crossroads !!! - Posted by JPiper
Posted by JPiper on March 20, 2001 at 17:07:34:
Good post. Spoken like a guy who’s been there. Me too.
JPiper
Re: My Opinion… - Posted by David Alexander
Posted by David Alexander on March 20, 2001 at 23:37:30:
I arrive on Wednesday at 12:23 a.m. (technically Thursday) hope some folks will still be up.
We definitely have to do some catching up.
Talk to you soon,
David
Re: Talk about faith… - Posted by JPiper
Posted by JPiper on March 20, 2001 at 08:39:34:
My wife and I met David and the “roommate” that David met AFTER he arrived at the convention. What’s funny about it is that the OTHER guy, the roommate, had the money to go…and of course had a room. David was operating on faith. Guess who’s still in the business?
Alot to be said for the kind of motivation that comes from being down to your last few bucks…and going anyway. By the way, David was buying beers for me at the bar that night…he wasn’t saving his money…although it did seem like we were drinking a little slow. LOL
JPiper
DA’s like a cat… - Posted by TRandle
Posted by TRandle on March 20, 2001 at 08:03:59:
Evelyn,
Meeting David is an experience, especially if you happen to have read many of his posts prior. Let’s just say the knowledge doesn’t jive with the appearance.
My opinion is that you could tie his hands and feet and drop him from about 20 stories up and he’d find a way to land softly. By the time he finished explaining how he was doing, his situation will have changed. LOL!
Re: It’s A Funny Thing… - Posted by KatieFL
Posted by KatieFL on March 21, 2001 at 14:10:27:
Holy cow! Reading your post was like reading my thoughts. Even though I am in this bind, no way will it stop me from doing this business. I too feel deep down inside that this is what I am supposed to be doing, even though my first deal is already at loss. I know that I learned a lot from this deal.
You post was encouraging though, because I thought that I cannot go on looking for deals because I have no money. It is nice to see that you were able to find a deal that required no money of your own and you make a profit while waiting for you houses to sell. I guess I can just keep looking for other deals and just refuse the ones that I cannot afford.
I also agree with you that I wouldn’t go back and not do the deals. These deals got me started and if I did not do them, who knows how much longer I would be sitting here reading this board without going out there and doing the business. Now I’m just even more motivated to make money in RE.
Thank you for the great post. It’s good to hear that you are not the only one in this situation and not the only one crazy enough to keep going.
Katie
Re: At a Crossroads !!! - Posted by JohnG
Posted by JohnG on March 20, 2001 at 21:09:27:
Thanks for your response. Yes I not only have been there but I am “there” right now !!!
I didn’t have time for any details today, but now I have a few minutes and I want to paint a picture for both newbies and seasoned veterans.
I have been full time for 10 years and I have a number of multi-family complexes that are performing well.
This past year (since July - August) I have stepped up my real estate machine and over the last 7-8 months I have closed on some big multi family properties. At the present time, I am in the process of closing on 3 big deals and have been since Nov/Dec.
These deals have involved numerous delays and many many obstacles with regards to financing, details re condo conversions, and on and on and on. Also, in some cases I have had to find additional funds for second deposits in order to obtain extensions to closing dates.
The bottom line is that right now I am extended beyond my comfort zone - let me give you some examples. I have drawn funds from as many as 6 other properties I have to cover cash requirements on my purchases. This (in normal times) is a definite no-no.
I have also had to access funds that are for a rainy day and are never to be used for real estate and I have had to go back more than once. The point is this.
I am committed to my real estate career and all of these investments are great investments; its just that right now I have had to scrape money from all over the place to ensure closings, do fix-ups, additonal deposits as well as day to day expenses. This is what it sometimes takes in this business and if you don’t have your eye firmly on the goal - all you will see are the obstacles.
Its as if you are being tested and you are being required to experience some short term pain for what will be long term gain. Its not easy, but then again, living at 50% of your potential is not easy either.
I want all you newbies especially to realize that for every great victory you enjoy theres going to be many battles you have to fight to get there but it really is worth the fight. And whatever you do = Don’t let anyone steal your dream.
You see it works backwards in life. When you get to the top and you have made it then everyone comes out of the wooodwork and says what a great guy you are. But thats not when you need it - you have got a great big pile of cash that says you know how to make it in real estate. You need them to tell you that you can do it when you are down so low you can walk under a snakes belly - when deals blow up in your face or tenants destroy your place. Thats when you need the support and many times the only place you will get it is inside of yourself.
You have to be 100% supportive of you all the time - Never Never Never doubt where you are and where you are going. And then no one can steal your dream. (Not even that no good brother in law who keeps asking “Made a million in real estate yet ?”) If you can keep on one of these days you get the pleasure of shutting him up for good and if nothing else motivates you then that just might !!!
I loved that story. - Posted by Evelyn (FL)
Posted by Evelyn (FL) on March 20, 2001 at 14:33:34:
Lots of people don’t believe in faith. Too bad. We both could probably tell them quite a bit.
Being down on your last few bucks sometimes sure does have it’s advantages, huh?
Much success to you and the Mrs.
Evelyn
Yeah, he probably IS McGyver!!! (nt.) - Posted by Evelyn (FL)
Posted by Evelyn (FL) on March 20, 2001 at 15:31:09:
nt.
Re: DA’s like a cat… - Posted by David Alexander
Posted by David Alexander on March 20, 2001 at 10:58:46:
Except when on top of a mountain of snow… then I land on my A**,… see ya’ll in a few days.
David Alexander
Sounds like McGyver!!! [nt] - Posted by SusanL.–FL
Posted by SusanL.–FL on March 20, 2001 at 09:14:27:
nt