Posted by JX on February 09, 2002 at 22:40:56:
It’s never too late to change. But are you willing to change yourself first? Are you willing to not accept a weekly paycheck and not be expected to be at work from 9 to 5 every weekday? Are you ready to step outside the box and not look back? If your answer is yes, then you’ve only taken a step forward. Real estate is a business and should be treated as such. It’s not a get-rich-quick money making scheme that you may have been led to believe. It requires a lot of patience with a lot of risks. With that said, your position in life is all too common in society nowadays. But it is never too late to change your life! You’ve begun to rebuild your credit! Great! Now you want to start in real estate. First learn how to flip. There are various articles on this site about flipping with no need for me to explain. But for you to get that “foot in the door” flipping is the best way for a newbie to begin. Don’t buy a rental until you are ready! I’ve seen so many newbie investors make the mistake of starting out with rentals. With the education and experience you have starting out, you’re not ready to handle tenants yet! As the weeks progress, you will notice that your knowledge of real estate will increase by doing. Don’t sit on your duff! The only way you will learn anything is by doing. It’s like riding a bike. You will make mistakes along the way, but as you progress you will learn from your mistakes and better yourself. And don’t worry about making mistakes! It doesn’t mean you’re a failure or a loser! Who are you trying to impress anyway? As long as you learn from them, you’ll really be a winner! But you must actually get out there and make a mess. No one is going to come around and hand you free money from the sky. Government? Your job? Matthew Lesko? You think your job security is going to last? HAH! Get out there while you can and do! That’s the only way you’ll ever learn. Soon enough you’ll take this on as a full time occupation and laugh at the word “JOB”. And remember, do what you fear and you’ll kill your fear. Don’t do what you fear and fear will be the death of you.
I would recommend you read, “Rich Dad, Poor Dad” by Robert Kiyosaki. It’ll at least open your mind.
P.S. Your house is not an asset.