Posted by Tim (Atllanta) on January 25, 1999 at 12:49:13:
Yes, “Rich Dad, Poor Dad” is a book by Robert Kiyosaki. I have recently bought it from amazon.com. It costs $19 with shipping and handling. The book will change the traditional way most people think about money.
First, go through the CS course. It is a good introduction to the terms and methods we discuss. Then go to the How To articles on this site. Once you have a good understanding, you can ask any remaining questions.
Good luck !
CS Studet With Low Morale - Posted by Jim Lofgren
Posted by Jim Lofgren on January 17, 1999 at 04:15:57:
I really need some input on this from anyone who can help.
Recently I ordered and received the Carleton Sheets Course
and was really gung ho about it after reading the many postings on this board.
I started reading the course and had great ambitions about it. The next day I was fired from my job which I had for four and a half years.
My question is simple: Is it worth pursuing the course since any new credit I may apply for I may be turned down since I won’t have enough time on a new job.
As my credit stands right now, I have some negative reports but I have established good credit also.
So, should I pursue the course or wait 6 months until I hav established myself on a new job.
Please give me some advice.
Re: Opportunity Knocks - Open the Door!! - Posted by John Estell(Denver)
Posted by John Estell(Denver) on January 19, 1999 at 15:18:38:
Listen, you don’t need to worry about not having a job to do real estate. Look at the ‘How to Articles’ on this site and read the ‘Flipping’ article by Jackie of Dallas. I’ve been doing this a real short time and have done one flip and on my way to do lots more. I don’t have the best credit either. Don’t let things hold you back. This is a great opportunity for you. Also it would be a great thing for you to purchase “Rich Dad, Poor Dad”. I’m reading it now and what an eye opener. I also purchased the CS course first and then found this site. What a fantastic combination. Go do it.
Re: CS Studet With Low Morale - Posted by Rob FL
Posted by Rob FL on January 17, 1999 at 19:09:53:
Some of the simplest ways to buy property without a credit or employment check is by owner financing or lease options.
Usually the seller if the seller feels good about you than that is enough. I have bought property through seller financing in the very recent past without any credit or income verification.
My suggestion is for you to go through his course again probably 2 or 3 times, also go through as many of the how-to articles, success stories, and postings on this website. There is so much information here and so many people willing to give excellent free advice. Also listen to JPiper, find another job in the same profession if you can. It is nice to know that you have a steady income stream from somewhere.
Best wishes.
Re: CS Studet With Low Morale - Posted by Carol
Posted by Carol on January 17, 1999 at 16:05:14:
If you were studying to be an architect and working also at, say, customer service … and you lost your job… would you quit studying architecture? Probably not.
My guess is that you would continue earning a living in some manner while you pursued your goal.
You don’t mention what kind of ‘financing constraints’ you have … When we got started in REI, neither I nor my husband could have afforded to not have an outside income.
Today, he is ‘retired’ from anything other than our biz. I’m not there yet. On the otherhand, with our experience, etc. were I to lose my job TODAY, I would not look for another. I would know how to generate QUICKLY some income to compensate for the loss of the other.
So LEARN - the course material, all the great stuff on this site, YOUR MARKET. You will see that , as the previous posts have said, you don’t need a job to deal in real estate, so that’s the wrong question to be asking.
Low morale? Look on this as an opportunity. Most of us avoid the discomfort of making changes in our lives until they are forced upon us. This sounds like a wake up call to me!
Good luck, and email if you have any questions.
Carol
Re: CS Studet With Low Morale - Posted by JPiper
Posted by JPiper on January 17, 1999 at 15:05:51:
You seem to be laboring under several misconceptions.
First, time on the job is NOT one of the criteria for a loan. What is criteria is time in a ?field? of employment. So if you happen to be an accountant for 2 years?..and you suddenly leave your job or get fired, and then get another job with another employer as an accountant?.that meets the criteria as far as a lender is concerned. And I would not get too specific here either. In other words, if you happen to have a general labor job as a ditch digger, getting another general labor job as a widget assembler will probably count as the same field. There is no rule that says you must be on your job for 6 months. The only case I can think of where time on a job would be important is the situation where your employment is probationary (probationary periods typically don?t exceed 90 days). Typically the lender wants to see this period end prior to extending a loan. Before you make these types of assumptions, call a couple of lenders. Get the info straight from the horses? mouth.
It?s possible to be a real estate investor without getting institutional loans (loans from banks). While there may be certain advantages to institutional loans, it certainly isn?t the ONLY way to acquire property, or necessarily even the BEST way in all circumstances.
Education is the key to setting yourself free from some your misconceptions. This site is a very useful tool in this regard. Start by reading the ?How To Articles? and the ?Success Stories? located here.
JPiper
Re: CS Studet With Low Morale - Posted by PBoone
Posted by PBoone on January 17, 1999 at 10:08:33:
Real Estate Investing will take time to meet your daily expenses. I would suggest finding a job to keep your expenses paid and credit in good standing, but also work slowly at REI, find Lease / options or flips to generate a short term and long term income.
Credit will play a vital role in investing especially where leverage is concerned, so do whatever you can in order to keep that building to good status.
Re: Opportunity Knocks - Open the Door!! - Posted by Lynn
Posted by Lynn on January 24, 1999 at 23:10:33:
Is “Rich Dad, Poor Dad” a book? If so who is the author. I would like to read it. Also I have just come across this site and am new to REI (have the CS course)-- what would you suggest I look at first on this site?