Posted by Bob Davis on August 22, 2003 at 17:20:53:
I want to know how people can purchase 20 or 30 properties in six months and have the tremendous cash flow they claim to have. I can buy properties with none of my own money and also get money at closing, but still the cost of maintaining,ins, taxes, fire fees,b&o taxes, etc. All this has to be considered. Am I in the wrong part of real estate investing? I usually buy at about 60% - 65% of market and then get a 80% equity loan which my tenants pay off. Do I simply need to do more? I’ve flipped a few but I mainly do rentals. Thanks, Bob
i have read some of the things about haveing good credit to make it in the rei bussiness and thats just what i dont have should i just give up wich i dont want to but if i sink alot of time into this and fail ill just be in this same hole ive always been
Michael. Read your post again as if it were not yours and see what advice you would give? It may be that you need more help than you can get here, as it seems from your post that you are afraid to succeed in anything? If you don’t try you can’t win. On the other hand, if you don’t try you can’t fail. That decision, of course is up to you! If you really do want to win, start now and change your attitude. You or anyone, can win if they really want to. All it takes is a minimum amount of intellegence and determination and persistence and more persistence. To quote anonomus “Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.” I have that posted on my office wall and in plain sight of all who enter, especially my son. My many years of experience have taught me that it is very, very true. People on this site are quite willing to guide to to what you want to do, but YOU have to really want to do it. Now is your chance, make a life bending decision and get with it! One of the most inciteful posters here and I all think we know who that is, not me, although I am willing to try, can give you very good guidence on what it takes to be a successful Investor. Heed and listen! I am sure he is likely to post after reading this. We want to help, but we can only do so if you are willing. I hope this sermon is not too harsh and you will take it in the vein that it is given, to help someone who has indicated that he needs it. If you would like more, please let us know.
Posted by Ollie York on August 16, 2003 at 21:55:43:
If you ask anyone whose actually “making it” in real estate investing, they’ll all tell you that it’s all “in your head”. Being discouraged is a huge enemy for success at this business. It’s cliche but keep your chin up! If I were you, I’d sign up for the ecourse on fastcashcourse.com. It’ll send you an email every week or so with some really good information on the “mental” aspect of this game. Also get the book, “As A Man Thinketh”. After you go through some of these steps, you’ll be on your way to being unstoppable.
Posted by dell-ohio on August 16, 2003 at 18:12:53:
Something to think about. And if you dont try what hole will you be in?
If you try at least you will learn something, if you are willing.
I have purchased 15 properties all with no money down and with bad credit. It is not in the having money or credit, it is in being willing to learn a system that doesnt require cash or credit until the point where you make enough to do different deals.
What do you want to talk about Bob? The first thing is to delete the capps when you are posting. It is shorthand for shouting and tends to offend other posters. What do you want to know? post and ask. But I would suggest you search the archives for Sheets, as you will probably find all that you want to know. If not, post here and some one will answer.