Don't know where to know begin - Posted by Shale

Posted by Derek (NC) on April 27, 1999 at 13:17:15:

I know what Scott is talking about(as far as the Military Salary goes) but I wanted to take the time to really thank Scott…For those who don’t know Scott was a real mentor to me, I remember coming into the Chat room and the first person I’d look for was Scott in AK. If he wasn’t there then there was no real reason for me to stay…Scott Do you remember the role play we did? we stayed in our private chat for about 2.5 hours that night…30 days later I closed on that very same house we did the role play on…Man My excitement was briming, I had a smile the size of the grand canyon on my face, not to mention my wife calling me the “Bomb” lol. All that encouragement and Scott very simply said “go do it again” needless to say since me and Scott first did our role play I have aquired 17 additional homes. With 2 more contracts being closed tonight…

Scott, if it weren’t for your mentoring, I would still be a gonnatryitoneday person and none of this would have been possible…

Thanks Scott

Derek (NC)

Don’t know where to know begin - Posted by Shale

Posted by Shale on April 26, 1999 at 21:42:55:

Help!! I really don’t know where to begin.
I’ve been reading & learning as much as I can from this site and I’ve listened to about as much of Carlton Sheets as I can. I want to do some wholesale flipping to make a little money without the stress of rehabbing the property. Now the task, could someone be so kind as to give a guy the step by step process as simple as one can truly put it for a novice like me. I mean from where to go or how to find foreclosed properties to what investors I should go to. Please share some of that knowledge you’ve accumulated over the years.

Give a guy a break.

Why cheat yourself? - Posted by Joe Kaiser

Posted by Joe Kaiser on April 27, 1999 at 02:22:03:

You don’t already see a ton of information here? You’re still asking for a break?

There’s a learning curve to becoming a full fledged real estate investor, and the journy is half the fun. You can flatten the curve by hooking up with people who’ve already had some success, but looking for a “step by step” guide is like looking for a pot of gold at the end of the rainbow . . . neither exist.

Instead, you read as much as you can get your hands on, find people who already know the ropes and watch to see how and why they do what they do. Soon enough, you do know a thing or two and you just build on that.

A little more than a year ago I loaned a fellow my lease option course and told him to send me a check when he closed his first deal. I showed him a couple things, and he went out and little by little, moved along the path. At first, every property he found wouldn’t fit his investment parameters and it soon became clear to me that his target property didn’t exist anywhere on the planet. Eventually, I convinced him to screen a little more loosely and soon enough, he’d snagged a good one. He’d call all the time looking for advice, and it got to be a little too much at one point, but sure enough, this deal closed and then that deal closed and he didn’t need to call me so much anymore.

Today he emails me about another he’s just closed, netting $15k assignment money (not bad, Scott).

He made the commitment, the journey, and now he’s well on his way. It didn’t happen in a couple weeks (no matter what they say on tv), but it did and is now happening for him and lots of others who simply decide to dig in and get to work.

They paid their dues, and I’m here to tell you, if you’re to succeed, you’ll need to as well. Don’t worry, it’s a good thing.

Joe

Something I Have Been Wanting To Share…(Long) - Posted by Scott(AK)

Posted by Scott(AK) on April 27, 1999 at 11:37:38:

First, I would like to say Thanks to Joe for taking me under his wing and being patient with me threw my really rough growing times.

Second, to all the young investors like myself. Like Joe said in his post, the journey is the biggest part of the fun. Now as I look back at myself a couple years ago I see the growth I have accomplished. A good deal of it with the help of people like Joe Kaiser and other very knowledgable folks from this site. Too many to really name one by one and with the fear of forgetting someone. Although I must take the time to Thank JPiper for al the late nights we spent in the chat room.

Looking back I see some of the mistakes I have made along the way. I feel my biggest mistake is putting too much pressure on myself to get deals done. For me, real estate investment has been a part time escape from a career that I has not been able to meet my needs any longer. Both in terms of finacial rwards as well as being able to provide the things I WANT for my family. But it does pay the bills.

I know many people get into real estate investing because of the huge sums of money that can be made. (When you live on a military salary, the sums seem huge). As I look back, I wonder WHY. Why do we try and force it to replace something else? Why do we need to be rich TODAY? Why this, Why that. You know, I still ask why. But now I ask…

Why not just have fun?

Folks, I am not going to pull punches. It’s not going to be easy. At times you will want to guit. At times you will wonder if you have the ability. Then one day that deal will close and you will take a growth step like no other. Be patient and enjoy the trip. Look at yourself every now and again and give yourself credit for the growth you have accomplished. Don’t try to be a Joe KAsier, Terry Vaghan, JPiper, or Jackie Lange TODAY. We are the Joe Kaisers, Terry Vaghans, JPipers, and Jackie Langes of tommorrow.

Joe has told of his beginnings both on his website and to me on the telephone. It was rough. I remember he told me for about the first six years. We are much luckier because of the efforts of these people who put sites like this together to provide a forum for the knowledge to be shared. Much more lucky for the ones who are willing to share that knowledge so our trip does not have to be as rough.

In short…take your time, have fun, read EVERYTHING you can get your hands on. When you close your first deal invest in yourself. Spend some money on a congradulations outing and get some more knowledge. Buy more courses.

But most of all…HAVE FUN!

Thanks for listening, Good Luck!

To Joe Kaiser…Thanks for leading me to the gate, letting me walk through it, and being there to guide me along.

Scott (AK)

Re: Something I Have Been Wanting To Share… - Posted by J.D.[Journey] Swindell

Posted by J.D.[Journey] Swindell on April 28, 1999 at 01:30:34:

Thanks for the enouraging words. We are working on our 1st 2 deals at the same time. After a day like today both my husband and I thought we were ready for the funny farm! 1st lesson we learned, it’s a bad idea for your lender and re agent to be the same person!
2 hats= 2 much power= 2 much control!
Lesson learned!!!
I am really glad that others who have struggled, survived and come out on top are willing to share with us who really need to hear the enouragement and the successes. Especially today, that means a great deal to us. Again thank you!

Re: Something I Have Been Wanting To Share…(Long) - Posted by Shale

Posted by Shale on April 28, 1999 at 01:18:32:

I really appreciate the advice. I guess I’m just a little bit anxious and I’m dying to make a little money. I know I’ve got a lot to learn I was just trying to find a shortcut. However, Joe K. is right I should make it fun and educational instead of a get rich quick pipedream.
If you can provide me with advice I’d really appreciate it.

Re: Something I Have Been Wanting To Share…(Long) - Posted by tarun_md

Posted by tarun_md on April 27, 1999 at 23:44:01:

Scott,
that was very inspiring. I am currently experiencing the same things that you have mentioned in your post such as doubting your own ability to close a deal and a bunch of other things that happen to people when they are at the crucial stage of getting those first couple of deals. Your post makes me feel as if I am not alone and gives me the motivation to keep going until I make it.

Thank you!
tarun