Posted by hk CA on November 11, 1998 at 11:46:42:
You’ve got the right attitude to succeed. Good luck to you.
Posted by hk CA on November 11, 1998 at 11:46:42:
You’ve got the right attitude to succeed. Good luck to you.
Finding time - Posted by Stacy
Posted by Stacy on November 09, 1998 at 16:03:04:
Am I missing something or just poor at time management???
I’m often amazed by how the part time investors on this site find the time to find properties, visit their local courthouses, conduct mailings to burned out landlords, meet with sellers, etc…
Since I work for a company in which I travel the country extensively in public speaking, I find there’s only time to eat and sleep. I know…my job’s running my life…but it’s paying the bills too.
I visit this site daily, have studied creative real estate for a year or so and would love to dedicate my time to real estate completely… but how to I break free from my trap…???
My weekends are spent in hotels and my weekdays till 7 or 8 at night are consumed with my job. By the time I get home, I’m wiped out.
Would appreciate any pointers as to how to break free…
Finding time…what if…? - Posted by raelynn mitchell
Posted by raelynn mitchell on November 12, 1998 at 22:58:58:
What if you were to either open a mail receiving service or buy an existing one? And no, don’t set up a Mailboxes Etc. franchise, as almost all of the ones in Orange County, California have disavowed MBE and changed their name (and lowered their fees!) in order to survive.
The reason I say this is, although you’re there most of the day, you have plenty of slow periods and can set up internet access and learn while earning.
I know this sounds off the beaten path, but creativity is what this real estate is all about.
Or here’s one:
How about incorporating? You inc. a business, build credit to it, then borrow money from the business to buy you the time you need to do the real estate. Maybe 3-6 months worth of living expenses? It might take a bit of time building credit to this corporation, but when it’s there, you can not only use this thing to buy time but also to buy real estate.
Dare to dream, and just maybe one of those far-fetched (?) solutions might work 4 you. Maybe (if you give it all you have, definitely!) ;-()
Been There, can truly relate… - Posted by raelynn mitchell
Posted by raelynn mitchell on November 12, 1998 at 22:41:20:
because I found that by the time I made the work commute, did the requirements of my job, got kid from day care and got home 2 help her w/homework, etc., there was very little time left.
Solution? Working 7-7 equals legal entitlement for 1-1/2 hour lunch. Take a lunch 2-3 days a week, take 30 minutes and make phone calls from a desk or payphone. I’ve made calls from both locations.
I was lucky, as I had a job that gave me high speed internet access. I became very proficient at saving files for later reading/printing with my web browser on diskette. I made EVERY minute on that LAN count in between the busy times of my job.
Then I dared to dream. What if I could afford to take one month off, to do nothing but what needed to be done for real estate? Is there vacation time available? (For me it was not, as I was a temp.) Sick time? (Dr.'s appointment one afternoon can equal courthouse time.) Can’t afford one month off? How about $150 a month for 12 months? Or $80 a month for 24 months? Now we’re talking about a signature loan to cover the expense of that one month off. Or maybe all you need is 2 weeks.
I know that maybe I’m reaching, but with the break-neck pace you’re giving your employer, you need to take time out for you. Keep in mind that the same break-neck pace is what eventually drove a stockbroker to chronic fatigue syndrome leading him to search for another source of work. This man turned to discounted mortgages, and excelled at it. So much so that he created America’s Note Network, www.notenetwork.com.
Hang in there, it’s GOT to get better!
Making time - Posted by Mr Donald
Posted by Mr Donald on November 10, 1998 at 17:13:12:
Time is what YOU make of it.
Take the time to make the time for those things in life that you consider important.
If you don’t achieve your goals, you have only yourself to blame - and no one else.
You’ve sold your soul to the Company store - Posted by Bud Branstetter
Posted by Bud Branstetter on November 10, 1998 at 12:22:55:
Things like time management and better health through diet and exercise can provide more time for your interests. At some point you must make those decisions on what your interests are, what your goals are, and how to get there. I don’t think anyone can decide for you if you should get a JOB that allows more time for your other interests. Or at what point you can cut the ties that bind. Are you willing to make lifestyle changes to accomplish your goals?
You can also revise your interests. If you have access to cash or credit become the elephant for some mouse. Passive investing can be financially rewarding. It may facilitate the accumulation of resources. I mean by that not only cash to live on for a year or so but also the time to learn more on how to do the investing.
I hope that you share your decision with us so that we may cheer you on if you decide to pursue your investing interests. That transition from novice to pro, from wanting to wealthy and from lacking to enjoying is what it is all about.
Re: Finding time - Posted by Jennifer (NE)
Posted by Jennifer (NE) on November 09, 1998 at 21:35:53:
Stacy, I’m just getting started in investing, but I consume all my free time towards learning or making calls since I’m so busy with work and sports. Here a few things I do:
I’m even reading this web site while I’m making dinner and during commericals of my favorite show!
Re: Finding time - Posted by Rob FL
Posted by Rob FL on November 09, 1998 at 18:54:20:
I heard someone say once “Everyone has 168 hours in a week. The difference between you and a millionare is what you do with that time.”
If you don’t have one, get a daily/weekly/monthly planner to help you organize your time. I work 50 hrs a week at my job 8-6 or 7 or later usually Monday thru Friday. Very rarely do I go out to eat during lunch. (I brown bag it and work MY business NOT my bosses) I spend coffee breaks and lunches making calls and working real estate (one hour lunch and two 15 minute breaks a week equal 7 1/2 hours of time during weekdays that I can get on the phone or go look at properties). I also set aside certain times when I am off work to do the business. I am on vacation from work today and have done about 16 things for my business. Maybe you need to plan your time better.
Re: Finding time - Posted by PBoone
Posted by PBoone on November 09, 1998 at 17:41:34:
Time is our most valuable tool in any business. From the sounds of it yours is taken with the other things in life that bring you joy and that is great.
I for one spend my time investing, but I transitioned into it. Like you I spent time playing executive making everyone else more money than me oh I built businessess closed deals even spoke to others about how to be a success, but there was this nagging sensation each night to do something different.
I spent what little spare time reading the paper and making offers. Over about a 1 year span I had some properties and tightened the budget belt buckle and said ok its time. I DO NOT RECOMMEND THIS FOR ANYONE. It has been a difficult process, but I have to say it is one of the most interesting experiences yet.
With this time I can honestly say when I get up and I need some cash I KNOW I can go do a deal. it is really that simple.
Re: Finding time - Posted by Stacy (AZ)
Posted by Stacy (AZ) on November 09, 1998 at 16:56:31:
Just to be clear, this is a different Stacy (from AZ), and I for one have no time management problems. Job, Kidz, Significant Other and Exercise get top priority. And then I have the ENTIRE amount left over for REI. Probably averages well over 5 hours per week! Don’t even try to hold me back…I’m on my way.
Seriously, I wish there was an easy answer. At times I have to give up other things to do a deal, such as use vacation days from my job. I feel very limited in what I can do. I have been very tempted at times to do what Ed Garcia recommended at one time: quit the job and focus on REI. There are many that would agree the only way to do it right is to commit 100%, and the only way to do that is to focus on it 100%. In other words, are we really just holding ourselves back out of fear? I hate that possibility, but it is right there “looking at me in the mirror every morning”.
Interesting question that applies to most of the beginners out there.
Re: You load 16 tons, whadda ya get? - Posted by Stacy (AZ)
Posted by Stacy (AZ) on November 10, 1998 at 14:17:41:
Good reply, as usual, Bud. This is the point that jabbed me, personally:
“Are you willing to make lifestyle changes to accomplish your goals?”
I’ll be thinking on that one a while…
Re: Finding time - Posted by Matt B
Posted by Matt B on November 10, 1998 at 05:38:40:
I feel limited in the amount of time that I can commit to investing as well. I work at a job that takes me a little over an hour to drive to, work a MANDATORY 10 hour day, then drive a little over an hour to get back home. After reading Rich Dad, Poor Dad, I have been working on a plan to quit at the end of the year. While I don’t have nearly the amount of experience that a lot of people on this board have, I see this as the only way to escape. I dislike the fact that I commit so much of my day to earning someone else money.
I have only gotten a taste of investing so far, but I make such huge strides when I take a vacation day off. I make tons of calls, look at properties, write offers. and on and on. I can cram so much REAL work into the time that I waste at “work”.
I realize that this is a big step especially since I plan to get married soon. I simply cannot allow yet another excuse keep me trapped, though. I remember the time, not that many years ago, when I found that the only place that I had to live was a Salvation Army homeless shelter. I learned right then that I could succeed at anything. (No, I’m not talking crazy now, bear with me.) I had so many plans as a kid for college, inventions, projects, etc. Yet somehow I ended up on a bunkbed, pennyless, next to a guy that was being tested for tuberculosis, who was coughing my direction. I was probably at my lowest point then. It was then that I started thinking that the only “relief” from the “pain” of life was death.
Fortunately, I snapped out of that stupor and realized that I did not belong there with the people who did not have the ability to think or act in a way to MAKE their life happen instead of letting it happen. I have that ability. I’ll bet the majority of people who read this will have it too.
I only had to know what I wanted to do (I knew that since I was 12) and TAKE ACTION!!! The moment that I took action, EVERYTHING changed! It was a slow upward process, full of little setbacks. I learned to laugh off adversity since I thought, “I’ve been through worse!” And the real interesting thing is that EVERYTHING that I wanted to do, I succeeded at!
This does not mean eveything came easy. It means that in some cases, I learned 57 ways how NOT to get what I wanted. All I had to do, though, was stick to it, regroup, replan, and KEEP TAKING ACTION!
I expect setbacks. IF living off of investing was easy, wouldn’t everyone be doing it? I expect to be told it can’t be done. (Been told that about everything I’ve accomplished. By some seemingly intellegent people, too.) I’ve learned something, though, on my way out of the street gutter up to my current position as a computer systems administrator for a large manufacturing firm. The ONLY thing that you need to do to succeed at anything is to TAKE ACTION! That’s it! I have never failed at anything that I have tried to accomplish with that principle.
If you knew that whatever you tried to do, you would be successful at, what would you do? I plan to live a life producing wealth for me and my family, and not an employer, how about you?
Re: Finding time - Posted by Chuck D
Posted by Chuck D on November 09, 1998 at 22:04:08:
It is an interesting question. Sue and I have answered it this way. We are selling a small web publishing business, our gift business is going to be run by Sue and I’m going to devote full time to REI. I’m in the learning stage now, but we decided that we don’t want to look back years from now and say what if.
Who knows if we’ll be successful. We are planning on it, but we will have no regrets regardless of how it turns out.
This course is certainly not for everyone, but after the last six years we decided that we needed to take a bold step.
Hope this helps someone.
Another day older and deeper in debt! - Posted by hk CA
Posted by hk CA on November 10, 1998 at 18:49:26:
And while you’re thinking about it, others are taking action and improving their lives
Re: Finding time - Posted by Jphn Probst
Posted by Jphn Probst on November 11, 1998 at 10:53:47:
Matt- I just have one thing to say about your story- YOU THE MAN!!!
What are your next plans? - Posted by HR
Posted by HR on November 11, 1998 at 07:58:02:
You have a very moving personal story. With your attitude, nothing will keep you down. Great going!
Have you thought about how you could maximize your present situation? For instance, do you buy tapes and listen to them during your commute? What is your plan for re investing given your limits/opportunities? Are you looking at properties between your commute points? Using the computer to search the net at work?
Wishing you much continued success,
Re: Finding time - Posted by Frank
Posted by Frank on November 10, 1998 at 08:28:00:
Very inspirational for those of us who just can’t seem to get started. Thanks a bunch
Re: What are your next plans? - Posted by Matt B
Posted by Matt B on November 11, 1998 at 08:59:28:
I do exactly what you mentioned. Although, instead of buying the tapes for that long commute, I borrow them from the library. I have done the majority of looking at deals that are about midpoint between work and home. I use the internet extensively at work to seek out opportunities. I have used it to place free ads advertising that I sell mobile home with seller financing, (got about 10 responses that way) look at online ads, and read this awesome newsgroup. (Hey, I am a computer administrator, so it looks like I’m working hard. Also, I don’t have the same zippy T1 connection at home.)
I learned that the way to solve a problem is to take action. The more action you take the better. I would always prefer more options than less. This has not been a “I hate work so I’m quitting at the end of the year” decision. While I don’t have my complete plan in place, (re-investments given limitations of no job) I have enough of a plan in place to point me in the right direction, but the key is obviously to take action instead of taking the rest of my life to plan the rest of my life. I’d much rather LIVE it!