Posted by eric-fl on July 31, 2003 at 10:20:23:
Checkpoint is a good cert. You might want to consider getting a CCNA (one test), and then try parlaying yourself as a WAN/VPN type guy with security rolled-in, rather than as a pure security guy. You have, as I’m sure you know, several factors working against you. One is that you are in the Northeast, which is a terrible I.T. market right now, and the other that you were in security, but with no degree or clearance. In all honesty, I think it will be tough to get back into that game directly.
As for the guys who approached you, you need to ask yourself, “why?”, if they already have so many resources at their disposal? Is there something you bring to the table they don’t already supposedly have? If you don’t have a clear answer to that question, a healthy dose of skepticism is called for.
As to their having “a lot of resources”, let me guess - they can get all the lumber & tile wholesale, already have the tools, know-how, etc. I’ve heard all that before. The thing with those types of people is that they are hit-or-miss; in other words, when the time comes that you need them, they may or may not be available. After all, look at the title - JOURNEYmen, implying they go from one job to another. Not to put them down, in fact, I envy them - I just don’t think that’s the type of person you want to enter into a long-term business arrangement with.
As for the Real Estate gig specifically, you have come to the right place to learn. That is good, because you do have much to learn. I don’t mean that as a putdown, but, to answer your question, 15k per flip is nowhere near realistic. I also see you making a classic beginner mistake, one I made myself - you’re spending a lot of time on “research”, and looking for houses. Researching isn’t going to make you any money, and neither is looking for houses. It’s the sellers you are looking for - the motivated ones, who are willing to do all this crazy “creative” real estate stuff. They are a small subset of the total seller population, but they are out there. Your first job, as a real estate investor, is to find them. That’s where the money is.
In your situation, you should be focusing on strategies that will make you some money the fastest, and researching is not the way. Certainly, though, do read as much as you can on this site, and go to the library, bookstore, wherever, to learn even more. It would be hard to learn too much about the business, and certainly you should know more than you do now. So focus on learning, rather than researching, and then finding those motivated sellers in your market. And don’t forget my advice about a stopgap job from the previous post - find something, anything, that pays more than unemployment, as fast as you can, and preferably in line with what you want to do.