I have $5000 and the CS course help! - Posted by Jeryl

Posted by Jim IL on March 11, 1999 at 17:52:13:

Dear sir/mam,
Go ahead and drop me a line. I attempted to answer your e-mail but the account came back as non-valid.
My E-mail above however is real, so drop me a line by clciking on my name, and I’d be glad to speak with you off the board via e-mail.
I can then send you my contact info and vis versa.
Networking would be great.
Looking forward to hearing from you,
Jim

I have $5000 and the CS course help! - Posted by Jeryl

Posted by Jeryl on March 08, 1999 at 10:28:06:

me and 2 friends have 5000 in our banks and want to do RE! what should we do? i know RE is the way to go and we all agree! but we need a mentor! i thin having 5,000 in cash is a very good oppornity… I am a senior studing Computer sicnece my brither is a reent grad and insurance guy at GIECO and my other friend is a student! OUR CREDIT IS SOOOOO bad however we cant even conveince a BUM that we have 5 cents to give him! so credit is not good BUT! that is not a probelm is it!? we have 5000! anway we are all very excicted but totally lost…we are reading fast as we can CS but we need loot fast folks! any advice u got i would loooovvveeee it…turn 5,000 into 100k by the end of the year

jeryl thx

Here is a SERIOUS answer (long) - Posted by Jim IL

Posted by Jim IL on March 10, 1999 at 10:17:58:

Well, frankly I WISH I had been in your situation at your age.
The first thing you should do, has NOTHING to do with your money.
READ and LEARN! Consume everything this site has to offer. Read the articles, goto the Newsgroup and chatroom.
Now, what to do with your $5k?
Well, IF I had that money in the beginning, I would be much further ahead than I am now. I would have first determined my immediate goals. ie: "Do you want long term cash flow, or CASH NOW?
Then determine which course will help you achieve that.
If you want CASH NOW, purchase Ron Legrands Book on “Fast Cash with Quick Turn Real Estate”. Read it! TWICE!
Then, buy his course on Wholesaling. (it is worth EVERY penny)
Study it, and absorb it!
Now, go DO! Exactly as the course says.
When all is said and done, you will have approx. $4500 left over.
Also, consider attending a “boot camp” or Seminar on the topic.
Ron has many, and they are great.
I went to the convention in Dallas, and would do it again 100 times.
I’ll tell you this, I’ve learned that the biggest cost is NOT spending money on Education.
I was once very interested, and I thought motivated, but realized quickly that I was AFRAID, and the FEAR KILLED my MOTIVATION!
I talked to MANY people about the convention and was convinced that this would “get me over the hump”. (I was right!) But, I also did not have the cash to attend the convention, (so I thought).
I bought Legrands “quick turn” book ($12 at amazon.com) and then started making offers.
I became discouraged because my first 10 offers came back REJECTED! But, you know what? The 11th offer was accepted!!
We closed and netted $10,800 (see my success story, “Burned out cop makes $10k+ on first Deal”).
Well, over the years (yes years, FEAR really held me back), I purchased Carleton Sheets Course, about 10 books, and a computer, (to search the net for info.)
In my old way of thinking, I spent a small fortune.

Well, here is the result of “kicking the fear away”.
Total expenses to date, (again, over years):
CS course: $250.00
Books and other misc:$300-$400
Computer:$1500.00
Business cards, flyers, ads:$300.00 (per CS course)
Total: $2450.00 (before Dallas Convention expenses)
Then add in the Dallas Convention expenses of approx. $3000.00 (includes, convention admission for 2, airfare,Meals and all the material I bought there)
New Total: $5,450.00
Here is the GREAT NEWS!!
My first flip profit: $10,800.00
minus total expenditure on education:$5,450.00
Still ahead: $5,350.00

So, do you think my expenses are justified?
I certainly do, plus the ADDED BONUS of the education still paying off on future deals.
I returned home late Monday night from Dallas, and am already writing and submitting offers, (while listening to and studying all the courses I bought in Dallas)
IF, I get just one more deal (and I won’t, I’ll surely do MANY more), for $5,000 minimum profit, where do I stand.
Well, I tripled my money!!! (again, the minimum expected)

So, “Go invest son”!

That is the BEST advice you will EVER get!
Invest in yourself, not in Property.

It DOES NOT take money to make money. (well, not much money anyway, when you see it relative to the outcome)
But, you won’t know that until you know what to use.

As for proof, well, I’ve got it, right here!
I photo copied my first check, and hung it on my home office bulletin board. It serves as inspiration and reminder that I CAN DO THIS!
I met many of the people here in Dallas, and I’ll tell you this, THEY ARE REAL! and REAL NICE! (VERY Charitable with knowledge)
They share unselfishly, and we (my wife and I, we both went to Dallas) are eternally grateful.

Will I make money? Of course! I cannot help it.
It is kinda like “wondering what it would be like to swim in a pile of money”.
You will NEVER know until you move full steam ahead, and jump right into it!
So, I am off to RUN and jump into this GREAT world known as REI.
First with “flips” for cash, and perhaps later with other venues.
All the while, continuing to study EVERYTHING I can get my hands on! (Education will NEVER stop!, per the BIG GUNS, who are doing and teaching)

I hope this helps.
I know, that had I NOT read and listened to the people here and thier experiences, I would still be wading in the “kiddy pool”.
Thanks to them, I am now “Hot on thier tail” and gaining ground daily.
Good Luck and Work HARD! It does pay off,
Jim IL

Re: I have $5000 and the CS course help! - Posted by Carmen

Posted by Carmen on March 09, 1999 at 18:04:40:

First, not to disparage anyone, but don’t listen to the naysayers (including some notorious ones on this board).

Second, make sure you understand this is not a “get rich quick” deal and it DOES take a lot of work (but if you are going to spend 40 hours a week working for someone else, 40 hours a week doing this could get you well into the six figures within a year - and your net worth would be amazing!)

Third, educate yourself on the gazillion ways there are to make money in real estate. Do not get into the “oilslick” stage and try to do everything at once - you will be tempted, but resist.

Fourth, choose your immediate goals. (e.g. do you want cash now, or a cash flow for the long term; can you wait a year or two for your cash, etc.)

Fifth, concentrate on one or two things that will bring you what you need immediately (e.g. if fast cash is the answer, do flips - you don’t even need any money for those). Do not be tempted to jump ship until it becomes a conscious decision - “OK, I’ve done 6 flips and have $18,000 in the bank; now I think I will try to buy a rehab property” - then study that area and make sure you understand all the pitfalls.

Go on from there!

There are wonderful articles, worth a lot more than any one particular course, on this web site for FREE! Once you’re ready, I recommend reading as much about real estate as possible, and purchasing as many courses as possible - invest in your education. Also, go to or join your local investors association. The contacts you will make will be invaluable.

You will make mistakes, and you will learn with time to separate the chaff from the wheat - but even if you only learn one thing from each course/book/seminar/meeting, you will be miles ahead of everyone else.

Good luck to you. Sorry this is so long!

Re: I have $5000 and the CS course help! - Posted by Brian

Posted by Brian on March 09, 1999 at 13:45:50:

Save your money. This website is nothing more than
a big infomercial about their many different products.
Before you buy an expensive course from anyone here
at this website, make sure that the expert actually
does own real estate and that they actually do practice
what they preach. Ask for PROOF, they won’t give it.
Whenever someone asks for proof, they are attacked.
Gee I wonder why? What do they have to hide? Do not
trust anyone here at this website. The idea of getting
something for nothing is always appealing and the
people at this website will take advantage of that
fact!

You’re kidding us, right? - Posted by Rose Leopaldi(CA)

Posted by Rose Leopaldi(CA) on March 08, 1999 at 18:03:12:

You just blew it. You could have spent $495.00 to attend the convention. Then you’d have the rest of your money to NOT use in RE deals.

If you’d have been there, you’d know how to start without using money…

To paraphrase Lonnie (if you don’t know who Lonnie is, then you’d better get off this board and hang out in News Group I):
What’ll it cost you to NOT know?
Answer: $5000!

Now, what are you going to do to recover??

(Just a friendly kick-n-da-behind!!)
Rosie

plz excuse all the typos and misspelled words :stuck_out_tongue: - Posted by Jeryl

Posted by Jeryl on March 08, 1999 at 10:28:50:

nt

words cant express how seriously i took your post :slight_smile: - Posted by Jeryl

Posted by Jeryl on March 10, 1999 at 20:18:51:

after i type this im going to amazon and ording that book! and one on wholesaling…i jsut met with my friends again i told them about this site and how enspiring it is yo success story is very good man i hope we have the same, im a do’er bud! im very new to RE but MARK MY WORD FOLKS! I WILL OWN THE WORLD IN 10 YEARS!

jERYL thx again jim

Re: Here is a SERIOUS answer (long) - Posted by Henry

Posted by Henry on March 10, 1999 at 15:36:58:

So far, I’ve noted that people just want to find an easy way out of their comfort zone, however, opportunity comes disguised as hard work. The information is outthere. Read it and absorb it as Jim says, No one is going to teach somebody how to handle your inner drive to succeed, yes, there will be obstacles along the way, and this is what all this negativity about the courses is all about, overcome it and be persistent… focus, if you chase two rabbits
one is bound to get away,
Also thank you Jim for your brilliant explanation of what to do with the 5k , it has helped me to go at it.
I’m looking at this real state info for the first time, and let me tell you , I’m going for it,
Thanks again Jim , bye…

Thank You for your post Brian - Posted by Dirk Roach

Posted by Dirk Roach on March 13, 1999 at 09:09:26:

It always reassures me when I see a post like yours. I am glad that there will always be someone whom will live in one of my mobile homes, or fetch me my gas (only 92 octane please, oh don’t worry about which tank to use, the Jag has two), and get me hot coffee when I’m running late to a deal and have to zip through the McDonald’s drive through.
I’m not trying to slam you, but I can see from your post that you really need that eye opener experience. I would suggest reading “Rich Dad, Poor Dad” or “Cashflow Quadrant” by Kyrosaki. You need it.
As to everyone else (who is new) and reading this,
Just remember that Misory Loves Company.
And also I have plenty of mobile homes for everyone.
But seriously good luck to you all, and yes even you Brian,
Dirk Roach

Thank You for your post Brian - Posted by Dirk Roach

Posted by Dirk Roach on March 13, 1999 at 09:08:26:

It always reassures me when I see a post like yours. I am glad that there will always be someone whom will live in one of my mobile homes, or fetch me my gas (only 92 octane please, oh don’t worry about which tank to use, the Jag has two), and get me hot coffee when I’m running late to a deal and half to zip through the McDonald’s drive through.
I’m not trying to slam you, but I can see from your post that you really need that eye opener experience. I would suggest reading “Rich Dad, Poor Dad” or “Cashflow Quadrant” by Kyrosaki. You need it.
As to everyone else (who is new) and reading this,
Just remember that Misory Loves Company.
And also I have plenty of mobile homes for everyone.
But seriously good luck to you all, and yes even you Brian,
Dirk Roach

Sorry, I can’t ignore Brian - Posted by George

Posted by George on March 11, 1999 at 24:23:04:

You must be kidding! I’ve been coming to this site for well over a year now and am still amazed at how helpful 99% of the people here are! Of course there are some people that just try to stir up things, but that’s just the law of averages. Many of the most helpful, respected people that post here are not selling anything. They are merely suggesting a course, book, tape, etc. that they purchased and had success with. EVERY course I’ve purchased, EVERY seminar I’ve attended, I got something out of it. To spend $200 on a course, you make that back many times on one deal. On my first deal, after the CS course, Sheets methods enabled me to get seller financing, 90 days to first payment, seller to pay $1500 for a survey (long story why so expensive), and a comfort level that allowed me to close without an attorney. In fact, I haven’t paid an attorney, yet. I’m not saying I never will. So far, none of the deals I’ve done were that complicated that I felt I needed an attorney. I have used attorney for two potential deals that fell through, but NO deal - NO bill. So, as Lonnie would say, “What’s my return on investment?” “Good enough!!!”

To Brian and all who have read his reply. - Posted by Jim

Posted by Jim on March 10, 1999 at 14:11:47:

Brian,
I understand your skepticism, unfortunately it is programed into most people at an early age… However, allow me to share my story with you. I am now 26 years old. At the age of 20 I became a franchisee of, (with none of my own money, just to partners)a prominent Mailing Franchise. At the age of 23 with zero money, and offering no collateral, bought a Strip Club. Last May I sold the club and have spent the time up to now enjoying my time off and, “resharpening the saw” to quote Stephen Covey (The seven habits of highly successful people,) While spending my time as a full time father to my one year old son.

I have only had one quarter of college level education (Two Classes: Bookeeping,Poly-Sci) and that was only to help me get my High School Diploma at the age of 20! My credit could not be any worse. Having “run with the wrong crowds in my teenage years” My credibilty with most successfull members of my community had been somewhat tainted. My succes to this point could only be attributed to Three factors:

  1. Understanding people and making a sincere attempt, to learn about people, and understand their viewpoints.
  2. An uncompromisable understanding of where I want to be in the future, and excepting nothing short of the path to get there despite, the sacrifices.
  3. Always be on the lookout for an honest business oppurtunity. And a lesson I learned with the strip club, Make sure that the business oppurtunity does not tax your personal belief sytems, despite its profitability.

Being an Entreprenuer requires a certain mind set, an understanding that anything is possible. You sometimes have to search longer for the recourses to make something happen.
I have many times used the “Now that My back is against the wall, with my commitments, I had better come out fighting.” as a way to gain leverage on myself and maintain motivation and to keep searching for ways to do things.

If Self Employment, Sound like a great path for you, I would Highly Recomend the following Books that may help YOU on your journey:
“Notes From a Freind” (for that matter any of the books by…) Anthony Robbins
"The Seven Habits of Highly Effective People" Stephen Covey
"Think and Grow Rich" Napoleon Hill
"How to win freind and influence people" Dale Carnegie
Brian, Last but not least…
Please never tell another person never unless you fully know that person…What he is Trying to do…Someone who has succeded at it…and someone who has failed (unfortunately the last is all to easy to find, because to many people quit to early.

Thank you for your time. And feel free to ask any questions, or reply
Sincerely,
Jim

Ignore Brian - Posted by Rob FL

Posted by Rob FL on March 09, 1999 at 22:35:36:

Don’t listen to Brian. Him and Steve Meiners probably are in the same fraternity.

Obviously, it is very rare to get something for nothing. Most of the successful investors I know whether it be RE or stocks or whatever have worked there tail off and spent thousands of dollars on education. (Of course think of how much people spend on college to get a job and then work years to pay off their student loans).

The concept is that you can either work hard and spend money and make your boss rich or you can work hard and spend money and make yourself rich.

And yes I have done plenty of deals (as have most of the regulars on this site). If you really are desperate for proof e-mail me, otherwise read the articles on this site. Acquiring education and then acting on the education is the key to making money in this business.

And you’re an idiot Brian - Posted by Buddy

Posted by Buddy on March 09, 1999 at 19:28:35:

Who do you think you’re influencing? Most of the people here are a family. We know the truth. Go do your 9th
grade homework.

i dont plan on buying a course…just advice what to do with 5k - Posted by Jeryl

Posted by Jeryl on March 09, 1999 at 18:22:45:

most of the post i read seemed pretty positive i ddint get the impression that these peopel are working for Carlton Sheets or whatever…i really am seriously asking peopel for advice What would u do if you had $5,000 in cash! and hopefully some expereince realste guy will respond:)

im sorry man but what the hell are u talking about? - Posted by Jeryl

Posted by Jeryl on March 08, 1999 at 18:42:37:

We have 5000 in cash like at this momment and asking for advice what to do with it in RE to make alot of money…

Re: words cant express how seriously i took your post :slight_smile: - Posted by zooets

Posted by zooets on March 10, 1999 at 22:34:31:

You won’t own any large portion of the world though, if you approach REI with the same attention to detail that you give to your typing. Just look up at the screen once in a while before hitting enter. I promise you it will help. GOOD LUCK!

You missed a book - Posted by Jim IL

Posted by Jim IL on March 11, 1999 at 24:06:20:

Jim,
Your list of reading material was great, and I agree with it whole heartedly.
There is one book that I recently read, and had the pleasure and honor of actually meeting and talking with the author of (at the CRE convention).
That book is “Rich Dad, Poor Dad”, by Robert Kiyosaki.
This book truly has changed my life. I am now on his second book, “The Cashflow Quadrant” and am getting more reved up by the page.
Good luck and congrats at being a full time Dad.
I do the “father thing” as well, with my 10 year old Daughetr. I’m 30 and happier than ever before. For me, my wealth is my freedom, and REI is my insurance policy to continue that Freedom.
Take care,
Jim IL

Well if yoru not going to buy a course then buy a book…You need it - Posted by Dirk Roach

Posted by Dirk Roach on March 13, 1999 at 09:29:00:

Hi Jeryl,
There is hope, I can see that your fairly new (and there is absolutely nothing wrong with that) from your post(s).
Pick up books, my friend. Frankly 5k is great to start out with, but it isn’t nessicary at all.
What you are communicating from your posts is that you want to “Get Rich Quick” which again there is nothing wrong with. However it’s not going to happen, (barring winning the lottery or somesuch and I can bet that if it did it would be gone, really quickly). It seems to me from your post(s) that you need to understand cashflow management. Never work for money, let your money work for you. Very important statement. What you’re wanting here is a magic wand. It’s not going to happen.
I mean this in the best possible regard. READ! No one is saying go buy a course, but read and learn. Read the how to articles again and again till it clicks (it will) and although you might be a little hot under the collar now (at me) I know you won’t be when you have honed your investing machine to the point that you have CASHFLOW coming into your wallet without any effort at all. Being Rich is a pain in the backside, if you don’t have proper cashflow management. However having Freedom is bliss. Freedom to do whatever you want, whenever you want. That is pretty good.
Good luck and feel free to email me, but only after you read the how-to articles over and over till it clicks,
Dirk Roach