Re: I want a house - Posted by del-ohio
Posted by del-ohio on October 10, 2003 at 17:02:15:
Some good advice from the previous posts so I will briefly comment on this statement
>A little background: No college education (1 year); not huge money making potential
I have less college than that, didnt graduate from High School. Went and got my GED when I was 24.
Started bagging food in my brothers business when I was 22, after an accident where I lost my ability to walk for a month. I lost my job, my younger brother felt sorry for me and paid me to bag food for him at his small retail shop for a couple month while I recuperated. He had me “cover the floor” at times as well to help out with customers.
After a few month when I was ready to go back to work, he asked me if I would stay and work in the store. He offered me enough money to pay the rent for the trailer I was living in, gas money for the rusted mustang, and a little for food. I agreed to stay for a while if he would give me a raise soon if I did well.
I worked my butt off, read and read and read everything I could get my hands on about the business. It grew, I got a raise, and a few years later he gave me 25% of the business to keep me there.
Five years later he sold the business to me no money down on a “land contract”. I made my last payment about five years ago.
I, as a single parent, raised my daughter while I was running and growing the business.
I played with real estate some, 20 years ago, after I read a couple of Robert Allens books. Actually bought my first property no money down, the day after I read one of the books that came as study material to prepare us for the boot camp. I didnt have any money at that time and very bad credit, I talked a friend into partnering with me on a “deal” I found. Profited 3,500 and a 750 Yamaha motercycle. I was in heaven.
I did a couple more properties during the next 15 years. Started and sold a few small businesses during that time. The last one in Janurary of this year, all the while keeping the original business running.
In Jan 2003 my brother and I decided to become active in doing real estate, it has done so well that I am in the process of selling the “family business” and focusing on real estate full time.
Since Janurary we have purchased 14 properties, we have three waiting to close on and two offers pending. Business and real estate have done VERY well for me. I know a lot of people (I have thought about writing a book profiling them) who have become very successful who do not have any college.
If you want to be an accountant, an attorney or a physician, by all means you need a degree. But ability and knowledge is much more important than a degree.
I am not downplaying the importance of a college education, it really depends where you want to work, and what kind of work you want to do.
How to solve problems, how to get results, and how to be effective and efficient are the skills a person needs, if you acquire these you will have all the potential you need to do REALLY well without a degree, especially if you then learn a skill/trade and focus your talents on it.
If you can get results, you can get a very good job (not everywhere) but in a lot of places. Or you can hire the people with degrees to work for you.
Serving on varoius boards and committees over the years I have discovered that most people with degrees, have more respect for people with a lot of ability and no degree than people with degrees and little ability.
So dont sell yourself short. Keep your eye on what you want, figure out how to solve a few of your current problems and focus on something you like to do and do it well. Life will start looking up. And once you make it work you can always go back and get some college. I am heading there in Janurary myself, not because I have to to succeed but because I want to.
I wish you well in life and in finding a house. May all your days be interesting.