Posted by Tony on July 16, 2003 at 01:23:16:
Than-x a lot James, that did help. Ill explain it to my wife. Im sure it will help relieve a little anxiety. All this RE talk I?ve been doing over the past couple 3 months has really got her worried. But now more than ever. See before it was, oh he?s got him a little hobby he?s out driven around in neighborhoods looking at houses, calling people on the phone, isn?t that cute. But now it?s turned into a whole different scenario. $15,00.00 just came into the picture. Now red alert sirens are firing off left and right w/ her. And I can tell she?s starting to get real nervous. And there?s proubly good reason to be. And I can understand it. But I?ve made a decision to either do it or quit talking about it. And this to me isn?t a hobby; it?s real life stuff. These desions that I?m making right now will alter my entire future. Its not like I?m planning a trip out on the boat next week to catch some reds. That?s a hobby.
I?ve been planning to go into RE for sum time now. Its taken me awhile not because of procrastination but because I didn?t want to go into it w/ a low credit rating and little cash. I don?t care what I?ve heard or read from all those experts about none of my own money needed or any credit. I know that I?ll need something to fall back on if I get into trouble. So it?s taken me couple of years but I?ve applied some credit building techniques that have did wonders for our credit score. The only debts we have are our vehicles. All my credit cards are paid off every month and all the secured loans I took out have been paid back. So were right under 700 w/ our score the way its been going up here recently it should be at or over 700 by February (we plan to buy our first home in that month). So all the ingredients are as good as I?m going to get em for someone that?s as green to this business as the money I want to make.
Sorry about dragging this on, its just I don?t have a chance to talk to many investors except for my land lord which he?s sort of secretive about his RE dealings. But my wife and me are joining a local real RE investment club called jax REA. Our first meeting is next month. So hopefully that will help get us going and get to know other investors. Nice talking w/ ya!