Other Talents and Real Estate Investing - Posted by JS


#1

Posted by Doug on December 17, 1998 at 01:33:01:

REI is the best business to be in… It is set to your schedule and there is no time card to punch… Although the more you put in the more you will get out… Dont get discouraged… You can flip notes if you dont want to go around looking at houses making offers finding local investors to buy the houses, etc… With brokering paper you just need to find the owner financed deals which is pretty simple and sell them to the note buyers… Theres tons of info on this business and if interested drop me a line and I will send you some free info…

Douglas Timko

notes4sale@yahoo.com


#2

Other Talents and Real Estate Investing - Posted by JS

Posted by JS on December 16, 1998 at 15:35:37:

I believe I have talent for music and I wish I could have more time to dedicate to it. I don’t feel like I am a business person evethough that’s my major. I am not very aggressive, which I think is very important in this business of REI. I am trying to relate my skills to the business but I feel like I will not get too far. Maybe I need more motivation. Is there any artistic people who do REI in order to have the time for their hobbies.
Another factor that motivates me is that I don’t want my mother to work all her life. it seems like there’s a lot of potential for money in REI (I read Rich dad, Poor dad) but I feel like I am loosing it…
Anybody has a suggestion for a newbie here?
I want to learn how to effectively utilize my money despite my hobbies.
Thanks for your comments
JS


#3

Re: Other Talents and Real Estate Investing - Posted by Rob FL

Posted by Rob FL on December 16, 1998 at 20:01:44:

This is a bad quote from my Amway days: “You need a dream that you are willing to fight for. If you don’t have a dream that you are willing to fight for, then all you have is a fantasy.” The dream, your mom not working, your music is what is your motivation.

My suggestion is to educate yourself on either 1)lease options or 2) flipping properties. You need to develop a nest egg first. (Cash in the bank)

Happy Holidays and best wishes.


#4

Re: Other Talents and Real Estate Investing - Posted by MilNC

Posted by MilNC on December 16, 1998 at 17:12:41:

On the other hand, isn’t REI the donkey and the
carrot is the music? My donkey went lame (previous career)but I still have to get to where I’m going, so
I’m getting new transportation-a horse, a stallion that
will sire great offspring in addition to stud fees.
(I’m still talking about real estate!)

I’m sure I can learn about real estate. I study everyday.
I plan to do it so I can support my hobbies, too.

I also think, for the long haul, math is important.
What is discounting mortgages/paper other than math?
It’s not trig, and it’s not calculus.
I want to know as much as I can so that I won’t be
intimidated or scammed. It takes a little time to learn time value of money, and let it sink it, but once you’ve got it, it applies to everything. Same with music theory.
A diminished 7th is a diminished 7th, in all 50 states,
and all of Mississippi.
Endless ways to make a deal/endless ways to make music.

There is a high correlation between people who are talented in music and also in math.

As for aggression, consider substituting for it the concept of
being quick-acting. Aggressive does not necessarily mean “in your face” but relates to a time frame,
aggressive in seeking knowledge and solutions, aggressivly protecting your own interests, being
knowledgeable enough and ready to close a deal quickly. I have
learned from this board that you should be agressive
in protecting your own interests ahead of time,(make the money going in) by
analyzing the profit potential of the deal (math!!)
by knowing how to have a contract that protects you
but is also appealing to seller/buyer ( or others
as apropriate (selling the mortgage down the road) and knowing
when (like Kenny Rodgers) to walk away, in other words,
business.

Focus on your motivation-music and your mom. Your motivation is just as valid as anyone else’s, if
it’s important to you.

I feel that you have not found a niche yet, and that
you are comparing yourself with other biz grads and find that you depart from them on an emotional level.
I feel that you can find a niche somewhere on this board and in real estate investment and that very area is what will enable you to arrange your schedule in a way
that you can develop your music or anything else.
Don’t be put off by what appears to be not in line with your goals, just keep reading and I believe you will
find something that is.
I know this is somewhat of a tangent (oops-trigonometry!)
so if you want to email me feel free.

Hang in there.


#5

Re: Other Talents and Real Estate Investing - Posted by Landon

Posted by Landon on December 16, 1998 at 16:06:22:

OH YEAH!! I’m doing REI so I can buy my own theatre. I have not taken a math course since high school, and I had no clue what equity was till I studied a course. It takes so little time to do that it really is a spare time kind of thing. In fact one of my friends is working full time, in a band that is about to get signed, and still does REI (quite well I might add). Get on with your dream - REI is the carrot to guide your donkey there.