Posted by Mel St. petersburg FL on May 07, 2000 at 20:57:28:
Allen, Id like to preface my comments by saying Im no pro. But I can really relate to your story.
Like you I grew up in poverty. Like you I decided that I would do “whatever it takes” to make it in real estate.
I had no money to start out with, in fact, I had to borrow the $100 earnest money deposite to do my first deal. Now I have quit my job (although maybe a bit too soon) and am “full time” in the biz.
I have found the “magic” diffrence between the successful investor and the wannabe. It is simply action. Action is the only thing that is diffrent about me now from when I was where you are. And I was there for about 3 years!
As far as no money down deals, YES they are real!!!
I have done 5 deals now including the 2 I got last month, and the last one that I got will be the first one that I will come out of pocket with any money. If I wanted to I could “flip” that one too.
One last thing, its the best thing that you can do (in my opinion). Get around people who do it. Until you do your never really going to believe its real. It is!!!
The only thing I regret about getting into RE investing is that I took so long to get started. If I had started when I first learned the tools, I’de be worth a million dollars today. And thats realistic!
Anyone can do it if they will take the ACTION. Again Im no pro but this is what my limited experience has shown.
Any of you pros want to back me up on this?