Re: Should I or shouldn’t I? - Posted by Jeff
Posted by Jeff on July 10, 2003 at 17:24:53:
I am usually asking questions instead of posting, but this is the way I see it. You can do whatever you want to do. First, as Lonnie has posted, the attitude is foremost. If you belive it, and want it bad enough (yes, for every reward there is a price), ALL YOU HAVE TO DO IS TO TAKE IT! It’ is there for you…your prosperity ALREADY is yours, you can can claim it or you can give it away by not paying the price for it. Second, you can do something about the living paycheck to paycheck. You have got to learn to live within your means AND THAT INCLUDES putting aside some cash so that you will be able to take advantage of a deal when it comes along. Yes, you can buy with no money out of your pocket, I have done it. But, ther are going to be times that a deal will require some cash. Third, although this is a RE investing forum, there are other ways to make money than Real Estate. To begin building your cash reserve, use the same principles we in RE investing use…Buy Low, Sell high. Works every time… And I still do it on other items. I will take $400 and buy an old pickup truck as soon as I can write a check if I feel I can sell it reasonably for $800. Hey, any old truck that runs should be worth $800 to somebody. Next…THIS IS THE IMPORTANT PART…DO NOT SPEND THAT $800 on a night out. Use that $800 to buy something else to resell, etc. My brother says I am crazy for some of the things I have bought, others he says I’m lucky. Crazy, maybe…Lucky, no way! The way I see it is that my Brother likes to fish, if he does not have his line in the water, he will never catch a fish. I fish, too…I just fish for different types of “fish”. Have I ever bought anything that I wish I had not bought? You betcha! Will I do it again, probably…no, definately. I expect to make mistakes. I WILL NOT beat myself up for making a mistake, AND I will learn from my mistakes. This is a promise I have made to myself. So, it is up to you. What decision are you going to make? It is your future, YOU have to take it into your hands and create it. I know this sounds trite, but honestly, it is the same thing I tell my 20 year old Son. It is YOUR future, it depends on the choices YOU make today. You will get some benefits from the CS course, just like any book or class you will will ever read or take, some of the things you learn will work better FOR YOU that others. Personnally, I like the Mobile home section. The one thing CS WILL do, it will expose you to a broad and general knowledge of several areas of RE investing. Then, you should pick one area and do more research on that area. You do not have to (nor can you) know everything about every technique. Pick one, do more study on that area. You then have one tool in your “toolbox”. Pick a couple more areas to specialize in. If you have three tools that you feel really knowledgable and comfortable with, YOU WILL SUCCEED… UNEQUIVICALLY, and just as certain as the Sun sets in the West…You WILL SUCCEED. I went through CS material and found I wanted to learn more about the mobile home side of RE investing. I learned from this site that I should read naything with Lonnie Scruggs name on it. Next, I bought Ernest Tew’s material. Each author had some items that worked well for me, and some that I decided not to use. I do have an extra copy of the Carleton Sheets material I bought that I will sell for $75 if you decide to get his course, it is last years material (Blue cover). Or, you may be able to find a good used copy from ebay for a lot less that retail. Keith, you have to commit to reading any course you buy, but the real committment is that you have to work at doing the things from what you learn that will make you successful.
Best wishes to you as you take that first step!