Posted by Steve (FL) on February 02, 2000 at 10:26:17:
Posted by Steve (FL) on February 02, 2000 at 10:26:17:
This is hard with a FT job. How did you pro’s do it? - Posted by Steve (FL)
Posted by Steve (FL) on February 02, 2000 at 07:14:35:
I know the benefits, I’ve read the books and I read the posts and I’m going to do this, but…this is really difficult when you work 7-4 everyday! And raising a family on top of that! The worst part is finding time to do research at the courthouse and meet cotracters during “normal” working hours. I work 35 miles from where I live, so leaving to meet someone is a 1/2 day affair.
Fortunatley, I can read this forum during the day (which I’m sure I’ll get in trouble for sooner or later) and my wife stays at home with our 9 mos old. She can at least run and pick up tax cards for me occassionally. By the time I get home, spend some time with my daughter and do dinner, etc., it’s 9:00. I try to work at night, but getting up at 5 takes it’s toll on my middle-aged body earlier and earlier these days.
I have every other Monday off, but it just 'aint enough!!! I’d love to quit and dedicate full-time to this, but I’m not that crazy. Does anyone else have this problem? Just needed to vent. Time-saving suggestions welcomed.
GREAT Responses! Thanks to all for the boost! (nt) - Posted by Steve (FL)
Posted by Steve (FL) on February 03, 2000 at 08:25:14:
For the Left Brain: CASHFLOW 101 by Robert K. - Posted by ChuckP
Posted by ChuckP on February 02, 2000 at 23:08:41:
If you want to get your family involved and show them the BIG PICTURE, I strongly recommend Robert K.'s CASHFLOW 101. The game is chock full of RE transactions and gives you a view of what you are really doing right now with the JOB. You should sit down with your family and play it. The game isn’t cheap, but it’s worth the $195 plus shipping to show you the BIG PICTURE and increase you and your family’s financial intelligence.
Chuck who BTW still has a full time job but will be unemployed by Feb 14. The website for Robert K. is www.cashflowtech.com
Re: This is hard with a FT job. How did you pro’s do it? - Posted by Rafael_FL
Posted by Rafael_FL on February 02, 2000 at 22:20:13:
I work 6-7 days a week. I work 9am-8pm M-F, 9am-7pm Sat, and 12-6 Sunday. I drive 30-40 minutes each way, and it is not uncommon for me to get home at 10pm. Of these days, I will get one off every week or two, usually Sunday. However, my job affords me a close to 6 figure income that has enabled me to pay down quite a bit of my debt, and allow my wife to stay home with our children. I often stay in this website until 2am chatting and saving posts to MS Word to read over and over again.
My wife located our most recent purchase, and in the few hours a week available to me we worked to put it together. It took 7 weeks, but we own a house for 66k that is worth 115k. We will move into it in 4 weeks, and rent our current home with 250/mo pos cash flow.
It is not easy, and sometimes when you are burned out from work, you just want to take a day off, but it becomes easier to quit everyday after that. Make it happen. I am. It will never be easier than it is right now. There will never be more time than there is right now. There may never be "enough " money to get started than there is right now. That is why it is called creative real estate. Just do it. I sat on the sidelines for 3 years (how I wish I had them to do over Good luck and keep reading these posts, and take encouragement from those who are doing, and those who will.
Vero Beach, FL
Re: Each way will be different - Posted by NB (ID)
Posted by NB (ID) on February 02, 2000 at 21:41:56:
Steve–I’m not a pro–just a newbie. However, when I started to watch this site I knew because of prior financial commitments and where I live (in the boonies)that learning and doing would be something I had to do on a day-to-day basis in addition to my job. There are days when I get frustrated (I haven’t had my first success yet although I’ve got several potential deals in the making), and it’s mainly because of other commitments. I just know that I will persevere and that I will have success as a REI. However, it will be at my speed (as a teacher I have to get a good nights sleep or I don’t have the patience I need with my students), and it will happen as my energy allows (sometimes after grading papers and/or making up tests, study guides, etc. at night my reserves are depleted). Don’t become discouraged (I have a negative thought now and then because things aren’t happening immediately), learn the skills you need and advance at your pace. It’s important to remember your priorities–waking up one day with a wealth of real estate investments will not make you happy if you lose your family in the process.
Many blessings and much success!
You’ve got it all upside down - Heres the REAL issue - Posted by JohnG
Posted by JohnG on February 02, 2000 at 10:01:10:
This question requires a total shift in thinking that is so profound that it is almost unreachable for most of us who have been taught to “go with the flow”.
You have it all upside down. You are looking at the hours of your day that are consumed by your job and that is becoming an obstacle to your freedom.
What you must do is put away the clock and focus on results. This is the key to getting out of the “rut” of the job mentality. You see, ever since we started to interact with others, we are trained to perform like a robot. You will get up at this time. You will go to work at this time. You will come home at this time. It always amazed me that in a land of untold opportunity we are told that when we choose a certain career - everyone in the country doing that job will earn exactly the same money. That just blows me away.
So, you are taught from day one to follow the crowd. Now you are attempting to break out of that group.
Do you have what it takes ?
Can you withstand the disapproval of your peers at work; your family; your friends and neighbours ?
Can you keep going when things take a turn for the worse and the deal from h*ell almost puts you out of business ?
Can you convince yourself that even though 99.9% of your instincts tell you that you should NOT be striking out on your own and trying to “do” this real estate thing that you can make it ?
Can you look at your kids teeth and think “How can I fix those teeth with no dental plan from work” and not talk yourself into going back to the security of the job ?
And last but not least, can you look your spouse in the eye and say "Dear, I know I’ve let you down in the past and things haven’t always worked out, BUT I need you to support me as I leave the security of my job, paycheck, benefits, etc. and venture out into the unknown ? Yes, sure, dear, I’ll follow you anywhere.
NOT LIKELY !!!
So, lets recap.
Our family is jeopardized; our security is thrown away; our neighbours think we’re nuts; our spouse is finally convinced that he/she has married a loser of unbridled proportions and even the family dog looks at us like we are gone off the deep end.
Now, you have to go out and pretend you know what you are doing and try and make this game work just like the pros do it.
Sounds like a real peice of cake !!! Let me at it.
Do you see where this is going ?
Only if you have the intensity, passion, stamina, drive and desire to wake up and stop being “average” does this work. And then all the questions about time and money and every other obstacle just evaporate into thin air. Your desire to be different means you can go 20 hours a day for a week if need be. It just doesn’t matter anymore - time has no meaning.
I am so fired up right now that I can’t stand it. I barely get by on 4-5 hours sleep a night and I have so much on the go that I am like a person on fast forward. I have replaced the old life of the job with the new life of being really and truly “independant”.
It was the hardest trip I have ever made and it is the most rewarding thing I have ever done.
(By the way - my kids are now on board cause I spend a lot more time with them and we have a lot more fun together. My wife is on side and she has a better partner and so do I. My family is still skeptical - even though I have put together a small empire (156 peices of property) - they are still waiting for the bottom to drop out. See how hard it is to change your thinking - even with concrete proof that it can work ? And my dog even likes me.)
Re: This is hard with a FT job. How did you pro’s do it? - Posted by Rob FL
Posted by Rob FL on February 02, 2000 at 08:30:08:
I am in a very similar situation as you Steve. I work 8:00 to 5:00 M-F. My job is a 60-minute drive each way from home. I figure that from 6:30a.m. to 6:30 p.m. during the week, the time belongs to my boss. On top of that I travel and am out of town about 1 week a month.
I have been doing this part-time for years. Most of the properties I work with are somewhere between home and work. It is not too difficult to go by them during lunch or before or after work. Florida is a growing place and there is tons of business out there available to you.
You really need to reorganize/prioritize your schedule. Consider getting a Franklin Planner or some other similar system for time management. Another thing is I have developed a system that works for me. I have trained my wife the basics of the system so she can cover me when necessary. Remember, if you want to make money, you have to spend money. If you want to have time, you have to spend time.
Re: This is hard with a FT job. How did you pro’s do it? - Posted by Tom in Cowtown
Posted by Tom in Cowtown on February 02, 2000 at 08:15:33:
Hi, Steve. I’m in the same boat but I work 2nd shift
3 to 11. That gives me my mornings off but with a brand new baby boy my mornings have been busy this last week.He’ll be sleeping longer very soon I hope and I can get back to work. I haven’t had that first big deal yet but I figure since I’m going to be here for awhile so I might as well have a hobby that pays.
There is no easy way… - Posted by TRandle
Posted by TRandle on February 02, 2000 at 08:14:01:
I feel your pain, but if it were easy, everyone and their mother would be doing it. I’m in a similar situation. It seems like our choices are to work out a system to manage and build our business part-time or to go all out as a full-time REI. In my mind, the lack of insurance, decline in standard of living, worrying about next month’s bills, etc. is not yet worth the additional time to spend on the business.
We started out gangbusters (5 deals in first 5 months), but then we had to pull back. Life was out of balance, we were scrambling with every deal, and family suffered. We’ve been active for a year come May and are still trying to find a reasonable balance.
I’ve seen posts from others (like Rob-FL) which have helped me. I think that once we get organized and learn to spend our time efficiently, things will get easier, and we’ll see much greater results with the same or less effort. My only suggestion is to have patience, realizing it may take us part-timers longer (depending on our priorities), and keep on keeping on…
Re: This is hard with a FT job. How did you pro’s do it? - Posted by Andy in MI
Posted by Andy in MI on February 02, 2000 at 08:10:53:
I feel your pain, brother. I am doing exactly the same thing, but I get out of work at 2 PM, fortunately. Keep plugging, my friend. Your efforts will NOT be for nothing. Oh, and by the way, I’m gonna get plenty of sleep when I’m dead. I refuse to let this life cheat me out of a long and prosperous retirement. Good luck.
Maybe it’s Limited Thinking But… - Posted by Scott (AK)
Posted by Scott (AK) on February 02, 2000 at 22:05:19:
My question would have to be…Why would anyone consider quitting their job when they have not done any deals.
I would think it wiser to spend the time one does have on educating themselves on how to do deals. I don’t see the simple fact of getting access to the information in the courthouse as a determining factor of wether a person can sign up deals or not.
If a person can’t make at least a few deals on a part time basis I just can’t understand how they could do any more with more time. In my experience that’s just more time to flop around trying to do deals.
What has worked for me is to SLOW down, work systems, and don’t try to be an “full service” investor tommorrow.
Having said that, I do believe there is a right time to make that step. That would ba after you have your education and the systems in place to support yourself.
That’s my approach.
Good luck in whatever you decide.
P.S. I agree with the needed mind shift. Don’t concentrate on the time you DON’T have, think of ways to effectively use the time you DO have. Learn to do deals that fit into your schedule. Working systems that get me in front of motivated sellers is what works for me. (Thanks JoeK!)
Re: You’ve got it all upside down - Heres the REAL issue - Posted by betty
Posted by betty on February 02, 2000 at 21:51:53:
That was great.I’m going to print your post.BTW if you don’t mind me asking,how long did it take you to get that many properties.
Re: You’ve got it all upside down - Heres the REAL issue - Posted by Marek
Posted by Marek on February 02, 2000 at 18:57:53:
I absolutely agree with the need to change our thinking with regard to finances.Personaly Iam doing the Big Change at the moment and need some help with Real Estate basics,especialy creating notes and buing foreclosures.I would truly apriciate some gaidance and suggestions.
Thank you Marek.
NICE POST!!! Thanks (NT) - Posted by Ed_IL
Posted by Ed_IL on February 02, 2000 at 15:25:52:
Tim and Kelly Randle–READ THAT POST!! - Posted by steph in tex
Posted by steph in tex on February 02, 2000 at 13:23:50:
steph in tex
Re: You’ve got it all upside down - Heres the REAL issue - Posted by Don in MI
Posted by Don in MI on February 02, 2000 at 12:40:08:
Thanks John!!! I am a newbie and plan on attending the convention on the 25th. I was hoping to find an answer about whether or not I should quit my job to pursue my dream of rei. Your post has answered that. Thanks again!!!
Re: You’ve got it all upside down - Heres the REAL issue - Posted by Jim LaVerdi
Posted by Jim LaVerdi on February 02, 2000 at 11:30:20:
GREAT GREAT POST!
This is exactly what I am doing right now! You have inspired me to realize that what I am doing is right. Everything you said fits my situation to a tee. It’s a little bit of a struggle , but ya gotta do what ya gotta do
THIS GETS MY VOTE FOR POST OF THE YEAR!
Re: You’ve got it all upside down - Heres the REAL issue - Posted by Coni(Or)
Posted by Coni(Or) on February 02, 2000 at 10:49:30:
I needed to hear everything you said!
WOW! Great Post – Please Read! - Posted by J.P. Vaughan
Posted by J.P. Vaughan on February 02, 2000 at 10:20:41:
Thank you for a GREAT post, John. I was a single mother
when I quit practicing law as a partner with a major
law firm to do real estate.
EVERYONE thought I was nuts!