Gearing Up for Success
Starting anything new can cause uncertainty for many people. I don't know if I just have more guts than most people or if it is my experiences that have taught me not to fear trying something new. When I was 21 I worked as a secretary. My boss called me into his office and gave me my new salary and thanked me for my hard work. The salary was in the low 20's but the last three digits weren't zeroes. I thanked him for the review and asked before I left his office if he could just round up that salary to the next thousand dollar amount. I don't even remember being afraid to ask--I just did. And much to my surprise, he said ok and I got a bigger raise than what was originally planned. Even in my profession, I've been known to make bold suggestions or come up with creative ideas--and most of them are received well by my peers and superiors. I know there are different kinds of people in the world and have taken a self-assessment of what kind of person I am, but I don't fall largely into one category or the other; but rather a share a blend of each type--somewhat resembling a chamilion. . . adapting to my environment. I decided back in November of last year to get into real estate investing and have spent the time since then reading, researching, and networking. I joined a local REI club and am thrilled to think where this will take me. I'm not just going to stick my toe in the pool, I'm diving in! If there are any other Newbies out there interested in forming a sub-group to keep each other motivated, I'd be interested in setting one up. When you aren't afraid of the answer, it never hurts to ask the question. ~ Lisa
Ironic that it was Gandhi and not The Donald who first said "if you don't ask, you don't get."
Asking questions + putting the information to practical use + trial and error = learning
Good for you, Lisa.
Great reminder Nancy! I am sure someone else even before Gandhi sad the same thing ( maybe his father) but what's important is that we should do the same. Right? Keep asking the questions. Yea. Did you join the new women group Lisa is starting on... how to say.. here: http://www.thecreativeinvestor.com/modules.php?name=News&file=comments&op=Reply&pid=2261&sid=510&mode=nested&order=&thold=
Jo
"Anger and intolerance are the twin enemies of correct understanding", DealerJo.
Hi Lisa,
Like you, I am also new to REI. I have been studying this stuff for a little over 6 months now and am eager to start. I feel that I am at the point of overload with courses, books education materials and so on and so forth. This site has been a tremendous help to me in every way. But I have yet to complete deal one yet. I guess it could be nerves or still just unsure how I want to tackle REI or even where I fit in (Rehab, wholesaling, etc.). I think as a newbie that you should just look for 1 good, solid deal to boost confidence and put coin in your pocket as well. I have no fancy outline or biz plan; just find 1 motivated seller with a profitable piece of property that I can get my feet wet with along with some learning experience to go with that.
I have rambled on long enough, but I would be interested in a sub-group on here for us new people on here.
Best of luck to all and thanks for the article Lisa
Chris G
Good advice for newbies or anyone who' s alittle shy about getting in. Getting a mentor always helps but nothing takes the place of just being unfraid to take the first few hard steps. Im new to the biz but my cousin and mentor has been deep in the mix for about 5yrs now and hes makeing a killing. If you want to make a subgroup for support..lets do it.
Darrell
I came from a cushy government job where I could be secure later in my retirement making 60K a year after 20 years of work. Luckily I fell in love and had to move and quit my job. I came upon the mortgage industry and saw investors getting very large checks at settlement. Well, I have been selling loans for the last few years and finally decided to jump. I just got a contract for my first sale,and it feels good. The more I learn about it, the more I am motivated to take it full time. I am counting down the days....looks about 4 months away until I can go full time. If I didn't "look outside the box" I would have never seen how profitable it really can be to be an investor. I made more off of my first deal in a month and a half than I did for a one year's salary in the government. Go figure?
Hi Lisa,
Your situation sounds familiar. I just left a career in IT to pursue my passion in real estate development and investment-- full time! Although at times I get anxious about what the future my hold, I have no regrets. Sometimes you just know when its your time. Four weeks after leaving my old job, I was filing the Certificate of Formation for my new real estate investment firm. Now that's motivating! I would be very interested in joing your group if you get it started.
Sam
Hi,
I also am new. Can anyone help me. I'm reading a lot of the postings and I'm not sure what all of it means. Are you all talking about buying property for yourselves and becoming landlords or what type of investing are some are you doing. I'm clueless!
Lisa,
I like your suggestion of forming a "newbie subgroup" to help motivate each other. Sometimes I feel like jumping off the diving board, sometimes I stand there looking at the pool. Having a support group is like having a friend just nudge me closer to the edge. How about we organize a group here online?
Cherie
Great comment...you don'y always receive what you deserve in life, but what you negotiate...valuable stuff.
Lisa,
I am a newbie also. I have been reading and researching long enough. I am available mentors at my local REI club and it IS time to dive in. Our local club is forming a Women's only group of investors that will start soon. I am always open for more support.
Monica
Lisa, I am about to throw my self down the Niagara Falls. Lets start this group.
Adrian
Lisa:
I have "dabbled" in and out of real estate, I want to make a complete transition to full "investor" status in the near future. I need the learning and consistency, and surp***** all fears. Thanks for your words, I want to be first in line with that new sub-group.
Let me know.
Thanks
Richard
Lisa,
I would be very interested in joining the newbie group. I am completly new to this whole thing. I just started looking for property and although I have done a lot of research I don't feel as if it's helping me in the field yet. So how do we get started?
My introduction to real estate came thru a most unexpected occurance. It was 1941 and I was a fighter pilot in the RAF. Yes that is what delinquent Calif Boys did in those days. Anyway I got shot down over France, ended up in a prisoner war camp and after two weeks or so I left, the food was terrible and the accomodations unspeakable. After some very interesting times I ended up in Paris. I was riding a bike looking at all the German soldiers and in the process I passed by this lovely 9 unit courtyard apartment house on the Rue Hoche
just down from the Champs. The member of the French Resistance who was biking with me started telling me that he owned it and the Boche would burn it when they got thru with it. Blaw Blaw. Anyway I bought it for $15,000 which was a lot of money in those days Gave him a check on my bank in NY. It finaly cleared and I went down and recorded the deed with my french attorney and the old owner. Right behind the recorder of deeds were two Gestapo boys in the trench coats and funny fedora hats. Never tiped that I was an escaping prisoner of war and a member of the RAF,
When Paris fell I liberated the place told the SS to get out because the Americans wanted to move in. They finaly left and I put up a big sign Off Limits all Personal by Order Etousa Headquarters.
That was my first buy in real estate. 9 units in the 5th Arond. All two and three bedrooms. I gave the place to my oldest daughter who lives in Paris. She no longer has to marry men to be supported,tried it five times not too successful, now she lives really well and just rents her paramours. I do not know if I did the right thing or not, but you should see the smile on her face. No more money worries ever.
So, one dumb 18 year old kid, buys an apartment house cause, well why not. Everybody said the Germans would stay forever and would destroy it.
Sometimes it pays just to follow your own feelings in the matter. When I got back to England everybody said I was really stupid to do a thing like that. I mean really these Americans are like children, really. I took a lot of kidding. But that was the best investment I ever made in my entire life. Ask my daughter.
Lucius
another newbie here - so....has this sub-group been formed? how do I find local REI clubs?
I'm new to this and would like to start a REI group in Arlington, Texas or in the Dallas Fort Worth Area. Anyone interested? Please reply.
Chris