Rookie Investor Seeking Help!
Hey everyone,
I am looking to start my investing in Lease Options. I have been schooling myself for about the past year.
I have been learning about different types of Real Estate investing since graduating high school in 2002. I decided that L/O is definately my calling... at least for now, mainly because I do not have the capital to start with, or credit.
I actually have read Peter Conti & David Finkel's books as well as A.D.'s. The major thing holding me back from getting out there and putting great deals together is that I have no contracts nor any knowledge on how to put one together.
I know what you're thinking "So get to a lawyer and have them draw you some up" Right? Well, I don't have the money to do that either... I hear they're pretty costly.
I am definately as ROOKIE as they get, and am trying to learn as much as I can and DEFINATELY looking for a mentor if at all possible. I am very eager and willing to learn.
Every book or article I have read, people always say that learning is great and also a necessity, but don't overwhelm or scare yourself with it... Get Out There and Start Putting Deals Together. Well, I keep trying to drill that into my head, and I HAVE started contacting homeowner's and trying to get my start, but truth is I "am" too scared to go any further than a phone conversation all because I'm afraid that they may actually say YES and I'll be stuck with NO CONTRACTS and looking like a fool.
Any Help or Words of Wisdom from ANYONE would be GREATLY appreciated.
I just laid all my cards out on the table in hopes that someone will look at them and decide to give me a hand.
Thanks...
You can get a decent Course second-hand off eBay that normally includes Contracts.
[addsig]
Thanks Alot...
I'll have to check it out!
Well my friend I do not think that another course or book will help, you have made some progress by your studies but you have simply place your self in a holding pattern - you fear being successful my friend.
You are sabotaging your own success! You fear the unknowns!
Success comes from stepping out of your comfort zone!
You need to face this head on by taking some baby steps towards your goal of investing - simply taking small actions will get you closer to your goal as an investor.
You have the ability my friend; look at what you posted for all to see! Most would not admit this in a public forum! You have taken the first step in overcoming your fears by admitting them, now you have to confront them with action!
So you do not want to look like a fool! Too late!
You said:
I fear success!
I fear making money!
I want to stay broke!
Therefore, now that we have already got past looking like a fool, the only direction to go now is up!
What you are facing is not uncommon!
You are the one who needs to get out there in the real world and get to it!
You have two options you can be a "Haves" or a "Have-Nots" kind of person but no matter what direction you go you are the one who must take responsibility for your success or failure in this situation!
The "Haves":
Desire/Drive - Commitment/Dedication - Education - Courage - Optimism - Determination - Discipline
Experience - Perseverance - Organization
The "Have-Nots":
Fear of the Unknown - Procrastination - Lack of Education - Complacency - Poor Self Control
Fear of Success - World of Scarcity - Skepticism - Low self-esteem - Hopelessness
Good luck and let us know the outcome.
[addsig]
TY13R:
I'm with ya, my brutha!
That first one is scaring me to death, but you know what - there is only 1 first deal. You'll never have to do it again.
As for forms, go to the office supply store - they've got real boilerplate forms. Then, I would suggest you comb the archives of these posts. Folks in these forums make suggestions all the time for stuff to include in your contracts, Finkel and Conti have several, too. When you're all done, you're gonna have a helluva contract!
"LET'S DO IT!!!"
John Belushi, Animal House
Wow...
Thanks Everyone for commenting on my post. I would like to thank you personally JohnMichael... That little slap in the face was a DEFINATE wake up call. I'm well aware it was not said to be mean or make me feel bad. Sometimes a little BLUNT HARSHNESS is what's needed to get people to wake up and take BACK control of a situation.
Reading that post really made me stop and think for a minute about what my plans are and where my priorities lie.
I AM in control of my own destiny and I WILL overcome the obstacles that lie ahead. Truthfully, I am that person who sees what he wants and goes out there and gets it.
I guess all that reading and not that doing wasn't the best choice. No Regrets here though... Without all the informtaion I wouldn't be in the postion that I am in today...
THE POSITION TO TAKE CONTROL OF MY LIFE AND GET OUT THERE AND DO THE DAMN THING!!!
I am still taking all the information and comments AND constructive criticism, and using it to better myself and further myself on my LIFELONG quest to be a CREATIVE REAL ESTATE INVESTOR.
Thanks again to EVERYONE on this site for not only helping me, but helping everybody else as well, so that we ALL may be free to live our lives prospering from helping others.
REMEMBER... The key to Creative Real Estate is knowing that the only way to win is to provide PEOPLE BENEFITS to all parties in the transaction. When everyone walks away a WINNER, Then and only then, will it TRULY be successful.