Self-Made In The USA
First of all, please allow me the indulgence of introducing myself. I am sure I will be getting to know a number of you much better in the coming years as I plan to make this field my last hoorah... so I may as well make a proper entrance.
Here (for the purposes of beginning REI) is who I am: I have been self-employed in one fashion or another for almost all of my life. I have started many businesses, each well "outside the box", and each with no prior knowledge. Some were failures. One in particular was a monumental success... which due to factors beyond my control (If such factors indeed exist) became an even more spectacular failure. A very serious illness then further rained on my lovely parade.
I have, in recent times, lost my fortune, my business, my home, my car, etc. No matter, I have regained access to the necessities, and it was all practice for REI. I have none of the conveniences of investing at the moment (credit, $, etc.). I am, however, not the dimmest bulb on the Cristmas tree, and happen to be the posessor of a nearly inextinguishable belief in my abilities.
I am unemployed momentarily, and will regretably be choosing the lesser of several employment evils shortly. I, however, am simply not suited to life in the proverbial coal mines, and will work 5x harder and 10x smarter for the right to hold the reigns to my own destiny.
There, now that you know a little about me, I would be honored to learn a bit about you. Specifically, what I would like to hear about is information from those of you who started your REI career WITHOUT the "nececessities" of money, credit, home equity, assets of any sort, or known access to any of the above.
For those of you who started in these conditions, I invite you to do the world a favor by adding your post and letting the rest of us know what you did and how you managed to bootstrap your way down the yellow brick road. Several years from now (if, indeed, it takes that long) I look forward to inspiring the next wave of beginning investors. For now, I sit humbly and listen with open ears for those who have earned their way into freedom, for yours is surely the most inpirational of all journeys.
Thank you.
thestudentisready,
Glad to meet you.
I found a need and filled it.
I did not start with the conditions you describe, but I did not need any of them once I found the need.
John $Cash$ Locke
PS: How's that for inspirational, but oh so true.[ Edited by JohnLocke on Date 05/16/2004 ]
Welcome to TCI. I am similar to your nature as I have no money or good fortune as many of today's sucessful people had while they were starting out.
I'm no expert here...i'll let others share if they so choose.
Welcome
Nice to meet you fellow Floridian
Hello my name is Joe. Im also fairly new to REI and am starting out with nothing either. No credit No money No nothing but my mind. I'm currently working on my first deal that I have posted in the commercial forum. You can follow it there and give any ideas that you have. Good Luck with your adventures!!!!
Thanks for the responses, guys. I'm sure I'll get a few success stories posted here over time.
That's fine. I could use the wake-up call.
I'm amazed at the depth of knowledge available at TCI. The advice can be a bit... well... harsh would be putting it nicely
One thing I'm definitely trying to see is, of the ones who started out from ground zero (or below) ... which avenues they took to get their foot in the door. All the theories and discussions are great, but I'm most interested in what real people have actually done, step by step. I'm a big believer if someone else can do it, there's nothing stopping me.
I just want to make sure that if I'm trying to measure up to something someone else did, I'm making sure they weren't using tools I don't have at the moment to get there... unless, of course I can learn to grab me a couple of rocks, and bang out some tools of my own...[ Edited by thestudentisready on Date 05/17/2004 ]
John, I've finally boke down and bought your course . i'm about to get e nuff nerve to take it out of the box lol
TNTRASH,
Welcome to the Cash Now team.
Please go ahead and open it, the Limo Driver who delivered it was instructed by me to wait until he takes you on your first appointment. He knows he won't have to wait to long, but you do need to read it first.
John $Cash$ Locke
Come on, now... I haven't heard from one person about their successes starting w/ very little $. I don't believe for a minute that you're not out there...
Free warm fuzzies to the first to share their tale... I'll even throw in the shipping.
Hi Nice to meet you,
I don't know if you can call what I have accomplished so far a success, but I think it has started me well down the road to becoming one. I currently have four rental houses, one is a duplex. I have a positive cashflow of about $1000 per month out of them. I bought them all no money down and got cash back at closing and got them at about 15% under FMV. I have been pleaed with that so far. On the second front, I have a cash investor and am in the process of aquiring some rehabs to turn and flip. I will find out hopefully today if any of my offers were accepted!. Now I will say that I do have good credit and I did have quite a bit in my 401K to show as reserves. I do think it would have been more challenging if I had not had those things going for me but definately not insurrmountable challenges. Good luck with your REI career!
[addsig]
Good stuff so far... anyone else?