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Updated about 6 years ago on . Most recent reply

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Bryce M.
4
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15
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New BP member, Looking to buy my first investment in 2019!

Bryce M.
Posted

I have been researching off an on for the last couple years, I am now in a good position to start investing. I am interested in hearing how some of you "broke the ice" and dove into your first properties. 

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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
19,408
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Joe Villeneuve
#4 All Forums Contributor
  • Plymouth, MI
Replied

I started by learning how to analyze, then practiced analysis until I disciplined myself to lose the emotional rationalization and label a "dog" as a "dog".  What developed was an appreciation for the importance of Market Analysis over property analysis...critical difference.

While I was learning the Analysis, I became aware (as in hit between the eyes) of the massively important concept of "compounding" and how it can apply to REI. Then, I used my math and reasoning skills to develop ways to apply compounding to REI (as in How Money Works) Strategies.

My System oriented mind (curse at times...ask my wife and daughter) understood that I had to develop a REI plan based on reverse engineering...and then,

...I put it all together into the Perfect System...based on being self-sustaining and its ability to be repeated.  which is the system I use (and teach) today.

Simple.

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