The Bigger Pockets Method???

[Mike Mullins]

I've listened to several podcast and watched many webinars and they have all seemed to be blue sky positive type information and gives me hope. But then I read comments to questions posted in the forums and those are all doom and gloom. Stuff like you need to save tons of money and work years on your credit score before you even think about real estate investing. So my question is, is there anyone on here that has made a career in real estate investing using being methods learned from Bigger Pockets?

[Stephanie P.]

Originally posted by @Mike Mullins:

I've listened to several podcast and watched many webinars and they have all seemed to be blue sky positive type information and gives me hope. But then I read comments to questions posted in the forums and those are all doom and gloom. Stuff like you need to save tons of money and work years on your credit score before you even think about real estate investing. So my question is, is there anyone on here that has made a career in real estate investing using being methods learned from Bigger Pockets?

Your question deserves an in depth answer because it's one of the better ones.

The first thing you need to is compartmentalize what you can do, meaning what are your resources and how can they be best deployed.  Do you have cash?  Do you have time?  Do you have great credit and a stable W2 job?  Can you swing a hammer or is that not where your skills are best utilized.  Once you find that, you'll be able to blaze a path in the right direction and BP can help you with that.

Example:

If you want to flip houses, but can't swing a hammer, you better be able to assemble a great team.

If you have time, but no discernible skills, being a bird dog for investors could yield you a few thousand dollars while you learn your team building skills.

If you have money, and want to deploy it for a return, you can be a private lender with gap funding or even flip funding.

The point is there are several ways to make a great living in this industry and the people that do it best tailor it to their particular skill set.

One more example.  

I've owned rentals and really don't like dealing with tenants and the trickle trickle trickle of cash flow I experienced.  Full disclosure; over time, I've realized I wasn't doing it right.  I did find, through the process and having jobs, that I'm really good with numbers and deal structuring so I'm a lender and at this stage of the game can't imagine doing anything else.  I don't want to swing a hammer or plunge a toilet and the whole idea of collecting rent  or taking folks to court when I could be putting a loan together for an investor, closing and getting paid is completely foreign to me.

Read "Strength's Finder" by the Gallup organization and it may give you direction of where your strength's lie.

Best of luck

Stephanie