90 Day Challenge: Week 2

[Joshua Roat]

At the start of this blog post I didn't feel like I accomplished much for my week 2 update. I felt like I spent most of the week bouncing from one idea to the next with no set goal or direction. However, as I'm writing this I feel like I can see some progress being made, now wither or not it's aligning with my goal of completing a real estate deal is hard to tell.

I started the week trying to research what I could legally do without a real estate license. I ultimately ended up finding ORS 696.020 which states that a license is required for individuals "engaged in professional real estate activities". This initially got me discouraged, however, after further reflection I don't think I'm 'professionally' engaged in real estate. I'm treating this challenge as an exercise to expand my knowledge base as an amateur investor, not a professional. Additionally, and probably more importantly I was using the fear of legal implications as an excuse not to go out and figure out what to do next.

So here's what I've now decided to do. I started watching, and listening, to some BP podcasts on the best way to find off market deals. I'm going to devote the rest of the week to figuration out how to create target lists, either by driving for dollars or using programs like list source. I'm still hesitant to reach out to home owners so I set up a call with the mortgage broker that helped me buy my house. The hope is he'll be able to provide me with some direction and recommendations so that I can start looking for deals.

Also just a quick note to anyone feeling stuck the blog post is definitely helping. I had the idea to reach out to the broker 2 or 3 days ago and kept putting it off. It wasn't until I started writing this post that I found myself saying 'I'm going to email...' and stopped myself, opened an new tab, emailed him and 5 minutes later set up a time for a quick call.