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Updated almost 9 years ago on . Most recent reply

User Stats

39
Posts
8
Votes
Dan Miles
  • Inspector
  • Fuquay Varina, NC
8
Votes |
39
Posts

I am becoming unmotivated....

Dan Miles
  • Inspector
  • Fuquay Varina, NC
Posted

Just trying to do this whole thing making less than $50,000 in my day job.  I cant find realtors that want to work with me because i can only buy something super cheap.  Nothing to buy within 20min. of where i live.  I just feel like i'm doing something wrong.  Anybody gone through this period?

  • Dan Miles
  • Most Popular Reply

    User Stats

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    Joe Villeneuve
    #4 All Forums Contributor
    • Plymouth, MI
    19,407
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    Joe Villeneuve
    #4 All Forums Contributor
    • Plymouth, MI
    Replied
    Originally posted by @Dan Miles:

    Just trying to do this whole thing making less than $50,000 in my day job.  I cant find realtors that want to work with me because i can only buy something super cheap.  Nothing to buy within 20min. of where i live.  I just feel like i'm doing something wrong.  Anybody gone through this period?

     The problem is you're scattered.  You're trying to come at it from a number of different disjointed parts, with no actual plan, or set of goals in mind.  If you don't know where you're going, how will you know how to get there...and how will you get anyone to help you (agents, etc...)?

    Let me add here that a statement such as, "...I want to flip <fill in number here> houses, and hold <fill in number here> rentals this year (or any year), is NOT a plan".

    Here are the problems you've listed, and my suggestions as to how to overcome them:

    Problem#1:  Making less than $50k/year.
    Suggestion #1:  Who cares?  Learn how to use OPM.  Learn how to Partner.  Learn how to not need your own Money.  In reality, you never need to have any of your own money.

    P#2:  Can't find Investor Friendly REA.
    S#2:  Do you know what you're looking for in one?  What questions are you asking them?  How are you presenting yourself to them?  The problem probably lies in how and what you say when you introduce yourself to them the first time.

    P#3:  Can't find anything within 20min....
    S#3:  You do realize the world is bigger than a 20 minute trip?  If Magellan, or Columbus thought that way, we might all be speaking French.

    P#4:  ...feel like I'm doing something wrong...
    S#4:  No...you're just not doing something right...there's a difference.  If Edison stopped trying to invent the lightbulb after 1000 tries, our houses might smell of kerosene still.

    Start learning the following:

    1 - How money works...for you...not the other way around.

    2 - How to present yourself to REA's, so they want to work with you.

    3 - How to do market analysis.  20 minutes is a "mental" restriction, and has no bearing on if/where you invest.

    4 - Think positive, act positive, be positive. Join your local REIC group(S). Network, and sooner than you think, you'll be the one answering the above questions to another REI starting out...and with confidence.

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