Student from Seattle, WA - Future Rental Property Investor

[Isaac Feil]

My name is Isaac and I am currently a junior at Marquette University, living in Seattle.  This is actually my second introduction on the platform and simultaneously an honesty post:

I first became fascinated with real estate investing last year as a sophomore after hearing about the "wonders" of wholesaling from both an old friend a couple of internet gurus...and fell for it.  I told myself I was seeking to ease into the industry when I tried to start my own wholesaling gig last summer, when I was really just chasing money.

Of course, I got burned out from trying to chase hundreds of leads per week because I was not truly passionate or aware of what I needed to do to reach success.  I closed no business and learned much less from the experience than I thought I would.

Now, a year has passed and I have adopted an entirely new approach to my mentality about this entire industry.  The main takeaway I have gained after reflecting on last summer is that 1) chasing money alone will not work in this business, and 2) that it cannot be done alone, instantly just like that, just after reading a few books or taking an online course.  

I am ready to revamp my self-education in this field, learning, reading, and seeking advice from real professionals who have wisdom to offer.  I am not focused on money at all as of right now or immediately trying to start up a business.  I am focused on learning as much as possible about rental property buy-and-hold investing before I graduate next May so that I can come out swinging and hopefully make my first investment within the next two years aside from my corporate career.

[Patrick Britton]

@Isaac Feil  Yeah...this business, especially wholesaling is a little more difficult than advertised.  If you are truly looking for advice, here's some that took me a long time to swallow:  you need money to make money.  You don't need a massive amount, but do not be fooled, it takes $$$ to make $$$$$$.  Only the broke or stupid believe you can make money from nothing (these days at least).  So admit to yourself you're going to have to save, save and save...and the rewards will not come for years.  It's a marathon, not a sprint.  It's also not fun sacrificing now for a potentially better future.  

Also, you should probably consider doing something that isn't in the books, the presentations or touted by the gurus, for when they do, it's over.  Take wholesaling for example...no one heard of it during it's most profitable years after the credit crisis.  Then, by about 2013 - 2014 you start seeing a few posts about it, by 2015 it's everywhere and by 2016 everyone and their mother is doing it.  Now the market is saturated.  Same goes with the fix n flip business.  So i think it would behoove you to try to find the next "thing," whatever that might be. 

Last but not least, recognize that there's nothing wrong with a "good" investment.  Chasing after the "best" investment costs too much in the long run.