Still a newbie and making a lot of mistakes

[Gernot Bucheli]

Hi everyone. I'm going to need some advice. Some months ago I signed up with a program that uses Facebook to attract motivated sellers. My wife did not want me to sign up for it, since it cost me $9,000. I tried to work with it, but had no luck so far. About a couple months later I signed up for another REI program. This time it cost me $18,000, and this time without my wife knowing about it. And like the first program I'm having no luck with that one either. Here's the problem, those personal loans are catching up faster than I can pay off the monthly payments. Next month I'm going to be in the red. And if my wife ever finds out, then I'm dead.

My personality is not like Brandon, who bounces off walls with enthusiasm. It is rather like Dion McNeeley, who is "lazy" in that I don't have time to devote to real estate investment. A quick fix is to rob a bank. But that's not going to work. Has anyone dealt with this kind of problem before? If so, what did you do about it? Your reply will be so greatly appreciated. 

[Theresa Harris]

First, stop paying for programs that are going to make you money.  That $27K could have been used for a down payment on a house.  Learn from that and don't sign up for any more programs.  

Is there a line of credit you can borrow from?  Can you put in extra hours at work?  I'm guessing you've already cut your spending.  

You also need to talk to your wife and own up.  Yes she will be mad, but not as mad as she will when she finds out later and you know she will find out.