Real Estate Investing Adventure: To 2015 and Beyond

[Ryan Merkel]

Hello hello!

My name is Ryan. This is my adventure through the trials and tribulations of my real estate investing business. I began with absolutely zero knowledge, and this live diary will chronicle my expected mistakes, my hopeful successes, and the frustrations it takes to get through this business. I come from a writing and marketing background, so this is my natural way to be transparent and document my efforts. 

I would love to engage with you all actively and connect.

Posts will be made bi-weekly and dated appropriately so. I look forward to answering any questions and with this community as acquaintances, advisers, and maybe even friends.

[Ryan Merkel]

September 2014

Entry 2

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I got a property under contract in the earliest days of September. It was valued at about 70K and a seller wanted to unloaded it quick. I nabbed it at 30. Now there is a curse and a fortune to this immediate success. It can build a false sense of overconfidence and security that can permeate your foundation. Truthfully, you can succeed quickly. But for long term consistency and success, maybe you shouldn't.

This overconfident swagger continued immediately. I began in the Fortune Builders jumpstart program on Sept 3rd- quite literally a day after I got a property under contract that I meant to wholesale. So they assured me a weekly conversation with a coach. They assured me access to a whole lot of podcasts, a cool deal analyzer, and books and contracts to help get my business, 'off the ground.' Despite the cliche wording, it was an intoxicating prospect. I went in with this level of confidence that only people that drink the cool-aid and have a rather bloated ego have. They always admit they are willing to learn, but are they...really? 

I wanted to remain humble, but I was the guy that was already successfully self-employed. I was also a year within being a millionaire, and remarking to family and friends that I just joined this exclusive coaching program. Sure, it cost me $2,995, and a part of me knew that I wasn't REALLY chosen- I had a bank account with at least $3,000.

The duration of September was almost entirely about Fortune Builders, and my excitement grew exponentially, until it deflated wildly around the second week. It was a very simple call. I was introduced to my coach on the first week, and it was simply a conversation on the basics and what to expect. yet this second week was a punch to the gut. The coach was clearly following a strict formula for topic discussion, and my 45 minutes was extinguished before I even got to my first 'advanced level' question.

My to do list for week 2? Make a goal list. Watch the videos. Have an open mind.

So there was this duality between the 'experienced' me and the rudimentary goals provided to me. I wanted more substance, and this was an exercise in frustration exemplified through a $3,000 program that taught me to write goals down and talk to people, albeit a bit of a glorified way. 

This is not to bash Fortune Builders by any means. The point here is simple- a mentoring program can provide some discipline in the earliest levels of the business, and as progression occurs, their resources can provide that little consistency. I watched a new podcast/webinar every morning, and soon found many other great series online (including Bigger Pockets). But it became clear to me that Fortune Builders was a foundation building plan. There was no house. 

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