Getting Through the Rocky Start

May 30th 2015 

         I have been a scatter brain when it comes to what area I want to start my path of wealth and fortune in, but I can't seem to get a spark. Nothing is more frustrating to a newbie as not getting instant gratification, and after reading a few books I have been able to expect struggle, frustration, and failure. I have been scouring the web for a deal, but to my luck there are no diamonds in the rough that really catch my eye. The more I search for the more deal that's going to get my foot in the door to wealth, I realize that I am creating a bottleneck for myself. I need to spread my scope and find more avenues of approach ( a familiar term I have used and heard in the military). The funny thing about this is that all the material I have read has stated not only how important getting leads are but the importance of creating multiple streams of opportunity to get your leads.

        So I have figured out one of my problems, but now I need to figure out what type of properties I need to focus on. After doing some research and figuring out what I am looking for I came to a conclusion that I wanted to focus on multi-family properties. They, to me, seem to have a lot of potential to make an income while living at the property. Most loans I am going to be dealing with have a stipulation that I have to live at the property for a year before I can do anything with the property. The cool thing with multi-family properties is that they allow you to have roommates without sharing the same living space. Yes I know that there are a ton more of complex factors that make it not that simple, but that is the main factor that I am going to focus on, and work my strategy around that concept.

        Now that i have my figured out my target audience and a general concept to create multiple leads ( web and direct mailing), it's time to put my investing journey on the tracks and give it life. I plan on tracking the deals I find and organize them based on where I found them, either through the web or through my mailing lists. Later I plan on evolving my basic lead producing strategy, but for now with limited funds I will start here. After a month I will assess the plan I have developed and see if it is going according to plan, and make adjustments as needed. 

        Throughout this process I want to see how the interactions with the people on BP and the people I meet develop my and, hopefully improve, my chances at becoming a successful real estate investor. If anyone reading this has any critics, comments, concerns, input or just want to discuss their personal journey with me, all the things will help turn this blog into a path for other real estate investor in my similar situation with a reference on what to do and what not to do.