Finally ... Some Much Needed Progress!

It's been nearly two months since I last updated my blog, and I'm sure anyone that has taken the time to look at these posts I've made figured I had given like many newbie Real Estate Investors do. But I'm happy to report, that's NOT the case.

I won't say that I haven't had my doubts about whether I can make this happen or not, because I've had those moments. But I am determined to take advantage of all of the benefits of investing in Real Estate, so it's never hard for me to find a way to break out of any slump. Plus, I'm finally starting to gain some traction. 

When I first began looking into REI, I was anxious to get out there and make my first deal. But given my long term goals for REI (Buy & Hold while Flipping to build capital), I started to realize that I needed to build a more solid foundation before I really got in the game. So that is what I have been working on.

I read an article on BP by David Greene titled "The Simple But Profound Secret to Long-Term Investing Success" where he compared investing in real estate to getting in the ring and fighting. The gist of the article was to make sure that that you are prepared to take the haymakers that REI can sometimes deal. Because if you're not, then you may just be knocked out for good. This article caused me to rethink my strategy going forward.

Over the last month and a half while I was completing my Real Estate Broker License clock hours, taking (and passing) the exam, and securing a spot at a brokerage where I could hang my licence ... I've been working on getting my financial situation in better condition, trying to meet with as many individuals as I could one-on-one, and began trying to ramp up my marketing efforts to find off-market properties. This is where my much needed progress has come from.

I've nearly finished clearing my financial "decks" by paying off every debt I have outside of my mortgage and car loan (which is an accomplishment in and of itself). I've met with several individuals one-on-one, which was extremely valuable for me, as I was able to clear up some of the cloudy understandings I had. I may potentially be partnering up with one of these individuals for my first project. And the most exciting thing that I've had happen is that I have a lead from my website that I'm going to go look at the house tomorrow!

Things are looking promising for the immediate future, and I can't wait to see what the next few weeks bring!

Next Action Steps:

1.) Go See The House From My First Legit Lead. There's a good chance that nothing comes out of this one, but I feel like I'm playing with live ammo now. Regardless of how low my analysis may suggest to offer, I'm going to make that offer and be prepared to hear a "No." But I'll be hoping for a yes.

2.) Form A Partnership To Do My First Deal. I'm not ashamed to say that my weaknesses in this business are likely greater than any strengths I may have at this point. So I will look to partner up for my first deal so that I can learn. Even if it means getting only a small chunk of any profits.