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Posted over 8 years ago

Post #5.5 -(Bonus Post) Learning Mixed with a Triple Espresso

Investors,

I interrupt your regular Thursday with this important message:  I AM ON FIRE!  Ok, I'm not actually (or in a boastful sort of way) on fire but the last 24 hours have been pure real estate adrenaline and I'm so hyped up I feel like I drank an entire pot of coffee.  Enough of this jibber-jabber, here's the rundown (I'll try to keep it concise):

  • I sent out 15 handwritten letters last week to properties I found while Driving for Dollars the past two Saturdays
  • Yesterday morning I called a lawyer I met during college and found out he owns 2 rental properties -- he gave me great advice and said call anytime
  • I listened to BP Podcast #77 with Michael Quarles on my commute to work and got super pumped
  • Before lunch I got a voicemail from a potential seller that I had sent a letter to the previous week
  • I analyzed 2 properties during lunch break and called the potential seller back, asked some questions, and setup a meeting for this weekend
  • After work, I listened to BP Podcast #77 again lol and talked myself into buying real business cards (~$15)
  • I left the printing store and arrived early to my first REIA meeting (thanks to @Jeff Galen)
  • At the REIA meeting, I was treated very kindly by the members and immediately have a "peer" group now to freely ask questions.  I received a few contractor referrals and lots of advice.  Also, a lawyer/investor gave a presentation on estate planning and local real estate law.
  • To wrap up the jam-packed day, I talked to a colleague of mine and he helped me prep for my weekend meeting by role playing and having me explain some creative finance options while he played the "skeptical seller"
  • This morning, I called the city hall of one of the areas I want to invest in and obtained a list of current Rental Property Owners and their contact info.  At lunch, I cold called all 18 names.  
    • 7 were disconnected
    • 6 didn't answer so I left a message
    • 2 said they would call back later
    • 1 said he wasn't interested, but
    • 5 were flattered to share their experiences and talked my ear off and offered to send a copy of their lease and recommended lawyers/accountants/groundskeepers and want to meet for lunch/coffee soon
  • The best part of the last 24 hours was a text from my wife that said "I'd like to come to the next REIA meeting if we can find a babysitter."  (I might have done a touchdown dance in the office parking lot when I read this.)

I just wanted to share this chain of events with the BP nation to thank BiggerPockets for all the great content (even better since it's free) and everyone that participates in the forums, articles, etc.  Now, I still don't OWN any rental properties but I am DOING something about it.  I'm getting educated, spending time asking questions, making cold calls, and gradually shifting my mindset to that of an investor/businessman instead of solely an employee.

Six (6) weeks ago, I was trying to work, literally digging ditches, 3-5 hours/day (on top of my 50 hour W-2 job) to create better cash flow.    You can say "You still don't have any properties."  And you are correct but I'm in the hunt, I'm learning, I'm spreading the word that "I Buy Houses", and I am going to gain financial freedom.  I'm taking steps to set myself up to find and secure a great deal -- and that has me psyched.

Please share your stories of when things just start to come together.  I'd love to hear them.

Trent


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