Week 13 | Continued development

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The last two weeks has been very eventful.  Since my last post, I've revisited my goals and business plan.  I explained that many cash buyers are scooping up profitable opportunities in my area.  The good news with that is that I've narrowed down an area of focus.  I'm reading a book called HOLD, and it provides some helpful practicals on determining a neighborhood(s) to target.  Since then I've spent several hours driving around my target neighborhood driving for dollars and checking out the state of the neighborhoods.  I found this run down section enveloped between two B class areas. It was the weirdest thing.  Luckily (or unluckily) there is a home for sale on that street.   I don't really know if that's a good buy because on a street level, I don't think anyone will want to live there, but the street itself is among other streets that are way more presentable.  

Marie has also been reading Rich Dad Poor Dad.  We had an insightful conversation about assets and liabilities. I gave her a quiz and she passed!  Haha.  She is growing a lot in her financial intelligence. The cool thing is that she is excited about it and inquiring more.  She's even reminding me of some of it's principles. Last week, I failed to move to the second round a job interview process. It was a bummer, but she encouraged me to remember Robert's advice about not working for money and rather letting money work for me.  I relearned that I should be learning specific skills in every job I have. I shouldn't have a job just to get a check, but to further my development and growth of financial and business intelligence.  

Also last week, I got my first lender rejection email. As I mentioned in my first blog post, I have this glaring foreclosure hovering over my credit report, and because of it, Supreme Lending said that they couldn't work with me.  Lame! I was turned off initially by the fact that the option to have my wife only on the deed  was not provided, but after talking to my agent, I sort of understood how that level of intrusiveness could have seemed a little pushy and may have turned off others. I will reach back out and have my wife apply in her name alone.  At the same time, I'm comparing our credit union. 

 Persevering in this business is really hard work. I'm somewhat bummed that I don't have my first property yet, but patience is important.  I have to remember Proverbs 16:32 "Better a patient person than a warrior,  one with self-control than one who takes a city."  I'm continuing to network and take it a step at a time. This week, I attended a "deal makers" subgroup with my local REIA. It was adventurous being in the room with other investors who are doing some major deals around here.  They were all getting advice and masterminding with one another.  Pretty cool.  I met a few and am scheduled to get lunch with a local investor in early May. That should be super helpful.  My mentor, recently made a purchase and is in the inspection phase right now.  I have to follow up to see how that is going.  I'm sure there's great insight there as well as some experience to be had.