I have gone through a change in my employment since I first joined bp.com. A good one, but I have had to take a temporary pay cut. I am working a second job to make up the difference. I was ready to start investing and was actively looking at properties to flip when I got the opportunity to make this change in my full time career. During this process I learned that the way I viewed money and how to manage it was skewed and I needed more education and change in that area. I am in way too much debt for my salary and want to have some room if I end up having to carry a property for a bit before it sells.
There is way too much hype in this business. Hard to tell the sheep from the goats, if you know what I mean. I realize there is no perfect time, but at this point in my life it would not be a smart move. I know that if I would have bought a property in the beginning, I probably would not have done well. So I have been reading books, finding mentors, and taking this opportunity to learn more while I pay down my financial indiscretions.
In my industry, you don't fix airplanes by not reading and fully understanding the manual first. People can die. I don't want to kill myself financially because I blindly went into this over-hyped business. I don't have a problem going into debt for real estate, but I just don't want all this credit card debt eating up any more of my income. I know that investing involves risk, but I will not risk everything in hopes to pay it off quick. The tortoise beats the hare EVERYtime.
But thank you for the pep-talk! It does seem that I have been lurking on here for too long!!!
