So I finally did it. I read the books and advice, somewhat too much for procrastination of actually going out there and taking action. I looked at some sites to find motivated sellers but that voice inside that told me to just go out there. Now I am new to wholesaling but after reading Brandon's book on creative real estate investing I now know that wholesaling is a great way for me to start building my real estate EMPIRE!!! (Star Wars music optional) Anyway, I have been working for myself for the last year and a half now doing eBay. I go to garage sales, estate sales, and so forth and I buy items and resell them on eBay. Now I know it's not the most admirable title as opposed to account executive but I have made very good money doing that and also the lessons I have learned about going out there and being a hustler, especially lessons I have learned about being an entrepreneur have been priceless and they are lessons I couldn't have learned so well from just reading a book or taking a seminar. So I read about wholesaling a few months ago and it struck a cord with me. Just like I buy items at garage sales and resell them, maybe I can go driving around for houses and do the same thing. A light went off somewhere in my brain ( I do not remember the exact location) but a seed was planted. Still focused on my eBay business, I kind of put the real estate thing to the side. Fast forward a few months and I just picked up that old book called Rich Dad Poor Dad because honestly I was just getting tired of eBay, I know I can do greater things. So I read the book, then Cash Flow Quadrant, then Rich Dad's Guide To Investing, then Increase Your Financial IQ. I also found a passion to read Brandon's book and finished it in 3 days, spending 2 to 3 hours a day with a notebook and not just reading but studying it. What a difference that made.
So I kept learning and learning. But like all things there would be a time where I would have to take action. Learning by itself does not make one wise, but acting upon the information we learn for the benefit of oneself and to humanity is wisdom. (FYI, becoming wealthy is a benefit to humanity.) So today I got in my car with an almost empty gas tank, I put my eBay business on hold because I needed to burn a bridge where I had to go out there and find properties, not just "oh it would be nice to find a property or two" but I had to have a burning desire and I told myself, "I have no money in my account, my truck is almost on empty, but I will will find at least properties that I can work with, I have to." So I drove around my neighborhood and estimated that I had at least an hour worth of gas (for the people who ever went through those hard times and know exactly when your car will shut down because of having no gas then you know what I am talking about) so off I went
So within a 60 minute period, while the rain was pouring, I went out there. And I found 6 vacant houses which is amazing how I have never seen them before and they were literally a few blocks from me and I would say another 4 properties that were distressed. Now I have so much to learn about figuring out a distressed property but I know that, like fitness, real estate is a day to day thing and if I stay consistent I will only get better. One thing that helped me is that I thought of myself as a successful real estate investor, not just a rookie. So when people walking around me were looking and one neighbor asked me what I was doing, I said simply "I'm an investor, do you know of any other properties for sale?" They said they might know someone so I gave them my card.
I also finally realized that I can do this while doing my eBay business. I figured that if I drove around Northern NJ to different towns and counties to different garage and estate sales, then I can also look for new properties. My eyes have been opened. Also, who more is a motivated seller than the people who are holding the garage and estate sales?
And for the first time in a long time I am very proud of myself, something I always had a hard time doing, because despite the rain and my "newbie" status, I still went out there and while in the past I always made and excuse to put it off till tomorrow, today for me was a huge success because if I can or can not do anything with the properties I have found today it doesn't matter. I found out that if I just get my you know what off the chair and go out there, I will find opportunities. Overcoming a huge limitation today that has kept me from success in the past is an amazing feeling.
Thanks for reading this, and I will continue to post what I do. All of my successes and failures.
I wanted to ask though, should I start to work on getting properties under contract myself or do the bird dogging thing to get started? I would say I am pretty good talking to people, especially on the phone. (I worked as a broker intern on Wall St., which despite hating the job and what that brokerage was about, did help me with my phone skills.) I hope to post my first deal soon. I wish everyone more success than they can dream of. Take care.
