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All Forum Posts by: Account Closed

Account Closed has started 1 posts and replied 11 times.

Post: How do I take the first BIG step with no money and no credit?

Account ClosedPosted
  • West Haven, CT
  • Posts 11
  • Votes 4
Originally posted by @David Faulkner:

I agree with most ...

Yes, these steps cannot be ignored.  

Post: How do I take the first BIG step with no money and no credit?

Account ClosedPosted
  • West Haven, CT
  • Posts 11
  • Votes 4
Originally posted by @Kevin Schulte:

"subject to" / "lease option" / "wraparound mortgages"

https://www.biggerpockets.com/renewsblog/2014/05/1...

Thanks, good advice.

Post: How do I take the first BIG step with no money and no credit?

Account ClosedPosted
  • West Haven, CT
  • Posts 11
  • Votes 4
Originally posted by @Jeff Rappaport:

@Account Closed 

Thanks for the great advice.  Yes, these methods are out there and do work and, as you say, still require hard work to make happen.  Good stuff.

Post: How do I take the first BIG step with no money and no credit?

Account ClosedPosted
  • West Haven, CT
  • Posts 11
  • Votes 4

Excellent advice!  Thank you Brian-

Post: How do I take the first BIG step with no money and no credit?

Account ClosedPosted
  • West Haven, CT
  • Posts 11
  • Votes 4

Without exclusion, I thank all contributors to this thread.  All of the information is valuable, including the contentious ones, because every interaction shapes the way we think.  And, while I continue to dig with my spoon, I will occasionally ask if I may borrow a shovel along the way.  For RE insights gained, I say thank you.

I think all will agree it's time to end this thread though -- I'm spending too much time here arguing my merits when I could be working and listening to podcasts, reading books and so forth.  I like work and Jake is right, just not about me.

Post: How do I take the first BIG step with no money and no credit?

Account ClosedPosted
  • West Haven, CT
  • Posts 11
  • Votes 4

Good point, but I think anything that saves someone any time is a shortcut.  This is not to be confused with "skipping" important steps.  If someone can tell you how to do something when you ask, that's a shortcut, isn't it?  But, you're not wanting to skip important steps -- that would be self destructive.  

Educators are saving students time buy teaching them what they have learned from their own mistakes and perhaps a good bit of insight into what they did right.  I've read that there are ways to creatively invest with little to no cash and asking how that is done should never be criticized.  It's an honest question that has real answers.  I worked hard my whole life and built my business from scratch without help from anyone financially while I worked a labor job 10 hours a day and lost sleep working at night and eating plain pasta because that's all I had left over.  I know what work is and I have no intention of skipping important steps or looking for the lazy man's way.  Fast?  Sure, because the sooner I know what I need to, the sooner I can get to work. 

 If you've ever looked at a youtube video to see how something is done rather than figuring it out yourself the hard way, then you're a sinner just like me because a shortcut is, by definition, an accelerated way of doing or achieving something.  Education certainly accelerates achievement and that is exactly why I read, ask and will continue to ask how things are done from those who know, rather than fear someone saying no or go away, or that I'm wrong for asking.  There isn't anything different with RE than with other business; in principal, if you want to know how something is done, or if it CAN be done, you have to ask, research and do the work.

Hung up on the word "Shortcut" without knowing its definition here may be the problem.  I understand why these questions would irritate a hard-working investor.  Most people asking likely fall into the category of wanting to take advantage of your experience so they don't have to lift a finger.  Well, that's one way to look at it, but believe me, those people will never benefit from the info anyway because they'll never follow through.  They don't have the metal for it.  They will keep coming though.  Reread my above posts in context, and see that I never said I wanted to bypass knowledge, effort, work or anything of the kind.  To sum up, I was asking how to get the information needed to move forward without having to pay a fortune for it.  It's called RE flipping while a property is under contract.  You sell your interest to another investor.  It can be done, if done carefully and following proper RE guidelines.  Those deals are hard to find, but they are there.  

Let me tell you, new people to RE or any other business will continue to ask -- it's what people do.  If you didn't ask for help at any point in your career, worth mentioning is that we all share this planet together and that helping one another is much more a privilege than it is a burden.

Post: How do I take the first BIG step with no money and no credit?

Account ClosedPosted
  • West Haven, CT
  • Posts 11
  • Votes 4

You've gone too far.  Informed shortcuts are not a sin guys.  There are people doing deals of this kind occasionally, and asking how it is done is not an invitation to life lessons.  I've had great success over the years in my business and intend to again (by working hard as usual).  There are good shortcuts and there are bad ones and often there are none.  The people who know the good ones take them if they work.  Don't read things into this post that aren't there and stop with the high and mighty beat downs.  This forum is for networking and information sharing, not defamation of character.

Post: How do I take the first BIG step with no money and no credit?

Account ClosedPosted
  • West Haven, CT
  • Posts 11
  • Votes 4
Originally posted by @Mark Brogan:

@Account Closed go to rei meetup groups in your area, get involved with some of the people in the group and offer to help and learn about this business as much as you can.

dont worry about not having money or credit, fixing all that takes time

this business is a life long journey which takes up lots of time and effort on your part to be successful

if I can work a job and do a deal every now and again anyone can 

 Thanks Mark, I will do that.  I believe everything in life is about building relationships and successful people build good ones.  Personally, I love helping people if I see initiative.  I also see many successful people; those who aren't afraid to ask, get a lot further than those who are afraid to ask directions.  I admit upfront that I am lost in RE, but so is every other rookie and I know more today than last week because I'm studying, asking and thankful to the folks who've pointed the way as I go.  Thanks!

Post: How do I take the first BIG step with no money and no credit?

Account ClosedPosted
  • West Haven, CT
  • Posts 11
  • Votes 4
Originally posted by @Jonathan Azevedo:

I'd recommend starting with a book on mindset.

Great podcast on mindset from Bigger Pockets earlier this year. The podcast mentioned a book called "secrets of the millionaire mind. "

Buy the audio book. Listen to it every day for a month... I assure you that your net worth will increase if you do this.

Best - Jonathan

 Thanks Jonathan, mindset is important.   I'll pick up a copy of that book and I appreciate the advice.

Post: How do I take the first BIG step with no money and no credit?

Account ClosedPosted
  • West Haven, CT
  • Posts 11
  • Votes 4

Thank you for joining in on this -- the input is valuable from all contributors.  Sometimes, a smart guy who possibly had his own business for a number of years in the 300k range could have lost it due to any number of reasons unpreventable and would, in that case, study; beat the pavement, look for education opportunities and ask the right people the right questions along the way to climb out.  Good information rarely comes free, but if you never ask, you'll never know.  Personally, I'm in my 50's, and now have a much shorter time to acquire the skills needed to accomplish my goals than a guy in his 30's.  When asking, there is never any obligation to answer those questions, and digging ditches with a shovel has always been more productive than with  a spoon.  

I agree that those upcoming folks looking for someone else to do all their work or for someone to give them a cookie-cutter method to get rich quick are lazy and idealistic, but not everyone who asks for information is lazy and idealistic.  I like to think of myself as new to RE, proactive and eager to learn.  I've had success, moderate wealth, and intend to again.  For those who have never fallen down, you have to climb back up.  The older you become, I suppose it's fair to say the more short cuts you may look for, as long as it doesn't replace an informational foundation and it will still require hard work -- the main ingredients in success.  I would say an "Unacceptable" shortcut would be ruthlessness, but asking is not that.