All Forum Posts by: Gary Johnson

I am in the Fayetteville, NC area. Not military, not retired. Just broke. :)
I am a total newb. Still trying to educate myself. Haven't found any groups around here yet. MJ

Hello,
I am new to this forum and I sure have a lot of reading to do. I have decided that real estate investing is going to be the tool I use to gain financial freedom. I have already enrolled in an online REI course through my local tech school and I think it is going to be very good. One of the things the teacher has already stressed is that "there is more money (financing) available than there are deals". I find this hard to believe, but wanted to get your opinions.
I am 47 years old. Have a job that barely pays the bills. I have a house that I have maybe $50,000 equity in. I never intend to sell or leave this house. My other debts total about $5,000. My vehicles are paid for. I have very little savings. About $3,000, and another $3,000 in a 401K. I don't know my actual credit score, but I have no bankruptsies or reposessions and my mortgage is current. I have been late on a C/C payment or three in the past but nothing major. My credit should be pretty good, but I know not having a lot of money in the bank hurts it.
I want to get into real estate investing and am just having a hard time believing that the financing will be available to me. I'm thinking I would like to start out maybe with mobile homes and moving up from there. Is it possible to buy a mobile home/land package (singlewides) and sell the home with owner financing, and keep the lot for lot rent? Or will the numbers just not add up. I apologize if my questions sound stupid. I am a real noob at this and need all of the direction I can get. There are no REI associations near me that I can find. Also, I fall in the category where any friends or family members I go to for advice are just going to tell me to "keep my day job". There will be no positve reinforcement forthcoming around here! Thanks for any and all advice. MJ

Colin,
I am new to this great forum and I'm not sure you will even see this since the thread is a month or so old. I want you to know, however, that you are not alone. I have many of the same feelings as you. You are like me in that the thing that is your true passion is not something you're going to make a living at. My passion is drag racign. I live for it. And even though I'm not good enough (or rich enough) to do it full time, I know it is what I was put on this earth to do. So, what I've got to do is find a way to make enough money to live well and afford to persue my passion. I just parked my race car a few weeks ago for monetary reasons, and it hurts.
What hurts a lot worse though, is going to work every day to an aggravating job working for an ungrateful boss who thinks he's the only one in the building who should prosper. I sell my yearly salary in tires about every 4 days. I answer one hundred and seventy five phone calls on a SLOW day and all I ever hear is how I'm not doing enough. I have days at that place where I literally wish I could just hold my breath until I was dead.
But, I am NOT going to let that SOB win. They say the best revenge is living well. I want revenge big time. And I intend to get it. I hope the fine folks on here will give me some much needed advice along the way.
Consider yourself lucky though. You are still very young. You've got plenty of time. I am 47 years old. Time is not on my side. But, I will never give up and neither should you. You may not become a "classical" piano player, but I bet you can find an outlet for your passion. You just need money....and time. Two things I think this business can give you, and hopefully me. Good luck and get to work! MJ