All Forum Posts by: Melissa Lapinski

Hi Henri - That's my plan although I do not have one yet. I think that is what I was really asking for help with, and I didn't quite word it correctly. In another post, soon after this, I asked for help creating a business plan. I agree with you completely that this is the information I would need to have in order to even think about approaching her. Thanks!

Bill Gulley you make me laugh. I like you. I have indeed been to re school, but that was almost 10 long years ago. The whole reason that I went to real estate school was to become an agent, learn the ropes, and eventually start investing...good plan, right? Well, things didn't work out the way I planned and I did not get a lot of experience once I did get my license. I was involved in maybe 5 sales, but all of them were with people that I knew, etc so I didn't really learn too much about what it woul really be like out on my own. I was also under the wing of a broker placed mentor for all those transactions.

I am sorry if it seemed like I may have mislead you, but to me, this is just like starting out fresh again. Unfortunately my memory is not what it used to be, so I am not sure if I remember the laws correctly, or if they have changed (which I'm sure many have).

I'm thankful to all of you on this site for keeping me on track. Based on some of the replies, I think my best course of action would probably be to actually re-educate myself on the laws of real estate. In the meantime, since the market is so different and where I live is a totally different market as well, I will continue to network and take in as much advice as I can as I go. :)

Jeff S. - That is a really good idea. I will be looking into that. Thank you.

Ron Climer - I do appreciate your idea, however I had my license about 10 years ago and had to let it expire. I have done some research and spoke to some brokers and I would need about $1000 just to get back on track (including continuing education and fees to reinstate th license and then broker fees). I know $1000 may not sound like much, but even cutting down on anything extra, it would still take months, to possibly over a year for me to save that.

Thanks everyone once again for all the input.

Bill Gulley - I appreciate you playing devil's advocate in a lot of your posts. :) I did not know that this can be seen as illegal and I also didn't think about how it affects realtors. Is there anything that you can offer me in terms of suggestions then on being very new but having no money? Would you suggest trying wholesaling? Possibly keep up the networking and look for partners? Thanks again!

Hello. I have been trying to research as much information as I can on this site over the last week that I've been a member.

I am starting to get discouraged though because I honestly do not have any money that I can use to start. I know that this is what I want to do. I know that I will be successful at it. I know that investing in real estate is the way to ensure long term financial stability for my family.

But, I also know that I don't have any money. I understand that I need to network more in my area and I plan on doing that. I am attending a local meeting next week where I hope to meet some new people and learn some new things.

My question is, has anyone started off their career in investing by birddogging to gain income to then use to start buying more investments?

James Hiddle - Thank you so much for replying and introducing me to J Scott's website. I did find the plan, and much more valuable information.

Ned Carey - Thank you as well. These are scenarios that I absolutely need to consider. Thanks for pointing them out.

Mark Ferguson - Thanks Mark. I think my brain just works the opposite of yours. :) I would rather underestimate my goals and then be pleasantly surprised when I exceed them. Maybe I need to change my way of thinking though. Thanks for the advice.

Thank you @Kelly N. That is very helpful. Of course I was hoping to need less but this is why I asked for realistic. I too have a family that we need to support so that makes a lot of sense. Thank you so much. I will definitely read the 3-6 month's of expenses as well. Thanks!

Hi everyone. I am so happy to have this site available. I have already received so much information. Thanks to everyone!

I am not under any illusions that I am going to be rich. I am really looking for financial stability. I understand that this is going to take a lot of time and work and I am ready for that.

My first question is a realistic ball park estimate of how much money I should have in my pocket for my first investment. I know this is all going to depend on the property, etc. I am just wondering if there's some sort of way to figure out how much I should have. Maybe a calculation or percentage of property price or something?

I am also having a bit of a hard time trying to make my first business plan. I know you are supposed to have short term goals and long term goals among many other things. I want to make sure my goals are realistic, and motivating at the same time so I really don't know where to start. Does anyone have a rough draft of your first business plan and information on how it worked out for you?

I know these questions are very vague and I apologize for that. I am truly a beginner :)

Ha! I know you were speaking to Daniel, but that made me laugh. Maybe I should find Esther. She seems to be pretty persuasive. :)

Wow, I cannot thank you all enough. You all giving me those links and all the extra information has far exceeded the answers I thought that I might get. Thank you!!

Steve Babiak - It seems that you are very familiar with this area as well?