All Forum Posts by: Randal Remon

Good morning. Here at work still and it just feels like everything is caving in. I applied to around 30 jobs online yesterday until my fingers started to hurt (had to make a profile from to start to finish with each one). I went on monster and indeed now so it seems a bit easier to apply now. Managed to apply to around 4-5 jobs this morning, I only got notice though one company has reviewed my application. Honestly, I'm not sure if real estate is right for me? It seems like evening though I'm saving, working, building my credit and trying, that I have a income problem. And the income I've made in the last two years probably wouldn't approve me for a loan im guessing? Add to the stress, I'm having personal home issues (won't go into) so I might have to purchase a place to live very soon. Maybe I should purchase a trailer or something just to clear my head that I have a for sure roof under my head? Thanks for any suggestions and advice. Really don't know where to go at this point. Feel like my head is spinning a million places.

Just made a resume, and applied to a ton of jobs online. I found out that I will be on the job at least until next wednesday for sure, but the June 1st date is when I will not be working.

@cara thanks for your words of wisdom and encouragement. I'm kind of embarrassed to say this, but I feel like I don't have the right credentials for corporate America as I only have a two year degree in business. Not sure what kind of jobs would hire me, maybe $12 an hr at best. As for my skills, I'm very much into business and IT. That's actually how I saved up my 10k. I developed a service to product and helped others. Generated paying leads, did excellent headlines and copywriting to draw interest, sold them, cross sold and upsold at times, and followed up. The issue I have with this small endeavor it is a trend product/service, so profits are quickly diminishing. On top of that, it was a commoditized product, so I had to make sure my service stood apart from the competition. I ended up spending $0.00 for advertising as well. People just enjoyed the service. So that's what drew my interest into real estate. I saw some similarities when starting a product/service business with real estate. So I'm great with business, it, building websites, providing excellent customer service, copywriting, all the necessities when running a company. Maybe I should take apprenticeship under someone locally? Or what would you suggest?

About how much do you think I would need to do the house hack? I'm assuming I would need at least at 3-4 multi-family duplex? My credit score is around 770-800, just the income part I would have an issue. I have also built a small business rental system that generates $300/month pretty much on autopilot (just might have to work 24hrs out the year for small task). 

Well I stay with family, so they want me to pay ahead the rent for months ahead, non negoiatable. I've decreased my expenses as much as I can (cant slash the cable, because that's one of the agreements I made to stay here + take care of the yard and things in the household). 

Jobwise, in my area, the average rate of jobs hiring is around $11-12/hr. If I work until the end of this month, I should have enough to cover the first month, could sell most of my stuff to cover the 2nd, and 3rd would be where I need to figure out (or id take a hit to my savings).

In the midst of everything, I feel like its time to branch out and start being in business for myself? The rate I'm going, seems like my options are very limited unless I go into business.

My ultimate goal would be to house hack so I can at least have peace of mind a roof under my head (because my family can switch terms at any moment, and I'll be paying their mortgage basically), and have a business growing. I don't care about fancy cars, clothes, or  exotic trips. To have a decent roof over my head, and growing a scalable asset that helps others is heaven to me.

Well woke up to some crazy news now. Just got faced with a $4000 bill (no, didnt buy a new iphone or a shiny new toy), it's an expense I have to take care of (around $1300/mo for the next 3 months), and my job is putting me on 3 month no work and no pay (i guess you can say laid off) at the end of this month.

So no income + $4000 in expenses. 

Any suggestions on attacking this debt? I've been finding alot of great deals on some homes around my area (well a few), wouldn't be sure if I could find an investor that would give me a finders fee for some deals?

Thanks for the advice Nicole! I will be honest, the current job I have, I'm so replaceable it's not even funny. They don't respect me, and besides some times almost 2 hours breaks (which I study my butt off) there's no question of a raise or better pay. Not trying to sound fool hardy, but based on the situation I'm currently in and the wealth equation I used (current pay and number of hours worked minus taxes), I'd need to live two lifetimes before I could even fanthom my goal. I strongly feel like a job is not for me, that my heart is screaming to go into business and build a scalable asset. I think I need to ditch the job and just go into a business, but I haven't exactly figured out what or the bits and pieces.

Just wanted to update with this thread. 3 months I felt like I was near rock bottom. Depression, regret were the constant theme day by day. I somehow just kept walk through the tunnel, and here's where things went so far. - In the past 3 months I've managed to save over $10k. I busted my butt nearly every night, and aggressively attempted to save every penny (chick fil a and dominos have won some battles though lol). I started doing anything I could, from side jobs on the weekend to anything I could do to make some extra cash. - Changed diet. Started drinking more water, and taking better pride in myself. Also checked my credit reports/etc. Proud to say my score is around 800, no debt except this iphone which is less than a $200 balance for the phone left. - Educated myself more in real estate and went to events, went to properties, networked with a few people. I learned that real estate seems like a slow, slow game. I went to forecloser auctions where people where paying $90k cash for properties in a area where Harvey hit hard (even though the home was worth 120-130k). Just was astonished to say how people paid cash for sight unseen lots and properties. Also read more real estate books by Gary Keller, ken mccleroy, and others to educate myself more, and even made a few offers to properties (again found a lot of wholesellers/middlemen trying to swindle me into a bad/at most ok deal). Feel like I'm exhausted though. I feel like I maxed out all my endeavors and its time to go to the next level. I don't know if I need to go after getting a higher paying job, start my own business, or start small in real estate?

From one BP member to another, John I have to admit, you are very immature at this point in your life. I find your comments and choice of words quite disrespectful to the other members who have contributed graciously on the forum. Please understand "no one owes you anything in life". Not that I'm trying to insult you, but you clearly have more to learn, and I wouldn't advise trying to find a "Rich Dad", but doing the steps others have suggested. Im not a guru and a novice as well, but id say change your mindset, because mentally, it sounds like you have a few hurdles/obstacles you need to shift through your head. Awaken the Giant by Tony Robbins (completely off topic from real estate) is a great book for this. Just recommending what has helped me. And Brother, we all would like to see you succeed and don't take this as being a "hater" or being "triggered" (I'm a millennial too). If you don't take anything from this thread, please understand that you have to go through the process (working on increasing your intrinsic value, your credit score, etc) before you get to the event (finding rich mentors, enjoying passive income, etc). Wish you the best of luck with your endeavors.

Hi everyone. I went from being in a slump, to actually getting up, and taking action recently. For the last 2 weeks, I have either been checking out properties, reading, or listening to audiobooks, trying to give it my all, but it seems like I'm back at square one. 

My attempts and actions have been horrendous. It seems like I'm further than ever to finding my first multi-family or even SF property around or near my area. Most of the homes I find are either by whole sellers who barely know about the property and seem like they are in it to make a quick buck, or by other investors who sell homes that actually need to be moved, or just rummaged old homes that will take a complete rehab (which I dont mind, but honestly, the homes I've seen look like you almost want to tear them done and start from scratch).

Any advice? I'm kind of at a stand still cause I dont know if I need to find bigger properties, and team up with a investor that could provide more capital, or maybe I'm missing something? Any advice would be appreciated!