All Forum Posts by: Timothy Douglas

I literally have no money and the only way to get money is to partner with somebody. However, being twenty years old, it is hard to partner with somebody because they think I don't know what I'm doing; they're correct for the most part. The last thing is that my time is stretched between Young Life and College and I'm not willing to sacrifice friendships or my degree to dive into Real Estate Full time. Long story short, I don't actually believe I can and it pisses me off...

It's okay to be mad at yourself. It's okay that you want to enjoy life right now. Success involves sacrifice. You have to sacrifice something. It sounds like you are not even willing to sacrifice one day a month to attend a real estate meeting. If you are willing to do that then joining a local reia is a great first start.

I've actually obtained an LLC and was planning on starting a meetup in my area next semester because none of the current meetups fit with my weekly schedule. I'm totally okay with sacrificing a night, it's mainly that all my nights are full except Thursday, which is the plan now. The other thing that is stopping me is inaccurately assessing repair costs. I'm reading through the book and stuff but I am too scared to mess it up and cost an investor money.

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Originally posted by @Taylor L.:

I would use an answering service to actually have a conversation with the person. There are a lot of cost effective services out there.

Do you have any recommendations that are particularly cost effective?

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What company do people use for automated voicemail messages to collect information on leads? What are some tips to make the voicemail conversion rate successful? What should I do to follow up with leads afterward? Call them back and start negotiating?

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Originally posted by @Account Closed:

Originally posted by @Timothy Douglas:

At 20 years old with no experience you're going to have to find someone who trusts you with their hard earned money over a lifetime. That's going to be a tough sell.

Well, If you're serious about this then your best bet is probably to find a successful investor actually doing what you want to do (*important*). Give them free work and free value and ask for nothing in return. Do this for a year. Find them deals and ask for equity or cashflow in return for finding the property and helping with the asset management.

In the mean time learn how to write a good resume and fill it up with as much industry related material as possible because that's all you have and it does say something. Get as many free certifications, credentials, etc. as possible.

Remember this: at 20 ego and naivete is at an all time high, while experience and knowledge is at an all time low. So when you find this older successful mentor remember to actually listen to them and do what they say and don't burn the bridge when you get fed up and want to branch out on your own. I know you probably wont like to hear that and you probably wont even accept it, but in either case you'll know what I mean in 10 years and you'll wish you listened.

Good luck!

Thanks for the advice! I do need to find a mentor in the industry that is either into multi-family rental properties or wholesaling. I think the part that gets me is patience during that process and time commitment while I'm doing so much else. Of course, you sacrifice for what you want! Did you have an idea of any free certifications?

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@Jordan Woolf That’s a great point. I’ll look at wholesaling closely and see what I can do!

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@Jordan Woolf I see, what makes it difficult to scale without income? I feel like the 50,000 I make a year post grad won’t make it very easy to scale either. Isn’t that the whole point of using Other people’s money and creating win win situations?

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@Logan Vierstra How much time do you have? You could start grinding on that private capital if you know some fairly wealthy people. Maybe try owner financing with the largest down payment you can afford so that they get some now and some tax benefits too, plus you get nine amazing properties. Win win baby

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@Ola Dantis Thanks for the encouragement! I’m trying to make reading a part of my daily routine for sure, along with being more active on the forums!

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All Forum Posts by: Timothy Douglas

Timothy Douglas has started 22 posts and replied 147 times.

Post: So what's holding you back?

Post: So what's holding you back?

Post: Automated Voicemail Message for Direct Mail/Bandit Signs

Post: Automated Voicemail Message for Direct Mail/Bandit Signs

Post: Analyzing that first Rental and knowing when to jump in!

Post: Analyzing that first Rental and knowing when to jump in!

Post: Analyzing that first Rental and knowing when to jump in!

Post: Analyzing that first Rental and knowing when to jump in!

Post: Seller wants to sell more houses than I can buy, I need help!

Post: Analyzing that first Rental and knowing when to jump in!