We apologize, but the forums are closed for new posts. Click Here To Join The Unemployables Facebook Group

Welcome, Guest. Please login or register.
December 06, 2021, 12:07:58 pm
Home Help Search Calendar Login Register

Welcome, Guest. Please login or register.
December 06, 2021, 12:07:58 pm
Home Help Search Calendar Login Register

Author Topic: Do you enjoy your career? What do you do?  (Read 15008 times)

Offline ericmedem

  • Member
  • ****
  • Posts: 873
    • Real Estate Wholesaling Guide
Do you enjoy your career? What do you do?
« on: January 21, 2007, 08:53:04 pm »
I was sitting around my home this evening trying to get some more exact figures on some closings that I just had (im honestly missing $60,000 somewhere, im sure its around but...I just dont know where), and I got to thinking, I make more money investing in real estate than I do selling homes as a realtor and it seems so much eisier. I guess im now a full time investor and part time realtor. Thats not something I would have expected. I have 12 different remodel projects going on right now, and 6 people working for me, yet in my own head im still the same old same old. I didnt even start buying heavily until 2006, which was one of the worst markets in 20 years from what I have heard.

Anywayz I was wondering what other people in the forums do for a living?

How much time each week do you dedicate to investing?

Would you be a full time investor if you could?

If you would want to be a full time investor, what keeps you from taking the plunge?
http://www.InvestorsPlayground.com Now FREE!  Just type in your email so I know where to send your FREE 1471 Page Investors "Holy-Grail".  (It's NOT $97 anymore)

Offline spacechimp

  • Member
  • *
  • Posts: 32
Re:Do you enjoy your career? What do you do?
« Reply #1 on: January 21, 2007, 09:18:33 pm »
I'd actually be a full time rehab investor and rental investor like YESTERDAY if i could..but getting a supply of leads/deals is the biggest issue.
I spent a Long time going through foreclosure lists this weekend, and it just looks like leftovers.

BUT I'm also into Forex trading also, which I want to be my close 2nd investing route.

i was an engineer... :P
if only i would have skipped that and started real esate earlier  :-[


Offline #1investor

  • Member
  • *
  • Posts: 17
Re:Do you enjoy your career? What do you do?
« Reply #2 on: January 22, 2007, 08:59:48 pm »
I am a chef here in NC.  I have just begun investing in RE. I took classed at my local comm college but i am still frustrated- the real estate market and all that can be done is more vast than I could have ever imagined.  What I know I want to do is build a base of residual income and then use those properties as collateral for flipping, and other investment methods but It seems the more I try to get started, the harder it becomes.  I have great ambition and have spent the past two years fixing my credit and searching the net for info and now I am ready to go; and dont know what to do.  I hear you other investors telling your testimonials and it seems amazing but I dont have one to tell.  Man, you are searching for $60,000 and I just can muster up $6,000.  

Maybe, I have learned too much and dont know what to do and am scared as heck now.  Too much learning maybe has got me confused. (Have you ever met someone who knew everything but wasnt producing anything; just a side joke).  

They say start by birddogging or wholesaling but I cant seem to get a full description on either or a method to begin.

Well I thank you for reading this reply, I guess I needed to vent!!

Offline 4R Management

  • Member
  • ***
  • Posts: 371
    • WCRT
Re:Do you enjoy your career? What do you do?
« Reply #3 on: January 22, 2007, 10:35:17 pm »
SpaceChimp,

Let me ask you, do you feel you could get those leads if you didn't have a job and had the time to go after leads?

What I challenge people to do regularly including all of mentoring students, is ask yourself the following:

"What is my time worth?"

If you think that with 4 weeks in a month and 40 hours a work week, so with 160 hours of just regular hours (not including evenings and weekends), do you think you could manage to find even 1 deal that would be worth assigning the contract for 5K to another investor?

If the answer is yes, you just made 60K in a year (5K times 12 months). Now we all know after that first domino falls it becomes easier. You also network with other investors who will bring deals, or you will not assign the contract rather become a partner in the end deal.

So you can see how you could replace your job. A JOB, is all about time.

I do this full time and LOVE IT. Would never trade it for the world. You are only the success you will allow yourself to be!

"I am inviting anyone who is willing to work, to share in my success".
Ryan D. Steele
Director, WCRT
"Success By Association"
http://www.WCRT.org

Offline spacechimp

  • Member
  • *
  • Posts: 32
Re:Do you enjoy your career? What do you do?
« Reply #4 on: January 22, 2007, 10:50:47 pm »
I don't even  Have a real 'other' job right now. lol

it's just there is this 'inner circle' of those who are connected to finding the best deals available...
some rehabbers don't even LOOK for deals, they are Fed to them.

I watch it happen and just  :-\ :-[

Offline 4R Management

  • Member
  • ***
  • Posts: 371
    • WCRT
Re:Do you enjoy your career? What do you do?
« Reply #5 on: January 22, 2007, 10:52:50 pm »
Get off the loser mentality. Find a way to either create your own circle, or figure out what you have to offer the others to be included.

See what they are doing and do the same, just do it BETTER!

How many places are there to get a burger? Just because McDonalds is around doesn't mean that Wendy's, Burger King or Hardee's isn't going to be there and be successful as well.
Ryan D. Steele
Director, WCRT
"Success By Association"
http://www.WCRT.org

Offline MikeHgl

  • Member
  • **
  • Posts: 73
Re:Do you enjoy your career? What do you do?
« Reply #6 on: January 23, 2007, 05:39:10 am »
Real estate investing for me is only a "side" job but not much longer. I still work full time in the 9 to 5 world. I want to go full time. I suppose what's holding me back is fear. I admit it. I KNOW I can do this full time. I just need to break free.
 Right now I'm waiting for the upcoming union contract that covers me to be renogotiated in September of this year. Rumor has it they will offer buyouts to long term employees ( me = 27 years) to thin the ranks of high cost employees. If that is true I will take the offer and go full time r.e.i.
It's hard to let go of a steady job. I know there will be no tuning back. But I also know that I can do this. Bottom line.....fear.
"Life's a journey - not a destination"

Offline spacechimp

  • Member
  • *
  • Posts: 32
Re:Do you enjoy your career? What do you do?
« Reply #7 on: January 23, 2007, 06:01:47 am »
Get off the loser mentality. Find a way to either create your own circle, or figure out what you have to offer the others to be included.

See what they are doing and do the same, just do it BETTER!

How many places are there to get a burger? Just because McDonalds is around doesn't mean that Wendy's, Burger King or Hardee's isn't going to be there and be successful as well.

OK, Tony Robbins!  ;D

I try to add new contacts every day..
i just know there's an ELITE club that requires BIG Cash and is not accepting new members. I talked on the phone to a wholesaler and got 'who are you? MMMMM, OKAY, I'll call you if I get anything..bye'

BAH

Offline DeeinAustin

  • Member
  • ****
  • Posts: 963
    • CopelandGroupRealty.com
Re:Do you enjoy your career? What do you do?
« Reply #8 on: January 24, 2007, 11:10:09 pm »
I'd rather invest 100% of the time. The only reason I like being an agent is because we get to do deals vicariously by working with investors.  I got my license to invest, but decided to start a brokerage business following the Keller Williams model of working with teams. I'll get back to buying properties this year because I didn't buy any 2006.  

My team helps find and evaluate deals, but if we find something that we have time to work on, they'll do a 50% partnership at any time. We're moving into new builds since rehabs are a pain in Austin, especially central due to high costs.
Principal Broker, Copeland Group Realty
Green Construction and Investments
http://www.MyClientsBuyLand.com
My Clients Buy Land...and Houses Too!

Offline LRrenewvating

  • Member
  • **
  • Posts: 80
Re:Do you enjoy your career? What do you do?
« Reply #9 on: January 25, 2007, 09:59:12 am »
Like spacechimp I am an engineer and I wish I only had 9 to 5 hours. Most days I leave the house at 7 AM and by the time I get home at night it is almost 7 PM.

4RMANAGEMENT
To answer your question to spacechimp, YES, I think I could find a lot more of the deals if I was a full time investor which I have in my plan to be by my birthday in September of this year.  By then I will be 100% vested in my 401K and I will hvae received my bonus for last year.

Right now when I buy a property I take a week off the 9 to 5 job and spend it on my project.  I actually enjoy getting up during that week and getting to the project.

I would say my 9 to 5 job is holding me back from really getting into this but as most of the post say starting out you need an income to pay the bills till you build a cash reserve and cash flow some properties to replace that income.

Rick
Rick
L&R Renewvating, LLC
(seeking birddogs and wholesalers in York, PA)

Offline spacechimp

  • Member
  • *
  • Posts: 32
Re:Do you enjoy your career? What do you do?
« Reply #10 on: January 25, 2007, 10:23:28 am »
Like spacechimp I am an engineer and I wish I only had 9 to 5 hours. Most days I leave the house at 7 AM and by the time I get home at night it is almost 7 PM.
Rick

I hear THAT,brother

Offline jrmeyer

  • Member
  • *
  • Posts: 18
Re:Do you enjoy your career? What do you do?
« Reply #11 on: January 25, 2007, 10:40:18 am »
I am a chef here in NC.  I have just begun investing in RE. I took classed at my local comm college but i am still frustrated- the real estate market and all that can be done is more vast than I could have ever imagined.  What I know I want to do is build a base of residual income and then use those properties as collateral for flipping, and other investment methods but It seems the more I try to get started, the harder it becomes.  I have great ambition and have spent the past two years fixing my credit and searching the net for info and now I am ready to go; and dont know what to do.  I hear you other investors telling your testimonials and it seems amazing but I dont have one to tell.  Man, you are searching for $60,000 and I just can muster up $6,000.  

Maybe, I have learned too much and dont know what to do and am scared as heck now.  Too much learning maybe has got me confused. (Have you ever met someone who knew everything but wasnt producing anything; just a side joke).  

They say start by birddogging or wholesaling but I cant seem to get a full description on either or a method to begin.

Well I thank you for reading this reply, I guess I needed to vent!!


Hi #1Investor,

Just as an FYI, you might want to check out Therealestatearena.com.  This is what I joined for training on becoming a property locator and investor.  Very reasonable and you get access to investors/PL's all over the country plus initial and ongoing training.

Check it out.

- J

Offline JJ Andrews

  • Member
  • *
  • Posts: 27
Re:Do you enjoy your career? What do you do?
« Reply #12 on: January 25, 2007, 10:47:06 am »

I work in sales for an electronic distributor 40 hrs a week.  My division sells to customers who builds parts for military applications.   Very tough job but it keeps me mentally sharp when it comes to numbers and strategizing.  

My wife is an RE agent but also starting out but we're both excited about getting in to rental properties,  either residencial or commercial.  

Debt is mainly what's keeping us from getting started but we're educating ourselves in the meantime.  401K's just don't cut it for me anymore .. i need more residual income.

Offline dsandlin

  • Member
  • **
  • Posts: 61
Re:Do you enjoy your career? What do you do?
« Reply #13 on: January 25, 2007, 11:09:07 am »
I find this whole question very interesting. Most people are a slave to their job. Told when to come to work and told when to go home, and at the end of the month you thank them for a meager paycheck and for the ability to keep your job.  I built custom inground pools for a few years, found the light of real estate and never looked back. When is the right time to get started? NOW!!!! The amount of foreclosures currently going on and in the next two years are going to be astronomical. You have opportunities everywhere. There are classes you can take to learn how to do this but they are usually very expensive. I read two books a week and write cliffnotes on each for future reference. It doesnt get you the instant knowledge like a class but its something you can do on the way home from work. Stop off at a local book store and get started tonight.  

As to the question of enjoying my career. I wouldnt give it up for the world. I can spend more time with those im close to and actually enjoy WORKING. Actually the term working doesnt apply anymore since i truly enjoy what im doing.  I mix things up with real estate. Buy some homes and hold for the rental income and find houses for others and make them overly happy because they can start doing what im doing. Its fun. Its not a 9 to 5 job and you can make what you want. If 60 grand is enough you will probably be working very little. Want to make a few hundred grand? You will probably work the same amount of time youre working right now just with some time broken up over the weekend. Oh forgot to mention all of the wonderful writeoffs and 1031 exchanges. Build your portfolio and never pay taxes. Its possible. make money every year for the rest of your life and again never pay taxes. Sounds totally nuts but people are doing it across the USA all the time. NEVER STOP SEEKING KNOWLEDGE!!!!!!!! Its the only way you can stay ahead.

Offline Rich_in_CT

  • Member
  • *****
  • Posts: 3209
Re:Do you enjoy your career? What do you do?
« Reply #14 on: January 25, 2007, 11:15:49 am »
Daytime 40 hrs a week in IT.  Nighttime I count money, no seriously.  I work in  a store in the cash office, I used to work around 25 hrs a week with 5 days a week.  I am now down to around 20 and 4 days a week.  I am slowly backing down my hours and spending more time on REI.  Spending my nights after work, my time during my fulltime job, and any other free time on nights/days off to persue REI.  Last night I was off, went to drive by a house in the area.  Saturday I am off and will be seeing the inside of the house I drove by.  If the rehab isn't extensive I'll probably be making an offer on it.  It really all depends on a few factors.  Hoping to start aquiring properties as fast as I can find them using OPM.  As long as the numbers are right this shouldn't be a problem, I'll just need some cash for things like inspections and the like.

 




SMF 2.0.15 | SMF © 2017, Simple Machines