I agree with many of your comments.
After reading my last post I want to inject a couple of other comments.
I am strong on past performance, whether it be in the market place or in the people that I deal with.
For those out there that are starting with next to nothing, I want to say that you can do it, the question is are you willing to change yourself enough.
The best at this will tell you, that it is as much about being is it is about doing.
You have to think different than you ever have before. You have to think different from most everyone that you know. You have to resist their “Dan type” domes day comments. They will put more effort in to stopping you from trying than they would in trying to succeed themselves.
Sorry Dan, but at least everyone knew what I was saying.
Rich Dad’s cash flow quadrant will help you understand why you need to change your thinking from your past way of thinking.
Can you make deals on real estate with poor credit and limited funds of course. It will be like digging a basement with a shovel, it just takes longer to get where you are going.
No matter where you are starting from, YOU HAVE TO MAKE OFFERS.
Many, many, many offers. If you are not making offers, you are not buying property right. You are only buying what others are selling you.
Make the offers suite your needs.
We all know guys that would ask every woman they meet for a kiss. They get rejected alot, but they will get a kiss every once in awhile, and so will you.
It is not important to get every deal and you should walk from most.
What is important is that what you do buy, you buy right, with terms that you CAN handle.
Everyone of you should keep improving your financial picture.
Financial statement - start one now.
Credit report - You can use a service like truecredit.com to pull your own credit, learn how to read it, for these two items make up your financial picture. There are ways to improve them. Also True Credit has a service that emails you when any changes, like inquiries or new accounts are posted to your credit report. Know what it says at all time.
Do not approach this as a get rich quick scheme. It likely will be quicker than most anything else you could do, but you are going to spend years fine tuning yourself, your skills and your financial picture.
If the thought of work bothers you, walk away now.
Most people think that I do not do anything, yet I keep myself very busy and this is where many will fail.
Who is going to make you get out there and work it? Who is going to fire you, if you don’t? Who is going to pick you up when you are down? It has to be you. It is about you, your life. You must apply yourself everyday.
Self-employed = Boss/employee
You are your own employee and as the boss you must be demanding of your employee. Demand results.
As the boss you have many hats to wear and must be demanding of yourself or your employee will not have a place to work.
Keep it honest.
About this whole market up / market down thing, it does not matter which it is, you can make money it both. Make offers.
I like making offers on pre-construction, when a hurricane is just a few days away, some sellers become afraid. Common sense will tell you which properties will not likely have any damages and so what if it does, the developer will have to fix and finish, before I have to close and I’m not responsible until I close.
*Buy when others are selling and sell when others are buying.
*Get most of your gain when you buy and you will be able to handle some downturn.
*Know your value before you make an offer, work from value backwards.
*Appraisers are not always right, know your market.
*Bankers and loan officers do not know as much about money as you would think.
*Experience is something you don’t get until just after you need it.
*If you want the rainbow, you’ve got to put up with the rain.
*Fortune favors the prepared mind.
*If everything seems to be going well, you have obvisously overlooked something.
The early bird may get the worm, but it is the second mouse that gets the cheese.
Well that should be enough food for thought for now.
No Dan, I am not a realtor. I am the CEO of my life and I am great at my job.
CHATTERWEB, did you recieve the information?