Hello to all of the Real Estate Investors on this site.
I just recently lost my job because of company downsizing and I’m shaken up by it. I will not have a job after January 5 2007.
I’m scared and excited at the same time, after reading Robert Kiyosaki’s book and some Carleton Sheets material there is hope for me and my family. I thought there was no hope at all.
I was wondering is it possible to make a few thousand a month as a full time investor? What are my options?
I prefer to be an investor so I don’t have to beg someone for a job or have them turn you down because you “Stand out”
I’m with you too, I haven’t lost my job yet but the announcement is probably on the horizon. Company is standardizing and centralizing operations to a location not yet known (but not where I currently am). I would rather be more in control of my life than having a big whig from above lining his pockets and telling me where I need to move my family and decide what I will do with my life.
I want to continue working my current job until maybe a severance package, I would also be interested in answers to your question - “I was wondering is it possible to make a few thousand a month as a full time investor? What are my options?”
Should I have a separate job for a few years until I can get several houses under my belt or go all out?
I’ve been used to a steady job paying fairly well for the last 8 years, received a college degree and have an MBA, but I’m to the point where I really don’t care about corporate business. The employer has no regards for the employee and I would rather control my own destiny.
I’ve been on this site and reading all the posts for several months now, I need to bear down and get started. Just concerned with a baby on the way and the fact that I bring in the primary income for the family.
Anyone have advice or input? I need to overcome the fear, but I don’t want to do anything irrational.
My advice to both of you is to get a job in the short term! It is EXTREMELY difficult to start any business and the vast majority of people who try FAIL. To try to start a business without a job (or some other steady source of income) is absolutely CRAZY! If your spouse has a excellent job that will cover all of your living expenses, then you might be in a position to try. Otherwise, get a job and then work like a dog to start your REI business at the same time. When I started my REI business, I worked six 12-14 hour days each week for 2 years. Now, I am enjoying the fruits of those labors and only work 3-4 hours each day a few days each week. In reality, I’ve been able to take most of the last 2 months off and plan to take a good portion of January and February off to go skiing.
The gurus that pretend it’s a blessing to be laid off are simply RIDICULOUS!
I agree with Mike… REI is not as simple as people think it is. Get a job to make sure there is food on the table, then find out how good you are at investing. Now, can you make few thousands a month? maybe… REI is like consulting… you can go months without getting paid then get a big check, or you might be smart enough to wholesale a deal a month and make that money.
Ask yourself, how will you find the deals? how much marketing budget you will need to generate the monthly deals? how many leads will you need to close a deal? who will you sell the deals to?
If you don’t know the answers to these, then how are you going to make few thousands a month?
Good advice here. Sellers and other investors will be able to smell desperation and if you aren’t really running a true investor practice. There are a lot of tools to help you get started, but it will take dedication, networking, marketing, and some type of plan to start and run a successful investing business. Otherwise, you’d waste precious money and time.
I don’t mind working long hours for myself because I know it will benefit my family directly. Working for someone else is a different story. In the coroporate world I am a hard worker I put in 10 to 13 hour days 6 days a week. As I am now getting laid off what do I have to show for it…Nothing. I did get an employee appreciation dinner but that doesn’t put me in a better standing for a better job.
All of my ideas got used and I didn’t get anything in return for it.
Sorry folks for ranting on here but I have a lot of nervous energy.
At least christmas is paid for.
I will continue to look for another job and still work investing in real estate…I HAVE to make it work…not I would like to or I need to but I HAVE TO.
Now as far as finding deals, I have to find a formula that works, master it and just go out there. I know I’m going to make mistakes
and it’s probably going to be even painful in the beginning but I’m going to keep pushing until I do it.
Okay…due to the fact that I don’t know how to invest from a hole in the ground I’m going to start this way:
Writing down my goals: DONE
Writing down how to achieve them: DONE
Going to a local Real Estate club to find out
about your local marketplace: (The first one of the year is in January)
Hope and pray that things work out, if it doesn’t learn something from it…
but I have a lot of nervous energy.