Hello all, I am a new investor looking for some advice on what would be the best investments for a rookie to get the ball rolling. My interest are with Real Estate and stocks and with limited capital I am not sure how to get started. I have noticed Fdjake talking alot about buying Ford stock and to hold on to it for a few years. I guess I’m looking for the fdjake investment plan for newbies. :help
First off, what are you doing now? How much is “limited capital”. 50K, 20K, 10k, nothing? Any debt? How much are you currently making? Are you good at some things like painting/putting carpet in?
These are things that people might need to know in order to help you individually.
But remember, even if you have nothing, you can still make it! Keep your head up!
First step should be finding other investors and find out what they are doing. Whatever area you are in, find out if they have a real estate investors club, and join it. It builds your contact lists as well as having a support group. If you cannot find a club to join call some local landlords.
Wholesaling is a good way to get started with no money. Basically it is brokering houses without having to purchase them.
You should check out the Beginners, Carlton Sheets Forums for more advice.
Here’s what you do…
THROW OUT everything you’ve ever been told about investing unless a KNOWN MILLIONAIRE was giving you the advice!!!
Learn how to FIND property at BIG DISCOUNTS…It sounds simple, it isn’t. The LARGEST purchase most people EVER make is their HOME…Learn how to BUY YOURS at a FRACTION of what every other nit wit pays, and you’ll be MILES ahead on DAY ONE!!!
NEVER…EVER believe what the MASSES believe…They are almost 100% WRONG, almost 100% of the time…In FACT, my experiences have shown me that doing the EXACT OPPOSITE of what the HERD is doing is almost ALWAYS PROFITABLE!!! Magazines like MONEY, Barons, and others are ENTERTAINMENT…Show me ONE ARTICLE from last year in ONE MAGAZINE that TOLD THEIR READERS to buy FORD STOCK at $1.50 for the 7 MONTHS it traded at that level??? There isn’t any…Don’t waste your time.
What you need to do is build a LEAD MACHINE…You need to do this by THINKING OUTSIDE THE BOX!!! That phrase is almost MEANINGLESS today…But it is REAL…and it can be done.
TARGET people with BIG EQUITY, and homes that need REPAIR…THINK about this…WHO HAS these homes??? THE ELDERLY!!!
If you’re SMART you’ll start THINKING of CREATIVE WAYS to REACH these people…Don’t waste my time ASKING me to do it for you…I won’t!!
YOU need to do it…It will show me how DETERMINED YOU ARE and thus…How SUCCESSFUL you will or will not become.
PM me with the ACTIONS you’ve taken tryng to reach these folks…THINK DIFFERENTLY than everyone else, and you’ll get DIFFERENT results.
If you find something GREAT!!
I’ll walk you through setting up a sweet deal that protects you and allows you to sell your first SCORE without laying out the money it would take to BUY IT YOURSELF…
But before we get to that point…You need to PROVE to me you’re WORTH MY TIME!!!
You do that by showing me how CREATIVE you can be in FINDING PROPERTIES…Do a good job??? You get ONE on ONE mentoring for FREE…Do a sh*tty job…You get NOTHING!!! That’s the deal…Take it or leave it.
It’s up to you grasshopper!!
Thank you guys for great advise… I am a interior contractor trying to make my way into flipping houses. I have a house I rehabbed and is listed with a realtor at 4%… only been listed for about a week and a half and already have one offer and another coming in tommorrow. I got the lead from a friend i was doing work for and purchased for $109,500… I put approx. $25k into, and its listed at $194,900… First offer was $185,000 with $5k at closing. Fdjake thanks and I am thinking about where to go for the leads you talk of.