starting REI with no job

General Real Estate Investing
21

NickL,

I think that you missed something in the translation! I was answering a question by JBI regarding why BANKERS consider someone without a job a higher risk.

Mike, you sound like the classic ingrained corporate HR 'executive' (a term I use loosely) who summarily rejects anyone who has not worked (for whatever reason) for over 2 months and ostracizes anyone who returns to school full time or decides to start their own business

It’s funny that you would say that I ostracize anyone who decides to start their own business. I haven’t had a job in over a decade and am currently a “full time” real estate investor, although I am running other businesses also. In addition, I think that the days of working for some corporation for a lifetime are over and so are the days of counting on a company for a pension. At any rate, none of my comments were directed to or at you - they were simply answers to JBI’s question.

I found your point that it may be difficult to go back to the corporate world after REI to be interesting. I hadn’t considered that possibility, but I think that you are correct. Fortunately, that isn’t a consideration for me. Once you get accustomed to being self-employed, it would be almost impossible to go back to the corporate world anyway. I can’t even imagine asking someone if I could take the day off and I certainly can’t imagine having an alarm clock disturb my sleep every day. Worse of all, I absolutely hate working a set number of hours per day. Sometimes I feel like working 14 hours and some days I work 3. I haven’t decided about today yet - I’m thinking 10 to 2 (it IS Friday).

Good Luck,

Mike

22

There are so many options, you really just have to do a lot of research…that is the hard part. It is easier today than ever.

23

hi all. well i been trying to get start in rei for some time now with no luck. you said talk to realtor about finding some deals realtor dont even want to talk to with a apporovel letter. iam maryland there are lots of rehabbs .

24

also realtors want earnest money dep. so how can it be done with no money

25
also realtors want earnest money dep. so how can it be done with no money
You get the money back. It is not gone. No money down doesn't mean you don't have to have any money. You can use someone elses money or use money that you get back at closing, or after you refinance etc.
26

iam going to start by birddoging.