It was about two years ago when I read a book called the Secrets of a Real Estate Millionare by Robert Shemin. Before the book I had been working in corporate america all forty years of my life it seemed, going to school chasing better paying jobs, looking for advancement in the companies just to find out I was no further in my life financially than when I first entered the work force. It seems I only receive just enough pay to keep me coming back but never really enough to make a difference in my family's lives.
Well, after reading this book about real estate I thought it seemed easy enough to go locate a property for less than the full value, put it under contract, and then find a buyer who would purchase it for the full market and I take home the difference between the two. I located a property, but when it came time to put it under contract and with my inexperience the realtor saw right through me.
The REALTOR asked me a simple question, “Have you been looking at those late night infomercials and books about real estate?” With my head bowed down I said “yes” and she immediately started on me and suggested I go get my license. As I left I asked for the contract as this would be something for me to read over in the future.
After this I nearly gave up from the embarassment and loss of confidence. It was six months later before the bug bit me. This time it was from a friend I had previously told that I was interested in REI. He said there was this guy coming to town to teach REI techniques so I took off from work, gave money I did not have, and listened intently for three days about different investing strategies.
Afterward I went out again with bold confidence just to find out this guy was a fraud. Nevertheless, I retained some of his knowledge and by accident I stumbled across my first deal. Under the tutelage of the fraud teacher who now has been run out of town, I would go out to strike a deal with a FSBO and run an ad in the classified for buyers.
This one buyer called me on my ad and I confessed to him I no longer could offer the FSBO house since I had been instructed all wrong on doing this business. I did offer him my home for a price. Now folks, this is when I realized I would stay committed to this business. The buyer offered to purchase my house which would net me a nice sum of money and to prove he was serious I received $5,000 earnest money in cash in my hand for a lease option.
Well, I started looking for another house and when I did find one I patiently waited on the buyer to come back before I would close on my new found home. It had been over a month and I had not heard from him so I postponed my closing and after two more months and no sign of this guy and me holding $5,000 from a ad I knew this business was my calling.
The guy never came back. I have since purchased tape manuals and attended siminars on REI. On one Sub2 deal I received $40,000. down after picking up the property from a motivated seller for less than 4k. Similar transactions has netted me 5k, 10k and to this day I have at least 10 properties with the smallest amount received being $2,500 down.
I am positioning myself with God's blessing to leave my job by the end of June 2004. I tell you to stay committed and not be discouraged and all that you ask God for will manifest itself, if you believe it. Now don't just take my word, try it for yourself. This is a awesome business if you truly want it. Good luck to everyone.
Fort Worth. TX
We love your feedback and welcome your comments.
Please post below: