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Brad Category: Inspirational
Current Grade: A
Total Views: 792
Member Comments: 6
 Posted on: 07/05/2007
Posted by: Brad
Blog Points: 549
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I'm now on my own as of Tues.  I put in my two weeks at work and it turned into getting fired.  I guess I shouldn't have told him how I felt.  Now I have to decided the best path to take in order to launch my real estate investing.  Should I get another job or go after investing with some wholesale deals?

I'd like to get some input on this from some seasoned investors.

Thanks and happy investing,

Bookworm

Current Grade: A
Category: Inspirational
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Matt

Posted By: Matt on 07/06/2007
This is the same challenge that all investors face which has led to a great conversation.

The scenario with your friend sounds like it could be a winner (if you trust him).  Partnerships are not easy, but if he has flexible work (that you can fall back on) and he is also interested in investing than you should look into it.  Combining similar energies can be a powerful thing, sorta sounds like the same situation that Colin and I started with. 

When evaluating your financial situation you need to take marketing costs into account.  I think there are some that can instantly go full time, but most people need a gradual approach.  Your days will not be filled with deal making for a little while, so part time work is not a sin in the mean time.
 
Brad

Posted By: Brad on 07/06/2007

I appreciate all the feedback from you guys.  I have about a months worth of savings and then I'm in trouble.  I have an opportunity to work for a friend semi-full time and actually make more money then I did.  He is also very interested in real estate and we both would like to get into it full time.  We feed off each other pretty good and I think it would be wise for me to get a little work and money right now while I try to put together a couple of deals. 

I have lowered my overhead as much as possible so it won't take much to make more money than I need.  One or two homes would cover me for the year.  I'm all about living poor now so I can live rich later.  Delayed gratification.

Thanks again,

Bookworm

 
RyanDehler
EducatorAmbassador
Posted By: RyanDehler on 07/06/2007

I did the same thing. Read my profile. Quit my job with almost no money and turned it into a pretty lucrative business. Just go for it. Set up an LLC. order some Avoid foreclosure and we buy houses signs, stick them out and go to your local rei meetings and whole sale anything you find for 2-10k a pop.

-Ryan

 
kane13
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Posted By: kane13 on 07/06/2007
Weighing in the fact that obtaining loans isn't as easy as it was having documented income from a job is certainly going to make obtaining properties easier, but if you feel good about wholesaling get after it.. It might be most ideal to find a part-time job, so stated loans won't be as tricky and you can have more time to find deals. good luck
 
crystalwillett
Ambassador
Posted By: crystalwillett on 07/05/2007
I started without a job.  It's not easy but it works.  Read my last blog and see what you think about it.  "How do I get started?"....
 
bicycledays

Posted By: bicycledays on 07/05/2007
Don't get another job. That's going backwards. Focus in on working for yourself, even if you have to go into debt in order to make it happen. Read all the blogs that are here. There are a lot of helpful blogs that can get you going. Congratulations on your new life. Kris