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Category: Inspirational Current Grade: B+ Total Views: 461 Member Comments: 2 |
Posted on: 04/26/2008 Posted by: J.Reyne & Associates© Blog Points: 60 View all blogs >> |
Dear Friends,
Hi Everyone! My name is Jovan Figueroa. I know at least for all the newbie’s like me, when it comes to real estate investing it is not an easy task. We yearn for the heaven's to have mercy on us. We wait for the clouds to break in halves just to have God hand us that “BIG RED EASY" button for us to press and walllllaaaaa we are rich gurus of the game. Not really. This is a small portion of how I got started and hopefully this helps a little.
When I started off I was a mortgage broker with a company in Orlando Fl. I met a man who had claimed to be the investor of a lifetime and he was self proclaimed "the man". He said he could get any deal before anyone and that no one in Jacksonville can get the deals before him. To make a long story short for almost 8 months I did everything he said. I made calls, tried to do all his mortgages for his clients and pretty much became a part time tenant in his home. I was more of a "time investor" then a "real estate investor".
I got nowhere! To make a long story short this guy knew limited English but when something did not go his way he learned the dirty words faster than a pudgy kid running for a piece of cake! (No offense to the pudgy kids, I was one too and I slimmed out over the years) He did not only do this to me but to about 3 others also.
Here was what I did and this may not work for you but heck I know how it feels to be frustrated and getting nowhere. The good thing is GOD IS GOOD! He puts people like Colin here on earth to keep us connected to each other when we really need it.
My advice:
1. Educate yourself ( Learn everything and anything about your market or the market you plan to invest in)
2. What type of investor are you? (Are you wholesaling, buying and holding, buying, fixing and selling (negatively known as flipping), using lease/options?)
3. Know your plan of attack as well as your exit strategy! (You need to know your way out even before you seal that deal)
4. This is a bit of contradiction, but don't over-educate yourself on books and seminars. (Too many people become seminar junkies spending thousands on real estate courses and never do anything with it.)
Over view:
Make a decision as to what type of investor you are, get educated, and most importantly take action with proper mentorship.
(These are merely my opinions and a small, very small piece of how to start. Too many people jump in the game and have no idea of what they want to do)
If I can do it, I know you can!
God bless you all,
Jovan Figueroa
John Corey
this game is real simple....
Buy low and rent/sell high
spend less money than you make
everything else is small details, important details but small one's