Original message
| moseskjp
  |  "ABOUT ME...(long)"
, Fri 12 Jan 05:26 
Ok. I've been lurking for a while now...I've posted a couple of things...I think it's time to formally introduce myself. I can sense the difference of quality with this group (you) compared to other REI communities I've browsed around for tha last few months. You guys are serious - you take this whole thing personally & I like it. You're all not the least bit hesitant to speak very frankly when giving advice & I like that too. I need it. Sheesh, it's almost like a family in here. Well, meet your new brother.
My name is Johnpaul Moses (often go by jp) & here's the very brief version of my story: About 6 months ago, a friend let me borrow Robert Kiyosoki's Rich Dad, Poor Dad. After reading it, my head spun around a few times (as is the case often with people when their whole world-view is turned upside down). I realized that I was running my life (and therefore my wife's) head-first into the rat race. I also then knew that's DEFINITELY NOT where I wanted to be, so I began searching for my way out.
Taking a bit of a hint from RK, I began to investigate the world of Real Estate Investment as a starting place. I started by searching around on-line. I had absolutely NO KNOWLEDGE of ANYTHING relating IN ANY WAY to the subject. Then, while stabbing in the dark one day, I came across a website that had a list of links to "Real Estate Guru's Websites". The only "guru" I'd ever heard of up to that point was Carleton Sheets a long time ago, so they were all new to me.
I browsed a bit until one caught my attention. It was for Graystone Mortgage Co. (I know some of you are familiar with them.) They are a note buying/brokering company that's developed a "turn-key program" called the Beacom Program. Basically, they will hold your hand & teach you how to find motivated FSBO's, tie up the property with a contract for 30-90 days, market it "Owner Will Finance", do a simultaneous close & buy your created note at the closing tabe for 95% of it's value. At the time, I really didn't understand much of what they described (b/c of my lack of any basic RE knowledge), but I really liked that they would fully train & support me every step of the way. So, I bought their materials (about $300 I think plus 20% of my profit from my first two flips).
For the next 2 months solid, I studied their materials inside-out. I'm sort of perfectionistic to a fault. I often find myself feeling the need to understand EVERYTHING before I really DO ANYTHING (yes, Matt, I know what you're thinking!). Finally, I jumped out there. I dug in both heels & started calling FSBO's as Graystone perscribed.
The next 3 months following were the most frustrating months I've had in a long time. I gave it my best go & couldn't seem to make a deal happen. I had several that were close, but nothing materialized in the end.
During that time, my wife & I realized that all of the things that our eyes had been opened to through reading Rich Dad Poor Dad were worth pursuing 100% if we were going to pursue them at all. So, we made the decision that I would quit my "secure" day job & start working part-time late nights at FedEx. This was so that my days could be free to do this "real estate thing". This was really a very hard decision b/c Kara still works full-time days, so we don't get to sleep together anymore (we've only been married a year and a half - give me a break!). It's also tough to be a husband who's being supported financailly by his wife (I guess it's my fragile male ego).
So, we made the big job change...still no deals came through. I couldn't seem to make a Beacon Flip happen no matter what. My friend, Jimmy (also started working w/Graystone at the same time) had actually been able to make a deal out of his first attempt which netted him a cool $14,000. However, this is still the only flip he's done after all this time, so I don't feel like a TOTAL idiot.
Ok...cutting to the chase. About a month ago, I was browsing around the REI websites when suddenly I realized that my toolbox is really very empty. Let me expound on this metaphor: Here I am with this fairly nice hammer (Graystone) at my disposal, but I'm having a really tough time finding any "nails" lying around to use it on. However, along the way while I've been searching for "nails" to "hammer", I seem to have come across a few times where a "screwdriver" (Lease Option) might have done the job just right...or, maybe a "nail file" (subject to) would have done the trick. But, sheesh, all I've got is this "hammer" and...better go find some "nails" & leave all these other deals for those with the right tools in their belts. WRONG! Time for mr. jp to become tool-time Harry!
So now, here I am. I've been rolling around here & there trying to figure out where to start the first grade. In the process, I've stumbled across you...my new family (Anybody feel like a hug?). After browsing through the forum posts (both old & new), I believe I've decided to make the next step Bronchick's Cash Cow. I also really feel like I need to learn about Lease Options, but for now, I'll just have to do one thing at a time. I'm going to dig into this course & try to rely on you guys to help me fill in the blanks along the way. That's right...no more mr. analyze-it-to-death-before-you-get-off-your-butt-and-get-out-there! So, you've got my back, right?
So, here's what I've got before me right now:
I just called in my first "Need to Sell Fa$t?" classified ad to run in every Sunday's paper (it's costing me an arm to do it, but I'm looking at the bigger cost of NOT marketing)
I'm going to set aside 1 or 2 FULL days to study Cash Cow next week. Then, I'm out there working!
I'm going to finish reading all the archives on this forum (you guys are helping me from things you said back in AUGUST!).
I'm going to make some definite goals, put them on poster board, and hang them where I'll see them every day in my office.
That's it. Thanks for hanging in there & reading all about me. I'm looking thoroughly forward to my relationship with all of you. I'll be keeping you posted regularly on how things are going. I'm sure I'll be asing my fair share of advice too.
See ya 'round.
...jp (Memphis, TN)
"Snakes...why did it have to be snakes"
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Replies:
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| wgreau
| "Re(1):ABOUT ME...(long)" , Fri 12 Jan 10:59
JP: What a neat post on your part. I must agree with Dealmaker's comments regarding it.
I have often wondered why some people get a fast start and others take longer, some get a deal and then fall by the wayside, and etc. What I've learned is that everyone has a learning curve based on how their thinking works...as a result of their lifelong experiences. I knew a lady in Texas that started out of the gate with big success in the note buying business. I did exactly the same ad and process that she did and had poor results. Different markets and needs! In her market home sales were slow/poor and her service solved a big problem. In mine sales were good and few saw a need for what we offered. So it goes with marketing. It takes an open mind to learning what ad works, what paper is better, when I get calls am I getting all the needed information to determine if there is sufficient profit, am I using the "feel, felt, found" techniques, and so on. It is all a learning process and, like you yourself said, the fastest way to learn is by being willing to make mistakes, appear not being well informed, or just getting involved and learning from our mistakes. It is by far the best and fastest way to become successful. Like the others,
I sincerely welcome you to this site because you will get all the help you need from everyone when they're not too busy to be on the board. Welcome, hope to meet you in the near future.
William Columbus OH
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| Dealmaker
Moderator
|  "Lay it on the line.."
, Fri 12 Jan 09:09
Greetings JP:
Very few have been willing to "lay it on the line" as you. Our ego/pride has gotten in our way to make a post like yours. There are TON of lurkers here (and I know who they are!) and they read this group but never post. They're looking for a reason NOT to get started. They're struggling in their desire to get started and hope someone will fail so they can use that as an excuse.
Do some fail in real estate? Absolutely.. Actually more fail than those that succeed.
Why do they fail? Inconsistency, no follow-up with calls, they don't make offers, they don't run ads, they don't seek investors, they "think" of 1,000,000, reason why a seller won't sell creatively, and on...and on..
You (to everyone) are the only reason that will inhibit your success. If you don't ask the questions, if you don't post your problems, if you don't ask for help,... none of the experienced investors will know you're in need.
I sought out all the mentors I could find and asked a LOT of questions. I found friends (exp. investors) that were ahead of me that gave me great advice. The important thing is to do away with your pride and ASK!! I still read books, buy courses, and listen to tapes EVERY day. I will never be a know-it-all guru.
These last few months I have re-defined by system. I will eliminate some aspects and will constantly seek way to streamline my success.
Do YOUR part and we'll be glad to assist you in every way we can.
Do it until..
Dealmaker
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