Learning how to buy and sell properties online.

Here is a good subject.  Learning how to buy and sell properties online.  What a concept, I know a lot of the talking heads are saying:  “Oh you can’t do that, you have to look at the property before buying it”  That is so far from the truth, as long as you have your team in place right away in that location it should be a smooth transition without you being there.  You can be on the beaches of Mexico and still get work done.

I sometimes envy those couples that are buying property on those T.V. shows that work from home with a home based busines and are buying property for 1.3m and beyond.  I need to become one of them.

Hello Friday!!!

Hello Friday,

  Today at July 24th 2009 I have some free time because my wife is away doing the girl thing, (Out with her lady friends) So I decided to work tonight.  Not because I don’t have anything else to do but because I love it.  I enjoy the freedom that Real Estate Investing provides so tonight I’m going to set a Wholesaling Goal.  Although I’m going to work tonight to prepare I’m going to start on the 27th, (This Monday) to complete my first Wholesale deal so here it is:

Goal #1  I’m going to complete my first Wholesale deal by August 28th 2009 which I now have 35 days to do it.  Now for the record I have never done a deal or know a lot of the Real Estate Investing lingo just what I have read.  So this is what I have done to get started I called a new Real Estate Investing club and I joined it.  They seem to be much better run than the group that I am in now so please keep your fingers crossed for me.  I talked to a person by the name of Shirley Henderson, I knew her before but we kind of lost touch.  We talked for a long time and the topic was about Wholesaling.  IT IS LEGAL HERE IN THE STATE OF WASHINGTON.  YIPPPPPPPPIEEEEE!!!! I was so releaved to hear that.  So people have said in the past that it’s fear that is holding you back not because it’s legal in your state.  That is far from the truth.  I wanted to be SURE!! If you  come out with a course that says it’s legal and then say you don’t give legal advice then I can’t take your word for it…plain and simple.

So I got that out of the way and I feel much better.  I got a chance to find a Wholesaler in my state today and he gave me the opportunity to ask questions…Anything I need to ask he will help me.  I’m hoping that I can partner in on a few deals with him.  I want to achieve this Goal by August 28th.

The pressure for me to complete my first deal is great, My little brother needs a few thousand to pay for his school come September.  My credit cards couldn’t handle that amount so I’m going to have to get a deal out of the way so I can fund his school.  This is only a one time thing so I will be excited when I achieve it.

Hello world!

Hello world!!!  This is my first post ever so I am excited.  I would first like to thank Steph “Real Estate Wholesaler Supreme Being” for showing me  this site as well as www.strugglinginvestor.com

I will update my blog possibly once a week, sometimes more, sometimes less depending on time restraints.

This Blog is going to focus on Real Estate Investing as a newbie, My thoughts on life in general and some miscellanous things as time goes on so here we go.

STARTING OUT AS A REAL ESTATE WHOLESALER

I have been reading about being a Real Estate Investor for many years now, (Maybe about 4 years).  It started with Robert Kiosaki’s book:  “Rich Dad Poor Dad” I read that book like it was the last book I will ever read, with care and attention.  It taught me what assets and expenses really were.  I did learn it in school but I didn’t think it applied to your personal life and it does. I’m originally from New York City, (One of the most expensive places to live in the United States) and I lived there most of my life.  The cost of living is really high there, I lived in an apartment and I had a car and all of my money that I was earning at my job was going out into expenses.  I rarely saved anything.  The reason wasn’t because of my expenses, (That is an excuse that most of us use) It was because of my poor spending habits.  I learned those habits from my parents who spent everything they had so they lived paycheck to paycheck.  Growing up we always struggled with money, not because the opportunities for more wasn’t there but because we were so wrapped up in how much money we were going to spend. The book Rich Dad Poor Dad opened up my eyes in a lot of ways.  At the time if we made 100% more we would’ve STILL been living paycheck to paycheck because of our spending habits. So more money is not the answer, curbing your spending habits and buying income producing assets is the key.  that’s what I got out of Rich Dad Poor Dad…in a nutshell.

So how does this relate to Real Estate Wholesaling you ask?  Good question:

Rich Dad Poor dad was the foundation for me to learn about assets and liabilities, (I also have and play the Cashflow 101 and 202 games which are very good in my opinion) If I didn’t get into the mindset to buy assets instead of just spend all of the money I have then it would be disastrous when starting a Wholesaling business.  You don’t have any passive income, (Money that comes in if you work or not) so you have to work.  I would’ve spend all of the money I made  from the deals but not have enough to carry over between deals.

So starting out I purchased the “Wholesaling For Quick Cash 2.0″ by Steve Cook.  It’s a good start, I finished reading it in a few days.  It’s a good course but to be honest don’t expect it to be the end all be all.  To all of the newbies out there like me who expects a course to give you everything you need to be successful that’s not going to happen unless you live in the area that the “guru” lives in.  After going to my Real Estate Clubs here in Washington State they mentioned that “Bird Dogging” is Illegal this is coming from actual Real Estate Lawyers who practice law here and also the Vice President of the club Paul Glasso.  “Wait a minute”!?! you ask if you have been told that Bird Dogging is Illegal in Washington State by your Real Estate Investing Club’s Lawyers and even the Vice President but your course recommends to be a Bird Dog, (Steve’s Wholesaling for quick cash 2.0 Chapter 4 page 36 paragraph 3) what is a person to do!?!  look up your states laws on the internet and do your own research, (Mine for Washington State is:  http://apps.leg.wa.gov/RCW/default.aspx?cite=18.85 )  This should be your FIRST step toward being a Real Estate Wholesaler/Investor because if you break your states and/or federal law your “Guru” is not going to bail you out so the point is don’t listen to anybody who says that something is “Legal” but has a disclaimer in a course that says I don’t give Legal advice.

So I am a newbie and what I learned so far is valuable so I will relay it to you so hopefully you can learn from my experiences:

#1  When starting out as a Wholesaler If you haven’t read Rich dad Poor Dad I would recommend studying it.  It will change your mindset on the subject of Money, one of the most highly sensitive subjects in society other than Race and Religion. If you are a reader like I am read Cash Flow Quadrant also by Robert Kiyosaki.  It’s another good book but not as informative and eye opening as Rich Dad Poor Dad.

#2  Go to your Local Real Estate club and see if you can find out who and what people are investing in and what kind of success they have.  See if you can partner with any of the successful people at the club.  If you can’t don’t worry I’m in the same situation since a lot of the Real Estate laws has changed our club has gone from 3,000 members to a few hundred.  Find some like minded clubs to join on the internet, (www.reiclub.com www.RealEstateInvestor.com  just to name a few)

#3  Read up on the laws within your state for Bird Dogging and/or Wholesaling, (It might not be named those in particular but look for something along the lines of receiving compensation Real Estate Agent or Broker)

#4 Buy a Wholesaling course, If you live in a state where a “Guru” is from buy that course, more than likely those systems will apply to you and that particular market.

#5  Get involved in the business, (Meet some Real Estate Agents, Lawyers and even people who do what you want to do find out how they do it and offer to help them in return you can learn the business).  Wholesaling is a people business not a house business.  Once you have the right people in place starting out will be easier than most.

I hope  this helps and I will update my progress as time goes on.

RJ