The Philosophy of Painting & Life

Today I did some painting in my own home. I actually really enjoy painting, but only because I do it on my own terms.

OK, before you yawn and click away, let me tell you a little about how I paint. There is no tedious taping. no drop cloths. No pushing all the furniture into the middle of the room. No messy rollers and trays. Just one gallon of paint and a stubby paint brush. I may paint for 20 minutes or 3 hours, the point for me is that I am doing the painting. The project is getting done.

I have freinds who have lovely houses with not a lick of the walls painted since they moved in years ago. Usually they say its just such a big task to tackle, they never have enough time, energy, or motivation to undertake such a big project. Well, I have an acute lack of all three of those as well, and yet my house is slowly becoming a cozy, colorful abode instead of keeping that stark white institution look.

I have a sort-of philosophy in life. Nike stole it from me about 15 years ago but I still hold it as mine... Just Do It.

If there's one thing I can't stand its wasting time to get something started. I have a motivation problem (do they make a support group for that?), so when I get in the "mood" to do something, I need to do it NOW. To me, all the set up that most people think is necessary to start a paint job is a non-issue. Just grab a brush and get going for God's sake! Or else you may never find the time to go through all the steps you supposedly need to get to the final result.

The thing is, this philosophy holds true in so many other areas of life and business. We hear all the time about "analysis paralysis" and "fence sitters" and people who get lost in the prep work only to give up and never make it to the actual meat, the fun part of the project. Why in the world would anyone beat themselves down on the minutia of start up details when really all they need is a good brush and a bucket of paint?

Of course, it is true that I have painted a wall or two, or several dozen, before. True, someone who's never held a brush should absolutely take more precautions and do some practicing. But this is not rocket science, and the things most of us do in life and business are not either. It shouldn't take too much prep for even a newbie to be ready to dive in and get started. Anyone who does suffers from one of the two other afflictions that should also have support groups: Fear and Laziness.

Keep it simple, people. Most projects and business endeavors need not be so monumental that you just don't want to think about getting started, and so never do. Do yourself a favor. Buy a little paint, dig out your brush, do a quick test run or research if you feel the need, and then JUST DO IT. You'll figure out the best methods and your own style as you go, and you'll actually be making progress as you figure it out instead of waiting for everything to be set up just right before you even begin.

Oh, and yes, sometimes my walls are half-painted, a project in limbo, for days, months, even (my dirty secret) years, but at least I made progress. I got started. That's more than many of my friends can say, and more than so many others out there can say about starting any number of things. If you wait for everything to be ready and perfect, you're probably going to be waiting a very, VERY long time. Action, even action that may be a bit messy and unprofessional in the beginning, is better than inaction. Everything else can be learned or fixed as you go along.

Stay tuned for the next episode...

Alright, I've been debating for months if I should restart this blog. After my world sort of fell apart last September, I thought it would be useless to post all the whining and blubbering that would inevitably come out when I sat down to write. Suffice to say that nothing I was working on previously actually ended up closing, and I spent the last few months of the year wondering what in the world I was trying to do with my life, both in business and personally (which for me are so intertwined its hard to separate anyway).

But, here I am, writing the next installment. This year, in 2010, I am learning to work and live a different way. Some of the crazy passion for life and work has somehow gone out of me, which was scary and dissapointing at first. However, I have come to realize that being more level headed and less emotionally involved in everything gives me the distance to hopefully make better judgements. We'll see how that turns out, won't we?

So hello again to all my friends that were following my expolits. I'm still here! And I'm back in the saddle, although I'd say I was easing into it this time and not hitting the road at a wild gallop. On the business front, leads are still coming in and I'm still looking at houses and small multi-families. None have been that interesting... yet. I've decided to operate under the guise that I don't NEED my next deal, I can be picky and wait for the right one to come along. Its a good feeling, one I believe will work to my benefit in the long run. I hope you'll all stay tuned in for this new season of Investor in Limbo. I know I'm anxious to see the outcome of the next few episodes!

One hard week = A quad for Melody?

Nope, I haven't forgotten about my blog here. I've had one hell of a crazy week or so, chasing leads, answering the phone, looking at properties and generally feeling like I'm actually doing work. WORK. Ugh. Not exactly what I want to be calling it but hey, the going is starting to get tough so you know what that means...

I'm not going to go into much detail because I don't want to count my chickens before they hatch, so to speak. But, you know how I've been hankering after a multi-family for a long time? Maybe you remember my goal of purchasing a 4-unit building this year? Well I did look at a quad on Monday that pretty much took the cake of all quads I've looked at over the last 10 months. Only one little catch, its an REO. Well, I wasn't about to let anything as small as being unfinanceable stop me from scooping up one of the best deals in town. I put in an offer on it the next day (had to get a POF letter and certified funds for the earnest money) and after some negotiations I am officially under contract with a DAMN good deal. Tons of equity and cashflow to be made on this baby. Now I'm just working out the whole financing problem. I may have found someone to partner with me and get the deal financed for a 50/50 split on the equity and some of the monthly cashflow. Fine by me, if it works out I'll gladly give up whatever it takes to get the deal done. It will be a win-win-win-win situation! :)

Found some other deals, not quite as exciting as that quad but still interesting, that may come to fruition soon. One is actually a pair of other quads that may become Sub2 deals. Its really been a tough week though. I've got to say that if I have to work this hard every week in order to do good business, I may have to just start looking for another job. Especially if all of the work I did this week actually turns out to make zero money. Won't that be a gigantic disappointment? I know its not going to be all bon-bons and rainbows in this business, but I am seriously exhausted and can't remember when I've ever been so busy. But, I think I've got at least one thing in the bag, hopefully two. So as long as something pans out I think I'll be okay with my progress.

Oh, and I may have said I would be blissfully at home for the whole month of August, but it would seem that duty calls and I am once again leaving for the great north and their most excellent pizza. Long distance rehabbing is quite interesting and with New York winter not too far off, we figure we should get as many visits in as we can while the weather is still good. So, I shall answer the call of the paintbrushes and drywall once again. Hey, what good is not having a J-O-B if I can't up and travel at any time for any reason at all?

I feel the NEED for LEADS!

I'm BAAAAAACK!

Whew! I feel like I've been living out of a suitcase for close to a month. Travelling up north multiple times and then vacation to the beach (not that I'm complaining about THAT), I barely had time to unpack for one thing before I was packing for the next! But now I'm back at my home sweet home with my lovely fluffy bed (soooooo nice to sleep in my bed) and am ready to make things happen for the month of August.

July found me getting mentally ready for some big things to happen and laying ground work for what I'd need to really hit the ground running when I finally had the time to devote to my real estate business. I created my new website, created fliers and ordered mailers and took care of some "administrative" type duties last month in between travelling times. And now the time is here for the race to begin! Run, Melody, RUN!

I absolutely know that the few and far between leads that I've had trickling in from random places are not going to cut it if I want to do some serious money making business. And now I'm getting the itch to fill my pipeline. I feel the NEED for LEADS. I want my pipeline funnel to overfloweth. And of course, I want it that way on a shoestring budget because I am, after all, unemployed and broke!

But that's one of the beautiful things about real estate investing businesses I think, marketing doesn't have to cost us big bucks. A home printer and a ream of bright yellow paper is dirt cheap, and home made "bandit" signs (so I'm told, we'll see) are just as effective as pretty printed ones. And branding? Who needs that in our business? Maybe its helpful if you can afford it, but I don't really need to have fancy pens with my company name or a logo emblazoning everything I own like Realtors often do. My website I did myself and pay $5 a month for hosting, talk about affordable! When I was with my former business partner we wasted a lot of money on "marketing" that didn't produce very good leads, and I feel confident that what I'm doing now will be much more effective at a much lower cost. Of course, the proof will be in the pudding (more like DOUGH I hope!).

Today I devoted the entire day to business, even though I had to tote the kids along and subject them to several hours of riding around neighborhoods looking for interesting properties. OK, entire day minus time for a trip to McDonald's for lunch (their reward for not driving Mommy crazy in the car) and a quick stop at the grocery store (does anyone else go through 5 gallons of milk a week???). It really felt great to be focused on one main goal for the day, definitely something I'll do again and try to work in once or twice a week. Of course, tomorrow I promised we'd go to the pool and then there's the back to school shopping that needs to get done and errands that need to be run etc etc etc. Hey, one or two days of focused real estate work will be a big accomplishment for an inexperienced stay-at-home mom!

So bring on those leads, I'm open for business and ready to get my buying groove on!

One small goal at a time!

For the first time in over a month I feel like I had a good week!

I really do struggle with time management, goals and priorities, so meeting one of my goals this week feels like an incredible accomplishment, even if it is a somewhat small goal in the grand scheme of things. This week I set a goal of getting a website up on my domain that actually works and can capture lead information for me while I'm out of town for almost two weeks. It's a wonderful feeling to have accomplished that goal!

I did have to let some of the other things I have going on slide a bit. Just based on this week though, I think I've found a good formula to work with when it comes to my own schedule. Setting daily goals and making daily schedules and to-do lists just leave me feeling overwhelmed and unproductive.

This week I set one major goal: Design website and get it up and working. Then I had a couple secondary goals: Go to my "problem" rental to mow the grass and remove all the staging items to get it ready for the new tenant, and to attend a meeting for Local Real Estate Deals Magazine to go over some new and exciting things we're working on. I also had to make time for the kids and took them to the pool and park a few days. So all in all it was a very successful week! Several of my "bottom" goals did not even get touched, but perhaps they will one day have their turn being the top goal of the week.

The working website was a primary goal for me because I am aiming to capture as many leads as I can over the internet. Taking tons of phone calls all day long is not feasible for my life, and paying a phone service is not yet in the budget (but I know the value of them having used one in my previous REI company). So my new marketing and mailers are all going to be driving sellers to my site to capture their information. Cross your fingers that it works for me!

So if I didn't email you back or take your call or meet with you this week, I hope you'll forgive me for putting on my blinders and working diligently on meeting my first of many weekly goals to come. Obviously I don't want to ignore the world every week, but think of everything I could accomplish if I could!

My problem property gets a tenant... finally.

I have this rental property that's been a thorn in my side pretty much since the day we first acquired it. I bought it late last fall with my then partner, intending it to be our first minor rehab and then to rent it out after the fix up. We got seller financing and used a credit line for the simple rehab materials, and decided to do all the fix-up ourselves. Ideally we were hoping we'd be able to lease-option it to a first time lower-income buyer and give that person the chance to become a home owner, but it seemed like it was in a great rental area and so we were fine with straight renting it if we didn't find a tenant-buyer.

I can not begin to describe here all the things that went wrong with this property, both because of the house itself, because of the time frame we bought in and because of my partner's and my various shortcomings (lack of time, lack of agreement, lack of a pickup truck, etc.). Perhaps one day I will be able to share the grueling details with you all, but I think I need a little more time to heal first. I can say that lease-optioning didn't work at all, and finding a tenant has been a difficult puzzle to solve. The neighborhood was full of rented properties, the rent was right, and the phone rang consistently, but for some unknown reason I could not get a prospective tenant to move into the house. Its shameful to say this, but the property has been vacant all this time, and carrying costs are eating us alive!

So now we have a tenant ready to move in on the first of the month. Please praise the God or Goddess of your choosing for us. I find it interesting, though, that the longer this property sat around and did nothing for us but drain our bank account, the less and less I was interested in dealing with it. I know that logic dictates that I should have become more desperate to get it rented and therefore worked even harder, but the exact opposite is what actually happened. And it wasn't just me, my partner actually "lost interest" long before I even did, and only thought of this house when he wrote the check for the mortgage and called to ask me if I'd found a tenant yet.

How did we finally get it rented if we'd nearly mentally written it off, you may ask? We finally decided to hire a property manager. Sad, but the decision had to be made. We opted to have the management company only handle finding the tenant, I will still be managing the property after she moves in. Its a big blow to my pride that I could not get a tenant in the house myself, but at least now I do not have to duck the question at my REI meetings of "So did you get that house rented yet?" Ummm, no, hey what's that shiny thing over there?

I think its important to realize when you are not performing as well as you'd like to be and to know when its time to delegate things to someone who will get the job done and/or clean up your mess. Granted we probably should have delegated a lot sooner, but at least we made the decision to do it now before it got any later in the year. I had nightmares of crossing the one year mark of holding this house with no tenant!

So as of the first we will have no vacancies, hooray! Now I can concentrate on finding more properties without feeling guilty that I still have one sitting unrented and semi-forgotten. I think I'll skip looking in the same area as this particular house for a while though!

So what is my real estate investment strategy anyway?

Many people lately have been asking me what my real estate investment focus is. I can understand why, since right now I don't have a lot of details on what I'm working on in my blog. That's because its a whole bunch of NOTHIN' at the moment. I'm working on changing that, new marketing materials have been ordered and some new ideas will soon be implemented. So much happened in the first half of this year that was totally unexpected and really threw me off track, and made me reevaluate and have to start over in some ways. I can't believe that half the year is gone already, but I'm glad to be getting back in the saddle now instead of later!

But back to the question, what is my focus? In theory that's simple, I buy rental properties that I can hold for monthly cash flow and long term equity gain. I acquire these properties sub2 or with seller financing and then put a small amount of money and/or elbow grease into them to get them rental ready. I need monthly cash flow because I need some stability in my currently very sporadic small income, and long term gain because I have ended up with no retirement plan and know that Uncle Sam isn't going to be able to help me by the time I'm ready for retirement, I have to help myself.

In practice, its not so simple. The many leads that come in with every new marketing push usually means I end up exploring other areas of real estate investing that aren't necessarily my focus. So many of them are good leads, just not what I planned to be looking at. Some need short sales, some need cash or financing to get the seller out of a short term loan, some need so much repair that I couldn't possibly use them, some are in areas that won't rent well or are in areas that I personally just won't go into. You know the drill. All those who have done any marketing for properties gets calls and emails from every type of seller, not just the ones you actually want.

So I usually end up getting all involved with properties that don't help me towards my goals. Most of the time I'm okay with this. There is a lot to be said for learning the ropes on multiple investment strategies, and I never think it hurts to get out there an make more offers. Very often these "other" leads and offers don't end up going anywhere for me, whether because of my own lack of knowledge, my lack of interest, or something else I'm not really sure. But I do know that I certainly wouldn't mind becoming what Dave Lindahl calls a "transaction engineer" and being able to close more of these other leads more effectively. Working on that too, reading a lot and learning more about what others are doing, and getting some practice on those leads doesn't hurt. (don't worry, I never screw the sellers, if things don't work out I always refer them to others in my network that should be able to help them better than I can)

I know I need to "get paid" more often for all the time I end up putting into some of these deals though. Having them fall apart with nothing to show for my efforts really stinks. So I joined a new group in my area, the Richmond Wholesalers, with the thinking that rather than waste my time on these properties that don't fit my model and end up not getting anything out of them for whatever reason, I could at least be trying to wholesale them and make a few thousand for the effort. Duh, you say? Well yes, but I will tell you of my own previous wholesaling experiences and the fates of several other wholesalers I know in a future post. Lets just say its not as much of a no-brainer as you might think.

So there's my focus for those of you wondering. Buy and hold rental properties in decent condition with creative terms, and wholesale anything else interesting that comes my way. Lets see how far I get in this round of marketing keeping that focus on the straight and narrow.

Are you working on your financial Independence Day too?

Back in January I set a few broad goals for the year. Not too specific since I'm still feeling my way through this business and wanted flexibility to change things as needed. My two main goals were to quit my job and buy a multifamily building of 4 or more units. Hooray for achieving goal #1! Not exactly the way I had planned it, but still, I've been blissfully free to do my own thing for over a month now. As for goal number two... well, for it already being July and I've made nearly zero progress on that one, I'm not so confident it will happen. Don't worry, I'm not giving up. Not at all. Six months is still plenty of time if I buckle down. But I'm also okay with it if I fail to meet that goal this year. Things change and life sometimes creates new priorities, so I'm not going to beat myself up over not making my own self-imposed deadline.

With tomorrow being the 4th of July, America's Independence Day (how'd that get here so fast?), I'm sure many of you are reflecting on what we are doing with our own independence, or maybe how we're going to gain it. I know I am. I'm a voracious reader, and the more books I read on money, real estate, and personal fulfillment the more I strengthen my belief deep in my core that I must become completely free and independent of that which holds most of us back from achieving our dreams, MONEY. As Kiyosaki frequently tells us, money is just an idea, a concept. If we let something as easy to change as a concept hold us back from reaching our full potential, how will we ever be free from the more physical restraints in our lives?

My financial independence is coming. I know it will happen and feel it slowly happening every day. This second half of the year will require a lot more hard work in a totally new way for me, but with some diligence I should be well poised to make next year a spectacular one. And next year is my husband and my 10 year anniversary. A goal for next year is to take a great trip, preferably out of the country, like we did when we went on our honeymoon to China. A lot of groundwork needs to be laid this year for that to happen. Time to become a true mover and shaker and change my family's lives for the better. Buying a few rental properties is a good start and certainly helps the process, but I need to think about the bigger picture and how I can truly become free from the tyranny of money in the long run.

Who else out there is working on their own independence day? I hope you see the great things to come just as I do!

Time for some focus and *maybe* some guidance

I've been thinking a lot about my poor time management and how I'm going to overcome this insanely large hurdle on my own. I loved all the comments I received after my previous post, "So Apparently I Suck at Time Management." It would seem I'm not the only one! Yes, we all obviously get the same 24 hours each and every day, and its heartening to know that many of us still have not figured out exactly how to make the most of them.

I realize that first and foremost I must learn to focus better. With so many different things that need my focus, I have been crazily trying to do them all at once, which is only creating chaos and not results. A month of floundering is enough for me to know that things aren't going to simply fall into place on their own, I need to be proactive about setting specific times and days for each focus area. A written schedule (and maybe even a timer) will be my next order of business.

The second idea that has been rolling around in my head is the possibility of finding a mentor. It makes my insides recoil to even contemplate it, but the thought is there nonetheless. So far I've gotten in the game with no mentor, very little advice, and only a few books and home-study CD's. I'm the type who learns just a little, then hits the streets and gets to the fun action part of the game. I am a fiercely independent person and can not stand to be told what to do, how to do it, or to answer to anyone else. Gee, I wonder why I often didn't get along with my previous bosses! I also really like to pave my own way, learning from my mistakes and not buying into anyone else's "proven system for success." My success will be my way, not simply a copy of some other more successful person's.

But, with the clock working against me and so many other things pushing me back, I'm starting to think that having a little guidance and a little pushing from an outside source would be a big benefit to help get my priorities straight faster. I did manage to start my real estate investment business on my own and got my feet good and wet with all the mistakes and challenges that go along with that. Now that I'm in the water though, I think I'm realizing that wading into the shallow end and really swimming through the deep water are two very different concepts, and that I'll learn to swim much faster if I have a swim instructor standing along side of me.

So now comes the question of WHO I will choose to be my swim instructor. The choices are nearly endless, especially when I have several different interests within the field of real estate. Then there's the question of going with a well-known name or a local "Joe" who is doing well. I do have a short list of about 4 or 5 individuals, but which one at the top of the list varies depending on the day/week/latest webinar I've logged into. I'm very pleased to have connected with most of them through various social media, especially Facebook. I think that seeing the interactions of these people in their everyday lives and businesses helps show their true character and lets me know if they are someone I can A) get along with and B) respect and actually want to listen to.

I leave tomorrow morning for another long postponed trip to see more family this week. Next week (after my return) starts the new daily FOCUS plan and further decision making of engaging a mentor. Gonna be giving myself some tough love and really working to get my top three priorities some individualized attention. Call it my mid-year resolution!

So apparently I suck at time management.

Man, when I had a J-O-B I thought to myself, "all I need is to get rid of this horrible time-wasting job and I'll have all the time I need to finally get things done!"

Nearly one month after fulfilling that dream, I still have no time. There's just never enough. I seriously don't know how I gained 9 more hours in my day and yet still accomplish so little!

I started out with a plan. Really, I did. Sounded like a good plan on paper. I would spend my early mornings doing emails, then get out of the house to either run errands, take the kids someplace fun, visit properties or drive around neighborhoods looking for possible property leads. I would alternate the activities on different days. Then we'd come home, get the kids some lunch, put the little one down for a nap, and I'd start make phone calls and send more emails for the rest of the afternoon. Seemed perfect, but in reality it is just too much to cram into one day, every day.

My online stuff takes much longer than I time-budgeted for. Between multiple email accounts, social networking, blogging, reading articles, doing internet searches, etc I can easily fill up the entire day just sitting in front of my computer. Which is NOT what I envisioned me doing when I left my cubicle where I just sat in front of the computer.

On my list of things that aren't getting done: go to the bank and deposit some checks, call back some potential tenants for one of my properties, do searches for specific property types in the area to send letters to, go to the store to buy an ink cartridge so I can print some forms and return them to a Realtor that's asking for them, figure out a better system of organizing my leads, take the kids to the Library to get library cards and books, and many others I'm sure.

I need a new plan. I'm thinking about trying to designate certain days for specific activities, but having two kids at home makes that a bit more difficult since I am often limited to scheduling things around meals, naps, play time and the incessant need to break up the "Whaaaa!!! He stole My toy and pulled my shirt!!!" fights.

I used to consider myself a great multi-tasker. Give me a pile of work and I'll tackle it all at the same time. Now with undefined work and undefined times of doing it, I have turned into a disorganized mess. My husband even rightly teases me for not being able to do a simple load of laundry while I work from home. I mean to, I just get distracted and time slips away then before you know it he's coming home and the laundry never made it to the basket! (obviously he didn't marry me for my homemaking skills!) Not to mention I never left my computer and very few phone calls were made. Arggggg, how does the time get away?

So, I'm working on a new plan. It may take a while for me to find my right grove, but I'm trying to come up with something workable immediately if not permanently. I know I'll figure it all out eventually, after all, many other people in similar positions have figured it out and area doing well. I just get frustrated when the goals I set for myself need to be readjusted so drastically. But, if the system isn't working then its time to get a new one. There's no way I want to be still floundering at this time-management thing in another month. I'm up for any ideas and suggestions if you all have them!

Lets whine about how life gets in the way...

As part of our evolution at Local Real Estate Deals Magazine, we will soon have a columnist (and good friend of mine!) writing about the perspective of women real estate investors. Lets face it, men in this industry far outnumber the women, so there are certainly some differences and stories behind those of us in that minority!

Being a member of this minority and talking to my friend about the column got me to thinking about my own experiences as a woman real estate investor. After some careful thought, I don't believe there is a true disadvantage to being a woman in this industry per se, I've had no more difficulties or challenges than many men I know have had. A different perspective, for sure, maybe a little more weeping when things go wrong (not me, but maybe some of you others, right?), but nothing is inherently harder from my experience. Perhaps, even, there are some actual advantages to having some feminine wiles in an industry of men. You know what I mean, Mr. Officer who let me out of that ticket [bats eyelashes coyly]???

Instead of my gender being an obstacle in my business plan, I realized I have a much different "problem" that I work every day to over come. Its the particular stage of my LIFE that poses the biggest challenge to me. True, everybody probably thinks "if only such-and-such in my life were different, things would be much easier!" But I stand by my own claim as being fully legit, darn it!

Let me start by saying I don't regret starting down this path when I did, and I am a firm believer that its never the WRONG time to take control of your financial future. If you haven't started because you're waiting for the right time, STOP WAITING!!!

However, I can't help but think sometimes that if I had started 7 years ago I would have no children, less debt, and a much more carefree way of life as compared to my current situation. I would not have a problem loosing my house or eating ramen every night if something went terribly wrong, after all, it was just me and my husband, we'd manage and get through it just fine. Now, with the kids and nice house and standard of living to maintain, I do get scared of messing something up and ruining my family's lifestyle.

On the other hand, if I could pretend for a while that I'd never been exposed to the idea of financial freedom or alternative means of retirement planning, then I would be able to start down this path 7 years in the future, when my children are older and less needy, and my family is more financially stable.

Being at this very spot in my financial life, with the piled up debt of student loans from our youth, bad credit card decisions of the carefree days after college, expenses of the early children years (daycare, diapers, new clothes for every season) and the nice house and decent cars of the middle aged lifestyle we are entering into makes for some rather high hurdles to lift myself over.

Similarly, with my children still being quite young, they require a lot of my time and attention at this early stage in their lives. Kindergarten has been especially rough on my oldest this year, and I feel that I have not been there enough for him during this turbulent time. I've noticed especially that most of the women that ARE in real estate investing do not have young children, and I believe there is a good reason for that. Even in this new age of parenting equality, women still usually have a tighter bond with their children than men and desire to be with them more often than not. Starting either before kids or later when they are older and more independent would certainly have made it easier for me to focus on what I am trying to do.

But this isn't just about me whining and lamenting about my life as I know it. My point is that even though things do not seem like they are the most optimal time for me, even though so many things make me sometimes wonder what in the world I am doing, I'm still out there trying to do it!

So what is your "such-and-such" excuse for this not being a good time in your life? What obstacles do you feel like are holding you back? No, don't tell me, I really don't care. It doesn't matter what excuse you use, there will never be a better time than now to get started on the path to your dreams. The past is already gone, and you can't be sure that tomorrow will be any better than today unless you DO something today.

I can't say I don't sometimes let life get in the way. Suze Orman even tells us "People first." But hey, if I can manage to not stray too far off track and keep pushing forward then I fully believe that anyone else can do the same. My progress may be slower than some others, but at least I am pointed in the right direction and know where I'm going.

Whine with me if you need to, but I'll only sympathise with you if you're working on your own path too. Otherwise, you just sound like my kids who whine about everything.



P.S. - If you haven't checked out our new magazine website, click the logo below!

Investor Cardinal Rule: SHOW UP!

Last night I went to my local REIA meeting as I do every month. This night they had a particularly big turn out for the particularly energetic national speaker. I saw people last night that I haven’t seen at meetings in a while and also met investors that I’ve never met before. Which led me to wonder, why in the world do I not see these people every month???????

When I started out I took the advice of all the books and Gurus that tell you “Join your local investor club, it’s a great resource for education and networking.” Um, yeah, duh… I joined 5 of them and still go to the big 3’s meetings nearly every month as well as some others where I can fit them in. I average attending four real estate investor meetings a month, which is pretty much one a week. And up until recently, I did this while working a full time job, working my real estate business and having family commitments including two kids, so I don’t want to hear that people don’t have the time to go to meetings. I even ended up running one of those meetings as president, which was an even greater time commitment.

So do people just not care enough to make the time and commitment to attend??? One person told me that the meetings are sometimes dull so he didn’t bother to go or even be a member any more. I seem to remember a lot of high school and college being quite dull, but I went anyway and ended up learning a thing or two, or at least making some friends to hang out with later. And that’s really what its all about for me. Sure, not every meeting is going to be relevant to what I’m doing and not every meeting will have as engaging of a speaker as last night’s did, some may be downright dull, but I‘ve got news for you: YOU STILL NEED TO GO!!!

Unless you found a magic crystal ball in your Grandma’s attic, you do not know what tidbit of information you might pick up that will help your business, or what new contact you might make that will turn things around or open you up to new deals. I actually met Robert Cass with Local Real Estate Deals Media at a previous REIA meeting and that has gotten me started on an entirely new and WAY more exciting path than I ever would have seen. Where would I be now if I had decided I was too tired or too busy to go to that meeting? A very different place that I wouldn’t like nearly as much and doesn’t have nearly as much potential, I’m sure. What other opportunities are out there that I won’t know about if I’m not in the right place at the right time?

Networking is huge, especially in real estate circles. Just look at the success of online networking sites and the enormous numbers of real estate related people on them. Real Estate investing is really more about people than about properties, and some of those important people are your fellow investors. Sure, plenty of investors are very successful without being members of groups, or maybe they were members back when they started out and just don’t think its worth their time anymore now that they are successful (and to those I ask why they feel they don’t need to give back some of the knowledge and experience to others that are now starting out just like they were). But don’t they ever wonder how much MORE successful they would be if they increased their network and did so regularly?

Find your local REIA or other investor group, join, go to meetings. Go to more than one if you can. Maybe its not even a fellow investor you meet, maybe its just a guy that does windows, or someone that has private money to lend, or the publisher of a national investor magazine. How do you know who it will be or how they can help you? The point is you have to obey one of the cardinal rules of successful business people: SHOW UP. And I mean literally!

When opportunity comes knocking...

This past Friday I found myself suddenly jobless. YIKES!!!! Granted, this is something I’ve been working towards anyway and was even planning on, but I don’t think you can ever be completely prepared for it until the reality strikes. So far it hasn’t completely “sunk in” that I have no set schedule to abide by, no boss looking over my shoulder to make sure my work is getting done, and most importantly, no pay check to count on every two weeks. I KNOW all of these things are what I longed for and are now the facts of my life, but I just can’t wrap my head around the full significance of them yet!

So what does it feel like exiting the normal work force, some of you may wonder…

Truthfully, it feels like a lead brick is resting in the bottom of my stomach 24/7! I’ve prepared, I have a Plan A and a Plan B, and even some ideas for other plans should those two fail, but planning alone can not ease the feeling in my gut. Oddly, this is almost the same experience I had when I was pregnant with my first child (and even my second, come to think of it). Not to loose my male audience, but its true! There are the same amounts of fear, excitement, dread, hope, and “what was I thinking???” moments as after we’d decided to bring a life into this world with no actual experience in doing so. We read books, attended classes, talked and listed to other people who had been there before us, and gathered advice from professionals until we had some level of confidence of our foundation and were ready for the leap of faith. Sound familiar?

I admit I have a parachute of sorts, I have some things going “on the side” of my real estate investing which will enable me to ease into my self-sufficient “jobless” status. Honestly, my real estate investing is no where near ready to support me on its own, but the Catch-22 of time and attention to real estate versus time and commitment to my job has been a major obstacle in being more successful in investing. I can get all the education and mentoring I need, but it does me no good without the time to implement the strategies. Now that the cycle is broken, I am excited to throw much more of my effort into real estate and see my success grow accordingly.

Just like when I was pregnant (sorry guys!), I know that I CAN DO THIS and do it well, and that the fear and doubt are minor in comparison to the rush of empowerment and excitement.

I am embracing this opportunity to strike out on my own and live my life as I wish to live it. I know the road ahead will be a difficult struggle, but it is one I believe I will vastly prefer over wasting 8 hours of every day to help someone ELSE live the life they wish to live. If I fail there will always be other jobs to turn back to, and if I must go back then I will do so without regret, but how else will I ever truly know the kind of success I might have if I never bother to try? The opportunity knocked and I gladly answered the door, ready and willing to follow it no matter what the path. Thank goodness I was ready for it when it did!!!

So tomorrow starts the first day of the rest of my life. I can’t wait to meet it, even if I do carry some extra weight for the moment. What’s a little lead in my stomach compared to the limitless opportunities that I’m about to be a part of? Sounds like I got the better end of that bargain, now if I can just find some cash flowing multi-family properties where the stakes are the same!!!