Yes, there will most likely be overlap with other blogs and with what experts, who are much more knowledgeable than me, write about. But while I can't hope to be more of an "expert" than those who are truly paving the way for us common folks, I'll try to combine the best of what I read, see, and hear and just maybe, at times, post some information that truly helps others in this field.
Just to give you a little information about my background, my formal education is as an engineer. I had already owned one rental house in my hometown for a number of years and always had a mild interest in real estate but never saw it as a way to make a living. I wasn't aware of any other way to do real estate except as a buy-and-hold landlord, which wasn't very appealing, so I started studying other ways to make a paycheck from real estate. I came across this strange concept called "wholesaling" and put a classified ad in the newspaper stating that, "We Buy Houses!", and I also started sending out direct mail to FSBO's (For Sale By Owners), FRBO's (For Rent By Owners), and preforeclosure leads.
From my marketing, specifically a bandit sign, I got a house lead that I was able to flip for about a third of my annual salary. This deal took me about 45 minutes of total work, including attending the closing to get my paycheck. After that, I almost immediately quit my job at the research lab where I was working and entered the real estate world full time. I've never regretted that decision and am having a blast as a full-time real estate entrepreneur. Of course, there continue to be hassles to deal with but this is a field where we determine our fates, not some boss who probably doesn't have our best interests in mind.
Anyway, as this blog matures and I learn more about creative real estate and business finance, I'll post what I learn so that someone might benefit.
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Wow- sounds like a great approach to make a little money; and for once from a regular guy- not some shister trying to take my money for nothing in return. I will be following this blog!! Thanks!
ReplyDeleteHey, I try to be the best shyster I can be!
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