Anyone who knows me or who has read my other blog before knows that I’ve been M.I.A. for some time now. I’ll get to why in a second but for now just know that I’m baaaaaaaaaaaaaaaaaack. 🙂
So I’ve been out of the real estate investing scene for a while…gosh it may have been a year?? Not too sure. Anyway, I’d like to share with you why and I hope that someone can take from it and learn from it and not let the same thing happen to them. For those that don’t know me, I’ve been investing in real estate since 1999. Not exactly a newbie, we’ll say.
I got all of my knowledge from forums like Creative Real Estate Online and Flipping Homes. I bought courses, spent time with folks in the biz (I spent a few days in Baltimore with Steve Cook back in the day…remember that Steve?) But the key finally with it all was that I TOOK action (eventually lol)
In 1999 I started investing in Mobile Homes via Lonnie Deals. In 2001 after an amazing talk from my step-father I started investing in single family homes. Then I think it was in 2007?? that I decided to do my first wholesale deal. Why it took me so long to do one is beyond me because it is by far the EASIEST way to make money in real estate, imho. (Plus, I had Steve Cook’s very first edition of his Wholesaling course foreverrrr and just never implemented it until 2007.)
Fast forward…..I was doing some wholesale deals here and there loving life and loving real estate then it happened. I got a house under contract that I couldn’t wholesale. I felt kinda obligated to help the sellers out of their bad situation because after all I told them I would help them, right? (And I think being a girl doesn’t help….we get more involved than we should at times.) Anyway, after talking to a few friends I finally REALLY looked at the numbers of the house and realized it wouldn’t make sense for even me to purchase it so I walked away from the house. After that I just spiraled downwards where real estate is concerned. I couldn’t deal with the failure of myself but more importantly of disappointing someone that I told I could help. I’m one of those people where I value my words and I mean what I say so to have it happen where I didn’t follow through on a promise really was a tough pill for me to swallow. I stopped the whole real estate thang completely (well I still had a rental tho) but as far as actively seeking out deals. I mean I’d talk to a seller here or there and look at the MLS every so often but I didn’t really ever commit to doing anything.
I talked to a few folks to try to get myself over this hump, if you will, and they all made sense. Thanks Steph and Sandy and we all knew the reason I stopped investing and we all knew that not being able to wholesale a deal has happened before to investors so it’s not that big of a deal but I just couldn’t get passed it. The mind is an amazingly powerful thing, ya know?
Now, I’m ready to rock and roll again. I’ve been involved in a lot lately, including some passive income streams, and I’ve has a lot of wonderful things happen over the past year but I miss real estate and I think I’ve got a handle on my mind. I think that’s enough for now, don’t you? You guys and gals know how I can ramble….I could go on for a million more words lol
Finally, I just wanted to welcome everyone back into my life….I’ve been keeping an eye on a couple of you throughout this whole time tho and I just want to give a HUGE shout out to Steph (TampaSteph) and tell her that I think she’s been doing a fantabulous job with her blog and I think it looks amazing. You go girl! Speaking of her….make sure you buy her ebook about flipping Reo’s…I’ve learned many a things from Steph and you’ll love the knowledge that she can share with you……check it out here:
Talk to ya’s soon,
P.S. Bare with me while I get this lil blog here cleaned up a bit. 😉