"Scared to Death"

Does anybody know anything about the Discount note market ?
I was told it was a good place to find deals, but I dont know where to find these ("Notes.")
Any comment ?

I aint scare! If i was to scare of anything is scare of failure. If i don't fail then i would never know what success is. So, in order for me to suceed in real estate, i have to learn how to first experience fail. I've failed in a lot of things in life, but scare of not doing any real estate deals at this life-time-opportunity it's failing itself!

Lloyd

Yes, I have it. We all have it. And in the words of a famous RE guru: "But I never stopped improving, moving forward and following my dreams. I trusted my gut instinct that I could live a phenomenal life. I acted, despite my fear. You can too."
"The truth is, everyone is afraid. If you just focus on what you're afraid of, that's what you will face. If you consistently focus on your dreams, you will succeed."
"...but here'a a phenomenal thing, every baby step that you take is a brave step. Because what happens is you are able to build reference points in your mind and in your heart and in your soul and in the fiber of who you are. And you're able to go! and you're able to go, 'man I did that! What's the next thing? And I did this, now what's the next thing? ....." You need to find your "why" such as doing it for your wife or your kids or both. "...I focussed on this, like fire burning inspiration and could get past the Fear. So it's OK to have Fear. But it's NOT OK to have Fear paralyze you. Find out what your "why" is and then focus on that constantly and then get into real estate ...." "...and the biggest thing that people are NOT going to tell me is the biggest thing that keeps them from doing it and that's Fear. It's OK to have it but it's not OK to let it hold you back. So how do you get past it? You focus on your inspiration."

That's a great post Michael, thanks for sharing that with us. By the way, I haven't seen you on in a while, hope things are going good for you!

Oh yeah. Well, yeah, things have been pretty interesting in many ways recently. For one, I've been focusing more on being active which I consider more important than posting on the website. You know, getting out there and going to REI meetings, driving neighborhoods, looking up addresses at the county court house with their metal detectors and all and reading books on RE, consulting with experienced RE investors, having my RE agent show me properties etc. As a matter a fact you are much more experienced than I am and I might even e-mail you a question or two regarding RE if you don't mind. As a matter of fact I believe I did that once or twice and your answers were prompt and thorough. I appreciate it.
Anyway that's primarily what's going on.
We've got to FIND the deals! Any suggestions?
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Michael B

I've never heard that before can you explain what you mean by temperment?

Sounds to me like you are doing everything you need to find the great deal! It does take alot of time and patience. I too work all angles everyday, and in a month of active searching have hopefully just found my next deal, but am not going to post till my contract is accepted. But amazingly it is difficult to find them - I wonder sometimes if there isnt alot of 'insider trading' going on with the best deals haha....just keep on keepin on and it you will find it!

Thanks a lot for your great words of encouragement. As much as I may be doing I believe it is NOT enough! But yes we need to keep on keeping on and focus on the effective things that will produce the gem properties and we will find them. Nothing worthwhile is easy. But I suppose the more experience we get the easier it becomes.

Thanks a lot for your comments. I'm off to the local pizzaria to hand out my business cards to the drivers which offers $500.00 if they refer a house to me.
Fantastic!! On your new deal!! Great job!! I'll be looking forward to reading about it when you post it.
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Michael B

I keep meaning to give my card to my mail woman and delivery men...they see it all! Glad you reminded me of that - I'm going to take care of that TODAY! Lots of offers besides mine in on the property I found..I knew that would happen cause its a steal. Now Ican only hope that mine is a strong offer and attracts the bank over the others......

I hope you win it. Good luck.
As for handing out cards to all the delivery people, I have to admit I was just reminded of that last night by a post by Carol Stinson. So she gets the credit for that.
Hey I used to live in Bridgewater, NJ near Bound Brook and Somerville as well as NYC. What city are you near?

If you did your homework and built rapport with the owner of the house that strengthens your offer substantially. (To me that's the most important part of this business)
I wish you the best of luck on getting it!

Elena - it is a bank owned property- so unfortunately it comes down to the best offer and not owner contact. But I just put another offer in on a seperate property - if I get either one of them I'll be really happy! They are true steals and dont need near the work my first house did!
Michael - I am in Middletown - an hour south of NYC right near the shore. Real estate prices have remained quite high - but all of a sudden the REOs are popping up every day and for really great deals!
I'll post in my investing journal when I get one sealed up.

Well, that sucks, I hate dealing with banks, they take forever!! Hey, that sounds great, less work for you is even better, so you can keep finding deals and making offers. By the way, are you using a realtor?
I wish you the best of luck on BOTH of them Laura. You're on your way to making your dreams come true so just keep on doing what you're doing and it won't be long.

Dealing with the banks takes 4EVA!!!!! and its frustrating. But they are the best deals popping up in my area right now. So I am making multiple offers and seeing which one comes through first. But in the meantime i still look everyday for the deals! Its addicting haha...
oh and yes - I have an awesome realtor who checks her 'hot sheets' every morning for me. This way I am one of the first to see.
Thanks for the support - you are always there for encouraging words and great advice for everyone!

What I love about this website is - aside from the great applicable information on the REI business - is the motivational information that is plentiful around here. this thread on being scared definitely applies for me as well (and I am a guy
It takes real guts investing in this economy, but what "most" people don't know is that this is perhaps the less "risky" time to invest in real estate if you play your cards right and your investing strategies are in line with the current business climate. Never will you ever find deals like these today with 20-30-40K in equity coming across your desk. This is the time to be scared but it is really the time to be ACTIVELY SCARED!!!
go out and make it happen. good things are going to come about.

Being scared is natural in this business, but don't let it paralyze you. NOW is the best time to invest. Look at CBR, he's seizing the market and on his way to makin millions. I'm scared when I make decisions that involve hundreds of thousands of dollars too, but I still do it. Sometimes I close my eyes and pray for the best and it ALWAYS works out!