OfflineI got a private message tonight from a newbie that is discouraged because things are going wrong so I thought I would write a post of my early days. Sometimes it helps people when see they are not the only one having a hard time getting started.
In the begining...I was living in metro Detroit when I first got started in real estate investing. This was the fall of 2005. Things were on a downward trend in Michigan and I decided it wasn't the best place for me to get started. I thought "if I buy now, the prices might go way down and ruin my investment". So I decided to invest in the Quad Cities. What a great idea that was since it was only 450 miles away! So I would work till 5:00 pm on friday and then make the 7 hour trip one way to the Quad Cities. Do the math-I could make it in 7 hours if I didn't stop for a bathroom break, filled my car with gas just once, didn't hit traffic jams, road construction, or bad weather. Guess what-I always hit traffic jams, road construction, and bad weather. I was always tired and falling asleep at the wheel. There were times when there were hundreds of cars in the ditches and I shouldn't have been traveling. But when I set my goal in the beginning to leave my job in exactly 3 years (I hit my goal 3 days early) I didn't figure I would take a few weekends off because I was too tired, or because there was a severe snow advisory, or beacause there were tornado warnings and torrential down pours and flooding. Many, many weekends after all that traffic and looking at 20-30 houses per weekend and everything I had to endure I would come up empty handed. That happened all the time. I was new and I didn't know anything and I was scared a lot. But I didn't quit. Even when I should have. No- you see- I set the GOAL. The GOAL was to leave my job in 3 years. The GOAL wasn't-"Well I want to leave my job if everything works out" The GOAL was "I am leaving my freakin' job in 3 years-period!" I made that trip every single weekend for 3 years-except for 6 weekends. I took 2 weekends off per year. It didn't matter if I was sick, broke, hurt or dead-I was making that trip! I didn't know what I was doing but I knew one thing for sure-I'M DOING IT! I missed family, I missed friends, I missed entertainment, I missed dating, I missed get togethers, I missed meals, I missed sleep, I missed having fun, I missed TV and radio, I missed riding my motorcycle, I missed fishing, I missed a lot-BUT I DIDN'T MISS MY GOAL!
GET IT DONE!!!
You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!
Thank you Matt for the hard words I find myself in the first category "in the process" but it seams that in the process never has enought time or its never just right. I have let too many opportunities pass I saw a broken house with cluter car, boat and trash pile to the roof but did i contact the owner? NO, i let it be just one more thing in my to do list and days pass and a results person got this deal. Its a 2bed/1bath they payed $16k when comps run about $50-70 in my area. I felt sick to my stomach but it was my fault for not acting on the spot. Its like you said REI its not the project I'm working on I'm the project! I have to drill this in my head. I'm the bigest obticle to my process. Like Luisa i have the time to dedicate i just get lost in thre process of crossing my t's and i's. Thank you for giving us a piece of you mind and leting us see what goes in there.
Stop thinking just DO IT!
Hello Barbara,
I laughed reading your post for two reasons : Reason # 1. You put words together that says what everyone stuck in their J.O.B.( Just Over Broke )wants to say but having a hard time saying.
Reason # 2. I read me ! It applies to me as well. I am 39 years old, invested in real estate in 2005, bought 4 properties one time, did not pay close attention to financing them and got sucked in the central ARM ( Adjustable Rate Mortgage ).I lost two of them and my shirt. Although I still have the other two, I lost my credit and substantial savings I put down at the time I bought them. With unemployment highest here in Las Vegas, it is tough to get a job. My wife, already tired of carrying all the weight wants me to go back to school to be a Nurse. To do what ? Work for nothing ! I just decided to call the shot that I will do real estate investing full-time from ground zero. Here is why : I realized that being a Nurse at best will not do me anything spectacular . I have to get up, deal with 8-16 hours of work daily, bureaucracy inside hospitals and probably die early too of unhappiness!
Here is how I look at life. If Matt was able to do it, anybody can do it if they do exactly or even more as Matt did and do.
My philosophies : What I don't have, somebody else does. If I don't have money and credit right now, somebody else does. I just have to find that somebody to help me out in exchange for my entrepreneurial spirit.
Back doors closed. Moving forward is the only way to go. Failure is not an option.
Let's work some miracles for the rest of the world to see. And with so many great minds, tools, and resources here at DG family, what is not possible ?
Thank you Matt for starting the thread, you are awesome !
All the best,
Walter
Las Vegas, Nevada
--------------------------
"Failure is simply not trying."
that there is no goal in life that can't be reached. ANYONE can make the decision to become a champion. Lack of knowledge isn't an excuse because there is more knowledge available right now then there has ever been. Lack of time isn't an excuse because everyone has the exact same amount, regardless if you think your "busy" you're not! The question is "what are you busy about?" The fact is this: If you want something bad enough you will find the time. Lack of money isn't an excuse because real estate doesn't require your own money or credit, that has been proven time and time again.
There is only one thing holding you back.......YOU! Get over it, and get it done!!!
You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!
Matt, you always hit the nail on the head. We know we can do it, because you did. There are no excuses for us anymore. We just have to do it. God Bless
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
Matt,
Thank you for sharing your experiences with us. I have been thinking about real estate for the five years, but really did not how to it. It's now I finally decide to put fear behind to start a new life. I know it's not going to be as easy due our current state. But I am tired of living pay check to pay check. I am already a homeowner for three years. My husband and I are up the neck, but i really cannot rest with giving this opportunity a try. Based on my experiences every great accomplishment require some sort of sacrifice great or small. and this one can change our story, our loved ones and generation to come. It worth it.
Nathalie
Matt thank you for that bit of encouragement, I needed that. Only thing is I wish I would have read it earlier. But you know what earlier or latter I still got the point! And I thank you for that. I hadn't set a goal like that before now, I did exactly what you said in your post, "I'll quit my job if things go right and this works." I know now that that's not good enough. What is good enough is just what you said " GET IT DONE".
lbrown
Hello Mat, what a story. Yes, i believe when you put your mind to something it will happen. My life was not half has bad as yours but I was horrible in school. Could not read or write very well. I still can't spell so forgive me if some words are miss spelled. I wanted to be rich and live at the beach. I did not know how I was going to do it but I just was going to try everything. Everybody told me I was crazy even my family. So in 1986 I went to a trade school to work on cars. I graduated in 1988 and started working at Sunset Auto Body. The first two year weren't bad but the next eight where unbearable. Everyday I would go to the park and have lunch. I would read book after book trying to figure out how Im going to get out of this job.
I became a dad in 1990 and bought a house with my girlfriend which I thought was a good idea at the time. We broke up in 1995 and I had to do short sale because the housing market in Ca. was bad. Thats the last bad market we had here in Ca. So I thought real estate was not for me even though my Grand parents had lots of rentals.
In 1998 I started Corrick Enviro Services. In the late nineties recycling business where getting big. So one day at the body shop I was looking around trying to figure out what I could recycle. Well I figured it out. I started the company on my lunch hours one hour a day. I would go to all the local body shops and pick up all of the recyclables paint cans. It took a long time before I really made money but I quick my job in 1997. Today I have about four hundred body shops for my customers.
Mat, in 2003 I told my self that its time to try real estate again. So I purchased the house that I grew up in for $275,000 and sold it in July of 2005 for $640,000...and guess what I did. I bought my house at the beach just like I said. At the time I new we where at the top of the market. Even though everybody said I was crazy again for paying $1,000,000 I new that the beach was the only area that would hold. Once again I was right. I think its worth about 1,275.000 now. Mat, I hope you don't think I'm bragging. Just wanted to show you what I've done in the past with real estate.
So Mat, I've been reading Dean's books and trying to figure out what to do know. Can you please tell me what kind of deals you are doing at the moment. I would really appreciate it. Mat, thanks for the story. Your great!!!!!
Rick
Bump this this one as well! It's always a good read when Matt's name is on it!
You gain strength, courage, and confidence by every experience in which you stop and look fear in the face. Do things you think you cannot do. Tough times never last, but tough people do.
See Where The Journey Never Ends At: http://www.deangraziosi.com/real-estate-forums/investing-journals/69250/...
Chase Brooks
www.brooks-investments.com
I really enjoyed reading your post here, it really influences on to just keep on trying to make things happen. I have been at this two years now, not a deal closed, made many calls, all offers made were turned downed, fsbo are few and rare, the ones that are there want their asking price on their properties and are in no hurry to sell until they get this price. I have posted flyers in lots of places, handed out no telling how many business cards in the area, then to hear my wife every day dear you have been doing this so long when is something finally going to happen, the market in this area is very tough as well, nobody interested in lease option, the ones are selling are wanting their asking price and nothing else, cash at closing or money on the table, been working on rent ads and waiting to see how this works around here, then after this what else can one do, I tried in the dallas metro where I have two buyers that want only properties that are not on the mls and have to be under contract for them to consider looking at. I do not mind my job as I basically work alone all day as a truck driver, my wife hates her job in production is hard work and would really love for her to be able to quit but right now the way things in real estate are going here in the area I see no luck in her quitting her job.
shawn
resurrecting this post. I've been re-reading through a lot of Matt's old post today. Today I needed some 'wind' beneath my wings and I always get it and the gut check from his posts. In addition to the first, you have to read this in it's entirety. In #20, #22, #27, & #33 I found my bandaids for my boo-boos.
It would be a tragedy not to resurface some of these old threads.
Encourage all to revisit some of the top students post. It's their journey and struggles 'live' in their days. Even though the dates have changed the struggles haven't. We may no be able to have one-on-one or instant access to the live person; we can have the next best thing, their journals and their post.
Jen
I just read your thread up to your "My younger years...." post. You showed them, huh?? How very inspiring! I just wanted to tell you that before I finished reading the rest of the thread. Thanks for all your posts on here.
"Persistence Pays, Procrastination Delays!" - smurfy
"I can do ALL things through Christ who strengthens me." - Philippians 4:13
"He will keep in perfect peace whose mind is stayed on thee" Isaiah 26:3
"Those who wait on the LORD Shall renew their strength; they shall mount up with wings like eagles, they shall run and not be weary, they shall walk and not faint." Isaiah 40:31
View my journal here: http://www.deangraziosi.com/real-estate-forums/investing-journals/59850/...
Has to be brought back up! Very powerful thread!
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"In order for me to think outside the box, that would require me to acknowledge that the box actually exists. In my world, there is no box."
~Matt Larson~
Great thread indeed. I didnt know that about Matt L. I just knew the story about him working at a dead end job. The guy really struggled financially in the beginning, but not anymore.
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of perseverance, commitment, the importance of goal setting, and drive!
This is awesome, what a motivating story, thanks for bringing it back up.
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Remember, there are 2 types of people.
1. In the process people
2. Results people
In the process people make sure they create a list of things that need to get done, in the proper order, so they can achieve their goals. All the lights need to be green before starting the trip. Plus, as long as they "keep busy" that is getting them closer to the goals. And ya know, eventually if they do the right things long enough good things will happen and their goals will be reached. In the process people think like this: Mike hears about a good deal a few states away that he needs to get to it right away otherwise it will be snapped up by someone else. He goes outside to get in his car and drive there when he realizes it is snowing. He turns on his radio and sure enough their are warnings out that it isn't safe to drive. He parks the car and thinks "ya know, this seems like a good deal, but it is much too dangerous to drive that far and look at it, plus I need to do more research on it just to make sure the numbers work. I will keep busy during this storm checking the numbers and when the weather breaks and the coast is clear then I will go take a look at it. Mike never gets the deals because Matt gets their first. He can't figure out why Matt is so lucky all the time. Mike thinks "I am doing everything right, working hard, but I never catch a lucky break. Real estate just doesn't work.
Results people don't really care about the process that much. They don't cross all of their T'S and dot their i's before getting started. If they get knocked off course they just build a new path. They don't have a set routine. They just see the finish line and nothing else. If their are hurdles or obstacles in their way the just jump over them and don't look back. For example, results people act like this: Matt had to go across 3 states to get to a house he heard was a good deal. He had to get their today because this one wouldn't last. When he went outside he noticed that it was snowing and their were warnings not to drive because it was dangerous. He knew not getting their would be even more dangerous to his financial future, plus he figured if his car got stuck in the snow on the way he would just walk the rest of the way or hitch hike. He needed that deal, he was going to get that deal or die trying. He really didn't think the distance or the snow could stop him from reaching his goal anyway. He got there, got the deal, and cashed a big check.
I hope this explains how I think. I didn't even know another way of thinking existed untill I started coaching people. People stop themselves from achieiving greatness. Get it done!
Reynolds & Haidee
and the condo in trump towers chicago, ill thx so much matt and dean