Real estate only for the rich? Comments [rehab/flip]

Hardly. Anyone can get involve with real estate. Most people I talk to who are now investors obviously had to start somewhere. Most used wholesaling (assignment of contract), partnerships, or hard money. If you don't have any resources, you can find them somewhere, assemble them, and make a project happen. All it takes is some imagination, a little knowledge, and some good old fashioned hard work. It is the same now as it was 5 years ago, 10 years ago, and 50 years ago. People like to complain that "It's harder for me now with the current economic circumstances." That's a cop out, and an excuse. Don't get caught up in it.

Tell your third party person you have a big family and some have money and like me I have none BUT I am getting a hard money loan for my first deal. I'm not rich but I'm in real estate and learn and having fun. I we post the day my deal is done. Dean tell us don't let someone turn you around or talk you out of your dream. Get that first deal and see that person change. Good Luck

Just keep looking for someone else. One day you will be were you want to be, And he will b setting their scratching his hear wondering were he went WRONG.

Randy

My plan is to prove those kind of comments as wrong! I just had my job of 25 years go by the wayside last Friday. Although I have a 401k, I do not have any cash to speak of because of overspend in our lifestyle. I have six months of income via severance... but we need that money to live on... SO, this should be interesting!!!

Roger

I am pretty new at this but have learned tons over the last month. I cant tell you hows many times you are going to hear this nonsense.

As someone stated above it is just a total cop out. I've heard it from successful investors here in town, bankers, real estate agents, etc, etc. The reason is that all of these people are lazy. Of course they want someone with deep pockets and very little common sense. If everyone involved in a deal just had money to burn, none of these folks I just mentioned above would have to anything to make money on transactions.

Keep you chin up and be rid of these negative folks immediately. Find investors, real estate agents, bankers, etc, that are as excited as you are. They are out there, but like everything else in this world you have to turn over all the stones until you find the right one.

I'm finding out that this business is more just a people business than it is real estate.

When you're trying to better yourself people are always going to tell you things to persuade you otherwise. Move on and let them stay miserable.

Find another investor

Only 3 types of people will tell you things like, "REI is only for the rich," "you can't do that," "assigning contracts is illegal," and other assorted ignorant garbage: 1) the Lazy, 2) the Lying, and 3) the People who know NOTHING about RE. Since the folks who "informed" you that only wealthy people can invest in RE work with RE all the time, they can't be in the 3rd group. They want a "big fish" with what I call "TMMS" ("Too Much Money Syndrome"): someone who will pay retail plus for a new house, with no hesitation or (heaven forbid!) questions. A lot of those negative toward REI (agents and brokers are notorious for this) sit around all day waiting for someone ELSE to do something so THEY can make money off THEM. For many of them, their expertise ends at the point they have to do something creative, different, or difficult. Don't even give these people the time of day. If you have to talk to them, ask them this, "do you know someone I could talk to who doesn't share your OPINION?" and then walk away. Not every house is a deal, not every person is a resource. The Deal of the Decade in REI comes along about once a week. Once you have the right team in place, all these lazy, ignorant, non-believers are gonna try to infiltrate your inner circle to try to make money off your success. Then, you'll have something negative to worry about. Until then, just charge forward and find your people!

Hello Family, just want to say real estate is for the rich, the poor and anyone in between. I let a few people talk me out of my dreams years ago and here I sit years later trying to realize those same dreams once again. Whatever you do don't listen to those nay-sayers they will stop you every time. Just a thought but, your friend maybe investing on the side and not letting you know about it. Sometimes people don't want to see you happy or living a good life so they'll tell you negative things so you won't move forward to accomplish that wonderful lifestyle you deserve. My suggestion to you, find a happy place in your world and strive to make it excellent. What works for me is to share my goals and dreams with like minded people or keep them to myself until they have been reached. Once your goals have been reached always remember the proof is in the pudding. I was once told: (SHOW AND TELL IS A LOT MORE EFFECTIVE THEN TELL NOW SHOW) hope that makes sense. People are more likely to believe what they see then what they hear. So a word of advise to you stop telling and start showing. Anyhow keep striving for excellence, and remember DON'T FOLLOW YOUR DREAMS, CHASE THEM!!!

Tricia
Words of Wisdom: Never give up keep striving to get up! A family that prays together stays together!

Go on to find another investor. That type of thinking from this guy will only drag you down....Jan

Wow! I guess anyone who is not "rich" should just pack up and go home. ha ha.
Not quite. Anyone can make money with real estate. Having money, or not having any money doesn't make a difference.
With strategies like the following, you can make money using "O"ther "P"eoples "M"oney to make money using real estate as the tool.
- Bird Dogging
- Assignments of Contracts
- Double Closings (www.insiderscash.com)
- Sandwich Lease Options.
If you focus your time and effort on finding and qualifing buyers, you won't have a problem finding properties that match the criteria of the buyers that you are working with.
The key to making money using OPM is to find the buyers first. Do that and you are "Made in the Shade"
Happy Investing!

I move onward by reading different post here, learning what others do to prove this statement WRONG, everyday.Deals are being done everyday and Not by Rich people. But by people like you and I. I Look and listen to others. Like....Knowledge plus action equals results...Dean Graziosi. and,......Believe and Achieve.....Indiana Joe. Don't listen to , Only the Rich,....YOU CAN DO IT!!!!!!!!!!

Bruce......

http://BruceThomas.bookmentioned.com

prove him wrong. let him scratch his head. as JUST PLAIN E would say kick'em in the shin and run... !!!!!!!!!!
he will just bring you down.... run run dj run

Remember the old story of why you do not need to put a lid on a bucket of crabs? Well as the story goes, each time one of the crabs tries to climb out of the bucket one or more of the other crabs will grab them and pull them back into the bucket. The parable explains that others tend to resent us when we accomplish things or even try new things. Those who try to rise above the normal are laughed at or worse.

Keep going and make every attempt to avoid negative input. Relatives and friends are usually the worst. They have studies that have shown that we earn an average of the five people we associate with most. So, associate with winners and you will accomplish far more than if you never break out of you group. Good Luck.

To make money???

To provide for yourself and/or your family???

Ultimately to be in the best possible position you can be.

If anyone feels differently and doesn't see things your way, move away from them; they're not worth your time.

I agree with the others, move on and find someone else as you will feed on his negativity. Many people are investing right here on this site that are not rich. Best Wishes. Tammy

That's just another dream killer spouting off... homes have not been this affordable in 50 years! Mortgage rates are at historical lows. It is unlikely that we, in our lifetimes, will ever see opportunities like this again!

This guy does not know his facts.