Hello Investors!
After my other post, AroundTheWorld inspired me to share my thoughts with the forum. I'll try to use bullet points etc. to keep the length down.
-To date I've landed one preforeclosure property in which I currently live in
-My REI plan as been to land more preforeclosure/foreclosure properties and wholesale them in order to build some capital
-After saving enough money, venture into multiunits where monthly cashflow is enough to make a comfortable living
-My computer background has helped decrease the amount of manual labor involved.
-My "system" has been constantly evolving and continues to better as weeks progress. It looks very promising.
Here's the dilemna:
I've heard many gurus say "focus on one area and become an expert in this area". While I've made preforeclosures my main scope, this is not my intended future scope (multi-units are). Now while I've been mostly dedicated to preforeclosures, I'll hear a seminar which talks about tax certificates for example. This then gets me thinking of how I can pursue this line of investing as well.
It seems the constant battle I encounter is trying to specialize in one area, but then trying to do all of them. I like having many tools in the arsenal, but having too broad a range tends to make me lose focus and become scattered. To add insult to injury, it feels that I'm not sure what area I would enjoy most, hence why I'm all over the place.
Lastly, there was a post made on the RDPD site which really stirred things up. This post mentioned a way in which the poster contacted a few reputable commercial investors and worked for free to gain the experience. This caught my interest alot. Currently I'm learning through hard knocks and posting on forums, but I feel having a mentor to keep me on the right track and let me bump along could be just what I need.
Well there you have it.
I hope this doesn't come across as a rant. I'm very motivated and dedicated in REI. Some days I feel my focus is 100% set, and others I question if it is the right path. Hopefully some of the experienced investors on this board can share some advice so that I can get things a little more organized.
Thanks,
Ryan
After my other post, AroundTheWorld inspired me to share my thoughts with the forum. I'll try to use bullet points etc. to keep the length down.
-To date I've landed one preforeclosure property in which I currently live in
-My REI plan as been to land more preforeclosure/foreclosure properties and wholesale them in order to build some capital
-After saving enough money, venture into multiunits where monthly cashflow is enough to make a comfortable living
-My computer background has helped decrease the amount of manual labor involved.
-My "system" has been constantly evolving and continues to better as weeks progress. It looks very promising.
Here's the dilemna:
I've heard many gurus say "focus on one area and become an expert in this area". While I've made preforeclosures my main scope, this is not my intended future scope (multi-units are). Now while I've been mostly dedicated to preforeclosures, I'll hear a seminar which talks about tax certificates for example. This then gets me thinking of how I can pursue this line of investing as well.
It seems the constant battle I encounter is trying to specialize in one area, but then trying to do all of them. I like having many tools in the arsenal, but having too broad a range tends to make me lose focus and become scattered. To add insult to injury, it feels that I'm not sure what area I would enjoy most, hence why I'm all over the place.
Lastly, there was a post made on the RDPD site which really stirred things up. This post mentioned a way in which the poster contacted a few reputable commercial investors and worked for free to gain the experience. This caught my interest alot. Currently I'm learning through hard knocks and posting on forums, but I feel having a mentor to keep me on the right track and let me bump along could be just what I need.
Well there you have it.
I hope this doesn't come across as a rant. I'm very motivated and dedicated in REI. Some days I feel my focus is 100% set, and others I question if it is the right path. Hopefully some of the experienced investors on this board can share some advice so that I can get things a little more organized.
Thanks,
Ryan
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