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The First Hurdle in Real Estate Investing
| | Tuesday, December 02, 2003 @ 08:00 AM EST
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Contributed by: Nick Axtell
Nick Axtell Properties
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I am not a real estate guru or a seasoned investor, but I just want to maybe help one person out there who is just waiting for their first perfect property to start their investing career. I, like so many others, ordered Carlton Sheets' course looking to make millions and make it quick. But, like so many others, I read it and studied it and then put in in the closet to collect dust because I just couldn't find the right property to start. That was two years ago and until two months ago I was in the same situation in
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life I was when I ordered it. What stopped me two years ago, FEAR, and FEAR alone. I still don't know if I was afraid to fail or afraid to succeed. It wasn't until two months ago that I came to realize that I was in the situation in life because of me and me alone. Unless you're lucky, noone is going to take you by the hand and do your first deal for you and give you the profits just to prove to you that this stuff works. Believe me, I am not harping on anyone who hasn't found their first deal because I sat idle expecting something to happen without changing myself or my outlook on life. I think I have been clinicly insane for the past two years because the definition of insanity is "doing the same thing over and over, but expecting different results." I cannot emphasize this enough. YOU CAN DO IT! Once I had made up my mind that I was going to face my fears and dive in the pool, I found that everything came alot easier than I expected. I bought my first rehab with my brother-in-law last month and I am closing on another one (myself) at the end of November. Best part about it, I haven't paid one dime for any of it because I met with a commercial banker that was so moved by my persistance to make this dream a reality that not only did he consider me a good risk, he is getting back into REI himself.
Granted, I have not sold the rehab for a profit yet but even if I don't make a dime off of this first one, all of the work was well worth the weight that has been lifted off my shoulders. I have read so many articles, forums, and success stories that would make your head spin, and I could hold up my end of a REI conversation with an experiened invester up until it was time to discuss our past deals. I have limited investing history but I could have gone the next ten years reading and studing and becoming knowledgeable about all aspects of REI but I believe you need to focus on one aspect to start and go out and DO IT. I will have years and years to incorporate "subject to", short sales, lease options, and every other concept, but I didn't need to be a master at everything to buy a rehab. I can't guarantee I will become extremely wealthy anytime soon, but now I am taking the calculated risks to find out. Like I said at the beginning of the story, if I can help just one person jump that first hurdle, then writing this story was well worth it. For the young guys out there, I am 23 years old. People will listen to you and believe in you but you have to believe in yourself first!
Best of Luck
Nick
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dime make estate worth with expecting many same everything past been don't could ordered months first well going hurdle life find afraid then this need found others, help situation property like real until start came because have believe alone. investing about years read person deal will rehab just
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