Shoestring to Millions

An Introduction: A narrative about the trials and tribulations when investing in Real Estate

Posted on: June 14, 2009

The following is a story-series blog, that examines the experiences of one character, named Mark, and his trials and tribulations while investing the real estate game. This blog will tell Mark’s story and the at same time give you the education you need to succeed in your own real estate ventures. This blog will help you understand the entire gamete of real estate investing from what it takes to be in the real estate game to the different methods buying, rehabbing, renting, analyzing and selling properties for profit.

Mark’s Bio

Meet Mark. Mark is 32 years old, has about 8 years of corporate IT experience absolutely (positively) hates his job. His has a four-year degree from a state school, is a computer programmer at a major corporate firm and pulling nearly $65,000 a year. He is currently unmarried and has no kids and he has recently bought his first house.  During the process of buying his first home, Mark began to take an interest in real estate and has always had a quiet curiosity about what it takes to be a real estate investor.

A typical day in the life of Mark

Mark starts off the like the millions of other wannabe real estate investors by watching late night television and informercials of real estate guru’s professing that you can buy properties with no money down and that you can be rich just like them in as little as 5 hours a week.  Yea right.

Sick and tired of his 9-5 caged lifestyle, and years yearns to venture on his own and pursue the great American Dream of Joe Shmo turned Millionaire.

::BUZZ…BUZZ..BUZZ::. 6am.

Mark opens his eyes and groans, “here comes another day…”. He rustles out of bed and proceeds with his morning routine. A shower, shave, and a dress shirt later…Mark is ready to go to work.

On the train, he absorbs books about ditching the 9-to-5 and the insider tips about how to become a real estate investor. At work, all Mark can think about it is the moment he can leave…and this is when realizes he needs to make a change.

He pops open his personal email, and sitting in his inbox, its staring right at him: Carleton Sheets: Real Estate Investor Guru…free 30 day trial! Mark puts in a RUSH order and is eager to begin his journey.

The next evening, he sees a brown box on his front steps and like a kid on Christmas day he rips into the packaging before he can even step through his front door. Inside there are 3 books, CD’s and few extra goodies sent care of the Carleton Sheet company. He begins immediately, “Chapter 1…Getting Started.” Mark reads the first chapter as if the gold were dripping from the pages. He feels empowered. He feels he can change his life.

But Mark like the millions of other wannabe real estate investors and falls into the same pattern called “home study addiction” whereby they order the material but either never read the material or never implement what they have learned.

Sadly, after reading the first chapter in a hurry, the course sits on Mark’s dining room table and collects dust as he gets pulled further into his lifestyle of 9-5ing and relaxing with his family and friends.

So the question arises does Mark have what it takes to succeed in being a real estate investor? What are the characteristics of an individual who wants to a real estate investor?

TIP: Characteristics of a real estate investor:

  • Relentless Attitude
  • Facing Problems head on
  • Drive to Succeed
  • Courage of the unknown
  • Perseverance and Discipline
  • Desire to constantly be learning

Ideal Profile of a Real Estate Investor:

  • The best description I can provide for the ideal investor it is someone who is conscious of his or her responsibilities and duties for becoming a real estate investor and commits himself to the pursuit of fulfilling those duties. He or she has the drive to achieve them and has the courage to accept failure when it happens…and it WILL happen…numerous times before success. The right attitude coupled with a well laid out investment strategy the keys to transforming ordinary Mark to a million-dollar investor

Read on and see if Mark has what it takes to become a real estate investor…

_________________________________________

MARKS NET WORTH as of June 14th, 2009:  $75,000

Equity in home: $60,000

Savings: $5,000

401K: $10,000

Written by Ankit Duggal

Investment Director: www.rernj.com

RER is a boutique real estate investment company based in Clifton, NJ

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1 Response to "An Introduction: A narrative about the trials and tribulations when investing in Real Estate"

Hey thanks a lot for posing this topic.
I was preparing a paper presentation about this topic and i got many points about a real estate investor.
Idaho Real Estate

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  • krishna: Hey thanks a lot for posing this topic. I was preparing a paper presentation about this topic and i got many points about a real estate investor.

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