Last call for the no cost Wealth education Expo in Dedham March 26. Hope you can join me!
Last evening the Movers and Shakers:
If I didn’t cover the 11 reasons to attend that Friday meeting to your satisfaction, you can email me and I’ll be glad to review any of them:
We started with the Simple formula for Successful (profitable) Real Estate Investing then we analyzed a Deal in Peabody as far as we could go. Getting it under agreement. But Construction costs are still difficult for most investors, I suspect because they haven’t spent the time? In Peabody we even figured out why they had left carpet in a gutted kitchen. What “Sold-As-Is” and “No Inspection” means to us and what we can do about it. Also how we can Assign (let someone else buy our contract) even when it says “Not-Assignable”
but I’d like to elaborate on the question I posed to the group near the end.
Have you ever done something right the first time?
No one answered.
I used myself as the example. Some of my neighbors dig for shellfish on the beach at the end of street. When they’re digging and I pass by it was so easy for me to point out spots to dig and they’d pull up clams just below the surface. Seems easy enough. So I tried it before the Friday Mach 18th meeting. I got a late start because I received a call for big purchase mortgage. You know how “Time and Tide wait for no man!”? Well it didn’t and I could only dig for half an hour as the tide came in. 45 minutes and I still had no clams. One of my neighbors pointed to a spot where he said to dig but then he had his dogs dig the clams out (kind of the Ultimate insult). Of course I wrestled the dogs and got 4, someone sympathized with me and threw another in my bucket. Total yield 5 clams! Not exactly getting it right the first time.
I then left because I had an emergency to take care of ( a Tenant had Cash for me) rest of that story another time;-)
Today’s story and the moral in the MassRealEstate.net/blog/
I mentioned my previous days failure to a friend at Karate club I went to in Newton today. He asked what kind of dogs the neighbor had. I told him they were Rhodesian Ridgebacks. His jaw dropped and Paul asked Do you know what they’re trained for? Clams? No they use them to hunt lions because they’re fearless and very tough! Well Paul you ever try to get between me and a Tenant’s rent? Or me and a clam? You’d need the lion to get it! (the check that is) Point is, it’s hard earned money and I take it very seriously as a Real Estate Landlord business.
Tonight I started at 5 pm, low tide was 5:31 and sunset was 6:47 Incidentally Shellfish can only be dug in these Marblehead beds between Sunrise and Sunset and it only makes sense to dig at low tide 30 minutes each way. I had reflected on what I thought was wrong. Experienced knowledge, Timing, Not probing the dents in the sand and Only digging where water squirted up. Armed with this knowledge I set out and several of my successful neighbors had suggestions. However most of these suggestions had to do with how to clean the clams and cook them or sauté them with olive oil and garlic and linguini and chowder and stuffed and … (you get the idea?) Anyway I easily filled my weekly limit of a bushel (two 5 gallon buckets) in just over 3.5 hours. Most of the other 25 or so folks also had their quota in the same 3.5 hours. Success (my 2nd time)
Moral – We very seldom try something new and succeed at it the first time (I see folks even doing something the 20th time with no success and what’s that definition of Insanity “Doing something the same way and expecting different results). and the odds of us succeeding are even worse if we’re not armed with knowledge from someone who’s in this field and is more successful than us in this field! So try to take advantage of the Successful people available. You’re welcome to send me your Plan for success and I’ll gladly review it with you. [email protected] or call my cell 781-248-6907 See you soon! Or Post here on this blog thang?