The Learning Process Begins

The most valuable lesson we had to learn is exactly how well detailed your plan has to be. The information that we were given led us to believe that we would be doing real estate deals using cash reserves from credit cards that we would have attained under our corporation. The fact that the credits for the corp was never up to par to receive those cards was a harsh blessing because at this point, we knew nothing about the process of purchasing property. We were also unfimiliar with the business and public perception of real estate investors. Our first look into perception would come from two counselors from SCORE. I had previously taken a course with score on planning for a new business, as a requirement to be seen by a SCORE counselor in a one-on-one session. Believing that real estate investing was just like any other business (i.e. brick and motar), it started with a business plan that would be used for securing start up funds. After taking the class in Springfield, and after the move ack to the Chicago area, our first move was to talk to the conselors at the SCORE office downtown. That talk was more of a soclding, non the less, as our ideas were shoved right out the window 9 floors up. In hidsight of those ideas, and that meeting, this would be the introduction to using proven methods to become successful in real estate. Also, to have a more drawn out plan for business. Our punishments were to take jobs at a local nursing home and keep them util we attained the knowledge we needed to survive and succeed in business.