Another brief post for today. I finally finished a book that I bought either last month or the month before, “How to invest in real estate” by Joshua Dorkin and Brandon Turner. The information I’ve come across makes me glad that I took the time to read through it. Even though, I’d already told me self that I’d go with investing fourplexes, it gives me confidence in knowing what other alternative niches are available, what several investing strategies can be used, and ways to find deals. It’s helped my affirm my ideal first real estate move will be to househack a fourplex. It’s also exciting because up until recently it had been awhile since I challenged myself to read any written material beyond a few pages, much less an actual book, and to do it more for gaining knowledge and not just entertainment. Before yesterday I had read the first 100 pages of this book over the span of several weeks but yesterday I buckled down and ready 30-50 pages and today I read another 100 pages, completely finishing the book in the process. On a Saturday! Right now I feel pretty energized. Before the end of the tomorrow I plan to order another book that I feel will helpful for my goals. Also, I will work on a writing a plan to find and buy my first rental property.
One more swing
This will be a brief post, just something to capture what my thoughts are right now. The whole coronavirus situation took out a lot of steam from me. Or to be more honest, I let it do that…I’m slowly starting build my the steam back up. Something that’s helped was a Youtube video I watched that explained a method of dropshipping using US-based suppliers on Aliexpress. I feel so stupid for not thinking to research that before letting myself get to discouraged. I could’ve made some headway on starting a dropshipping store by now. Thanks to that, it’s prompted me to want to look into how I can still make a deal in real estate in the current situation. The last week or so, I’ve worked a few days at home as part of my companies plan for social distancing and minimizing the spread of Coronavirus. Not surprisingly, my parents have also been working from home for the same reasons. The experience trying to work at home at the same time as them has made me realize that, although I love my parents to death, I can not stand to live with them anymore and want to move out as soon as I can. If I find success with dropshipping yet still need to commit long hours of work everyday I will be able to maintain focus as long as I stay where I’m at now. Maybe I won’t have a choice but to wait until the Coronavirus situation is under control but once it’s over I want to be in a position to go without delay…
Happy April Fools
It’s a new month and it is with great pleasure to announce that I have found success with dropshipping and bought a foruplex as my first rental property at a great price!
Psych, April fools!
I wish that I could proudly give more achievements since my last post but unfortunately that is not the case…I’ll admit first of all that I lacked the discipline to follow through on what I had planned. However in hindsight, it seems that not taking action turned out to be a good thing. Why?
Coronavirus.
During the duration of March, the disease which, at first, wasn’t even remotely on my radar had completely pulled the rug from beneath me. I started out believing that I had the leisure of pursuing my top two ventures at my own pace. Dropshipping and Real estate investing. Now the landscape is such that I struggle to find a foothold to even get started in either of them.
The impact of the coronavirus pandemic has shook the whole world. Many places, my city included, have taken action by ordering many businesses to restrict their hours of operation or close down completely until the virus stops spreading. This has caused many companies from different industries to lay off people and/or restrict hours to avoid loosing money. People in general are also being encouraged to stay indoors as much as possible in what’s termed “social distancing”.
The result that’s affected me is that now doesn’t appear to be the time to pursue dropshipping since not many people will be willing or able to buy things online outside of the essentials and delivery service may not be as efficient as before. And if I were to try any real estate investments, it’d be difficult to make any deals since any sellers or real estate agents I’d work with are unlikely to be available due to practicing social distancing.
The only venture that seems like it’d be a good idea to chase now would be stock investing since the market is down. However, I don’t feel educated enough yet to jump into it…for now anyway.