Another Week Flies By

And here I am still here, still looking for work, still not finding anything. 😦

I did get 3 days of work in Houston last week and I’ll have one more day up there this week. Every little bit helps. It’s just a hard let down, I’m working for 1/10th the day rate I used to get and only working about 1/10th the amount of time too. 😦

Thank goodness I have my real estate investments to fall back on! I’ve gone through almost all of my savings now. The rent I get from those properties is pretty much the only income I’ve had for the past 17 months. I haven’t been able to use much of that money myself either, most of it goes to pay expenses. I’m just thankful they’re not still costing me money.

I did go to a real estate investment seminar last Friday. I had hopes it would be a way I could work my way out of this mess. A way I could earn a living without having to wait for the price of oil to go back up high enough to where they’ll start drilling offshore again.

Sad to say, the program was not at all like what they sold us on at the seminar! Not even close! I was tempted to buy the ‘tax lien investor’ program. I was already buying properties and could have ‘flipped’ them if I wanted to, but I prefer keeping them for rentals. So I wasn’t really interested in their property flipping program.

I thought the tax lien program might work for me. I was already familiar with how they work. Basically, you pay the taxes owed to the county in return for a lien on the property. The property owner has a certain amount of time to pay up. When the time runs out and they don’t, you can claim the property. In the meantime, you collect a high interest rate from the time you pay the county for the lien. Whatever happens, you make money- IF you’ve done your due diligence and bid on a good property!

I’ve gone to a couple of auctions locally. A friend has invested in a few of them and he explained it all to me a few years ago. The thing that convinced me to buy their program was that they said they would do all the research. They would take care of the ‘due diligence’.

Nope. Turns out that’s not at all what they do.

Turns out, they only deal with properties in Florida (even after I- and others- asked them specifically where the properties were located and was told “all over the US, Canada, the Caribbean and the US Pacific Islands including Guam). I suppose only investing in Florida is fine, IF you only want to invest for the interest. Even so, I would still be concerned about the necessary research. That all takes quite a bit of time, especially if it’s not local.

Yes, you can make a lot of money just investing for the interest (never for the property itself), IF you have a lot to invest already. I mean, how much is it really going to help to make 20% interest if you only have $100 to invest? You CAN make a lot of money if you actually get that property behind the lien. That is what I was interested in doing, but turns out they had nothing at all to offer for help on that.

So, I called and asked for a refund. They said they would cancel the credit card charges and I would have to return their books. I haven’t made it to the post office yet but figure i’ll be out at least $20 on postage. Lesson learned- no matter what you do it’s going to cost you money!