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On this episode ofSecrets to Real Estate Investing Holly is joined by guest Tim Gordon. Tim quit his job and has been real estate investing for 3 years this week! Holly asks Tim to share the path that led him to real estate investing. Tim shares that he had a variety of jobs before he became a full-time real estate investor; his favorite being the garden shop at Kmart. Tim came to California in 2008 with a his window tinting business, when he realized that wasn\\u2019t going to be something that worked out longterm he knew he needed to start to look elsewhere. A girl he was dating at the time introduced him to real estate investing. While the relationship didn\\u2019t work out it did lead Tim to the real estate path.\\xa0

Holly asks Tim to share with listeners what kind of deals he started out with when he got into real estate investing and Tim shares that he started out with Bigger Pockets. After Bigger Pockets he started attending to the investment clubs which soon lead him to wholesaling for 3 to 4 years while he was also working full-time. Tim shares that the first year he started wholesaling he wasn\\u2019t very successful at it. In the beginning Tim was looking for deals of the MLS, going off of referrals and even working off of other people\\u2019s deals but found that those methods didn\\u2019t produce many deals. Tim discovered that by using direct mail marketing he was able to find more deals. Today Tim does not use direct mail marketing to get his deals but this is because he does not do a lot of wholesaling. Holly asks Tim how much he was spending on direct marketing and he says that he was spending about 4 to 5 thousand dollars a month - which could produce deals that were $5,000 to $50,000 wholesale. Tim shares the best wholesale deal that he ever had which happened a few years ago that he and a partner made over beers at a hotel lobby.\\xa0

Holly asks Tim to share what it felt like to quit his job to work in real estate investing full-time. Tim shares that it was terrifying because he didn\\u2019t have the confidence as some other people do when it came to quitting his job. Tim shares that when he was working in the corporate world he had a job that was basically set up nicely for him; he had health insurance, a company car, nearly 6-figure a year income - but he knew that he needed to quit. Tim also shares that he has set up a business that he pays himself out of every two weeks with direct deposits so that he has the same sort of structure a corporate job would offer and this structure allows him to not stress out about where his pay is coming from as well as not spending more money from the business than he has already allowed himself.\\xa0

Holly and Tim talk about how mindset is everything in the real estate business. Tim says that he can tell when meeting someone he can tell within a year whether or not they will do a deal based on their attitude during their interaction. Tim says that he can tell within the first minute of meeting someone whether or not they are \\u2018all in\\u2019 or not. Both Tim and Holly agree that real estate investing is a team sport. Without the support system and networks that real estate clubs offer some deals might not even be possible. Holly shares that she has put together a Facebook group for the purpose of networking and to help other post and find deals. You can find this group on Facebook at www.facebook.com/groups/hhhreit/

Holly asks Tim to share a deal that he did with a FHA 203K loan. Tim shares that he likes talking about this deal the most but it seems to get the least amount of attention. At the time of this deal Tim was still working in the corporate world and he needed to get a loan. At the time before this deal took place Tim knew that he wanted to find a deal that was a 4-unit apartment anywhere in San Diego county and a house in Oceanside. When he was searching for his wishlist someone came to him with exactly what he was looking for. T'