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The Secret To Taking Control Of Your Life
Most of us don’t inherit a lot of money or win the lottery.
Most of us don’t feel comfortable having our way paid by someone else our entire lives.
All of us start out needing help.
All of us start as a tiny, naked, screaming baby – helpless.
But we don’t stay that way. If we survived, it was because we got help we didn’t earn or deserve. It was GIVEN to us.
Eventually we learned to take care of ourselves and then, take care of others. We become the primary givers for a while.
And eventually we will get old or infirm (mentally or physically) and unable to care for ourselves again. It’s a circle.
Our hope is that someone will care for us again at the end.
So our task now is to learn to walk and then learn to run. To bring value to the world in the things that we create and, by bringing that value, reap rewards.
If we are smart, we will be rewarded well for what we produce.
I should also say that it’s quite possible to be very successful financially through theft or means that may be legal, but are still technically theft – but thankfully, that’s not a life very many of us want.
Do you want a business or a life that takes without adding to the world? Or do you want to build a business that benefits others while it benefits you and the ones you love?
The more we build and create benefit for others, the more we add to the world, the more meaning we add to our lives and satisfaction we derive from it.
So how do we create a business that is driven by benefiting others?
You find pain and provide solutions to that pain.
As real estate investors, we are constantly looking for people in pain who we can help.
They’re two types of pain that sellers experience.
NEED: We can solve the problems caused by the pain of owning a property a seller doesn’t want or need.
GREED: We can also help people who have a property, make more money with that property.
Let me give you an example of a house we purchased recently from someone who needed pain relief.
Last week, we bought a cheap house in a rural area for $19,000. It needed $10,000 worth of work to bring it up to a value of $75,000.
Once it’s fixed up, it will rent for $650 a month. Taxes and insurance run about $100 a month.
We bought it with no money by having the seller carry a “Contract for Deed.” Our payments are $300 per month (principal only).
It is an interest free loan. That means every payment we make goes 100% toward principal.
If you divide $19,000 (the purchase price) by $300, you get 63 payments. Divide that by 12 months and that’s a little over 5 years.
So we own a $75,000 property free and clear in 5 years.
We also had to put $10,000 in it to get it ready for a lease option tenant.
The lease option tenant will give us $7,500 down – so we get most of our cash back right away.
If I didn’t have $10,000, I could easily have sold this to a real estate investor for $10,000 or more over what I paid for it.
I would assign my right to buy to a new buyer and they could do the fix up.
But since I have the money to do the work, it makes a lot more sense for me to keep the property, the equity and the income.
Buying it from the seller got him out of a property he didn’t want and a headache he didn’t have the capacity to deal with.
So that’s an example of buying a property from a seller in NEED.
The second example is buying from a seller who wants to make more money, GREED.
Here is one we did recently…
The seller had a $350,000 property. He owed $250,000 on the house and had $100,000 of equity.
If he sold the property using a realtor, it would cost him about 10% of the sale price – $35,000. (realtor fees, closing costs, repairs, title insurance, etc.)
Instead of giving away that equity, he allowed us to sell the property for him on a lease with an option to buy.
We got him his entire $350,000 as a sale price plus monthly rent income that will cover the mortgage and give him a few hundred dollars a month in positive cash flow.
We raised the price by 10% $35,000 to $385,000 and put it on the market for sale on a lease option. We asked the new buyer to come up with 10% down, half in cash and half as a promissory note ($400 a month payments).
The seller gets a buyer at full price. They also make money with multiple streams of income.
- positive cash flow,
- depreciation on their taxes,
- buy down on the note each month, and,
- if the buyer doesn’t exercise their option, appreciation on the value of the property over time.
We made $35,000, half in cash ($17,500) and half as a promissory note that pays $400 a month for about 3.5 years.
The new lease option buyer gets a home for their family – something they couldn’t do with a conventional loan.
We serve the sellers and buyers we work with. We solve their problems and we make money. The more people we help, the more money we make.
Doing deals like this gives us control of our business and our lives with nothing more than a signature and the ability to create a deal and talk to a seller.
If you would like my help building a business like this, you should consider getting into my 6-month mentor program.
If you would like me to take you by the hand personally and lead you along the path and through the minefield, you should consider getting into my mentor program.
If you want to work with me personally (not a hired hand), you can find out all about my Six Month Mentor program here:
This website will show you how my program works, what is included, what it costs, what you can expect from me and what I expect from you if you sign up.
There are 3 training videos on the site that go into great detail about what you need to do to build a profitable real estate investing business.
They add up to about 2 hours of education. I call them my “Advanced Training” because that is exactly what they are. If you know nothing about real estate, they may be a bit over your head.
The techniques I teach in these videos come from my personal experience and you won’t find this information anywhere else.
If you aren’t interested in working with me personally or can’t afford to join my mentor program, these 3 videos will still be worth your while.
They will give you an overview of my entire business and show you how to model YOUR business after the step-by-step systems I’ve created.
Even if you ultimately decide not to join my mentor program, I can safely say this Advanced Training Program can completely transform your thinking about building a real estate investing business.
I think these ‘Advanced Training’ videos are one of the best training programs I’ve ever created – and they won’t cost you a dime.
They distill my 35 years as an investor and 20+ years as a coach and give you a complete outline of how we build a powerful, profitable, consistent, reliable, ethical, PEACEFUL business.
They give you the milestones, benchmarks, and SOPs (standard operating procedures) you need to succeed.
That’s it for today!
Good deals are not that hard to find if you have the skill to craft an offer that MAKES SENSE.
I hope you will join me.
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