Being in Debt Sucks!

So as you know I run the local REIA group in Kansas City and have been putting the marketing together for our meeting next week.  

Our guest speaker is Jason Roberts a real estate investor from St Louis who was a very successful mortgage broker before the crash, lost it all and then came back from the ashes flipping houses he buys through short sales among other things.  His come back he attributes to principles he learned through the Lifeonaire Movement and he will be coming in to share his story and how using Lifeonaire concepts you can plan how your life should look, develop a plan to get to that stage.

So in his case he had to find a way to shed his debt and create a new massive income to pay off that debt.  In his case he flipped houses.  Because he is only one man and didn't want to do everything himself, he shares how he planned his business so that much of the work does itself either with technology or outsourcing or partnering.  

It's not really complicated, its just a different way of looking at things.  To get the whole Lifeoonaire concept you can look it up on YouTube to get some videos or you can buy the book on Kindle (even get it for free on Kindle Prime)

So here's the reason for my post - Being in Debt Sucks.  As the leader of the REIA I hear a lot of peoples problems, trials and tribulations, I hear about successes and I hear about abject failure. 

I want to focus on the failure for a minute here as we don't talk about failure much when we are posting here on BP

No matter how bad the failure, there is a way to resolve - remember we are investors and we help people everyday who have huge problems - we call the motivated sellers.

So if you are stuck in a deal with a house there are solutions - sell it at a loss, sell it through a short sale, let the bank foreclose, let someone else take over payments, bring in a partner to help you.

If you are stuck in a deal where you are the borrower - see selling the house in the deal as above, or if you don't have anything of value to sell to pay the debt, renegotiate the debt, come up with a 20 year plan to deal with the debt, even declaring bankruptcy is an option.

You can come back from failure - there are many big time gurus out there who did just that - Has not the Donald went the bankruptcy route

- Thomas Edison was told he was too stupid to learn anything

- Oprah Winfrey was fired from her first TV job

- Walt Disney was fired for lack of imagination

- Henry Ford ruined his reputation with several of his first failed automotive businesses.

And Jason Roberts came back from the failure of his mortgage business 

And I see many members of MAREI that gave up and dropped out in the downturn that are now back and doing well.

So I want to invite everyone reading this who are already in real estate to take the time to find out more about Jason's story - it's on the Lifeonaire YouTube Channel and he will be in Kansas City next Tuesday sharing his story.  I want all of you new investors just getting started to seek out the story as well, you might learn from a few his mistakes and his successes - and how he now invests debt free .

And if you are facing a huge disaster in your life, be it real estate or otherwise, please, please, please - reach out for help.  People will help, creditors will work with you - there is a solution - you just have to ask!