All Forum Posts by: John E.

@Jeffrey Lester 

My 2 cents~ Try and find creative financing methods. It seems that property values are high relative to the rents in that market, so perhaps a motivated seller will be willing to discount their price in exchange for your prompt assistance. Subject tos, owner financing, wraps, and lease options could work.

On the topic of lease options... Make sure to check your local laws on those. I'm sure you'll be fine, but it's better to be safe than sorry. A student may not be able to become the tenant buyer in your sandwich lease option (rent it out for slightly higher and sell to them for above what you have an option on the property for), so maybe you could work with older tenants.

I know you're looking at rentals, but have you looked into other avenues as far as making money in REI is concerned? Wholesaling, flips, short sales, and a lot more. Just because you have your eyes on cash flow doesn't mean you should reject a good "short-term" deal.

Thoughts?

@Brie Schmidt Incredible! I am so proud of you and all of your accomplishments in RE investing! You've been such a great help to me over the past few days & I can't thank you enough for all you do.

It probably is scary leaving the J-O-B, but I firmly believe this is a BIG step in the right direction for for you. Hopefully your business explodes from here on out!

Keep on inspiring & the best of luck to you my friend!! :)

Bump! I loved Podcast 70! Grant Kemp is KILLING IT out there in Dallas and I've listened to his podcast 3 times already. I love the owner financing model because it's so passive when collecting payments and it's an awesome means, in addition to other forms of seller financing, to acquire properties. A nugget I took out of there was disclosure! 

Glad to see that both of you, @Paul Janerico & @Eldar M. liked it!

@Liam Goble That was an incredible Buddha like response. I would definitely concur on how much of a happier life you can live if you forgo the doodads and go after your true wealth.

@Jon Klaus  I was listening to a retirement podcast recently that gave me a mental slap in the face. The host talked with his about how the money you conspicuously spend in the pursuit if one upping the Joneses such as TVs, new cars, boats, big homes, and other doodads is NOT EVEN CLOSE to what you've missed in your opportunity cost. The $5 you spend on a latte is probably going to cost you 10, 15, or 20+ dollars over the decades considering that your money could have experienced growth in your asset column thanks to appreciation and a compounding affect. 

One purchase of coca-cola stock back during it's IPO in 1919 would be worth about 5 million dollars today! The $5000 you use as a down payment on a new car could instead be used to catch up a motivated sellers missed payments and add another rental to your nest egg! I mean if you forgo a few nights out you could buy a vending machine for crying out loud! That's why I'm going to remain prudent with frugal spending habits! 

I was reading an old copy of Value Line from 2009 that recommended Price Line (PCLN) back when it was under a $100. It closed today for $1247.96! Talk about opportunity cost! 

If one of us had given up a pair of Nike shoes we would be $1000+ richer.

Hey guys! I've written out my goals before, but I find that jotting down a few bullet points on what I want to achieve just isn't enough. I know that written goals is an integral component of success it's just that I don't know exactly how to go about doing.

I recently finished reading Think & Grow Rich and I want to create a goal sheet that I can review regularly. I know some of you on the site have done so and I would really really appreciate it if I could get some examples or templates on what YOU or others you know have done.

I feel like this is the most important question I've asked.

I like what Earl Nightingale says about goals and their effect on the mind...

“Success is the progressive realization of a worthy goal or ideal.”

Grazie Mille! (A thousand thanks!)

@Aaron Montague I know! My uncle is looking to purchase a duplex in the area and he says it's almost impossible to find a property on the MLS for under a fortune! That's where marketing and creative methods come into play in your acquisitions.

Thanks for the reply bud!

Sorry for the triple post! The site kept bringing me back to a page that said an error occurred, so I kept on reloading & reposting by mistake! 

*Disclaimer- I LOVE Robert Kiyosaki and his books (especially RDPD). The financial wisdom he has imparted upon me has left an indelible mark that has changed my life for the better.

Ex. “The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant.”

? Robert T. Kiyosaki, Rich Dad, Poor Dad*

His training programs are licensed to Whitney Information Network. In many of his books he prides himself on using business licenses to expand his business and reap huge sums of profits. They are scams!

I recently scoured the web for videos of his exorbitant training sessions to see if the "insider secrets" his Rich Dad company touts to possess really justifies a 5 figure price tag. In many of his books he subtly tries to guilt trip readers into more business related seminars (while soft selling his own along the way!) because in his mind the XYZ amount is minuscule when compared to the amount of money you could make with them. While that is true, what I found in some videos that leaked onto the web was NOTHING compared to what you could find on BP. I mean the podcasts, blogs, and forums are WAY higher up on the value scale than any of Rich Dads trainings.

I mean the Rich Dad coach was teaching people who must have dished out thousands what subject tos and land trusts were. This is the "gold" that people shelled out their money for? Jeeez!

Not to mention that some of the coaches encouraged attendees to raise their credit card limits to the point where they could afford the sometimes 40k+ price tag!

Here's a link to one of the trainings people paid for...

https://www.youtube.com/watch?v=UONtVrnonSk

*Disclaimer- I LOVE Robert Kiyosaki and his books (especially RDPD). The financial wisdom he has imparted upon me has left an indelible mark that has changed my life for the better. 

Ex. “The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant.”

? Robert T. Kiyosaki, Rich Dad, Poor Dad*

His training programs are licensed to Whitney Information Network. In many of his books he prides himself on using business licenses to expand his business and reap huge sums of profits. They are scams! 

I recently scoured the web for videos of his exorbitant training sessions to see if the "insider secrets" his Rich Dad company touts to possess really justifies a 5 figure price tag. In many of his books he subtly tries to guilt trip readers into more business related seminars (while soft selling his own along the way!) because in his mind the XYZ amount is minuscule when compared to the amount of money you could make with them. While that is true, what I found in some videos that leaked onto the web was NOTHING compared to what you could find on BP. I mean the podcasts, blogs, and forums are WAY higher up on the value scale than any of Rich Dads trainings.

I mean the Rich Dad coach was teaching people who must have dished out thousands what subject tos and land trusts were. This is the "gold" that people shelled out their money for? Jeeez!

Not to mention that some of the coaches encouraged attendees to raise their credit card limits to the point where they could afford the sometimes 40k+ price tag!

Here's a link to one of the trainings people paid for...

https://www.youtube.com/watch?v=UONtVrnonSk

*Disclaimer- I LOVE Robert Kiyosaki and his books (especially RDPD). The financial wisdom he has imparted upon me has left an indelible mark that has changed my life for the better. 

Ex. “The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant.”

? Robert T. Kiyosaki, Rich Dad, Poor Dad*

His training programs are licensed to Whitney Information Network. In many of his books he prides himself on using business licenses to expand his business and reap huge sums of profits. They are scams! 

I recently scoured the web for videos of his exorbitant training sessions to see if the "insider secrets" his Rich Dad company touts to possess really justifies a 5 figure price tag. In many of his books he subtly tries to guilt trip readers into more business related seminars (while soft selling his own along the way!) because in his mind the XYZ amount is minuscule when compared to the amount of money you could make with them. While that is true, what I found in some videos that leaked onto the web was NOTHING compared to what you could find on BP. I mean the podcasts, blogs, and forums are WAY higher up on the value scale than any of Rich Dads trainings.

I mean the Rich Dad coach was teaching people who must have dished out thousands what subject tos and land trusts were. This is the "gold" that people shelled out their money for? Jeeez!

Not to mention that some of the coaches encouraged attendees to raise their credit card limits to the point where they could afford the sometimes 40k+ price tag!

Here's a link to one of the trainings people paid for...

https://www.youtube.com/watch?v=UONtVrnonSk