All Forum Posts by: John Horner

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 Hey John, can you reply to the early comment about the credit line being up to 8 credit cards?  This certainly would not be a traditional unsecured loan, correct?

We target everyone with equity, which is barely a "target" I guess.  This encompasses all of the "non-wanters", as well as everyone who is not a non-wanter who wants to sell for whatever reason.  Say that 5 times fast.

Absentee is a great place to start.  Landlords are very motivated people given the right circumstances.  Rarely do we get absentee leads with fully rented units and happy tenants.  Many times the place will be freshly vacant and the landlord takes the opportunity to get out of the business.  Surprisingly many of our best absentee deals have been inheritance or parents who have purchase properties for their kids and now need to sell.

You will never feel comfortable, that's the fun part!  Most mentor's would want you to take some action on your own before volunteering to hold your hand through a deal, what's in it for them?

Your level of success is directly connected with how uncomfortable you are willing to be!

If you built up $1.5 million in cash, would you just lend it to some beginner investor that you don't even know??? ummmmmmm no.

I would say Pro.  I was contributing long before I had a need for the money for RE, and my company matches 6%, so that's a good deal of money.  I have taken multiple 401k loans to fund RE deals, I think I get 4% or so, which is kind of silly considering I'm paying interest to borrow my own money, but oh well.

 Mint is Awesome!!! I've been using it for years.

My wife and I also use a whiteboard in our laundry room, every time we spend we come home and write it on the board.  We get paid Friday so we go from Friday to Thursdays.  This way it is fully visible and in your space.  You can get a 2x3 or 2x4 whiteboard on amazon for $25 bucks or so.

Another form is setting up multiple bank accounts.  So our paychecks are deposited into our savings account, then every Friday we have an auto transfer set up to transfer our weekly budget from our Savings to our Checking.  This is sure to make you recognize when you go over, because you will overdraft.  I also have another account that is like a flex account, I deposit a few hundred dollars every paycheck for vacations, entertainment, big purchases like furniture, etc.  This is great because it is all automated.  It will take a while to realize where the money is going, but once you do you can adjust your budget and start cutting things out that you don't need.

Good Luck!

 Unfortunately Bobby is right, if you want it done you will have to do it yourself.

 If you get a deal, the investors will come.  Instead of looking for a partner, just ask investors what they want, if they are real they will know EXACTLY what they want and urge you to come to them first when you find one.  Besides, there are so many other options beside wholesaling to a cash investor.  You could find someone who is willing to seller finance or subject too.  Don't let the next step get in your way, you won't understand until you get there anyway.  Just get a discounted property under contract, constantly network and market for buyers, and then put the 2 together.  The worst that can happen is you can't find a buyer and the contract expires and you lose a $20 earnest money or whatever you chose to put down.  I would start listening to Sean Terry's free podcasts from episode 1 seriously.  He is very guru-ish now, but his early stuff is good, and free.  I am NOT one of his students or in his coaching program, all I did was follow his FREE podcasts and TOOK ACTION.  That is how I got started almost exactly a year ago.  I have now closed 16 deals and many more in the hopper.

If you are looking at MLM then RE probably isn't for you. This is not a get rich quick business, you actually have to put in the time.

...and to answer to your question, yes, you can get rich in MLM, but you have to be the one to start it.