All Forum Posts by: William Montague

Kaen and others no matter how passionate you are about what is going on you can only control what you can control. Do a GREAT JOB at that and influence the ones in your circle we will all have it better. No matter what the situation it is what it is.

I stayed out of this debate because opinions, facts and rederic all come out when you discuss politics and religion.

Lets focus on buying some of these toxic assets that are out here in abudance. I am focused on what I can do to make my life and others around me better. No matter your political views if you don't do something about what you can control in your life you will be like millions of others trying to find there way and constantly complaining along the way.

Man will constantly err and we must realize that. We ourselves can not fix the problem, but we can have a MAJOR impact on it by doing the things that we can do. The private sector will correct this mess and only then will things get better.

Enjoyed, but to me it did not solve anything because we you leave the thread the problem is still right there. We can agree to disagree, but we do not have to be disagreeable.

SUCCESS BREEDS SUCCESS

Here are my observations:

1) You have to get a bigger discount, whether you're wholesaling or not

2) There appear to be fewer buyers to wholesale to now who have cash, so work harder at building a list of real players

3) Private lenders are a little more wary of loaning on real estate, but you can just show them in more detail how you buy at big discounts and they understand. Use the analogy of how the Rockefellers made their fortune in the depression, etc.

4) With making offers, I would make ridiculously low offers with a straight face, as I hear about so many people getting smoking deals for 50% of today's value

Though I consider my residence a liability, it is one unit within a 3 unit I own that is zoned for residential and commercial use. I'm going to seperate residence from residence premises. The residence premises (an insurance term used to describe the entire property as a whole, not just the area you live in) of my 3 flat is an asset, though my individual residence within it is a liability. Tom's house on his property may be a liability, but the residence premises is a commodity producer.

Think about your residence premises. Is there something about it that can be turned into an income producing asset even though your residence itself is a liability? If the answer is no, take a look around you in your market. The market is filled with great buying opportunities. Is there a way to maintain your standard of living within a residence while acquiring a residence premises that is an asset?

If you're a condo or apartment dweller, why aren't you living in a multi-unit? If you're outside the city in a McMansion in a subdivision on 1 acre lots, why aren't you in a rural McMansion outside the city on a 5-50 acre piece of land zoned agricultural, costing less in taxes and at the very least, leasing out horse boarding or commodity growing rights to another farmer? There are ways to do this without massive lifestyle shifts.

I just received his book Multi Family Millions. I'll let you know about that if you're interested.