Today I write to you from ‘Nawlins or as you less-cool people may call it New Orleans. I’ve never been here before but it was on my list of places to travel in 2009. Also, I had a closing last week, which is always nice. And since I had a closing last week, I’ve decided to have some fun at the casino tonight. I was just going through my wallet and I’ve got $876 in cash. So, in response to “peer pressure” from the people I’m here with, I’ve decided to put $800 on one spin of the roulette table. I’m either going to put the money on red or black to keep things simple.
You Must Master A Financially Valuable Skill
If I lose, of course I’ll be ticked off. However, here’s the point I want to make regarding my shenanigans (that word is definitely not used enough). When I first started in this business I was broke. I was the cheapest sun of a gun you’d ever meet and counted every penny literally. Then I made the most important decision of my life: To master a financially valuable skill-Real Estate Investing.
Now I have that skill and knowledge for life and nobody can take it away from me. Sure, someone could come along and take all of my money and houses, but I’d still have the knowledge and could easily start all over. And that’s why I no longer worry about money because I know that I can go wholesale a property, do a lease option or a sub-2 whenever I want (because of my knowledge and marketing skills).
Right now the economy is tough for many people. Thousands of people are getting laid off from the car manufacturers. For these people and everyone else, instead of looking for another similar job they should go out and learn a financially valuable skill. It doesn’t have to be real estate investing, but some skill which pays well.
Real Estate Gives You a $5,000 Per Deal Transaction Value
But, I would definitely go with real estate investing because of the high transaction value. On the low side you’re going to make $5,000 per deal–There are few other businesses that give you those types of numbers. So, here we are in month two of the New Year. If you haven’t done a deal yet, get moving and eliminate all of your excuses. Seven days per week you should be responding to craigslist ads in the “for rent” section. Every Saturday you should spend two hours driving for dollars. And every month you should have at least 1,000 pieces of direct mail going out. Of course, you only need to do these things if you want to make six-figures this year and quit your job.
By the way, next week I’ll let you know if I’m $800 richer or poorer.