Top 7 Real Estate Investing Strategies for Today’s NEW Market
- About the Authors
- Why Working with Us Will Change Your Life
- How Did So Many Americans End Up Like This
- What Happened to Real Estate Prices
- Easy Money Home Loans
- A Closer Look at the Crushing Result Looser Lending
- Getting Out of Your Box
Obviously, we can’t teach you everything in one giant session. You would be completely overwhelmed. Read below to see what you have to look forward to.
Please read every single word and every lesson. Do the homework that is assigned. This program will get the ball rolling in the right direction – the direction of true financial freedom!
LOOK WHAT’S IN STORE FOR YOU:
Finding All the Great Deals You Can Handle, Short Sale® Secrets, Why Does the Bank Short Sale, Requirements for Financially Distressed Homeowners, Quick Step Short Sale Guide,
What Is Wholesaling?, Negotiating Like a Professional Real Estate Investor, Scripts That Will Have Homeowners Eating Out of Your Hand, Government Guaranteed Rent, Screening Section 8 Tenants, Maneuvering the Section 8 Site, Rehabbing for Riches, How Do I Know If My House is Worth Less than the Mortgage, How to Estimate the value of Your Property, What Banks Want, Government Programs and Mortgage Relief Organizations, Mortgage Relief, Option #1 – Loan Modification, Option #2 – Forbearance Agreement, Option #3 – Subject-To, Option #4 – Short Sale, Option #5 – Chapter 13 Bankruptcy, Option #6 – Deed in Lieu of Foreclosure, Homeowner Loses Don’t Stop With Foreclosure, Deficiency Judgment and How It Affects Homeowners, The 1099 Tax Monster and How It Affects Homeowners, Helpful Tips for Homeowners, Helping Homeowners Understand the Three Points of View, Teaching Homeowners How to Rebuild Their Credit, Step-by-Step Direction to Rebuild Credit, Encouraging Words for Your Homeowners, Offer Tips to Avoid Disaster Again, Can I Really Do It with No Experience?, Am I an Active or Passive Investor?, Active Investor Description, Passive Investor Description, Self-Test, Getting Started, Action Plan, Setting Up Your Business,
Attitude, Appearance, Equipment, Goals, Can I Really Do This in 30 Days or Less? And the BONUS SECTION!
Throughout my adult life I have worked an endless string of dead-end jobs ranging anywhere from waiting tables at Denny’s, to selling vitamins on the phone, to owning a tanning salon. Most of the jobs in my past paid okay, but were unrewarding and required me to work many hours. I went from job to job looking for something that I could really sink my teeth into without much success. I thought I had found it with the tanning salon. As it turned out, I was tied to the salon seven days a week. Every weekend when one of my girls called in sick, guess who had the privilege of working? Right… me. I got to the point where I hated the business because of the insane hours. I went for two years with hardly a day off. I decided to sell the business and get my life back.
Around this time I met a man, decided to get married, have babies, and be a stay-at-home mom. At 29, I had a baby on the way and life was looking pretty good. But, things happen, and a year later I found myself with an eight-month-old daughter going through a divorce. Life as a single mom had definitely not been in my game plan.
As a result of a very messy situation, I now had no money, no car, no job, and $75 in the bank. It was a bleak situation. I had to borrow money from an aunt to buy a car so I could job hunt. I desperately needed to go back to work, but the idea of leaving my daughter in day care, working for someone else all week, and then paying my hard-earned money to the day-care center was unacceptable. This just was not a sacrifice I was willing to make! I needed a new game plan and I needed it now!
As fate would have it, around this time I met a group of guys who seemed to be leading a pretty leisurely life… golf every day, always traveling, constantly going out and spending money. You name it, they were doing it. Turns out, they were real estate investors. I knew I had found the answer to my prayers. Being a real estate investor would allow me the freedom to work from home and raise my daughter myself. I learned as much as I could and went for it.
I bought my first dump and went to town. I became such a regular at Home Depot and asked so many questions that when the guys saw me coming, they would run the other way. They knew if they stopped to answer “just one quick question,” I would keep them for an hour asking details about my next step of rehab. I took all of the weekend classes they offered, learned what I could, and got my rehab underway. I did all the rehab on the property myself: paint, tile, plumbing; you name it, I did it. I started to see a light at the end of the tunnel. The more I worked, the better my property looked.
After the repairs were completed, I put the house on the market, sold it four days later, made over $20,000 on my first deal and never looked back!!!!!!
When I worked my dead-end jobs, I would work all year long to make $20,000. To make that in one deal, working from home, and having my daughter by my side was a dream come true. I decided at that moment that real estate investing was for me. I never dreamed it would turn into such an amazing career!
As I began making a dent in the real estate market in South Florida, folks started asking me to teach them the secrets of my success. One thing led to another and soon I was teaching nationwide.
Several years ago, I was teaching at a three-day convention in Colorado when I met a great guy. We struck up a conversation, went on a date a few weeks later and recently got married! The funny thing is I swore I would never date an investor. I figured I already “eat, sleep, and drink” real estate and didn’t want to spend all my free time talking about it as well. God has a funny way of bringing you exactly what you need even if it’s not what you think you want.
Since Bill is also a successful investor, he makes his own schedule and is able to travel with me. Along with Bill came two bonus kids, so now we are a family of five. We spend our time teaching, doing deals, and spoiling the kids. Folks, you never know what can happen by getting involved in real estate. I now have money and a man … I can’t help you with men, but I can certainly help you make money.
After all these years in the business, I still love it. I love to do deals and I love to teach new investors how to become successful. Honestly, nothing gives me greater joy than to receive letters from students who have just closed their first deal and earned a huge check. I get tears reading the letters I receive. I am humbled that I have been placed in your life today so that you can change your financial future.
Keep your eyes and ears open and always be prepared for opportunity. There are deals around every corner!
I grew up in a small town in Iowa. My Dad owned a successful commercial painting contract business. My brother and I worked with Dad as young boys. When I was 24 years old I started my own business in Houston Texas. I painted water towers, silos, and radio towers. You name it; I painted it.
I was preparing a bid on a huge job when I was required to take a respirator test. This test requires you to breath into a test tube to see what your lung capacity is. I failed miserably. My doctor told me that if I wanted to live to be forty, I needed to quit painting immediately and move to a higher altitude to clean out my lungs.
I packed-up my family and moved to Colorado. I had no idea what to do next. I had some cash and thought I’d try retirement. Two months later I was climbing the walls and searching for something to do. I happened into a real estate office and that is where it all began.
This realtor was sitting at his desk with his feet propped up. Curiously, I ask him if this is what he did all day. He informed me he ate donuts and waited for clients to walk-in from newspaper ads. He said he earned $50,000 per year and averaged ten properties per year. Being the assertive person that I am, I figured I could do the same thing, but I would sell one hundred houses and make some real money.
My first year as a realtor I sold seventy nine houses; my second year I sold one hundred and twenty three. I was really making a name for myself and loving every minute of it! In August of 1994 I was exposed to Mike Ferry and he became my mentor.
A few years later, I went to war with the IRS and my ex wife. The result was a nasty divorce and a huge tax liability. That was a defining moment for me. I decided then I was going to help folks who were in bad situations: divorce, foreclosure, IRS problems or whatever. I wanted to be an advocate for the people.
My first year as an investor, I sold eighty properties. The money was ten times better and I was helping folks. I was hooked and have been doing it since. To date I have sold well over 800 properties.
A couple of years ago I met Dwan at a seminar and we married the following year. Since then we have blended a wonderful family of five, we travel and speak together, and are loving life.
Real estate has been very good to both of us. We wish the same for you. Folks, you truly can make as much money as you are willing to work for. There is nothing keeping you from earning a million dollars each and every year.
WHY WORKING WITH US WILL CHANGE YOUR LIFE
Investors, the only person who is going to change your financial future is you. We can teach you everything we know about real estate investing, but if you don’t use and practice it, nothing in your life will change.
It’s important to determine what financial freedom means to you. It means many things to many people:
- Not having a boss
- Living in your dream home
- Being out of debt
- Paying the bills on time
- Driving a nice car
- Not having to use public transportation
- Taking your kids to wonderful places
- Taking care of your retired parents
- Moving to a better neighborhood
- Sending your kids to college
- Taking a vacation several times a year
- Taking your entire family on a dream vacation
- Having someone else clean your house (one of our personal favorites)
“Determine what financial freedom means to you.”
Many of you have been downsized or lost a business because of 9/11, others may be going through a divorce; or involved in other unfortunate situations. The great thing about working with us and following our formulas are that we have been there. Many gurus teach folks how to become a successful real estate investor, but they have never not been successful themselves. It is easy to teach people how to make money if you have money to start with. Anyone can buy a property with money…anyone. Where the challenge lies is to be down and out, get back up on your feet, and teach others how to do the same.
“You are the only one who can change your financial future!”
Many of you may not be in a bad situation at all. You may have a great job and are just looking to make extra cash so you can retire early, buy a second home, or simply travel more often. Regardless of your situation, we are going to make you rich. Make me rich? Sounds like a bold statement, Dwan and Bill. How are you going to do that?
nvestors, if you will follow our instructions, you will have all the money you can spend. We have been involved in every aspect of real estate investing. We began as rehabbers and progressed to wholesalers. We began as a rehabber only because we didn’t know anything else existed. We bought, repaired, and sold properties in foreclosure. After being in this business for several years, we discovered wholesaling and our lives changed dramatically. The weird thing is that we didn’t know each other when we first started, but we were on the same path.
We don’t suggest any new investor start with rehabbing; it is too risky and the market isn’t right. We want to show you how to make money without using any and with no risk.
In a nutshell, wholesaling is making money on property you don’t own.
You put a distressed seller and a rehabber together and make money by being the middleman. It is amazing and truly takes no money! We will talk more about wholesaling in just a few minutes, so hang on. Let’s cover a few more things first.
“Your idea of financial freedom will change as you make more money.”
Friends, as we asked earlier, what does financial freedom mean to you? As we became more and more successful, our ideas of financial freedom changed. Yours will, too. Our idea of financial freedom now is to do as many things as we can with our kids while they are young and still foot lose and fancy free.
In the last several years, our kids have been in 20 states and to nine countries. They are having so much fun. We are not sharing this to brag, we are showing you what you have to look forward to. Again, determine what financial freedom means to you and go get it. Our kids now want to take over the business. They are so cute. They think they are going to do deals, teach our classes, and take care of us. We admire their determination, but they don’t realize that we love it and don’t want them to take care of us. We do want them to join us in this business, but are not ready to hang up our hats just yet.
Write down five things that will make you feel as if you are on the right track toward financial freedom. Remember, it means many things to many people so don’t judge yourself by the standards of others.
It’s okay if you list paying the electric and phone bill on time this month instead of owning a house on a mountaintop in Hawaii.
We all have to start somewhere. Later in the program, you’ll have the opportunity to write goals. List a few things that will make you feel more financially free today.
What does financial freedom mean to me today?
Now that you have determined what financial freedom means to you, let’s determine how you’re going to get there. One of the first steps is to understand how America got in this mess in the first place.
You are going to love this program. Make sure to read every single section.
Part of this program will teach you how to make money;
other parts will help you understand the homeowner’s point of view;
other parts will help you take the first step and so on.
HOW DID SO MANY AMERICANS END UP WITH UPSIDE DOWN HO– USES?
If you are like many homeowners today, you feel overwhelmed by what is supposed to be the American dream-homeownership. We have this vision of what it is supposed to be like-cute house, white picket fence, a couple of kids, a dog in the backyard, summer barbecues, family time, and so much more.
We find a house and fall in love with it. We then find a mortgage broker who offers us an amazing deal-zero down or a low down payment or low fixed payments for two years or something along those lines. We buy the house, move in, and all is right with the world.
Soon, our two-year low monthly payment resets, the payment raises, then it resets again and the payment continues to rise. Now the stress of making our mortgage payment is all we think about and we become disillusioned with our American dream.
The dream continues to crumble when you try to sell your house to get free of the payments only to find that property values have dropped nationwide and you now owe more than your house is worth. Sadly, there are hundreds of thousands of houses on the market that aren’t selling because folks, just like you, owe more than their house is worth.
If you have the time and money, you can wait out the market and sell your property when values come back up. If you are like most Americans, you don’t have the time or resources to wait it out. You want to be relieved of the stress today.
Many of you reading this book might be another type of homeowner-real estate investors disillusioned by the dream of getting rich buying and selling real estate. There are so many late-night television shows that make real estate investing seem like a breeze. You bought a property hoping to make some money on it, and now it’s costing you more than you can afford-every month.
The good news is that there are many solutions available that most people don’t know exist. Did you know that you can negotiate with your bank to accept less than you currently owe as full payment? Are you aware that here are government programs that will allow you to rent out your house for three times the current market rents? No matter where you are in your property situation-there is a solution for you.
Education is power. As you read this program, you will begin to realize that you are not alone and that there are solutions to your problem. You will be able to sleep again, you will have less stress in your life, and the best part is-you can start fresh and own another home again and continue the American dream-homeownership with knowledge!
As we write this, there are over 6 million people in foreclosure! What is a nation to do when foreclosures are on the rise? We must band together to help as many people as possible. Our company has completed over 1,800 personal transactions and coached thousands more through tough situations to help homeowners walk away from homes they could no longer afford.
Our goal is to educate you on several different options so that you can help any homeowner you meet. There are many methods to make money investing in real estate. Don’t let anyone tell you that you can’t do it, that you don’t know what you are doing, that you can’t do it without money, credit, or a real estate license. We will teach you how to use many proven methods to make more money than you can spend!
WHAT HAPPENED TO REAL ESTATE PRICES?
Before we jump into the program, we want to talk about what is currently happening in our economy. In the late 1990s and in the early part of the 2000s, banks had tougher guidelines about purchasing a property when using conventional financing. Banks would lend you money based on your debt-to-income ratio and your credit score. Back then, a maximum of 30 percent (sometimes up to 40 percent) of your income could be used toward a mortgage payment. For example, if your monthly income was $2,000, you could qualify for a mortgage payment of $600 including principal, interest, taxes, and insurance (PITI). Most investment properties required a 20 percent down payment and proof that you could afford the investment mortgage payment in addition to your residential mortgage payment. In some cases, the banks would stretch the loan amount allowing 40 percent of your income to be applied toward the mortgage payment.
However, what if you have a car repair, medical bills, need a home repair, need to buy clothes, or anything else? Where does the money come from? What about trying to save for retirement or trying to care for ailing parents? Sometimes life just takes over, you have a problem, you use some of the money that should be used for the mortgage payment, and next thing you know-you are one payment late, then two, then three, then the bank files foreclosure papers, and then everything spirals out of control.
Many investors bought rental properties when they had no landlord experience. When their rentals sat empty, they used mortgage money to keep up the rental payments or worse yet, they spent the rental income for their own bills and fell behind on investment properties, which often ended up in foreclosure without the tenants being aware of anything until they were served with eviction papers from the sheriff. Often tenants had to move out in three days. It would stun you to see how many investors are going under right now. This is a perfect time to become a real estate investor. Not only can you help homeowners, you can help other investors!
Did you know that Henry Ford went bankrupt five times?Think about it:
- He started a company and went bankrupt.
- He started another company and went bankrupt.
- He started yet another company and went bankrupt again.
- In spite of all the naysayers in his life, he started another company and went bankrupt again.
- Still not defeated, he started another company and went bankrupt again.
Then he started Ford Motor Company – who you may be making payments to right now.
The average person’s life span is 75 or so. If you or the homeowners are trying to help are in financial hardship and it takes you three years to recover, in the big picture, it’s not that much time. When you recover and start over, you’ll have many more good years than bad.
People tend to live above their means in this country. We both like living our spoiled lifestyle, however; we didn’t come by it easily. We have both have had financial problems in the past, gone through divorces, suffered foreclosures, bankruptcies, and barely gotten by. Through a lot of hard work, cutting back, and many blessings from God, we were able to make it to the top income percentage in the entire country.
We want you there right beside us – AT THE TOP!
EASY MONEY HOME LOANS
The financial crash began in the mid 2000s. The mortgage industry came up with what seemed like a good idea-easy loans to boost the economy. These loans were designed to give as many people as possible the chance to live the American dream-property ownership. People are often so focused on owning a home that they are willing to stretch themselves just to do it. This is where is all started to go downhill. Too many people went out on a limb. These creative loans did just what they were supposed to do-boosted the economy. The problem is that no one really thought it all the way through.
It also became very easy to buy investment properties. So many people jumped on the bandwagon and invested in more property than they could actually afford. Many investors went to several different banks at the same time and borrowed from more than one just to buy multiple properties. Without landlord experience, owning multiple properties can be a recipe for disaster.
There are several different types of creative loans-still available today-and we’re going to spend some time here explaining them to you. See which one your homeowner falls into, if any.
These loans were among the most popular. With a typical payment, you pay principle, interest, taxes, and insurance. The bank takes your full monthly payment and uses the money to pay for the various items. The bank keeps the interest and principle portion of the payment and saves the balance to pay the property taxes and the homeowners insurance when they come due.
These loans were extremely popular with investors because they figured property values would continue to climb and they could collect rent for a few years and then sell the properties for a quick profit. Many investors made the smallest payment possible to get as much cash flow as they could. This is called “pick a payment.” Unfortunately, it didn’t work out very well. Property values fell, the mortgage payments reset to a higher amount, rent didn’t cover the new payment, investors’ home mortgage payments also reset, gas prices went up, people moved into cheaper rentals, properties became vacant, and investors started losing their shirts across the country.
The biggest problem with interest-only loans is that people borrow based on the payment. If $725 is the most you can afford, you don’t buy a house with an interest-only payment of $725. You buy a house with a PITI payment of $725. We feel that the lending industry used extremely poor judgment giving loans that people could barely afford with the low interest payment knowing the payment was going to reset soon. Since most of us think in the “here and now,” people weren’t prepared when their payments started rising.
Like investors, many homeowners figured they would refinance their houses when the new payment came due because property values were rising. Unfortunately, property values dropped and people found themselves owing what their house was worth and they were unable to refinance. The fact that no one could refinance caused a recession. Most of the initial interest-only loans were given with a two, three, five, or seven-year fixed rates. This is why foreclosures are going to continue to rise – the three, five, and seven-year loans haven’t reset yet.
There are millions and millions of these loans still out there. This is the most popular reason you will find for foreclosures today.
You don’t have to prove to the bank what your income is. You can tell the bank you make $100,000 when you actually make $50,000.
We teach our students to always buy a property based on what you can afford today or what it will rent for today-including principle, interest, taxes, and insurance. Don’t buy a house based on a possible raise, a new job, low interest payments, or anything other than PITI.
These loans are killer. They allow a homeowner or an investor to buy a house based on stated income. Investors went nuts over these loans. Typically, homeowners as well as investors have to prove their income in order to purchase a property. The more you make, the bigger the house you can afford or the more rentals you can buy. Liar loans allow you to buy a property based on what you “state” that you earn. As long as you had good credit, the banks did not ask for much else. We used to joke that as long as you could fog a mirror, you could get a loan. Unfortunately, you need to do more than fog a mirror to own a home.
You might make $50,000 a year and qualify for a $100,000 property. By stating that you earn $100,000 a year and with an interest-only loan, you could buy a $200,000 property. The problem is that you really only qualify for a $100,000 property and based on reality. Again, you have an emergency and next thing you know, you’re using your mortgage payment money to pay for things. The term “liar loans” is a bit harsh, but it states exactly what it is-people lied to get a bigger house or to buy more rentals.
It is incredibly important to buy only what you can afford. We know you’d like a bigger house, a bigger yard, a nicer car, and more. We all do. We discovered that when we were both younger (and still didn’t know each other) we had a hard time waiting and working for what we wanted.
We both bought places we could not afford, ran up too much credit card debt, made bad decisions, went through divorces, and foreclosures. Once we met, it seems like God just opened up the world to us and things really started to happen. When we met, we were both doing well financially, but together, we have been unstoppable. There is no shame in making mistakes.
What is a shame is not to learn from your mistakes and then to continue making them. All of you can make a fresh start, get further ahead, start a second career, recover from the poor economy, and have more than you have ever dreamed of as long as you learn from the mistakes you may have made this time around.
Homeowners love HELOC loans-Home Equity Line of Credit-because you only pay interest on what you borrow. For example-say you originally bought your property for $125,000. Over the years, it has gone up in value-it’s now worth $200,000. Instead of refinancing your property for the $200,000 it is now worth, you take a HELOC loan. You get approved for $75,000. Along with the $125,000 on the first mortgage, you also have $75,000 line of credit.
The great thing about a HELOC is that you only pay interest as you use the money. If you use $10,000 of the $75,000 that you are approved for, you only pay interest and payments on the $10,000 you are using. The bad thing is that people often have a hard time controlling a credit line like that. They use the money to pay off credit cards or buy things and then run the credit cards up again and get back into debt. If you used your line of credit to pay credit cards off, now you owe credit cards and your credit line is used up.
Many would-be investors use HELOCs to buy rentals. We suggest that you never use your primary residence as collateral to buy investment properties. If things go wrong, you don’t want to lose your place of residence.
It is very easy to get into financial trouble with a loan like this. They are easy to get, payments can be low, and it is tempting to buy stuff with the money. You think, “I’ll just buy this one thing and then I’ll pay it off.” Next thing you know, you’re buying a second thing and the first one isn’t paid off. It doesn’t take long to get out of control.
As the debt builds, you decide to refinance your house to pay off the HELOC. The banks are offering an attractive, low monthly, interest-only loan. Property values drop and now you owe more than your house it worth and-boom-you are in financial trouble. See how easy it is to get into financial trouble? We can’t stress enough-only buy what you can afford today! No matter how attractive a loan looks, no matter how low the payments are, no matter what the initial cost to get into the loan . . . don’t do it unless you can easily afford the principle, interest, taxes, and insurance with the current income you have right this very minute.
A CLOSER LOOK AT THE CRUSHING RESULT OF LOOSER LENDING GUIDELINES
As we mentioned earlier, banks give loans based on your income versus your debt as well as your credit score. If you make $2,000 a month, your mortgage payment would be approximately 30 percent to 40 percent of your income-if you have good credit. This means that your payment could be as high as $800, but no more. The $800 would be principle, interest, taxes, and insurance.
As the 2000s progressed and property values skyrocketed, many banks loosened their lending guidelines to boost the economy. Banks began to allow 50 percent to 60 percent of your income to be used toward a mortgage payment. Most banks offer an 80 percent first mortgage and a 20 percent second mortgage to total what you are borrowing.
For example, if you are borrowing $200,000, you might get $160,000 on a first mortgage and $40,000 on a second mortgage to total $200,000. By borrowing 80 percent on a first mortgage, the banks lessen their risk if you were to default. The riskiest part of a loan is the top 20 percent. If the bank takes the house at the foreclosure sale, it might lose the 20 percent second mortgage, but it would recoup the 80 percent first mortgage by selling the house at the sale or by selling the house later via a real estate agent.
Typically, when you have a first mortgage and a second mortgage, the interest rates are different:
The first mortgage offers lower interest rates, typically has less closing costs, and is a 30-year loan. Based on good credit, you might pay a 6|1/2| percent interest rate and pay two points. A “point” is 1 percent of what you borrow. On a $100,000 house with one point, you would pay $1,000 toward closing costs.
A second mortgage usually has higher interest rates, more closing costs, more points, and is a 10-year loan. You might pay 9 percent interest and have four points at the closing. If the banks give enough second mortgages, they make a lot in points and interest, and it offsets the mortgages they lose in foreclosure.
Let’s look at what a 60 percent debt-to-income payment might look like. Say your income is the same $2,000 as in the first section. Instead of a high payment of 40 percent of your income-which is $800-you get an even higher payment that totals 60 percent of your income-which is $1,200. There is an $800 per month first mortgage and a $400 second mortgage. Because the first mortgage is still 40 percent of your income, you qualify for the loan. The second mortgage puts you under each month. Now let’s look at the same figures we looked at earlier:
$800 first, plus a $400 second
You are going in the hole $400 each month. Again, what about savings, emergencies, retirement, kids, ailing parents, and more? People try to juggle things, maybe take a second job, use savings to make mortgage payments, and then they get buried. Things spiral out of control and you lose your house. Along with losing your house, you lose your zest for life, you’re embarrassed, you feel like a loser, you think things will never get better, you beat yourself up over where things went wrong, and much more negative energy is wasted. Does this sound like anyone you might know-maybe even you?
Whether you are a homeowner in distress, a real estate investor in distress, or just looking for a great deal for yourself-we have something for you. Please read this book with an open mind. It is never easy to start over, but it may be necessary. We promise, life can be great again. You can own a home, you can invest in rentals, you can become wealthy, you may even share your story and offer encouragement to others . . . we do!
GETTING OUT OF YOUR BOX
Now that you understand what happened to our housing market, let’s get your mindset ready to become a superstar real estate investor. What do we mean by getting out of your box? It’s simple, folks, if you always do what you’ve always done; you’ll always get what you’ve always gotten. In other words, it’s time to change the way you think so you can get different results.
We want you to pay attention to the way you do things for the next few days. When you get out of the shower, we’ll bet you dry off the same way every day. You start with the same place on your body and work your way around the same way. For you guys, we’ll bet you shave the same side of your face first. Girls, you shave your legs and blow-dry your hair the same way each time. We all do. Once this was brought to our attention, we realized we did do things the same way all the time. We’re going to work on changing your daily routine. It will take some effort on your part, but it will be well worth it. We want you to begin with baby steps and work your way up.
Let’s start by changing your morning routine.
- Shave a different way.
- Wear a new color of lipstick (optional for men).
- Get dressed differently.
- Wear a bright shirt.
- Try a new hairstyle (hard to do for those of you still wearing 80’s hair).
- Buy a tie that is out of character.
- Eat something different for breakfast.
- Drive to work using an alternate route.
- Buy your morning coffee some place new.
- Get gas at a different station.
- Listen to motivational radio today.
- Change your lunch habits.
- If you work in a situation with coworkers, sit with someone new today at lunch. You aren’t in high school anymore so it is okay to sit at a different table.
- Make a new friend.
Let’s break up your evening routine:
- Start attending REIA meetings.
- Talk to people in the elevator. (“Talk to people in the elevator? No way! You can’t expect me to do that. Everyone knows you just stand there in silence.”) Folks, it’s all about getting out of your comfort zone. How do you expect to talk to homeowners in distress if you can’t talk to someone in an elevator for 30 seconds?
- Make conversation with total strangers.
- Ask folks how their day is going.
- Open the door for others. (Girls, this means you, too.)
- Pay for a bottle of soda for the person in line behind you.
- Pay the toll on the freeway for the car behind you.
- Carry groceries to the car for an older person. (But Dwan and Bill, I hate to carry my own groceries.)
- Start by doing random acts of kindness.
You’ll be surprised how much more fun life will be. We are always looking for a new victim to be nice to. People just stare and say thanks. They walk away shaking their heads wondering what just happened.
Let’s look at your drive-time routine:
- When in your car, change what you listen to on the radio. Your car should be a university on wheels.
Once we realized how much time we spend in our cars, we realized we could change our lives just by changing what we listen to. We listen to motivational CD’s, Christian music, talk shows, brainstorm, and more. We have expanded our horizons dramatically by changing our listening habits.
Once you understand the concept of real estate investing, learn other aspects of it. Listen to our short sale, negotiating, building a business, rental CD’s and more. We offer a complete line of home study courses as well as boot camps. Wholesaling is a great way to make money, but you also have to consider long-term wealth. The best way to accumulate long-term wealth is to keep rentals. Start thinking about your future now.
“Your car should be a university on wheels.”
Let’s examine your weekend routine? How many of you slouch around all weekend wearing baggy clothes, don’t shave or wear makeup, eat junk food, watch TV all day, and basically waste the weekend away? Come on… be honest. You know you do. Do something different this weekend. Go to a movie, go rollerblading, take an art class, take dance lessons, read a book, call a friend you lost touch with, or anything that would be different.
You might be one of those people who can’t relax and run around all weekend like a crazy person. You need to get a massage, sleep in, read the entire paper, or whatever is different for you.
“Do something different this weekend.”
When we teach classes, we notice that folks will sit in the same seats each day. In our five-day classes, we make everyone move every day. You should hear the moaning and groaning the second day when we make everyone change seats. In just one day, people are in their “comfort zone.” They have laid claim to their “seat” and it’s theirs for the week. Come on folks … it’s time to move the boundaries of your comfort zone. By the third day, people just move automatically. The fear of sitting next to someone new and having to talk is gone.
Folks, what can you do to get out of your box? We want you to think for a few minutes and pick the top five things you can change about yourself starting today. Write them down and keep track. Once you have changed these five things, pick five more and so on. Soon, you won’t have a box to get out of.
You’ll be more open to new opportunities, make friends everywhere you go, and you’ll enjoy life even more than you do today.
Five things I can do to get out of my box:
Place this list where you will read it every day. Again, these are not goals, but simply ways to get your mind working in a different direction. We are going to discuss goals soon. This is where you will really need to put on your thinking cap. Goals are important. You cannot reach financial freedom without them. As you continue to read, begin thinking about goals and what you hope to achieve from this program.
We are going to introduce you to the:
Top 7 Real Estate Investing Strategies for Today’s NEW Market
- Finding Deals
- Short Sales
- Government Guaranteed Rentals
- Rehabbing For Riches