The Work - A Powerful Way to Investigate Your Beliefs
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I am going through a tape program called "Loving What Is", by Byron Katie. If you don't recognize the name, she was one of the teachers on The Secret.
Why am I writing about beliefs? Well, your beliefs about who you are, what is appropriate, what is possible for you, etc. will control your destiny as a real estate investor. For example, your self-image when it comes to income will control your results like a thermostat. If your comfort zone is $50,000 per year, you will believe that is what you are worth. So... continue reading >>
You won't make any money unless you make offers
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One of my goals is to buy a certain number of properties each month. The total number is important, what's important is that I have the goal, and take the actions that support that goal. But however you slice it, I won't buy any house in which I've not made an offer.
The bottom line is that if you don't make offers as a real estate investor, you don't make any money.
Sometimes I'll get "busy", and it might turn into Wednesday (like, for instance, today), and I haven't made any offers yet. Sure,... continue reading >>
How much money do you make while you're sleeping?
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When you invest in cash flow properties, the name of the game is passive income. The money you make without working. The money that comes in as a result of the business system you have created.
Passive income is thing of beauty. You know, I can make more cash flipping properties. But the income from flipping houses is inconsistent. Once I have the income stream from a cash flow property established, it just keeps producing like an oil well that doesn't go dry.
I flip quite a few of the properties I... continue reading >>
Using Your IRA to Invest in Real Estate
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Here is a post I put up on my blog today:
One of our Wealth School participants told me that she had some money in her IRA that she would like to use for her real estate investing so that she could use some of the cash flow now.
In his article "Self-Directed IRA Investing: Invest to Protect Your Retirement" , IFAZ blogger points out that self directing your IRA funds can make a lot of sense given the current market conditions. After all, many have watched their IRAs loose 50% or more of their value.... continue reading >>
Tracking Down Owners of Abandon Properties
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Do you ever see overgrown properties with, perhaps, boarded up windows? Have you ever thought that there might just be a incredible bargain to be had with a property like this? I have bought some great deals this way.Recently a student of wealth school asked about how to track down the owner of house overgrown by tall grass. It looked like noone had lived in the house for years. The kicker was that it was actually in a fairly nice neighborhood. It was by far the dog of the block. These are... continue reading >>