Real Estate Recession Riches - Top 10 Real Estate Investing Tips That Don't Suck! , livre ebook

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72 pages

English

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Description

Allow me to share my story with you.

My name is Cory Boatright. I am 35 years old and since my early twenties I have started, run, or been directly involved with almost 40 different companies.

I have sold everything from Ginsu knives on eBay, Kirby vacuum cleaners door-to-door, all the way to $50,000 high-end electronics Online.

Out of the forty-something companies only TWO of them ever proved to be worthwhile endeavors. The other thirty-eight I decided to call "business therapy".

Interestingly enough, both of the successful companies harnessed the power of the Internet to make their profits. After bringing in almost 4 million dollars in sales from my first start-up. I sold it and directed my passion to the world of real estate investing.

Why real estate?

Well, most of my affluent customers in my first business owned real estate so I knew there was something to be learned in that industry. I was a complete novice to it And...oh...by the way before I forget...did I mention that I didn't even graduate from high school? Apparently my drive to succeed coupled with my persistence to not fail clouded my judgment of the value of a formal education. So instead, I settled for a G.E.D.

I'm not looking for any pity-party. I just mentioned this to demonstrate that if a highschool dropout can make it, the doors are open for just about anyone else to do it too.

Now fast forward a bit into my real estate experiences. I started out being a "bird dog" which means I was out finding good deals on properties and getting paid a finders fee for it. That fee was usually $500 – $1,500. After I learned how much money the investor was making selling the houses I was bringing him, I quickly learned how to assign, wholesale and flip distressed properties.

That brought in checks anywhere from $3,000 – $10,000. Not bad, but I had a hunch those properties were worth a lot more after they were fixed up.

So I decided to put together a "skeleton" rehab crew and thought I would make $15,000 – $30,000 per deal, but I was sadly mistaken.

My rehab attempts ended up being more of a mirage instead of a real profit center. My $30,000 paydays actually came out to be more around $17,500 after considering all the contractor frustrations, material costs, labor, marketing, selling and other holding costs.

Needless to say I had more fun assigning contracts.

It wasn't until around 2004 that I stumbled my way through a short sale and I made over $30,000 on that deal!

That was the most money that I had ever made on one single real estate transaction.

I couldn't believe the lender would accept less than what was owed for a payoff.

I was immediately hooked and quickly learned everything possible about the short sale process. The more I learned about Short Sales, the more I was asked by other investors to partner on deals.

I quickly became known as the local "go-to" guy for doing short sales. Other investors continually asked me how they too could learn to do what I was doing. So after being asked by numerous fellow investors to teach and coach them on the subject, I decided to "dive in head first" and write my first information product/home study course.

What I discovered in real estate investing was something I never expected. Not only was the short sale niche secretive, but the entire industry. And the "real truth" was shared only amongst a small, tight knit group of investors, but not anymore.

I've cornered the "top dogs" in their niche of real estate investing and forced them to talk. When you finish reading "Real Estate Recession Riches" you are going to be smarter and wiser newbie or advanced real estate investor. Period.

Remember... be a servant,

Cory Boatright

Cory Boatright is a flat out genius. Listen to him and take notes.
- Tim Mai Co-author of the NYT Best Seller "The One Minute Millionaire"

Sujets

Real Estate

Employabilité, métiers et formations

Economics

Business

Informations

Publié par	eBookIt.com
Date de parution	21 février 2013
Nombre de lectures	1
EAN13	9781456606947
Langue	English

Informations légales : prix de location à la page 0,0500€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

Extrait

Editor: Rodney T. Miller

Publisher: Rodney T. Miller

Cover Design: Dan Yeager-Nu-Image Design

Proof Editor: Lucy Spencer

Concept Editors: Rodney Miller, Robert Elder, Jason Simpson, Allen Moore, Frank Aufiero, Cory Boatright, Brian Nix, Jack Werner, Tony Tyler, Nancy Rieg

© Miller Publishing Group

All Rights reserved. Reproduction or translation of any part of this work beyond that permitted by section 107 or 108 of the 1976 United States Copyright Act without permission of the copyright owner is unlawful. Requests for permission or further information should be addressed to:

Miller Publishing Group
820 NW 13th Street
Oklahoma City, Oklahoma 73106

Published in eBook format by eBookIt.com
http://www.eBookIt.com

ISBN-13: 978-1-4566-0694-7

Disclaimer
This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher and authors is not engaged in rendering legal, accounting, or other professional services. If legal advice or other expert assistance is required, the services of a competent professional should be sought. The content of each article is the sole expression and opinion of its author, and not that necessarily of the publisher. No warranties or guarantees are expressed or implied by the publisher’s choice to include any of the content in this volume. Neither the publisher nor the individual author(s) shall be liable for any physical, psychological, emotional, financial, or commercial damages, including but not limited to special, incidental, consequential or other damages.

INTRODUCTION

If you’re reading this book, it’s safe to say that you are thinking about learning to invest in real estate. Maybe you’re disappointed in what your current investments are doing. The stock market is making a lot of people nervous lately, and that isn’t doing anyone’s retirement account any favors. Maybe you’re looking for a new career, and you heard this might be an exciting way to make loads of money. Maybe you’re not sure why you’re interested, but someone said that you should find out what investing in real estate can do for you.
I get questions all the time from people who want to know how I did it. Then they want to know how THEY can do this - they want to know which area or investment niche they should focus on, and they really want to know how to fit all this into their current lifestyle. I can tell you not only MY story, but I found nine other colleagues who were willing to share THEIR stories to help you get started.
You’ll find it all here - inspiration, focus, goal-setting, brainstorming, motivation - everything you need to begin the next great phase of your life. You’ll find out how to know which investment style or strategy suits your personality, your goals, and the lifestyle you hope to have as a real estate investor. You’ll learn what it takes to make your ideal strategy work for you. By the end of the book, you will hopefully be able to see yourself as not just a successful investor, but a successful person.
Real estate can provide you with a lifestyle and freedom beyond your wildest dreams. The only thing holding you back is really you ! You have the power to change your preconceived notions of why this wouldn’t work for you. You have the power to overcome your own self-limiting beliefs. And only you have the power to allow the information in this book to make a difference in your life. Most of the experts in this book started with little or nothing but the courage to take that first leap, and they have accumulated wealth, success, and freedom from a J-O-B.
Go ahead. Read on, and learn how you can make all this a part of your life, too. It may be the most life-changing decision you ever make!

JASON SIMPSON

JASON SIMPSON has been investing in real estate for over 10 years, and has successfully mastered a number of techniques including Wholesaling, “Subject To“, Short Sales, Lease Options, Buy and Hold, and numerous other strategies. Jason has been a board member of his local Real Estate Investors Association for over 5 years.

After a challenging ordeal not related to real estate, Jason was forced to declare bankruptcy just over three years ago. After bankruptcy, Jason became an expert in dealing with lenders to purchase homes using none of his own cash or credit, quickly building his net worth into the hundreds of thousands. He is fast approaching millionaire status, all while working full time as a police officer. Jason helps others to learn how to invest in real estate, and has a burning desire to continue helping others that have faced similar situations. He has created a step-by-step formula to do this regardless of one’s cash flow, credit history, or time schedule.
In his spare time, Jason enjoys spending time with his wife, Tracy, and their two boys, Preston & Logan. He also enjoys sailing in the British Virgin Islands, international travel, magic, and helping others achieve their goals and dreams through real estate investing.
Jason is currently offering his free “12-Part Mini E-Course on Real Estate Investing” to help people get started. The course can be found on his website at www.StreetCopMillionaire.com . Jason has also written an e-book on wholesaling properties, as well as a comprehensive course that covers Wholesaling, Obtaining the Money, and Buying & Holding!

If you have any questions for Jason, you can contact him at:

Street Cop Millionaire
P.O. Box 722194
Norman, OK 73070
Jason@StreetCopMillionaire.com

CHAPTER ONE

HOW A FULL-TIME COP IS MAKING A KILLING INVESTING IN REAL ESTATE…PART-TIME

While it is pretty evident that investing in real estate is a great way to go, I’m sure that a lot of you are wondering how to manage trying to build a successful real estate business while having a full-time career. Well, I’ve got a bit of experience in that, and hopefully in these next few pages, I can give you some ideas that will convince you that you can do this, too.
You might be in a different situation than I am. You may work more hours. You may have other things that you have to deal with. Whatever your situation is, you can work through it. That’s the key. Now, let me just give you an idea where I’m coming from, and how I’m managing things.
First, I work full time as a police officer, and will at least until I’m vested, which will occur at my 10-year mark (October 2009). I work over 40 hours a week - well, 41.25 hours per week, not counting any overtime on calls that I might get. When I started investing in real estate, I worked part-time jobs on my days off. I worked at a bank, at a school, and at numerous other part-time “gigs”. (You’ll find that most police officers have part-time jobs to supplement their income.) My wife and I had made the decision that once we had kids, Tracy would stay home to raise them. We now have two wonderful boys and we stood by our decisions, although at first we were pretty financially strapped and had very little free time.
Since we began investing in real estate, I no longer have to work any extra jobs at the Police Department to make ends meet. Of course, real estate has taken the place of those extra jobs, but investing pays a lot better, which is why I began doing this. Investing in real estate is coming close to providing me with enough cash flow to decide if, when, and how much I want to work (it’s pretty hard for me to consider my investing real work) and to spend time with my family.
Enough of my background. Let’s move on. I’ll tell you how I accomplished it, and I’ll give you some tips on how you can do the same.
What I love about real estate is that you can fit your work into little bits of time - if you do it correctly! Now, if you decide to start off with a huge rehab job with no education or experience, it will end up biting you in the end. That’s absolutely the last project I would advise you to start, both in terms of risk and time.
EDUCATE YOURSELF
First, you’re definitely going to need to get some education. While I love investing and have tons of courses and training material, the biggest mistake I could make would be to think that I know all there is to know about investing. I suggest you make it a point to enjoy learning, because it will pay you massive dividends.
Now, most cops listen to the radio when they are driving around on patrol. Instead of that, I turned a disadvantage into a huge advantage and put all of my courses on my iPod and spent eight hours a day listening to information that would grow my mindset. Although I don’t imagine that most of you have eight hours a day to listen to educational stuff - and I’ll be honest, there were some days when the last thing I could listen to was something about real estate - I would recommend that, whenever you’re driving around, you listen to something that will help to educate you or propel you toward your goals as opposed to music day in and day out. This is a huge key to success!
If you have limited time, you have to make it a point to make the most of the time that you do have. Even if you’re only driving to work for 10 to 20 minutes a day, you also have 10 to 20 minute to drive back, so you have 20 to 40 minutes a day to educate yourself. If you have errands that you have to run, that could grow your listening time even more.
Let’s add it up: 20 minutes x 5 days (a typical work week) = 100 minutes x 50 weeks = 5000 minutes, or over 83 hours per year! If your travel time is longer than that, you’ve just bumped it up even more! Little bits of time add up immensely! Think about moments when you are wasting your time and find a way to use them to bring you closer to where you want to be. Do you have any books in the bathroom? Why not?
FIND THE TIME
Your next step is to leverage your time. I don’t know your exact situation, so I’ll just imagine that you’re star