I wanted to revise this from the guy I learned from and still do to this day Eric Medemar look him up here on the forums he’s genius… this was written Oct,26,2006 from one of the topics long ago…
How to Make money with no credit
How to Make money with no money
Wholesaling the easy way
Shop for buyers before you shop for houses.
Find buyers, then find deals, then bring them together using your buyers money.
Ive done it, My buyers have done it, anybody can do it.
It is honestly that easy
DO NOT COMPLICATE IT,
There is no reason to “Get Ready to Get Ready” or spend countless hours in “analysis paralysis”.
I talk to hundreds of investors every year who:
Have been thinking about investing
Have been reading about investing
Have a friend who had done well investing (The elusive friend)
Are saving for a down payment
Waiting for rates to go down
Waiting to finish their real estate course
Waiting for their mentor to tell them to buy
Waiting for summer (insert any season)
Waiting for the market to straighten out
Waiting till they can afford it
Waiting till they get a promotion
Waiting till their friend or relative can partner with them
Trying to read just one more book
Waiting till they buy their own house
Waiting till they get a raise
Waiting to graduate from college
Waiting till their friend or family member becomes a realtor
Waiting to be married
Waiting till they contribute their maximum to a 401k
Waiting till they get done working on their own home
Then after giving me their excuse for waiting they ask
What happens if the toilet gets clogged?
What happens if the furnace gos bad?
What happens if tenant ruins the house?
What happens if the roof leaks?
What happens if the tenant doesnt pay?
What happens if someone breaks a window?
What happens if someone leaves a broken down car at the house?
If they dont have the question, they usually tell me about a friend or relative who had one of the above happen.
The questions that they SHOULD be asking but NEVER do
What happens if I dont start investing now?
How many homes do I need to buy in order to retire comfortably?
If you could share with me your best idea, what would it be?
What kind of money am I leaving on the table by not investing?
How does the stock market compare to real estate? (that doesnt even deserve an answer)
How can I use real estate to make my dreams come true?
What would I do with an extra $500 or even $5,000 a month in cashflow?
How will my family react when I retire 10-20 years earlier?
What are my broke friends going to think when I show up in my Porsche?
99% of people share this problem:
If a family member or friend needed $500, most people would need a ton of convincing to loan it to them, and if it wasnt repaid it would surely be a BIG problem, some people would even lose friend over such a small amount of money.
But that same person could care less about the $500-$10,000 a month that they will lose each and every month for the rest of their life by not investing in real estate.
Oppurtunity cost nobody pays attention to it.
I used to be a tight a##, then one day I got to thinking.
What if instead of worrying about ways to save money, I started just focusing on ways to make it?
That simple question changed my whole life.
Eric Medemar