Posts Tagged ‘real life event’

An Investing Idea

November 15, 2016

I have a goal to own rental properties. Might be a good fit for me considering the business I am in. As a bonus I get to see many different business models for investing in housing. The other day I heard of one that I have not seen before.

I participate in a coaching program that offers more than just sales advice. We believe in a well rounded life that includes growth in 5 different areas. Spiritual, family, business, financial and personal are the 5 Circles we intertwine and balance. The founder of the company not only tells it like it is, he practices what he preaches. During the recession he liquidated $30,000,000 that’s 30 Million in real estate holdings to keep his business alive. He had one commercial building he left empty for a year. He was able to do this using an investment system that helped him succeed. Hmmm, he has captured my interest again.

So how’d he do it you say? I’ll tell ya. He would buy a property and hold it. He would not buy another property until he owed less than half on the property. Less than half! What about leverage, what about the great deal sitting in front of you. Nope he said, just wouldn’t do it no matter how badly it fried his backside. Considering he did not lose everything like others did I have to consider what he says quite seriously.

I am reminded of a call I received on day as the recession was beginning. The buyer wanted to buy million dollar properties for $500,000. I laughed and then asked why I would not buy them myself for that price. He said I could not buy them all. I loved that response. I can’t possibly buy every deal that comes to me. I only wish I could. There will always be another opportunity. So perhaps the 50% idea is not that farfetched as it sounds.

Some investors use a cash only model, some use the 20% down, some use 20% down that they borrow and many other models. I would prefer to be an all cash investor. Perhaps 20% down and then wait and be patient might be better. Hmm time to think. All the Best Richie Rich

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The Torch Is Passed

August 4, 2016

I lost a good friend and mentor last week. As I buried my friend I thought, man look at all the people here, such a blessing. She wasn’t a well known public person, Head of State kind of person. She was like most of us, a person. A Mom, wife, sister, friend and neighbor. I remember praying that when I go I hope there are this many caring people at my funeral. Then I prayed that I would be like her and her husband, altruistic, honestly good caring people.
As I write this article I think to myself how I am getting to be more and more like them and other great mentors I have in my life. I also recognize how my bride and I are becoming mentors ourselves. It makes me smile in my heart. “Imitation is the sincerest form of flattery.” – Charles Caleb Colton. I believe that as I imitate the mentors I have had it keeps the torch lit and it is passed on to me from them. How lucky am I.
So now I ask you my dear readers, are you being a mentor? Do you need to find a mentor? Let me tell you where the mentors are not. Social media for certain will not produce mentors. Social media allows quick limited communication amongst people. So where do we find them Rich? Great question.
To find a mentor or be one let’s look at the definition: someone who teaches or gives help and advice to a less experienced and often younger person, a trusted counselor or guide. The big words there are teaches or gives help, advice to a less experienced one. Most of us a can give advice however how do we help or teach. Do we give someone a chance, perhaps, how about we do all three, teach, help and advise by example? Invite them into your life. Let them see how you live and then keep them there. Take them to lunch, breakfast or invite them to your family BBQ. Suggest they stretch to a higher position and then support them as they try. The most expensive gift we have is our time. Some will cherish it and rise up. Some will not and move on. Either way we are better for having them in our lives. Especially when they succeed. So keep the torch lit and help pass it on. All the Best Rich


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