Each eNewsletter Is PACKED With -Success secrets of professional investors
-Money-making investment strategies
-Unique insights on wealth-building
-Powerful self-improvement resources
Yes! Please rush me the monthly Intellectual Capital Report today!
What will I accomplish this year? How much money will I make? How many deals will I do? Will this year be better than last year? These are all valid questions to ask our selves and worthy of consideration. I’m always asking questions; questions of sellers, buyers, lenders, contractors, tenants, students, and myself.
There was a time I actually feared asking questions because I had a big fat ego. I was afraid that people would get the idea I didn’t know everything and therefore be less credible. Thankfully, I learned a more correct way of thinking. Asking questions creates a learning opportunity and most people are generally willing to respond if you are polite and respectful of their time. As time wore on I discovered that it wasn’t just a matter of asking questions that elicited the knowledge or information I was seeking, it was asking the right questions. Better questions generate better information. Here are a few examples:
Early on, I used to ask sellers, “What’s the least you’ll take for your property” because that’s what the gurus taught. While it’s not a bad question, I think there are better ones. One is, “What’s the least you’d be willing to take for your equity?” Its a better question because it improves the dialogue and positions you for a “subject to” transaction. For those unfamiliar, a “Subject To” transaction is one in which you use the existing financing to acquire the property by taking over the payments rather than going out and getting a new loan.
When I work with private lenders today, I ask questions about their financial goals and objectives rather than, “do you have any money to lend?” This allows me to establish long-term relationships rather than one shot deals. It also helps me negotiate better terms that mitigate risk for both parties. I find it works much better for both of us.
Learning to ask better questions will get you the information you need and will also get you on the right path. I’ll leave you with two of my favorites that may help you as you prepare for the year ahead. They are simple yet challenging. First, “What do you really want?” followed by “How will you know when I’ve got it?” These two questions always drive me to examine where I am, where I want to go and how I will get there. They haven’t failed me yet. I hope they serve you as well.
So where are the answers? They’re in the questions themselves!
I’ve received a few emails, and YES, I am currently accepting PACT Coaching Applications! The 2010 session begins in early January, and spots are available on a first-come, first-serve basis. If you’re ready to have a supernatural year and jump-start your real estate investing business, I strongly encourage you to visit the link below to receive your application today.
I look forward to seeing you on the other side! (If you have any questions, check out the link above. There’s a short video explaining the program on that page.) To your success!
This video clip is from the movie Facing Giants. Its a powerful story and this clip is not only inspirational, it is a metaphor for the life of the investor. Many real estate investors, especially newbies, get tired, frustrated and give up. It can be confusing without a roadmap, a set of goals, a plan of attack and a source of guidance. I think of some of the coaches from my youth and the significant impact they had on me. They helped me achieve more than I ever thought possible. Then there were the coaches and mentors throughout my business career where I learned the ropes and was able to excel with their helpful support. When you have a coach that believes in you and cares about your success, they will guide you, encourage you, push you to achieve more than you ever thought you could.
A real estate coach should bring a wealth of experience and help you develop you goals and a plan to achieve them. They should help you build a team and set up business systems. Even for experienced investors a good coach can help define and implement eit strategies for existing portfolios. One of the greatest benefits a coach can provide is to help the student understand when a deal is a deal and when it isn’t. If you want to take your business to the next level then I encourage you to check out the PACT Program. PACT stands for Peronal Action Coaching Tracks. For information visit the link at the top of this page or send me an email to Augie@CreatingWealthUSA.com
2010 Could be your best year ever! To win an awesome prize package worth over $13,000 all you have to do is answer a single question. “Why do you believe the PACT program is the best choice for you to achieve real estate investing success?”
The entry judged best will be our VIP student and will receive a full six month Personal Action Coaching scholarship (a $9,000 value) , a ticket to the Marshall Sylver Turning Point seminar (a $2,000 value) and a complete set of my Creating Wealth USA, home study programs (a $2000 value).
In addition, there will be runner up prizes and some fun surprises that will only be available to contest entrants.
There is only one rule…absolutely NO sob stories.
All entries must arrive in the form of an email or video response where you’ll explain in a clear, direct and moving presentation the answer to the contest question. It must be on point and relative to your aspirations and the benefits you will get out of PACT to make it all a reality.
Entries can be posted at http://www.facebook.com/PACTProsperity or emailed to Augie@CreatingWealthUSA.com. All entries must be received by midnight November 15, 2009.
Put on your thinking caps and do your best. We’d love to see you in January 2010 as a student in PACT. Good luck!
Don’t have a lot of cash to work with? Not sure about a property’s value? Real Estate Options might be just the technique you’re looking for. While there are many creative real estate investing techniques you can employ, options are one to keep in your tool kit! Options give you control with out ownership and can be a powerful money making technique. I love them because they provide me safety, an opportunity to help the seller and a handsome profit.
An option allows us to purchase a set of rights including purchase price, time to close, and terms of the sale. Once you have the option you have two choices; close on the property or simply sell your rights in the option for an immediate profit. That’s right you can sell your option to another party (as long as it isn’t a non-assignable option). Imagine no payments, no holding costs, no maintenance or insurance costs and yet you can still choose to profit even before you close. The key with options is control without ownership.
