April Real Estate Investing Tips, Issue #016

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It's been a very busy month since the last newsletter. Pennsylvania, Orlando twice, LA, Seattle, Morristown, New Jersey. I attended two seminars this month as a participant. The first was a 5-day intensive program called the 'Gueriila Business School' put on by Peak Potentials and the second was a three day intensive course, called the 'Leap of Faith' created by Dr. Jeff Alexander at www.WarriorSpirit.org.

Both were excellent programs. On the business front, GBS provided exceptional speakers and we all left the event with a clear template for taking action in each of our lives and putting the information to work immediately.

'Leap of Faith' is a three day created by Dr. Jeff Alexander - originally designed to help police officers maintain focus during combat situations. Jeff is paid his way through dental school as a professional boxer and holds three black belts. Kind of a weird combo, the fighting dentist who walks a spiritual path. What a guy.

Leap of Faith has evolved into a practical and metaphysical training that enables the participant to learn how to directly deal with their own fears.

Personally, it worked for me and found it very meaningful. Fear is such a funny animal, I think it is the biggest limiting factor in most of our personal lives - and the one that we can do the most about fixing with the correct direction and guidance because most of it is created in our own heads.

I walked away from that course with a completely different perspective on fear.

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Topics This Issue:

- Deal of the Month
- Financial Intelligence Tips
- Recommended Reading
- Real estate investing network

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Deal Of The Month:

Just this week, we opened an escrow on the purchase of five properties in the midwest. This deal includes many of the features of the classic components of what the real estate investing gurus teach. While I'm not at liberty to disclose specific details, I will discuss it in general terms.

The Properties

The associates are taking title to the five properties (a 4 plex, 2 duplexes and 2 triplexes) in limited partnerships utilizing real estate purchase contracts.

Financing

The financing includes a combination of:

1) subject-to
2) owner carried financing
3) and private money

The deal passed David Lindahl's apartment analysis - which is a pretty stringent test - with flying colors. It includes the following requirements to qualify it:

The deal provides a positive cash flow after:

1) servicing all of the debt
2) allowing for 8% gross management fee
3) 10% vacancy allowance
4) 10% for maintenance

The limited partners will have none of their own cash in the deal when it is completed. In addition, each will get a commission at closing for their particular area of responsibility and real estate expertise with regards to this transaction. There will also be operating money in the bank.

The properties are turnkey with existing long term tenants and have been well managed over 8 years.

The way I located this deal is strictly through my internet marketing efforts that have been evolving over the last four years. There was absolutely no strife or struggle involved and the whole project flowed easily and gracefully.

In addition, I feel blessed because my associates are such high powered people, with values that match my own and a lot of integrity. In a sense it feels like I am being rewarded for the effort and diligence of the past with such fine people to work and interact with.

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Financial Intelligence Tips

Over the course of the last month, it has been my pleasure to meet some amazing people, make new friends and get advice from some of the sharpest financial minds in both the personal development field and business.

Several stand out, but for discussion here let me talk about one in particular.

Bill Bartmann is quite a guy. His bio is very diverse. He ran away from home at an early age and joined a carnival. He wandered the streets as a homeless teenager, eating out of dumpsters, joined a street gang and learned how to survive. As Bill puts it, he is an expert on failure.

Today, he owns a multi billion dollar company - with 4000 employees, a $25M personal jet and lives in a 12 square foot home.

He said something profound that really struck home to me, "The difference between people who are wealthy and those who are not is 'self-esteem'."

It occurred to me that a guy who grew up on the streets and survived and became a billionaire must know what he is talking about. Any man who makes $500,000 a day must know something about money. I decided at that point that 'self-esteem' is my life assignment for the foreseeable short term future.

The thing that most impressed me about Bill Bartmann is a combination of both dignity and compassion. As I watched him look into people's eyes (that stood in line to get his book autographed), I saw a genuine warmth. His kindness and understanding about things are in life and his lack of judgment about 'the little guy' touched and encouraged everyone he met. He will never forget how tough he had it before he succeeded and he genuinely cares about people and wants them to succeed too.

As a mentor, via seminar or his books, I highly recommend his work and his mission to help people.

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Recommended Reading:

The Millionaire Maker by Loral Langemeier

This is a great book because it is clear and creates templates that anyone can use to create income streams. Loral shows people how to put assets to work and she focuses a lot on real estate and entity structuring. I know a number of people who are working directly with Loral as a mentor and becoming very successful as a result. I met her last December at 'Wealth and Wisdom,' in Costa Mesa, CA.

The book is a good read is a conversational style by a very smart lady who gets things done.

Billionaire Secrets to Success by Bill Bartmann. Having met Bill last month, I have put this on my list. It is a priiority read for me but I have 40 books on my list for this year. I'll get back to you on this one.

The Automatic Millionaire, by David Bach.

This is a quick read and offers very simple and practical tips on getting started making your money work for you and creating new habits that work. Not a literary work, but a great message and a valid practical approach to initiating the wealth process.

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Internet Marketing Leads

I get a lot of opportunities to buy houses around the country directly from my websites.

I'm looking for sharp investors who are interested in forming joint ventures and being part of a network where we can all benefit financially.

We are looking for people with similar values to our who enjoy helping people and who take care of business once they make a commitment.

We have a number of programs in the planning stages and we are looking for good people to join us so that we can offer superlative service for sellers who need results.

If this sounds interesting, please let us know. Send us an email describing where you are and how you envision interacting with us.

Maybe we can do some stuff together.

That's it for this time...

Regards,

Michael Barrett

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