2007 is already proving itself to be a remarkable year! I started this year off with my first venture into real estate investing and it's going great.
A couple of things about real estate. First, it's WAY harder than my current home-based business. My LLI business is very simple...place some ads, call people back, show them the information and collect the checks. Easy. With real estate, there's so much to know, so much to do, a ton of coordinating, lots of risk and it requires people to really love it.
So, why am I even endeavoring into real estate? The reality is at 32 I've generated millions of dollars and had lots of fun. I've travelled all over the world - first class, bought the cars I wanted (Bentleys, Masaratis, Range Rovers, Lexus....), live in a gorgeous multi-million dollar home and have all the goodies I could possible want. Now it's time to put my money to work...to build a massive fortune for myself.
If someone asked me to describe myself, I'd say I'm a "doer". I focus my eyes on something and then go full out after it. So, I decided real estate was going to be an avenue for me to duplicate my wealth and leverage the income that flows in from my LLI business. I've made over a million in my personal real estate holdings, now it's time to duplicate that in investments.
So, my I closed on my first property on December 29th. It was a great deal. The woman needed out so her priority was time, I wanted price which she conceeded to and we went from offer to close in 2 weeks...quite remarkable! That is the power of intention. I've owned the property for one week, have it fully furnished and already have it rented to vacationers for the months of February and March.
Lots of people have warned me about real estate. Some people told me that vacation rentals are hard to do...you have to find customers, deal with them, etc. etc. My mortgage broker - Karen Fisher with Nova Financial - told me it's a great way to make money on real estate. I followed her advice and my real estate mentors advice and proceeded forward. I placed two online ads, created a website www.luxurytucsonrentals.com and put a flyer in my gym. The flyer produced one renter and the online ad produced the other...simple as that.
It's all in intention. I think many people fail in real estate because they don't have the intention of winning. They aren't coachable, they listen to the wrong people and they let fear get the best of them. I'm winning with it because I did exactly the opposite...I moved forward through the fear, sought council with experienced people and am staying coachable.
Through this whole experience it has given me incredible gratitude for LLI. Just a couple of hours a day has produced incredible income. Doing this real estate deal was hard work...I haven't worked this hard in years!
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