Warning-Attorney-General-Warns-CREIs

A message from Brian Gibbons:
This is one of the MOST IMPORTANT articles regarding new laws in the USA. It is an ATTITUDE SHIFT in the Attorney General’s Office of 3 states: NC, MD and TX.

And possibly FL in the near future.

You have a business plan to find Motivated Sellers and make win-win offers. This article discusses what might be changing to stop you, the CREI, from doing certain things.

You have a business plan to find Tenant Buyers with credit problems and offer Lease Options and Contract for Deeds (CFDs) Changes in CFDs and Lease Options are happening also.

Any comments regarding this “attidude shift” with the Attorney General’s Office of these 3 states can be sent to my desk at brian@creiu.com

And don’t worry; we are on top of these proposed and actual changes, and we are ready to bring strong strategies to benefit any CREI Market.

Wishing you all the best,
Brian Gibbons
http://www.creiu.com/
brian@creiu.com
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A Review of the NCLC's "Dreams Foreclosed" Reportby Attorney William Bronchick

The National Consumer Law Center recently published a report called “Dreams Foreclosed - The Rampant Theft of Americans’ Homes Through Equity-Stripping Foreclosure ‘Rescue’ Scams”. It is being paraded around the media as an objective study of the foreclosure market and all the bad people who are taking advantage of homeowners. In the vein of a Michael Moore documentary, it is a poorly researched, one-sided editorial piece designed to push someone's agenda.

So who is the National Consumer Law Center and what exactly is their agenda? Here’s how they describe themselves:

“The National Consumer Law Center (NCLC) is the nation’s consumer law expert, helping consumers, their advocates, and public policy makers use powerful and complex consumer laws on behalf of low-income and vulnerable Americans seeking economic justice.”

That description paints a pretty picture, but their political leanings are quite obvious if you read between the lines. They take funding from radical left-wing billionaire George Soros to help illegal aliens continue to live illegally in the U.S. They also virulently fought the new Bankruptcy Reform law that stops deadbeats from abusing the bankruptcy system. Like many far-left organizations, they believe that corporate America is evil and the "little guy" is always innocent.

Now, if you are left-of-center politically, please don’t miss the point here - I’m not criticizing liberals. The NCLC is entitled to their opinion, so long as they make it clear that their "research papers" are just that - someone's opinion. It is academically dishonest to call a paper an “objective study” when the group sponsoring the study has a particular agenda the skews the conclusions. It would be like asking Rush Limbaugh to do an objective documentary on the Clintons.

New Laws Don't Always Help, They Sometimes Hurt
By passing new laws designed to "protect" the homeowner in foreclosure, it actually ends up hurting everyone in the long run. For example, a new law was passed in Maryland that requires a waiting period for any transaction involving a person in foreclosure. Similar laws are being considered in other states. Various intricate disclosures, rules and penalties written in these laws make it virtually impossible for a mortgage broker to help fund a new loan in fear of being punished.

Waiting periods do nothing more than SHORTEN the time a homeowner has to solve his problem. If the homeowner in foreclosure is 10 days before the sale date and the law requires a 5-day waiting period, how does this help a deal get closed? The fact is, it hurts the homeowner by preventing a last minute loan or deal from being worked out that might help save the property from foreclosure.

Also, let's not forget that all of these ideas about new laws sound great when the real estate market is hot. When a local economy goes South, more and more people will be looking to dump their homes quickly and will not be able to do so because of these "consumer protection" laws.

The Court of Public Opinion
The NCLC and their friends at the media are playing a political war to sway public opinion about foreclosure investors. Certainly, there are some bad apples in every business, and the foreclosure business is no exception. But, to suggest that the vast majority of real estate investors that buy properties in foreclosure are bad people people is absurd.

Likewise, the media and the NCLC seem to feel that all of the foreclosure sellers are without blame. Everyone in foreclosure has something in common - they stopped paying their loan! Some people are a victim of bad circumstances, had excessive medical bills or ended up in a messy divorce. But, let’s not forget that the vast majority of people in foreclosure are simply financially irresponsible people who lived from paycheck to paycheck.
Furthermore, the NCLC blames the lenders for giving out too much money. Doesn't the borrower who got in over his head and lived beyond his means have any responsibility here? The NCLC and their ilk are the same kind of lawyers who blame McDonalds for obesity, blame the cigarette companies for causing cancer and think class action lawsuits are the way to solve society's problems.

Of course, the NCLC doesn’t see it that way from their skewed political perspective. Here’s how the NCLC report begins:

“In this report you'll read about those who target many thousands of good people, people often under serious stress, and shake all or most of the value out of what’s often their only major asset.”

Shall I get out the violin yet? What about the lenders who are losing money from the borrower who didn’t pay his loan? Let’s not forget that foreclosures cost lenders money, which is passed on to all their other borrowers. Increased costs means less profit for their shareholders, most of which are the pension funds and 401k's of ordinary working people. With Government insured loans, the taxpayer picks up the tab for people who don't pay their debt, live for free, then, with the help of lawyers like the NCLC, file bankruptcy and tie up the property for a year or more. Who's the victim here?

Value... What Value?
An interesting item worth noting again is the NCLC's statement on how investors "shake all or most of the value out of what’s often their only major asset". What value are they talking about here?

From personal experience in a lot of foreclosure transactions as an investor, attorney and manager of an escrow company, I can attest that the vast majority of deals involve a seller who has very little equity, has little emotional interest in his property and has already exhausted all other options, including trying to refinance or list the house for sale with a real estate broker. Most foreclosure sales often happen just before the foreclosure sale date when the homeowner wakes up to reality. So, when the NCLC suggests that an investor is "stealing" a seller's equity, it's a complete misunderstanding of the reality of the marketplace.

For example, let’s say a seller owes $170,000 on a house worth $200,000. The foreclosure sale date is one week away. An investor pays the seller a few thousand bucks for the deed to his property, then resells the property for a profit. The NCLC might scream, “but you’re stealing with $30,000 equity for just a few thousand dollars!” That’s a typical reaction from someone who doesn’t understand how the foreclosure business works.

In most cities, a $200,000 house takes a few months to sell. If the seller is late in the foreclosure process, there’s no time left, so he’d have to price the property around $170,000 or less to move it quickly. So, when someone says, “you’re paying 10 cents on the dollar for the seller’s equity”, that not really true - the seller in foreclosure really has no equity, since the impending sale date forces the seller to liquidate quickly.

In bankruptcy, the courts have routinely ruled that the borrower is only entitled to “reasonably equivalent value” in a foreclosure sale, not market value. These rulings reflect the fact that a property sold in distress is WORTH LESS than a property sold under normal circumstances. To the investor, the foreclosure property has equity, because the investor has the financial means to stop the foreclosure process, whereas the seller does not. The investor makes money because he has the solution the seller does not.

Who's “Taking Advantage” of Who?
The NCLC and the news media often paint the picture that foreclosure investors are “sharks” who take advantage of helpless sellers in bad circumstances. Admittedly, foreclosure investors make a profit here from other people’s bad circumstances - so what? Thousands of businesses make a profit from other people’s problems, including:

• Bankruptcy lawyers


• Class action lawyers


• Divorce lawyers


• Funeral parlors


• Pawn shops


• Doctors & Hospitals

Think about it this way:
if you are bleeding and a doctor stitches up the wound to save your life, is his knowledge and expertise worth money? Or, will someone call that doctor a "thief" if the patient gets a $20,000 bill for the life-saving operation?

The bottom line is that if someone is in foreclosure and about to lose their home, they should do whatever they can - make up back payments, negotiate with their lender, try to refinance or try to sell the home. When all options are exhausted, the only choice may be to sell to an investor cheap or let it go back to the bank. If an investor profits from the transaction, so what?

Of course, there’s another option the NCLC would suggest, as outlined in their various “consumer-law” publications: Hire an attorney to file a series of silly legal challenges to the validity of the bank’s loan disclosures. This will help delay the lender’s foreclosure process for several months. When the court denies all of your frivolous objections, you then file for bankruptcy and stay in the property for free for another six months. When the lender completes the foreclosure, the homeowner can stay a few more months until the lender gets around to evicting the former homeowner. If you really want to squeeze out a few more months of free rent, you file a bunch of technical objections to the lender’s eviction proceeding.

So, instead of an investor profiting from the seller’s equity, we have attorneys and their clients who profit by bilking the lender. The NCLC attorneys call this “protecting the consumer’s rights”. Most people would call it being a “deadbeat”. You see how easy it is to spin the story in the other direction?

New Laws Giving Government More Power?
The problem is, the NCLC's media campaign is actually working. They've got the press parroting the same message and adding wild stories of how innocent homeowners lost their homes to unscrupulous investors. Don't get me wrong, these investors that are being reported are often people who did bad things. Getting a deed to a property under false pretenses is a crime - it's stealing. Investors who lie and mislead sellers in foreclosure give a bad name to everyone and they should be punished.

But, we don't need new laws to punish these bad people, since there are already laws on the books that are applicable (such as "grand larceny"). In addition, the Attorney General of your state already has broad powers under the Consumer Protection Acts to deal with this kind of activity.

And, while we're on that topic, the Attorney Generals of many states are foaming at the mouth and sharpening their axes, too. Both Democrats and Republicans with political aspirations, these Elliot-Spitzer wannabe's are going after foreclosure investors to get a name for themselves. It looks real good on your resume when you run for Senator if you headed up a “special task force.”

But once the smoke clears, reasonable people know that you can't solve all the problems of financially irresponsible people by punishing foreclosure investors. Investors didn't cause the problem, they are just trying to help solve it, and (God forbid) make a buck!

The Whole Truth?
The NCLC report suggests that the vast majority of foreclosure transactions are bad for the homeowner and a result of investors that "prey" on them. What is not reported in the NCLC paper or the news media is that MOST foreclosure deals that blow up are generally the fault of the seller. Many of these sellers knew exactly what they were doing, but got “seller’s remorse” when they saw that someone else was making a profit. In most cases, the seller’s remorse comes about when another investor tells the seller he could have offered more for the property. When the homeowner demands more money and doesn’t get it, he hires an attorney to fight for his rights. The newspaper reporter doesn't tell you that side of the story - instead he interviews the plaintiff's attorney for the whole picture. In fact, this is exactly what the NCLC did in their research. I don’t recall any quotes in the report from the president of any real estate investment groups or authors.

I can tell you from personal experience that there are just as many sellers who lie and do not live up to their promises in foreclosure deals. Sellers often flake out, don't move out when they promise, neglect to tell you about liens on their property, and develop a "convenient" memory about the facts when they find an attorney. In one Colorado Springs case, the homeowner actually demanded his house back because he claimed he was drunk when he signed the papers. Don’t laugh - the news reporter spun it into a sad story about how alcoholism was to blame for the seller's financial problems, and how the investor should be ashamed for trying to get papers signed by a drunk man.

There are a whole lot of happy endings about investors who bought homes from foreclosure sellers who received cash, saved their credit and got on with their lives. If a seller is four payments in arrears, has exhausted all options and is facing foreclosure, he’ll lose everything and his credit will be ruined for a long time. Instead, if he deeds his house to an investor who makes up the back payments and negotiates a deal with the lender, his credit will be improved. And, if the seller gets a few bucks of the deal, he can move on with his life. The lender is thrilled, since the loan is no longer in default.

These stories happen all the time, but unfortunately they don’t make headlines in newspapers.
email your questions or comments to mailto:bronchick@legalwiz.com

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Note: We always refer to Bill Bronchick's site for great legal, tax and marketing info on real estate investing advice. Go to www.legalwhiz.com

The Business Plan That Always Works, Part I - Michael Gerber

The Business Plan That Always Works, Part I - Michael Gerber

Yes, believe it or not, there is such a plan. A business plan that always works.
And believe it or not, you’re going to learn how to create such a plan, your plan, in the next few moments.

Now for those of you who believe deep down in the recesses of your cynically- disposed hearts that there can’t possibly be anything that always works–- especially a plan–the following is going to be a bit of a stretch for you. But hang in with me here.

The Business Plan That Always Works is so devilishly simple and straightforward, you’ll wonder why you didn’t see it before. You see, that’s the beauty of it, this Business Plan That Always Works.
It’s so very simple. And that’s probably the primary reason it always works. The Business Plan That Always Works is so simple that anyone who understands it can do it…which is to say, that if you can’t do a plan easily, there’s no point in planning. Despite what you’ve learned over the years, planning is only hard when it’s done the wrong way. And to do a plan easily requires that you approach the whole subject of planning in a completely different way than you’re accustomed to. But I’m getting ahead of my story.

The Business Plan That Always Works is built upon one Fundamental Principle that all the plans that never work fail to understand.

(When I say "all the plans that never work," I’m referring to the kind of planning you’re accustomed to doing–if you do any planning at all– the kind of planning that doesn’t work, has never worked, will never work, the kind of planning every single professional you know who’s trying to plan is attempting to do even as we speak despite the little-discussed-and-depressing fact that not one of their best laid plans will ever make one difference in their lives at all other than to unnecessarily frustrate, infuriate and intimidate them, while keeping them

busy– uselessly and unproductively– for hours upon end!) You know the kind of plans I’m talking about here. The kind of plans that create gobs of guilt because you don’t keep them?

The kind of plans that create enormous bouts of self-loathing because you never fulfill them? The kind of you make with great effort and tedium, only to find yourself later on doing something completely different than you had planned to do and wondering how you got there from where you began?

But let’s get back to that one Fundamental Principle I’m talking about
that differentiates The Business Plan That Always Works from every other
plan that doesn’t.
I call this Fundamental Principle, the Heart-Centered Principle of
Planning.

(Now, bear with me here. I know this could begin to test your hidebound
mpatience. You’re an entrepreneur after all. World-wise and world-weary.
You’ve seen everything, done everything, been beaten up by everything. You
know with every close-to-cynical breath you breathe that language used
capriciously can be a dangerous thing. After all, don’t you do that for a
living: use language to produce results? Well, of course you do. Don’t we
all? And it can get us all into serious trouble. But despite that, bear with me anyway. This path I'm leading us down is a path no one has ever taken you down before. And it’s not capricious. It’s deadly earnest. And because of that it can get a little sticky in moments. It can test your patience in moments. It can put me into question in your mind in moments. Despite all that, and despite your natural reservations, let’s proceed a few steps further and I believe you’ll truly begin to relish this thing we’re going to do together, this thing I call The Business Plan That
Always Works.)

The Heart-Centered Plan is so distinctly different from its opposite, The Head- Centered Plan, that it’s important to define the distinctions carefully.

There are Seven Essential Rules of Heart-Centered Planning, of creating The Business Plan That Always Works for you.
These seven rules are:

Rule One
The first rule says that Heart-Centered Planning begins and ends with a feeling, while Head-Centered Planning begins and ends with a thought. To understand this rule, it is critical that you know the difference between
thought and a feeling. Most people don’t. (Don’t laugh, they really don’t.)

Most people often confuse their thoughts with their feelings and their feelings with their thoughts. How do you know the difference between a thought and a feeling? A feeling resides inside your body; a thought resides inside your head. Let me say that again so that it sinks in. A feeling resides inside your body, while a thought resides inside your head. Most of what you’re doing right now as you read this article is a thought which is going to turn into a feeling, rather than a feeling which is going to turn into a thought. Heart-Centered Planning starts with a feeling, turns into a thought, and ends with a feeling. Head-Centered Planning begins with a thought, turns into a feeling, and ends with a thought.

The rule here is that any plan that ends up in your head is a thought, and, because of that, won’t work. The Business Plan That Always Works is dominated by your feelings, not by your thoughts.

And because of that, it is propelled forward because you want it to work, as the expression says, with all your heart. The point I’m making here is that despite everything you’ve been taught to the contrary, cerebral has no momentum of its own. Thoughts die cold and lonely. A plan which describes the future, with no heart, is a plan destined to fail. The Business Plan That Always Works therefore, is a plan which begins and ends in your heart…which means it’s a living plan, not a dead one. Which means that it possesses an enormous amount of energy, which people describe as passion.

And we all know what passion can do when it’s poured into a personal cause. That’s what The Business Plan That Always Works is, after all, a personal cause filled with passion.

End of Part One

Best Places to Live in USA – Money Magazine

Best Places to Live in USA – Money Magazine

First, we divided 271-city list into three regions:
east, central and west.
Those lists were sorted by population.

Then, based on careful examination of lifestyle segmentation data, we narrowed the list further by identifying those towns with demographics that closely mirrored that of the typical MONEY reader: college educated, working professional, well-above average median income.

In addition, the town had to be located no more than 60 miles from a major city. That ensures reasonable access art and culture resources.

Only cities with median incomes above $50,000 a year and unemployment rates below the national average were included in our search.

We divided the resulting list of cities into three distinct regions and further divided it by population level -- over 100,000 population and under.

We ranked each city within the resulting six lists based on population growth and what we call the "housing premium ratio," or the cost of residential real estate relative to local income levels.

The formula ranks each city in terms of its category's norms.

Many cities do so well on one measure such that they rank near the top despite a low score on the other.


1 Cary, NC 104,210 118% $77,091 $207,000
2 Ramapo, NY 112,684 20% $64,954 $330,875
3 Coral Springs, FL 128,715 68% $62,632 $218,500
4 Alexandria, VA 131,918 19% $59,976 $290,000
5 Sully district, VA 152,169 63% $92,942 $290,000
6 Chesapeake, VA 209,986 38% $53,758 $150,000
7 Hunter Mill district, VA 115,428 27% $93,987 $290,000
8 Dranesville district, VA 110,480 19% $109,502 $290,000

Eastern region, under 100,000 population

1 Sugarland Run district, VA 29,115 178% $103,350 $278,250
2 Manalapan, NJ 34,018 27% $91,245 $410,000
3 Centreville, VA 50,347 91% $77,243 $250,000
4 Randolph, NJ 25,643 28% $104,121 $444,500
5 North Andover, MA 27,725 22% $79,169 $342,500
6 Franconia, VA 33,321 71% $84,537 $290,000
7 Wellington, FL 41,993 86% $76,076 $230,000
8 Collierville, TN 31,817 104% $85,716 $230,000
9 Brentwood, TN 26,308 69% $107,866 $338,250
10 Chantilly, VA 43,134 49% $94,864 $320,000
11 Oakton, VA 30,720 27% $90,824 $341,000
12 Dunwoody, GA 34,151 30% $86,971 $315,000
13 Gaithersburg, MD 57,089 42% $64,944 $220,000
14 Marlboro, NJ 37,875 35% $108,759 $379,975
15 Bridgewater, NJ 45,602 40% $93,484 $316,000
16 Newtown, CT 25,407 22% $97,723 $358,500
17 Peachtree City, GA 33,745 74% $79,805 $214,500
18 Ellicott City, MD 60,181 45% $83,583 $248,000
19 Roswell, GA 78,864 38% $76,530 $226,450
20 Hoover, AL 64,553 54% $64,431 $170,450
21 Bernards, NJ 26,355 53% $112,435 $279,900
22 Matoaca district, VA 70,562 69% $65,149 $135,000
23 Olney, MD 33,174 26% $100,716 $287,450
24 Reston, VA 58,255 21% $85,264 $240,000
25 Columbia, MD 93,794 23% $77,033 $199,000
26 Lower Makefield, PA 33,836 35% $102,997 $205,000

CENTRAL
Rank City Population Increase from 1990 Median household income Median home

price Central region, over 100,000 population

1 Naperville, IL 139,654 56% $94,687 $260,000
2 Lawrence, IN 113,967 21% $52,023 $160,930
3 Overland Park, KS 160,253 42% $66,674 $191,520
4 Olathe, KS 102,617 59% $65,111 $175,560

Central region, under 100,000 population

1 Woodbury, MN 50,701 153% $81,592 $219,000
2 Dublin, OH 33,480 92% $96,828 $355,100
3 Wildwood, MO 33,396 96% $100,278 $320,000
4 Libertyville, IL 52,147 23% $79,360 $350,000
5 Chesterfield, MO 55,768 60% $96,013 $333,000
6 Eden Prairie, MN 55,602 41% $82,730 $292,500
7 Fremont, IL 25,254 77% $81,290 $210,000
8 Leawood, KS 29,864 53% $102,106 $307,230
9 Plymouth, MN 66,476 31% $82,129 $275,000
10 Bartlett, IL 37,372 74% $84,580 $195,500
11 Carmel, IN 44,103 60% $87,251 $196,900
12 Maple Grove, MN 51,824 34% $81,512 $224,000
13 West Bloomfield, MI 66,237 21% $96,880 $276,500
14 Granger, IN 29,310 46% $85,896 $145,595
15 Ela, IL 43,704 35% $106,099 $210,000
16 West Chester Twp., OH 56,804 43% $76,373 $131,000
17 Buffalo Grove, IL 44,294 20% $86,525 $174,750
18 Plymouth Township, MI 28,375 20% $78,740 $100,000
  
WEST
Rank City Population Increase from 1990 Median household income Median home price Western region, over 100,000 population

1 Plano, TX 271,090 113% $82,857 $191,520
2 Anaheim, CA 343,855 29% $52,196 $340,000
3 Scottsdale, AZ 223,181 70% $59,596 $263,500
4 Santa Rosa, CA 152,450 24% $54,537 $349,500
5 Irvine, CA 150,450 32% $77,662 $430,000
6 Orange, CA 134,506 22% $63,451 $385,000
7 Santa Clarita, CA 159,446 43% $70,342 $305,000
8 Thousand Oaks, CA 123,752 19% $81,576 $445,000
9 Fremont, CA 209,304 23% $81,318 $425,000
10 Simi Valley, CA 120,358 20% $76,445 $352,000
11 Westminster, CO 106,870 41% $60,552 $194,500
12 Richardson, TX 100,544 32% $66,914 $228,361
13 Anchorage, AK 272,830 21% $59,548 $190,152

Western region, under 100,000 population

1 Rancho Santa Margarita, CA 49,898 205% $84,159 $350,000
2 Flower Mound, TX 61,579 277% $99,516 $210,672
3 San Clemente, CA 52,969 28% $68,799 $555,000
4 Tustin, CA 70,551 42% $60,250 $391,000
5 Carlsbad, CA 86,511 40% $68,410 $446,000
6 Laguna Niguel, CA 64,381 46% $85,585 $480,000
7 Danville, CA 44,397 37% $122,092 $703,500
8 Chino Hills, CA 72,333 91% $81,926 $347,000
9 Dublin, CA 31,733 36% $83,254 $432,500
10 Pleasanton, CA 66,336 29% $96,922 $509,000
11 Allen, TX 53,400 160% $84,278 $169,721
12 San Ramon, CA 47,887 32% $106,656 $529,500
13 Livermore, CA 75,272 30% $79,880 $400,000
14 Mission Viejo, CA 98,748 25% $84,060 $427,000
15 Coppell, TX 37,262 122% $102,202 $237,272
16 The Woodlands, TX 65,215 123% $89,746 $191,188
17 Diamond Bar, CA 58,136 18% $72,740 $332,500
18 Sugar Land, TX 73,845 65% $85,006 $183,374

The Salesman Who Doesn't Believe in His Product - by Bryan Wittenmyer

The Salesman Who Doesn't Believe in His Product - by Bryan Wittenmyer

Many years ago I worked for one of those large national real estate brokerage firms selling real estate. This was not my introduction to the real estate business, since I had been investing in buildings and property since 1984. My trainer was an older but highly successful real estate agent. One of the things he shared with me and the other trainee was the fact he had consistently earned over $10,000 per month for the past ten years. He drove a Corvette, was divorced, and owned one property--his residence. If my math is correct, he grossed somewhere in the area of $1,200,000 in ten years. That is right, somewhere in the area of one to one and a half million dollars had gone through his business hands in those working years.

While this individual was a talented agent who had built a nice customer following, I had to ask myself--Why hadn't he ever invested in the great product of real estate? It certainly could not have been an income problem. Even if that excuse were used, we all know 90-100% of a deal can be leveraged. I didn't know for sure, but this skilled agent gave me the impression he didn't have much money. He had income, but very little capital. It could have been that his divorce cleaned him out, financially speaking. Divorce is a major estate and wealth destroyer. (It is worth noting, the author of the book, The Millionaire's Mind, shows most millionaires have been married only once.)

With all of the benefits that accrue to real estate ownership, I am surprised by folks involved in the buying and selling of property on a daily basis who own no real estate. It is an enigma. Let's count some of the benefits:

1. Discounts and instant equity earned when buying
2. Principle pay down on mortgage, monthly
3. Appreciation--unknown upside potential
4. Rehab and fix-up profits in terms of new equities
5. Forced savings plan (can't sell or tap equity as easy as more liquid investments)
6. Special capital gains and write-off advantages
7. Ability to pyramid gains with 1031 tax free exchanges
8. INCOME: RENTS
9. Ability to grow net worth with no tax unless you sell
10. Easy to purchase with leverage

I recently got an email from a company selling some real estate course. The main selling feature seemed to be his rant against being a landlord. It was almost like landlords are dumb because there are much smarter ways to make money. Again, this seems odd to me. Real estate is one of the greatest investments in the world. Why wouldn't I want to actually OWN it?

Buying and selling definitely has its place. But owning real estate is where you grow equity for the future. Contrary to all of the myths out there--owning real estate is where large estates are created. I am not ashamed to own property. Ownership, i.e., rental income is where freedom comes into being. It won't happen overnight, but give it 5-10 years with hard work, and you will launch yourself into a newfound freedom. I know it's hard for impetuous North Americans to think long term.

Back when I was fresh out of high school, I helped a friend and his family move. They had been renters all of their life. In fact, I estimate they had been renting for at least 25-years when I helped them move from one rental house to the next. The thing I remember is the totality of their life was in that moving truck that day. You see they didn't own any property; other than some worn out furniture and clothing--they had no equity. The sad thing was being long-term renters guaranteed them a life of virtual poverty. The bottom line: When you don't OWN real estate, it is extremely difficult to accumulate any net worth.

I will conclude with this. Years ago at our family business, there was a salesman who worked for one of our suppliers. He serviced our account (sold us Gibson appliances wholesale). He was one of the most honorable and decent guys you could ever meet. He was about 60-years old--about the same age as the real estate salesman mentioned above. He dressed very modestly, drove an average (boring) car. He looked like a regular, middle-class guy. His regular life was being a farmer. He did the sales job just for some spending money and to keep busy. As I got to know him, he disclosed that he owned 48 acres of farmland in a very up and coming area about 30 minutes from our business. THE POINT: The guy is a multi-millionaire--about 2 million. WHY? BECAUSE HE OWNED REAL ESTATE OVER A LONG TERM OF TIME! Real estate salesman who looks rich and who doesn't own his product, or a "poor" farmer? I'll take the farmer.

Author's Biography  
Bryan Wittenmyer has been investing in real estate for the past 15 years. He's not the new kid on the block. In the past five years he has written extensively in the real estate field. His articles have appeared in Creative Real Estate Magazine and the Real Estate Entrepreneur. Bryan served on the board of directors of the Real Estate Investment Association of Berk's County for 3 years.

Although Bryan hasn't attended formal university studies, he keeps himself educated reading a plethora of books, newsletter, journals, and listening to hundreds of audio tape lectures. He jokingly considers himself to be an information junkie. You can also benefit from his years of practical business experience, having managed several income stream businesses, ranging from automobile debt instruments to appliance paper. He also has bought numerous real estate debt instruments - he knows the income stream business.

Renee Rubio -- Being valuable

Renee Rubio -- Being valuable
<reyna3370@yahoo.com>

You sit talking with someone –
listening to the rationalizations, the excuses, the reasons why its  okay to do something or not do something you know to be against what is right or what is sound.

After all, were only human.

We have to choose our battles.

We can’t fix everything.
We don’t want to upset anyone.
We let the rationalizing pass, the excuse for the lesser action taken with a supportive, that’s true, the most important thing is you tried or some other affirmation of what we know to be false.

You challenge the rationalization.
You awaken someone to their excuse.
You call them on the contradiction.
Yes Men, Yes Women provide no value.
Be valuable to your family, friends and associates.

Once more each week, avoid the simple path for its ease and create 52 more possibilities of  the right thing being done each year.

Encourage the principle.
Encourage the virtue.
Encourage character.
Once more each week.
Be valuable.

"Treat people as if they were what they ought to be and you help them become what they are capable of becoming."
Johann Goethe  - German dramatist, poet & novelist
(1749 - 1832)
As iron sharpens iron, so one man sharpens another.  -  Proverbs 27:17

Recycle the Real Estate Oink by Bryan Wittenmyer

Recycle the Real Estate Oink by Bryan Wittenmyer

The grandparents from my mother's side of the family had been in the butchering business for over fifty years. As a kid I visited their butcher house with great curiousity. The amazing thing they showed me was how virtually every part of the animal gets processed into some salable product. There's a saying in the slaughterhouse business--"We use everything but the oink." I will relate how all of this fits into your real estate business in a moment. Indulge me, please.

In the meat processing business every single by-product and meat part gets used (if you are a militant vegetarian stop reading now). The bones are sold to fertilizer factories where they are ground into powder and dried. Ditto for most of the blood. Blood makes fine fertilizer. The hides are obviously sold to leather tanning companies where they too are processed. The best cuts of meat are sold as steak and roasts, while the lesser grade cuts are ground into hamburger with a little blood added for color enhancement. The inedible entrails are typically sold to petfood companies where they are mashed and cooked into a nutritous dinner for North America's pets. Some of the more unknown organ meats are sold to Asia as various food delicacies, while some are sold to pharmaceutical companies to extract life-saving medicines or chemical substances. I could go on, but I think you get my point.

In your real estate business (rentals, flipping, or management services) you need to model yourself after the butcherhouse model. How? By taking all of the materials and supplies that you use and not waste a scrap. This means saving all end of can paints, screws, nails, carpet pieces, vinyl scraps, wood, and 100s of other things used in rehabbing and maintenance.

For instance. I saved about a 4X5 foot scrap of leftover vinyl used on a house 5 years ago. That house developed a hole in the vinyl. All I had to do was take the "scrap" piece to my handyman and have him splice it into the hole area! Same thing works with carpet--ever have tenants burn holes in carpet? Things you should save: celing tiles, miscellaneous hardware, outet and switch covers, nails, screws, cabinets, roofing supplies, glass panes, etc.

Next, with this philosophy, start stopping and picking up unwanted stuff left by the curb as junk by homeowners. This means old cabinets, windows, doors, storm window glass, vanities, etc. As you know, if you have read my book, Perpetual Income, that I am a dumpster diver. I root through job site dumpsters. People throw out lots of good stuff. I have carpet in several of my properties that was gotten for free or almost-free prices.

To have long-term success in real estate you need to be frugal. Being strategically cheap is fun. Frankly, when I use some supplies I have either found for free or have stored in my inventory, I get a lot of kicks out of it using them.

Do this: Save everything remotely usable. Inventory the stuff so you know what you have. Check out buildings that are scheduled to be torn down. Strip them (with permission). Stop and pick up freebies. Be cheap!

This works once you get going with it. You will need some storage. Buy or build a small barn or garage out behind your house, if possible. The costs of a small out building are extremely low--especially if you do it yourself with the many kits available. This will payoff big in your housing business.

Author's Biography  
Bryan Wittenmyer has been investing in real estate for the past 15 years. He's not the new kid on the block. In the past five years he has written extensively in the real estate field. His articles have appeared in Creative Real Estate Magazine and the Real Estate Entrepreneur. Bryan served on the board of directors of the Real Estate Investment Association of Berk's County for 3 years.

Although Bryan hasn't attended formal university studies, he keeps himself educated reading a plethora of books, newsletter, journals, and listening to hundreds of audio tape lectures. He jokingly considers himself to be an information junkie. You can also benefit from his years of practical business experience, having managed several income stream businesses, ranging from automobile debt instruments to appliance paper. He also has bought numerous real estate debt instruments - he knows the income stream business.

Be ‘The Doctor’ to Seller’s Problems – Unknown Author

Be ‘The Doctor’ to Seller’s Problems – Unknown Author

If you want to really be successful as an investor, you must consider yourself as “The Doctor” to the Seller’s problems. Just like medical doctors, Sellers must see you as being professional, well-educated, acting in their "patient's” best interest, and bound by a high code of ethics. The medical process is the same everywhere. Whenever you go to a doctor, of any kind, for any condition, he will follow the three-part sequence of examination, diagnosis and prescription.

Unfortunately, most new investors do it backwards. They spend all of their time telling the Seller about their company, services, and how great they are, instead of finding out what the Seller wants or needs.
At the end of the conversation, they know all about the investor, but the truth is that the Seller DOESN’T CARE ABOUT THE INVESTOR! At best, if they haven't fallen asleep or tuned the investor out, they have already made a decision. And that decision is to NEVER DO BUSINESS WITH AN INVESTOR THAT TAKES NO TIME TO UNDERSTAND THEM.

BEGIN WITH A THOROUGH EXAMINATION
Just as a medical professional would never think of treating you without following these three steps in order, you as a doctor of selling, would never allow a Seller to force you to sell without you going through your three stages as well. In the examination phase, you ask excellent questions, carefully prepared, in sequence, which are geared to give you a thorough knowledge of the Seller's condition or situation.

The first thing they do is ask you to fill out a medical history form. They want to know about your ailments, illnesses and injuries. Your family's medical history. Are you allergic to any drugs? Have you seen other physicians? Who? When? This history form for investors would be the Seller’s Questionnaire which they fill out to help us determine what their real needs and wants are. Then the doctor comes in, asks you lots of questions, and begins to examine you. He listens to your heart and lungs. Taps your knees and elbows with a rubber mallet to check your reflexes. He looks into your eyes and ears, and up your nose with a little flashlight. He makes you open your mouth, pushes down your tongue with a depressor, and makes you say AHHHH, while he looks down your throat (and you start coughing).

For investors, this examination would be

• the inspection of the property, where you fill out everything you see right or wrong with the property and take notes of what the costs are for repairing, rehabbing, or minor fixing.
• Depending upon the answers to the questions and the results of the inspection, more questions will be asked to see what other things we need to know before prescribing a solution.

The Key Is To Find The Seller’s Pain
Investors often miss this important variable therefore they don’t really know what strategy to take when dealing with a Seller. If the Seller was not in "pain" they would have never called you, but they did call you because they knew that they had a problem that needed fixing. You've got to discover the financial impact or economic
value of the problem. You've got to get the Seller to tell you how much it's costing them or how much sleep they are losing because something isn't right with their house situation.

DIAGNOSE THE SELLER’S NEEDS ACCURATELY
The second phase is that of diagnosis. In the diagnosis with a Seller, you would repeat the results of your examination and double check to be sure that the problems that you had detected were the real “pains” being experienced by the Seller. You would ask additional questions to confirm and corroborate. You and the Seller would mutually agree that this diagnosis seems to be an accurate description of the condition or problem.

MAKE THE RIGHT PRESCRIPTION

Once this mutual agreement has been reached, and you have identified the “pain” accurately, you can move on to phase three. This is the prescription phase, where you show the Seller that your service is the best available treatment, taking all the factors of the Seller's situation into consideration for their pain. You show that, on balance, what you are suggesting is the best of all possible solutions.

Investors who sell the way that doctors treat patients find that their deals proceed far more smoothly and result in bigger and better profits in less time.

• Spend more time asking great questions, and
• less time talking about yourself and your company, and
• you'll create more opportunities, close more sales, and make more money.
• By asking better questions, and
• being interested in the answers,
• you can discover what the Seller’s problems and issues are and then offer a solution.
• Most of the time, if they are not motivated, they will tell you straight out, right then and there.
• Hopefully, you did not make a trip for them to tell you this, but you learned this when you spoke to them on the phone using the Seller’s Questionnaire to gather information. During each conversation, you should ask detailed and pointed questions about
• what the Seller is trying to accomplish; and
• what their goals and objectives are.

A question I also like to ask is

• “What would you like to see happen?”

And then I LISTEN and take detailed notes about everything the Seller is saying while filling out the Seller’s Questionnaire -- even on appointments. It’s okay, they will respect that you are taking notes on how you can help them better.

Another good question I like to ask is,

• “What would you like our company to do to help you?”
• This question really allows me to find out what the Seller is thinking and exactly how I can help them.
• So I really don’t have to guess or pressure them because getting to their motivation is just a couple of questions away.
• And once I ask those key questions, I know I have a deal or not.
• And to close the sale, I say,

"When would you like our company to help you in your situation?”

If the Seller tells you that they have no real timeline, that they will just wait until the property sells, this is often a sign you do not have a truly MOTIVATED SELLER.

Make sure you protect your time by being willing to walk away if it becomes clear that there isn’t enough motivation.

No matter how the Seller responds, your main goal is to open a line of communication and develop a conversation about the property and the needs of the Seller. I know that some deals take 5-7 contacts before they close so an important aspect of our System is follow-up.

Even though they may not do business today, they certainly can call you back 3-9 months later because you keep sending postcards and letters and are constantly on their minds. Here is where you separate yourself even further from the other investors and buyers. I used to get surprised if they called me after a meeting or a phone conversation I had with them a year ago, but by continuing to send them letters and postcards, they remember me and call me because I was first on their minds.

So, if you will treat your real estate business like a doctor’s by understanding and diagnosing a Seller’s problems, you will make just as much as doctor and even more.

Avoid "Negative Thinkers" Like The Plague! - Fixer Jay Decima

Avoid "Negative Thinkers" Like The Plague! - Fixer Jay Decima

"You might as well realize that the time for opportunity is past. There's no longer any use trying to save for investing. The best you can hope for is to keep a steady job and stay off welfare. Nobody will ever again be able to build an estate big enough to produce an independent income." These are the words of an economics professor from a prestigious California university. In a moment I'll tell you the rest of the story. But first, let me emphasize how important it is to choose very carefully who you listen to. You will always learn your most valuable lessons from positive thinkers.


Beware of "Negative Thinkers"

The world is full of "Chicken Littles" who are always telling anyone who will listen the sky will surely fall by a particular date. I've been around for more years than I care to brag about and I've yet to see even a small piece of blue sky lying on the ground. I've even quit wearing my hard hat, except for those rare occasions when I visit my tenant to deliver a rent increase notice.

Certainly the California economy did slip down. There were many discouraging things to talk about. Housing prices dropped 30 percent, rents went down, military bases began closing and a whole train load of business folks simply packed up and left California looking for greener pastures. And that was the good news. The worst part was no one ever knew exactly when the down cycle would end.

Still, looking for a steady job to keep off welfare seems like pretty harsh advice from an economics professor.

Several years ago I decided that with all the properties I owned I might just have enough. I made a conscientious effort to reduce my holdings. I sold several proper ties and began collecting mortgage payments instead of rents. When the economy stalled out and some super bargains started showing up again, the temptation was more than I could bear-I got back in the hunt again. But, I am being extra picky. Many good deals are out there and it's easy to smell the profits. When the economy turns sour, it's definitely much easier to find cash flow properties almost everywhere.


Professor Prophet of Gloom

About the economics professor and his gloomy forecast, let me just say that he's the kind of an educator who can keep an entire graduating class working their buns off at Burger King. However, his advice has been proven wrong for a long time now. You see, he was offering his advice to the graduating class at Fresno State College in 1931. William Nickerson was in that class. Obviously he was not too impressed by the professor's advice. Bill recalls the speech in his best-selling book "How l Turned $1000 into Five-Million in Real Estate", Simon and Schuster (Rev. Edition) 1980.


Change Creates Opportunity

Real estate cycles, both up and down, are nothing new to savvy investors. Real estate cycles create winners and losers alike. The secret to survival is learning how to stay in business.

Have you ever watched surfers from the beach? If you have, you can't help but notice how they roll with the waves. Good surfers are not toppled over by even the biggest and most treacherous waves.

Real estate investors can prepare themselves for treacherous times too. They do this with each new experience and by continuing their education. When you are knowledgeable about what you're doing and develop the confidence that comes with that knowledge, doom and gloom prophecies will have very little effect on your investment success. You'll be able to ride out the rough waters until they are calm again.


Full Speed Ahead - Damn the Torpedoes

In the 1970s I was fixing up four run down houses. Two of them were hooked to a collapsed septic tank and with every flush, bright yellow water came up around my roses. The tenants called the health department and it scared me half to death. I thought the my newly acquired rentals would be condemned. As it turned out I fixed the tank and my roses grew even taller. More important, my rents kept on coming in. The lesson I learned is that most problems are not nearly as bad as they often appear.

One of the secrets to survival in this business is to properly assess a potential problem, get good help with the things you don't know about or understand. Above all, don't panic. Selling houses at a loss is much less desirable than creating notes to use up the equity. You can then trade the notes or use them for down payments on better properties. With this technique you can give your problem properties away without losing serious money.

By the way, when the boom-times finally rolled around for Bill Nickerson after World War II, his old economics professor said: "It's too late for opportunity now. Success in business depends on having started in the depression."

What is Rich Dad? --Patrick Cripe

What is Rich Dad? --Patrick Cripe

Rich dad is an awakening. It is not a how to book. You need more specialized knowledge. Read here on the forum and also I think you should gain the financial intelligence to play the REAL game of investing.

R.D.P.D. cash flow 101 & 202 are a great place to start, but will NOT give you all the real life scenarios that you will go through.

You will have to get some knowledge through courses, getting a mentor, property management, talking to other investors, joining a real estate investing organization in your area and talking to them. This might be a great place to look for a mentor.

There are some web sites you can go to for information to get started.

adkessler net
creonline com
resultsnow com
getrichlazy com
richardroop com
lease2purchase com
4realestateinvesting com
oneminutemillionaire com
multiplestreamsofincome com

Just to name a few.
These sites have free downloads, articles, and software.
This should keep you busy for a while.
And i do not make a thing for refering you people to these sites.
It is my pleasure to help out.

You REALLY do not need your own money.
Start now instead of later.
You are not getting any younger and why waste your youth waiting and wanting when you can be financily free at a young age and then the world will be yours at a young age.

I'm 42 and didn't start until i was 39 and now.
In 3 years i have escaped the rat race and now working on the freedom part (no worry's of money).
If i stop now i will live quite well but this is not my goal. Financial FREEDOM is my GOAL. I figure about 2-3 more years and i will be there.

Don't let any one tell you that no money down isn't possible.
I have bought everyone of my properties with none of my own money.
I've used banks, partners, sellers, realtors, buyers, and investors. This is all possible.

Whatever your REALITY is is what is possible for you.
If you SAY i can't do it, Guess what... YOU CAN'T DO IT.

You have already made your own REALITY. Instead ask yourself... HOW CAN I DO THIS?

At that time your mind will work to figure out the answer.
Don't shut it down with negative thought or saying I CAN'T.

If i would have listened to my brothers and sisters or my parents, I WOULD BE LIKE THEM... Complaing about how much money they lost in there retirement account.
I lost none as my money is in real estate getting a return with velocity.

I need not one person in this WORLD to tell me that it CAN NOT BE DONE.

My parents can not believe that with then my horrible credit, no job, no money, and not even the ability to get a loan to PAY ATTENTION, i was able to accomplish what i have accomplished.

Please, as NIKE says: "just do it"
Hope this helps out a little.

Patrick M. Cripe
http://forum.richdad.com/forums/searchpro.asp?author=Patrick+M.+Cripe&top=100

Presentations Skill – Jim Rohn

Presentations Skill – Jim Rohn

Persistence in your presentations, this is one secret to success. After my first presentation, I got up and did it again. Even though I was scared to death, I did it again. And that second one wasn't too good, but guess what. I did it again, and I did it again. And I worked up my courage, and I did it again. I committed to it, and I did it again. And finally, it got to be a little bit easier. I got a little more acquainted with the art of presenting. So have something good to say in your presentations. Preparation for your presentations, this is another key aspect. Here are some words to help you in preparation.

To prepare to have something good to say, keep a keen interest in life and people. Don't let your senses go dull here. Guess what most people are trying to do - get THROUGH the day. Here is what I am asking this unusual audience to do - get FROM the day. Get from the day a clear picture of the drama of human life - some doing is right, some doing is wrong. Some gathering in; some throwing it away. Some building reputations; some letting it all slide.

Get from the day what is happening in politics. Read the newspapers. Read the magazines. Find out what's going on. Get from the periodicals. Get from what's happening. Get from your job. Get from your career. Get from the people around you. What is happening in the community? Get from all of that. The positive side, the negative side.

My parents used to say, "Attend everything."
Some things are so costly; they might be out of reach for a while. Andrea Bocelli came to Beverly Hills. Guess what the tickets cost? $2500.00 for a two-hour performance. That is pretty good pay. So some things might be out of reach, but whatever you can go to, get to. Save up the money and go, so that you will be more aware of what is going on around you.

Keep up that interest in people. Why do they do what they do? How come things are happening today that didn't happen thirty years ago?

Now the next word is fascination.
Be fascinated with life and people and drama that is live and in color every day. Cinemascope. Fascination goes a little bit beyond interest. Interested people want to know does it work. Fascinated people want to know how does it work.

Kids have this unique ability to learn several languages in a six, seven-year period, and the reason is because they are so fascinated. They are so interested. They are so curious. Kids have to know, and that is how the drama of their learning takes on such speed in a fairly short period of time is because of this unusual interest and fascination and curiosity. We're walking on ants, and kids are studying them. They say, "Don't walk on those ants. I'm studying them." How come an ant can carry something bigger than they are? That is a good question. They must be unbelievably strong if they can carry something bigger than they are.

Here is something else I've learned. To be fascinated instead of frustrated. It is just a little trick to play. The next time you're tempted to be frustrated, see if you can't turn it into fascination. Instead of a frown, it puts a smile on your face. Now sometimes you look a little weird, but so be it. He says, "How can he smile?" I don't know. He must be somebody different.

Babe Ruth - Home Run King - back in those days of baseball used to strike out and come back to the bench smiling. They used to say, "Babe, you just struck out. How can you smile?" "I'm just that much closer to my next home run. Just stick around. It won't be long. One will be sailing over the fence."

So find things fascinating instead of frustrating.
Just try it. I've learned how to do it.
Now make this note.
It doesn't work every  time.
Nothing works every time, but every time you can get it to work, guess what?
It will benefit your day. You'll get more from it. You'll be fascinated instead of frustrated.

Now I've also learned the ultimate.
I'm fascinated by my own frustration.
How come it doesn't take me long to loose it on occasion?
It must be from my father's side. My mother was a gentle soul.
Just find it all fascinating.

I've talked to a lot of the Network Marketing companies over the years, and I give them that little clue.
Somebody joins and you think they're going to stay forever, and they leave right away.

You have to say, "Isn't that interesting?"
And someone you thought would never make it, sure enough they become superstars.

You have to say, "Isn't that interesting?"

You say, "I thought they'd stay forever, they don't stay. Isn't that interesting.

I didn't think they'd do anything, look what they're doing. Isn't that interesting?"

So that is a good phrase.
Find it interesting.
Find it fascinating.

Wow, I never thought that would happen. I had another picture in mind. Wow! Was I ever wrong.
And it's good sometimes to be wrong on the positive side. I didn't think it was going to work, and it worked.

Say, "What if somebody doesn't look at your business opportunity?"

Say, "What if they do?" It doesn't take much to turn the question around.

Say, "What if they won't join after they look?"

"What if they do?

What if they join and stay."

But I've got a better question, "What if they do stay?" "What if they quit after three months?"

I have a better question, "What if they stay?"

So sometimes little tricks you can play to give yourself a different look because somebody could either stay or leave and wouldn't it be better to assume that they would stay and then if they leave say, "Isn't that interesting?"

I have learned to do that with myself. "Wow! Look what I did. Isn't that interesting?
Wow! I thought I was going to behave better. Wow! I lost it. Isn't that interesting?

I thought for sure that wasn't going to bother me.

Sure enough. I thought I had a handle on this.

Looks like I've got some work to do."

Find yourself fascinating and interesting as you journey through life.
Give yourself a chance.

Now here is the next word that is very important if you want to be a good communicator, and that is sensitivity.
Sensitive to someone's drama and trouble and difficulty. As you contemplate your own, now you can be sensitive to someone else. And there is no better way to be helpful than to do your best to try and understand.

Here is the old phrase we've heard it, let's jot it down this time.
"Learn to walk in someone's shoes for a while.
Try to understand where they are." How come they're in this dilemma? Maybe it's something I don't know. I don't understand. How come this person is losing his temper when he should keep it? Who knows what might have happened the last three weeks. I don't know. Let's give somebody room by trying to understand.

Be sensitive to someone lashing out and being difficult at the same time.
Hey! We can handle that. We don't have to retaliate and fight back.
Can't we say, "Maybe there's a good reason this person behaves in this way."
That is an easier way. Sensitivity. Trying to understand. Trying to comprehend the full drama of human experience.

One of the greatest phrases in the Bible, "Blessed are the peacemakers."

Guess what a peacemaker is? Someone that you hope is around when the conflict could be resolved. Someone who understands both sides and brings them together. Say, "I know you've got some animosity, but now that you've fought and that didn't settle it... couldn't we get together and reason this whole thing out.

So in times of conflict, we look for a peacemaker. And the peacemaker has to understand both sides of the issue. Say, "I understand your dilemma, and I can see where you're coming from, and I can understand why you said what you said then you said what you said. But hey! Isn't there a better way? Couldn't we find a better way to settle it all?" And that is what we are looking for.

Parents have to learn to be peacemakers when there are two sides to an issue and maybe neither one is that far wrong. But to try to settle it, we have to understand both sides. We have to understand the feelings on both sides, and that kind of sensitivity gives us a wonderful opportunity to grow, so that we can communicate and our words will be meaningful. Then the test comes, and the drama comes and the time comes to step up and speak or to sit down and speak or to be quiet and speak or to be loud and speak.

Whatever that might call for, we'll be prepared if we do have a genuine understanding. So preparation in all areas of life is so vital to your success.

Don't be lazy in preparing; don't be lazy in laying the groundwork that will make all of the difference in how your life turns out.

To Your Success,
Jim Rohn