OfflineHi everyone
I have been a silent surfer of these very informative communications. I decided I needed to get involved because ... people need people.
My husband and I decided one late night in April 09 to buy Dean's book online. When it came it sat on the floor for about a week. I stared at it wondering when it would call to me to open it. I also downloaded the Mp3 version of it and put it on my IPOD, which is great. I love to walk and listen to it. My husband began the hard copy and I the Mp3.
Later after another week we got a call to join the academy. We thought about it and made the decision to join. We leveraged our payment on a credit card and was told that we have a year to do five deals and we can get our payment back. That is good motivation. Also very importantly are the coaches that are a phone call or click away. That is major because we are inexperienced in these very creative ideas. We've owned and sold/rented 4 houses but never held them long term.
Started the academy the first week of May. Talked with our coach and he gave us our beginning lessons and we began them.
Our son returned from Iraq the second week soooo not many lessons covered but visited website for encouragment.
Third week got a call from the TaxClub.
Now this was a very informative call. My husband and I had been stuck with a tax bill several years ago because of ignorance. IGNORANCE is not BLISS. You must be informed. We didn't understand about SELF EMPLOYMEENT TAXES. So when he helped locate properties for someone who was interested in investing we were taxed as a contractor. So when the taxclub went over the different levels of membership we were interested but didn't want to invest anymore credit. Our desire to not overpay taxes won out and we formed an LLC and became a member of taxclub and now have them to ask all our tax liablility questions to.
Fourth week.
Re-focused now that our son has gone back "home" to Iraq. He is in the Infantry and he enjoys being a soldior.
Talked to our coach yesterday and got more defining info. There is sooo much information that I didn't know where to start. We need buyers because we have no mo' money. That's stating it pretty simply. We used our cash to buy our new home in Nov of 08 (not even thinking about this) and have poured more into this house, (not knowing about this).
So this journal is my place where I can focus and remind myself why we are doing this.
Why we must not fail or give up
1. This kind of investing will bring us future security.
2. This will be a business that our kids can partisipate in and be benefited with.
3. We will have no more consumable debt...ever!
4. We will help reclame the community around us for the good of all.
5. We will help others by helping ourselves.
That's it for today. Today is the chapter on creating a buyers list, finding buyers etc. That is going to be great.
The one thing I hate is feeling stupid so I must study, learn and be teachable. I appreciate everyones imput.
Rhonda
Pro 13:22 A good life gets passed on to the grandchildren; ill-gotten wealth ends up with good people.
Congratulations on ordering and reading Dean's book and for you and your husband to commit to real estate investing. I am sure you will learn a lot and find it rewarding. The people and information on the DG website is great and packed with information. Good luck on your investing and future deals! Believe and Achieve!
Indiana-Joe
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First, thanks for your post Indiana. I've read alot of your postings. There are many people with great info. on here. Many are like me, shaking in their boots.
So I don't know what my problem has been but I haven't done what I should. I must create the buyers list to move on. Just pick up the phone or place a few ads. That's all. I think the deal is I'm not confident with what I need to say.
So when Dean sent out his newsletter this week it really helped me get ahold of myself and slap out the stupid and the timid. Obstacles are always going to be there. The question is what are you going to do with them?
I got to realize that there will be no better time than now for future realestate investing.
I'll be listening to the call tonight with paper and pen ready.
I love the call it inspired me to take action. I had enrolled in the academy and tax club three months ago. But i realy have not use the coaches I got so overwhelm with setting my LLC and going online for the PMI classes i did not use it. I got wrap up in the structure that i forgot to just do it. I need to creat a buyers list. Dean mention that one of his students build his list by calling on adds on the newspaper so i dicided to try it. I did it today and got four referals and two investors on my list. You mention that you are not confident with what you need to say well, I'm the same way. I literaly had to rewine the call ten times and write word by word what Dean said and i use that as a scrip when calling on the adds. It gave me confidence and once i got going i sounded more natural. Whatever works for you i guess.
Stop thinking just DO IT!
Thanks for sharing your experience with me. I did listen to the call and got some great info.
My husband, son and I formed our LLC and filed the addition to the tax paper to take advantage of being taxed as a corp.This saves tremendous taxes. LLC are still taxed as proprietor. If you talked to the tax club they probably told you about it. So now we start building the credit for our LLC by getting an office depot card and maybe a Staples.
Everyone must start with the buyers list as we learned on that call. So it's off to make those calls. I like the fact that you could call on people that rent houses and such. Didn't think of that.