Day Two of Real Estate Bootcamp

Hi Everyone,
Yesterday's bootcamp was so good that I missed my post for the 30 Day Action Plan. Sorry about that. I will post Day 17 later to day. But the interaction with other investors was well worth the delay. I will be digesting it over the next several days and sharing it with you. One thing that is coming through loud and clear is that you need to work harder to achieve the same results as you did last year or the year before. I have met investors from all over the US and last year took them by surprise as much as everyone else. We are all having to adjust to the new environment.

Though the news maybe bad we as investors look at it as the best time to buy and hold real estate then right now. All the models and shows about Flip This House are gone because that model does not work. You have a hard time finding a buyer that can qualify for a bank loan to buy a house. Most of those people are going through a realtor. Our model has changed from flipping and selling retail to holding or selling with owner financing. Prices have dropped so much that properties, even in California, can be purchased and rented for a positive cash flow. So we are going out and buying properties that we will hold forever. Our retirement will be the cash flow off multiple properties.

I was in a discussion group last night with other investors and the word mentioned the most was leverage but I will save that for the end of today or tomorrow morning. Look for Day 17 of the 30 Day Action Plan later today also.

See Ya,
Mike