Aunty just signed up for another newsletter – couldn’t help myself – the copy was that good, and the information that I was promised was going to be awesome….

It is a “field manual” survival book and a 12 month newsletter by Dr. David Eifrig (I know, his name could be a joke if you switch around a couple of letters) that will let me know how to get silver coins super duper cheap (no worries Paul, that one I promised you I wouldn’t post), a device that will purify water and fits in your pocket, and a defense mechanism that will repel attackers, available for cheap on Amazon!*

All this and more for an annual subscription fee of $39!  Such a deal, such a deal, with SO much more valuable information .  Aunty is such a soft sell, so I figure, “why not?”  And if it is worth the $39, Aunty will review and let you know so you can get in the deal too.

However, immediately after putting in the numbers of Aunty’s corporate dedicated credit card (note to Aunty:  write a post about the stupendous advantages of having a C Corp), another super duper special offer popped up, with 6(!) expert newsletter people and all kinds of goodies that will make Aunty rich(!), happy(!), secure(!) and all that good stuff came, worth at least $12,000, with no annual renewal fee and a time sensitive super duper special of $1000, period, good for Aunty’s lifetime!!

$39 with annual renewal or $1000 without?

$1000 is a lot of money, even if it is for 6 experts that I really don’t know, sending me newsletters and tips.  This is much more than $39 to find out how to purify water and repel bad guys.  The publisher of all those newsletters putting this deal together is a master of newsletter affiliate marketing.  A master almost to the point of being annoying.  AND, this $1000 lifetime guaranteed deal is not just $1000, because there IS an annual fee of $149 for something that isn’t called an annual renewal.  So now it is confusing – there is an annual fee?

Okay, that was a turnoff.  Maybe the information and lessons are worth thousands IF Aunty practices it.  Maybe Aunty will become a millionairess overnight or in the next year.  Maybe Aunty will be retired with Uncle with no cares or worries, living a lifestyle that is perfect for us.  Maybe it will be so, but da buggah stay lie [translation:  the publisher/marketer was being deceptive.]

Auwe!

First, he says “no annual renewal fee” and then he says “small fee of $149 charged annually.”

This publisher – Stansberry Porter whatever – might be a good guy, but he really should be more ethical, IAO (in Aunty’s opinion), or at least not talk through both sides of his mouth with different stories.

Has Aunty ever paid a lot of money for a subscription/service?

Yup.  In fact one of the most recent ones is The Wealth Builders Club by Mark Ford.  This one cost $1500, paid with Aunty’s corporate account, and is worth more than $1500, IAO (in Aunty’s opinion).  Lessons are unfolded like peeling layers off an onion.  Each layer is delicious, rich with content, and done with sensitivity to those of us with moderate income wanting to improve our lives.  Recently (IAO) it spends a bit too much emphasis on the paid in additional riders of mutual whole life insurance, even though it IS an awesome way to save and use money.   Several strategies for income and investment are broken down and taught, all very possible, all well researched and even tested.  Membership does cost a lot of money, but Aunty feels that she is getting her monies’ worth and even has an affiliate relationship with them.

Aunty recommends this “Club” only if you are serious about investing and have the means to do so.  If you are not yet financially solvent or just starting off, then Mark Ford’s Palm Beach Letter is a less expensive option and rich with content, just not as frequent and detailed as the Wealth Builders Club.  It is one of my favorite, and is a bargain.  The Palm Beach Letter is $39 annually.  Aunty highly recommends this newsletter and also has an affiliate relationship with them.  If you click on The Palm Beach Letter, you will have access to their rather long (and excellent) sales copy and subscription button to join.

However, subscriber, be aware!

Be Aware, not necessarily Beware.  ALL of these self help, financial, be better, etc. newsletters are in the business of affiliate marketing.  EVERY one of them, especially the free ones.  You will get a LOT of invites to view other products/newsletters/secrets/strategies. They all have appeal and urgency with impending doom.  One thing almost all financial and investment newsletter like to do is bash the President in office, and that is kinda overdone.  In this day and age, in our current crisis/non-crisis, it doesn’t matter who is in office.  We have to take charge of our own finances, growth, retirement.

Subscribing to newsletters is a good start, just be careful who’s opinion (it is all opinion until history proves it to be fact) you want to adopt as your own, and be ready for a lot of emails pitching this newsletter service and product or that service and product.  Your email address and contact name has been melded into “THE” list of potential buyers, and the campaigns will begin.

Some of them are fantastic, some are pretty good, some of them are not so good.  Aunty reads them all to get a general bigger perspective and then either forgets about it or bookmarks it in one of the 35+ email folders for newsletters on my laptop.  Penny stocks, mortgage updates, recipes, gloom and doomers, silver bugs, investment advisories, yada yada yada.   Yep, Aunty gets daily emails from subscriptions, and because of them, the number of newsletter and offers keeps growing.

Just a heads up to be aware that others will send enticing sales promotions to you.  Be choosy in what you do buy or subscribe to.

Aunty also affiliates

Aunty is starting to monetize her website, and Aunty also has affiliate marketing relationships.  However, the affiliate markets that Aunty has are those that are tried and true, tested and used by Aunty.

The google adsense ads that pop up are not of Aunty’s choosing but those are monetized by Aunty’s content and people clicking on those ads, and so far…….drum roll please………over the last 2 months……….Aunty has made…………$14.11!  It’s a start, thank you very much.

Future lessons about how that is going as well as more of Aunty’s journey into websiting will be covered as time goes on.  If you ever had an inkling or itch to start your own blog/website, just go for it.  Aunty’s “Website” page walks you through the process.  For less than $50, you can start your own blog without having to hire a designer/programmer/expert.  It will be a learn as you go experience.  In the beginning, just post content.  Later on, you can start to monetize with google ads or other affiliate ways and when you make over $14 like Aunty, please let Aunty know so we can celebrate together!

Aunty the millionairess

It will happen, and it’s not because Aunty sits around meditating and focusing on a dream board (Aunty still doesn’t have a dream board and lacks the discipline of meditation).  Warren Buffet, the brains and heart behind the super successful Berkshire Hathaway fund/company said, “Be greedy with others are fearful, and fearful when others are greedy.”  In other words, don’t necessarily do what everybody else is doing or says to do.

Instead, read, learn, listen, then form your own conclusions.  Determine your path and take the steps, one by one, inch by inch (“NIAGARA FALLS!!!….” lol – sorry, I digress).

If you have any questions or want Aunty’s take on something, please comment below.  Just let Aunty know in your comment if you want it to be private and Aunty won’t approve it for posting.

*[Update:  the manual is pretty good, lots of useful information.  The water filter that was hyped and can be bought on Amazon for around $20 is called LifeStraw.  The device that will repel people and animals is an airhorn, the louder the better.]

Aunty was going to title this latest post, “Closing Cycles = Zounds!” but changed it after Aunty looked up the word.  “Zounds” is an abbreviated version of “God’s wounds”, or a mild oath.  Not very pleasant stuff.   “Wowza” a better word in this situation, interpreted as surprisingly amazing or oh my gosh.

In this weekend’s seminar with Meir Ezra (review coming soon), we were constantly challenged to define the meaning of words – simple words that we all thought we knew.  Truth, Ethics, Statistics, Product, Spirit, Money, and on and on.  It was amazing how most of us were not able to verbalize definitions, or had a very wrong definition of a word in the data base of our brain.  An example:  do you know the meaning of the word “peruse?”  Using the Webster dictionary clarifies a lot of misunderstood words.

Another powerful insight that Aunty got from this weekend’s seminar was the cycle of action:  Start, Change, Stop.

I had heard it before:  everything in life has a beginning, an evolution, and an end.  Everything we do has the same cycle.  Every task, idea, feeling has that same cycle.  Example:  if someone (or you) does something that causes you to resent them (the start), the feeling in that relationship simmers, bothers, bugs you (the change), until you can either forgive or let go (the stop).  Open cycles of action are when you are stuck in the change phase – the simmering, the bothering, the bugging.

Aunty has a LOT of open cycles in her life

Because of this, Aunty feels stressed.  Uncle has far less, and thus, he is a very happy man.  The more open cycles we have, the more problems we have.

One of the exercises from Meir’s first workshop was to write down a list of all the open cycles in our lives.  In our jobs, we have daily, weekly cycles of actions that we must complete, i.e. send out an email to employees re: reduction in hours (start), think about, get clarification, push it on the side, or format the email  (change), send the email (stop).  Students have assignments (start), they do research, start typing, leave it until the last minute (change), they turn in their assignments or don’t turn in their assignments and get an “F” (stop).

Aunty did the exercise, but poorly and without intention.  It was not until this morning, when Aunty awoke, that Aunty really got it.

You see, there was a set of invoices that needed to be recalculated and go out to a customer for Uncle’s business.  Because it was a bit of a headache to deal with, Aunty buried it under a pile of papers.  This was an open cycle.  Granted, it was a small open cycle, but it was open and causing a problem  – we were not getting paid.  It was also causing Aunty to have anxiety because they had to be processed.

Aunty’s Wowza

You may think, “duh”, Aunty should just finish up those invoices and send them out.  Well, that makes you far smarter than Aunty because Aunty just finally realized that and took 10 minutes to complete the task, address it and pop it in the mail.

It felt SO good to close that paper sized cycle!!

That small cycle closing made Aunty feel terrific, and Aunty now has a lot more locomotive steam to tackle her other open cycles, one by one.  Some of them are also small (pack bag for trip), some are huge (downsize belongings).  Some are relationships – big constant weights on Aunty that will take some time to clear, but just by writing them down, the problem starts to go away.

Many cycles are not problems because Aunty is great at closing them out, such as paying off credit card balances every month before the due date.  The difference is that Aunty can give those a “Wowza!” each time they are done.  Closing open cycles makes the problem go away.

Your open cycles

Look at your problems, your hurts, the things that cause you stress in your life, and find their open cycles.  Sometimes it is a word said in anger that keeps eating away at your insides, sometimes it is an idea that you can’t stop thinking about.

Write down as many open cycles that you have and work on one of them at a time.

Turn your personal “zounds” into closed cycles and let Aunty know so that Aunty can “Wowza” you!!

Aunty has never done a no money down deal.  Why?  Because it is very much harder and more sinuous (having many curves and turns) to do than a deal with money.

Most people that go to investing events and courses have a common refrain – “I want to invest but I don’t have any money.”  The lure of being able to swing an income generating deal without any money is strong, and the projections and testimonies of others that have found wealth doing this type of deals is very appealing to new wannabe investors that have no money.

Why do they have no money?

Each person has a different answer, but the fact that they are attending investing events is one of the first steps on their path to wealth.  It gives them an edge over all the other people who don’t have money and expect to somehow survive in the state of barely surviving without trying to improve their situation.

However, paying money to a guru with empty guarantees in order to learn “no money down” strategies gets them that much poorer or in debt, and less able invest.  Students are taught assignments, wholesaling, subject tos, purchases using other people’s money, forming partnerships, finding angel investors, borrowing from friends and family, etc.

What it will take to do a no money down deal

It will take time, discipline and determination.  Successful ones are those who are willing to put all their efforts into finding those rare deals and seeing them to their fruitful end over and above a lot of their competition.  Sometimes, in spite of great effort, some are not so successful, and as a result, have ruined relationships and potential huge liabilities for promises made and not kept in a deal gone bad.  Market conditions can be unpredictable, numbers can be skewed, trust can be broken in a heartbeat, and you could be in worse financial condition than when you started with nothing.

Very persuasive sales presentations will make it sound easy, that there are thousands and thousand of deals with many different approaches, and that a lot of people with money are chomping at the bit to invest with anyone with a deal.  Maybe there are a lot of people sitting on money, but if it were Aunty, she would rather invest it herself, or get into a deal that had a huge guarantee of payoff and security.

Using other people’s money or credit also means that your profit is smaller, depending on how the deal is structured.

What to do instead of no money down?

Use discipline and determination to save up some money.  This will take patience.  2 rules for wealth are spend less and earn more.  Sounds simple, but simple is the usually the best solution.

Once you earn more, you can owe less, and own more.  Meir Ezra gave that same advice for people who get a windfall of $1,000,000.  The first step, he said, was to economize.  The next was to pay off every single debt.  After that, figure out what brings income to you, and increase it.

Use your money to make money.  Rather than be the one that goes around finding people to borrow from, become a source that lends out money at rates that will compound your cash.  It starts off slow and then starts to snowball.  Be VERY careful of who you lend to, and what it is for.  Even a seemingly no-brainer of a good deal can go awry, and if it does, you want to benefit from that rather than be the loser.

In any case…

If you are in a deal that you are putting together, or a deal that you are participating in, make sure there is good communication.

Aunty and Uncle were in a no-brainer of a deal with a few other investors, and everyone was getting a bit hu-hu (angry) because the controlling managing partner was not keeping all of the players informed.  For awhile, it seemed like the deal was a pretty bad one because of poor accounting and a void of communication, and Aunty was getting riled up by Uncle who was getting riled up by some of the other investors asking him what was going on?  It turns out that everything was going fine, the project was a cash flowing solid piece of investment, and we were all on the same page of understanding once a meeting was held.  The rebellious confusion that was starting to brew could have been avoided in entirety had we all been communicated to, on a regular basis from the very beginning.

Vice versa, if you are the one putting together a deal, communicate, communicate, communicate.  The less money you have in the deal, the more you owe honesty and communication to your source of funds.

One day

Some people can easily put out a deal, or even just an idea of a deal, and have people waiting in line to invest with them.  If you are in that position, then congratulations to you!  That is a position that you need to earn by winning the trust of your fellow investors.  When you are at that point, always put their best interests before yours.  Under promise and over deliver.

But not for us

For Uncle and Aunty, we are like the turtle – slow but steady, using our own money and our own credit to get bank loans.  Fast and furious rabbits may reach the finish line faster using other investors’ money, but they may also fail faster and more furiously.

Aunty was like the impatient rabbit in her younger days.  Over the course of my rather long life,  I have “invested” in ways that were more like gambling than income producing.  I never sat down to add up all our losses because I knew it would be an ugly number.  It took years of going to trainings, listening to webinars, subscribing to gurus programs and getting lessons from the school of hard knocks before I learned better discipline.

One of the greatest virtues that I have only just recently gained is that of patience.  I used to always look for the spectacular and instant gains.  This resulted in lost opportunities to take decent profit because of greed or jump into bad deals.  During the last 4 years, I began investing in rental real estate, learned about options trading the safer way, and began building our retirement accounts with steady investment opportunities.

It felt excruciatingly slow.  No home runs – just a base hit here and a base hit there.  Occasional set backs were because of my old habits of shooting for the big win, and those losses were made more real by having them cut into the slow and steady gains that were being made.  Because of my new found virtue of patience, our up coming retirement is now very possible, and the wonderful and beautiful compounding effect is beginning to kick in!!  We are now on track to our retirement income and lifestyle goals.

If you have no money

Work a few more hours, get a part time job, find ways to generate additional income, read up and implement recommendations on how to save money.  One of the best pieces of advice that I have come across is by Mark Ford of the Palm Beach Letter.  If you subscribe (subscription is free!), you will be able to access the excellent article that teaches about 3 buckets for wealth – spending, saving, investing.  It is called “The Secret of the Golden Buckets” and it is truly golden advice for anyone starting off.

If you have money

Invest wisely, and grow your money.   Of ALL the newsletters, programs, events that I have taken, the Palm Beach Wealth Builder’s Club ($1250, refundable) is the platinum standard of step by step do-able lessons that are presented methodically and deliciously.  Rental real estate,  income for life premium, living rich, retiring next year, extra income project, how to start a business, and more.  The main contributor is Mark Ford, and he lives what he preaches, very successfully.

The main thing is that you take action.  To quote John Greenleaf Whittier, “For all sad words of tongue and pen, the saddest are these, “It might have been.”

The best way to get wealthy is slow and steady, not fast and risky.   “But I don’t have any money” is the most common cry and stops most people in their tracks.  Successful people will find a way so they do have money to invest.

The following are a summary of programs/authors/subscriptions/methods that I have tried and my recommendations based on personal experience that are specific to wealth building:

Michael Masterson

Michael Masterson is a prolific author of many wealth building strategies.  I highly recommend his book “Automatic Wealth” as a blueprint of setting your path to success.  I have learned to make better use of my time using his 7 year/yearly/monthly/weekly/daily/hourly planner method.  The magic of his method is that it encompasses more than just the financial aspect of your life.  You will also include your health, personal life, social aspects, and spiritual if you so desire.  Michael writes a column on an occasional basis on Early to Rise.

Mark Ford

aka Michael Masterson, now writes on a regular basis for the Palm Beach Letter (subscription price of $99 annually).  He explained why he changed his name, and it really doesn’t matter to me because this man is a genius at giving valuable advice for wealth.  If Aunty could choose just one source to recommend for money, investment, income advice, it would be Mark Michael Masterson Ford.  Aunty just signed up for his Palm Beach Wealth Builder’s Club.  The subscription cost was $1250 for the first year, and $87.50 annually.  To tell you the truth, Aunty almost called to cancel when I saw the charge on my credit card statement during an especially tough month, but I looked back on what I had received in the recent lessons, and knew that this was the “club” that had the strategies, support, and answers that Aunty needed in order to stay the path to get financial independence.  Aunty will share in cliff note format what I have learned as the lessons are flying into my email box, but to truly learn from this best of the best, Aunty recommends that you subscribe because some of his recommendations are not what Aunty would do, but you might, and vice versa.

Hawaii Real Estate Investors Club run by Paul Xavier.  As the months and soon to be years go by of my investing growth, I have come to run the gamut of emotions about HiRei.  I first went there to learn about real estate investing and some of the meetings were excellent, some so-so.  The greatest value I have gotten from these meetings is finding fellow investors who are willing to share what they know, and becoming friends with these people.  I also learn a LOT.  Paul’s depth of knowledge is quite amazing.  His ethics are good.  Sometimes his answers are too abrupt, but they usually ring true.  Come check out this group that meets on the first Thursday of every month at JCCH on Beretania.  Annual subscription is $120, guests can attend a meeting for $15.  Dues and parking are collected at the door, so it’s not a freebie, but it is worth it.

BawldGuy Talking

Jeffrey Brown has a great blogsite packed full of great financial info for the baby boomer generation.  Based in San Diego, he sometimes sounds like a Canadian with a Texas attitude, lol.  Not only does he write insightful witty articles, he also has guest contributors with top dog credentials and information.  One day I am actually going to call him since he keeps suggesting that we do so.  If you have a few grey hairs, check out Bawld Guy Talking.  Smart financial advisor, always learning, great judgement calls.  If you don’t have a plan to get to where you want to go in your golden years, read his blogsite, and give him a call.  Let me know what he says.  If I call him first, I’ll let you know.  [Wanted to let you know that I called Jeff Brown today.  We differed on many grounds, but I must say it was one of the best 90 minutes (!) of conversation and communicating that I have had for eons!  This is a very astute gentleman, and if I were to do it all over again, I would want to have him in my corner as my coach, referee, and friend.  That being said, there may be changes in our financial picture in the near future.  Whatever happens, it has to make sense for Aunty and Uncle, and it has to feel that it is right for us.  Confucious say, “When it becomes obvious to you that you cannot reach your goal, don’t adjust your goal, adjust the actions which you are taking.”  Bawld Guy Jeff Brown is something like a modern day Confucious.  Someone worth paying attention to even though his current target market is Texas and mine is Las Vegas.]

Joe Taxpayer

Joe is a smart young man with a common sense approach to wealth.  www.JoeTaxpayer.com, Financial Commentary for the Average Joe.  Joe is on the side of people like me – he calls a spade a spade.  One example is his research and rebuttals about a mortgage pay down program, the Money Merge Account by United First Financial .  This MMA program costs $3500, an overpriced multi level marketing scheme.  Joe even provides a free spreadsheet (see his page – the first link is his excellent and easy to use worksheet – highlighted in green – his MMA worksheet) that you can use to plug in your own numbers to pay down your mortgage faster, and if you use the $3500 as an initial principal payment, you are already much better off than buying the web-based MMA program.  HOWEVER, now that we are investors, paying off one’s mortgage as fast as one can is not the best use of discretionary income.  Joe’s website is a good one though not biased toward real estate.  It is a middle of the road eyes wide open and geared to opportunity kind of place.

Raymond Aaron’s Wealth Creator Program

I heard Raymond Aaron speak at a recent HiREI weekend event.  His system on goal accomplishment was excellent.  As a result, I signed up for his Wealth Creator Program.  Not only is Raymond an excellent speaker, he is also an excellent salesman willing and able to share his best tips and secrets.  He invented the MTO approach to goals.  M is for the minimum level of a goal – what you can be counted on to achieve, T is for the target level – which is a stretch, and O is for the outrageous – what you are sure you cannot achieve (but may end up achieving because you will be on a roll!)  If he ever comes to town again, make sure you sign up to hear him speak.  As an example of his high level teaching style, here is an interview with Robert Kiyosaki (Rich Dad, Poor Dad) that he sent to subscribers:  RK Interview.

I just started reading Raymond Aaron’s newest book “Double Your Income Doing What You Love”.  After a few pages in, I can tell – this book sparkles.  Its title does not do it justice.  This is one of the few books that are truly life changing.  I will write a book report after I read it.  Buy it if you can.

*Caveat:  Watch your expenses whenever you buy a program from a guru or mentor.  Some will sell you a program that allows you full access to resources/communication for a year, some will charge you fees on a monthly basis for a minimum of a year under contract – and these can be pricey!  Multiply what you are paying for on a monthly basis by 12 (months).  That is your annual outlay.  Ask yourself if it is worth it and you are getting value/action from it.  If it is, continue.  If it is not, discontinue asap if you are able to (READ the contract).  This was the case with Raymond’s program, and I also had to pay a foreign transaction fee on my month charges because he runs a Canadian corporation.

Kung Fu Finance

Kung Fu Girl is on a break, but her free blog has much to peruse.  I look forward to her new posts in the near future.

Robert Kiyosaki

Robert Kiyosaki was born and raised in Hawaii, but has left the islands to make it bigger and richer elsewhere.  I can see why – Hawaii is such a laid back place, not a place for someone who wants to move ahead.  Someone once described living in Hawaii as a slowing down in life – like walking through jello.

When Robert met and married Kim, his beautiful young wife, his journey and trials began, with the lessons that he learned from his “Rich Dad” on the island of Hawaii, as well as from Buckminister Fuller, and others.  He invented a game, wrote a book, got on the Oprah Show, and the rest was history, as they say.

It is Robert Kiyosaki’s books and his Cash Flow game that turned the tide in Aunty’s mindset and Aunty hopes to meet the great man one day soon to thank him in person.

Think Big Hawaii happened over a 3 day weekend on October 26-28, 2012.  Here are Aunty’s notes:

THINK BIG October 26, 2012 Hawaii Convention Center (speakers in order of presentation, names are in capital letters and bold:

REGGIE BASS:

Make the decision that you are going to accomplish the goal. (Be lazer focused in your goal setting)

Make the commitment to make it happen.

Make sure you hold yourself accountable, and have someone to hold you accountable.

Make sure that you have an action plan that is clear, understandable, specific, strategic.

Focus on the right things, not the wrong things otherwise you sabotage yourself.

PHIL GROVE:

Three Essential Skills

1. Marketing – Generating Leads, finding deals, prospects
2. Sales/Negotiating – Converting leads into money making transactionsIf you are great at sales but you suck at marketing, you don’t get at bat. Better to be a better marketer rather than a great salesman.
3. Strategy – what are the transactions and how you do them

Business is about monetizing your marketing. You will spend time or money to get leads. Everything else is about turning that time and money into making money.

For every $100 Phil spent on marketing, he got 1 lead, for every 20 leads, he got 1 lead that made him $15,000. ($2000 = $15,000)

Take dramatic action. To have different results, you must do different actions. Schools don’t teach marketing or sales.

Immigrants are 4 times more likely to become multi-millionaires than US. (sink or swim)

Take 2 sets of notes – a regular one like you always do; and one of ideas – 3 things to do differently on Monday

Life is Good in America. People will fight fiercely to keep what they have, but it is hard to motivate them to fight for more.  This makes people perfectly content to do the same thing that they have always done which gives them the same result.

What is your Motivation? Need produces Motivation which leads to Goal Directed Behavior resulting in Result. [Tony Montana (Scarface) “In this country, you gotta make the money first. Then, when you get the money, you get the power. Then when you get the power, you get the women.”]

*Look up Maslow’s Hierarchy of Needs.

Marketing budget write down how many dollars and hours you will spend to reach your goal. 85% of your time/money on marketing.

Deal flow = marketing, marketing, marketing

Skeptics, Gamblers, and Lucky Gamblers – bad for future

Never stop the machine. Some shift their attention 100% to the operations and let the marketing engine stop, so have to start from scratch.

Your next deal is always more important than the deal you have now. Focus on getting the next one.

Master Sales – or get a partner that is good at sales.

Always negotiate with a carrot and a stick (what can happen vs what you are offering)

Every opportunity has a close – the least-worse option is sometimes the best one.

Learn how to manage the clock – usually at the last possible minute (foreclosure list shows when going to auction – best time is last possible days)

Learn Strategy

Multiple strategies = multiple streams of income

Multiple strategies recession proofs your business. Focusing on a single strategy making money, one day, you start making less money, so do double of what used to do.

Philosophy of Investing

Finance, analysis, Operations – these are critical, but not urgent (traps)

Use Tools – find a lead vs. use a tools to find 1000 leads

Don’t forget about capital – relational capital. Net-worth = Network

A good network builds deals, coaches.

Left brainers: Analytical, hard to get them to do stupid things, but also tend to not do anything. Let your gut make decisions – take the opportunities.

Right brainers: quick decision makers, shiny penny syndrome (want to do it all). Learn to FOCUS.

Think differently! Transformational strategy, unique selling propositions, zero based thinking, value disciplines, focus, relational capital, marketing, branding, strategy of preeminence, chasing rabbits vs chasing elephants, intentional congruence.

*Keep a calendar and keep track of everything we do – get a true picture of what activities are spent on the most important things vs wasteful activities. Then, figure out if you can have someone else do some of the activities for you. Focus on the activities that are important.

The envelope around the business in order of importance in order to get the right offer in front of the right person:

#1 The Channel – the flow, from producer to retail

#2 The Marketing – makes you money. i.e. – the cover of a book with Fabio sells books

#3 The Product – quality, hard work

Phil found the biggest channel in the business, offered to do all the work, etc., they kept all the profits. After that when Phil became branded, the 2^nd product had more weight and he could get profits.

Online Marketing

1. Website for RE – in order to capture leads:Buyer Website – properties available, resources for buyerSeller Website – services for buying houses, resources for sellersWeebly.com for custom websites to get templates
2. Develop marketing CollateralMarketing materials (Phil’s home selling guide) hire via elance.com (free lance writers, market resources, etc.), 99designs.com (creative logo design, stationary, etc.), freelancer.com (writers, etc.)
3. Buy a mailing list – MelissaData.com (hundreds of lists to choose from) or hire a list broker (google “lisr broker”Marketing = message + list. They both have to be rightShort sale list – notice of default list
4. Mail to list – www.click2mail.com.24¢ postcard + 11¢ printing = $35 per 100 postcardsMulti-touch – industry says 4x, every 7 daysMarketing is an experiment – getting the right message to the right list
5. Generate SEO traffic to websiteSEO = search engine optimization, traffic from searces for specific keywords. Google has a formula that no one has access to. Having links back to your website gives you a higher score – Being at the top is very valuable. SEO is a science and art form – too much time and effort. Shortcut is to use press releases – gets your site/company referenced in lots of recent, relevant sites, short, simple “LAH launches new national program to allow any homeowner to sell their home…” PRLog.com, Free-press-release.com, PRWeb.com
6. Local online listings – local advertising. Register self at Google Places, Yahoo local. Use company address, that will show as the address on the map. Google.com/places/ http:listings
7. PPC for immediate paid traffic = pay for click advertising for a fee in which you pay each time someone clicks on your ad.. Pay and Google will put you there – they are in business to make money. 85% of the time potential viewers click on the top listings.
8. Social Media – Facebook.com, Linkedin.com connect with peopleKeep it simple – set up Facebook – create a fan page for your business. Do videos and post them on Facebook, linkedin, etc. pages. Link to your website. Add friends, customers, associates. Communicate with them – success stories, problems solved, status, partnerships
9. Communicate! It costs 7x more to obtain a new customer vs doing business with someone that already knows you. Work what you’ve got first. Offer them valuable products and service, and valuable content and resources.
10. Auto responders – series of emails automatically sent to prospects.Most common response to a REI offer is “let me think about it”. Instead of trying to offer more money, etc., follow up instead. Auto-responders keep you in the deal until the deal “bakes” long enough to get done. www.aweber.com more than doubles the conversion rate.Professional tools to manage emailing to your list.

Email and online marketing to investors/realtors. Post wholesale deals to buyers list. Market and economic updates, invite to events.

Get people to go to your website.

Offline marketing, develop marketing materials, buy a target customer list, mail to list

Online marketing – PR to get organic traffic, local listings, PPC to get paid traffic

…………………………………………………………………….

CHARLIE DOMBAK, CPA MBA tax strategist

worked with tax attorneys for 6 years, founding member of Optimal Financial Group

Comprehensive Financial Planning

Have legal separation between personal and business – use entities = corporation, LLC, Limited Partnership. Each has unique attributes depending on business.

Attorney that knows legal and tax aspects of entity structuring, form separate entity for various investments, specialized.

Insurance agent gets 100% of 1^st year’s premium, check policy accuracy. Best deals when you interject competition into the picture.

Financial Planners have financial incentives to keep you in a certain fund. Fee based fiduciary are best for your own monies.

Accountants – historians, specialized

Partnership LLC for investment class recommended by Charlie Dombek

Tax mitigation – overpaid income tax

Current enforcement trends. Enlarging tax gap, 6,000 new auditors, 30% increase in small business audits, less audits of large corps, higher audits for thosE making more than $1 million.

Coming? Personal income tax increases, higher tax rates on savers and investors, igher social security wage caps added up to a 15.3 % surcharge, higher taxes on marriage & family, return of the death tax.

Romney plan – fairer, flatter, simpler – permanently extend cuts, repeal AMT, reduce individual rates, reduce taxes on savers and investors, repeal federal estate tax.

Which entities are best? Avoid sole proprietorships (no separation, only protection is insurance), single member LLCs (not for active business, taxed like sole proprietor, legal shortcomings – in some states can order judicial foreclosure like in Hawaii), general partnerships (responsible for partner’s activities and liabilities).

Corporations fit best for active businesses (not investment activities). C Corp is a separate legal entity and files and pays taxes on separate returns. S Corp is a flow through entity.

Control Garbage Tax (FICA, FUTA)

S corp gives the most control over payroll taxes (garbage taxes) ideal for small business, internet businesses, flips (dealers)

S corp paid in 2 ways, paid through payroll, paid as a draw. Called John Edwards income splitting technique. Split income in a way favorable to you, and compliance with IRS with proper compensation formula.

Negative legal and tax consequences to holding assets in corporations. Investment assets with passive income change to income in corporations.

In a Partnership, the entity cannot be liquidated if held in partnership. Distributions are able to be used if there is a claim against a partner.

Only entity type that benefits investors best are partnership LLCs. Because partnership, have ideal legal and tax structure. Segment assets according to risk.

How to segment risk for real estate investors. Parnership LLC for residential properties (must be taxed as a partnership for maximum asset protection) set up as a holding company (has charging order protection which owns shares of several single member LLC that is disregarded for tax purposes, each owning a piece of property.

Operating agreement –

non assignable interest – partner cannot assign interest to creditor

no power to demand distributions – can keep distribution within LLC

non disclosure provisions,

non pro-rata distributions – can distribute 100% away from partner in a suit

special allocations – use to minimize taxes

poison pill provisions – person holding charging order may get saddled with tax liabilities of LLC

charging order limitations – non liquidating charging order – sole remedy. Annual distributions is the only way to liquidate.

C corporations pay tax at their own rates. (doesn’t want as first choice because of payroll double tax) Corp rates are graduated, usually lower than individual rates. Only entity type that can pay pretax fringe-benefit expenses such as medical payments, etc. Ability to have fiscal year end.

When you have significant income, set up a management company (C corp) that the Partnership LLC for Real Estate pays management fee. The C corporation pays tax deductible fringe benefit expenses.

If you have several (partnership LLCs,) pays management fees to the holding LLC.

Retirement plans:  IRAs, No ERISA protection, not bankruptcy exempt, require same contribution for employees

Qualified Retirement Plans:  401(k)s, pension plans, defined benefit plansare exempt from bankruptcy proceedings and creditory attack, have discriminatory funding formulas

How: Partnership LLC for investments pays management fee to LLC taxed as Corporation (as management support)

Can use retirement plans to take income off tax return – train income stream to flow into a retirement plan. Retirement plan expansion structure. PreferredLLC turbo charges our retirement plans. The tax deductible retirement plan pays into retirement plan expansion structure with preferred and common members, holds

Preferred LLC . Your tax deductible retirement plan feeds your tax-free Roth by routing all investment returns above 6% annually to your Roth. Company plan goes to preferred, goes to common, ROR beyond 6% goes to Roth IRA

Preferred LLC example $100,000 investment with 18% return.

Net earnings: $18,000

Taxable deferred earnings: $100,00 x .06 = $6,000

Tax free earnings: $18,000 – $6000 =$12,000

tax saved: $4080

developed by tax attorney out of St. Louis

captive insurance companies – the anti millionaire tax strategy.

Primary business structure pays insurance premium up to $1.2 million annual to a Captive Insurance Company (you as a business owner owns) Is a fully licensed insurance compnay, governed by section 8319B0 of code, are 100% owned and controlled by shareholder, no restrictions on investments, can be used as rainy day funds.

Audit proofing – never file your taxes late, avoid paying taxes late, avoid matching issues, ratio analysis – scored when deductions are too high to income, etc., be careful with travel, entertainment and auto deductions.

For highly contested deductions. Five tests – valid date, receipt, amount, reason, relationship for entertainment, car & truck expenses – have mileage log, credit card statements are not considered receipts, business/asset acquisition travel

if you are traveling to look at your line of work it can be deducted. If you are traveling with expenses not in your line of work, not deductible unless the deal is done.

Charlie will move any properties on Schedule E to a partnership LLC and file a separate tax return. No protection if the property income shows up on your personal tax return.

…………………………………..

Day 2 LINDSEY JEAN: Irresistible Influence and Wealth Creation [Aunty’s note: this was my favorite presentation]

Simply show up. Go to events. Do what needs to be done in the best way you can.

We do business with people we like the most.

For each of the statements below, write down the letter that you agree with the most:

When I have an opportunity to meet someone in business for the first time, I am:

D.  outspoken & direct

I. Spontaneous and funny

S. Welcoming and friendly

C. reserved

In business, I consider myself to be:

D. competitive

I. passionate and animated

S. peaceful and laid back

C. diligent and dependable

The traits of someone I do not interact well with are:

D. slow and indecisive

I. meticulous and critical

S. controlling and insensitive

C. unorganized and chaotic

Your time management for business would best be described as:

D. efficient

I. move quickly to the next fun thing

S. go with the flow

C. systematic and prompt

In relation to leaders in business I tend to:

D. be the leader

I. hate directions

S. want the best for everyone

C. like exact instructions

In business, I tend to be:

D. bold and determined

I. spontaneous

S. calm and even tempered

C. predictable and conservative

When given an assignment, I am:

D. productive

I. creative in finding solutions

S. focused on helping others

C. diligent and detailed

After writing down our corresponding letters (D, I, S, C) and tallying them by majority (i.e. if you had 4 “D”s then you were in the “D” group) we broke into our groups.

Everyone was to describe themselves, in one word, both the positive and negative, and someone recorded the responses. Each group had similar characteristics, very different from each other, needing different approaches.

Characteristics of the types are:

D type: dominant driven determined risk takers, results oriented, decisive, efficient, enjoy challenges, achievement driven, influential, innovative, but can be can be like dictators, bossy, impulsive, talk over others, insensitive to others. Their appearance: sharply dressed, quality clothing, wear jewelry, walk tall, have aggressive handshake, confidence in their demeanor, image conscious, talk fast, manicured hands. To make an impression on this type of person, need to be business-like, straight forward, assertive. To impact them, talk about the possibility of financial gain, get to the point, stay focused, show them what is in it for them, let them believe that they are in control. Listen attentively to their ideas, do not interrupt, be as agreeable as possible and try to build them up.

I type: influencing interactive inspirational, extroverts, passionate, risk takers, emotional, magnetic, animated, very social, stimulating, impulsive, full of life, but can be easily distracted, unrealistic, defensive, impulsive, too talkative, totally disorganized, tend to be late, too much drama, tends to waste a lot of time, not taken seriously. Their appearance: dress in bright colors, trendy, fashion conscious, love jewelry, bright makeup, tends to flirt, flatter, and touch a lot. To approach them, you need to be enthusiastic and upbeat, active and motivational, talk about exciting opportunities for possible cash for spending, make them the center of attention, visual stimulation, provide positive and fun environment. To impact them, be animated, use emotion, analogies, stories, allow them to be vocal and welcome their input, introduce them to important people and help them visualize what their future can look like.

S type: stable supportive sensitive, nurturing, agreeable, considerate, reliable, truthful, endlessly loyal, excellent listeners, compassionate, team players, giving, committed to providing service, and sensitive to the feelings of others, but can be indecisive, overly passive, overly supportive, providing help to a fault, tends to hold a grudge, sacrifice results for the sake of harmony, overly accommodating, Their appearance: casually dressed, wear earth tones, longer hair than most, soft spoken, laid back, calm, passive presence, more natural looking with less makeup. To approach them, be easy going, laid back and genuinely interested in building a relationship, be slow paced and not in a rush, ask about family, take time to build trust, recognition, inclusion, create vision of family life and cohesion. To impact them, be engaged, understanding, provide genuine sincere caring answers, tell them what to do in a supportive way, helping the greater group.

C type: controlled, conscientious, cautious, meticulous, orderly, high standards, professional, does diligence, organized, accurate, analytical, very high regard for integrity and systems, but, can be rigid, too critical of others, appear unemotional, stand-offish, aloof, don’t like change. Can over analyze. Their appearance: dress conservatively and professionally, wear blacks, browns, greys, tend be well kept, manicured, business like demeanor, pens in pocket, carry briefcase or portfolio. To approach them, be business-like, professional, accurate, slow pace, systematic, have outline, give facts, present in logical structure format. To impact them, be detail oriented and precise, do not over-embellish, ready with supportive documents, do not pressure, need time to process and evaluate.

Cater your personalities to communicate and relate with others. First you need to figure out what “type” the other person is and approach them accordingly. Look at how they are dressed, and then ask them a question, so based on their answer, you can figure out their type. Listen, observe, find their hot button to get them interested.

People like to work with people that are like themselves, so it is best to work with people you get along with. A business team needs all components and not too much of any one type.

DISCprofile.com website – gives full profile – 2 ½ hour test ~ $100 .

NLP = Neural Lingistical Programming – the unconscious brain and how it reacts. 90% is unconscious. We have belief patterns based on our life’s history. Brain does not process negatives (can’t don’t won’t) so always put things in the positive rather than the don’ts, etc.

One way to win and influence people is by mirror/matching them – speak slow if they speak slow, fast if they speak fast.

We move every 60 seconds. When you first approach people, pay attention to body movements. Most of the people will mirror the actions of the dominant person at the table – subtly copy what they do and do what they do. To test if you “have” them, do a body shift and they follow – you do have them. If they don’t follow, then go back to mimic them and then test later. C types take the longest to win. If you don’t “have “them, don’t ask. Talk to them later.

…………………………………………….

PHIL GROVE day 2

3 essential skills – Marketing (65), selling (10), strategies (12).

Advice to newbies:

1. 1^st deal should be a low risk deal. No money but a lot of skill needed.

2. Learn a lot.

3.  Don’t learn too much (take action).

4.  REI, like all business, is a numbers game that starts with marketing.

5.  Don’t try to do it all yourself. You will fail.

MARKETING – finding deals

65 methods – some paid, some free

Free: door hangers, stickeis, etc., letters of intent, business cards, FSBO marketing, magnetic signs, professional referrals, networking, realtors and the MLS, REOs and HUD foreclosures (get list, make random offers on all of them), door knocking, driving for dollars, past customer referrals, bird dogs, wholesalers, bulk REOs, social media, blogs/curation, search engine optimization, website, local search advertising.

Paid: direct mail – tax late, pre-foreclosure, divorce, probate, modeled list, bankruptcy, non-owner occupied, section 8 landlord list, bandit signs, mass media, newspaper ads, online advrtising, paid lead, affiliate marketing, pay per click advertising, REI matcher.

Phil’s top 6 Google pay per click, direct mail, paid lead service. Driving for dollars (make a list of abandoned houses) local search, craigslist

Big takeaway – #1 job is finding a deal. Most investors fail because of insufficient marketing.

STRATEGY- different ways to make money

referrals, buy & hold, house swapping, auction/option, lease/option, contract for deed, fix and flip, equity partnering, mortgage assign, wraps, wholesaling, short sales

cash = fast, advertise self as a cash buyer.

wholesaling – get property under contract, sell or assign the contract for a fee.

Buying subject-to – agreement to pay seller’s mortgage in exchange for the deed. Find motivated seller that does not want to pay their mortgage or else they face foreclosure. The catch is that they have to sign the deed over to you. (2 docs that matter – deed and the note. Whoever’s name is on the deed is the owner, the name on the note is the one who owes the money) Then you can renovate/retail, wrap, rent,

Fix & Flip – but property, renovate and sell retail. Most people underestimate cost of rehabbing by 50%. Must remember that it is NOT your house. Miscalculate what the house will realistically sell for. Non investment minded realtors tend to tell you what you want to hear, not necessarily the truth.

[Ace that you pull out when you have to get the deal] Equity Partnering – Subject-to (no $$) (with IOU for future profit share) partner with the seller and agree to share the profits. Renovate and retail.

Left brain close: when trying to negotiate with seller, negotiate profit, not price. Do a numbers close. Works well with one exception – the magic house. Then, use the magic close – get their numbers (how much they think it is worth, how much they think the rehab will be)

House swapping – trade house for house (no $)

Option-auctions buy the option contract (no $$) sell at retail auction get house on option.

Mortgage payment assignment. Buy and just get under contract w. standard master agreement (sub-to w/ option), sell by assigning contract for a fee. 82 million people that are not qualified to borrow – looking for houses that are financed.

**Buy and Hold. Sub-to owner finance conventional, rent, or sell retail in 5-10-15 years.

Million dollar plan. Buy $10 million of subject-to properties, rent them, wait until the market goes up. ****10 years from today is dependent upon what you do today.****

Listing referrals and combo plans. Do marketing for sellers, selling lead to realtor on your power team.

SALES – negotiating

Whenever send offers, have option period and subject to inspection.

Always ask, by the way do you need to have another house?

All-in-One Done-for-you video encyclopedia, one password, marketing, strategy, sales done for you.

REI marketing manager – seller website, seller squueze page, buyer squeeze pages, professional website, optional (paid) lead services, private investor MLS of owner finance deals, wholesale deals

…………………………………..

JT FOXX

Think bigger so great things can happen.

Disrupt the normal.

3 keys –

1. all about relationships. Monetize relationships. People invest in people.
2. Marketing – branding is the key. Always better when someone sells you than you sell yourself.
3. Perseverance

go from survival to competence to confidence to success to significance to legacy.

Broke people are always busy, Successful people are always productive.

………………………………………………

BRUCE BUFFER official voice of the UFC and business and marketing and entrepreneur, told story of his businesses, life.  [Aunty took a picture with him!]

……………………………………….

Day 3  JT FOXX after an evening out and stuck in Waikiki because of tsunami warning

Strategic thinking – paint the picture for them.

“they can copy the how, but they can’t copy the why”.

The more exclusive you are, the more money you will make.

Won’t have everyone liking you -i.e. to be President with 51% of the vote, which means 49% don’t like you..

NIDO QUEBIN video highlights BetterLifeMedia.com

Examples of McDonalds, Prudential – people want to buy if you think of how to make people feel.

Pain of discipline vs pain of neglect. Performers focus on results, non performers focus on obstacles.

Do a Stop Doing list, rather than a To Do list.

Any improvement in our lives come as a result of change.

Why should people to do business with me? How easily can someone else imitate what I do? If I were to buy what you have to sell, would I think of you first, second, at all?

Brand awareness okay, brand preference better, brand insistence – best.

Great people have great attitude. Bad sandwich story. Your attitude expressed on the outside of you is the commentary of the person who resides on the inside of you.

……………………………………..

JT FOXX resumes

Awareness – who you are, what you stand for, your mission statement, to become successful you have to be uncomfortable. Always be uncomfortable.

Education based marketing – build on client’s success.

Consideration, WIIFM – what’s in it for me. Show the immediate benefit of taking action now.

Action – want to be first to market – Innovation, determination, engagement, action.

The choices you make determine the reality of your outcome. How you change is how you succeed.

Branding – key. You want to be the authority in your field.

What gets measured gets managed, what get rewarded gets repeated. Know your numbers – what is working, what is not.

New Rules of marketing

1. dominate (your niche) SOV = share of voice – have your own authority
2. innovate – how are you different, stand out from everyone
3. illustrate – CEO = chief experience officer
4. articulate – move yourself from perception to consideration – move from”thinking about” to actually doing.
5. Create the experience – inner engineering – clients want to buy the experience
6. brand advocacy – reputation = brand, the brand doesn’t make the company, the company makes the brand. Brands are mirrors – want people to connect with you.Have authority, respect, aura of authenticity,

………………………………………………..

PHILL GROVE day 3

Branding How to

Started off not being on Google as the #1, now he is for Austin real estate investor

[ example of Houstons in Austin has best French dipped sandwich – Schiner Bock beer was Phill’s favorite beer to have – an insistence that he have that kind of beer.]

Brand – the personality that identifies a product, service, company, or person. People describe a brand in terms of their: thoughts, feelings, perceptions, images, experiences, beliefs, attitudes towards the product, service, company, or person and how it relates to others.

Value of Brand Awareness = 1, Brand Preference = 3, Brand Insistence = 10. Brand Advocacy is even more valuable – not only insist on using the brand but tells others about it = 12. “Life is too short to have a PC.” = the brand advocacy of Apple computers to an Apple fanatic.

How to get to brand insistence, brand advocacy is to give WOWs. Wow’s are anything that’s better than your competition. Examples: send a Christmas card, stay open past 5:00 pm, invite your customers to a special event, unexpected service. Avoid Un-Wows, i.e. un-returned phone calls, the run-around, a stupid customer service person.

You are a brand, and so is your business. Your brands are constantly “being built” with or without your attention. Googleability is key in today’s market. Good branding makes deals and business come to you, bad branding makes people avoid you.

Purpose of the marketing department is to eliminate the sales department. Good marketing makes the sale easy. Purpose of the branding department is to eliminate the marketing department.

You only get ONE chance to make a first impression. [Phil wore a suit to create a good impression.]

Branding starts with a name, or 3. For real estate, need 3 brands for different audiences – motivated sellers, buyers, investors, other services. Need 3 or more because the message is different to different audiences. [ We buy ugly houses – we sell houses by we-buy-ugly houses]

Brands take on identities (max 2-3) [ sony has a chemicals business, motorola makes bar code readers]

Motivated seller branding: audience is motivated seller, attract realtors, attorneys. Target audience wants to sell fast, no cost, no credit harm. Message, we buy houses, cash, fask, any condition, any problem = no problem. USP – Unique Selling Propostion, AMPS, solutions. Brand Equity value is low – few repeat customers, always ask for testimonials anyway.

Investor branding – other investors, power team members. What does your audience want – not to loose money, want money back with a nice return, want it back fast, ability to rinse and repeat. Message – we offer high return, low risk opportunities. USP – why would they want to do business with you. Brand Equity Value is super high – automatic deals, ask for testimonials.

Buyer branding – owner finance buyers, any buyers, realtors etc. Message – rent to own (higher response rate than “seller financing”) No bank financing. USP we do what realtor’s can’t to.

Generally recommend doing business in an entity LLC, LP, Corp. The entity that actually buys property (enters into contracts) is probably the Investor brand (or possibly the seller brand)

Consider doing dba (not really a company but using a different name as the master company), will simplify the business structure. Too many complex corporate structures for beginners not good. Instead, simplify and focus on building the business.

The 3 phases of being an entrepreneur.

1. The new entrepreneur looking for the 1^st deal – goes to intermediate entrepreneur – sometimes get stuck because they think they have it figured out, gets stuck at a certain level.
2. The advanced
3. The guru

The new entrepreneur – needs websites, business cards, voicemail message, REIAs and professional organizations. Watch your message – people don’t just listen to what you say, they watch what you do. Etiquette, USP – unique selling propositio, elevator speech, borrowed credibility (“my partner has done over 1000 deals”), aura of authenticity (at top of all George Ross’ leases even though he has 19 of them, they are called “Standard Lease”. Phill changed all his contract names to “Standard Master Agreement” and it makes things a lot simpler), mindset.

Website – most important is to capture leads. If you make people click on one more tab or link, you lose 50% of the people. Branded logo, social media integration, etc.

Business cards – getting to be billboards, making them look cool. Purpose is to exchange contact information, part of your brand. Ask “would Donald Trump do it”. Professional business cared– limit to logo on upper left corner. Name of company at top next to logo. In center of card, your name, your title (senior managing partner, etc.). Under that put your website: www.company.com. Put phone number on card, don’t put “cell phone” and your phone number, O: (808) 123-4567, F: (808) 123-7890, email address on the bottom left corner. Put your company email, i.e. aunty@honoluluaunty.com

Physical address on the bottom right corner. Leave back blank. Or, put picture of a project you are working on – little conversation starter.

Etiquette: Blocking and Tackling. Have great manners. Act like you belong. Dress for success – how you look – shoes, hair eye brows, grooming. Insert yourself into high net worth situations – benefits, charity events of the rich, the right parties. It can take time. Donating $10,000 to United Way, you get on the “list”. Surround self with wealthy people Have an elevator speech, include a USP. Professional storefront – company name, branding, etc.

[Case studies –

1. Magic Trick Guy – poor dressed, missing teeth, stood in corner doing magic tricks, kept following around Phill, got into his personal space. His intro was “I can transform a $200K investment into $200B in under 3 months”. His brand was Crazy.
2. Bulk REO guy in WDC – listend to webinar, bragged about success, intro looking for $50M. His brand was Idiot.
3. Real estate club guy (multiple). Claims to have great deal but if you look into it, it is not a good deal. Brand = Rookie.
4. Sharp looking kid at Billionaire Class – dressed shart, spoke well. Talked about working long hours, studying, training, doing marketing, looking for a good one. Brand – Go-Getter]Your USP – Unique Selling Proposition – if you have one, you have Super Powers. “I can sell your house in less than 30 days, at no cost to you and at no harm to your credit, even if you have little, no, or negative equity.” (as investor) “I list homes on the MLS, like other Realtors, and use 12 additional strategies to sell homes, that other Realtors don’t even know.” (as super realtor).

Elevator speech – 15 – 30 seconds. Who you are, USP

Phase II – The intermediate entrepreneur.

1. position self as the expert. Make presentations to title companies, REIAs, meet up groups, etc.
2. Elevator pitch – update pitch – leverage experiences
3. brand leverage – leverage partnerships, affiliations – bought the preferred national vendor for short sales of Kenner Williams $5400 check to them.
4. host beneficiary relationship 0 use 3^rd party endorsements – always better than self promotion –
5. orientation package – about me, bio, highlights, press kit, branding with picture
6. social media and google-ability – build presence of Facebook, LinkedIN, YouTube (record all deals) do YouTube video showing deal, etc. case studies, publish, & on side of page all other videos, testimonials. When you do a deal, make a video.

Fan page for business on Facebook, brand yourself as a professional, talk about deals, problems that you are solving. Linkedin – more professional, has picture, various recommendations, has elevator speech, USP, links to website.

7.  Internet Marketing – blog and advance internet marketing.

Phase III – Expert Entrepreneur

1. Host your own events – bird dog breakfast, new entrepreneur group, meet ups, host a training event
2. Loss Leaders – starting your own REI clubs, radio show, etc.helps build your brand
3. Reputation management – bigger pockets, blogs, endorsements, online presence
4. Internet Marketing – PPC, SEO, etc. and advanced traffic
5. Alliances with other Gurus – internet marketing, affiliate marketing, partnerships (i.e. Phill and Jt Foxx)

**************

LINDSEY JEAN – Cash Cow Know How. Single Mom Secrets to Fast Cash Finding Deals

Dave Asarnow High Heels and Hard Hats

how to get deals chasing you rather than you chasing deals

getting cash buyers fighting to give you their money for deals

do it on autopilot from home. Program your mind for success, eliminate any negativity, no excuses, stop complaining, act smarter, not harder, take action & take command of your destiny.

5 quick and easy steps to quick cash (assignments)

1. build team of birddog agents – local professional agents. Most important step – recruiting the right agents that specialize in areas, Right agent – google REO agents, these control the sale. Short sales agents , brand new hungry agents. Use Lyndey’s “hot Deal” handbook.
2. analyze deals they find for you – deal analyzer spread sheet (60 seconds) – determine ARV (after fixed), how much to fix, our offer price = ARV goal 65%. Cost of capital 12%, closing costs 7%, everything is done in the MLS. San Diego 73%, Santa Barbara 85%, Los Angeles 80% San Bernardino 65%. Tell agent to look at what cash buying investors are buying. Over last 6 months, look at rehabbed properties & what they sold for, look at what the investor paid, look at what they rehabbed – put in the numbers. To determine ARV, pull other like-kind properties (comps)
3. submit “yes!” offers – relationship between you and listing agent, how you present your offer. Secret: clean cash offers (no contingencies/appraisals/inspections) buying as is, in as in condition, in other – “buyer intends to sell the property in some point in the future for a profit”. Never lowball – always come in with highest and best. Have agents offer price using deal analyzer. Sometimes make smaller checks – all real estate agents are happy & willing to work with you again.
4. Decide which buyer gets the deal – review the waiting list – who you like the most, who has the most money, text or email blast text their purchase price, rehab, what they can sell it for. Quality of buyer vs quantity. Need integrity, honor, ethics, enjoyable.
5. assign the contract for quick cash Present the deal, escrow manages the entire deal, you will be paid as a buyers consultation fee.

*do short sale offers – LOTS – because they are taking such a long time.

Better to be a normal investor rather than agent – less fiduciary duties. Can be signed on as their assistant 7 have access to MLS.

Not about who you know, it is about who knows you.

Find Cash Buyers (ask them what they want & how much they would pay for it), then find the houses that they want (using your real estate agent) = the secret formula.

More people have invested in 2012 ($11 billion) than 2010 and 2011 combined.

(sold her program to many of the attendees. Aunty did not buy)

…………….

JT FOXX

follow through, speed of implementation, trust but verify. No excuses, crazy 8 – 8 people, talk to them 8 times, over an 8 month period, circle of influence.

Credibility equals power, power equals access, access equals brand.

Four steps towards getting branded

1. Personal Branding – this is you – creating the brand – featured on “self made list” website featuring pictures and profiles of celebrities and other successful entrepreneurs – including you! 10,000 twitter followers, facebook/linkedin/google fast track 9social media in 7 minutes with Curt Maly $1997 value), the art of building brand equity Cds
2. Brand monetization – leveraging the brand to make money and have deals come to you
3. brand innovation – growing the brand through innovations and brand associations
4. brand identity – promoting and refining the brand with advanced techniques

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All in all, it was a VERY long weekend. On a scale of 1-10 with 10 being the best of the best, Aunty would rate this event as a 6. Better than most, but the content wasn’t really there. It was as if JT Foxx wasn’t really excited to be there – perhaps because we didn’t fill the room with prospects. For myself, most of the presentations were repeat performances – and so the newness of the message was diminished.  However, the messages were still very good, especially if hearing them for the first time.

Raymond Aaron (does a program on the Monthly Mentor with daily videos sent to Aunty’s email) was not there, which is a big void in this group. Interestingly enough, Phill Grove ran out of time on the third day and did not go into his 9-9-9 which sounded a bit like Raymond Aaron’s 10-10-10 of getting a book written, formatted, and published in order to create one’s “brand”.  Aunty misses Raymond Aaron’s excellent presentations.

Hopefully these notes are understandable to readers. If you have any questions, just send them over as a comment and I’ll see about finding the answers.

Mahalo for reading through a very long report!