| Forum | Contacts | Articles | Partners | Photo | ||
Best photo: ESTATE What Changed My MindOne day while working for a financial planning firm, I was sent to visit an older couple living in Nashville. They had a beat-up old office and drove a dumpy pickup truck. They looked like poor, uneducated bums. It appeared that they could not even read or write well. I talked with them and learned that they did not have computers, they did not understand advanced finance, and they did not even understand a term like return on investments. “Obviously, you are not qualified to work with my firm,” I said as I started to leave the old gentleman’s office. He replied, “Come over here, Sonny.” He picked up a book and paused, “When I was working about 25 years ago and making no money, I started buying little houses without using any of my own money. I’d fix them up, rent them, and sell them.” Then he opened his big old accounting book, the kind with old ledger sheets and the lines going across the page. He kept all of his own records using just that book and a pencil. (He still does.) He owned 125 houses, all paid for, and showed me he had $65,000 a month coming in. He and his wife would go on vacation for six months every year. He looked me in the eye, “Robert, how’s your job?” All of a sudden, young cocky Robert got very interested in this man’s profession: real estate. In the back of my mind, I thought, “If this 80-year-old guy can do it, I can too.” He still picks up rent checks every day and still goes out and makes more deals. He certainly does not have to. For him, real estate is fun. This really got my attention, so I followed him around for several months. I also interviewed 200 other investors and 200 tenants. I put together a big plan for my real estate business, and guess what I did with it for several months afterward? Nothing! As the expression goes, “I was a thinkin’ about it. I was a fixin’ to do something.” That went on for about eight months. During that time, I looked at about 150 properties.Pages: Updates: Being a Real Estate AgentConsultingAfter you have been investing in real estate for a few years, youWhat Changed My MindFresh news: © Copyright 2009 - Real Estate |
||
|
ESTATE |
||