Real Estate Investing Mentor Shows Stay at Home Mom how to flip houses
www.localmentor.com Colorado real estate investing mentor Michael Jake teaches a Stay at Home Mom with 2 kids working only a couple hours at day at investing. Michael Jake with reveals how real profits are made even in a down real estate market. Strategies shift as markets change, but enormous fortunes have always been made in the down times. Your first deal usually takes more than what one can learn in a fly by night seminar. A Mentor or Coach who can work with you completely through your first deal can make the difference between ongoing frustration and actually cashing your first check! For more Colorado Real Estate Investing Training See http
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Categories: Real Estate Videos Tags: Colorado Real Estate, Couple Hours, Profits
Wealth Building Through Land Flipping – Re-Investing Your Profits
Often my clients and students ask me how I made a fortune in Tax Delinquent Real Estate Investing. The answer is obvious, by making over 5000 Real Estate Transactions since 2002 and making money an virtually all of them.
But then I realize that there is more to it than just making deals. The proper mindset also needs to be there in order to consistently make money and in order to build that Fortune up over time.
And this is when I usually get blank stares from my students. All many want to do is do a deal that nets them 20K or 10K or 50K and then go and use that money to buy the Doo-dads and toys they were craving for. While I own a lot of toys and “doo-das”, this is not what I recommend any starting investor do.
Instead of taking the profits from your first deal and spending it on that new car, you should take that money and reinvest it in your business. By doing this, you effectively and massively SUPERCHARGING your pool of money to work with an with time can go after more and more and bigger and bigger deals and make more profits.
Did you know that $10,000 invested with a 30% return (something easily available in the Tax Delinquent Investing World) over only 10 years leads to over $137,000, whereas if you take the even only 20% of the profits each year off you will only end up with less than $2600? That is the power of compound interest. Use it and you will succeed, work against it and it will KILL you.
So if you goal is to buy that new car for $40,000 you should not use the first profits right away to buy it but instead you should re-invest it into your business, continue driving that old car you have until you have made enough money that taking a chunk out for that new car barely affects your portfolio.
That is how the rich get rich, and how they drive their cars. Most rich people actually don’t drive big cars, because they know what it will do to their future earning. Taking out $50,000 of your investment pool today could translate to “missed earnings” of several million down the road.
By: Jack Bosch
About the Author:
Jack Bosch began investing in real estate in 1999. Along the way he discovered a secret system of buying land for literally pennies on the dollar and reselling the property for thousands more. Since his first transaction he has personally bought and sold over 5000 properties using his fine tuned system. Jack to this day still invests and profits from real estate, however now he also offers his secret strategy of buying and selling real estate for huge profits to You! You can find his complete wealth building system at http://www.LandForPennies.com and at http://www.SecretLandProfits.com
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Categories: Flipping Land Tags: Power Of Compound Interest, Profits, Real Estate Transactions