A while back I took a leap of faith and parted with a tidy sum of money with the hopes that Chris Johnson’s “Free Money From The Government” course would help me come up with a down payment on an income producing property. I had already sat through a 90 min sales pitch at the Learning Annex’s Real Estate and Wealth Expo in December, so I thought that I had a good idea of what I was ordering. When the program was delivered, I quickly got right at it and started reading the manuals and I listened to the audio cd’s. The problem was that all of the information on the programs didn’t make a lot of sense to me without the explanation as to how I could use it as a novice real estate investor.
Enter Free Money University
After a couple of weeks debating as how to move forward, I received an invitation in the mail for Chris Johnson’s Free Money University. This was included in the price of the program, so I was looking forward to attending and finally figuring out how to get my hands on that free money. This was a two day seminar put on in a swanky downtown Vancouver hotel. When I arrived I noticed how diverse the crowd was. It appears that the lure of free money brings all types. Anyways I quickly realized that this seminar was as much as a marketing event as it was an informative event. There were some disappointed faces when our explanation of what government grants would most apply to us was interrupted (on six occasions over the two days) by other experts selling their programs for wealth creation. I did, however, find some of the opportunities quite interesting. Most notable was Dr. Al Lowry and his explanation of using leveraging to purchase undervalued properties. Again, it made me believe that if I follow a system, I could accumulate a portfolio of positive income properties. As far as the content that I was really there for, I did pick up many important tidbits of information. Chris walked us through the main programs available, the sites to investigate, and how to submit a winning proposal. This was all information that was available in his home study course, but it was easier to digest, as he was to relate it to how we could use it for our investing.
Where to from here
I walked away from this experience with more confidence and an action plan. I was given many tools, such as government websites and forms, to get started applying for grants and financing for my start-up real estate investing company. I also was able to network with investors that have used some of these processes to invest in income producing properties. As much as the education, I believe the opportunity to network and intermingle with successful entrepreneurs was invaluable.
I am now able to move forward to incorporate my company and expand my real estate portfolio. For those who believe that there’s no such thing as free money, I believe that I will be able to prove you wrong.
When I envision what being wealthy looks like, I see myself being able to be free of the decisions that stress most of us. As I grow older those sources of stress have changed somewhat. No longer do I have to decide about which bill I have to shortchange to ensure that they all receive some sort of payment, nor do I worry about how to pay for gas when I spent my money on the gotta have toys. Now I wonder about whether it is better to spend my money on family vacations or should I make lump sum payments on the mortgage. The decisions are no less stressful but as I strive for balance in my life I find it interesting to think that what I’m really striving for is the freedom to make the decision making process less painful.
Real estate and investment portfolios are the vehicles that I hope will get me to this financial shangri-la. Along the way, as those tough financial choices are in front of me I will be holding onto the thought that life one day will be more about what I want to do than what I have to do. When that time comes, I know that there will still be difficult choices in life but they shouldn’t be concerning my ability to stay on top of bills or savings.
The freedom that I crave I am modeling after those who I know that can choose to work that day or month and not have to worry about meeting their financial needs. All of the luxuries that come with being wealthy are just that - a luxury. The real goal that I’m striving towards is to have the choices in life that follow my heart as much as my head. As I follow my plan towards this goal I will update the blog on how the decision making process is evolving for me.
After the spoils of our daughter’s birthday and Christmas gifts, my wife and I had a discussion about teaching our children the importance of donating to those less fortunate than us. We have decided to start an account for each of our children with the intent of donating to a charity of their choice next Christmas. We have called it their giving account and are letting our kids decide whether to put spare change into their savings bank or into their giving bank. We are also encouraging family members who would normally purchase a toy (we are already swimming in plastic dolls and toy trucks) to give our children money, of which they can split between their personal accounts and their giving accounts.
As time goes on, my wife and I are trying to link the value of a dollar to the things that most of us take for granted such as basic groceries and personal hygiene items. This will make the tie in to donating to the less fortunate take on a much higher meaning for them. When my daughter puts a couple dollars in her giving account I let her know that it could purchase a jug of milk or a bag full of apples for someone who struggles to do so on their own. At preschool she colored a picture of a $20 bill and when she showed it to me I related it to the amount of food that it could purchase from the supermarket. My daughter has taken great interest in learning what she can do to help people who can’t afford the basic necessities in life. It is this thirst for knowledge that I hope will help guide my children to make the decision to keep adding to their giving accounts.
I recently finished reading the latest book put out by Donald Trump and The Learning Annex’s founder Bill Zanker. The title is “Think Big and Kick Ass in Business and Life” and it is a reflection of the Donald himself. After reading this book my impression of big real estate investing is that one must dream big and carry a big stick.
For those who don’t know the relationship between Trump and Zanker, a few years back Zanker approached Trump to be involved with the Learning Annex through the Wealth and Real Estate Expo idea that Zanker had. These shows were created to spread the wealth of information that the experts had to the general public for a fee. Trump would stand to make millions in appearance fees and Zanker’s fledgeling company would get a huge boost in revenue brought in from entrance fees for these events. This union worked and is still generating a large profit for each.
Now, back to the book. Each chapter in the book is written with Trump’s take on a topic followed up by a more tame interpretation from Zanker. I found it easy to read as Trump’s style of writing is the same as his personality — loud and somewhat amusing. Zanker, on the other hand, wrote in a much more factual manner, where the point was easily spelled out for you with personal anecdotes for emphasis. Each chapter is summed up with key points to remember. As for the content, I found the main message to be one of aim high and execute, and don’t look back facing harsh times but forge ahead full steam. Trump refers back throughout the book to his terrible years in the early ’90’s when his empire of towers nearly all came crashing down. He knew that even in those harsh investing environments that he had to keep moving ahead. He believes that he rebuilt his empire because of his passion for the closing of a deal. It was interesting to me to read that someone so down could make it big once again. Through hard work, and building great relationships with bankers he was able to get himself back to the top in no time. A favorite quote from the book — “The harder I work, the luckier I get” is a mantra that we should all live by.
Most of us know that not every real estate investor has what it takes to become a tycoon, but in the first chapter of the book there is a 15 question quiz to see if you are ready for the big leagues. The questions mainly pertain to drive and enthousiasm towards reaching your goals. Be honest and it will be a great motivator to keep you on your path, or it will open your eyes to the dog eat dog world that Trump refers to many times in the book.
Because of the interesting stories in the book I would recommend reading it, but this is by no means a handbook for real estate investing. It should be viewed as a motivator to get out there and kick ass.
As 2007 comes to a close, many people will be looking at New Years resolutions to be their personal motivator. People vow that as of Jan. 1 they will no longer eat junk food, or spend frivolously. They will no longer abuse their credit card, or cheat on their homework. The problem that I see with this is that they will most likely be setting themselves up for failure . Too often have I heard of people resolving to lose weight, go pay for a membership and use it twice. The same could be said about financial resolutions. We all have heard someone say that next year my bank account will be double than that of this year, but don’t change their failing ways.
So here’s what I believe is an alternate way of thinking when looking forward to the upcoming year:
- Decide on what you believe is an attainable outcome.
- Develop a plan through graduated goal setting.
- Envision yourself at each moment that you have reached your outcomes and embrace those feelings every moment you can.
- Execute! Even if it’s baby steps to start, but keep it in motion!!!
- Celebrate your success at every stage.
As 2008 approaches I will use this model as a guideline for financial goal setting, personal growth, and educational goals.
