THINK RICH - QUICK!

How to Put up A Business with "Saliva Capital"

2011-05-27T01:09:00.003-04:00

In the Philippines we have the expression: "Laway lang ang puhunan" which literally means "Saliva (or spit) is your only capital." Even though this may not be visually appealing to you, the expression captures the essence of how to be a smart entrepreneur. The above Filipino expression is better than the American expression closest to it which is "Sweat equity" because with the former, you can make money without much effort - which is again, very, very smart.

When one say "Laway lang ang puhunan", it means leverage. What do you leverage on? You leverage on OPM, OPT, and OPE. Here's a more detailed discussion:

OPM - means, Other People's Money. A lot of businesses today would have been impossible without OPM. Businesses leverage on OPM all the time. They borrow money to buy capital or build buildings. They get money from investors who become partners in the business. They get the money through selling shares of stocks in the stock market. Using your saliva as your only capital, you can talk and convince investors or lenders to give you money that you can use to start your own business.

OPT - means Other People's Time. You cannot have a business working at it alone. Otherwise, it becomes a job. You need partners, contractors and eventually employees who are willing to work in your business while you work on it. Henry Ford, the inventor of the assembly line and one of the richest men who ever lived really got OPT when he said "I would rather have 10% of a thousand men's efforts than 100% of my own."

OPE - means Other People's Expertise. You can leverage on experts so they will do the job you need to get done. You can leverage on entire company's not just on individuals. Their expertise can be in the form of technology, not necessarily effort or time.

One of my students, Bobet Cabuang utilized all the above in starting his very first business. Bobet started a lending company. He utilized OPM by borrowing the money from his friends and family at 12% per year and then he lends it out at 4% per month. He leveraged on his mom - and his mom worked the business doing the leg work. This is OPT. Lastly, he worked with HR departments of different companies so he can set up salary deduction as the way for his loan to get paid. He leveraged on their expertise or OPE.

The more leverage you utilize, the richer you can become.

If you're broke and have no business, you can leverage on OPM so you will have the capital to start one.

If you don't have any experience, you can seek out people with experience and expertise (OPE).

If you're busy with your current job, can you leverage on OPT?

There are so many opportunities to make money and generate lasting wealth through businesses. Master the art of leverage and you're on your way to owning and growing your own business.

dedicated to your success,
Trace "The Millionaire-Maker" Trajano

P.S. If you're too busy to start a business, investing is the next best thing. If you want to earn 10% on your money, visit BuyFirstDeal.com and look for the Passive Income Program I just created. Even if you have only $300, you can start with the program and you can start earning passive income NOW.

Want to become rich? Watch Sesame Street

2011-04-24T22:00:00.004-04:00

If want to become rich, watch Sesame Street. Recently, Sesame Street is teaching kids how to Spend, Save and Share. I will share with you the video in the latter part of this blog...

It's cool that they teach kids about money. A lot of the wrong things we do about money comes from our wrong conditioning when we were kids. Look at your own life. Chances are, if you're having financial struggles, you can trace the reasons why - in the things that happened and things you've learned in your childhood.

Your behavior now about money stems from three things in your childhood:

1. What you've been taught

My parents taught me that there is no opportunity here in the Philippines. "You have to go abroad to make money. Only the politicians and the actors make money in the Philippines" - is what my dad always said to me (not only when I was a child but even up to today). And because of this, this is exactly what I did. I went to the USA to seek greener pastures and worked there for 10 long years. Even after earning a lot of money from real estate investing, it took me a while to leave my job and go back to the Philippines because I was clinging to a deeply embedded belief that there are no opportunities in the Philippines.

But here's the truth: opportunities to make money is everywhere and all you need to do is open your mind to them. Once your mind is opened, you will spot these opportunities everyday and you will never run out of money - wherever you are!

Think about it: if opportunities to make money only exist abroad, how do you explain the Chinese millionaires and billionaires in the Philippines? They immigrated here without even knowing how to speak Tagalog, with only their shirts on their backs and they managed to earn millions, sometimes billions - right here in our poor country, the Philippines. If they can do it, why can't every Filipino?

2. What you've observed and modeled

I observed my dad was "rich" every time he comes back home. He puts on lavish parties for his friends and "barkadas". But two weeks later, the money is all gone and he needed to borrow money for his family - us - to even survive, until he can go back abroad to work. He borrowed money from his mother - my grandmother - we call her "Nanay". He borrowed money from everyone., even the loan sharks.

Little did I know that this behavior which I observed is something that I would also do in my adult life. I observed this from dad and it became embedded in my subconscious mind as something that was normal and expected. So guess what happened to me when I grew up as an adult? Despite earning a lot of money when I was a yuppie (young professional), I became deeply in debt through credit cards. I modeled the behavior of my dad and I struggled tremendously.

If you're in debt up to your eyeballs, Sha Nacino's book "Think Rich Yuppies" will be able to help you. Go to http://ThinkRichYuppies.com to get the book (it's not in National Bookstore). You can also get it cheaper in my "Think Rich Quick" seminar here: http://TRQGold.com.

3. What you've experienced

Let me share with you a very emotional story that happened to me. I love books - even as a young child. I always read. I love reading this children's encyclopedia (I forgot the name now) - 24 volumes in all and I loved the smell of its pages as I browsed through it.

One day, I was so shocked to find out that my mom sold my encyclopedia because we did not have any money for food. I was so disappointed. I cried. I ran out of the house crying. It was difficult for a young child to accept that the thing he valued most was now gone. I was angry at my mom for betraying me - not even telling me of her plans. I was angry at the rich person who bought my encyclopedia and stole them away from me.

As a result of this traumatic experience, I hated the rich. For me, the rich were bad and greedy and they stole things from poor people, even kids. Because of this hatred for the rich, I struggled for money for a very long time. Even today, from time to time, this "shadow" rears it ugly head and I lose money every time I hesitate to take advantage of a financial opportunity because I was afraid it would make me rich (and a bad person who steals from the poor and from kids).

It's Time for a little Introspection

What about you? What are the things you were taught when you were a child that are not helping you to become rich? What are the things you've observed in your parents and the people around you when you were growing up? Are there bad financial habits you've seen from your parents you are modeling today that are causing you to struggle with money? Have you experienced something traumatic that is now causing you to be afraid to become rich? Do you harbor envy and hatred towards the rich? If so, you need to release this envy and hatred because you will never become rich until you get rid of these poisons in your head.

SO here is my plea to you my friend. Teach your kids the right things about money so you will stop the cycle of poverty that has plagued your family. Here's the video about Sesame Street's advocacy for teaching money to kids. Start them young while you can still influence and teach them.

I will go watch Sesame Street when I get the chance because I might learn a thing or two about money :-) and you should too.

dedicated to your success,
Trace
P.S. My highly anticipated "Think Rich Quick" seminar is on April 29-30. It will change your life. Here's the link to register: http://TRQGold.com

A 10,000 Year Old Technique to Getting Anything You Want

2011-03-26T21:41:00.010-04:00

{A speech given to TRQ Apprentice Challenge, March 26, 2010, Bellavista Hotel, Mactan, Cebu}

"Therefore, whatever you ask for in prayer, believe you already received it and it will be yours." - Mark 11:24

I've traveled hundreds of miles to be with you, my Apprentice Challengers, not for me to share a new real estate technique. Rather, I am here to share with you, the single greatest, most powerful technique to having anything you want and it's not new. In fact, this technique is 10,000 years old.

Before I tell you what this technique is, let me share with you the story of Lyn Syluancia.

Lyn is a single mom when she was still in college. Somehow she managed to graduate as an Electronics and Communications engineer. Because she badly needed the money to support her baby, she swallowed her pride and worked as a factory worker.

She realized she needed more money to support her baby and so she set a new goal of working in the office. Even while she was working in the factory, in her spare time, she walked the streets of Makati, looked at the office buildings and visualized herself working in one of them. True enough, in just a few months, the Universe corresponded to her goal and she became an office worker. Working at the office, she realized the money that office workers earn is not that much more compared with factory workers. So, Lyn set a new goal of getting promoted to the engineer level from being an "associate."

She was working for a Japanese company at that time and they have a strict policy that states that you have to have worked for 2 years before you get promoted. But Lyn's belief and positive expectation was stronger than any company policy. Lyn got promoted in just six months, earning more money as a result.

Then Lyn set a higher goal: of being sent to Japan for training and additional money. Once again, the company policy is you have to have worked for 2 years as an engineer before you get sent to Japan. But once again, Lyn's positive expectation and strong belief shattered that company policy and she was sent to Japan in just a few months after getting promoted. This angered a lot of her more senior office mates and perhaps because of her meteoric rise to success, Lyn started having conflicts with her boss. She then set a dream of being her own boss.

Fortunately for Lyn, she discovered real estate investing. She was mentored by Thea Santos, one of my most successful students. Lyn made offers, after offers, after offers and these offers got rejected, and rejected and rejected. Lyn persisted and then she was able to acquire her very first real estate deal - a foreclosure - with no money down. Lyn attended my first ever "Think Rich Quick" seminar and joined my first ever "Think Rich Quick Apprentice Challenge" last year (March 27 and March 28 respectively).

Lyn quit her job when she earned in one month in real estate, what she used to earn in one year at her job as a design engineer for a Japanese company.

Lyn's dream of being her own boss is now her reality. She has her very own real estate company and it earns P600,000 to P1 Million every month.

Lyn is also manifesting her belief in her giving. Lyn supports a foundation that feeds and houses street kids. And a strange thing happened: the more Lyn gives, the more she receives. The more Lyn gives her money away, the more her business grows. Why? Because Lyn believes the Universe is an abundant place and money is easy to make. And this, my Apprentice Challengers, is Lyn's reality.

SO let me ask you this: what do you believe? What do you expect? What is your reality? If you want to change your reality, you have to change your belief and your expectation. This is the 10,000 year old technique that will help you get anything you set your heart on. As Jesus said "Therefore whatever you ask for in prayer, believe you received it and it will be yours."

Thank you.

dedicated to your success,

Trace

P.S. Do you want to see Lyn in person? Attend the LAST Quick Cash seminar this Wednesday, March 30 - 7 PM at the Amoranto Theater. Cli.ck H.ERE NOW.

How to Quit Your Job in 90 Days Through Real Estate Investing

2011-03-20T00:52:00.005-04:00

Below is an article I wrote that will be published in the April issue of Money Sense magazine.

Are you sick and tired of your job but you can’t quit because you can’t afford it? If you want to quit your job soon, you have to have an alternative source of income and I am here to tell you that real estate investing can be that new income source for you.

The “Why” That Makes You Cry

Before I show you how the income you will generate from real estate investing can replace your income, let me ask you a very important question. Why do you want to quit your job? Do not gloss over this question.

Jay Castillo used to work as an IT Manager and although the income was good, management decided to give Jay the jobs of 3 people while not increasing his pay check. The stress level was so high because of the additional work load, so much so that even though Jay is quite young, he developed hypertension. In addition to being away from his young child, his job was literally ‘killing’ him. Jay decided enough is enough and he developed passive income streams from real estate and internet marketing. More than a year ago, Jay quit his job and he never looked back. He is making more money NOW with a lot less stress while having all the time in the world to take care of his son and enjoy life with his wife.

Endangering his health while not seeing his child, is Jay’s “Why that makes one cry” – and are enough motivation for Jay to successfully quit his job.

What about you? What is your “Why that makes you cry?” Reflect on this. Write down the answer. If your “Why” is strong enough, you will figure out the “What” and the “How’s” in quitting your job.

Why Real Estate?

One attendee of my “Think Rich Quick” seminar, Lyn Syluancia, quit her high paying job as a design engineer for a top technology company in the Philippines. When I asked her what made her quit, she calmly told me “I quit my job when my income from real estate in one month became the same as my income from my job in one year.” You can easily do this in real estate because we are dealing with millions and so we literally make hundreds of thousands of pesos every deal or even millions of pesos. For example, one of my students, Kristine Aganon made P1.5 Million on just one deal.

What NOT To Do

Let me first tell you what NOT to do: You should NOT buy real estate and rent it out (and expect it will help you quit your job in 90 days).

Even though you may have read that you should buy real estate for passive income, the last thing you want that will enable you to quit your job in 90 days or less is a tenant. Why is this? Being a landlord will not make you BIG money in 90 days. In fact, if you do it the wrong way, you might even lose money. For example, as a beginner, chances are you do NOT know how to pre-screen tenants. What if you get a “tenant from hell” who will not pay you and even destroy your property? Can you afford to pay the monthly amortization out of your pocket? How much cash reserve do you have? If you are broke and have very little savings, DO NOT BECOME A LANDLORD!!!

If a Rental Property is Wrong, What Should I Do in Real Estate?

You should buy and sell houses for quick cash. A member of my website – BuyFirstDeal.com – RG Gonzales, bought and sold a house and made P100,000 cash in just a few days. He did this while working a full-time job and he was just a beginner. Later on, when you have a lot of cash in the bank and have quit your job, you can acquire some rental properties for cashflow.

So Tell Us Trace: How do I Quit my Job in 90 Days?

Here are the steps to quitting your job in 90 days or less:

Find out exactly how much money you need to quit your job. Let’s say P30,000 is your monthly expenses. I suggest you can quit your job if you have at least P180,000 in cash or at least the equivalent of 6 months of your expenses.
Learn before you leap. Read books, attend seminars, seek out mentors and mastermind with like-minded people about real estate investing. Also, decide which part of town you will buy and sell houses in and learn the values of the houses being sold there. Talk to the neighbours and real estate agents.
Line up your buyers. You can post generic ads like “Nice houses for sale. Tell me what you’re looking for and I will get you your ideal home.” Put your phone number and talk with potential buyers. Pre-screen them and identify the ones who are qualified to buy.
Look for the right properties that fit your buyers’ needs. Foreclosures can be a good source…or you can check out BuyFirstDeal.com for properties for sale.
Sell enough properties for your qualified buyers and you can quit your job sooner than you expect. For example, if you need P180,000 cash, you can literally meet that target with just one real estate deal.

dedicated to your success,
Trace
P.S. I have invited the Philippines' Youngest Abundance Coach to give an ONLINE seminar with me entitled "How to Quit your Job in 90 Days or less". It's a F.REE online seminar or webinar and you can register by cl.icking this L,INK. There are only 100 slots available so register NOW.

How to Make a Millionaire

2011-03-12T03:28:00.004-05:00

I am a Millionaire-Maker.
Some of my students are millionaires and many are on their way there.

Do you want to be a millionaire?

I am an engineer by training and an inventor in my past life in Procter & Gamble. I believe that EVERYTHING HAS A FORMULA. People who know me...know that about me. I am a "formula guy". Even when I play bowling, I teach people the formula how to get a strike (or get all the pins to fall with one ball roll) and how to get a spare (or get all the pins to fall with 2 balls). And they were amazed that there is a formula. And when people follow my formula, they improve.

Let me tell you the story of one of my millionaire students. In her story is the formula for becoming a millionaire. If you follow the formula, becoming a millionaire becomes a mathematical certainty.

One of my millionaire students is Thea Santos.
She started a broke shoe sales lady in Marikina (that's in Metro Manila, Philippines). She did not have any money when she started. I taught her the secrets on how to acquire properties with "No Money Down" or as we say in the Philippine language, "Laway lang ang puhunan."

Good thing she believed what I told her and it showed: she took massive action. Even before she bought a property, she told people what I instructed her to say "I buy and sell houses, including apartments."

Simply by telling people she buys and sells houses, people referred her buyers for properties. She then asked these buyers what they're looking for. She also pre-qualified them. Then she made offers to a lot of banks. Even if a lot of these banks rejected her low-ball offers, she was unstoppable in her determination to succeed. Soon, one of the banks accepted her offer on a 4-door apartment in San Pedro, Laguna.

She put an ad in the paper - based on my instructions. Over 30 people called on her ad and in just 2 weeks, she sold the property. She made a total profit of P260,000 on her very first real estate deal.

How would you like to make over quarter of a million pesos on a real estate deal in just 2 weeks...with no money invested in the deal? But Thea's story did not end there. Thea is part of a mastermind group whom I mentor every week. Soon, all the active members of this mastermind group became millionaires. During one of our meetings, Thea mentioned about a property in Marikina. It's a 6-door townhome. She made an offer based on the formula I gave her. The 6-door townhome is worth P24 Million but she got it for only P11.7 Million.

One of my students Grace Pekson, is also a hard money lender. She borrows money from investors and she lends them out to others. I've made Thea Santos one of my local coaches and Grace joined her as one of her students. Grace partnered with Thea on her P11.7 Million townhome and she helped raise the downpayment for it. Grace set the goal of earning a million pesos in real estate just 6 months.

Five months later, Grace and Thea sold all the 6 townhomes.
Grace and Thea earned over a million pesos each - as a result of this one single deal. Also as a result of this property, Grace became my fastest real estate millionaire to-date and Thea became my first millionaire-maker student.

Based on this story...did you see the formula for becoming a real estate millionaire?
Here's the formula...and to help you remember it...I call it my 5M's to Millions Formula:

1. Mindset - you have to believe you're a millionaire and you have to act as one. Belief is so crucial that if you doubt you will become a millionaire, you will never become one...even if you do all the remaining 4M's below.

Here's the thing: you might say to yourself that you believe you're a millionaire but you might have some limiting beliefs that will sabotage your success. These limiting beliefs are soooooo insidious that you have to be aware of them. An example of a limiting belief that destroys a lot of people's chances for becoming rich is this: Rich people are bad and greedy. If you believe that rich people are bad and greedy, you will NEVER become rich because you would rather remain poor because deep within your subconscious, there's a conflict between being good and being rich.

Instead of believing rich people are bad and greedy, you should start believing that you can be rich and spiritual at the same time. People don't think that Jesus Christ was rich when he was on earth but John Calub begs to differ. John says in his Money Magnet Seminar that Jesus wore the equivalent of an Armani suit when he was on earth. The proof of this is when Jesus was about to be crucified, Jesus wore a seamless robe. This was considered the most expensive robe in all of Jerusalem. It was so valuable, the soldiers decided to cast lots to see to whom the robe would go to.

I strongly suggest you attend John Calub's Money Magnet Seminar on March 19. John is NOT paying me to promote his seminar but I believed in it so much I can't help but recommend it. It's so cheap and you will get a lot of value in it. Heck, I've attended it twice and every time I attend it, I learn something new. I will attend it once again on the 19th and I hope I will see you there.

During my "Quick Cash Real Estate Seminar" last March 9, I asked the audience the question: "So to be a millionaire, all you need is to have the mindset of a millionaire, right?" Everyone said in unison "Right." And I said "WRONG!"

Mindset is important but it's NOT enough. You can believe all you want that you can become a millionaire but if you don't follow the other parts of my 5M's to Millions Formula, you will never become rich either. The second part of the formula is very important. It's...

2. Mastery
You need to learn and follow a specific vehicle for becoming rich. Mindset is important but not enough. You need to learn and master a specific system for earning money. For example, Thea Santos followed my specific system for investing in real estate. It's a "No money down" system that also enables anyone to profit from real estate in a few weeks, sometimes, even in a few days. If you want to learn more about my system of buying and selling properties you should attend my "Quick Cash Real Estate" seminar this coming Wednesday, March 16 in Metro Manila. Click HERE to register NOW before all the seats are GONE.

Since we don't have enough space in this posting, I will reveal the other 3 "M's" of my 5M's to Millions Formula in my next blog post.

dedicated to your success,
Trace
P.S. I've never done a real estate seminar sooooooooo cheap like the Quick Cash Real Estate Seminar. My seminars are usually P7,000 per person but I am giving a real estate seminar packed full of valuable real estate secrets for only P250 per ticket. So register for the seminar NOW before it's too late by clicking THIS.
P.P.S. John Calub's Money Magnet Seminar this coming Saturday, March 19 is a "Buy One, Take One" deal. Wow. Attend it by clicking THIS.

I am Too Lazy to Visit Properties

2011-03-05T21:18:00.004-05:00

Beginning real estate investors make the mistake of being enamored with visiting properties. They think they can determine whether the property makes sense to buy by visiting it. WRONG. Visiting properties way before you have an accepted offer on it is a waste of time. That may come as a surprise to you. But...I am NOT conventional...meaning I don't do things in the same way as the majority of real estate investors. I don't waste time visiting properties as the first thing I do to evaluate whether the property makes sense to buy or not. In the Philippines, it's called property "tripping". In Metro Manila where it will take you at least 1-2 hours to travel because of the horrendous traffic, property tripping will waste at least 4 hours of your life...DAILY!

Instead, here's what I do first: I ask questions.
What questions? I borrowed this from Tim Mai, a Vietnamese-American real estate investor. He calls it the WOWWW questions.
Here they are:

1. What is the property worth?
2. how much do you Owe on it? (what's the mortgage balance, monthly amortization and interest rate)
3. What are the repairs?
4. Why is the seller, selling the property?
5. if you offer all-cash, or spot-cash to the seller and pay all the closing costs, What is the least price he/she would accept?

Asking the WOWWW questions can take you as little as 5 minutes. Yesterday, during John Calub's Money Magnet seminar, a motivated seller approached me and she revealed the answers to the WOWWW questions but she also talked about her family issues...so it took about 15 minutes (longer than what I would like but one characteristic of a good real estate investor is the ability to listen very well).

Once I get the answers to these questions - OVER THE PHONE - or in an email from the seller, the second thing I do is EVALUATE whether the deal makes sense or not. This takes me another 5 minutes for simple deals and about 10-15 minutes for more complicated deals. How do I evaluate deals? Let's discuss the simple deals.

Here's what I do. I compare the answer to the first question: "What is the property worth?", with the answer to the last question: "What is the least price the seller will accept?". If there's NO "spread" or difference between the two, the deal is a BAD deal (period). If it's a bad deal, I don't waste any of my time. I just follow up the seller after one or two months to see if he is more motivated to sell and more realistic with his price.

If there's at least a 20% spread, then I check the repairs - "What are the repairs?" and I use the following formula:

MAO = ARV x CF - Repairs - Profit

Don't get intimidated by this formula.

MAO stands for Maximum Allowable Offer.
ARV is the what the property is worth and stands for After Repair Value.
Repairs is the cost of labor and materials to fix the property.
And Profit is how much money you want to make (and if you're wholesaling the property or selling it to another investor...it also includes how much money you want your buyer to make).

I described the formula in detail in my book "Think Rich Quick". You can request the nearest National Bookstore so they can get one for you (my book is now becoming a 'rare collector's item' given the fact that it's already sold out in a lot of bookstores all over the Philippines). The bottomline is this: if my MAO or my Maximum Allowable Offer (or the most I would pay for a property) is at or even above what the seller is asking for...then the deal is a good deal.

If it's a good deal...do I immediately visit the property? YES...if I am familiar with the area and I know the area is a HOT one. I also visit the property if I have buyers lined up. After I inspect the property, two things will happen:

1. If the repairs are in line with what the seller gives me, I will write an exclusive purchase contract to buy the property from the seller.

2. If the repairs are more than what the seller gives me, I will talk to the seller and negotiate with him and convince him to sell the property to me at a lower price. If I convince him, I will email him an exclusive purchase contract.

After I get the written accepted offer from the seller, I will call my buyers in my database and show the property to all of my buyers...at ONE TIME. Doing this saves me a lot of time and gets my buyers to compete against one another. This technique is how my students sell properties in a few weeks...even in a few days.

If I am not familiar with the area, I will make a written offer to purchase the property with the seller. This is usually, a non exclusive option to purchase. To download a sample contract, click HERE (note: I am not a lawyer...please consult one when using legal documents). Once, I have a contract that gives me the right to buy the property...and therefore the right to sell it, I will market the property online. As soon as I get several buyers lined up...I will then set up a time to inspect the property and I will bring my potential buyers with me. By doing it this way, I visit the property and show it to my buyers at the same time. I save time by visiting the property only ONCE or at the most TWICE.

If my buyers are NOT OK with the price, I will renegotiate with the seller to buy the property at a lower price. If one of my buyers is OK with the price, I will write a sales contract with me selling the property to him at a higher price than my purchase price. Doing it this way, I make money from the difference of what I am selling it for versus what I am buying it for.

You might be asking: how do I market the property online? I have no space to discuss it here but I have good news. On March 9, this Wednesday, I am going to give the very first "Quick Cash Real Estate Seminar."

What is my seminar about? The seminar attendees will learn how to acquire properties with "no money down" (or in Filipino, we call it "Laway lang ang puhunan") AND how to sell properties very quickly. My students who learn my system of selling properties have made money on properties in a few weeks, sometimes even in a few days.

Yesterday, at John Calub's seminar, I also met a real estate investor. She followed a system of buying foreclosed properties by bidding at a bank auction. There's only problem: she couldn't sell this foreclosed property (she bought a piece of land). She followed a flawed system. She became enamored by visiting properties and making offers...without understanding her market and learning how to market properties first. As a result, her money is stuck in the property.

The danger of NOT learning before you leap is that you can lose money just like this real estate investor I met yesterday. Don't be like her. Attend my "Quick Cash Real Estate Seminar"...and although, this might be self-serving...here's the truth: I am NOT making money from this seminar. I am doing this seminar in order to teach more people how to invest in real estate in the right way. Here's my profit motive: I have a real estate lending company and I lend money to my students. The more I train you to invest in the right way, the more money I make in lending you money. Win-win.

I remain...

dedicated to your success,
Trace
P.S. What is cool about this seminar is that it is soooooooo cheap and affordable. My highly popular "Think Rich Quick" seminars are sold out at P7,000 and yet my "Quick Cash Real Estate Seminar" is only P250. Over 400 people are already signed up and there are only 91 seats left. To sign up for the seminar NOW, click HERE.
P.P.S. The danger of NOT signing up NOW is that this blog is being read by over 12,000 people. With only 91 seats left...I won't be surprised if we run out of seats and will need to turn some people away. To avoid being kicked out of the venue, click HERE.

The Problem with Living Within Your Means

2011-02-26T21:58:00.003-05:00

Most financial pundits will say "Live within your means and you will be OK financially." While it is BAD to live above your means...or to spend more than you earn, I have never seen a millionaire or a billionaire who saved his or her way to financial success. Meaning...saving money is good but it is not enough to make you a millionaire or a billionaire.

Here's the solution: live within your means AND expand your means.

You need to have an additional streams of income other than your job. If not, you will always need to work to make money. I don't care even if you earn one million pesos a month. If you have to always work 8, 10 or 12 hours a day for it...it's not the way to become wealthy. As Robert Kiyosaki, author of Rich Dad, Poor Dad would say "Wealth is the number of months or days you can afford not to work." If you always need to work, then you're not wealthy. You can be rich...or someone with a lot of cash but if you always need to work long hours to earn it, then you're not wealthy.

You need to have passive income. Passive income is defined as income that comes in with very little or NO work. I get passive income from the monthly cashflow of real estate and royalty from my books. Essentially, passive income is income that comes in even while you sleep.

In my book, "Think Rich Yuppies" (co-authored with Sha Nacino), we laid out the financial blueprint that will ensure success. You have to save automatically...at least 10% of your gross income. You have to pay off your debts systematically and automatically so you don't focus on them. You then have to learn how to generate passive income streams. In order to supplement that chapter, I proposed to Sha Nacino that she interviews different gurus about generating multiple streams of income. One of the gurus she interviewed is Eireen Diokno-Bernardo.

Eireen is the Philippines' number 1 eBay powerseller. To be a powerseller, you need to have sold millions of pesos worth of merchandise. So Eireen is NOT an amateur or hobbyist eBay seller. She has managed to build a real business that generates massive income for her and her family. The nice thing about eBay is that, once you set up the business in the right way, the income that comes in is basically passive. You don't have to deal with customers face-to-face. You don't have to sell in person. If you're a shy person like me...selling on eBay might be your one way for you to learn how to sell. Eireen advises that you need to set up an arrangement with a shipping company in order to get your shipping done in the right way and in order for you NOT to spend the time shipping what you're selling.

You might be thinking, "eBay is NOT for me. I don't have anything to sell." Eireen thought in the same way in the past. Actually, the one who started the eBay business for the Bernardo family is not Eireen herself but her husband. He started selling old memorabilia and he profited handsomely in the process. Any "junk" you have in the house might be valuable for someone and eBay could be the way for you to dispose them and make money from them at the same time.

You might be thinking, "I am broke. I don't have money to buy merchandise to sell on eBay." Think again: you can sell merchandise on eBay even before you buy them. You can also buy the merchandise on consignment. In other words, you can have your very own eBay store with "no money down" just like real estate.

Lastly, you might be thinking, "I have a full time job. eBay sounds like a lot of work: I need to buy the merchandise, pack them and ship them myself." Think again: there are some eBay vendors who act as middlemen. All they do is coordinate everything. Once an order comes in from their eBay stores, they call the manufacturer to coordinate directly with the shipping company to ship the goods directly to the customer. Passive income, isn't it?

To find out more how to launch your very own eBay business, get our book + 4 audio CDs "Think Rich Yuppies" here - http://ThinkRichYuppiesBook.com.

dedicated to your success,
Trace
P.S. Do you want to save on the shipping costs? You can get the book at a substantial discount on March 9, 2011 when you attend my upcoming seminar. Clic'k HERE to attend and register for the event (you have to be a member of BuyFirstDeal.com to register but membership is f'ree...)

John Calub's Money Magnet Seminar Does NOT Teach You Anything NEW

2011-02-19T20:40:00.010-05:00

I attended John Calub's Money Magnet seminar yesterday - Feb. 19.
It was a whole-day event filled with fun and most importantly, wisdom.

It was fun as John and his crew were able to entertain the 2,400 attendees through getting people to dance and shout and even laugh. There's even a laser light show at the start. John fills his presentation with humor and as a result, he makes a boring topic like finance very interesting to his listeners.

And yes...it was worthwhile to attend because of the wisdom you will gain.
But YOU WILL NOT LEARN ANYTHING NEW.

What John does instead, is that he 'DEPROGRAMS' your mind and erases what he calls the "viruses" of limiting money beliefs and bad financial programming. These limiting money beliefs or what I call your "money fears", prevent you from achieving your financial goals.

What are these limiting money beliefs? Let me give you just three limiting money beliefs that John mentioned yesterday at his Money Magnet Seminar.

1. Rich people are bad and greedy.
This belief is very much ingrained in the Filipino psyche. All the telenovelas portray the rich as bad and greedy. The telenovelas tell us the rich as "matapobre" or they belittle the poor. When I talk to people who are still struggling to become rich, one of the things they tell me is that they are afraid to become rich because they think they will become bad and greedy. John tells us this picture in our minds as to how telenovelas and movies portray the rich: a rich guy (usually a drug lord) is being massaged by a beautiful prostitute while he is surrounded by gun-totting goons.

With a picture like this of what a rich person is...no wonder it's hard to become rich. People sabotage themselves because in their subconscious mind, they would rather become poor than become a bad, rich person.

Instead John Calub teaches "You can be rich and spiritual at the same time." John then cites proofs that a lot of the holy men in the Bible are actually millionaires...and one - King Solomon, the richest man who ever lived is even a TRILLIONAIRE. John talks about Jesus' seamless robe and what archeologists discovered. They found out that a robe like that is the most expensive robe in all of Jerusalem. John likens the robe to an Armani suit. If Jesus wears an Armani, he must be...when he was here on earth...a MILLIONAIRE. That's right. Jesus is a MILLIONAIRE. This is proof that it's alright to become rich because you can be spiritual and holy at the same time.

From my own personal experience, I find that a lot of the rich people I talked with are very nice and yes, very spiritual at the same time. Two days ago, I talked with a very rich man. He told me he can fund a P100 Million deal or even BIGGER. And then after meeting him for breakfast, he told me he needed to go because he was about to pray the Rosary with his family and friends. Wow!

DO YOU WANT TO BECOME RICH AND SPIRITUAL at the same time? Here's what you can do today: STOP WATCHING TELENOVELAS. Instead read BIOGRAPHIES of rich people. Learn their stories. Learn how they think. And most importantly, DO WHAT THEY DID. If you think like a millionaire and do what a millionaire does, you will become a millionaire.

2. "Pag maikli ang kumot, mamaluktot" (if the blanket is short, bend your knees and make do).
This MONEY VIRUS is very insidious. It affects even millionaires and some money experts even teach this. And once again, it's deeply ingrained. If you make a budget or you budget your money...you have this limiting belief. This belief basically implies that your ability to make money is LIMITED. And since it's limited, your lifestyle has to "shrink" to what you can afford. You've heard of the expression: LIVE WITHIN YOUR MEANS. Even though this seems to be "right", John says this is a limiting belief.

Instead John teaches us to replace that limiting belief with this empowering belief: "Pag maikli ang kumot, bumili ka ng mas malaki" (if the blanket is short, buy a bigger one). Instead of the limiting belief of living within your means, the empowering belief is EXPAND YOUR MEANS. This means your ability to make money is UNLIMITED. You can make money rather quickly and in BIG AMOUNTS.

One of my students, Lynn Monsanto was able to generate P500,000 in just 2 weeks time by selling 2 townhouses. What can you do with P500,000 today?

Do you want to have the ability to generate big money in a quick way? In my book (with 4 audio CDs) - "Think Rich Yuppies", you will find 3 different businesses that will help you generate a lot of cash in a relatively short span of time. In my blog posting last week, I talked about how we interviewed Jomar Hilario (for our book - "Think Rich Yuppies") and he teaches how you can generate fast cash by setting up an online business. We also interviewed Eireen Diokno, the number 1 "Powerseller" of eBay in the Philippines and she revealed powerful secrets on how to generate quick cash through setting up an eBay store. I will talk more about Eireen in my next blog post.

and the last limiting belief that is deep in the Filipino psyche is this:

3. You cannot become wealthy in the Philippines.
This is the reason why 10 million Filipinos work and live abroad. This is the reason why millions of Filipino children grow up separated from their fathers and mothers. I grew up this way because my father was an OFW (Overseas Filipino Worker). I grew up seeing my dad just 2 months every year. Once, he was even away for 2 long years.

This is the limiting belief I used to have that prompted me to work in the US for 10 long years. When I talked with Tony Meloto, founder of Gawad Kalinga, he told me this sad reality: "We have become a nation of "escape artists" - we escape from the Philippines and we betray our nation." Ouch. That comment hurt but I realized it is true. One of the reasons why our country struggles to this day is that we have become a nation dependent on foreign salary. By working abroad we make our foreign "slave owners" rich. We give them our best nurses, our best doctors and our best engineers.

The only thing we should give other countries is our corrupt politicians!

John Calub says instead that we should replace this limiting belief with "I can be rich and wealthy anywhere." Tony Meloto wrote in our book "Think Rich Yuppies" this powerful truth "The Filipino can create prosperity in his country and his own solution to his poverty." How? By being an entrepreneur.

At dinner last night, I asked one of our friends who was contemplating working in Singapore this question, "So as a nurse working in Singapore, how much money are you going to make?" She replied, "About P70,000 to P80,000 a month." I told her my real estate students make a lot more than that and they don't have to "slave" countless hours for it. For example, Eden Dayrit, my youngest real estate millionaire makes P100,000 per month in passive income alone. Recently, RG Gonzales - a member of my website - BuyFirstDeal.com (a website dedicated to helping beginners make money in real estate) made P100,000 in just a few days. Click H'ERE to read this story and maybe, you will NOT become one of those escape artists that Tony Meloto describes.

Working abroad, becoming an entrepreneur and coming back home in the Philippines, I realized there is so much opportunity here. All you need to do is open your minds and learn how to become an entrepreneur. As an entrepreneur, you can help a lot more people and make money at the same time. And you can do so...here in our country - the Philippines.

John Calub talks about a lot more limiting beliefs and the empowering beliefs you can replace them with during the Money Magnet Seminar. And even though he does not teach anything new because what he does is remove the money viruses and junk, attending this seminar is a MUST for everyone. If you implement what he teaches you will think like a millionaire and you will attract millions.

dedicated to your success,
Trace
P.S. I am so impressed by John Calub's Money Magnet Seminar I am attending his next course "Attracting Wealth". Here's a testimonial from one of the graduates: http://www.youtube.com/watch?v=bx4_ksj8H5E

Jomar Hilario Will Help You Start an Online Business

2011-02-12T21:12:00.004-05:00

When Sha Nacino emailed me the manuscript about the book she was writing, I've decided to help her. I was moved by her writing, by her story and I believed she could change the lives of millions of Filipinos. I said "YES" to helping her. I decided to become her co-author and spend a small fortune to get the book out in the world.

I named the book "Think Rich Yuppies" because it's a book written by a yuppy (young professional) for yuppies. It's a book for the young ones and even for the young "once". This book is for you if you want...

1. To pay off your credit card debts in just one year
2. A six or a seven figure bank account; and
3. A life free from financial worries forever

I rarely collaborate on a book because I am so busy but because of Sha's captivating writing (I know a better writer when I see one...and I am a best selling author!) and what this book can do, I've decided to take time from my busy schedule to support her.

One of the things that we did to make our book have more impact for its readers, is to interview 4 "gurus" who will teach its readers how to generate multiple streams of income. One of the gurus Sha interviewed is Jomar Hilario.

Jomar is one of the Philippines' foremost online business guru. He has helped people like Jan Hilado become an internet entrepreneur at a very young age. When I talked with Jan, I found out he is not even 25 and yet he does not need to work any more. He collects passive income from his internet "properties". I wished I met Jomar when I was Jan's age.

Jomar has also helped Jay Castillo start an online business - foreclosurephilippines.com. This website, together with real estate investing, gave Jay so much passive income he was able to quit his stressful job.

And talking about real estate investing, I noticed a pattern. My most successful students in real estate investing are also Jomar's students. Eden Dayrit, a millionaire by age 25...Ronald Cagape, a millionaire as well and was able to quit his high paying job, are just 2 examples.

In Eden's favorite deal, she was able to sell a property she has not even seen and made P100,000 in just 2 weeks. All she did was put up a blog site that followed what Jomar teaches.

Ronald now has a substantial buyer's database, partly because of Jomar's teachings. Here's the truth when it comes to real estate investing nowadays: you need to know INTERNET MARKETING to sell houses today. More than 80% of real estate transactions happen online in the United States and I am sure, the same is true in many parts of the world including the Philippines. So, if you're not doing online marketing for your real estate business, you're taking an 80% pay-cut. Ouch!

I am impressed by the impact Jomar has made on the lives of many Filipinos I've decided to have Sha interview him. We put that interview on an audio CD that you can listen to again and again. You will be excited when you hear that interview. You will laugh because of Jomar's humor but more importantly, you will discover the secrets on how you can succeed online. Just one idea from Sha's interview with Jomar could be all that you need for you to start an online business or at least help you market properties online. Either way, the audio CD interview with Jomar is a "must-listen" (you must listen to it) because of what it will do for you.

Next week I am going to reveal who is the next guru whom Sha interviewed and what to expect in our book + 4 audio CD's "Think Rich Yuppies".

dedicated to your success,
Trace
P.S. To order the book + 4 audio CDs, click here - http://ThinkRichYuppiesBook.com. You MUST order it now because only 144 units are left at 33% discount.

How a Newbie Made 100K in 2 Days and How to Quit Your JOB

2011-02-06T19:29:00.005-05:00

The title of my blog post is quite a mouthful but I promise I will be short and sweet. What you are about to learn are the 5 steps that you can use to quit your job. The story of one of my students making P100,000 in 2 days is related to step #5 to quitting your job. Are you ready? Here we go...

Step 1: Develop a "Money Magnet Mindset"
Before you take the right steps to quitting your job, you have to ask yourself why you want to quit your job. Keith McEachern, a millionaire network marketer whom I interviewed personally said "What is your "WHY" that makes you cry?" Is your desire a "burning desire" or just a weak spark? How badly do you want to quit your job? What are you doing it for? Are you doing it for your family, or you just don't like your boss?

Jay Castillo decided to quit his job when he realized his job was literally killing him. Through a series of downsizings, Jay found himself with the jobs of 3 people while having the same salary. He was working so hard that he was diagnosed with hypertension even at a young age. He was also working so much that he does not spend any time with his child. He decided enough is enough. He spent the time to learn real estate investing from me and other mentors and after several years he has enough income coming in he was able to quit his job. Jay's "WHY" was his family and his health. What about yours?

Having a strong reason why you want to quit your job is only one aspect of your mindset. The other part of it is BELIEF. You have to believe you can become financially independent of your job. You have to believe the real security lies from within not from without. Your real security lies with you...not with a paycheck.

For the longest time I was too scared to leave my comfortable high paying job at Procter and Gamble. I was making over $100,000 a year and even though I was already making money outside of P&G, I still had my doubts and fears. I doubted my own capacity for making money. The truth was I could do it. I had many streams of income outside of my job already but I still clung on to the comfortable security of the big paycheck. Then I had an epiphany.

I went on a Caribbean cruise with millionaire network marketers. In the course of interviewing 12 network marketers who make at least $100,000 a month...I realized there really is no difference between myself and these successful network marketers. I realized that in a lot of cases I am more talented and more capable than them. I realized that I am smarter than a lot of them. I realized that they started with nothing...with their backs against the wall and yet they thrived because they had what I was lacking at that time - COURAGE and SELF-BELIEF.

When I got off the boat, I decided to get off the boat of the security of a paycheck and jump into the exciting waters of entrepreneurship. And you know what? Not only did I survive, I thrived. My only regret was I should have done this years ago. I should not have doubted myself. I should not have doubted the capabilities and talents that God gave me. And you know what my friend? You should NOT doubt yourself too. But before you resign from your job...you have to follow steps 2 to 5.

Step 2: Live within Your Means
I know what you're thinking. You're probably asking, "What is living within my means got to do with leaving my job?" It will become more apparent in Step 3 so I will be short here. Just trust me: you need to live within your means. You have to know how much expenses you have so you'll know what to aim for. You have to have the habit of restraint so that your expenses don't overshoot your income. In our upcoming book "Think Rich Yuppies", Sha Nacino outlined a simple way to know your expenses. I did not believe how effective it was...until I tried it personally and it worked.

Step 3: Save Automatically
The reason why you need to live within your means is you need to SAVE. Why? SO you can build a cash reserve or cash cushion. Why? Because the downside of not having a steady paycheck is that your income as an entrepreneur fluctuates. You want to have a cash reserve to carry you through the tough times. Before I resigned from my job I ensured I have 6 months worth of savings to take care of my family's needs. You should do the same.

In our upcoming book "Think Rich Yuppies", we outlined a formula to ensure you save. But first, here's the formula that runs most people's financial lives:

Savings = Income - Expenses

That is, once they receive their income, they spend it and save what's left. The problem with this approach is that expenses tend to rise with your income. If you save what's left, chances are high there will be nothing left for you to save. Instead, use the formula:

Expenses = Income - Savings

That is, set aside a portion of your income as savings even before you spend it. Then whatever is left, spend it, enjoy life but don't live above your means.

Step 4: Pay Your Debts Automatically
My co-author of the book "Think Rich Yuppies" compares debts with holes on a glass of water. It does not matter how much water is coming in but if a glass has holes, the glass will never be full. You have to pay off debts - specially high interest credit card debts. In our book "Think Rich Yuppies", Sha outlined techniques, strategies and principles to enable you to pay off your credit card debts faster than you think possible. Sha speaks from personal experience. In one year she managed to accumulate a lot of credit card debts. It took her 3 years to pay off all her credit card balances but she did. In the book she recounts this harrowing tale and the system she developed that enabled her to be free of credit card debts. If you're in debt, this book will save you.

and then lastly...

Step 5: Expand Your Means
No one has become wealthy through paying off debts and savings alone. You have to expand your means or develop an income stream outside of your salary. Combined with enough savings and paid off debts (or at least having a system for doing so), having the ability to generate income outside of your job will give you the assurance you can thrive not just survive.

In our upcoming book "Think Rich Yuppies" we're including 4 audio CDs where Sha interviewed 4 gurus who will teach you how to expand your means. One of the ways you can expand your means is through investing in real estate. Before you think you need money to make money in real estate...think again. One of my students and members of BuyFirstDeal.com made P100,000 in just 2 days with a simple "No money down" technique which I call Affiliate Real Estate Marketing. Here's his story which he gladly shared with the members of BuyFirstDeal.com (it's totally f'ree to sign up as a member):

"I have been a follower of this community since last year while I was bored sick at the office during my rat race life. I was working as a Financial Adviser to clients from the UK but my own finances were in disarray. I stumbled upon the book "Rich Dad, Poor Dad" in a small thrift shop in Cubao Expo way back 2008 for only 30Php. After finishing the book in a day and rereading it, I committed myself to learning more about financial literacy and what a more practical and economical vehicle than Real Estate investing. But even though I had the drive and passion to learn more, I just didn't seem to know where exactly to start until I chanced upon this site (BuyFirstDeal.com)

After joining BFD, I have tried and tried, on countless times, to close a deal and have been inspired by the Think Rich Quick idea. And how I wanted to really feel the joy of getting that first deal and finally saying "Hey World! You know what? It can be done." As Kiyosaki said, the rich make money out of nothing and that is what I actually did. Only in this case, I had to use a phone, a computer and a cab."

To read the rest of the story, click HERE.

dedicated to your success,
Trace
P.S. Our book "Think Rich Yuppies" is coming out on Feb. 26 but as one of my avid subscribers, you get the chance to order the book by Feb. 12 and it's autographed by Sha and myself. You'll also get it at a 33% discount. I can only do this for 79 people so reserve your copy NOW by sending me an email at trqcoaching@gmail.com.

Interview with ANC Shop Talk About the Think Rich Quick System

2011-01-26T21:16:00.001-05:00

Part 1:

Part 2:

Part 3:

Formula for Becoming a Real Estate Millionaire

2011-01-22T04:28:00.010-05:00

I've been asked by a reporter at the Philippine Inquirer as to what the formula is for becoming a real estate millionaire. My answer is as follows:

1. Understand your market
2. Line up your buyers; and
3. Find the properties

Understand Your Market
You have to understand what's going on in your real estate market. Is it a rental or re-sale market? What phase is your market in? There are 4 market phases - Buyer's Market Phase 1, Buyer's Market Phase 2, Seller's Market Phase 1 and Seller's Market Phase 2. Some strategies that work in one market phase does not necessarily work in another phase. For example, selling properties at top retail price works well in a Seller's Market Phase 2 but NOT in a Buyer's Market Phase 1.

Another thing to think about when talking about real estate markets is you need to know what's HOT. What property types are selling? IS it condo's, house and lot (or single detached home), or townhouses? What price range is selling? What is the median price of homes? What is the average days on the market? Within your market, which locations are HOT? You have to understand your market down to the local neighborhood level. For instance, do you know the neighborhoods to avoid?

Once you understand your market, you will know what property types, and price range to focus on. You will know which neighborhoods to put out your marketing in for optimum results.

Line Up Your Buyers
Even before you get a property, you can line up buyers. How? There are three ways. The first one is simple WOMM or Word of Mouth Marketing. Just tell everyone you know that you buy and sell houses. Tell your friends, family and colleague that you're in the real estate game and if they refer you buyers you will pay them a referral fee (if and when their buyer-referrals close on the deal). The second thing you can do is put out generic advertisements. For example you can put out something like this:

"Foreclosed houses in Marikina for sale. Spot cash buyers ONLY. Call or text 0917-123-4567"

The third thing you can do is Affiliate Real Estate Marketing which is working with other investors. You can help them market their properties for sale and in the course of doing so, you're building your buyer's database. Of course you have to do this in the right way or else you will be accused of brokering real estate without being a licensed real estate agents. This is illegal in the U.S. and with the RESA law in the Philippines this has become illegal as well.

Find the Properties
The third and last step in becoming a real estate millionaire is learning how to find the right properties that fit your buyers' needs. You can find properties many different ways. One is through affiliate real estate marketing as discussed previously. Another is through seeking or "pursuing" the properties. For example, you can browse online classified ads. You can talk to banks to get their list of non performing assets.

Another way of finding the properties that fit your buyers' needs is by putting out enough marketing out there so deals come to you. How do you this? One way is by putting out bandit signs that say "I buy houses CASH" or putting out business cards. One of my students has an oversized business card that say "I buy houses CASH". She put this as a tag in her bag. While being in the plane, her seatmate noticed it. It just so happened that the guy seating beside her owns several properties that he was selling. The properties came to her as a result of a simple marketing technique.

So there you have it: you have now read the formula that my millionaire students use. Master the steps and you'll be on your way to success. I will be discussing these steps in greater detail in my upcoming seminar "Think Rich Quick." Clic'k HERE for more details.

dedicated to your success,
Trace
P.S. Here are two other reasons why you should attend my upcoming "TRQ Seminar":

I Guess You Don't Know What You Don't Know...

2011-01-13T19:03:00.002-05:00

After reading my first real estate book I thought I knew everything there is to know about real estate investing. I was an arrogant, know-it-all fellow but when I acquired my first property...I realized I really didn't know much. I struggled selling that property on rent-to-own. It took me 3 months to finally find a tenant/buyer and I almost went out of business before I even started.

With this humbling experience behind me...I licked my wounds and started over. This time I spent thousands of dollars in my real estate education by attending seminars after seminars. I sought out real estate mentors. And I took massive action implementing what I was learning. My second deal was better than the first. It took me one month to fill in my vacancy and it was profitable on day 1. My third deal was a gold mine. It took me 2 months to fill in my vacancy but I convinced the seller to pay 3 months of the mortgage payments...so I did not have any vacancy at all. I also received $6,000 upfront as a non-refundable option consideration. Eventually on my third deal I made over $30,000.

All my self-development and education paid off.

My story of course is not unique. One of my students Jojo Taming was an unsuccessful real estate agent. He was struggling to sell a lot in Baguio, Philippines for 12 months. He was getting frustrated and was about to give up. Then he stumbled into our local coaching program. One of my local coaches - Thea Santos - became his coach. He learned eXtreme Marketing techniques in selling properties. And then an unbelievable thing happened - he found a buyer for that lot - who was hundreds of kilometers away (from Manila). Jojo sold that lot in just 3 weeks.

And if you think this was just luck...think again. Jojo sold one lot after another in a matter of 2-3 weeks. He found a buyer for a townhome just 24 hours after he put out his eXtreme Marketing campaign. Jojo said, "eXtreme Marketing works like magic!"

Most real estate agents and investors never learned eXtreme Marketing and they wonder why they can't sell houses in a few weeks or in a few days. I wished I knew eXtreme Marketing when I started...I could have saved myself time, trouble and stress with vacant houses.

You see...you don't know what you don't know. And what you don't know will cost you.

Another student of mine Rose Vistan has a similar experience. When I asked her how she did her first deal she attributed her success to two things:

1. She learned how to market extensively through word of mouth marketing and COIN or Centers of Influence Networking. Her marketing efforts paid off because she found a really good property.

2. She met people who are part of my network who became crucial to her success. For example, she met Drew Nable, an attendee of my "Think Rich Quick" seminar last October (and member of my Apprentice Challenge). Drew found a buyer for her property. I also helped Rose fund her first deal.

Rose's gross profit on her very first deal is P300,000. The knowledge or Know-How and the people she met or Know-Who - became crucial for her success.

Then lastly, there's Grace Pekson. I first met Grace last March in my first ever "Think Rich Quick" seminar. She also enrolled in Thea's local coaching program last June. That's when she emailed me saying "I commit to earning a million pesos under your program before the year is over." I am so proud of her because she accomplished her goal in just 5 months - last November 2010 - one month ahead of schedule.

Once again she attributes her success to increased specialized knowledge and increased network of people. For instance her 6-door townhome was sold in part through the help of my Apprentice Challengers.

By now you should know that what you don't know and who you don't know...is already costing you. And you don't know how much money you could be making right now. Just like Grace maybe you should have earned over a million pesos right now if you only have the right knowledge and the right contacts. What do you think?

Here's my advice: spend the time in educating yourself. The DANGER with real estate is that you could lose BIG money if you don't know what you are doing. I was losing $2,000 a month in my very first deal until I found my tenant/buyer. That was not fun at all. But when you spend the time in getting the Know-How and the Know-Who, then things will start changing. You will get deals flowing to you. Buyers will all of a sudden appear everywhere and checks will be landing in your mailbox. This is the current reality of my most successful students right now.

Why can't it be YOUR reality?

dedicated to your success,
Trace
P.S. Below is a video interview I did with Jojo Taming on her success.

Leapfrog to Success in 2011

2010-12-28T05:50:00.003-05:00

New Year’s Day is fast approaching. There are two things I suggest you do as you prepare for the New Year.

1. Look back into what happened in 2010. Look at your goals. Did you achieve them? Regardless of your performance for the year what can you learn from your achievements and failures in 2010?

and

2. Plan the coming year. What are your goals for 2011? How much active and passive income do you want to make in real estate for 2011? How much is your net worth target? More importantly, what are your strategies for achieving your goals? In my previous blog post, I posted a video on a process being used by the top 50 companies in the world (which earn BILLIONS of dollars) to achieve their goals and you can use that same process to achieve any goal you set for yourself.

Talking about goals, let me tell you a story of one of my students, Alex (not his real name). Alex lives in a house two kilometres away from the garbage dump site. He hates smelling the strong odor of rotting meat and methane coming from the dump site especially when there’s a strong wind. He does not like his situation and he feels poor. He wish that he lives somewhere else.

One of the things I tell my students is to openly tell everyone the following when people ask them what they do for a living: "I buy and sell houses". Alex refuses to follow this simple instruction. He tells me he can never tell anyone that he buys and sells houses because he is too poor to be a real estate investor. His actual words were "Trace, how can I tell people I buy and sell houses when I don't even own my home and I live near a garbage dump site?"

My answer: just do what I tell you to do.

Alex to this day still does not follow this simple advice and the result: he is still poor. In contrast one of his "batchmates" - Ronald Cagape followed this simple advice and he achieved results Alex could only dream of. Ronald heard me say this advice to tell everyone "I buy and sell houses" during the last "Think Rich Quick" seminar. One of the people he talked with happened to have a commercial property he was selling. Ronald helped this seller and after just 2 months he got the deal closed and he made P650,000!

Alex is broke because he refused to believe he buys and sells houses.

Ronald WAS broke but he is now a millionaire because he believes he buys and sells houses and he tells everyone he does...even BEFORE it became his reality.

See our actions are products of our feelings. Our feelings are the result of our thoughts. Why does Alex act like that? (or more precisely why didn't Alex act?) It roots down to his feelings. He does not feel and believe he is a real estate investor. He does not believe he buys and sells houses because of the poverty he is surrounded with. This came from his limited thinking or poverty thinking. How do you change your thinking so you can change your feelings so you can take the right actions? You have to feed your mind with empowering, motivating, and energizing thoughts. Let go of your old garbage paradigms that don't support you. In the same way that you get rid of your dirt and germs on your body by washing or taking a shower, you have to wash your mind everyday and get rid of your self limiting thoughts or ideas and replace them with no-limit thinking and empowering beliefs.

It's easy to say "wash your mind of self-limiting thoughts" but how do you do this in an easy, practical way?

Let me tell you one last story. This is the story of Bob.

Bob was a fireman and he was earning $4,000 a year (this was in the 1960s). After discovering the secrets to wealth, his income skyrocketted to $175,000 in just one year. In the following year, his earnings shoot up to more than $1,000,000. Bob has definitely leapfrogged to success!

Bob is my mentor. One year through his mentoring, I was able to generate more than ten streams of income. Everyday, Bob provides me the right “food” for my mind so that it is filled with empowering, motivating, and energizing thoughts. To get Bob as your mentor, click here

Success is not something you pursue. Success is something you attract by the person you become. If you want to leapfrog your way to massive success you have to work hard on yourself beginning with your mind.

dedicated to your success,

Trace

P.S. Bob's mentoring is free to try for 7 days. Try it for f;ree HERE.

How to Make 2011 Your Best Year Yet

2010-12-19T22:38:00.002-05:00

What’s your New Year’s Resolution for 2011 for your real estate business? If you don’t have one that’s OK. If you have a New Year’s resolution…forget about it because having New Year’s resolution doesn’t work. Most people will make the New Year’s resolution to lose weight and become healthier. They will buy that expensive exercise equipment and that running shoes and even sign up for the gym. Gyms experience a surge in memberships by late December until mid January driven by the New Year’s resolution mania. However an interesting thing happens: by mid February the new arrivals…those who made the resolution to lose weight by 2011 have already quit and are now couch potatoes once more…gaining even more weight vs. losing weight. Clearly, making New Year’s resolution does NOT work.

Fortunately, there’s a very powerful technique that works 100 times better than making New Year’s resolutions.

It’s a technique being used by the top 50 companies in the world and it enables them to make BILLIONS of dollars every single year. You…as a 1-person real estate business will NOT make billions but as you can imagine…if multi-billion companies use this process you too can make money with this.

Are you ready for this?

The technique is called an OGSM which stands for Objective, Goals, Strategies and Measures. When I used to work for Procter and Gamble, one of the biggest 50 companies in the world, we utilize the OGSM to plan and achieve world class results. When I entered P&G 16 years ago, the sales of the company is only $30 Billion. When I left P&G our sales shot up to $70 Billion. If a BIG company can create $40 Billion in sales using the OGSM process, you can definitely make millions using it.

I’ve used it for my own real estate and information marketing businesses. And let me tell you something: the OGSM process works!

What is the OGSM process?

I recently gave a powerful online seminar about how to make 2011 your best year yet. In it I discussed 4 principles. One of the principles utilizes the OGSM process. Click below to watch the video and let me know what you think:

http://howtomake2011thebest.blogspot.com/

dedicated to your success,

Trace

P.S. Are you based in Cebu? If so…I am doing the first ever “Think Rich Quick” seminar in Cebu on January 29-30, 2011. Get the ticket NOW while it’s P3,000 cheaper by clicking here – http://trqgold.com

How to Guarantee Every House You Buy Can Be Sold

2010-11-21T23:58:00.001-05:00

I buy and sell houses for cash and I buy and keep apartment buildings for cashflow. I figured you need to do both so that you will have the cash (from buying and selling houses) to buy apartment buildings which in turn give you passive income and long term wealth accumulation. The only requirement for this model to work is that you need to be able to sell the houses you buy. If you can't sell the houses you buy...you won't make the money you want to make or worse, you can even LOSE money. It's crucial therefore that you need to sell properties as quickly as you can. When you buy and sell houses, your profit is in direct proportion to the speed with which you sell houses.

DO you want to know the formula that guarantees every house you buy can be sold? Here's the formula: KNOW WHAT YOUR BUYERS WANT AND GIVE IT TO THEM. The formula is simple yet profound. It seems easy yet it works everytime. As always the things that work are always simple at their core and because of their simplicity, people assume they should NOT work. If you're looking at a complicated formula for selling every house you buy...you will not find it here in this blog post. In fact, if you think you need to do something complicated in order to succeed in real estate investing, I suggest you unsubscribe from this blog because you will not find complicated formulas here. Instead you will find simple, yet profound formulas and techniques that work. If you follow the formulas here, you will make money. Period.

There are 2 parts to this formula: KNOW WHAT YOUR BUYERS WANT AND GIVE IT TO THEM. Let's break it down. The first part is KNOW WHAT YOUR BUYERS WANT. How do you know what your buyers want? First, there are 4 types of buyers of houses:

1. The retail buyer or end buyer

2. The tenant/buyer

3. The landlord

4. The renovator/rehabber or developer

I've described who these buyers are in separate blog posts. What's more crucial is you understand exactly what your buyers really want. If they're retail buyers or buyers who want to live in the house you're selling for example, do you know...

1. what type of house are they looking for (condos, townhomes, house and lot, etc.)?

2. what's the size (of the lot and house)?

3. how many bedrooms and bathrooms?

4. the amenities they're looking for?

5. the price range?

6. the location or the area?

Do NOT gloss over this. Really dig deeper into what your buyers really want. Why are they looking for a 3 bedroom house vs. a 1 bedroom house? Are they going for one location because of the schools or because it is closer to their place of employment?

Sometimes, buyers do NOT verbalize what they want or they do NOT know what they really want. It's up to you to guide them. DO NOT make any assumptions. Doing so can lead to disaster or at best to you wasting your time and your buyer's time.

Also, do NOT waste time with buyers who are NOT qualified. You need to qualify them over the phone. Do they have the downpayment and the financing lined up so they can buy your house? Do they have a stable income that banks which will finance them want to see? What documents can they show you that prove this?

Once you have qualified buyers in your hands and you KNOW exactly what they want, it's time for the second half of the formula: GIVE IT TO THEM. How do you get the house your buyers are looking for? There are 3 steps:

1. Focus on a target area/location and do eXtreme Marketing

2. Pre-screen the leads, analyze them and make offers

3. Close the deal

Focus on a Target Area and Do eXtreme Marketing

One of the things you need to understand is the area or location your buyer is looking for. It's important you NARROW the area you want to buy houses in. Narrow it down to the level of a neighborhood or a subdivision. If your buyer wants to buy in a city...force the buyer to focus on a certain part of town, then down to a neighborhood. You cannot do a good job at finding the right deal for your buyer if you're forced to spread your marketing throughout the city.

After you narrow your focus you can do eXtreme Marketing. The goal is to create perceived dominance in the neighborhood through your marketing. This means that the entire population of the neighborhood will think or assume that you are the dominant real estate company in the neighborhood. You do this specifically by passing out flyers door to door. Enroll every citizen of the community to become your talking and walking billboards. "Bribe" them a referral fee so they will look for the right house for you. Put out 20-50 bandit signs in the busiest street corners or intersections. Talk to real estate agents who specialize in the area to find out if they have listings that match what your buyers want and to ask them to look for properties for you. Your marketing has to create enough buzz in the community that your phone should ring off the hook with potential leads. If you're not getting at least 10 phone calls a day from your marketing, your marketing is not eXtreme enough.

Pre-screen the Leads, Analyze Them and Make Offers

Once prospective sellers of properties call you, use the WOWWW formula to pre-screen the leads. You need to deal ONLY with sellers who are desperate to sell and willing to lower their price or give in to your terms. Once you figured which leads are worth looking at, analyze them using my Universal Acquisition Equation. Lastly, formulate what offers you're going to make using my Universal Acquisition Flowchart.

Make the offers in writing and either fax or email them to your seller. Negotiate over the phone versus wasting time visiting properties. In the real estate business, you do NOT get paid based on the number of properties you visit. You are paid based on the number of offers you make. The more offers you make, the more deals you're going to do. The more deals you do, the more money you make.

Close the Deal

Once you get an accepted purchase contract signed by the seller (via fax or email), it's time to close the deal. The way you do it in the right way is to visit the property and bring your buyers in tow. Get your buyers to inspect the property and more importantly, get your buyers to BID against each other so you can get the highest price for the property. Once you get a signed Sales Contract from one of your buyers, ensure you collect a sizable non-refundable earnest deposit (or reservation fee). You need to ensure your buyer is serious and will most likely close. At this point, you need to ensure all the documentation required to get the deal closed are lined up. Ask your lawyer to ensure these documents comply with the laws in your area. Follow up the buyer to ensure his or her financing is approved or being lined up. There are many things that could fall apart at the last minute and you need to be on top of all the details. It's NOT over until it's over.

dedicated to your success,

Trace

P.S. Do you have a property you're interested in buying but you're not sure if there are buyers for it? Stop guessing and hoping you will sell the house. Attend my webinar this Saturday to ensure you have buyers for any property before you buy it. Click here https://www2.gotomeeting.com/register/581918611

How to Profit from the Impending Real Estate Collapse in the Philippines

2010-11-07T16:36:00.002-05:00

Over the past 3 weeks I've shown you ample evidence that the real estate market in the Philippines is on its way down. It's just part of the natural boom-bust cycle. I've also shown you the 4 market phases. Lastly, I've shown you how my predictions in the past have come true driven by knowing these 4 market phases.

In this blog post, I will show you HOW to profit from this impending decline in real estate prices. The first scenario I will discuss is WHAT IF YOU DON'T HAVE A PROPERTY YET. The second scenario is WHAT SHOULD YOU DO IF YOU ALREADY HAVE A PROPERTY. In my next blog post, I will show you HOW YOU CAN MAKE predictions like what I did so you can anticipate and more importantly profit from the coming market cycles.

Scenario 1: You Don't Have a Property Yet
Here are the things I will do if I were you:

1. Buy-and-sell houses: WHAT???!!! You might be thinking "Trace...you just told us that the real estate market is about to go down and you want us to buy and sell houses?!" Yes you should. Here's why: you can buy and sell houses in ANY market but HOW you buy and sell will depend on the market. You need to learn real estate strategies like how to buy houses no money down and then turn around and sell them in a few months, even in a few weeks. By learning how to earn in real estate quickly, you are able to RAISE CASH which you can use to acquire CASHFLOW producing properties AFTER the market goes down.

2. Learn how to buy cashflow producing properties. Cashflow producing properties are always profitable regardless of the market specially in the Philippines which is a predominantly rental market anyway. Notice I said "you should learn"...I did not say you buy one yet.

3. Buy cashflow producing properties AFTER the blood on the streets has DRIED. They say that to succeed in investing you should do the exact opposite of what the masses do. You should BUY when the masses are selling and SELL when the masses are buying. There is an element of truth to this but to be more precise...you should NOT buy immediately after there is blood on the streets. That is you should NOT buy yet immediately after the market goes down. The bad thing about doing so is the price will go down even further and you could lose money. Buy after the blood has dried. Wait for a while (a year or two after the decline) and see if the price stabilizes. If the rate of price decline starts slowing down...or better yet, if the price stops going down then that is a good indication it's time to buy.

When the price stops going down...that means the big developers and investors have swooped down and removed the excess inventory in the system resulting in stabilization of prices. This is signal it is the right time to buy.

Scenario 2: You already Own Properties

1. Sell and Raise Cash: unless the property you have is generating MASSIVE cashflow, you should SELL as many properties as you own. CASH becomes KING in the next part of the market cycle specially as the banks stop making loans. You need to raise cash to have the ability to buy as many properties as you can specially when the price of real estate stops going down (Buyer's Market Phase 2).

One more reason for you to sell now is this: you will have to wait a long time before prices go back to where they are now. You might as well profit NOW and then reinvest your money in cashflow producing properties instead.

2. Buy and Sell Houses - for the exact same reasons I described above which is to raise cash. You need to learn how to sell them quickly though. Strategies like affiliate real estate marketing and wholesaling should become staples of your investing portfolio. If you don't know these 2 strategies...you should sign up as a member of BuyFirstDeal.com. It is a totally free website dedicated to helping beginning real estate investors acquire and profit from their first deal quickly.

3. Exchange 3 Houses for a Hotel - remember the game "Monopoly" where you can exchange 3 blue houses for a red hotel? Given you have properties already that you can sell...you should seriously consider using your capital gains to buy COMMERCIAL PROPERTIES like apartment buildings and office spaces. Office spaces are going to become even more lucrative as the US economy recovers and the Philippine business outsourcing providers recover with it. I have some students who specialize in commercial properties and they were telling me that office space vacancies are dropping and demand is climbing in the Philippines. Despite the negative news in the media and rumors of a "double dip" recession...small and medium sized businesses are recovering and like in past recessions, they will bring the US economy away from the red and back to the black. You want to profit from this and the way to do this is through investing in office space.

To summarize... learn how to buy and sell houses (using "quick" strategies like wholesaling and affiliate real estate marketing) regardless of the market. By doing so, you will raise CASH which becomes crucial when the real estate market goes down. If you own properties, unless they're generating massive cashflows, you should sell them now, raise cash and consider investing in commercial properties specially office space.

In my next blog post, I will give you the fundamentals so you will learn how to anticipate market cycles and more importantly, how you can profit from doing so.

dedicated to your success,
Trace
P.S. In the last TRQ 2.0 seminar, I taught the attendees my magic script for raising money for real estate deals. In front of the video camera, 300 people were able to raise P230,700,000 in just 30 minutes! To learn how they did this, click here and register for the webinar: https://www2.gotomeeting.com/register/557466482

Why The Philippine Real Estate Market is About to Collapse

2010-10-25T19:59:00.011-04:00

Building from my blog post 2 weeks ago I am going to show you ample evidence why the real estate market in the Philippines is about to collapse...or go into what I call a Buyer's Market Phase 1 (declining market). I will also cite what happened in the past to give you an idea how bad this can be. Lastly, I will give you some tips on what you can do to prevent losing big time when the collapse happens.

Here are some of the reasons why the real estate market in the Philippines will go down.

1. Hyped up and unsustainable pricing - property prices in the Philippines have gone up 59.3% from 2005 to 2008 (16.2% after adjusting for inflation). This is not sustainable given the global economic recession. Two of the country's biggest developers - Ayala Land and Megaworld have suffered declining real estate sales in the first quarter of 2009 (demand has fallen by as much as 10%). After adjusting for inflation, real estate prices have declined by 0.6% and this is only the beginning.

2. Weakening dollar equals weakening demand- A big chunk of real estate in the Philippines is being bought by overseas Pinoys. As the dollar continues to weaken against the peso the cost of owning real estate becomes higher and higher for the overseas Pinoys who earn in dollars. More expensive real estate equals lesser or weaker demand. Here is the proof: the percentage of properties from Ayala Land bought by the overseas Filipino has declined as the dollar continues to weaken:

Year 2006 - 37% of properties were bought by the overseas Filipino
Year 2007 - 32%...
Year 2008 - 24%...

3. Over building- there is a lot of overbuilding going in the Philippines. Mortgage interest rates have gone down and this lower interest rate encourages builders and developers to continue building. Here's an early sign for the overbuilding: Colliers International reports that Makati vacancy rates of luxury condominiums rose to 9% in Q1 2009, up from 8.4% a year earlier. And this is only the beginning. Completions of dwellings started one to two years ago are expected to add to the oversupply. In Metro Manila, around 4,200 residential units are expected to come to completion in 2009, while around 5,400 more completed units are expected in 2010. As more supply comes in the market place with expected drop in demand...guess what will happen to the price? Yup - it will go DOWN!

If history is any guide...I expect this real estate market collapse to be a "blood bath" for the real estate speculator (one who buys real estate hoping the price goes up). During the Asian Crisis, Philippine luxury condominium prices dropped 18% (25.3% in real terms) from 1997 to 1998. Between 1997 and 2004, luxury condominium prices dropped 34.4% (56.2% in real terms). Here is the graph (and pay close attention to how low it went...right in the middle of the graph.

Now that You Know The Collapse Will Happen...Now What?!
Last March 2009 I already advised my students to sell whatever properties they have and raise cash. And my advice remains the same: unless that property is generating massive cashflows SELL NOW. If you own a luxury condominium in Makati and you cannot afford a 50% price decline - SELL NOW. Raise cash and use it to accumulate cashflow producing properties instead. Stop buying real estate for appreciation or hoping the price goes up and start buying real estate for its yield or cashflow.

Also...when the price goes down...should you BUY immediately? Not exactly either. I will talk more about HOW to PROFIT from the impending real estate collapse in the Philippines in my next blog post.

dedicated to your success,
Trace

P.S. The data and graphs I used in this blog post came from an article from Global Property Guide at http://www.globalpropertyguide.com/Asia/Philippines/Price-History

P.P.S. The recent TRQ 2.0 ("Think Rich Quick 2.0") seminar was a resounding success. 300 people attended and most importantly, the reviews I've gotten were phenomenal. One of my students "failed" to attend the seminar but good thing his wife did. Her skeptical wife quickly became a "convert". Here's his blog post about this TRQ experience: http://ezefoncardas.blogspot.com/2010/10/how-my-wife-changed-her-mindset-about.html

Impending Real Estate Collapse in the Philippines

2010-10-16T23:22:00.005-04:00

The image above is the satellite image of Ondoy - the typhoon that has caused the worst flooding in the Philippines in 50 years. I would like to let you know...there's another "typhoon" that is coming and it will be worse than Ondoy. It's a financial hurricane that will wipe out real estate values and it will hurt many people. I don't want to scare you but I want you to be prepared. During this series of blogs over the next few weeks I will patiently explain why the real estate market in the Philippines will decline by first explaining to you the basics of market cycles...and we'll end the discussion with what you can do to avoid the impending disaster.

But first...who am I to make this bold...but unwelcome prediction?

Here's my track record:

1. In November 2005...in a Toastmasters' speech, I predicted the collapse of the US real estate market. In late 2006...the US real estate market imploded...and real estate values dropped by as much as 50%. I have to admit the decline is actually worse than I expected.

2. In the same speech, I predicted the collapse of the stock market, the US economy, the fall of the dollar and the unemployment rate. Every single prediction happened.

3. In a closed door seminar with my closest students in September 2007...I was asked if it was a good time to invest in Dubai because prices were going up and developments were happening left and right. My answer: NO. Do not invest. In late 2008, the Dubai real estate market collapsed...by as much as 30% in just a few months!

I don't have a crystal ball but my track record speaks for itself. The truth is...even though my record is quite impressive...it's actually very simple to make these predictions. Do you want to know how I did it?

Real Estate Market Cycles Explained

There are 4 market phases.
On the right side of the graph above...is Seller's Market Phase 1. In this phase of the market, property values increase proportional to inflation. This is the normal market. Just ignore the "CF values" above. I will explain what those are in another blog post. For now...pay attention to the shape of the curve.

In this phase of the market, it's good to buy-and-hold. Why? Because prices are going up...and even if you buy properties at market values...it's OK because over the long run, you'll be rewarded.

As more and more people realize that real estate is a good investment that tends to go up over time, more and more people buy real estate. The builders and developers can't keep up with the demand resulting in prices going up (this becomes a self-fulfilling prophecy: the attitude of the buyers is this - "I will buy real estate because the price goes up." But as more people buy real estate, the price goes up!). This results in the beginning of the Seller's Market Phase 2. People call this the HOT market. A this point, the appreciation rate is HIGHER than inflation. The media is telling people real estate is the best investment and everybody needs to jump in it.

At this stage in the market, I advice my students to SELL their properties and raise CASH. Why? Because they can use the cash to buy properties in the next 2 phases of the market.

Banks and financing institutions will follow the money. They see prices of properties going up and they become lax in their lending guidelines because they want to get in the action. The flood of cheap money will result in builders and developers building more and more properties. At some point however, they will overbuild. Slowly, sales will start to slow down because now there is more supply than demand. This signals that the peak is near.

What happens next is a the start of a vicious cycle that is the exact opposite of the self-fulfilling prophecy that happened in Seller's Market Phase 2. Some builders and developers will not be able to keep up with their inventory levels resulting in foreclosures. As more foreclosures come into the market, prices decline. To compete, the remaining builders, developers, real estate investors and home owners need to sell their properties at a lower price. When this happens, more and more inventory remains in the market resulting in more foreclosures...which in turn results in lower prices...which in turn means more foreclosures. The rate of decline is now accelerating. You are now in a Buyer's Market Phase 1. People call this the Declining Market. At this stage of the market, it's good to remain in the sidelines and only buy properties you can buy at a BIG discount (way below market value) AND properties which produce tremendous cashflows.

The same banks which was greedy and reckless in giving out loans during Seller's Market Phase 2 are now going under. They have tons of foreclosures in their books and they are becoming more and more motivated to get rid of them at ridiculously low prices. At some point, prices are going to become so low that it will attract the attention of the BIG real estate investors with BIG money who are going to buy these foreclosures in bulk. Silently, these BIG players are going to remove a lot of inventory in the system so much so that eventually, the price decline will stop as the demand equals supply.

This...ladies and gentlemen is BUYER'S MARKET PHASE 2. I call this phase the Millionaire Market Phase because if you buy as much real estate as you can...you will become a real estate millionaire. I don't care what you do...borrow the money if you can...but you need to bet the farm. If you do...you will become a millionaire several times over....even a billionaire. Henry Sy started building his SM empire of malls and mega-malls in 1983 - one of the worst times in Philippines' history. Inflation and unemployment was high...there was a lot of political uncertainty....and yet Henry Sy was buying land in the midst of widespread pessimism. And he was rewarded for going against the tide.

Now that you know the 4 market phases...it will become easy to understand why I predict the real estate market in the Philippines is going to go down. Still not convinced? In my next blog post...I will give you some "signs" or evidence that the collapse will happen.

dedicated to your success,
Trace
P.S. There are only 35 slots left in my upcoming TRQ 2.0 seminar. If you have not registered yet...click here - http://trqgold.com before seats run out.

Is Your Spouse Your Number ONE Barrier to Becoming Rich?

2010-10-09T08:45:00.004-04:00

I was asked the question once in a webinar, "What will I do with my husband who does not think that we can become rich? He has a lot of self-limiting beliefs and he does not want me to invest in real estate."

First of all, this problem is all too common. I was in a seminar with Bob Proctor - one of the stars of the movie "The Secret" and the ultimate authority on developing a wealth mindset. He was asked a question similar to it and it goes something like this, "Bob, what should I do with my husband who does not want to go on this wealth journey with me?"

I have a student who struggled and continues to struggle financially because she claims her dad is her number 1 barrier to becoming rich. She wants her dad to be convinced that becoming a real estate entrepreneur is for her. Her dad wants her to remain an employee.

What about you? Is your spouse...or someone with the same last name as you...your number 1 barrier to becoming rich? I am going to tell you something that you do not like to hear/read...and frankly, you might even unsubscribe to my blog as a result. But I don't care. You read my blog to learn how to earn not to feel good about where you are. Because frankly, where you are is not where you want to be...right? If so...here is my provocative...even potentially offensive statement to YOU who think that your spouse is your number 1 barrier to getting rich: YOU ARE A LIAR!!!

Yes. You are lying to yourself. You are using your spouse as a scapegoat for your poverty. Frankly, your number 1 barrier to you becoming rich is YOURSELF. Take responsibility for your life my friend. You might have a wife or husband that is a pain to deal with. You might have a spouse who does not believe in you. You might have a spouse who does not believe you can become rich. You might have a spouse who has stinkin' thinkin...a spouse who is negative and pessimistic. Yes - it is difficult to become rich and it becomes even more difficult when you have a difficult spouse. But...YOU are responsible for your life...even if you're married. The truth is if you believe that it is possible for you to become rich...and if you believe it bad enough, your spouse will go on this journey with you or at least he/she will not become a barrier. Besides you're an adult. Stop asking your spouse for permission to succeed. Grow up.

Let me share with you something personal: MY WIFE was difficult to deal with too. She was pessimistic and negative too. When the real estate market was good...she was pessimistic. When the market turned south, she became even more pessimistic. For a while I was lying to myself. I regarded her as my barrier to becoming rich. For the longest time I tried to get her approval. For the longest time I was subconsciously asking her for permission to become rich. I was asking her for permission to succeed. As a result...I struggled financially because I was waiting for that permission to be granted.

Looking back the truth was...the problem is NOT my wife. The real problem was my lack of belief. I did not share her goals with her. I was afraid she would laugh at them as unrealistic. Subconsciously, I did not believe in my goals and so achieving them eluded me. I even became guilty when I worked on my real estate business specially when she pointed out I did not have time for her.

But one day I decided enough is enough. I realized the real problem is ME. I did not believe this wealth journey bad enough so my resolve weakened at the first sign of disapproval from her or at the first sight of problems. I talked to her and I told her "Do not be a barrier. I will do this and even though you don't want to go with me...just don't be a hindrance." It was a tough conversation. We both had tears in our eyes. We were shouting at each other but I hardened my resolve. For the first time we had an argument and I did not apologize (I usually apologize first).

And you know what...from that time onwards, I started seeing checks coming in from multiple sources. I started showing her the checks. I slowly shared with her my financial goals. I was no longer afraid. I no longer had doubts. I already believe....and when I started believing...the results manifested and my wife started believing too.

What about you? Life is too short my friend. Stop lying to yourself and start taking responsibility for your life. Start taking responsibility for your results or lack of it. It's time you start really believing that you too can become rich!

dedicated to your success,
Trace
P.S. 250 people already signed up for my upcoming seminar TRQ 2.0 and there are only 50 slots left! Click her'e to reserve your seat - http://trqgold.com

Are You Too Broke to Become Rich?

2010-10-01T20:06:00.004-04:00

Let's say you inherited $1 Million from a long, lost uncle who just died. You are even surprised your name is mentioned on his Last Will and Testament. You have mixed emotions of course. You're obviously sad because he passed away but you are elated you inherited a windfall. BUT...then the attorney said "BUT...you cannot get the $1 Million right away. The cash is on top of Mt. Everest." The attorney even showed you the picture.

The attorney continued, "If you can get the cash within 12 months of your uncle's death...the $1 Million is yours. But if you cannot, the cash will go to a charity." You can't believe what you are hearing. Then it occurs to you that yes your late uncle is eccentric and so this $1 Million on top of Mt. Everest 'challenge' comes as a no surprise.

BUT...when you sit down with your spouse you realized you have 2 issues.

1. Based on your research, you will have to spend $50,000 to pay for a guide, a staff, get all the supplies and pay for the plane fare to get there. Here's the issue: YOU ARE FLAT BROKE.

2. You are 50 pounds overweight, you never climbed any hill much less a mountain and your doctor told you last year you have weak lungs. Here's another issue: YOU ARE NOT CAPABLE of climbing Mt. Everest.

Oh...and your spouse...she tells you, "But honey...this is too dangerous. I will not allow you to go on this journey. You can't even climb the steps without losing your breath. And where will we get the money?"

Your spouse's objection to this is now your third issue.

Why am I telling you this story? Because embedded within this story is the path to wealth, the barriers to achieving it and your attitudes when faced with difficulties.

Let's tackle in this blog post the fact that you are broke. You don't have any money. Worse, you are deep in credit card debt. BUT if you KNOW you're going to make a million dollars but you need to spend $50,000...will you move heaven and earth to find that $50,000 that will be your ticket to getting that $1,000,000? How will you do it? What will you do today that you have not been doing? Who will be the people you will seek out? Are you going to borrow the money? Are you going to ask yourself "How can I afford this?" or...

...are you too broke to become rich?

Yesterday, I saw this email: (I am copying it word for word in it's unedited form but I will not put the name of the sender for obvious reasons)

"I'm very sorry but i cannot afford it [my seminar], I have more priority outstanding commitment, that's how grave my desire to overcome the financial difficulties to get out of the rat race. I admire your commitment to help a lot of people and I'm very thankful and grateful for the email I receive from you and webinar I've attended. I completed reading as well the "Rich Dad, Poor Dad" book of Robert Kiyosaki and truly it more broadened my financial literacy. Truly Trace, I'm trusting GOD that hopefully soon, me and my family will overcome this problem with the teaching, inspiration and testimonies of success stories of others you share with us. Still, I'll persevere and surely will not hesitate to share my success story someday. Thank you very much! and best wishes to you and your family. More power and success to your cause!!!"

As you can see...this person has decided he or she is too broke to get rich.
He/she would rather pay the bills than invest in himself or herself. I am not saying you should not pay your bills. But...every successful person I know invests in himself through reading books, attending seminars and getting mentoring and coaching. Last week, I just bought a $12,000 course because I believe this course will make me $100,000 a month.

Bo Sanchez, a preacher, best selling author and successful businessman allocates the majority of his expense to his continual education and training. He pays more for books, seminars, and mentoring than food and house payment. That's why Bo's income continually expands and he helps a lot more people in the process.

In contrast, unsuccessful people pay everyone else - they pay the government first through taxes and they pay their bank through their house payment and then they pay all their other bills. But they never bother to invest in themselves and so they never expand their income.

What about you? Are you too cheap to invest in yourself? Some people are willing to spend $400 on a cellphone - say an iPhone and yet they find a $100 seminar expensive. When you do this, you are telling the Universe that YOU are not worth investing in. The Universe corresponds by limiting the income you can receive in your life.

I spent $350 for my first real estate seminar and I can honestly say it has since made me probably tens of thousands or even hundreds of thousands of dollars in income. Seven years later that seminar is still paying me dividends.

What opportunities are you missing because you are too broke to become rich? Maybe you are one book...one seminar...or one mentor away from becoming a millionaire. You can't even afford to buy a book? Ask yourself "How can I afford it?"

If you mother got hospitalized and you have one week to raise P1 million or else your mom will die...what will you do? Will you just say "Mom...I am sorry....I cannot afford P1 million so we'll just watch you die." Of course NOT. You will move heaven and earth to come up with the money. You will sell half of your wardrobe, you will pawn your car, jewelry, even the title or deed on your house...you will borrow from relatives you have not talked to in a while. You will borrow money from your officemates. You will negotiate with your creditors and tell them your mom is going to die and they will have to wait to get paid. You will even beg strangers to help you.

Again...you will do everything you can...and you will give not just your best. You will do everything that is required to raise that P1 million. You will not stop until you've exhausted every opportunity, every possibility, every idea you can think of to raise the money. You will do all these things because you COMMIT yourself to saving the life of your mom.

The question is: WILL YOU COMMIT YOURSELF TO GETTING RICH? If so, you will never to be too broke to become rich. You will do everything that is required...and you will never stop until you've exhausted every opportunity, every possibility, every idea you can think of to become rich. You will read every book...attend every seminars...and pay for mentors even when you cannot afford them. And you will work your ass off to be IMPLEMENT everything you're learning. You will take this business of becoming rich seriously.

When you do...my friend...you are going to tell the Universe that you believe you have $1 Million with your name on it. And the Universe will correspond by making you rich.

dedicated to your success,
Trace
P.S. If you have not registered for my upcoming "Think Rich Quick" seminar you should while it's P2,000 cheaper. Here's the link - http://trqgold.com. After October 7... the seminar ticket is going to be P6,995. Ouch!

Confessions of a Shy BUT Rich Salesman - The Last Chapter

2010-09-19T21:38:00.002-04:00

Chapter 7
Greg Refused to Join the Recession

"SO how much more money do you earn now than before the recession hits? Did you increase it by 20%, or 50%...?" I asked. In between sipping his beer, Greg gave me a big smile and with that familiar soft voice he said, "Trace, ever since the recession hits my business has TRIPLED." I almost choked on the beer I was drinking. My jaw dropped to the floor. I couldn't believe what I was hearing.

Here is a mortgage broker who is not only surviving he is thriving in the worst recession in history...he is making even more money NOW in the worst real estate market since the Great Depression. "Wow!" I was trying to hide my disbelief. "How was this possible?" I asked Greg.

Greg, in his usual calm manner said, "Well Trace...when the real estate market collapsed, 80% of mortgage brokers went out of business." At the time, I just read in the news what Greg was talking about. When the real estate bubble popped banks no longer want to lend money to home owners who want to buy homes. Lenders also were not giving borrowers a chance to refinance their loans. Both moves by the banks mean mortgage brokers lost their livelihoods. When the market was hot and anyone who can fog a mirror can get a loan, everybody wanted to be a mortgage broker and real estate investor.

I asked, "How did you thrive when 80% of mortgage brokers lost their shirts?"

Greg replied, "What I did was I positioned myself even before the recession as someone who is an adviser not a salesman. I advise people what is best for them financially, even though it will not necessarily make me earn the most fees."

He continued, "As a result, while most of my competitors lost their clients' trust when those very clients they gave the wrong mortgage products to, I gained a reputation among my clients. My clients are thriving not losing to foreclosure. They can still refinance as a result. They do business with me over and over again. And, they refer me to their friends and family."

I couldn't believe how simple this sounds.

Greg added, "Those mortgage brokers who went out business...guess to whom their clients approached?" "You of course.", I completed Greg's sentence...now realizing how profound this really is. "Before, I have a lot of competition...but now it's so easy." Greg's last sentence is testament to the power of good service. Mediocrity has become the norm and when the market was hot and it was easy, the bad in rendering their service still earned money. But when the economy became tough, only the good ones earn money...and since the bad ones are gone...the good ones earn even MORE money!

Greg continued, "And you know what Trace...since the clients I brought to the banks did not go into foreclosure, a lot of the banks trusted me as well. And so it was easy for me to get them to approve the loan requests of my clients." I am amazed at how elegant it is. The banks distrust most mortgage brokers because a lot of them made their borrowers' profile look better than they really were. As a result of some of these shenanigans, a lot of banks suffered from borrowers who later on defaulted on their mortgages. But Greg's clean and honest reputation helped him. It helped set him apart from a lot of the mortgage brokers who went for the quick buck at the expense of both the bank and the borrower.

Being a good guy pays off. Being GOOD is a powerful, long term business strategy. Live and learn.
-----------------------------------------------------

By the way, Greg called me a few months back. He is no longer renting a house. He bought a small house when he started as a mortgage broker. Now, he is looking to buy a $500,000 home and he was asking me for help.

If you are looking for something "fancy" or an "exotic" tactic that will help give you the edge versus your competition, the series "Confessions of a Shy But Rich Salesman" is a disappointment. But if you're seeking the truth, if you're seeking strategies that will always work regardless of the economy, I hope the "Confessions..." has been a powerful series of stories that will help you make even more money NOW during the recession. If it has affected you emotionally, or even better if the "Confessions..." has put money in your pocket or it has helped you earn more money, send me an email at moneyyoda@gmail.com. I might have a "Thank you" gift for you.

I remain...

dedicated to your success,
Trace

Confessions of a Shy BUT Rich Salesman - Chapter 6

2010-09-13T20:39:00.002-04:00

Chapter 6
When the Recession Hits

Greg proudly showed Melissa his first check as a mortgage broker - $1,000. The home study course that he bought is surely paid by now. Greg emailed Francis - asking for a referral. Greg also put an email signature asking people to refer him any of their friends and family who want to either refinance their home or buy a house.

And the referrals kept pouring in. Francis referred all his friends to Greg including me. That was how I met Greg. I met him at a golf course (one of the few times I played golf in my life!). Greg drove the golf cart and just like Francis, Greg came across as very professional and friendly guy. I got Greg to do the refinance of my house. I also got his help as I bought a $400,000 investment property. I was so happy with Greg's service I also referred him to my buyers as well as to my friends. All in all, I probably gave Greg about $1,000,000 in business!

But you know what? Honestly, I thought Greg would not survive the recession.

The recession hits everyone who are into the real estate business with varying degrees of severity. There is NO specific date when the recession hits. It just happened over several weeks (and it continued to drag on...as to when it will end...no one really knows). We heard the debacle about Lehman Brothers. All the mortgage loans that have been mixed and diced with Collateralized Debt Obligations have been deemed as toxic assets. AIG was rumored to be on the brink of collapsing same with Lehman Brothers but it was bailed out by the feds. It was a tumultuous time and Greg and I lost contact with each other.

One day, I opened our mailbox and found a familiar package. It was Greg's newsletter. He sends it quarterly to all his clients. I remembered Greg because of this. I called Greg,

"Hi Greg. How are you doing?"

"I am great, Trace. And you?" Greg responds with his soft voice.

"I am OK. How are you doing with this recession? I read that 80% of mortgage brokers went out of business", I carefully asked Greg.

Greg said, "Actually Trace, I am making more money now than before the recession."

My jaw dropped. I smiled, "Really? Wow. Good for you! I would like to interview you." I enthusiastically asked. Then I explained that I am interviewing people who make more money now during the recession than before the recession. I was inspired when I read one of Bo's blog posts where he recounted the story about his aunt who is a real estate agent and she was making money even during the recession. Bo's aunt (based in California) exclaimed "I refuse to join the recession!"

------------------------
NEXT WEEK...Find out Greg refused to join the recession.

P.S. On Thursday, September 16, 9 PM eastern time, I am interviewing a "High volume real estate investor". This guy literally buys 5-10 houses a month. Learn how to do this by clicking this link - https://www2.gotomeeting.com/register/803433826

Confessions of a Shy BUT Rich Salesman - Chapter 5

2010-09-06T16:07:00.001-04:00

Chapter 5
Greg's First Client

Francis' litany of questions caught Greg by surprise but only for a second. Greg quickly regained his composure, he took a deep breath and he started answering Francis' questions with "cool competence". Francis was impressed. He liked what he heard. He admired Greg instantly. Greg's pleasing, trustworthy and "non-sales" personality helped a lot. Greg's being soft spoken and acting more of a consultant was crucial in winning Francis' trust.

That evening, Greg immediately sent an email to Francis and without being asked by Francis, he provided Francis a scenario analysis of the different options that Francis has and their financial implications. Francis was impressed even more. Francis didn't know that Greg really spent a lot of time doing this. He did good work and it showed in the results.

Greg immediately followed Francis by phone call the next day. Again, Greg learned from the home study course he ordered NOT to be pushy but act more as a consultant. "Think of the client's needs first before your own" is what he read and he immediately applied it when dealing with Francis. This is consistent with what Greg believes in. It's consistent with his values. Greg felt good about this "selling" style. It's not selling at all.

Greg found a mortgage loan from a bank that would benefit Francis a lot but Greg will make only $1,000. Greg could push Francis to go with another mortgage loan that on the short term would help Francis but it would really be a bad idea over the long term...but Greg could make twice the money. Greg was tempted to convince Francis to go with the second mortgage loan but he immediately decided to go with the right thing to do. Greg presented the 2 mortgage loans to Francis and explained to him the pro's and con's of each one. "Which one do you recommend?" asked Francis. "The first one - and here's why." Once more Francis liked what he heard. Greg came in well prepared and Francis agreed with his recommendation.

"Let's do it. What paperwork do I need?" asked Francis. Greg was in "cloud 9": Francis was his very first client!

30 days later, while Francis and Greg went to closing. The title company gave Greg his first check - $1,000. Greg gave Francis several business cards and asked if he can refer clients to him. Francis said "Sure. I will keep you in mind." They shook hands.

---------------------------
Let's analyze how Greg got his first client and what we can re-apply in real estate investing.
1. Instead of "pushing" products to people like what traditional "extrovert" salesmen do, make people want to buy...that is make them "pull" you towards them. How do you do this? See #2...

2. Act more of a consultant than a salesman. People don't like to be sold to. By acting as a consultant and presenting different options to Francis, Greg won Francis' trust and rapport. When people trust you, the chances of them doing business with you increases.

3. Think more of the client's needs and wants versus making a quick buck at their expense. Think long term: referrals and repeat business vs. short term one-time but unsustainable gains.

Next week, we'll discuss Chapter 6 - When the Recession HITS (and what Greg did to survive!).

dedicated to your success,
Trace
P.S. Most beginning real estate investors quit investing in real estate because of lack of capital. I taught 163 people in a seminar how to raise capital. In front of the video camera I helped 163 people raise P31 Million in just 31 minutes. I wrote an ebook summarizing what I taught those 163 people. Click here - http://raisemoney1.22web.net/

Confessions of a Shy BUT Rich Salesman - Chapters 3 & 4

2010-08-28T13:42:00.004-04:00

Chapter 3: Learning the Ropes

He is very soft spoken and very shy. In the beginning he was struggling. He did not have any clients. In contrast, his friend Bud was having the time of his life. He has clients left and right and the money is just pouring in specially now that the real estate market was heating up.

Greg being a highly analytical person analyzed what he was doing wrong and compared it with what Bud was doing right. Bud was outgoing. Greg couldn't see himself as changing his personality so becoming who he is NOT is something that Greg was not prepared to do. Bud is good in getting clients and Greg was amazed when he found out that all that Bud really does is ask for referrals. Since he provided good service, the referrals came pouring in.

Greg read in the book of Proverbs, "Make plans by seeking advice; if you wage war, obtain guidance" (Proverbs 20:18). Greg needs advice - the dilemma is he couldn't get clients referred to him because he does not have his first client yet. Good thing Melissa is working as a teacher so they have food to eat and they can pay the rent. It's ironic that a mortgage broker like him who advises people how they can get bank financing to buy a house couldn't actually afford one.

Then one day, browsing the internet in the wee hours of the morning, Greg found a website that teaches mortgage brokers how to get clients. He couldn't believe what he was reading. This was his exact problem - not having any clients to begin with. This was exciting stuff. His heart was pounding as he did something he has not done before.

Out of desperation, he silently took his wife's credit card out of her purse and bought a $1,000 home study course he couldn't afford. He was sweating bullets as he typed in the credit card numbers. He was excited at the same time. What would Melissa say to him for stealing her credit card? She was fast asleep. Her beautiful face was so serene which was the exact opposite of the nervousness and turmoil that Greg was feeling right now. He could even hear his own heartbeat...

Will Greg press the enter button or cancel? He was faced with two options:
A. Do the exact same thing he was doing now...which was not working...or
B. Pay the $1,000...to learn something new and maybe...just maybe his life will be changed

He pressed the enter button and he ordered the course. He chose to change his life.

The Next Day
Melissa's serene face was no longer serene. She was livid. "Greg, how could I pay the $1,000 that you ordered online?!" she shouted emphasizing the word "I". Greg couldn't look at her straight in her eyes at first. But he decided to stand by his decision. Slowly and with a soft voice Greg explained to Melissa why he did what he did. Melissa became calmer and soon Greg saw that twinkle in her eyes that revealed the great love that Melissa has for him. Greg apologized for not asking her permission and Melissa apologized for saying hurtful words she should not have said.

Greg vowed to use the home study course and make it really work. He had no choice.

One Week Later...
The home study course appeared on Greg's door. Like a child on Christmas morning, Greg giddily opened the box. He read the manual even before breakfast and took copious notes. The seminary has taught him to be diligent in his study. He found the key to making this business work. In fact, it's the key that makes every business works. The key is MARKETING.

Marketing is NOT about selling but making prospective prospects raise their hand and tell you they're interested in what you're offering. Selling is hard but when you offer something to people in such a way that you make people want to buy it...selling becomes natural even for a shy person like Greg.

This is good in theory...but will it work?

Chapter 4: Putting it to The Test

Greg decided to put the theory to work. With his back against the wall he really had no choice. His love for Melissa pushed him. Yes he was shy but he needed to overcome that. Business cannot be done without talking to people. Business is all about relationships. How could he meet people?

His friend Bud invited him to play golf with some employees at Procter and Gamble. He could definitely play golf and he decided to give it a go. What's the worst that could happen?

To Sell Well...Stop Selling and Start Helping...
This was the phrase that Greg kept on repeating to himself as soon as he read it. People hate being sold to and yet people love to buy. So the fact is...if you sell stuff (whether it's real estate or a gadget, widget, lotion, potion or a service) in the same way a used car salesman sells to people...then chances are you will likely not succeed. When introverts try the conventional selling approach...they fail miserably. Why? Because they are using a style they're not comfortable with or a style they don't believe in.

Instead what Greg read in the home study course is the importance of providing value. Get the clients' trust and rapport by acting more as a consultant versus a salesman. Maybe they will buy from you...or maybe they won't but there's a good chance that they will.

At the golf course, Greg met Francis, a businessman and husband of a P&G manager. Francis asked Greg, "What do you do Greg?". "I am a mortgage broker." Greg smiled and shook Francis' hand firmly. "Oh...really. What's the current interest rate now?" "Do you think I should refinance?" "Or should I wait...what do you think?" Francis' litany of questions caught Greg by surprise.

{Find out what happens next...next week!}

Confessions of a Shy BUT Rich Salesman

2010-08-21T21:26:00.004-04:00

Over the next several weeks, I will tell you a true story. It's a story of a shy saleman. It's a story of his journey how he became richer during this recession while his "extroverted", "outgoing" colleagues went out of business.

No...this story is not my story but it's a story that I can perfectly relate with. For I myself am a shy saleman, an introvert like a lot of you. Read the story slowly. Imagine every scene in its vivid details. Try and feel what the Shy Saleman might have felt at every twist and turns. If you do, you will let the business lessons hidden in the story and the stories within the story sink in...down in your subconscious. And when that happens, you will learn the lessons, you will remember them, you will apply them in your real estate business and make money.

Are you ready? Here we go...

Chapter 1 - The Seminary

Greg knees feel tired from all the kneeling and praying. He wipes his tears from his cheeks and as he inhales he smells the incense and suddenly it occurred to him. The priesthood is not for him. He is in love with Melissa. He loves God but this is not the way. He cried even more as he realized this. He rose up, walked out of the chapel and knocked on the door of the Head Priest. "The priesthood is not for me Father." He expected a rebuke. He looked down fearing the worst. Instead he saw a smile on the Head Priest's face "Well then my son. Is that your final decision? You know you are free to leave." A big weight was lifted off his shoulders. He grew up in the strong Catholic family. He was used to being told what to do. He grew up shy under a domineering father and a demanding mother. What will they say when they hear his decision?

"I have a question though", says the priest...interrupting the train of thought that swirls in Greg's head. "What will you do for a living? How will you eat? How will you provide for Melissa?" Those questions are like big stones thrown at him at fast speeds he had no chance to avoid them. He did not realize all these. In the seminary...everything seems to be provided for. He grew up in an OK family but he never worked a day in his life. His dad forced him to focus solely on his studies and despite all the hardships, they never force Greg to get a job or earn some income. Now he wished his parents did. He began to panic.

Chapter 2 - Me, a Mortgage Broker?

Greg went to library and did the one thing he was good at. Research. His years of study at the seminary made him a contemplative but it further made him shy...extremely shy. It was a miracle he was able to find even the right words to say to Melissa when he first saw her.

Greg pored over books and magazines for something that he can do to make some income. He looks at the job section of the newspaper. He cannot find something that fits him. He goes to his apartment..frustrated that the seminary did not prepare him to make money. Well...it was not supposed to. He sits down the couch. A tinge of regret starts to creep into him. But his love for Melissa is strong. He calls her and her lovely voice on the other line has a calming effect on him. He is refreshed and his anxiety seems to evaporate in an instant.

As he hangs up the phone it rings immediately. He thought it was Melissa forgetting to tell her something but before he can even say a word he heard a loud familiar husky tone "Hey Greg! This is your hot golfing buddy "Bud"! I told you will get out." He laughed. Greg is shy and not really into sports but golf is the one thing he managed to learn thanks to Bud. He met Bud during his freshman year in high school and they clicked in an instant despite their very different personalities. He does not remember now how it happened but they are best friends ever since. Bud happens to find a job as a golf caddy and he invited Greg to do the same. Greg immediately fell in love with the sport and he studied it from Bud and the golfers who hire him.

Greg's reminiscing was cut short as Bud interrupts, "Hey Greg. I found this gig with one of my dad's friends. He is starting a mortgage brokerage company. I already joined them and I think you will like it there." "What? Me - a mortgage broker?" Greg replies. Greg always feels Bud is out there at times. "Greg...you're good in math right?" Bud asks. "Yes, but..." Bud interrupts him once again, "And Greg...in the seminary, aren't you trained to talk to people, right?"

Greg says "Yes, but..." Bud exclaims before Greg can finish his sentence, "Then you can do this Greg!" Greg thinks to himself "Alright, I will give this a try but maybe in a few months I will quit this. How will a shy person like me become a successful mortgage broker?"

{Next week...Chapter 3 and Chapter 4 of the Confessions of a Shy BUT Rich Salesman}

The Most Important Skill for a Real Estate Investor

2010-08-15T09:59:00.004-04:00

I did a quick survey during the webinar I did last Saturday. The question is: "What is the most important skill a real estate investor needs to have, is it...

a) Raising capital
b) Finding good deals or
c) Selling or leasing a property quickly

25% answered Raising capital

25% answered Finding good deals

and 50% said it's Selling or leasing a property quickly

All of the above skills are important. YOU need to develop all three skills but if there's only one thing you NEED to absolutely learn it is...Selling or leasing a property quickly. Here's why:

1) You can buy properties with "no money down". I've bought my first $3 Million worth of investment real estate all with "no money down". It takes a little bit more work to buy properties with "no money down" but it can be done. You need to find the right seller in a situation such that he/she will be amenable to you taking over his/her property with no money coming out of your pocket. For one example of how to do this, you can read my book "Think Rich Quick" and read the chapter on Rent to Own.

2) You can get good deals from other investors called wholesalers. You can buy them to renovate or rent them or re-sell them (what I call "Affiliate Real Estate Marketing"). The beauty of this approach is that you don't have to do the work of inspecting so many properties, make a ton of offers, deal with unmotivated sellers, etc. The deal is a "done deal" and all you need to do is buy them. Of course, you need to know how to evaluate whether a deal is a good one or a bad one. You need to know how to do your due diligence. BUT bottomline, finding good deals can be outsourced.

3) A good deal can become a bad deal if you can't sell or lease it quickly. I don't care even if you have acquired the deal of the century. I don't care even if you have bought a property at a 50% discount. I don't care even if you get a property NO MONEY DOWN. If you cannot sell or lease a property quickly enough, YOU WILL LOSE MONEY on the deal.

You lose roughly 1% of the value of the property every month it's vacant. For a house left empty for 12 months...and let's say it's worth P5 Million or $100,000...you'll lose P600,000 or $12,000! Ouch. And that's on the "low-side". A vacant house costs a lot because you need to pay real estate taxes, insurance (a vacant house insurance costs 5 to 10 times more than regular insurance), utilities (depending on the location, you need to have the heat ON or the electric ON), and of course the monthly amortization or mortgage payments. What if the house gets vandalized or broken into? What if someone takes over the house and just squatted on it? What if the pipes get stolen? I have all these "bad things" happen to one of my vacant houses and it's very painful. I lost money on that deal.

BUT Trace, I don't KNOW HOW to Sell!
I've heard this complaint a thousand times so here's the answer: get over it - it's NO big deal. You can learn HOW to sell if you want to truly succeed in real estate.

Most people think that in order for you to sell you have to be an EXTROVERT. Wrong. You don't need to be an extrovert in order to sell houses quickly. Most people think in order for you to sell you need to be TALKATIVE or very articulate. Won't you need to "talk people into buying" your property? WRONG - you don't need to be talkative or need to "talk people into buying" your property. Watch this interview I did with one of my students, Will "The Breeze" Abriza. I am calling him "The Breeze" because he sells properties very quickly...almost effortlessly. Will does not "talk people into buying" his properties. Will does not do a HARD SELL on anyone.

Here's the VIDEO:

As you can tell from the video...

Will is an INTROVERT...

In fact, he is one of the MOST INTROVERTED person I know and yet he sells houses in FAST.

Will, as you can tell from the video DOES NOT SPEAK VERY WELL. He is NOT articulate or talkative at all. Notice who did most of the talking in the video - ME.

And yet, Will sold one house in 2 weeks...he sold a condo in 6 days during the Apprentice Challenge and he helped sell Jay Castillo's house in 7 days also during the Apprentice Challenge. Will has only been 'investing' in real estate for only 6 months and yet he sells houses a lot faster than real estate agents who has 6 years of experience!

SO Trace, if an Introvert Like Will Can Sell a House FAST...

Here are the steps to selling a house FAST even if you're an introvert, shy person who does not want to talk people into buying your house...

1. Provide a good deal for your buyer.
It all starts with the deal. Wallace Wattles said in his book "The Science of Getting Rich" you can become rich provided the product or service you provide will give a lot more in "IN-USE VALUE" than the cash value you asked for it. Applied in real estate, DON'T BE GREEDY - sell your house at some sort of discount or provide good financing for it (like rent to own) or make it furnished when other houses being sold are NOT furnished. Make it a good deal for a buyer. Make it distinctly better than the other houses being sold in the area. Provide an "after sales" service like finding a tenant for a landlord buying your house as an example. Provide a good deal for your buyer and 80% of your selling problems will GO AWAY.

2. Utilize YOUR Centers of Influence To Spread the Word
Talk to everyone you know - your friends, family and colleagues. Tell them you'll pay them if they refer you a buyer. Better yet identify influential people or people with BIG network of people who might be interested in properties. Examples of influential people are real estate agents (obviously, they're in the business), lawyers (examples are lawyers who specialize in foreclosures, evictions or ejections of tenants, etc.), bankers and mortgage brokers, architects and contractors, etc.

3. Utilize eXtreme Marketing to Maximize The Probability Your Property Will Sell
eXtreme Marketing is putting out a compelling marketing message to your target market or target buyer, exposed multiple times using multiple media. Whew - that's a mouthful so let me give you some examples. Do not just put an ad in the newspaper when selling a house. Put out an ad in SEVERAL newspapers not just one. Put out an ad online. One of my students have identified almost 100 sites you can post your property for sale. Put out bandit signs, or banners to market your property. Put out flyers. Put out a blog post about your property for sale and post it in your Facebook account. You'll never know where YOUR BUYER is looking or when... so you have to expose your marketing message multiple times (daily) using multiple media (signs, flyers, newspaper ads, online ads, blog, Facebook, etc).

Will "The Breeze" Abriza will talk more about eXtreme Marketing in a webinar this Wednesday, August 18, 8-9 PM Manila/Singapore time. Here's the link to register: https://www2.gotomeeting.com/register/618946739

dedicated to your success,
Trace
P.S. Will Abriza through his eXtreme Marketing efforts have now accumulated 104 buyers in his database. Some of these buyers are investors - meaning they want to buy multiple properties. Do you want to partner with Will and have access to his 104 buyers? Then click H.ERE and get Will as your partner and mentor.

The 3 Deadly Mistakes that Real Estate Investors Make and How to Avoid Them

2010-08-08T15:19:00.007-04:00

Have you “tried” investing in real estate but you weren’t able to acquire any property at all? Maybe you’ve read the book “Rich Dad, Poor Dad” by Robert Kiyosaki and you were motivated and inspired. But after several weeks, and then several months of “trying” real estate investing you don’t have any results to show for it? If you’re in this situation, you have probably committed one (or more) of the three deadly mistakes that most beginning real estate investors make.

The three deadly mistakes most beginning real estate investors make are the following:

1. Not having access to “PRIVATE MONEY” to buy real estate
2. Inability to FIND good real estate deals
3. and Not being able to SELL or LEASE the property quickly

When you don’t have “private money” to acquire investment real estate, it’s going to be hard to buy them at a discount. Private money is money you can borrow or partner with from private lenders or private investors. These are not banks or institutions. These are ordinary people who happen to have a lot of cash saved or invested somewhere. If you can find them, and then convince them to invest in investment real estate, then you will have the CONFIDENCE to make “spot-cash” offers. Sellers love buyers who have “spot cash” or can pay for a property with CASH on the spot. There is no waiting time to get a bank loan to get approved and it’s a sure deal. That’s why sellers will usually sell a property to a “spot cash” buyer at a discount. If you can buy at a discount, then you can make money in real estate. The following equations capture what I am talking about...

Private money = SPOT CASH BUYER

SPOT CASH BUYER = Buy real estate at a discount

Buy real estate at a discount = PROFIT!

No private money equals NO PROFIT. How do you get private money? You need to do two things:

1. You need to find investors by beginning with your current network of people and ask them for referrals; and
2. You need to convince prospective investors to invest

I interviewed one of my students Ebb Ryan Magtuba who raised money for a real estate deal in just 21 days and captured it in a video.

http://buyfirstdeal.ning.com/video/how-to-raise-15-million-bucks

{you need to opt-in but this site is totally FREE}

The second deadly real estate mistake is inability to FIND good real estate deals. You need to get a stream of good deals coming your way. A good real estate deal is a deal you can buy at a discount or with good terms. Having private money so you can be a spot cash buyer or be able to offer to buy a property spot cash is good but not enough. You have to be able to find good deals so you can make “spot cash offers” on them.

How do you find good deals? Here's a good source: FORECLOSURES. When a bank foreclosed on a property, there’s a good chance the bank is a motivated seller. A motivated seller will likely sell a property at a discount or it becomes a good deal for the buyer. And a good real estate deal will likely result in PROFIT! Again, in terms of simple equations...

FORECLOSURE = Motivated seller

Motivated seller = Good real estate deal

Good real estate deal = PROFIT!

One of my students, Jay Castillo has made foreclosures his niche. He worked hard in getting lists of foreclosed properties in the Philippines from the various banks. He established relationships with a lot of banks who gladly send him their “non-performing asset” lists and schedule of foreclosure auctions. I interviewed Jay as well in a video and together, we even made a knowledge map or mind map on how to profit from foreclosures. Tomorrow, Monday, August 9, I will release the video in http://buyfirstdeal.com

BUT, having “private money” and access to good deals won’t do you any good if you make the third deadly mistake. The third deadly mistake is NOT being able to SELL or LEASE a property quickly. There are only two ways to REALIZE your profit from real estate. You either sell it to make a CASH profit or you lease it and generate positive monthly CASHFLOW. A good real estate deal acquired with private money can quickly become a bad deal if you cannot sell it or lease it quickly enough. Imagine buying a house and then it remains unsold or unoccupied for 3, 6 or 9 months. I’ve experienced this myself personally not just once but several times and every single time it was painful. I don’t wish this for my worst enemy and I don’t have any enemy! If NO private money equals NO PROFIT...and NO GOOD DEALS equals NO PROFIT...not being able to sell or lease properties can equal not just ZERO PROFIT but you can suffer LOSSES as well!

This inability to sell or lease properties is the DEADLIEST mistake of all and you have to avoid this at all costs. This is so serious I made it a point to teach selling or leasing properties quickly first even before I teach students how to buy them. What's the secret to selling a property quickly?

Make the property a good deal for a buyer - either sell it at some sort of discount or with good financing (like rent to own). Then combine it with what I call eXtreme Marketing. I will not go into details here but eXtreme Marketing can enable you to reach out to many, many buyers which will allow you to sell the property quickly. You see in selling or leasing properties, primarily it’s a NUMBERS’ GAME. The more prospective buyers you can get to visit the property, the higher the chances it will get sold. Of course, it was not just the numbers. You need to learn how to sell and get your buyers closed as well. By knowing these "secrets" one of my students, Will Abriza in the Philippines was able to sell a condo in Cubao in just 6 days. He and his team made P69,000 profit on it. I interviewed him and once again, I captured it in a video and made a knowledge map on it. I will release the video on http://buyfirstdeal.com on Wednesday, August 11.

dedicated to your success,
Trace

The Curse of Knowledge

2010-07-31T10:27:00.005-04:00

I have gotten emails in the past from people who complain that they get overwhelmed with real estate investing. There are so many strategies and tactics and given their full time jobs and the time they need to spend with their family, there's no way they can do this part time and succeed.

I tried explaining that really the fundamental principles are really simple. Despite giving examples after examples of real deals done by myself and my students from all over the world, some people still don't get it. Part of it is lack of belief that success is possible for them. The other part of it, I realized is my fault.

I am suffering from a "curse" called the Curse of Knowledge. Since I know how to invest in real estate, I take a lot of the details for granted. So when I teach the principles, strategies and tactics, I sometimes assume, wrongly, that my audience should know what I am talking about. A good example was when I gave the first ever "Think Rich Quick" seminar. People were overwhelmed by what I taught. It's like drinking water from Niagara Falls (related to that, I am going to make TRQ 2.0 a 2-day event just so that people don't get overwhelmed). Some people even advised me to make it a 3-day event and I should charge a lot more for the know-how I am sharing.

Anyway, to overcome the Curse of Knowledge, I am starting a new real estate business from scratch. It's an entirely new business model that I am totally NOT used to. My current real estate business is buying ugly, cheap houses then selling them (still cheap) to renovators and landlords. These buyers are "repeat buyers" and so once you identify a good cash buyer, that buyer tends to buy from you, the wholesaler, over and over again. That's why wholesaling ugly, cheap houses is easy BUT you need to do a lot of deals in order to make a lot of money from it.

I've decided to start a new real estate business - which is at the EXTREME OPPOSITE of the spectrum. From buying cheap houses (under $100,000) I am going to buy million dollar homes. From selling houses to other investors like landlords and renovators, I am going to sell them to end-buyers or buyers who will live in the homes. Honestly, I don't have any experience how to do this. I don't have a team behind me. I don't even know the market. But I felt like by starting a new real estate business from scratch and sharing what I am learning as I go along, that a lot of beginning investors will benefit greatly from what I am doing. I am even committing to a lofty goal, which honestly, I don't know HOW I am going to achieve it. I am aiming to make $100,000 in the next 100 days (actually, only 96 days are left!). I've developed some strategies based on what I know, but these strategies will surely need to be modified as I go along. The video below explains the initial strategies that I am going to test:

One of the things you need to learn from this experience is the fact that YOU NEED TO ACT immediately even if your strategies are not perfect. You need to act even if you don't know everything there is to know first. You need to act even though the situation is NOT perfect yet or even if you're not ready yet. I don't have any buyers yet in my database but I proceeded to seek out luxury homes for sale and started talking to some real estate agents. Below is a 10-minute snapshot of my conversation with an agent. The video below or next to that is an explanation of why I asked her the questions I asked.

In BuyFirstDeal.com, I will post the next series of videos. I hope you will follow me in my journey and learn as I learn. Better yet, I am willing to buy million dollar homes all over the United States. If you have a good lead, let me know and maybe we can partner on it. One of the things I am seeking are mentors who can help us. Fortunately, I have a network of real estate gurus and we can get them as mentors. I also have access to funding so money is NOT going to be a problem. SO, let me know...and together, let us NOT only learn...but also EARN as well.

dedicated to your success,
Trace

Three Money "Cheats"

2010-07-17T22:03:00.014-04:00

Are you a "gamer"? If you're young or young at heart and you like to play computer games you will know what I mean when I say the words "game cheat". A "game cheat" or "cheat" is a shortcut to winning a game.

Robert Kiyosaki says that becoming wealthy is also a game. And, any game, including the game of money has "cheats". Do you like to know these cheats? I won't have the space in this blog to tell you all of them so let me mention three of them.

In my previous blog post, I talked about how you can overcome big debt. I revealed 6 "cheats" to overcoming big debt (and living below your means is ONLY one of those cheats). In my blog post this week, I want to reveal the "cheats" to the following:

1. How do you have a six or even a seven figure bank account?

2. How do you sell houses quickly? and

3. Is there an "ultimate cheat" for succeeding in real estate investing?

How to Have a Six or Seven Figure Bank Account
There are two ways to doing this - and you need to do BOTH. There's a SLOW WAY and there's a FAST WAY. The SLOW WAY is saving 10-20% of your after tax income or more even before you allocate your money for living expenses. Robert Kiyosaki calls this "Paying yourself first". Let me explain this with a simple equation (and if you're not an engineer or mathematically inclined don't worry because this is first grade math). The reason you don't have a six-figure or seven-figure bank account is you are living with this equation:

Savings = Income - Expenses

This means you spend your income and allocate it for living expenses and you save what's left. The problem is expenses expand to consume all the income and the result is: there is nothing left for you to save and invest. Instead, you should start managing your money with this equation:

Expenses = Income - Savings

You save 10-20% of your income first automatically, before you even spend it. Treat your automatic savings as a BILL you have to pay. Only touch the money for investments not even emergencies. Allocate a separate fund for emergencies. Invest the money in an index fund or stock market fund but spread it among many stocks and do so on a regular basis. Over 10, 20 or 30 years of saving and investing automatically should result in a six or seven figure bank account (or brokerage account). It's slow and steady and you don't even need to think about it. You need this SLOW WAY even when you can do the FAST WAY. Why? Because you need to get into the habit of saving and investing automatically. But the SLOW WAY is not enough because no one really made real money just by saving.

The FAST WAY is learning how to generate BIG CHUNKS of cash in a relatively short span of time. In my book "Think Rich Quick" I teach my students how to make money in real estate in a few weeks, even in a few days. Two of my students who are now "Real Life Cashflow 101 Coaches" whom I interviewed in a webinar were able to generate P450,000 CASH in just a few weeks from just one real estate deal. So the next question now is...

How do You Sell a House Quickly?
Here's the "cheat" for doing this: you need to learn how to market and sell houses ONLINE or using the internet. Why online? 80% of real estate transactions start online. The word "real estate" is being searched 1.8 BILLION TIMES year. If you're not online, you're taking an 80% pay cut. One of the systems that you should look into is SIMS 2.0. It's not cheap but it provides you with the training and technology in order to ensure you get TONS of real estate leads (buyers, sellers, renters and lenders). It can even do "power matching" - of the properties you're getting from sellers and what your buyers...and even what the buyers of other SIMS members are looking for. Imagine the power of having a community of investors helping each other market each other's properties. SIMS 2.0 even provides you the websites - blogs and squeeze pages that you can use to market your real estate business online (and it shows you HOW to market them online through social media and video marketing). It's a complete system in a box...like a franchise.

And talking about franchise....

Here's the Ultimate Cheat to Succeeding in Real Estate: YOU NEED A REAL ESTATE MENTOR OR COACH. Every successful real estate investor I know has a real estate coach or mentor. No exceptions. Even Donald Trump has his father Fred Trump as one of his mentors. My most successful students have several mentors - not just me. For example, one of my most successful students, Eden Dayrit owes her success not just from my advice and coaching but also from Larry Gamboa, founder of the Think Rich Pinoy Franchise. Larry has closed the franchise for about 12 months in order to improve its systems and training. Recently, he is reopening it but only for 10 franchisees. There's a substantial investment required and the franchise is NOT for everyone. Also, even if you have the money (P1 Million required)...there is a qualification process and not everyone will be accepted. Again only 10 franchisees will be accepted. If you're interested in becoming a franchisee, send an email to mentoringbytrace@gmail.com.

dedicated to your success,
Trace
P.S. Wanna learn how to play the game Cashflow 101 in real life ? Click HERE and learn how to get out of the rat race NOW.
P.P.S. SIMS 2.0 is going to be closed Sunday, July 18, 11:59 PM eastern time (that's Monday, July 19 11:59 AM Manila time). You can no longer get it after that time. Click HERE to get it while you still have a chance.

How to Deal with The BIG Debt Trap

2010-07-11T14:44:00.002-04:00

One of the more common answers I got from my blog post as to what stops people from getting out of the rat race and into the fast track is BIG DEBT.

I call it the BIG Debt Trap. Maybe you got into BIG debt by buying what Robert Kiyosaki calls "Doodads" by using credit cards and the interest you're paying becomes overwhelming. It becomes a trap you seem to never get out of because the interest payments are so big that you can't even afford that (never mind the principal). Or maybe you got into BIG debt because you've made an investment that turned out to be a mistake and worse, you had to borrow the money to make the investment. I've made both mistakes by the way - and some of these mistakes are so big I am still paying for them today.

How does one get out of the BIG Debt Trap?

It's not easy but it's doable. The following are some of the things you can do if you are trapped with BIG debt.

1. Stop borrowing. Cut up all your credit cards except one (and you can use this ONLY for emergencies like life and death situations...a 50% sale at your favorite department store is NOT an emergency).

2. Simplify your life. Understand the difference between your needs and your wants. You need to drink. You want to drink a 50 year old wine that costs $150 a bottle but you don't need it. Drink water instead...it's healthier too.

3. Sell all the doodads you don't need. I bet 80% of these stuff you bought are things you probably don't need or use anyway. Raise some cash and use the cash to pay off those debts.

4. Renegotiate your debt and find out how you can pay them at a discount. Use the BONUS you get from your job to pay off your credit card balance at a discount. You'll never know - they might accept the lower amount as payment in full. Let's say you owe P80,000 on a credit card and let's say you got a P40,000 BONUS. You can tell the credit card company the following: "I know my balance is P80,000 and I am having a hard time paying it. Fortunately, I got P40,000 cash now and if you consider P40K as payment in full of my P80K credit card - half of which really is interest payment...I can give you the cash now. If you don't agree to this, I can pay off my other credit cards instead."

The truth is, banks are in the business of making money on your money by lending it. Because of this, banks and credit card companies are sometimes willing to get their money now, even at a discount so they can lend more money.

5. Set up an automatic debt repayment program. Automatically deduct the payment for each credit card/ lender out of your checking account. I suggest you focus on paying off the debt that consumes the highest monthly payment with respect to the outstanding balance FIRST while paying the minimum payments on the other credit cards. By doing this, you will pay off your credit cards very fast. You will pay them off a lot quicker than you think. I can show more details in my upcoming e-Book "Cashflow 101 Cheatsheet". If you're interested to download that e-Book for free, visit my website - http://buyfirstdeal.com (it will be there soon).

6. EXPAND your means. One advantage of having BIG debt is it forces you to generate new streams of income. Think of Donald Trump. Back in the early 90s when he got into financial trouble, he was at one point NEGATIVE $900 million in the hole. He was poorer than a beggar because he owes $900 Million more personally than all the assets he own.

He did steps 1 to 5 above and more importantly, he EXPANDED his means. He did more deals, even BIGGER real estate deals precisely because he had no choice but to succeed. You might be thinking, "But Trace I am NOT be Donald Trump!"... so let me give you a more mundane example.

Let me tell you the story of one of my students: Alma Santos. She was working for a big multinational company and it paid her very well. She was making over $70,000 a year but she was not happy working there. She knew she was capable of much, much more in terms of the contribution she could be making to the world and the amount of money she could be making. Also, like a lot of people in California, her house is no longer worth what she owes on it. She was suffering from BIG debt as well.

I introduced her to real estate investing and subsequently, to a direct sales opportunity that I just started with a multi-millionaire whom I got as my mentor. She found herself gravitating towards this direct sales opportunity. She loves it because she is helping people improve their health and their incomes as well. She became so successful at this she left her high paying job and she is now on her way to becoming even more successful than I am at this direct sales opportunity. She is now opening a branch in Bermuda and she opened a branch in the Philippines too. Oh and by the way, she left her job just 3 months after I introduced her to this direct sales opportunity.

Alma and my direct sales multi-millionaire mentor (he makes six figures IN DOLLAR TERMS every single month) are doing an event this coming Saturday in California. In this event, my mentor is going to show people how they can achieve health and financial freedom, just like Alma in a relatively short span of time. The bad news is this event is not free. The ticket costs $159. The good news is I BOUGHT 7 tickets to giveaway to 7 of you who are reading this blog. To get the ticket, you need to call Alma at 1-714-488-1081 or you can email her at amend0205@gmail.com. This is first, first served so you better call her NOW before all the 7 tickets are gone.

dedicated to your success,
Trace
P.S. You missed the Cashflow 101 LIVE boardgame last Saturday? Don't worry. You have 2 more chances of winning the Cashflow 101 Boardgame. Watch the video below:

How to Get out of The Rat Race and Into the Fast Track (Part 2)

2010-07-07T20:29:00.002-04:00

In my last video, my "mystery guest" addressed FEAR and lack of knowledge - as two of the common barriers to getting out of the rat race and into the fast track. In a way, I envy this "mystery guest" whom I call a Real Life Cashflow 101 Expert because he had the courage to buy a multi-door apartment as his very first deal (buying a 6-door apartment as his very first deal!).

I was not as courageous and I had to limit myself in buying houses as rentals. Even though there's nothing inherently wrong with this, I realized very quickly that the cashflow is a lot smaller with single family houses and there's more vacancy risk as well. This means that when the property becomes vacant, then it's negative cashflow. However, for multi-door apartment even when one tenant does not pay, chances are the property is still positive cashflow.

In my second video, my "mystery guest" answered the problem of debt or not having enough income. He revealed a secret that 99% of people don't know about. It's a secret I taught him and his wife. This secret enabled them to acquire millions of pesos worth of real estate and allowed them to profit handsomely. One of their latest deals made them P450,000 in cold hard cash - and that's just one deal! Do you want to know this secret that will allow you to become a real estate investor even if you're drowning in debt? Watch the second video below.

Lastly, if you want to WIN the Cashflow 101 boardgame I am giving away, YOU NEED to meet my "mystery guest" in person and actually play the boardgame with him and other like-minded people. On the right side of this blog is a space where you can put your email address. The Cashflow 101 boardgame will be this Saturday, July 10, 10am -12 pm. Max's Jupiter, Jupiter St., Makati. P250/person to cover the food and venue. Unfortunately, due to the venue constraint only 78 people can attend (and this blog is being exposed to over 5,000 people, so please register NOW - it's "First Come First Served").

NOTE: my "mystery guest" is doing this more as a favor. He is NOT making any money off of your 'registration fee' as all of it will go to pay the food and venue. He is doing this so he can play the game with you and he can teach you how he plays the game in real life. Also, he will explain your next step in winning the Cashflow 101 boardgame when you attend the Cashflow 101 LIVE game!

How to Get out of The Rat Race and Into the Fast Track (Part 1)

2010-07-06T22:29:00.004-04:00

Wanna Win a Cashflow 101 Boardgame?

2010-07-03T08:33:00.001-04:00

Why Renting Houses is NOT Necessarily a Smart Idea

2010-06-26T15:57:00.006-04:00

I love Robert Kiyosaki's book "Rich Dad, Poor Dad". Without his book I would never have started in real estate investing. Kiyosaki taught me the importance of passive income. Passive income is income that comes in with little to no work. Just like the passive income I receive from my 133-unit apartment complex. The property is managed professionally and I don't do anything. Literally the only thing I do is talk with the management once a quarter and on a monthly basis, I open my mailbox and cash the check. Do you like to do the same?

However, one thing I've realized quite quickly is that getting to passive income is not easy specially from single family houses. There are bad tenants out there and if you're a beginner, and you have no money in the bank and you're living paycheck to paycheck, the last thing you want is a tenant.

Here are 3 reasons why renting houses is not necessarily a good idea:

1. If you don't know how to pre-screen tenants you'll get yourself deeper in financial trouble because inevitably, you will get "Tenants from Hell"...the kind of tenants you don't want even for your worst enemy. These are tenants who will NOT pay their rent, they will destroy your property and they will even sue you because they know how to manipulate the legal system to their advantage. Some of these tenants know eviction laws better than your attorney! And talking about legal issues...

2. Do you know that...landlords are the third most sued people on the planet after lawyers (who sue each other) and doctors (who get sued for malpractice)? If you have a rental property and you have not been sued yet, you don't have enough properties yet. Of course this does not stop when you own a multi-door or multi-unit apartment but in a multi-door apartment, so what if you get sued by one tenant out of say, 133 units? For one you can hire a professional property manager and a good lawyer given you have a lot more cashfow from a multi-door apartment. You can't necessarily do this with single family houses or condos.

3. When a house or condo becomes vacant, it becomes 100% vacant - and YOU are liable for paying all the expenses, specially the mortgage payment out of your pocket. This includes all the expenses of maintaining a vacant house - specially a vacant house insurance policy (which costs an arm and a leg). In contrast, if one unit out of a 10-unit apartment becomes vacant, you couldn't care less because you will still make money.

4. (I said 3 reasons but I get carried away so...) Single family houses and condos are not necessarily passive investments because they generally produce so little cashflow that you cannot afford to pay professional property management. If YOU need to manage the tenants, coordinate the repairs and maintenance, collect the rent, file the eviction or talk to a lawyer - which are things you do as your own property manager, you got yourself another job. Why "invest" so you can get another job when they're free?

The better alternative to buying and renting single family houses or condos is buying and then renting apartment buildings. I like the big ones - 100 units or more. You get maximum economies of scale. For the smaller units (20-50 units), you pay 10% of gross collected rents as property management fee. For a 100+ unit apartment complex, you pay as low as 3-5% of gross collected rents. The paradox in this is: with a lot more units, you actually WORK LESS and get PAID MORE. I don't know about you...but I love getting paid a lot for working less...or even NOT working at all!

So what are you going to do if you can't afford to buy a multi-door or multi-unit apartment just yet? I strongly suggest you consider my two-pronged strategy: I buy and sell houses for immediate cash infusion and I buy and keep apartment buildings for cashflow and long term appreciation. Robert Kiyosaki calls this POWER INVESTING. That is - you have a business that generates tremendous amounts of cash which you then invest to buy big apartment buildings and commercial properties that produce lots of cashflow (the real passive income type). In this case, what I advocate as a business is the business of buying and selling houses. You flip houses to generate nice chunks of cash and then you invest that as downpayment to buy keepers - or nice apartments in good areas with good financing that tend to appreciate over time. The beauty in doing this is that while you're waiting for appreciation, you get paid a good dividend that no stocks in the stock market will ever match.

Are you getting this?

So now, how do you buy-and-sell houses? Some of you might be thinking: don't I need capital to do that as well? You don't - if you do it properly. I have countless of students in 2 countries now - the Philippines and the United States - who demonstrate time and time again that it's possible to buy houses with no money down and then sell them for good chunks of cash. I did not learn this by accident. I am fortunate to have a mentor like Ron Legrand who taught me this business of buying houses that does not require cash or credit. He is undoubtedly the best in the business as he has bought and sold over 1,600 houses in the past 20 years and he has helped thousands of people become real estate millionaires. If there is one person I want to be when I grow up - it's NOT Kiyosaki...it's Ron Legrand.

I have good news for you. Ron Legrand taped a brand-new, cutting-edge Wholesaling Course in February, and just got the edited CDs ready to release but instead of selling his brand-new course he’s giving away the whole course, CDs and manual, for a measly dollar. That’s right; a $599 course for one dollar. I know this is ridiculous...so you better take advantage of this right now before he changes his mind. Click HERE to get this wholesaling course from the "gurus' guru".

You can thank me later...

dedicated to your success,
Trace
P.S. Unfortunately, I did not get 100 comments by June 23 on my last blog post, so I will NOT give away my eBook "How I've Raised $1 Million on One Deal" (rules are rules)...and sorry NO ONE will get a ticket to my upcoming TRQ 2.0 Seminar either. Lesson here folks: when you get a once-in-a-lifetime opportunity in front of you...you've got to move FAST and work hard at it.

Part 2: How I Raised $1 Million on One Deal

2010-06-16T06:54:00.005-04:00

{Below is Part 2 of my eBook "How I Raised $1 Million on One Deal". I will give away Parts 3 and Part 1 (those of you in my email distribution have already gotten Part 1) of the eBook if I get at least 100 comments on this blog. Each of the comment has to come from a different person. The best blog comment will get a $97 gift from me.

If you want to get the entire eBook I need to see 100 comments at the bottom of this blog post.}
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Chapter 18
How I met My Favorite Lender

I am a member of the Cincinnati Real Estate Investor’s Association. It’s nothing fancy really – it’s a group of real estate investors in Cincinnati who are dedicated to helpingeach one grow in knowledge and expertise in real estate investing. The Cincinnati REIA meets every first and third Thursday of the month. There are three parts to every meeting– the first part is a one-hour talk about real estate that is suited for beginners. The lastpart is a 90-minute talk about more advanced topics. The middle part is my favorites – it’s called Buy-Sell-Trade.

During Buy-Sell-Trade, you can go up the stage and you can talk about a house or property that you are selling. You can also share with the group if you are
looking for a house or property to buy. I’ve found 2 of my buyers there at REIA during Buy-Sell-Trade. Most importantly, I’ve met my favorite lender.

Two years ago, I was working on 11 short sale deals (for more information about shortsales, buy and read my book “Think Rich – Quick!”). A partner and me put these under contract from one seller. I decided to advertise these 11 houses at REIA during Buy-Sell-Trade.

After I finished speaking, a Chinese-looking guy approached me (to preserve his anonymity, let’s call him Dr. Chi). He said, “Wow. I am impressed you have 11 deals. How long have you been doing this?” I replied “Only three years.” He continued, “I am interested in investing in real estate. I have invested before in Elissa Miller’s deal and it’s great. She was giving me 15% return.” “That’s great. I can do the same thing for you. Let’s have lunch sometime.” I replied. “Sure!” he exclaimed.

I found out he’s a doctor and he is making a lot of money but he wants to have his money work for him. To make the long story short, after lunch he gave me a verbal commitment that if the deal makes sense, he will definitely invest. I was excited. I told him the 11 deals that I have are wholesale deals and I don’t need his money but next time I have a rehab deal, I will definitely inform him. Even though the 11 wholesale deals did not go anywhere –the banks we were working with did not approve the shortsales, but because I spoke about these 11 deals during Buy- Sell-Trade, I met my favorite lender – Dr. Chi.

He said NO to the first property I brought to him. In fact, he said NO to the second property also. On the third deal though, he said YES – investing $105,000 on a house worth $140,000. I eventually sold the house for $135,000 in 4 months. Dr. Chi made $5,250 profit. I guess he was happy with our first deal because he continued investing in my subsequent deals. As of the last count, he lent me a total of $500,000 in a span of 1 year.

Imagine what would have happened had I not spoken about my 11 deals at the Cincinnati REIA! I would not have made the money that I made had I been too shy to speak.

What about you? What opportunities are you missing? How many Dr. Chi’s are you passing by everyday without you even knowing it?

Chapter 19
Lessons to be learned

There are several powerful lessons that one can learn from the story – How I met my
favorite lender in the previous chapter. Here are the lessons:

1. Utilize targeted networking (or targeted marketing) – go to the place where your prospective investors hang out. Cincinnati REIA is a great place for me to find my private lender because these people are already interested in real estate.

Do the same. Join real estate conferences and conventions.

2. When you attend real estate association meetings, mingle with people; get to know as many of the attendees as possible. I have found mentors, partners and investors in these real estate conventions and seminars.

3. Establish a personal relationship with people you meet at real estate association meetings – long before you need to raise the money –as these could be potential investors or they can refer you to one. Even if the one you’re talking with may not be capable of investing in your deals, maybe someone in his or her contact list can be your investor. Or, they might not be capable to invest now, but if and when they become successful, they might become capable of investing in your deals in the future. Treat everyone as if they’re worth a million dollars and sooner or later, you’ll have a million dollars in investor capital to utilize for your deals.

4. Even if they don’t invest in your first deal, continue asking. Dr. Chi turned me down twice before investing. Be persistent but not annoying. Try to find out their comfort level and find them a deal they’re comfortable with. If you’re persistent enough in deepening the relationship and you can show them how well your deals turn out, sooner or later they will invest with you.

5. Don’t be shy – your mouth is your number one asset in raising capital. How do you talk when networking your way to getting private capital? Be genuinely interested in knowing people – as people can spot a phony a mile away. Ask open-ended questions – like “How do you find real estate investing in this market?” versus YES/NO questions like “Are you a landlord?” The first type of question leads to a discussion whereas a YES/NO question is sometimes perceived as you’re interrogating the other person.

6. Always establish your credibility first. Again, people invest with people they trust. The next chapter will discuss in detail how you can do this even if you have not done your first deal.

Chapter 20
Your Credibility Kit

One of the things that I have found over the years is that people don’t invest in a deal or they don’t buy a product or service. They invest or buy from a person they trust first before they invest in a deal or in a product or service.

Without trust, there is no business. Period.

No matter how good your deal is but if the person does not trust you, he will not invest in your deal. No matter how good you but if you don’t establish your credibility first, you will have ZERO investors.

No trust equals No investors.
Period.

It’s a brutal equation, but it’s reality. Life is not fair. Live with it! Why would you part your money in someone you don’t trust? So expect the same thing with your potential investor.

Your goal number one is to establish credibility first. Once you’ve done that, the next
step is to present the benefits of the deal and convince your investor to invest. In a
nutshell, these are your steps in raising money. Let’s discuss the first part in detail.

How do you establish credibility specially if you have not done your first deal yet?
Develop your credibility kit. What is a credibility kit?

A credibility kit is a simple presentation as to who you are, what your vision is, your real estate strategy and some good things that people say about you (testimonials). The latter one is very important.

If you have not done your first deal, how do you get testimonials?

Talk to people you think trust you. Ask them to write 1-2 sentences stating that you are an honest, hardworking person who does what he promises. Ask people with authority – like priests or pastors in your church or religious congregation; ask your former teachers;ask work colleagues, even former bosses who like how you work. Be personal in your presentation. Put a picture of yourself and your family (if you’re married).

In today’s environment, ask some people to give you video testimonials that you can then post in Youtube. Write some articles in ezines or have a blog or two about who you are and your interests in real estate. Good investors will do their due diligence and they will likely google your name. I do that when choosing potential business partners (google “Trace Trajano” – with quotation marks – and you will see over one thousand hits! If you’re an investor and I and another self-proclaimed real estate investor who has no google “hits” approached you – guess with whom you will likely invest with? Me!)

When you write articles about real estate in cyberspace you are increasing your credibility. You can be perceived as an expert even if you are a brand new investor. Go to real estate blogs and ask questions, or put in some comments. By doing this, you are increasing the number of google hits on your name.

Assuming you establish credibility with your potential investor, how do you make your
presentation to convince your investor to invest in your deal? The first step is to think like an investor.

------------------------------
{To know how to present to convince investors to invest in your deal, put in your comments below. Once we reach 100 comments, I will give the final part (Part 3) of my eBook. Also, the one who put in the best comment will win a $97 prize!}

How to Make a 1,000,000 % ROI in Real Estate

2010-06-11T21:31:00.002-04:00

Yes, you've read that right. That's not a typo. You can make a 1,000,000% return on investment in real estate. Here's how one of my students did it. Too long to explain...just watch the video will ya?

Five Things Beginning Investors Need to Know

2010-06-07T12:59:00.003-04:00

I am being featured in Money Summit & Wealth Expo for the July-August issue of MoneySense magazine. The title of the article is "Get Rich Now!" -- basically mini-profiles and Q&A with experts in businesses, real estate and investing. Below are the questions I was asked and my answers. I decided to share them with you ahead of that article so you, my subscribers can learn from my answers NOW: (keep in mind this interview was done with Philippine-based students in mind. However, the principles apply wherever you are)

1. When and how did you get started in real estate investing? And what attracted you to this field?
* I started investing in real estate back in 2003 after I read the book of
"Rich Dad, Poor Dad" by Robert Kiyosaki

2. What would you consider your first big win or deal?
* My first big win is my 3rd rent to own deal. I made over $30,000 on a house I bought for 93% of market value. I did this by structuring the deal creatively and leasing the property quickly.

3. Who do you consider your mentors and what’s the most important thing you learned from them?
* from Robert Kiyosaki I learned the concept of passive income; * from Ron Legrand I learned how to generate quick cash through real estate investing and lastly from Bob Proctor, I learned the power of the Law of Attraction and the importance of having the right mindset

4. Which books, websites, and other resources do you recommend for beginning investors?
* My book "Think Rich Quick" that they can get from my blog at http://TraceTrajano.com
* Website: http://buyfirstdeal.com - this educates beginning investors how to acquire and profit from their first real estate deal. This is totally free

* http://foreclosurephilippines.com - is another website I recommend - my student, Jay Castillo owns the site. You will get for free, foreclosed listings in the Philippines
* lastly, you can check out Bob Proctor's virtual mentoring program to help you improve your mindset. Here's the website: http://store.sixminutestosuccess.com/?aid=583972

5. How much can one expect to earn in real estate?
* millions

6. What are three different ways one can earn money in real estate?
* Wholesaling - which is tying up a piece of property, or controlling it - and then assigning it or selling it to another buyer before you close it.

* Retailing - is when you buy a house, fix it and then re-sell it for top retail price
* Rent to own - is when you buy a property then sell it on a rent to own basis. There are three streams of income when you sell the house rent to own: you collect a downpayment, monthly cashflow (difference of rent and the monthly amortization) and a big back-end or equity.

7. Per your experience, which of these strategies or investment models gives the highest chances of succeeding? Gives the best returns?
* wholesaling - because you risk little to no money and you get profits of P100,000 to as high as P500,000 per deal...and you can do this with zero down, even zero earnest money deposit

8. What are the risks involved in investing in real estate investing? And what can one do to mitigate those risks?
* I tell my students there are 3 ways you can lose money in real estate...

1) you write a big check to buy houses - don't write big check, don't lose big check. There are three "No money down" strategies I described in my book "Think Rich Quick". If you have put zero down to control or buy a house - how much money are you going to lose?
2) Getting a loan from a bank to buy a house. By doing this, you put everything you own at risks.Instead of doing this, learn my no money down techniques and learn how to raise money from private lenders.
3) Making a promise you cannot keep. Only promise your investors what you can deliver. In fact, be more conservative than what you think you can deliver. If a deal can deliver 15%, promise 10-12%. always under promise so you can over-deliver. If you do this, you will never run out of private money to fund your real estate acquisition.

9. What would you consider your worst investment mistake? What lesson have you learned from that experience?
* my greatest mistake is buying a 36-unit apartment building in a war zone or in a very bad area. We thought we can turn the building around. We improved the building but it took longer to lease the building because of its bad reputation. It was hard to do that because the location is bad - people don't want to live there. Here's what I've learned: a cheap property in a "cheap" location can be bought cheap but sometimes, it's better to pay a reasonable price for a good property in a good location.

10. For the beginning investor, what advice can you give to get started?
* learn before you leap...having money to invest does not make you an investor. You need to DO the following:

1. Learn your market - find out what is selling, what property type and price range are selling or getting leased quickly, which location is HOT and which are NOT; is the market going up or going down; what is the average peso per square meter sales price in your market?
2. Learn "No money down" strategies - if you can learn how to make money with no money, then you minimize risks
3. Get a mentor or coach. Don't reinvent the wheel - learn from those who have done successfully what you want to do and have done the mistakes you don't need to make. Check out http://buyfirstdeal.com to meet people who can be your mentors.
4. Join a mastermind group or form one. It's easy to get discouraged or distracted when at first, you are not seeing results from your real estate investing activities. However, sometimes there's a gestation period between action and results. A mastermind group is a support group where you will encourage each other and hold each other
accountable. Again, join http://buyfirstdeal.com to meet like-minded people who can become part of your mastermind group.
5. Take MASSIVE ACTION. The money is NOT from the theory, it's from the IMPLEMENTATION.

How She Sold a 4-door Apartment Before She Bought it

2010-06-04T23:25:00.003-04:00

Watch the video below. To find out more information on how to sell a house
so fast that you actually sell it even before you buy it...attend the free
online seminar where I will interview Thea Santos, one of my most successful
students on how she did what she described in the video below...

Click HERE or on the title of this blog to register for the webinar

How to Buy a House No Money Down in the Philippines and Sell it Quickly

2010-05-31T13:13:00.000-04:00

You Need Money to Buy Foreclosures? Here's an eBook...

2010-05-21T15:36:00.000-04:00

Six Secrets to Raising Private Money to Buy Foreclosures FAST

How to Buy Houses no Money down and Other Answers to Your Questions

2010-05-07T06:23:00.002-04:00

I just did a Question and Answer Question Session and I gave out so much information for free! I answered questions like "How to buy houses with no money down?" and other commonly asked questions.

My Student Made 170,000 Bucks in 2 weeks

2010-05-06T13:36:00.002-04:00

Jay Castillo made 170,000 bucks upfront and 15,200 a month cashflow on one house. He sold the house in just 2 weeks. He did so by doing one simple technique - which I call COIN: or Centers of Influence Networking which I will mention in a Question & Answer webinar I am doing in the next 7 hours.

93 people have registered already and I am limiting it to only 100 people. Click here to register.
Here's my interview with my student, Jay Castillo:

Questions About Transactional Funding

2010-04-29T17:07:00.001-04:00

Success Principles of the Wealthy Numbers 1 and 2

2010-04-26T14:10:00.001-04:00

For the last week of April and the entire months of May and June, I am going to post what I call “Success Principles of the Wealthy”. These are principles that people use to become wealthy. These are based on true stories of real people NOT fancy theories. In fact, I will even give you some action steps that you can do to implement these success principles.

Are you ready?

Here’s Success Principle #1: Set a Goal.
That’s right. Set a goal. Make it very specific and put a deadline on it. Don’t just say “I want to become wealthy someday”, or “Someday I am going to be rich”. Instead you should say “By December 12, 2012, no later than 12 noon eastern time, I will make $12,000 a month income working no more than 12 hours a week.” When you set a goal, don’t worry right now how you’re going to achieve it. Just believe right now that whatever you set your mind to, as long as you believe it, you will achieve it. History is filled with examples, after examples of people who achieved great results but in the beginning, they did not know how they’re going to achieve them. But their belief, their faith in their goals is the reason why they succeed and others fail. As Napoleon Hill said “Whatever the mind can conceive and believe it can achieve.”

Let me share with you a true story of how powerful goal setting is. One of my students, Joy Cangcao (her screen name in a ‘social networking’ site for real estate investors – BuyFirstDeal.com is “Think Big”) wrote the following:

“August 28, 2009: I wrote these exact words on my daily journal --- I WILL BE MENTORED BY TRACE TRAJANO. When I wrote that, I didn't know how it will happen. I signed it and worked on it.... How? I sent Trace an email. I told him I have been following his blogs and websites since I started reading his book entitled "Think Rich -- Quick!". But for someone who has been through a lot of financial setbacks during the past year, I cannot imagine how I can possibly afford to get him as my mentor. For someone as busy as Trace, I was grateful for the prompt reply. He offered one option --- easier payment term (sorry to broadcast that Trace!). I was thankful and told him I will work on it. Though at the back of my mind, I knew I still cannot afford that (hmm, limiting thoughts!). That was how broke I was. And I have to be brutally frank about it. But I will not sleep on that dream! I looked for my daily journal, opened it and read out loud, "One day, I WILL BE MENTORED BY TRACE TRAJANO!"

Twelve (12) days ago, Trace gave his 10-day challenge. The Prize? Free mentoring! Again, I opened my daily journal and read out loud, "Ten days from now, I WILL BE MENTORED BY TRACE TRAJANO". This is my chance. I don't have to raise any money. Just invite and invite and invite to get that 1000 sign ups! Did I invite the most people? During the last update, I did! Did we meet the challenge given by Trace? Uh-no. We did not! That means, I will not get the CDs, the mentoring...... I opened my daily journal and read out loud, "I WILL STILL BE MENTORED BY TRAJANO". Inspired by everything that I learned from the challenge, notwithstanding that we were not able to hit our goal, I wrote a blog. I just needed to let everyone know how much I appreciate the effort of EVERYONE who helped in getting that 1000 members. Because that "everyone" helped me get closer to my dreams. Everyone here is a team! And I believe that we absolutely did a great job! I am still holding on my dream…… will I get that?

After a few minutes of publishing my blog, Trace wrote me this: “Think Big, I like the way you write. It's very sincere and it comes from the heart. I like it so much I am going to hire you as my Article Marketing/ Writer and in exchange I will give you free mentoring. You'll get memberships in the Real Estate TV and my Think Rich Quick Gold Coaching Program.” ---- Now, didn’t I say “things happen just at the right time”? and didn’t I say, repeatedly that “I WILL BE MENTORED BY TRACE TRAJANO!”?”

Powerful isn’t it? So set a goal and believe it. The world, the Universe will conspire to help you but you have to believe you already have that which you desire. So here’s your action step: write down your goals. Make them very specific. Read them out loud everyday. And then believe you’ve already achieved them. You will be amazed by how your faith becomes your reality.

Setting a goal is not enough. You need the next success principle (every successful person I know follow this success principle – no exceptions).

Success Principle #2: Get a mentor or coach to help you achieve your goals. Every successful person I know has a coach or mentor. Warren Buffett the richest investor in the world has Ben Graham as one of his mentors. Donald Trump was mentored by his father, Fred Trump.

Let me tell you a true story. Chris, a beginning real estate investor has spent $40,000 on real estate seminars, books, audio CDs and DVDs. In fact, he has spent the last 4 years working the business with no results. Then one day, he met Eric Bodiwala, a successful real estate investor. He told him “Chris, unless you forget about everything you’ve learned so far and just do what I tell you to do, you will never be successful.” At first Chris resisted being coached or mentored by Eric. Chris told himself “I’ve read all the books and attended all the seminars. I know what I am doing. I don’t need a coach.”

But Chris realized all his pride and “knowledge” has produced ZERO profit so far, so he swallowed his pride and he listened to Eric. In the first month, nothing happened. But in the following 3 months, Chris has done 3 deals with Eric, putting real money in his bank account. SO let’s summarize what happened:

4 years of attending real estate seminars, reading books, listening to audio CDs and watching real estate DVDs plus paying $40,000 for them equals ZERO deals

4 months of coaching and mentoring combined with taking action equals 3 deals

What more proof do you want? Show me a successful person and I will guarantee it, he/she has a mentor or coach. Here’s your action step: get a mentor or coach. Pay the price – it’s worth it.

My 12-month mentoring/partnership program is $5,000 and is now closed but fortunately for you, you can get Eric Bodiwala as a coach for a price nowhere near $5,000. Click HERE - https://hsolutions.infusionsoft.com/go/fc/trace72/lem1?r=trace72 to get Eric as your real estate coach and start putting real profit in your pocket soon.

Dedicated to your success,
Trace
P.S. You’ve got to get Eric’s mentoring right now because there are only 250 spots available. FYI – there are 6,000 people in Eric’s VIP waiting list. Don’t be left out.

P.P.S. If you get Eric’s WebCAMP (that’s having Eric as your virtual real estate mentor), I am going to give you a 90-day membership into my Mentoring/Partnership Program - FREE. That’s a $1,250 value. In other words, I will coach you, even partner with you for 90 days! PARTNER with me NOW – by clicking this - https://hsolutions.infusionsoft.com/go/fc/trace72/lem1?r=trace72

How Lives Change

2010-04-23T06:34:00.001-04:00

I usually don't forward long emails but this is so inspiring I've got to give it to you. This is from my mentor, Bob Proctor. There is so much wisdom in this so read this slowly, absorb every word and learn the lessons to achieve an abundant life. Then forward this to everyone you care about.

Thanks!
Trace
----------------------------------

The story I am about to share with you may not be
relevant to your life. But I can assure you, someone you know can
benefit from it. Read this slowly and then forward it to the individuals
you know who feel stuck in life.

After close to fifty years of working in the field of
personal development, I am acutely aware there are many people who feel
caught in a trap. They're really not sure if or how they could ever
spring themselves free.

A person feels stuck when they have no hope. You see
hope gives you options. And a person without hope is not able to see any
other way to live than what they're doing. And what they're doing is
not working.

Today I am fortunate enough to own a company that
operates all over the world. I have friends in many different countries.
I have a fascinating team of people that work with me. I have great
business partners. And believe me when I tell you, life is good.

However, it wasn't always like that. In October of
1961, I was unhappy, I was sick and I was broke. I was earning $4,000 a
year and I owed $6,000. I had absolutely no assets. My formal education
consisted of two months high school. And I had no business experience
and a poor work record. I was 26 years old and I honestly felt like I
was trapped. Life looked to me like a dark tunnel. But then something
wonderful happened. I met a man who saw something in me that I was not
capable of seeing in myself. He got me to sit down and explain my
situation to him. It was fairly obvious I was a lost soul.

Then he asked me what I really wanted. And I didn't
know. I couldn't answer him. He made it very clear to me that my entire
mental focus was on what I didn't want and why I wasn't capable of doing
any better than I was doing. I was totally focused on problems and
believe me I was attracting them in abundance.

The man who befriended me was Raymond Douglas
Stanford. He was the first of six individuals who coached me over the
past fifty years. I can honestly say these people were responsible for
leading me into the bright clear light of day. They helped me recognize
that I had tremendous potential, and they assisted me in developing the
awareness required to live a constructive, fulfilling life. Ray Stanford
also made me aware that the mental prison I had confined myself in had
no locks. I was capable of walking out of it at any time I pleased, but I
didn't know how.

And I believe there are a lot of people today
especially in the economy we are experiencing who may be losing a home
or a job, who's attitude has been impacted by what's going on in their
world. Many of these people feel there's no answer to their dilemma.
They could and probably are doing what I was doing when I met Ray.
They're focused on their present situation. The doom and gloom is
filling their mind. And they have to do what Ray taught me to do - clear
your mind for a moment. Make believe everything is fine, and think
about what you really want. Because that is what Ray did for me. Then he
began to explain to me how everyone including me has infinite potential
and the difference in people is the choices they make and how they
utilize the potential that God gave them.

It's as Steve Bow, who was the Vice President of
Metropolitan Life Insurance Company, once said, "God's gift to us is
more talent and ability than we'll ever hope to use in our lifetime. Our
gift to God is to develop as much of that talent and ability as we can
in our lifetime."

Raymond introduced me to Napoleon Hill's book Think
and Grow Rich and he spent a lot of time explaining to me what
Napoleon Hill had written about. He explained that the premise that
served as the foundation for Napoleon Hill's life's work was the
following: "Anything the mind can conceive and believe, it can
achieve. " Ray made it clear that the operative word in Hill's
premise was "believe." He said everyone's imagination brings beautiful
pictures to the screen of a person's mind. However, only a very small
percentage of the world's population ever achieves the beauty or the
abundance that flows across their mind from time to time. And he said
the reason people don't achieve the good that they desire is for the
simple reason they don't believe it. Ray pointed out to me that if you
hear anything often enough you will begin to believe it. And when you
believe it, you'll achieve it. This is true of good and bad in our life.

Ray explained that if I would read Think and Grow
Rich often enough and visit with him frequently to receive the
support I required that I could literally turn my dreams into reality.
I'll be honest with you, I did not believe him. But I did believe that
he believed it. He actually believed that I could do better. And it was
his belief in me that moved me on to the right side of the road.

I was prepared to do anything honest to earn some
money, and I started to clean offices in my spare time. In less than
five years, I had a company that was cleaning offices in Toronto,
Montreal, Boston, Cleveland, Atlanta and London, England. My life was
changing and it was changing rapidly. But as Ray pointed out to me, what
was really changing was my attitude and my belief about what I was
capable of doing. And he made it clear to me that was happening because I
was listening to someone that knew more than I did and was eager to
help me.

I got so involved in studying Napoleon Hill's work
that I was led to Earl Nightingale's condensed narration of Napoleon
Hill's book Think and Grow Rich. Now I was reading the book and
listening to a long playing record. I was developing a greater
awareness. What I was actually doing was getting good advice from people
who demonstrated by results they knew what they were doing.

Prior to meeting Ray Stanford I spent all my time
talking to and listening to people that didn't know any more than me,
people who were living in the same situation I was living in, who
sympathized with my negative perception of life and why I couldn't win.

A number of years after Ray introduced me to Napoleon
Hill's book Think and Grow Rich and Earl Nightingale's condensed
narration of it, I left my own business and went to work with Earl
Nightingale and Lloyd Conant of the Nightingale Conant Corporation. It
was then that my progress moved on to a fast track. Earl Nightingale and
Lloyd Conant became my two new coaches. It was through them that I was
introduced to two other men that had a profound impact on my life -
Leland Val Van De Wall and Dr. C. Harry Roder. These four men taught me
more about the mind over the next four or five years than most people
would ever learn in an entire lifetime. And it was there and then that I
made up my mind I would spend the rest of my life teaching what I had
learned to everyone and anyone who had a sincere desire to win, to
improve the quality of their life, to live the abundant life which is
our birthright.

My basic nature is that I am a quiet, shy, withdrawn
individual. There are many people in the world that would not believe
that because they only know me as they see me today, but I can assure
you 42 years ago, that described me perfectly. It was then that I met
Bill Gove who was considered the Frank Sinatra of public speakers. I
watched him speaking on a stage at the O'Hare Hyatt Hotel in Chicago,
and I thought "wow is he ever good." And I thought if I could do what he
does, I could teach what I know to thousands, maybe hundreds of
thousands, maybe millions of people. And I thought "but I can't do
that." It was at that very point that a record started to play in my
head. It was a record I'd listened to thousands of times. It was a
recording called the Magic Word, and it was a record on attitude.

At one point in the recording Earl said "Now right
here we come to a strange fact. We tend to minimize the things that we
can do, the goals that we can accomplish, and for some equally strange
reason we think other people can do things that we cannot." He said,
"I want you to understand that is not true. You have deep reservoirs
of talent and ability within you. You're capable of doing anything you
desire."

As I said, I probably listened to that recording
thousands of times. And if you asked me if I understood it, I would have
said, of course I do. But as I watched Bill Gove stand on that stage
and through his public speaking ability have that audience in the palm
of his hand as I was thinking I wish I could do that but I can't, that
record of Earl's started playing in my head and I suddenly realized "That'
s what Earl means! -- If Bill Gove can do it, I can do it!"
And I made a decision there and then that I would not only learn how to
speak in public as well as he was speaking, I would have him teach me
how to do it, and he did.

He was the sixth coach that I've had. And today I am
comfortable on a stage in front of thousands of people sharing this
wonderful information that helps anyone understand regardless of their
situation there is a way for them to win. Today I'm living my dream.
Through our coaching program we train thousands of people to change
their situation and begin living the way they really want. We show
individuals how to multiply their income, how to develop meaningful
relationships, how to build their companies into global organizations,
and we point out it all begins in their own marvelous mind.

I will forever be grateful to the individuals that
coached me - that helped me understand we all have tremendous power
within us. And life can be wonderful, but we must make it that way. The
people I've just written about showed me how to do it. And they made it
very clear to me that if I really wanted to be happy in life, that I
should spend the rest of my life showing people what they taught me.

Bob Proctor

--------------

Do you know you can get Bob Proctor as your mentor for the price of dinner? You can even get him as your mentor for free. Check THIS out.

How to Raise Capital for Your Deals

2010-04-19T05:33:00.001-04:00

How to Make a Million Bucks by Working with Your Competition

2010-04-11T23:38:00.002-04:00

2-Part of Script to Raise Capital for Your Deals

2010-04-04T10:34:00.002-04:00

During the first ever "Think Rich Quick" seminar I did recently, I taught the attendees a 2-part script to raise capital for real estate deals. Believe me - this 2-part script works and you should stick by it.

Here's the wrong way to raise money which is the mistake that 99% of real estate investor make.

1. You approach family and friends; and
2. You beg them for money by saying something like: "Can you invest money in my first real estate deal?"

The above approach does not work because...
1. Your family and friends are your worst critics. Also, they don't want to feel uncomfortable lending you money in case your first real estate deal does not go according to plan.
2. Begging for money is a recipe for not getting it. If you appear desperate for money then lenders and investors won't give you their money as capital for your deals...specially if it's your first deal.

Here's the right way:
1. You approach 'real estate people' like real estate agents, mortgage brokers, real estate lawyers, etc; and
2. You don't ask them for money. Instead you ask them for a referral by following this script:
"Do you know anyone who wants to make 10-15% return on their money?"

Once you get a YES to that question (and the chances people you talked with will say YES to that question is higher than "Can you invest in my real estate deal?"), you of course get the name and phone number of the name being referred to you. You should then call the prospective investor and tell the prospective investor that he/she was referred by your common friend. Let's say you talked with a real estate attorney named Peter and he said that he thinks Paul has some money to invest and would definitely want to make 10-15% return on his money.

You call Paul and ask him: "Hi Paul, this is [your name]. Peter referred me to you and he said you're interested in making 10-15% return on your money. Is this correct?"

Chances are Paul will say YES. Then you follow up with "If I can show you an investment that is safe and secured by real estate such that you can make 10-15% return on your money safely, will that interest you?"

If Paul says "YES", you can ask him "How much money will you invest?" At this point, Paul could say NO to your question. If so, you can ask him why. If he says "I am not interested in being a landlord." You can then follow this up with: "Well you won't be a landlord. This investment is like a mortgage - it's secured by real estate but just as how your banks don't clean clogged toilets, so you won't as well because you will be like the bank." Other objections you will hear could be "I don't know you. Why should I invest in you?" You will answer this with: "I understand. If I can get Peter to join us for a meeting, when do you like to meet?" Always refer back to your common friend or acquaintance to establish or maintain credibility or rapport.

Using the above script does not guarantee you will get capital from private investors. However, you get higher chances of success by using it. I had 160 people try it LIVE in the first ever "Think Rich Quick" seminar. The results are unbelievable. In just 30 minutes people came back and when we tallied all the people who've raised money, we were able to raise over $1 Million from private investors. Amazing! Try it because it works.

dedicated to your success,
Trace

How Do You Get All The Private Money You Need for Your Deals?

2010-03-28T09:47:00.002-04:00

Every once in a while I feature a Guest Blogger. I know it's not April yet...but for the whole month of April, I am going to talk about how to raise money for your real estate deals. Even though it's not April quite yet, I've decided to start a few days early and get the ball rolling. So I invited Brad Wozny to be our guest blogger. Brad Wozny is the creator of the 6 FIGURE Syndication Secrets and 8 FIGURE Empire real estate syndication business systems. At the age of 27, while $24,160 in
credit card debt, Brad developed a system of real estate investing that allowed him and his partners to generate $3.2 Million in cash and equitable profits in 4 different markets...in only 93 days. Brad knows how to raise money and so I invited him to be my guest blogger...here's his post.

------------------------------------------------------------------

There is shocking failure rate of
investors. Statistics show that
92% of all new investors "Drop out",
or fail to do a deal in their first
90 days.

Worse still, of the 8% left over,
it's been tracked that 85% of those
investors fail to survive the first
year of their portfolio.

Why Such A HIGH Failure Rate of Investors?

The first has to do with investors
operating under a "Do It Yourself"
mentality.

You know - they try to use their own
cash and credit to do a deal.

The problem is that limits them to
the amount of deals they can do.

The second reason is that investors
simply don't know how to provide
value to wealthy individuals who
have money to invest with them.

Private money is attracted through
the creation of a relationship that
is usually nurtured over the period
of three or four months.

Sometimes you meet someone for the
first time, and they'll cut a check
for you on the spot.

The key for you, is to nurture at
least a dozen relationships with
wealthy individuals so you have
hundreds of thousands of dollars
available to invest into deals using
a Partner4Profits mentality.

This IS a relationship business.
The great thing is you can leverage
technology, and build relationships
with your investors over the phone and
through email...even Skype!

Why Should You Use Other People's Money?

Simple.

So you can do MORE deals, with LESS work.

Rather than using your own cash and
credit (which today's lending
guidelines prohibit you from doing
on more than 4 properties at a time),
you can do a Dozen.

All WITHOUT increasing the amount
of time in your business when you
have the Systemized Business Processes
that allow you to "Conduct" your
investment empire as a true CEO.

"The more Money you Raise = the more Deals you do ==> the more Money YOU MAKE!"

Oh - and by the way, the last credit cycle is
over. Remember those days? When bankers
were handing out NINJA loans left and
right to ILLEGAL Immigrants using Social
Security Numbers of Dead People?

It was mayhem!

But, I digress...

"Do What You Do Best - PARTNER or Hire On The Rest"

Back to you and what you should do with
all that money and wealth that's within
your reach right now.

I want you to re-invest a small portion
of your profits back into your business
to hire or outsource your unwanted tasks.
Let other people handle the work you don't enjoy.

OK Brad - So How Much Money Is Really Out There?

Back in October 2008, the Federal Reserve
announced that more than 11 Million Affluent
Americans owned 73% of all Stocks and Mutual
Funds in the U.S. Market.

A lot has changed since then, and those affluent
people have seen their wealth in the markets
drop by as much as 40%.

The opportunity for you lies in seeking out
those Affluent individuals, and positioning
your residential and commercial real estate
investments as an opportunity for them to
generate safer, and higher rates of return
than they could in the stock market.

After all - unlike stocks, in real estate
you:

1) Know the Value BEFORE you Buy,

2) Can secure their investment against the equity in the property, and

3) Can generate Consistent POSITIVE Cash Flow to pay your private money investors

When you position investment real estate in
this manner as an ultimate opportunity to
recoup - and GROW their wealth - then private
money investors will start to flock to you
in droves.

What's One Of the BEST Techniques For Raising Money!?

There are 12 different ways to find these private
investors. One of the greatest and most
simplest ways is to check out a great site
like Meetup.com

On this site, select your desired market where
you invest, then use the keyword phrases

"IRA Invest"
"401K Invest"
"Private Lending"

And you'll be connected to affluent individuals
who are looking for alternative investments
outside of the stock market.

This is just one of the dozens of my Partner4Profits
strategies I teach my clients who raise 6 figures
in private money in less than 5 months, and use
it to invest in their residential and commercial
investment deals, making sure they follow the
appropriate legal guidelines when they do so.

Now go out there this weekend, and
let me know how much money you raised!

To YOUR Massive Profits,
Brad Wozny

*************************************************
To learn more from Brad, and download a free
57-page No Pitch Strategic Real Estate Investing Report
and Video Series, take a moment and check out his
blog now at http://www.TopRealEstateInvestorTips.com

A High School Dropout is My Millionaire Mentor

2010-03-22T09:10:00.000-04:00

This is a true story.

A young man dropped out of high school - after barely 2 years in it. He landed a low paying job earning $4,000 a year. Even though this was back in 1960, his income was still small then. In fact, he was spending more than what he was earning such that he owed $7,000.

Can you relate to this? You're earning, working hard and yet you seem to be borrowing more and more money just to survive?

This young man did not like to read. No wonder he dropped out of high school. But miracles sometimes happen. In 1961, he got a hold of a powerful book and began to read it. He couldn't put it down. His sleeping mind was awakened. And more importantly, he applied what he read. The results were miraculous.

One year later, his income went from $4,000 to over $100,000. Two years after reading the book - his income shot up to over a $1,000,000. This was in 1963 when a million dollars was still a lot of money.

This high school drop out, turned millionaire is Bob Proctor. I have the fortune of getting him as a mentor and my life was never the same. He prepared a powerful video for you that will change your life. Here it is: https://sixminutes.infusionsoft.com/go/SM2SOP/trace72

This is totally free - nothing to buy and instead you're going to get tremendous value in this. You can thank me later.

dedicated to your success,
Trace
P.S. The book Bob Proctor read is "Think and Grow Rich".
P.P.S. I lend money for real estate deals. Go to http://buyfirstdeal.com for more details.

What is Aspire

2010-03-14T11:56:00.002-04:00

I love books. A big part of who I am is due to the books I’ve read. My philosophies, mindset, attitudes and beliefs continue to improve and evolve as I continue to read books. This is why I read at least one book a month. Usually, the advice I get from a book is incremental - I already knew the concept and the book just shows me a new way of looking at it. But every once in a while a great book comes that drastically changes the way you look at the world. In my 37 years of existence, as of a week ago, I can count these great books literally with two hands and these are:

1. The Bible (specially The New Testament) by God
2. Seven Habits of Highly Effective People by Steven Covey
3. A Brief History of Time by Stephen Hawking
4. Rich Dad, Poor Dad by Robert Kiyosaki
5. Nothing Down by Robert Allen
6. Quick Turn Real Estate by Ron Legrand
7. The E-Myth by Michael Gerber
8. The Four Hour Workweek by Tim Ferris
9. The Tipping Point by Malcolm Gladwell
10. The Science of Getting Rich by Wallace Wattles

This week however, a book was added to my collection of “The Greats” that obviously forces me to now count them with more than 2 hands. The latest book I considered one of “The Greats” is the book “Aspire” written by Kevin Hall.

(By the way, I am not in any way being compensated by endorsing the book "Aspire". I just like it and inspired by it. I learned about it through Bob Proctor's Six Minutes to Success - of which I am a subscriber and affiliate of).

The main premise of the book is this: words have power within them. You unlock this power by understanding how a word came about. It’s not just learning about words but learning from words. What is so breakthrough about this and why I do I consider the book “Aspire” one of “The Greats”?

Instead of me presenting you with intellectual arguments that you may or may not remember after reading this blog post, let me paraphrase 2 stories taken from the book “Aspire” and I will let you decide whether this book can be added to your “The Greats” collection.

“Genshai”

Kevin Hall went to Vienna, the city where the great Viktor Frankl lived. While in Vienna he met Pravin a shopkeeper who was born and grew up in India. Pravin keeps a guest book he called “The Greats” and he insisted that Kevin signs it. Kevin declined because the people who signed the book are truly great and famous people like Mother Teresa. Pravin insisted that Kevin is truly one of “The Greats”. He invited Kevin for dinner and during dinner he mentioned about a word that is more powerful than charity that Kevin needs to learn. This word is the word “Genshai” - which means you should not do anything to anyone that will make them feel small. Pravin explained what Genshai means by way of an example:

If you see a beggar on the street and you casually throw him a coin, you are not practicing Genshai. But if you kneel down, look the beggar in the eye, and carefully placed the coin in his hand, you are practicing Genshai.

Pravin told Kevin this story and this word because Kevin treated himself in a small way by not considering himself one of “The Greats”. We all consider ourselves smaller than what we truly are. The truth is, how we see ourselves is how we see the world. The world reflects back to us what we believe. Practice and live Genshai and you will discover the greatness in you and the greatness in people around you.

“Passion”

Chad Hymas suffered a terrible accident. The bale of hay he was hauling fell on his neck breaking it and his spine as well. Worse as he fell down his feet got trapped in the tractor crushing them instantly.

The doctors miraculously saved his life but he had no mobility from the neck down. He had to learn everything that we take for granted. Eventually the use of his hands came back to him but without legs he of course couldn’t walk.

Without any source of income to support his family, the idea of being a motivational speaker came to him. A friend of a friend referred him to Kevin who is also a motivational speaker.

During the meeting they decided that Chad needed to do something hard that would inspire people. Chad decided to ride a bike pedaling it using his hands for a 513 mile stretch in the middle of the Nevada desert in the middle of summer. The temperature was a grueling 120 degrees Farenheit. The start was easy - the media was there, as well as Chad’s family and friends to cheer him on. But during the middle of the trek, it was so hard that Chad almost quit. Kevin advised him not to...telling him that despite the odds the use of his hands came back to him and he had more strength than he knew. Kevin advised him to draw from within him all the passion he could muster. Fortunately, Chad listened to Kevin’s advise and decided not to quit. It was so hard at one point that Chad was so weak he could barely keep his hands on the pedal - they had to wrap it around the pedal with tape. Chad used to count mile markers...but when it came too far apart because his pace was slowing down, he started counting miles. When Chad was so tired that he could barely travel 2 miles per hour, his dad suggested he count the yellow lines on the road - they come by much faster.

This is what we need to do when we have a big goal specially if we encounter challenges and difficulties. We should live it one day at a time, even one hour at a time.

Chad despite the odds with his physical strength deserting him was able to finish. And he finished it with passion. On that same day someone invited him to give his first ever paid motivational speech. Without waiting for his body to recuperate, Chad wrote and practiced his speech and he flew to his first highly paid motivational talk 3 days later. Chad now earns 7-figures every year from his speaking engagements and is now considered one of the best motivational speakers today.

Kevin described Chad’s self imposed challenge with the word “Passion”. It’s a fairly new word - coined to refer literally to Christ’s carrying of the Cross and Crucifixion. It’s a word that literally means to suffer for one’s love. To succeed in life, we need to willingly suffer for the goals we set for ourselves. We can have everything in life that is good and noble as long as we pay the price. Unsuccessful people say they will “try” so they give themselves permission or leeway to fail. If you have passion, you don’t try but you give it all you’ve got and more...even when it hurts (because it will) for as long as it takes. Do you have the passion to succeed in your financial life? Or is this real estate investing business only a hobby for you and you’ll just try it and see what happens? Don’t even try it then if that’s the case. Jump in it with passion and give it your all. With passion you’ll succeed!

dedicated to your success,
Trace

The Secret Word

2010-03-07T09:35:00.000-05:00

My mentor, Bob Proctor, in one his daily coaching program via video (Six Minutes to Success) relayed to me a powerful Hindi word - Genshai (pronounced as gen-shy). It means you should never treat another person in a manner that would make them feel small. He learned this word from the book “Aspire” written by Kevin Hall.

Genshai is much, much more than charity.

For example, if you walk by a beggar and toss him a coin, you are not practicing Genshai. But if you knelt down on your knees and look him in the eye when you placed the coin in his hand, then you become a real disciple of Genshai.

You might be asking: what does this got to do with real estate investing? Everything. Your success depends on it. Here’s why. Real estate investing or being quick turn real estate transaction engineer is about helping sellers get rid of problem properties and then providing home ownership to buyers who would otherwise not be able to afford or qualify for one. Real estate investing is getting dilapidated buildings and improving them resulting in improved communities. Real estate investing is helping someone in foreclosure avoid the foreclosure by the investor buying the house before the foreclosure auction or sale.

Bottomline: real estate investing is all about helping people with regard to their real estate related matters. If you do it with the spirit of Genshai you will have...

Happy sellers who will not feel they were taken advantaged of in their situation...

Happy buyers who will feel they got a great deal on a house and the dream of homeownership is now finally a reality...

Happy communities saved from blight...

Homeowners saved from foreclosure...again in a way that they feel they were helped not taken advantaged of....

These happy sellers, buyers and whole communities will refer you to their friends and family and you will have referral business for many years to come. Genshai is a great business strategy that will help separate you from your competition. Genshai will make your prospects trust you and as I’ve said a thousand times, people will do business with people they trust and they will trust you if you practice Genshai.

So live by the principle of Genshai. You’ll make more money in the long run and sleep well at night.

Are you Too Busy?

2010-02-21T16:07:00.003-05:00

My friend David Oswald is a real estate investor and he lives the 4-Hour Workweek life. He does this by outsourcing everything he does not like to do and get other people do the work.

Here's an article he wrote which I find very helpful and hence, I am sharing it with you.
----------------

How Do I Know I Need a Virtual Assistant?

by David Oswald

Do you remember when you started your business, determined that you were not going to work for someone else anymore? What were you looking for? The freedom to be your own boss, deciding when and how much you were going to work and getting to keep all the profits?

If you’re like most budding entrepreneurs, you will have found that the reality is very different. Instead of being stuck at the desk of another company, you find you’re chained to your own desk, often working late into the night in order to get everything done.

And did you ever realize how many hats you would have to wear? All the job functions done by different people in the company you left are funneled into one person – you – as you try and become an excellent accountant, marketer, attorney, graphic artist, researcher, writer, website designer, and, oh yes, producer of whatever it is you set out to do in the first place.

All of which suggests that you need support staff, but who can afford to employ people when they are starting off? It can be very informative to keep a log of where your time goes, so you can see just which tasks are draining your time and energy. If you do most of your work on a computer, there is a little free program called Manic Time (www.manictime.com) which will keep track for you, and can help point you in the right direction.

You may be pursuing your passion, but unless you are exceptional you are also involved with many necessary business functions about which you are not very passionate. You may have left the rat race, but you have substituted your own treadmill. The thing about the rat race is that even if you win…you’re still a rat (haa haa). For more information on great outsourcing and time creation tips, visit http://www.101WaysToOutsource.com

David Oswald (aka ‘The Diamond’) is an outsourcing enthusiast and expert in time creation. For more great information, visit www.DavidOswaldOnline.com today

She Made 100,000 Bucks Without Inspecting the Property She Bought and Sold It in 2 weeks?

2010-02-14T14:33:00.004-05:00

I interviewed one of my students - her name is Eden April Alemania. She made 100,00 bucks (that's pesos though...which is equivalent to one year's salary in the Philippines!) on a property she has never even seen which she sold using online marketing in just 2 weeks. I captured part of the interview here. To read the rest of the interview, go to BuyFirstDeal.com - the Facebook for the beginning real estate investor.

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Trace: I am so excited to interview Eden April Alemania, one of my millionaire real estate students. She bought and sold a deal that made her a quick P100,000. For some of you listening to this might be saying “But that’s not a lot of money Trace”. Well let me tell you this: for Eden this is a quick and easy deal and even though she has made a lot more money on other deals, she considers this deal her favorite deal. I am here to find out why.

So Eden, before we jump into the numbers, for those of you who don’t know you, tell us a little bit about yourself - how long you’ve been investing, what do you specialize in and when did you become a real estate millionaire.

Eden:
Hi Trace! I am a chemical engineer by profession with a background in the electronics industry although I’ve already quit my job after 3 years of working in a manufacturing setting. I’ve found other passions since then, one of which is real estate investing which I’ve been into for almost 2 years now. I’ve tried retailing, wholesaling, rentals, rent-to-own and even build-and-rent. But my favorite strategies are wholesaling and retailing. Within 9 months, I became an asset millionaire with the first 3 properties I bought and sold or put in contract. My favorite is my first wholesale deal in Tagaytay, a great destination place south of Metro Manila.

Trace: Great. I’ve always admired your bias towards action. When I teach you a concept you immediately implement it. How did you find out about this deal? Did you find out about this deal through networking or by putting out marketing out there?

Eden:
During one of the Think Rich Pinoy seminars, I was approached by an attendee who wanted to sell his property.

Trace: Interesting. How did you negotiate this deal?

Eden:
First we did a comparable analysis on the property We found out that we can sell it for Php1,300,000 at full price. He was approached by a buyer buying the property at Php600,000 and was seriously thinking about taking the offer. I told him I can sell the property for Php1,000,000 if he gives me Php100,000 from the sale which he agreed.

Trace: What is the seller’s motivation for selling this deal?

Eden:
He has been trying to sell it for over a year already with only 1 taker who gave him a low-ball offer. He needs the cash as a downpayment on a condo he bought. He’s also tired of going to and from Manila to maintain the house. He felt stuck with the property. He’s a motivated seller.

Trace: What was the seller’s original asking price? How did you convince the seller to lower the price?

Eden:
On the contrary, I convinced the seller that I can sell his house for a higher price than what he is asking. He’s amenable with Php600,000 with another buyer but we sold the property at Php1,000,000 and I got Php100,000 from the deal.

Trace: What made this deal easy for you? Is it because you did not put any money down or it was sold very quickly or both?

Eden:
It is both and a lot more. It is my favorite deal because I have neither seen nor set foot on the property and we sold it in 3 weeks! “We” because I gave the seller instructions such as making the ad and getting video clips and talking to the buyers and he executed every task perfectly well. You can see the actual ad at renttoownproperties.blogspot.com

Trace: People are afraid if they get a property and they can’t sell it they’ll get stuck with it. What did you do to minimize if not eliminate this risks?

To read the rest of the interview, go to BuyFirstDeal.com.

-------------

dedicated to your success,
Trace
P.S. Do you want to get real estate knowledge for free? why pay the "gurus" thousands of dollars for information you can get online for free? Go to FreeRESeminars.com to attend seminars and webinars some gurus are charging thousands of dollars for - absolutely free?

Code Violations - How to Turn a Problem into Profit

2010-02-06T09:06:00.003-05:00

Let me tell you a story. It’s all here in the video below. Watch it and learn how to turn a problem into profit while helping a desperate seller at the same time.

dedicated to your success,
Trace
P.S. I have a webinar Wednesday, 9 PM eastern about Building Code Violations. Go to http://freeREseminars.com

3Ms of a Million Dollar Business

2010-01-31T09:55:00.007-05:00

I a member of a group of gurus, speakers and wealth teachers who do Joint ventures with each other. For example, I've met Tony Severino, an expert on buying and selling houses through owner financing through this group. I promoted his system to all of you a few months back.

This group is a very helpful group of people who openly share valuable information . One of the more active members of the group is Cory Boatright. There is not a week that I have not heard from him a valuable tip or two that helps my business. His motto is "Always be a servant".

Last week, Dan, one of our members, asked a question on how he can help an entrepreneur he is coaching to have more free time and yet still make the same if not more money. Cory wrote a detailed answer on how to do this. I copied it word for word (I hope he does not mind) and I thought of sharing this with you because this will truly create a Million Dollar business for you (as it did for Cory and some of his students). Are you ready? Here it is:

-----------------------------------

There are three M’s to Successful business.

Mindset

Mechanics

Money

Mindset: This is crucial because without it nothing else matters. The first thing your friend needs to do is change his mind set on letting go of control. As a business owner we tend to want to hold onto control as much as possible because we are fearful of everything going to hell in a hand basket if we let go of it.

However I have learned the more control you let go of the easier it becomes to have more it. That sounds strange so I’ll explain.

When you want to have your hand on every lever in your business you go into what I call an “octopus mode”. You think you have enough hands to handle everything in your business, but in reality you do not. You eventually get worn out and ultimately quit or go bankrupt. This can all be avoided when you redefine what your business is designed to deliver for you.

It’s your business therefore you have a purpose for its existence. It isn’t there to make you a slave. It’s there as your liberation vehicle so you don’t have to work 9-5 at some dead end job that could care less about you. It is there so when you sleep it still works around the clock… especially on the Internet. It is there to provide some security as you watched it grow and saw how it worked from the beginning. You know your business better than anyone and you will NEVER find someone as good as you to run it (so you think).

A solution to getting out of your business is adamantly seeking someone that is 80% as good as you. You can find talented and people willing to learn off Craigslist now for 50% off their regular pay. Your friend must be willing to TRAIN this person on a consistent basis. A good way I have found to accomplish this is doing ROLE PLAYING. You both sit down and one person is the homeowner and the other is the investor or agent. You spend hours training on what the homeowner might say, how to rebuttal it, when to close, how to close, what NOT to say, why you don’t say it etc. You invest in this person. You also make sure this person takes the Kolbe.com test. This will show both of you their strengths and you want to make sure they are operating out of those strengths for them to be happy and productive long term.

Mechanics: These are the systems. These are the Standard Operating Procedures (S.O.P’s) for business. This is the software. The management systems. The Human Resource systems. The Customer Retainer system. The step-by-step processes for every major department in his business. This is the entire break down from soup to nuts on “how to do” his business. If he hasn’t put one of these together Steve Cook has an excellent “Business Plan” course where he provides an easy template to follow to show a banker if you wanted a loan. Once the systems are broken down and easily explainable, they sort of take care of themselves just as long as you have someone that is at least competent to run them.

Money: This is funny to me because so many business owners ONLY focuses on the money. It’s the end goal. It’s what they live and die for. Without it you feel horrible and with it (without proper Mindset) you can’t get enough of it. The ironic thing is this. Even though your friend is focused on money he will probably make less of it. The reason is he isn’t focusing on Mindset. I know this because He’s PERSONALLY STILL RUNNING HIS BUSINESS AND PULLING THE LEVERS ON A DAY TO DAY BASIS KILLING HIMSELF MORE EACH DAY! Don’t get me wrong. There is nothing wrong with strong work ethic and persistence. But you MUST have the MINDSET or it simply doesn’t matter. Nothing matters.

So here’s a rather simple break down in concept to get your friend going in the right direction.

1. Post a job opening advertisement on Craigslist tomorrow and over the weekend evaluate the responses. Have him write in the ad and be honest on what he is looking for. Then tell the prospects to respond WHY they think they would be the best candidate for the position.

2. Take all those applications and responses and go through each one setting aside ONLY the ones that really stood out to him.

3. Devote 2 hours without interruption and call back the candidates.

4. Set up a day to hold interviews

5. Pick the candidates that seems to be the most driven, have initiative, have team player attitude, yet loyal to the task and ready to get started asap.

6. DECIDE and pick a candidate. Then start immediately doing ROLE PLAYING and training this person in how to talk to homeowners, paperwork used to have them sign and all the mechanics etc.

7. Start giving this person leads and sending them out in the field to do work.

8. Hopefully this person performs well so you can start paying them to train others. They become a manager...They report to your friend...The person they train reports to them.

Thus you are now starting to empower them too.

9. For accountability, they are required to read one of your investor courses, or books about motivation or staying positive every month. They report to your friend about this book and what they learned from it and applied to their life and your friends business.

10. Use this basic model and split up your friends different departments and make a goal to have a manager for each department.

Where does all the money come from to pay these people? Are you kidding me? Do you realize that for $500 -1000 (one assignment fee) , plus bonuses… you can get 20 or more hours of your life back? This doesn’t even count the money this person will make for your business. The deals you close together and pay them X and you basically make money for doing nothing.

The more control your friend can give away from personally moving the “levers” in his business, the easier it will be for him to get his sanity back and actually make money without working for it.

I know this was long, but I hope this helps.

Remember... be a servant,

Cory Boatright
Loss Mitigation Specialist
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The Trillionaire Wealth Building Formula

2010-01-24T08:00:00.000-05:00

My blog post for the week comes from my posting in the Trillionaire Wealth Advice daily series in BuyFirstDeal.com

---------------------------

January 24, 2010; Read Proverbs 24
“Finish your outdoor work
and get your fields ready;
after that, build your house.” - Proverbs 24:27

Someone emailed me today...and to ‘protect the innocent’ we’ll just call her Gemma:

“Hi Trace,
I've been receiving emails from you and I appreciate it.
But like most people, I've not seriously thought about
real estate investing (although Bo Sanchez and Larry
Gamboa are personal friends of mine) for the simple
reason I don't have the money. As a matter-of-fact,
we (my husband and I) are broke due to unsound business
moves/decisions........
What options do I have so I can join the ranks of the truly rich like you?
Thanks and God bless,
Gemma”

My answer to Gemma is that it does not take money to make money. But after I read the above proverb, I realized the better way to answer her question or dilemma is through a story. Well, let me tell you 2 stories.

The first story is a story of a Chinese immigrant who went to the Philippines to escape communism. He started out as a janitor. And then in 30 years, while most Filipinos complain about the politicians, about martial law during the time of Marcos, about coup d’ etat during the time of Aquino and about a thousand and one reasons why it was impossible to become rich in the Philippines, this janitor who could barely speak Tagalog when he came to the Philippines, became a multi-billionaire and is now one of the richest men in Asia. His name is Lucio Tan.

If Lucio Tan started with zero networth and became a billionaire, the second story is even more impressive. He used to be a billionaire but when the law changed in the US and he became too arrogant he lost everything he owns and more. His networth was NEGATIVE 900 Million dollars - that means he owes more than he owns. He realized the beggar down the street was actually richer than him! And yet in less than ten years, he became a MULTI BILLIONAIRE again! His name is Donald Trump.

Both men know the secret of making money without money. Lucio Tan didn’t have any money. Donald Trump has negative money! How did they do it? King Solomon’s proverb provides the answer: “Finish your outdoor work and get your fields ready; after that build your house.”

Wealth building has a formula. King Solomon says that before you can build your house - your wealth - you have to finish your “outdoor work” first. Outdoor work refers to Income. You have to grow your Income through a business you can start with no money. My book “Think Rich Quick” is all about having a real estate business you can start with no money where you can make money in a few weeks, even in a few days.

Then you have to ready your fields - the foundation upon which you can build your house. The extra Income you generate through a business must be saved. You can then use your savings to invest - to buy income producing real estate, or shares in businesses . To summarize, here’s the Billionaire Wealth Building Formula - in fact we can even call it the Trillionaire Wealth Building Formula since King Solomon is a Trillionaire:

Generate Income (through a business) ---> then SAVE the Income ---> then INVEST the Savings into Other Businesses and/or Cashflow Producing Real Estate ---> then Save the Income from the Businesses and/or Real Estate ---> then INVEST again... (repeat this formula over and over and your wealth grows exponentially!)

The Trillionaire Wealth Advice for Today is: generate extra income through a business (you can start with no money), save what you earn, invest it in another business and/or real estate - and continue saving and investing whatever you earn from all of your businesses and/or real estate and then repeat the process again and again.

How Long Will You Try Before you Quit?

2010-01-17T10:38:00.003-05:00

I don't believe you are a quitter. One of my students, Angelica Galia has all the reasons in the world to quit. She worked hard and long to get her real estate business off the ground. For the longest time money is coming out not coming in. For many months, the temptation to quit and give up was there. I pushed her. One time, I even "scolded" her for changing strategies. There were times she was gripped by fear.

Good thing she did not quit...because after several months of effort, she was rewarded by making $17,000 on her very first deal. Not only that but the buyers database she has built as well as relationships with banks, real estate agents and title companies and lenders she has established will make her millions down the road.

Below is my interview with her.
What about you? How will long will you try before you quit?

-------------------------------
Trace: I am so excited to interview one of my students who have just finished her first deal. Congratulations Angie!

Angie: Thank you.

Trace: Angie is based in California. Why don’t you tell some details about the deal? When did you put this under contract? I know the numbers are on the screen but can you tell us more about it?

Angie: Ok, we placed the property under contract in February 2009. So it has been 10 months in the making.

Trace: Oh wow, ok.

Angie: We bought the property for $120,000 and sold it for $150,000. So after all costs, we probably netted 14,000. And then, as you can see in the pictures, this is a house that was demolished. The foundation was just the remaining but we were able to sell it.

Trace: I know the reason why it took so long. But can you tell us more why it took that long and why the next deal won’t take that long?

Angie: It was really frustrating. But the reason why it took a long time was because the lender’s loss mitigation staff went into transition and most of the people were fired. The lender was IndyMac and as you know, IndyMac was closed by the Federal Reserve. The original team with whom we were dealing with was in California and the new team was in Texas. So it was not actually our fault. We would call almost every week and then even after the BPO was done, that was when the transition happened. When we finally got the new team’s attention, we got in touch with their Vice President. Actually, we got in touch with him through LinkedIn.

Trace: Nice. How did you find the deal?

Angie: Actually, it was a referral. The seller is an old client. We were trying to do their loan. They got a construction loan. But later on, when they got all the permits, the construction lender backed out.

Trace: But the value of this property, once it’s fully built, like you have an ARV on it?

Angie: It’s $450,000.

Trace: And you got it for $120,000. That’s pretty good.

Angie: When we analyze deals and submit our offers, since we’re dealing mostly with investors, we almost want to make sure that the investor will make some money.
Trace: Right, definitely. This is an awesome deal for the investor. People are saying that the market is low but if you can sell this like a lot with partially finished foundation, then you can definitely make this money. You made like $14, 327.68.

Angie: Actually, the agent also gave back his $3,000. So we actually made $17,000. Because he already made money on the first leg, so in the second round he gave it to us.

Trace: That’s wonderful. So how did you get the buyer? You are telling me that you have 2 buyers for this property, right?

Angie: We not only said 2 buyers but probably found 6 buyers in the first round. I mentioned first round because when we got the property, we listed it with the real estate agent so that it can have more exposure to the MLS. We got so many calls and got about 6 offers. We accepted one and had a backup buyer. But since the approval took 10 months, the buyer backed out when we were ready to close since he already found another property in the meantime. So I called the backup buyer and he said go. But when we encountered problems with him at escrow, I posted the property in craigslist for about 3 days and received 4 calls from that posting. One from a builder who was very interested but then he came too late because by that time our back up buyer came back and said “let’s close.”

Trace: The other benefit of this experience even though it took a long time is, for one, you have now a lot of buyers in your database who are cash buyers. Tell our audience, what are the 3 things you learned from this experience?

Angie: Obviously, No. 1 is … Patience. (Laughing)

Trace: (Laughing) I commend you for that, for being really, really patient for this deal.

Angie: Yeah. There were so many things we have learned from it. And then No. 2 was, of course, you have to be very thorough with your documentation: the terms with your buyer, etc. If you are firm enough and then you have put everything in writing. That’s the second one.
The 3rd one is “Don’t be greedy.” Because we are expecting more, to make more profit. But then, we were just thinking let’s just close this and move forward. So instead of relying on one deal, let’s do volume.

Trace: That’s a very good decision. So you’ve learned patience, you’ve learned a lot of negotiation skills. And part of negotiation skills is not being too greedy so that you can get this deal done and move on. Great!
I also helped you in getting the money for this deal. So tell our audience, like how long you use the money and what are the terms?

Angie: Trace provided the transactional funding of $120,000 that made it possible for us to buy the property. We got it at 3%. And then, it was supposed to be 2 days but because of the delay that happened in escrow, I think we were able to pay it back after a week. But then, as I said, without this money this business would not even get off the ground. You remember, I read your book in early 2008 and then emailed you asking for help since I was broke. (laugh) It took a year for me to even find the money to start the coaching so I’m really grateful for this opportunity.

Trace: Great, any last words that you can leave with us?

Angie: Just do it! (laugh) For others who have not yet taken their first step, you just need to take the first step, and the next ones will be easier. And then, now is the best time. By the way, I also refuse to read any negative news or watch negative on TV or on the newspapers. So then it will help you to be positive all the time. I’m convinced that we can make money so that we can be truly rich.

Trace: Yup, exactly. And what’s in the slide here that “even in a slow market when people are complaining that real estate is dead and we can’t make money, you’ve proven that you can sell a property quickly. In fact, you sold it even before you bought it which is very cool.

For those of you still who haven’t taken the first step as Angie said and those who haven’t bought their first real estate deal yet, go to the website http://BuyFirstDeal.com. There’s ton of information in there and I’m featuring success stories from my students like Angie every single month to inspire you and educate you on what you need to do in order to succeed even in today’s market. So again, Angie, I appreciate your time and let’s make more money on your subsequent deals. We have a deal here worth one right now, 10 to 20 properties, 5 million dollars. I’ve already talked with a potential buyer, by the way that can be done probably a lot faster than ten months. Ok? (laugh) Thanks, Angie.

Angie: Ok, you’re welcome, bye!

The Wise Teaches what They Most Need to Learn

2010-01-10T09:01:00.002-05:00

For my blog post this week, I am copying my post in the forum I started in BuyFirstDeal.com - Wealth Advice from a Trillionaire. I read from the book "The Richest Man Who Ever Lived" (by Steven K. Scott) that King Solomon was the richest man who ever lived - and by some accounts, he was a trillionaire. King Solomon captured his wisdom is the Book of Proverbs - and everyday (since December 1) I write something about the verses in Proverbs that catch my attention. For today, January 10, below is what I wrote about.

January 10, 2010; Read Proverbs 10
"Wisdom is found on the lips of the discerning,  
but a rod is for the back of him who lacks judgment.
Wise men store up knowledge,  
but the mouth of a fool invites ruin." - Proverbs 10:13-14

Do you want to learn more about real estate investing? Here’s a shortcut: start teaching it to others. Write or blog about it and talk about it. Why? Several things will happen if you do.

1. You will learn it at a deeper level - you’re forced to study it at a deeper level because you’re teaching it. You will notice all the minutiae.

2. You will attract people or like minded individuals to your business. Some of these are potential partners - for example, some of my students are now my business partners.

3. You will attract potential investors. As you teach people, your credibility as a real estate expert grows - and people trust experts. Here’s the thing: people invest money in people they trust.

4. You will attract sellers of properties as well as prospective buyers. Word of mouth marketing is responsible for over 30% of my business in 2009. By being known in your circle of influence that you are “the real estate expert” you will attract deals and buyers to you.

5. You can even monetize this knowledge. You can put Adsense ads in your blog. You can do affiliate marketing - promoting other people’s information products to your blog readers.

6. And of course when you learn real estate investing at a deeper level and you attract partners, investors, sellers and buyers - you will do more deals and you will make more money.

You might be thinking: “But Trace, I am a beginner. I don’t know much. How can I teach?” Here’s the answer: people learn as much from your story as they learn from your technical know-how. That is, based on your life story - why or how you decided to invest in real estate - you have a unique perspective that only YOU can talk or write about. For example, I tell people the story of my dad who worked hard all his life as a seaman but since he never bothered to learn how to save and invest, he has nothing. The lesson from that story has changed the lives of hundreds of seaman and thousands of my readers. I receive emails almost every week about it. Here’s one of those emails:

“Hi Trace,

I have been receiving your e-mail through my subscription and this is by far the longest time I have spent reading through your site. This story struck me the most because I am also an OFW based here in Bahrain with 2 of my siblings. I have personally experienced the Wheel of Fortune lifestyle back home...when my mom is still earning more than enough for our family. But now we have to be away to try and make a living for our family. I hope you can direct me where I should start in building my success. I myself is drowning in debt and I have not started any savings plan or whatsoever.

Your wisdom is highly appreciated and I look forward in being one of your success stories.

God Bless & More Power!

Yan”

DOn’t be afraid to teach. The world needs to hear from your perspective. The world needs your life story. Who knows? Someone might get inspired because of it. Someone might take action because of it and someone’s life will be changed for the better because of it. And when you put it out there, you’re putting out something good and it will come back to you a hundred fold.

The Trillionaire Wealth Advice for Today is: Teach - talk and write about real estate investing using your life story and perspective. You will learn real estate investing at a deeper level and you will change the world at the same time.

dedicated to your success,
Trace
P.S. If you have not taken advantage of the FRE,E real estate blueprint from my mentor - Preston Ely, you're missing out. Go to http://housebuyerinstitute.com/freedomsoft NOW before he takes down this blueprint. It's totally FR;EE.

What's Better than New Year's Resolutions

2010-01-03T16:01:00.003-05:00

In the beginning of every year the sales of exercise equipment and gym memberships are at their annual highs. Why? It’s driven by “New Year’s resolutions fever“ (that is people are making new year‘s resolutions - mostly that of losing weight and being fit). However, less than 90 days into the year, people drop their resolutions to lose weight and in the battle of the bulge the fat almost always wins.

After 37 years of existence, I realized that New Year’s resolutions NEVER work. Why? Here are the reasons why:

1. NY resolutions are almost always too vague and too broad. The typical resolutions go like these: “I want to be rich” or “By 2010, I will be physically fit”, or “This year, I will control my temper better.” Instead be very, very clear and specific on what you want. Don’t say “I want to be rich” - say “I want to make $10,000 per month working 10 hours per week by 10 pm eastern time on October 10, 2010.”

2. NY resolutions are non committal typically. Saying “I want to be physically fit.” is nice but saying you want it but not need it shows a lack of commitment. Instead say this “I will lose 12 pounds in 12 days or else I will give $1,200 to a political campaign fund of a politician I hate the most.” By putting yourself on the line and putting a monetary penalty if you don’t achieve your goal in a short period of time shows a very high level of commitment. If you commit and play all out chances are you will achieve your goals.

3. NY resolutions typically have a time period of 1 year and according to Tim Ferris, you will force yourself to accomplish more if you shorten the time period. Make it unrealistic and you’ll be surprised by what you can achieve. Tim Ferris for instance lost 40 pounds in just 90 days but he did it under close supervision of doctors and after making extensive research on what’s possible.

4. NY resolutions are typically all-or-nothing goals and when we don’t achieve them, we get discouraged. Instead, Raymond Aaron suggested setting 3 goals which he calls the MTO goals. MTO stands for Minimum, Target and Outrageous. If, say you want to acquire your first deal and make $5,000 profit in the next 90 days - set this as your target. Maybe set your minimum as “90 days from now, I will at least have 10 cash buyers in my database and have evaluated at least 10 houses.” Minimum is what you KNOW you can accomplish. Target is what you THINK you can do and Outrageous is what you HOPE but you’re not sure is possible for you. In this example, maybe you can set as your outrageous goal the goal of acquiring and profiting from 3 houses and making a $30,000 profit.

5. NY resolutions are typically not publicized. They are usually very private. Instead make a public commitment - make it known to everyone you know or like-minded people that you have set a goal and you want them to make you accountable for them. I like the example of Red Tolentino who publicly declared that he will buy and sell a deal in the next 4 months and make P100,000 (equivalent to $2,000). He declared it in my website - http://BuyFirstDeal.com - with over 1,000 members around the world. Because he made this public declaration, I decided to help him and give him a 1-on-1 30-minute coaching session (sorry - I will not give this to anyone else anymore).

6. NY resolutions stop at the goal and no thoughts have been given to HOW the goal will be accomplished. When you set a goal, you should not stop at just the goal - you have to ask yourself what are the strategies and tactics I need to employ to accomplish the goal? Strategies are the things you need to do to accomplish your goals. Tactics are the tasks you need to do by when and by whom - in order to implement your strategies. For example, if your goal is to profit from your first deal in the next 120 days and you’re a full time student like Red…one strategy you may want to employ is partnering with someone of legal age who can sign in his behalf. The tactic is specifically when he should look for this person and what specific tasks he needs to do in order to find this person (like posting an ad in BuyFirstDeal.com, attending Cashflow 101 meetings, etc.)

So, bottomline what’s better than making New Year’s Resolutions is making a definite, strategic plan. This involves setting a very specific goal (in MTO format) with a tight deadline and a detailed plan comprising of strategies and tactics to achieve the goal. Then make a public commitment about it - and specify a penalty if you don’t achieve the goal. Get an accountability partner also - so that this partner will keep you committed and ask him or her to check on you on a regular basis.

Dedicated to your success,
Trace
P.S. Interested in learning how to make money wholesaling houses but tired of hearing real estate gurus pitch you their expensive home study courses? Check this NO PITCH, content only interview with wholesaling experts - http://housebuyerinstitute.com/wholesalesecrets

Conventional financial wisdom leads to poverty

2009-12-26T13:12:00.003-05:00

I am reading a book "Millionaire by Thirty" by authors Douglas, Emron and Aaron Andrew. Emron and Aaron are Andrew's sons - both of whom became millionaires way before they turned 30. What I like about the book is the unconventional wisdom that it teaches. (NOTE: I am not being compensated financially for mentioning the book in any way. I just like it and I agree with some of its unconventional financial wisdom)

For one if conventional wisdom works, then everybody should be rich by now which is not the case. For example: conventional wisdom states that having a mortgage on a house is a "bad thing" and you need to pay off the mortgage as fast as possible. The book "Millionaire by Thirty" suggests and illustrates that paying off the mortgage on your house is NOT always the smart thing to do. Why is this?

The concept can be summarized in one word: ARBITRAGE.

Arbitrage is what your bank does with your money. You deposit your money with the bank. The bank actually borrows your money and gives you 1-3% interest. It then lends that money for 5-8% and it makes money on the spread. This is why the banks can afford to buy a whole building for its office. Arbitrage gives them tremendous wealth acceleration because they're using Other People's Money - yours and they make money on it.

The book "Millionaire by Thirty" suggests you do the same. Unlike Robert Kiyosaki that says a house is a liability, the Andrews say that you can convert it into an asset by making its equity work for you. You can refinance (in the Philippines you call it "you take out") the equity out of your house and then invest it in a side fund that makes more money than the interest you're paying. (NOTE: if you're not financially disciplined, I suggest you pay off your debts as fast as possible. This strategy that the Andrews suggest is only for people who have the discipline to invest the money they borrow to make more money.)

Let me give you a simple example to illustrate this point. One of my investors has a line of credit on his home. He opened a line of credit for $40,000. He is paying 5% interest on it. He invested his money on a deal that makes him 12% interest per year. 5% x $40,000 = $2,000 per year while 12% x $40,000 = $4,800 per year. That's a difference of $2,800 per year. Moreover, since he is based in the US, the IRS allows him some tax deduction on his $2,000 interest payments - since this is interest payments made on his house. Since he is a high earner and in the 30% tax bracket, he gets an additional 30% x $2,000 or $600 from Uncle Sam. Yes, he has to pay taxes on the $2,800 per year (at 30% that's $840) but his tax on it is offset by the $600 tax refund he is getting. His net tax is only $240 and his net after tax profit is a whopping $2,560. How many of you wants to make an additional $2,560 per year by just signing a few pieces of documents?

What if you can invest 10 times that amount, or 20 times that amount? Impossible you say? This is what my first millionaire student Bobet Cabuang was able to do and still doing right now. He borrows money from investors and gives them 12% return per year. He then lends the money at 4% interest per month in his private lending business. He ensures he is able to collect the money he lends because he works with the HR department of the companies his borrowers work for and arrange to automatically deduct their monthly payments from their paychecks.

Arbitrage is what helped Bobet became a millionaire in just ONE YEAR. Unconventional wisdom has made him rich. Now - do the same.

dedicated to your success,
Trace

We Missed Our Flight

2009-12-21T09:04:00.001-05:00

My wife was angry at me. We missed our flight because of my fault. I set the alarm too late. I figured we should have enough time to get everything ready and I did not want she and I to wake up too early (it‘s more of me not wanting to wake up too early). But no matter how fast I drove, I couldn’t catch up with lost time. We were actually at the airport 20 minutes prior to departure but I underestimated the time it takes to go through security.

This could have been avoided had I followed my wife’s request (more of a command). We were flying to New Mexico - to her aunt as part of our yearly Christmas tradition. She knew what she needed to do to get everything ready for our flight and she knew the amount of time she would need. But I deliberately delayed the alarm because I want to have 1 more hour of sleep.

This reminds me of what I heard from a teleconference I attended earlier last week. Tim Ferris - author of “The 4 Hour Workweek” said that life is too fragile and so his message is: live your passions now and don’t delay it. People assume that they will live up to 60+ years old and so they delay the important stuff. They delay living their passions because they figured they have until after they’ve paid off the house or sent the kids to college to do so. But sometimes, they don’t even manage to live in their 40s. Our valedictorian in high school died of a heart attack when he was only 25 years old. Another smart classmate of mine died at age 30 due to meningitis.

What’s the connection between us missing our flight and some people dying too young to live their passions? Procrastination. I set the alarm a little bit late so I can have a little bit more sleep. If you’re not living your passions now, you’re basically asleep. You’re procrastinating. You’re delaying living your passions because you want the comfort of living your life just like everybody else. You want to sleep for 1 hour more.

My advice? Jump out of bed and start living your passion now. Even though you think you cannot afford it. You’ll figure it out. The world does not need you if you’re not going to play the game of life with everything you’ve got.

The good thing was even when we missed our flight there was another flight. We almost did not make it. Good thing there were exactly 4 seats open on the next flight - just enough for me and my family but had there been none - would have to wait for the flight next to that.

The next year is coming. It’s another year. It’s another chance. It could be your last year to live your passions. It’s time to play full out and accomplish your goals. How do you live full out and accomplish all your goals?

While I was on the plane (as part of our trip to go to New Mexico to celebrate Christmas there), I read a story about losing weight in a most unusual way. Here’s what’s unusual about this: More and more people have become successful at losing weight by betting. They bet against their friends or even people they don’t like - such that if they don’t lose the weight they promise or commit to, they put a big chunk of cash at risk. One example is the story of Josh who committed to a goal of losing 50 pounds in 48 weeks or roughly 1 pound a week. He submitted this goal to a website called stickK.com - a website that help people achieve their personal goals through putting up a bet. Josh’s commitment is to lose 1 pound a week and if he fails he will donate $21 to the George W. Bush library. Josh is a Democrat and he of course does not like Bush. Josh’s weight dropped from 206 pounds down to 188 pounds and he only missed his goal (so far) in 3 weeks (so he donated a total of $63).

Making a true commitment to your goals and making yourself publicly accountable - is the key to playing full out and accomplishing your goals. Stop playing it safe. In my student/mentoring program, one of the things I make my students do is make a commitment in front of other students of the goals they set for themselves. They also have a self-imposed penalty if they don’t do what they promise and a reward if they do. The penalty and a public commitment compels them to work very hard to accomplish their goals.

What about you? The year 2010 is coming. Stop making New Year’s resolutions. These are lame stuff that don’t work. Instead, put up a bet and make it big against people you mastermind with or other beginning real estate investors. For example, if you have not acquired a real estate deal even after buying books and attending seminars, maybe it’s time to put up a bet and make it a BIG one. Make the bet even with someone you don’t like. Say you have a skeptical wife or husband who does not believe that you can become a real estate investor. Put up a bet. Make it public. Write a blog post in http://BuyFirstdeal.com about this bet. Let’s say your wife likes shopping and you don’t. Maybe the bet is a $1,000 shopping spree if you don’t acquire a deal in the next 90 days and you will even accompany your wife to shop for 3 full days. Make the monetary commitment (or bet) a BIG one - something that hurts. Make a public commitment by announcing it to the over 1,200 members of BuyFirstDeal.com. Make it hurt even more if you don’t accomplish it by betting with someone who is skeptical that you can do it.

If you do all three - you will have no choice but accomplish your goal. Do this for all your goals and you will accomplish all of them. Stop playing it safe. Life is too short. 2010 can be your last year…or January can be your last month or next week can your last week… Who knows? The next flight could be cancelled altogether.

Be bold and commit. If you do, I bet you $100,000 you will succeed.

Dedicated to your success,
Trace
P.S. If you like this blog post you will love BuyFirstDeal.com (membership is totally free!). If you’re already a member of BuyFirstDeal.com then forward this blog post to all your friends (who are not yet members) who are interested to know how to make 2010 the year they become prosperous. Tell them to stop making lame New year’s resolutions!

How Maria Sold 3 Houses in 27 Days

2009-12-13T20:56:00.002-05:00

Trace: I am so excited to interview one of my best students. In just 27 days, as part of the $100K in 100 Days challenge, she managed to acquire and sell 3 houses. Wow. In just 27 days. Her name is Maria Senger and get this folks...she is living near Detroit Michigan, one of the worst places to be doing real estate today. So Maria, tell us more about each of these deals. Let's start with house #1. Where and how did you find it?

Maria: These houses I sold are part of a list from a hedge fund company that I was able to get connection with. I responded to an ad in craigslist and thru this they gave me a list of properties to sell. I told them I am a wholesaler and I would like to help them find buyers. House #1 is actually very far from where I live - about 3 hours drive. So I really do not know anything about the property.

Trace: How much repairs does it need and how much did you sell it for?

Maria: I did not see the house - no idea of the repairs. I sold it for $14,500.00

Trace: How long did it take you to sell this and what did you do to sell it so quickly?

Maria: It took me 3 days to find a buyer. I looked at ads on craigslist where the property I am selling is located. I saw some ads that gave me an idea that the seller must be an investor. They have ads that says "Newly renovated..." I send an e-mail to these people (I think about 6 of them). Only 1 replied to my e-mail and he went to inspect the property on that weekend. The following day he made an offer and of course I countered offer and negotiated with the seller also so I get a profit of $2,500

Trace: How about deals #2 and #3 - just give us an overview - how much did you buy them and sell them for? Did you inspect both or not and what marketing did you use to sell them?

Maria: On deal #2, I inspected this property and took photos. I was able to sell it for $18,000.00 with again a $2,500 profit. I marketed this online only (I got lazy, I must say) for about 2 weeks. I had a buyer that backed out but I had actually 3 buyers in line for the property so as soon as the 1st buyer backed out, I called the backup buyer that has the highest bid and she closed on it in 1 week. If I had not been lazy, I would have found my buyer faster because the buyer actually lives in the same street and they are looking for a home for their son. If I had put out signs out there, she would have found this property for sale easily.

On deal #3, again this is a property that I have not seen because it is far. I sold it for $15,000 with a $2,000 profit. Again, I used craigslist to market the property. I've put an ad that says "Investors/home buyers I need your help - must sell ASAP". Within days of putting this ad everyday, I had my first buyer who inquired and went out to inspect the property. He was the first who inspected and made an offer and closed in less than 2 weeks.

Trace: Wow. I am impressed. It took me 5 years before I developed the systems to allow me to buy a house without seeing it and then sell it - using eXtreme Marketing. This is just your first year in the business.

Maria: I did not know I could sell houses without inspecting them.

Trace: So what have you learned from these 3 deals? Give me your top 3 learnings.

Maria:
1. It is possible to sell houses without inspecting them myself. It should not be a reason for someone to hesitate to market them.

2. Online marketing works - with the right message.

3. Perseverance, diligence, courage and action pay off. If I did not take the courage to contact this hedge fund company I would not have any houses to sell. At first I was hesitant to market the properties that are far, but with perseverance and diligence I was able to sell some of them.

Trace: Great. If you can do these deals all over again, what would you do differently?

Maria: I would have negotiated something higher for a better profit. On deal #2, since it's near my area, I would have marketed using signs, then I would have found a buyer quickly.

Trace: Can you leave our readers with a few words of advice that they can use so they can start investing in real estate?

Maria: If you have any doubts or hesitation in starting your real estate investing, I think the best remedy is accumulating knowledge and then applying that knowledge - that is - taking the right action that will ultimately lead you to making deals. Also, having a mentor would also be a great help, as I know based on experience, when you are out there doing your deals, you have questions on what to do next and your mentor, like Trace, will definitely be a great help.

Trace: Well said. Thanks for your time...and let's make more money (lol).

(NOTE: Maria forgot to scan the check on Deal #2.
Also the above results are NOT typical of the readers of my book "Think Rich Quick". It is estimated that 97% of beginning real estate investors quit after 89 days without buying a single investment property - and that is probably the typical result even for the readers of my book. I am adding this disclaimer to abide by the Federal Trade Commission's New Guidelines About Testimonials)

Wealth Advice from a Trillionaire

2009-12-06T11:00:00.000-05:00

If you've been following my latest Forum posts in the website - BuyFirstDeal.com, you would have read my "Wealth Advice from a Trillionaire" daily series. I am copying my introduction and first 2 posts here in case you're not a member of BuyFirstDeal.com yet (nothing to buy - just pure education and inspiration):

Introduction
My friends,

I want you to be my co-authors. I am writing a book. It's going to be an interactive book. It's going to be a book I am going to write daily...with you. It's a book we'll write together for one whole year. And it's going to be an experiment. We will track our wealth and our income as we listen to a Trillionaire.

Trillionaire? Who is this Trillionaire you ask?

It's King Solomon, the richest and wisest man who ever lived. Steven K. Scott said his life changed in 2 years after reading King Solomon's advice in the Book of Proverbs. Steven barely earned $18,000 a year...now, he earns $7 Million a year.

Everyday, we'll read the Book of Proverbs together. I will write the passage that moved me that day. I will write what I learned from it. I will also write the results - what happens when I follow the advice...and even what happens when I don't. Because...sooner or later, I too will stray from the path and will not follow King Solomon's advice...because they're too difficult. But help me stay on the path. Help me to follow the advice from the world's first ever Trillionaire.

Write your thoughts. Inspire me. Apply what you will learn and share it with me...with everyone. So everyone will be inspired.

This is how we'll go on a journey to create a million, Millionaires worldwide. What better mentor to have than King Solomon. Are you with me?

If so...let's go!

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December 1, 2009: Read Proverbs 1
"Listen! Wisdom is calling out on the streets and marketplaces, calling out loudly at the city gates wherever people come together:..." - Proverbs 1:20-21

How will you apply this in wealth building?
You need to understand your market. Whatever product you sell, whether it's real estate or a lotion, potion, gadget, widget, or information...understanding or having wisdom about your market place is crucial for success. I made this mistake when I started investing in real estate. My very first rent to own deal is an expensive home ($235,000) and I was trying to rent it out for $2500/month. It took me a while to rent it out. I got so many calls because of my marketing but it seemed it took forever to find a suitable tenant/buyer. It took me 3 months to find my first deal and now it was taking even longer to get it sold. I eventually sold on a rent to own after 6 months to a tenant/buyer for a rent of $1,995/month. I had no cashflow from that house and the only profit I made really was the non-refundable earnest money deposit and the tax savings. I made $10,000 on my first deal but it took me 15 months and a lot of hard earned lessons.

Had I read King Solomon's passage above when I started, I would have done things differently. I would have studied my market and found out which price range is selling or moving or getting leased quickly. I would have found in that area the "hot" price range is between $100,000 to $170,000. I would have leased that house on a rent to own in 2 weeks - which was precisely what happened in my next rent to own deal in that area. In fact, on my second deal...I made an average of $300 a month cashflow and my over-all profit was $34,000.

My Trillionaire Mentor's Advice for today is: LEARN YOUR MARKET. Listen to it and heed its advice, wants and needs. If you do, you will make money.

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December 2, 2009; Read Proverbs 2
"...beg for knowledge. Beg for insight. Look for it as hard as you would for silver and some hidden treasure." - Proverbs 2:3-4

Knowledge and wisdom are more valuable than gold or silver. Why? Because with the right knowledge, you can make money on what you know several times over. I've met 2 landlords - let's call them Peter and Dave (this is a true story but I changed the names for obvious reasons). At the time, both were investing in real estate for about 8 years.

Peter does not know how to use leverage properly. That is, he is afraid to use debt as a means to acquire properties. He has 5 houses with no debt on them and he makes about $3,000 a month cashflow (after expenses). That's not bad.

But Dave learned how to use leverage - and he uses debt to buy big apartment complexes. Dave in 8 years have learned how to buy 2,000 apartment units using leverage and his cashflow is about $20,000/month. Dave is a multi-millionaire while Peter is not.

Dave has learned how to use leverage or good debt to make him richer and richer while Peter avoided debt at all costs. Peter never bothered to get the wisdom or the know-how on how to use debt properly. Peter never paid for a seminar to learn how to buy apartment buildings. He was comfortable with houses. His lack of knowledge in 2 areas (leverage and investing apartment buildings) has cost him millions of dollars in lost opportunities and the sad part is - he does not even know it.

How about you? What knowledge or wisdom are you missing that is keeping you from becoming a real estate millionaire? Are you seeking this wisdom as you would seek a hidden treasure?

My Trillionaire Advice for the Day: read books, attend seminars and seek out mentors to help you become more knowledgeable in exit strategies that will make you richer and richer. Invest good money in your education because the knowledge you will get will pay dividends for many years to come.

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dedicated to your success,
Trace

"How" Thinking

2009-11-29T09:41:00.001-05:00

Can I tell you a true story? If you learn and apply the lesson in this story, you will become a millionaire...I guarantee it. Here’s the story...

Efren Penaflorida should have quit even before he got started. He felt a longing in his heart to teach street kids, kids who are too poor that they needed to work to survive. These kids rummage through garbage to find things they could sell. These kids most of the times, become gang members...again just to survive. Efren himself grew up in these neighborhoods and he himself was bullied by these gangsters.

Efren wanted to teach these kids how to read & write but he didn’t have any money. If you don’t have any money to buy supplies and build a classroom, how can you teach? How about teachers? Where can you get teachers who will dare go to these dangerous neighborhoods risking their lives so they can reach these children most of who don’t want to be educated in the first place?

Efren was crazy. His dream was even crazier. He should have just gotten a job as a regular teacher teaching in a regular classroom..you know...be normal just like everyone else. It would have been easier. It would have been comfortable. It would have been convenient.

But good thing he did not quit before he got started. Good thing his crazy dream inspired him to pursue it even though it was not comfortable or convenient. Because...Efren dreamed and did not quit until he realized his dream...1,500 street kids received education. 1,500 kids now know how to read and write. 1,500 kids are now no longer gangsters and are now productive members of society. 1,500 kids - have been saved from drug addiction, physical abuse...and a lot of them are alive...precisely because one man...did not quit on his dream. And these 1,500 souls can now dare to dream as well.

Efren’s work so impressed CNN he got nominated for CNN Hero of the Year...and he won.

Good thing Efren did not quit even before he got started.

But alas, most people don’t even try when they encounter a barrier or challenge in their minds. They just quit. I call them “premature quitters” - because they quit even before they start.

For example, a lot of people email me wanting me to mentor them. When I offer them an opportunity to get a home study course or my mentoring program...they just quit when they realized they couldn’t afford it.

At the same time, I encounter people who are dead broke or close to being dead broke and they somehow afford my home study course or mentoring program (if you think I am selling you these programs, you’re mistaken - these programs are now closed - you can’t get them, you can’t buy them from me even if you can afford them!). They ask themselves “How can I afford it?” and the answers lead them to get money from places they never knew existed. They become creative...and they get results. They succeed even when it’s impossible to do so.

Just like Efren.

Problem #1: No money to build a classroom. Efren asked “How can I teach kids without a classroom?” He came up with a push cart to carry his school supplies including the stools/chairs. Since those kids won’t come to the classrooms, he might as well bring the classroom to them in a mobile kind of way.

Problem #2: No teachers wiling to teach in these slums. Efren asked, “How can I get people to teach these kids?” He came up with the idea of getting volunteers specially people from these areas to help him. He even got ex-gangsters to help him teach. Of course in the beginning, I could imagine him doing all the teaching all by himself. But when people realized that he was on a sincere mission, he got volunteers from all over helping him out. In fact, since he started teaching kids via his push cart school system in 1997, he got over 10,000 volunteers to help him out.

Of course I probably oversimplified how Efren solved these problems and challenges. Of course it was probably a lot harder and there were times that Efren was tempted to quit.

But unlike 99% of people who quit even before they start pursuing their goals and dreams, Efren did not quit prematurely. Instead he asked himself the most powerful, one syllable word in the English language...the one word antidote to premature quitting - the word “How?”. That one syllable word has created all the millionaires and billionaires throughout history. That one syllable word has created successes out of failures. That one syllable word has brought about all the inventions we cannot live without like the airplane, the telephone, the computer, the Internet and so on.

That one word has made insanely impossible dreams into realities.

What about you? What are your dreams and goals? Have you quit prematurely? Have you asked yourself “How?” Really...have you asked yourself “How?”...and have you taken the time to think things through? If not, it’s time to do so. You’ll be surprised by the ideas that come to your head. Try these solutions out. If they don’t work, think and ask yourself again “How?”. Then approach things differently. In my blog post last week, Steven K. Scott, author of “The Richest Man Who Ever Lived” called this process “Creative persistence”. I call this “How Thinking”. It’s a powerful process. It will make your dreams come true.

dedicated to your success,
Trace
P.S. Do you want to learn how to get started in real estate without using any money, or going to the bank and getting a mortgage? I recorded a 90-minute webinar to explain HOW. Click HERE: http://rec1.dimdim.com/view/dimdim/15ff8e4c-1ce9-102d-9515-003048642bd7

P.P.S. If you’re not a member of http://BuyFirstDeal.com - you’re missing out on a lot. There are over 500 blog posts and videos AND over 1,100 members all over the world who can help you in your real estate business. Membership is totally fr’ee.

How to Stand Before Kings

2009-11-22T16:56:00.002-05:00

I am reading a book written by Steven K. Scott entitled “The Richest Man Who Ever Lived”.

Steven got fired again from his 6th job in 4 years and that was when he met Dr. Gary Smalley. He pleaded Gary to tell him a way to get out of this rut. Gary told him something profound – read the Proverbs of the Old Testament – written by King Solomon – the richest man who ever lived. There are 31 chapters – read one that corresponds for the date of the month, and do this for the next 2 years.

This is what happened to Steven Scott before and after receiving (and implementing) this advice:

Before: earned less than $18.000 per year
After the Advice: now earns over $7 Million per year

The advice truly worked and continues to do so today. King Solomon is the richest man who ever lived – richer than Bill Gates and Warren Buffet combined. I would probably even dare say that King Solomon is the world’s first TRILLIONAIRE.

Do you want to earn millions specially in real estate investing? Steven Scott said that according to King Solomon there is ONE common trait among successful and wealthy people. That trait is DILIGENCE. Steven helped elaborate what King Solomon meant when he said ‘diligence’. To be diligent, you have to do three things:

1. You have to have creative persistence;
2. You have to work smart and plan right; and
3. You have to execute in a timely, effective, efficient and excellent manner.

Creative Persistence
My millionaire mentor in network marketing – Eli Dafesh – is one of the most persistent person I know. I told him several times I was not interested in network marketing. He persisted in following me up. He used several creative techniques to convince me to get on board. I think he called me 9 times over the course of 2 months. There were times I didn’t want to answer his calls. His persistence is bordering on being a pest. But you know what – I thanked him for his persistence. I thanked him because when I’ve realized what he is offering me and the potential of the business he presented – I couldn’t help but thank him. (If you want to be a millionaire network marketer, email me at MoneyYoda@Gmail.com)

It is said that 97% of people who join network marketing opportunities as well as real estate investing quit in just 90 days. Most people don’t have the persistence of an Eli Dafesh – and this is the reason why most people won’t make SIX FIGURES every month like him. My mentor made $3.5 Million in just 3 years. DO you want to make the same if not more? Then you have to be persistent. If you encounter an issue, don’t quit. Ask yourself “Have I given this approach 110% of my effort?” If the answer is YES and yet you did not get your desired results – then ask yourself, “Why did my first approach NOT work and what approach will work?” If approach 2 does not work again, try another approach and then another, and another until your crack the nut open and get what you’re aiming for.

Work Smart and Plan Right
Working hard is overrated…you can chop down a tree with a hammer and work really, really hard…and yet it will take days to accomplish your goal. However, cut it with a chain saw and it will take you minutes with a lot less effort. What about you? Are you still trying to acquire your first real estate deal or you have not made money on real estate just yet? Maybe, you’re using a hammer to cut down the tree. Maybe you’re using the wrong approach to succeed in real estate investing? Maybe it’s time to step back and ask for help. King Solomon said, “Plans fail for lack of counsel, but with many advisers they succeed” (Proverbs 15:22).

I encounter many people who are too arrogant to seek counsel, to seek advice (I can relate – I was one of those people). They think real estate investing is easy. They think they can just buy a property, rent it out and they’ll become a millionaire automatically. Well…if you’re one of those folks, you’re IN for a rude awakening. You need mentors and coaches to help you succeed in real estate investing. Their advice is worth its weight in gold.

For instance, one student of mine offered to treat me to lunch and pay me $250 for my time so I could review a deal he was working on. In the first 15 minutes after I looked at his deal, I told him his offer was $250,000 more than what it should be. Imagine that – my advice has saved him $250,000. No wonder King Solomon writes “Wise men store up knowledge but with the mouth of the foolish, ruin is at hand.” Had my student done that deal, he would have been quarter of a million dollars in the hole and would definitely be ruined.

Once you seek out the counsel or advice of mentors and coaches, you need to plan. Failing to plan is planning to fail…and yet I see a lot of people spending more time planning their vacations than planning their investments. Right now, I am offering a free 30 minute consultation so I can help you plan the next year right. Guess how many people took me up on this free offer? Three….despite the fact that this offer was open to THOUSANDS of members of http://BuyFirstDeal.com. No wonder only 3% of people succeed in real estate investing!

Execute in a Timely, Efficient, Effective and Excellent Manner
Execution is where the rubber meets the road. Once you know what you need to do, then you have to do it as if you’re doing it for a King. In Filipino, “Hindi pwede and pwede na.” (It’s not good to say “That’s good enough”). In your job, if you have one…if your boss is the President of the United States…or the Pope (in case you’re Catholic), how would you do your job differently? If you’re already in the real estate business and say your partner is Donald Trump, how aggressive and persistent would you be when you’re selling a property? How would you plan and execute your marketing if you’re in the Apprentice show and you’re applying to become a CEO in one of Donald Trump’s businesses? If you’re in the Philippines, how would you negotiate with sellers if you’re directly working with Ayala, the multi-billionaire real estate developer?

If you will work a lot harder, execute with excellence with Donald Trump or President Obama or the Pope or Ayala as your boss or business partner, then start working harder and execute with excellence NOW…regardless of your boss or business partner. King Solomon writes, “Do you see a man diligent in his business? He shall stand before kings – Proverbs 22:29.

And so…start becoming diligent right NOW. It does not have to be something BIG or profound. Start by waking up with diligence – immediately jump out of bed versus lazily starting your day for example. Make diligence into a habit. Put it into anything and everything you do. And when diligence becomes a habit, you will one day stand before kings.

Dedicated to your success,
Trace