Archive for April, 2010

How do you Succeed when others fail?

Apr 14 | by | From the Coaching Corner, REIC Testimonials
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This is a question that I have asked myself many times. This is a question that I have asked many mentors in my life. This is a questions that I asked Jerry Kou. Jerry has been a client of REIC’s for about five months now. He just recently bought his first investment property. Being new to real estate, he didn’t know how to do it himself. He sought out a team of professionals who could assist him and teach him what to do. That is why he became a client of REIC, because of the system, team, and education they have provided to him.

There was one area that Jerry sensed some apprehension in. It was in executing a lease option. This is when we find a tenant to occupy the property using REIC’s compassionate financing program. Having never done this before, he felt anxiety, fear, doubt if it would work, but he also had faith, hope, and believed it could be done. He was willing to apply what he had learned from his personal portfolio consultant, and empowered himself with knowledge.

Once he had his home under contract, he started to market the property. He didn’t wait for someone to tell him to start, he just took the step on his own. He had 17 people view the home in two showings. He had seven of those fill out an application for consideration, and had three people begging to pay him between $4000 to $10,000 to move into his property. He called back the family who he believed would be best for the property to see it again. They arranged to meet at 10:00 PM. At that appointment, this particular family decided to back out at the last minute. Jerry didn’t become fearful, didn’t doubt, didn’t get worried. He immediately picked up the phone and told the next family that one had decided to not move forward on the purchase of the home. He asked if they were still interested. They made an appointment for the next family to see the home at 8:00 AM the next morning, had them sign their contract, and went to the bank that afternoon to pay him a $10,000 option payment and the first month’s rent for $1350. Jerry said, “That the hardest thing to do in the Compassionate Financing Program is deciding which deserving family will get your home.” He had his investment property under contract before he even closed on the property.

Why did Jerry succeed? He could have easily said that I cannot market a property I don’t own. I don’t know how to run an open house. I can’t call someone at 10:30 PM to see if they are interested in leasing my home. But he didn’t. He said I can do all of these things. Jerry was
1. Teachable
2. Had a vision of what he wanted
3. Applied the knowledge from his mentors
4. Empowered himself that it is possible.
5. Did not give up.
You to can succeed, just like Jerry has. The choice is yours. Will you succeed where others will fail? We shall see.

Why hesitate to be great?

Apr 12 | by | Some food for thought
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So many of us hesitate to be great, yet it is what we say we really want. The problem is that when what we say we want isn’t coinciding with what we are getting or creating then we should reevaluate if those two things are really aligned. The truth is, we are getting what we want the most. If I am sitting down and watching television rather work on a business plan, then that is what I want more. If I play on the computer rather than getting the message out about what my passions are, then I am obviously more passionate about spending the time on the computer. The trend that I have seen is that all too often we preach about all that we want in life and what we want to accomplish but are then unwilling to do what it takes to get it… we talk big, but then don’t have the drive to back it up. So the question that I have for you is:

When are you going to decide to break the pattern and do something different, something great?

• You are the one that will have to ask for your next raise.
• You will decide whether or not you will wake up early to get that job done or sleep in.
• You will decide on the goals you want to set and if you are going to achieve them.

If you don’t realize anything else I hope you realize this. No one else is going to do these things for you. So if you really want them, then go out and get them. Decide if these goals are higher on your priority list than those other things that you waste your time with, and then get to work.

Remember, It is always up to you!

2010 Annual Wealth Summit Approaching

Apr 9 | by | Announcements
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wealth summit 649x1024 2010 Annual Wealth Summit Approaching REIC is hosting the 2010 Annual Wealth Summit on May 6th, 2010.

At 6 pm, Kris Krohn, Founder of REIC, will be doing a book signing for everyone that comes. A signed copy of his book will be given to everyone that attends. The actual event will start at 7pm, where over $500 in gifts will be given out. We will also be announcing the winners of the free lakeside property. This is sure to be an exciting event. This event is open to the whole public. So be sure to RSVP to summit@reicglobal.com. We look forward to having you there.

Teaching finances at an early age

Apr 8 | by | Some food for thought
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2003827079 Teaching finances at an early ageSo we talk a lot at REIC about what to do for your retirement and the broken financial paradigm. A lot of people we come in contact with are already grown-ups! They have families, kids, grandkids and a few are getting ready to retire. We commend you for taking the steps to become financially liberated and for working hard with us to make a better life for your family and to put you in a position to help your community. But, when the day comes when your kids grow up, what did you teach them about money? Will they be as smart as you are now, with real estate portfolios and smart investments? What did they learn from your experience with REIC?

In the Education section of The Seattle Times, Jolayne Houtz wrote an article, “Teaching your kids about money.” Now, we don’t have a real estate for kids at REIC just yet, so the financial coaching for your children is up to you.  Houtz wrote, “there’s never been a more important time for children to learn about managing money. If Americans’ crushing debt loads and rising bankruptcy rates among young adults aren’t convincing, consider this: Many college administrators believe credit-card debt leads more to dropouts than academic failure.” YIKES! All that money you are putting into your kids’ college tuitions…think about it? Financial literacy isn’t something they teach in schools. She goes on to say that “parents are mostly on their own to tackle a subject that many find at least as hard to talk about as sex or drugs. Because that discussion isn’t just about dollars and cents. It’s about teaching kids values and personal responsibility.”

So, even though we don’t have a Real Estate Made For Kids program yet, we do have excellent coaching programs that train our clients in developing the right mindsets for investing and for life. Hopefully, what you learn with us, you can pass along to your younger generation.

Spotlight on Ben Wilson

Apr 7 | by | Real Estate, REIC Testimonials, Testimonials
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How did you hear about REIC/how did you get involved?

How we got involved in REIC is a pretty good story. My wife and I were in the market for buying our first home. We visited a home we were interested in, then went to a nearby park to let our toddler play and get a better feel for the neighborhood. While we were at the park, another young couple with a girl the same age as our own came to the park to play. I approached them to ask about the neighborhood and how they liked living there. They said that they didn’t live there either, but were just visiting friends. The man wondered why we asked, so I told him about our house hunt. We started talking about real estate, then real estate investing. He said there was a better way, and told us about REIC. Duncan Peterson invited us to visit one of the seminars. We liked what we heard and made the investment.

How has your experience been with the coaching program and actually doing real estate?

We haven’t done any real estate yet. We did invest in the Alpha REO pool. I think that our coach is still Trent Rogers. We had some meetings with him several months back as we tried to free up some capitol with investment condos we own, but the ball was left in our court as we figured out what to do. Since then we’ve tried to sell and/or refi our condos without any success, so we may be stuck renting them out for the time being. Perhaps when the market warms up again we’ll try to sell once more.

Why do you think that people should get involved with REIC?

#1 reason: REIC is made up of great people. Everyone that I’ve ever spoken with in the company is open and honest, cares about you, knows what they’re doing, and loves what they do. Its great to work with people like that. Whenever I leave the REIC office I feel uplifted. Now put on top of that the great investment opportunities, and there is no reason for people not to get involved with REIC.

How is REIC helping you accomplish your life goals?

We hope that the Alpha investment will pay off in the long term. Other than that, we’re hoping to eventually be at the point where we can do our first lease option investment in the coming few years. From there, we hope to accelerate our earnings. We still need to figure out our long term goals more concretely, but right now we’re just saving for a comfortable retirement – one where we’re not dependent on anyone else (including the government) for an income, one where we have month to month discretionary income, and one where we have the resources to bless other people’s lives.

Investment Property Purchased

Apr 6 | by | Discount Equity, From the Coaching Corner, REIC Testimonials
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I want to take a few minutes today and talk about my experience of purchasing an investment property with REIC. I started looking at homes with my transaction specialist and together we looked at at-least seven or eight homes. Some of the homes I just hated, some were ok and other REIC clients may like them but I personally didn’t feel like I wanted to buy them. All of the ones we looked at were found by REIC.

Being a little overly enthusiastic I actually searched on Craig’s list and KSL but about ever day with new properties that I thought were a great deal. Every single time, my transaction specialist would review the property and find some reason, that I couldn’t find, that showed me that it wasn’t really a great deal.

It really helped me to appreciate all that the research department goes through and how difficult it is to find a legitimately good deal. I ended up making four offers. One was a bit out of my price range so I made a low offer and it was rejected. Two were short sales and there were others with offers ahead of me… short sales are kind of a slow game. One of the offers was accepted!!! I had an inspection done on the house and it didn’t pass perfectly but the sellers were willing to spend a little bit of time bringing it up to our expectations.

I really liked the house. It had been completely remodeled inside so it had brand new carpet, paint, doors, windows, bathrooms, kitchen and even a brand new electric stove. To be hones my wife was a little jealous especially of the new windows and stove. We have pretty old windows on our house that let in a lot of cold air and she seriously would have swapped out the stove if we had gas hookups in our kitchen.

Obviously the coolest part is that the day I bought the house my net worth increased by thirty thousand dollars and it will continue to grow from this house from now till the time I sell it. Another cool part is that I will make money through helping people. It is such a great feeling knowing that I will actually help empower people and help them purchase the home from me rather than being stuck renting and never making any headway.

~Tony Purcell

Human Capital: Our most valuable asset

Apr 5 | by | Some food for thought
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My dad passed away almost a year ago, and the most memorable saying I will ever remember from him is “nothing is worth hard feelings.” As a politician, an ambassador, a lawyer, a banker, and a church leader; he never looked at the goal as more important than the people involved in the process. Somehow, he was able to live up to this near-impossible ideal, and I think the magic potion he used was emotional self-discipline. When we begin feeling pressure and are tempted to blame someone for it, or dump our frustrations on the people around us, stop and remember that there are NO insignificant people, ever. When we truly value each person as unique and worthy of our esteem, then we can develop the strength to express our regard, and solve the issues, instead of looking for blame. At REIC, our culture embraces this ideal, and as we learn to truly live it, the organization and its people are a joy to work with. Thanks, Dad, for being my ultimate example.

How will you change your financial destiny?

Apr 2 | by | Uncategorized
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Today I came across an article that talked about changing my financial destiny. I clicked and read a few paragraphs and was disappointed that there was no shout out to Miss Cleo “Call-Me-Know-For-Your-Free-Tarot-Card-Readin’” (by the way, as a side note – Miss Cleo was NOT from Jamaica she was from Los Angeles and she apparently made $13.5 million dollars doing this psychic hotline informercial!)

Anyways, what author Liz Weston wrote at the beginning of the article is mainly what I wanted to share:
“If you’re not where you want to be – personally or financially—maybe it’s time for a major life change. Little changes can add up. But sometimes they don’t add up to enough.

You can trim expenses, sell excess stuff and work a second job. But if you’re still not where you want to be, perhaps a much larger change is needed.
Maybe you need to get out of a dead-end job. Perhaps your whole industry is dying and you should consider a new career. Or maybe you’re living in the wrong place to get ahead or have a decent quality of life.

One thing you can be sure of: Your finances won’t change for the better on their own.”

For those of you who are familiar with the philosophies and mindset training of REIC, you’ll know that we teach a lot about taking control of your life, doing what you love, and liberating your finances. The Strait Path System provides you a way to make these necessary changes not just in your finances but also in other areas of your life including the spiritual aspects, relational aspects, emotional aspects, and intellectual aspects.

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