Archive for REIC Testimonials

REIC Investors Share Their Experience: John and Diane

Jun 22 | by | REIC Testimonials, Testimonials
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“One of the fantastic benefits of the Strait Path system is the mitigated risk. With one of our investment properties, the buyer-tenants we had were unable to continue with the purchase of the home.

The down payment they had made toward the house was enough for us to cover just a couple of mort- gage payments, if it came to that. Luckily, we were able to find new tenants within the month, so we only had to cover one mortgage payment with that reserve down payment. The new buyer-tenants were able to invest even more to build immediate equity.

They have been fantastic and are making improvements to the home while working toward ownership. They are planning to attend classes to prepare them for successful home ownership. This system really reduces risk for everyone — including tenants.”

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.

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

How REIC is affecting the economy

Feb 16 | by | REIC Testimonials, Some food for thought
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A few weeks ago, Randy Davis, one of our employees, sent an email to Kris Krohn about his feelings about REIC and how he felt REIC was positively affecting the economy. He wrote:

I spoke to Kris Krohn the other day about how I felt REIC was affecting our economy. I feel that the work REIC is doing is directly affecting the local economy. Each time we bring a new member into REIC and they pay their membership, the work begins! They are taught simple yet effective strategies to help them change what they are currently doing to improve their financial outlook. Then, once they begin investing, additional monies are put to work in this economy to help members improve their net worth. Hundred of thousands of dollars are infused into the economy by refinancing and/or purchasing new mortgages. Banks are helped, loan officers, real estate agents, coaches, title companies, and property managers are employed to fulfill the needs of the investors/members. New jobs are created and dollars are put into the system allowing for car loans, house payments, groceries, medical bills, etc. to all be paid because REIC is stimulating this change.

Six new companies have been formed since the beginning, less than three years ago. Employees of these companies work hard for the investing members rendering important viable services to each REIC member. In addition, hundreds of families are provided housing at fair market prices and the results are that through an education process these home owners are taught how to repair their credit and budget their money so they can be more productive citizens in their communities. They become more self reliant and they are given opportunities to become investors themselves. In addition, members are encouraged to improve their lives through personal improvement programs and concepts. This also brings additional dollars into the economy, while improving the lives and the net worth of the members. Once an individual becomes an REIC investor, the opportunities are immediately available for improving their lives in these areas.

I mentioned that REIC investors are actively increasing their own individual net worths by hundreds of thousands of dollars. Within much shorter time frames than government or other typical investment means these investors can be totally self-sufficient, independent of government retirements, etc for their future well being. REIC has helped hundreds of investors get back on track to accomplish these things while simultaneously bolstering the economy.

Now that REIC has moved to a national focus, it can provide these opportunities to other people around the country and improve the local economies there. I have also witnessed REIC collecting hundreds of cans/pounds of food from employees, investors and seminar attendees to help the local food bank feed families. I am proud to be an employee and a member of an organization like this.

REIC Member Success Story: Rodney Beacham

Dec 2 | by | Cash Flow, Discount Equity, Down Payment, REIC Testimonials
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I grew up with Kris Krohn, and we attended BYU together.

I knew he was getting started in real estate yet, but I was cautious about anything “un-salaried” because my dad had been self-employed most of his life and had not had a steady income.

So after graduation, I started a full-time IT audit job in Seattle in April 2005. After one year I knew that would not produce financial independence nor would it satisfy all of my passions.

I contacted Kris and he said I needed to be in Utah in order for him to help me, so I avidly started looking for the right job, and finally I found something that fit and moved to Salt Lake in February 2007.

On the first day of training at my new job, Kris and his team had already found me the perfect home just 10 minutes from my work. It was in perfect condition, 5 bedrooms and 2 bathrooms (so easy to rent out to roommates), in a perfect neighborhood, etc.

It also had $40,000 of equity, but I didn’t know what that meant at the time.

I just knew the seller was desperate and was very grateful I was able to help them get out of the mortgage. An elderly couple, they had bought the home over 20 years earlier and had raised their children there. Unfortunately, the wife had fallen down the stairs due to her age so it wasn’t safe for them to have a multi-story house anymore.

So they had ordered a single-story manufactured home to be on leased land in a retirement community, and didn’t think to list their old home for sale until just one month before they were ready to move.

So their Realtor advised them to list their house really low so that it would sell quickly.

They listed it on Friday, February 16, and I put an offer on it on Tuesday, February 20 (Monday was President’s Day); by Wednesday we were under contract.

So I had it locked in for a good deal, before better offers could come in (which would take longer to close anyway since the seller was desperate).

The seller was very grateful I was able to lock in and close quickly, and even brought their grandkids over to trick-or-treat – we had a good relationship forever afterward.

At this point I didn’t know enough to really understand all the numbers or the REIC system. I just knew the seller was really happy because I was helping them, and Kris’ team told me I was getting a good deal.

Being single, I rented out the extra rooms in my house for at or below rent market rates, and was able to cash flow well above the mortgage payment, even while still living there myself.

I couldn’t believe I could actually be PAID to live in a house!

Later I bought a second home and repeated the process. The old roommates took good care of my house so I let them stay there (they’re still there now), and I got new roommates for my new house.

Again I cash flowed well above the mortgage. Between both homes I enjoy a passive cash flow of $700!

At this point I was ecstatic. I didn’t know everything about REIC, but I knew it was going really well for me.

I also knew the appraisals on both my homes were $20,000 – $30,000 above what I paid at the time I bought them, so I must be getting a good deal.

I had friends buying fixer-upper homes for $5,000 below appraisal thinking those were good deals, and so by comparison I knew I was getting an amazing deal.

That enthusiasm attracted partners – others inquired about my success and some requested to be my partners – so now I have three investment partners after just owning 2 homes.

That enthusiasm grew and grew, and I started introducing more and more people to REIC, and soon my job was getting in the way of my real estate passion, so I quit my job and started working with REIC full-time, and I’ve never been happier.

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