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“Further,” good friend of mine, “the interest you pay on your down payment loan is provable and tax-deductible because the money is being used for business purposes! So forget the interest cost. Get the loan you need and start building your real estate fortune!”
Your Real Estate Wealth Schedule
You can get rich in income real estate! How do I have the right to say this to you—my good friend? I have the right to say this to you because
thousands of readers call me on the phone, write letters to me, e-mail me, and fax me to tell me they are getting rich using the methods I suggest to you in this book.
Put succinctly, I have proof, voluntarily supplied, that people—just like you and me—are getting rich in income real estate today.
But to get rich in income real estate today you must plan, and schedule your future. Here’s a suggested Real Estate Wealth Schedule for you. Use this schedule:
• As given, with no changes.
• With changes to suit your needs.
• Or throw it away, after using it as a guide to prepare your own unique schedule.
But no matter what you do, use it—for your own benefit!
Your Real Estate Wealth Schedule
Your Starting Date
Action You Will Take Timing of Your Action
1. Learn all you can about income Next three months.
2. Start looking for money for One month from now.
your future income real estate.
3. Look for suitable income Two months from now.
property to buy.
4. Find my first acceptable Three months from now.
income property to buy.
5. Make a bid on my first income Three and a half months
property to buy. from now.
6. Buy and own my first income Four months from now.
real estate to earn money from.
7. “Get comfortable” with my first Six months from now---
income property from a business allow two months to
standpoint---rents, maintenance, etc. “get to know” my buy.
Save Time and Build Your Real Estate Fortune Faster
8. Report your success to your author by any means you choose.
9. Start looking for my second income property to buy.
10. Buy and own my second income property.
11. “Get comfortable” with your second income property.
12. Sit back, relax and enjoy your first year in income real estate while you look ahead to your future in the real estate business.
So here we are at the end of your journey, with me to put you on the road to real estate riches in income property. And to give you one final proof that you really can get rich in real estate today, here’s a faxed letter I received while writing this chapter. It summarizes for you, I think, everything I’ve been trying to tell you throughout this book, and serves as the basis for your Key Ideas for this chapter:
From Borrowed Down Payment to Millions in Real Estate
“This letter is a follow-up to the telephone conversation I had with you this morning regarding property/real estate investing. I want to give you (and your readers) a background of how I started in real estate with no money.
“My parents divorced when I was 12 years old, which was not a good situation, but it happened. I started working at the age of 14, mostly after school, and held two jobs. The harder I worked, the more money I made. But the more money I made, the more often my car broke down and my school bills grew.
It was never-ending!
Six months and one week from now.
Seven months from now.
Eight months from now.
Ten months from now.
Twelve months from now.
“When I got to college I worked as a waiter at two to three restaurants each week. At the age of 24, still working as a waiter, my step-grandfather, with whom I was living, became ill and his family sold the house. So I had to find a place to live.
“I had less than $500 in my checking account, and one credit card with a $5,000 line of credit on it. I was working as a waiter at a large hotel in the morning and at night as a waiter at a fine dining restaurant. I was making about $3,000 a month between both jobs, working 80 hours a week.
“My mom suggested I buy a condo to live in. I thought ‘I can take a cash advance on my credit card and make payments from my income.’ So I called my credit card bank and asked what the payment would be if I took the entire $5,000 advance. After I explained what I wanted to do, the operator put me on hold. After a few minutes of waiting (which was well worth it) she said ‘Because you’ve been with us for 4 years and have a good payment record, I can raise your credit and cash advance limit to $10,000 and I can also reduce your interest payment by 4%!’