Among other things, in this module we’re going to discuss how to properly structure your business for wholesaling and net listings using LLCs. First, let’s do a quick introduction.
As you might imagine, I love real estate; it has allowed me to build multiple businesses and travel to multiple countries on multiple continents, literally on a regular basis. Real estate is one of the best ways to create financial independence because when you buy and hold real estate properties, specifically rental properties, it allows you to build a solid foundation. When you flip homes, obviously it allows you to get cash windfalls upon the sale of a flip.
It’s obviously not the only way to invest though. Having all this property has allowed me to start a brokerage business, a title business, a real estate settlement business, a property management business, and an appraisal business. I even had plans to start a mortgage brokerage business but I pulled the plug at the eleventh hour. Good thing, because soon afterward Congress passed legislation that changed how appraisals were done. It would have put me at a significant disadvantage. I’m glad I followed my intuition because it could have been a sizable mistake.
The bottom line is real estate allows you to do a lot of things, not just build businesses. It basically buys you freedom. Remember, there is financial independence and there is financial freedom. Financial freedom is measured in time, not necessarily in dollars. In other words, the wealthier you are, the more time you should have available for doing the things you enjoy. Real estate allows you to do that. I’ve known people to pursue other dreams too. I’ve had clients who bought horse farms and now offer riding lessons and stable horses for other people. I know people who moved closer to the water to start paddleboard businesses, surf shops, fishing businesses, charter businesses, you name it.
The bottom line is if you have big dreams, you need to take appropriate action to pursue them.
Having a W-2 or 9-to-5 job is not going to get you there. It’s highly unlikely that you can realize any of your dreams if you work in a regular corporate 9-to-5 job. It’s just a reality. The sooner you accept it, the better. Entrepreneurs are the dreamers in this world. I think you should spend time everyday dreaming. If it wasn’t for the dreamers of the world, we wouldn’t be flying. We wouldn’t have computers or cell phones. We wouldn’t drive cars, and we wouldn’t go on vacations to faraway places previously undiscovered. Life is too short and too sweet to be a sheep. It’s the most precious gift of all. You should pursue it with vigor and passion. You’ll need to roll up your sleeves and get busy, but the thing is, it’s not a chore. It’s a passion.
I firmly believe God wants us to be happy not sad, wealthy not poor, healthy not sick. I believe it’s our duty to pursue what He has intended for us. What better way to do that than to be your highest and best self? Be a living example of a joyful life.
Make the absolute most of this precious gift. When you invest in real estate, you’re providing a good service for your fellow man. One of the greatest truths I’ve ever heard is from a guy named Zig Ziglar. He’s passed away now, God rest his soul, but he had a famous saying. “If you just help enough other people get what they want, you’ll be able to get plenty of what you want.” It’s actually scriptural in its origin. There are three basic ways to pursue investing in real estate and serve others through the process. The first is to invest in rental properties. If you want to learn more about this process, you should read Rental Profits without the Pain. Visit MyInvestmentServices.com or call 1-800-931-2605 for your copy.
Another option for investing is flipping properties. If you want to find out more about that, read Flipping for Profits without the Risk, also available at MyInvestmentServices.com, or by calling 1-800-931-2605.If you’re already a student, you get the books for free. In fact, you get a dramatic discount on the training courses too. I think it’s half off. Go get ’em while the getting is good. The third option is wholesaling. I prefer that eventually you do own real estate but if it’s just not in the cards right now for you financially, start by getting into wholesaling or get your real estate license. As a matter of fact, you should read Investor Agent: Make More Money Not More Work.
If you’re already in the investing game, at least leverage your activities so you also have commissions coming in.
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