Monday, December 19, 2005

NO income, NO credit, NO transport & IRS problems...

Thanks for your questions at
http://AskSteveMajors.com- I read every one.

I answer as many as possible individually, however, as
several have a similar 'theme', I'm going to, on occasion,
answer them through this newsletter - it saves us both time,
and utilizes one of the most powerful tools in the universe
- LEVERAGE! (That's why it is the first letter in L.A.Z.Y.!)

Ok, here's the question for today...

Is it really possible to be successful in real estate
investing with NO income, NO established credit, NO
transportation, and IRS problems?

YES!

Thanks for the question....

Oh, the other part of that - the 'What do I do about it?'
part.... ;)

Well, that one is simple, too...

In fact, it is similar to the situation I was once in when I
was starting out in real estate investing.

So, I'll go through it for you, step-by-step, just like I
did for myself...

If you have 'no' money, the first thing to say about
that is - if that is true, how do you eat?

You see, that is one of the most important
things you can do to get started - be honest with yourself
and take a serious look at your current situation.

If you are serious about real estate investing, you simply
must understand that the world will not give you a living,
nobody will be your 'daddy' and certainly the government
isn't going to make it happen for you.

Now, I know, this is a bit harsh, but that's the reality you
have to face - there ain't no free lunch anywhere and until
you look that truth in the face, you will never be
successful in anything - certainly not real estate
investing.

By now, you are ready to begin the journey with strength and
truth, have stopped reading or found the link at the bottom
of this email to get off my list.

You have made a choice, which ever way...

For those that are still with me, know that there is no
'sugar coating' in this message! (to take a phrase
from a movie - "There ain't no crying in real estate
investing!")

So, here's the step-by-step plan to move from a situation
where you have little income, no credit established, no car
and IRS problems...

1. You've already conquered the toughest one - facing the
truth that you are the one responsible for your own actions.

Congratulate yourself for this (yes, go to the mirror, right
now and tell yourself "Congratulations! You understand that
you are the one responsible for your actions!")

2. Start profiling properties for other investors.
You have taken the toughest step (you did #1 completely,
didn't you? If not, DO IT NOW!)

You aren't quite ready to take on a deal by yourself - yet.

So, begin your journey by finding deals for others.
The Lazy Investor's Guide to Property Profiling
http://TheLazyInvestor.com/products.html#PPS is perfect
for that - in fact, it is exactly what it is designed for!

3. As you begin to make money profiling for others, don't
spend it! (hey, you were living without income before -
stick with that, for awhile - it will pay off soon!)

Put that cash away in a safe place (a bank account would be
good - put it in a debit card with a major credit card logo
- that sureh does establish credit FAST!

To skyrocket your credit, take the steps detailed in
The Lazy Investor's Guide to Raise Capital,
Build Credit and Wipe Out Debt
http://TheLazyInvestor.com/products.html#Credit

4. Continue to look for deals for others, but now that you
have a bit of cash, you can also look for other deals for
yourself. One of my favorite things to do with a bit of cash
is to work Lease Purchase deals.

Now, they don't always require it, but you will find a lot
more to work if you put a small amount down (I'm talking $10
or $100 most of the time - which is the legal minimum in
most states).

Depending on the deal, you might put $1000 on it.

Go to http://TheLazyInvestor.com/products.html#LP for more
on how to make tons of cash from this powerful tool (yeah,
it is my absolute favorite!).

5. Now, you are on your way! Making all the deals you can
for yourself and selling off those you can't to other
investors, you are making plenty of income to begin taking
on even bigger deals.

The Lazy Investor's Guide to Real Estate Investing
http://TheLazyInvestor.com/products.html#RE is the right
thing for you. You will begin making more creative deals,
with more cash staying in your pocket.

That is what you want, isn't it?

That's it for now on this question - oh, as for the 'no car'
and 'IRS troubles' part...

After you make some cash, buy a bicycle, then a scooter or
something, then a car - to really start, you may have to
actually WALK around to find deals at first...

If you don't like that answer, re-read #1...

IRS problems - you got yourself into them, do what it takes
to get out of them! Use some of that cash you are making to
pay off the bill and get on with your life!

You can often negotiate with the IRS to either get a
payment plan or drop the total bill. You might want to
check out The Lazy Investor's Guide to Sales, Marketing and
Negotiation
if you need skills in this area.

Do this, or choose to live in fear and hiding the rest of
your life...

If you don't like that answer, re-read #1...

OK, I'm done on this one - more later....

Happy Investing,

Steve Majors - The Lazy Investor

P.S. Do you have a friend that needs to hear this for
themselves? Pass this message along!

P.P.S. This isn't all I have to say about this subject (or
many others you have asked about), so stay tuned... In the
meantime, why not check out all the tools you need to
make real estate investing happen in your life...

No comments: