Great Starting Concepts For The New Property Investor
Monday, September 7, 2009 12:12In his interview with me, John Paul Moses, who owns of our Local Memphis Stockholders Group, was prepared to give us some tips about the way to start as an estate banker.
After reading Rich pa, Poor Dead by Robert Kiyosaki he seemed to make a decision to start as a property banker. The book says to try this you want some preparation, so he went to the Net and stocked each bit of info from the articles, reports groups and debate forums. By that time he started a long-term fellowship with Matt Scott who runs a great Internet site called dealmakerscafe.com. That’s how he learned the meaning of the word escrow and what the difference was between a mortgage and a trust and property basic language. The web could be one learning ground. Should you buy an estate course you have got to be extraordinarily careful. The first course John Paul bought was in his opinion the worst property course and never did a deal from info gained in that course. But at least he learned property language and spending $400 on that course proved to him that he was prepared to take a position in his education.
At their first meeting they were about sixteen folks. He stood in front of those folks enlightening them that he never done an estate deal but he was there to learn and ensure that they’d those conferences. They required a leader and he took the drive of being their initial president.
Since that time the organization grew to over five hundred members. Now they’re a full fledged non profit property bankers organisation with over 150 members in the Memphis area and since 2002 John Paul has been an estate investing guy. He stepped down as the president and he’s now serving as the executive director of the group. So, what you have to do is to select only those galvanized folks and build yourself a great network of successful folk to work with and the financier groups are great places to find those folks. His recommendation for someone that’s trying to find the structure of an investment group in another city is you must join the nation’s property investment organisation, you must get tiny groups of folks together and join the nation’s REIA ( www.nationalreia.com ).
They serve as an umbrella organization that supports the local REIA group. You want to know what your resources are and just capitalize the expenses or hard or private money in that part of the deal. That is the 2nd thing John Paul recommends for everyone who wants to start a group : model yourself, don’t try to work out on your own! Another thing an individual should do is get those magnetic We Buy houses signs for their automobile. For John Paul they were worth the $87 investment as they brought him $12,000 profit from transactions altogether on wholesale deals. No-one should be embarrassed of using them on their cars as the person who’s embarrassed is letting money go by. John Paul’s piece of recommendation for the new property financier is to not to be afraid to act, do not let yourself become hamstrung by fear and over-analysis. You have to take some time so do not sweat.
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To Our Success,
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