Real Estate Day Trading
Archives: Daily Issues
- WEALTHY: Making money in your pajamas (Steve Cook)
- HEALTHY: Why an apple a day really does keep the doctor away (Dr. Al Sears)
- WISE: Lee Iacocca on business
ALSO IN THIS ISSUE:
- A step-by-step checklist to help PLH get his business started (Michael Masterson)
- "Un-junk" your e-mails (David Cross)
- It’s Fun to Know… about toothbrushes
- Add "palliate" to your vocabulary
You Deserve Answers… And Now You’re Going to Get Them
If you haven’t gained the wealth you crave, you need to do something differently.
Why? Because all change, all progress begins with a single decision, a single action.
Are you ready to seize the final piece of the puzzle? The missing ingredient to coast you all the way to financial freedom? You deserve answers and now you’re going to get them.
In just 30 days from today your life could be in an entirely different place. Don’t delay.
- Patrick Coffey
In the end, all business operations can be reduced to three words: people, product, and profits."
Lee Iacocca
Real Estate Day Trading
By Steve Cook
Earning more by working less – I’ve always found this to be an intriguing and inspiring idea … and I’d be willing to bet you agree. But is it really possible? Today, I’m going to tell you how I "cracked the code" in my own business, and how you can use the lessons I’ve learned to enjoy your own "work less, make more" lifestyle.
My No-Sweat, No-Money, No-Keys Real Estate Business
In my real estate business, I hardly ever have to come up with so much as a dime to buy most properties. I have literally bought and sold the same home within five minutes, while sitting at my desk. And I’ve made tens of thousands of dollars without touching the keys to a property or writing a check.
It’s hard to say this without sounding boastful – but "the less I work, the more I make" concept has become absolutely, 100 percent real for me in my real estate flipping business. And not only for me, but also for a ton of other folks who, like me, have taken the time to really understand and apply the secret behind this deceptively simple idea.
The Two-Part Secret
You may be asking yourself, "How does this guy buy and sell homes without ever touching the house keys?"
Are you ready for this? It’s not that hard. It’s a matter of making use of leverage, plain and simple. Specifically, my leverage is knowledge + people.
The first part, knowledge, means getting to know your "target neighborhood" inside and out. The second part is the one that sets my business apart from that of most real estate investors – and enables me to make thousands of dollars without even seeing a property. It’s the people I refer to as my "deal network" – the people who bring me a steady stream of deals.
Why do these investors continue to feed me with potential deals, day in and day out? It’s because I have made it clear that I’m willing to do whatever I can to help them be successful – and because doing business with me as a partner is easier and at least as profitable as competing with me.
I told you about my deal network in my last article for ETR. Basically, the members of my network blanket the area with their own marketing. As a result, they come across a number of excellent deals. And because I offer them so much incentive, I usually get the first shot at all the choice deals they choose to wholesale rather than purchase themselves.
In case you’re not familiar with the term, "wholesaling" is simply a form of flipping. It means you quickly sell a property to another investor at a discount, rather than holding it and attempting to sell it to the wider public at full retail price.
My network knows the kinds of deals I’m interested in. And because I have invested my time and energy in helping them grow their businesses, they know they can trust me. They know I’ll never steal a deal from them, and I’ll never leave them hanging.
Buying and Selling Real Estate in Your Pajamas
Okay. I don’t actually work in my pajamas (most of the time). But if I did, I wouldn’t miss a beat. Here’s a quick look at how my business works…
When a member of my network calls me with a potential deal, I ask them to describe the property to me, including any repairs that will be necessary. Oftentimes, I’ll have them e-mail me a picture of it too.
Armed with that information – along with information from several websites on comparable sale prices – I can analyze the deal right at my desk. It’s sort of like analyzing a stock purchase. Like a street-smart stock market day trader, I’ve got the knowledge and connections to do my due diligence quickly, and then make a decision to buy or not to buy. If I decide to buy, I can e-mail or fax a contract to the seller.
Then I can turn around and sell the property I just secured… again, without leaving my desk. Via the Internet, I can communicate with other investors quickly and efficiently, and have a deal that I just picked up sold before I even settle on it. Usually, I make sales like these to investors who are ready to take on the rehabbing of a property and then sell it themselves for full retail price.
It’s simply back-to-back wholesale flips. First my, network flips to me – then I flip to a rehabber. If you think such deals would be few and far between… think again. In the past three months alone, I’ve done four deals this way, generating $121,000 in actual profits.
Not only is this a profitable way to do business – one that requires little to no money to get started – it is relatively safe. Since you’re not taking ownership of the properties, the risks are low, low, low.
If you decide to build a business similar to mine, realize that you may have to go to a closing now and then. But if you’ve taken the time to (1) know your target neighborhood inside and out and (2) build a strong deal network, you’ll hardly ever have to come up with a dime to buy most of the properties they bring to your attention. You’ll be able to buy and sell houses within minutes – making tens of thousands of dollars while sitting at your desk.
[Ed. Note: Steve Cook will be our special guest at an upcoming teleseminar exclusively available to ETR readers. He'll be covering how to make a great income in real estate... with no tenant hassles and no financing nightmares. Keep reading to learn how to reserve your space on this one-time call completely free of charge.]
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Dear Michael Masterson: "I am paralyzed by fear to approach anyone with my idea."
"I’m looking to start my own business. I have put together a self-defense product geared primarily toward women. I really feel like it would be very successful if I just knew how to market it. I am paralyzed by fear to approach anyone with the idea, and thus find myself sitting and waiting to get started … which means another opportunity to gain personal and financial freedom is passing me by.
"The need for personal security information is at an all-time high, and it’s not going to get any better. My passion comes from personal experience. Someone close to me was assaulted by her ex-husband and she had nothing to protect herself with.
"I’m sick of seeing news stories about ladies being attacked, raped, and abducted. I want to equip them to at least have a chance of surviving an attack, but I just don’t know how to get my product in front of them on a shoestring budget.
"I’m 44 and trying to support three daughters, a wife, and an aging mother with Alzheimer’s. I’m overwhelmed at times, and on my own as far as starting my own company. I would really appreciate any help or advice."
PL H.
Murfreesboro, TN
Dear PLH:
I don’t have nearly enough room here to teach you everything you need to know and provide you with the advice and motivation you seek. But I can say a few things that should help you better accomplish this and other goals in your life.
First, it is apparent that you are overwhelmed. I can see it in your letter. And when we are under stress, it is sometimes better to freeze and wait for the storm to pass. But in your case, as you point out, your future is passing too, along with the dreams you have about creating a business and selling a useful self-defense product.
So you are right to ask for advice. You need help. And you need it now. Here are a few suggestions:
1. Get a grip. Make a complete inventory of every problem you are facing. Next to each problem, identify three possible solutions. Doing this should show you that things are not as dire as they may feel.
2. Establish priorities. You have problems and you have goals. You don’t have time to solve all your problems and achieve all your goals simultaneously. Make two lists, one of problems and the other of goals. Promise yourself that you will deal with only one problem and one goal at one time.
3. Make another list. If establishing a business to sell self-defense information to women is your primary goal, make a list of everything you have to do to accomplish that goal. That list should include the following:
- Learn how to become an information publisher.
- Become familiar with direct marketing.
- Create the self-defense system you intend to sell.
- Find a martial-arts expert to endorse your program and help you perfect it.
- Produce the product (preferably in digital form, since your capital is limited).
- Locate mailing lists or websites that will accept your advertising.
- Working with an experienced marketer and copywriter, identify your product’s USP (unique selling proposition) and then create a strong promotion.
- Find the money you need to launch your business, either from personal contacts or by going out into the financial marketplace and locating a partner.
4. After you have finished that list, start at the top and accomplish each step within a timeframe that works for you. Use a goal-setting program to help you get each step completed.
5. Get support along the way by communicating with other ETR readers. Ask for their help if you need it.
- Michael Masterson
[Ed. Note: This April, Michael Masterson will lead 25 to 50 ambitious businesspeople through an elite 5-day program that can help dramatically increase the profitability of their businesses. Learn how you can be a part of this exclusive group here]
The Apple: Nature’s High-Powered Disease Fighter
By Al Sears, MD
"An apple a day keeps the doctor away" – and after all these years, new studies reveal why this saying is true. Turns out the humble apple has remarkable antioxidant and disease-fighting capabilities.
Immune boosters in a group of antioxidants called flavonoids are at the center of the story, with scientists calculating that the flavonoid power in just one apple is equal to 1,500 mg of vitamin C. And aside from protecting your heart from dangerous free radicals, flavonoids raise your HDL (good cholesterol) and have a blood thinning effect, which lowers your risk of blood clots.
The results of recent research, including the Women’s Health Initiative and the Harvard Nurse’s Health studies, show that women who ate at least one apple a day were:
- 22 percent less likely to develop heart disease
- 37 percent less likely to develop lung cancer
- 20 percent less likely to develop all forms of cancer
These are impressive results. Can you imagine the hype if a single drug could provide this kind of disease protection?
So it’s worth reminding yourself to put a bag of apples in your shopping cart each week. Other good sources of flavonoids include red grapes, tomatoes, onions, green tea, dark chocolate, blueberries, broccoli, and kale. Small portions eaten regularly are your best bet.
[Ed. Note: Dr. Sears, a practicing physician and the author of The Doctor's Heart Cure, is a leading authority on longevity, physical fitness, and heart health.]
Internet Marketing Tip: Don’t Send Your E-Marketing Efforts Straight Into the Trash
By David Cross
I receive a lot of e-mail as a result of purchases I’ve made and the e-mail newsletters I subscribe to – like all those "Welcome to our company/newsletter" e-mails companies now send. It’s a very good idea for them to do this … but I am amazed by how many of these messages are classified as "junk" by e-mail programs and spam-checkers.
So, if you are doing business on the Internet, you should always check to make sure that your e-mails to your customers/subscribers not only pass the Internet Service Providers’ spam filters but also the spam filters in Outlook, Norton AntiSpam, and other e-mail programs and spam-filtering programs commonly installed on personal computers.
For example, one thing that seems to trigger Norton’s AntiSpam program is to embed an "external" image within an e-mail (where the e-mail software has to download the image from a remote server).
One of the best ways to make sure your e-mails are getting through to your customers is to set up your own test accounts at major ISPs – like Hotmail, GMail, Yahoo, etc. – and monitor whether your e-mails arrive or get tagged as spam. You can also use a service such as deliverymonitor.com, which, for $80 a month, will monitor your e-mail delivery rates to major ISPs.
[Ed. Note: David Cross is Senior Internet Consultant to Agora Publishing in Baltimore. To learn more about the strategies and techniques that David’s clients have put into practice, please visit here.]
It’s Fun to Know: About Toothbrushes
- Ancient civilizations (going back to 3000 BC) used "chew sticks" (small twigs with a frayed end) to clean their teeth.
- Early toothbrushes were made of bristles from boars. The earliest record of a bristle toothbrush is about AD 1600 in China. Nylon bristles didn’t replace natural swine bristles until the 20th century.
- William Addis (of Clerkenwald, England) created the first mass-produced toothbrush in 1780.
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Word to the Wise: Palliate
To "palliate" (PAL-ee-ate) – from the Latin for "to conceal" – is to reduce the intensity/severity of something.
Example (as used by Steven Polansky in Harper’s Magazine): "I had held a hope that … I would have the chance not only to cope with but to help palliate her pain."
[Ed. Note: Become a more persuasive writer and speaker ... build your self-confidence and intellect ... increase your attractiveness to others ... just by spending 10 VERY enjoyable minutes a day with ETR's new Words to the Wise CD Library.]
Michael Masterson
Copyright ETR, LLC, 2007
Real Estate Day Trading sounds intimidating for a first time home buyer.