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The Three Magic Words to Building Wealth Online
What are the three most important words for rapidly building enormous wealth online?
Quick, cheap, & easy! My new Internet program has them all.
You see, the problem with most Internet advice out there is it’s designed for people with big (multi-million dollar) advertising budgets, lots of administrative, legal and accounting support and an existing marketing base.
But if your company is smaller than $1 million and/or if you don’t have an Internet business yet, then you need something different....something that let’s you start off small.
One man I know turned $10 into over $500,000. How’s that for starting small!
Let me show you how to get a similar Internet income stream running for almost nothing.
- Patrick Coffey
"Opportunity dances with those already on the dance floor."
- H. Jackson Brown Jr.
The $40,000 Reason to Pay Attention to the 45 Percent Increase in U.S. Real Estate Foreclosures
By Ted Thomas
I'm not a financial genius, but I can see what's going to happen with rising interest rates.
We can expect surprises in the real estate market. This year, real estate foreclosures will get out of hand and the banks will be dumping properties at surprising discounts.
Already, the January 2006 Monthly U.S. Foreclosure Market Report reveals a 45 percent increase over last January in the number of properties entering some stage of foreclosure. This is continuing an upward trend in which the national foreclosure rate rose in every quarter of 2005.
As a 20-year veteran of investing in foreclosures, that excites me, because it means there will be more chances than ever for me to buy properties at well below market value. But let's not jump the gun by talking about all of the money to be made. Let's first take a closer look at what's happening to drive the foreclosure rates up.
National Equity Deficit
In the last year, over 39 percent of all real estate down payments were 5 percent or less. America is mortgaged to the hilt. It doesn't take a financial genius to figure out that a hiccup in the market could produce massive foreclosures. It wouldn't take a recession ... maybe gasoline rising to $3.00 a gallon or just an economic slowdown could be reason enough for homeowners to sell.
Even the breakup of a marriage can influence house sales. Think about it: 50 percent of married couples divorce - and what happens to the house?
In today's world, it takes two incomes to qualify for a mortgage. Can the solo partner continue making payments? If "yes," that's great. But more than likely, the solo homeowner will sell. Shortly, a discounted or reduced price sale will occur, because the solo partner isn't making the mortgage payments and the bank is about to foreclose to recover its security. The desperate, motivated seller has no time to hold out or be involved in lengthy negotiations.
Bottom line: A sale at less than the market can be expected. That less-than-market sale will be recorded and published and will soon be the local comparable sale, thereby pulling down all values in that neighborhood.
Affordability Problems
In the last few years, mortgage debt has increased from 50 percent to 69 percent of personal income (depending on which numbers you're reading). In states like California, more than one in seven homeowners are using half of their income to pay mortgage debt, according to a recent report by the Public Policy Institute.
Adjustable Rate Mortgage Meltdown
This is the tip of the iceberg.
When we take into account the adjustable rate mortgages (ARMs), a slight dip in the market could cause a real estate foreclosure bloodbath. The Mortgage Broker Association reported in 2004 that 46 percent of mortgages (in dollar terms) were ARMs. These mortgages will have rising payments as bank rates increase, which is what they are doing right now. In a few short years, the low interest mortgage rate honeymoon will end and the real estate nightmare will begin for those who haven't improved earnings. According to Deutsche Bank, by 2007 12 percent of the U.S. mortgage debt will enter the adjustable period.
The Double Dippers
As property prices soar, lenders are allowing buyers to essentially borrow the down payment shortfall. For example, a first mortgage at the traditional 80 percent loan-to-value ratio plus a 20 percent second mortgage to make up the difference.
An average of 38 percent of local buyers in California double-dipped in the last 12 months. Ten years ago, only 2 percent were double-dippers.
The Short Answer
In short, yes - impending foreclosures are a reality in today's market. And as I mentioned earlier, that's going to be a financial boon for me as a foreclosures investor.
But I certainly won't be alone in my search for the best deals.
Tomorrow, I'll tell you one of my favorite techniques for making as much as $40,000 in a single month in foreclosures ... without having to do a single rehab.
(Ed. Note: Best-selling author Ted Thomas is a Florida-based investor, publisher, and real estate foreclosure and tax lien authority. He has written 27 home-study courses and writes for legal newspapers and national magazines.
Ted will be giving an exclusive talk on the foreclosure real estate market for Early To Rise readers in early April. Click here if you're interested in being included in his teleconference presentation.)
Fishing for Big Dollars
By Michael Masterson
Ask 10 successful salespeople "What is the most important factor in your success?" You'll get 10 different answers.
One will tell you it's his trick of "visualizing" himself making the sale. Another will talk about his closing strategy. A third will explain the importance of sheer persistence. And if you want to be good at sales, you will have to take advantage of all of this good advice.
But if you want to know the single most important factor in getting rich in sales, there is only one answer: Sell expensive stuff.
It's a controversial thing to say - and there are many salespeople who would disagree with me on this. But I have found it to be true. If you have a choice between selling straw hats or supersonic jets, sell jets. You may need more technical knowledge to sell the jets, but making the sale itself isn't necessarily harder. And when you do make the sale, you'll bring in much higher profits.
Effective selling is always a matter of putting yourself in front of the right prospects and then helping them understand why they need your product. Once the connection is made, it takes the same skills, strategies, and techniques to sell any product well.
If you can sell a vacuum cleaner, why couldn't you also sell a million-dollar house?
In his very good book How to Become a Rainmaker, Jeffrey J. Fox makes this same point by comparing selling to fishing. What's the most important thing you need, he asks, when going fishing? It's not the bait, the pole, or the hook. It's the fish.
"Rainmakers fish where the big fish are," he says. "Big companies in an industry are generally better prospects than small companies. Successful customers are generally better prospects than struggling customers."
Today's Action Plan
Think about what you are doing now. Are you selling the most expensive products to the best customers in your industry? If not, what changes can you make?
Remember, you don't always have to abandon what you are doing to begin something new. You can experiment a little - test a few new ideas, market a few new products, meet a few new prospects - until you figure out what will work.
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How To STOP Uncle Sam From Cheating You Out Of $55,909 this April 15th
(and instantly turn it into a $279,545 asset)
Greg W. could have kept quiet and handed over $55,909 in taxes that he didn’t even owe. But instead, he took advantage of a little-known (but entirely legal) tax loophole that specifically helps investors keep their income and grow their money faster. Click here to learn more.
Your "Biological" Age
By Jon Herring
You know your chronological age, but do you know your "biological" age? Most people don't. You may be 54, but have the body of someone who is 73. Or perhaps you are fortunate to be 85 and enjoy the good health of a 50-year-old.
How can you tell? By measuring your "bio-markers." According to Dr. Al Sears, an expert in anti-aging medicine, once you know where you are (biologically speaking), you can take steps to improve or reverse the effect of the factors that are contributing to your premature aging.
Here are just a few of the bio-markers that Dr. Sears says you should have measured:
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Hu.man Growth Hor.mone - a hormone that not only is essential for improving your ratio of lean body mass to fat but also promotes the growth of muscle and bone.
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Insulin - Virtually all long-lived people have one thing in common: relatively low levels of insulin. Controlling this hormone is essential for a lean body and healthy longevity.
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Triglycerides - Elevated levels of these blood fats put you at significant risk for heart disease and stroke. But this is one of the easiest problems to correct with diet (the restriction of all sugars and grains).
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CoQ10 - Most people are deficient in this nutrient that is crucial for heart health and vital for producing energy at the cellular level. It is also an important antioxidant that inhibits the oxidation of cholesterol.
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Lung Capacity - The amount of air you can move in and out of your lungs (at rest) is an important indicator of your health and vitality.
In Dr. Sears' latest e-book, 12 Secrets to Virility, he covers a complete list of the bio-markers for aging, what they mean for you, and how to improve your results naturally. Though the book is geared toward men, much of the information applies to both sexes.
Michael Masterson on Leadership ...
"Consensus-makers are politicians. They focus on group dynamics ... on finding ideas that please a majority of people. Great business leaders are not politicians at all. In fact, the political instinct is almost the opposite of the business instinct."
(Source: Power & Persuasion by Michael Masterson)
It's Good to Know: An Extremely Affordable Alternative to Microsoft Word
By Will Newman
When you're setting up a home office for your new "on the side" career as a freelancer, there's one expense you don't have to worry about.
Most of your clients will want you to submit files to them in Microsoft Word format. This isn't bad if you already own Word. But if you don't, be prepared to pay $200 or more.
That said ... how would you like to get a word processor that can read Word documents, save files as Word documents, and is FREE? I'm talking about AbiWord. This is not shareware, which you download free but have to pay for later. It is free as long as you use it. (They do accept contributions, though.)
AbiWord does almost everything Word does, and it comes in three "flavors": Windows, Macintosh, and Linux. It does spell-checking, tables, formatted text, mail merge, bullets, and numbered lists. You can even add pictures to your documents.
If you do not currently have Word, AbiWord could be the solution you're looking for. This is particularly true if you use WordPad. WordPad files are often impossible to translate.
The website for AbiWord is http://www.abisource.com.
(Ed. Note: Will Newman, a regular contributor to ETR, is editor of AWAI's The Golden Thread online newsletter. To learn how to subscribe to The Golden Thread and how to discover AWAI's proven marketing secrets.
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You Could Make $100,000 a Year As a Graphic Designer
There’s no daily commute... no boss breathing down your neck…and you don’t even have to be able to draw a straight line (the computer does everything for you). I make six figures while raising three children at home! Learn how.
Word to the Wise: Fugacious
Something that is "fugacious" (fyoo-GAY-shus) lasts a very short time. The word is derived from the Latin "fugax" ("ready to flee"). Words derived from the same root include "fugitive" and "refuge."
Example (as used by Harriet Martineau in Autobiography): "The fugacious nature of life and time."
