A friend had an extra ticket to the Learning Annex Real Estate Expo, so I attended today. She had paid $175, but the prices went down. Yesterday the VIP pass (which includes the coffee and seats up front) for $99.
The keynote room was huge; big enough to hold 50,000 people and it looked like an airplane hanger. The floor was concrete, the chairs were touching each other. The back seats were all roped off so people would go up front. When we walked in, girls with tight T-Shirts) with “FUN” on their boobs (think Amanda on Rocketboom) were waving long balloons and jumping up and down. Pump up music was blasting. 30 minutes late, the host came out to rev everyone up – “who wants to be rich, jump up an scream!”. They are going to give away iPods. The crowd wasn’t that into it. With the sound reverberations, we had a headache.
The conference had speakers in the keynote hanger and split out into other rooms you choose. We left the opening pep rally a little early so we were sure to get in (if the room filled, you were turned away). We went to see Robert Shemin on “Good Deal or A Bad Deal”. It was entertainment…. He gave out money to people who raised their hands, had us thinking that he was going to give someone a million dollars, and wrote a “mystery check” for a charity and gave it to a woman in the audience. I’m still curious about the amount. He seemed credible and seems like a nice guy (he said he gave all his speaking fees and book sale profit to companies). The amount of information we learned you could count on your hands. A good fix-and-flip you should may 20%. Wholesale means you put down a contract and then sell writes to the contract before it closes. A bank will short sale a foreclosure for 18% under the mortgage amount. Lease to own is up and coming, not only if you live in the place, but also if you are going to rent it to tenants. He referred a lot to his CDs, his 3 day training, and a real estate network he ran.
George Foreman
We went back to the hanger to see George Foreman. George Foreman talked about his boxing career. He was very dynamic and charming. The echo in airplane hanger was so bad we couldn’t really understand what he was saying. There were people really into it, but I didn’t know enough about his fighting career to understand.
Robert Blumn – Legal Tools for RE Investors
We stayed in the hanger to hear Robert Bluhm on 6 must have legal tools for any investor: asset protection.
Three requirements to lower your takes:
- Own a Business
- C-Corporation (he said this was the best way to get tax writeoffs, including 100% of your family medical expenses)
- “Key Words”
· Medical Reimbursement Plan
Sources of Suites
1. Divorce
2. Employee Actions
3. Guest Accidents at Home
4. Join Ownership Pitfalls (joint tenancy, tenancy by entireties, community property, other forms)
5. Involvement in General Partnerships
6. Service as Corporate Officer or Director
7. Implied Corporate Officer
8. Just “Owning an Asset” – Dangerous
9. A Suit Today for an Act Ten Years Agao
10. Insurance May Not Cover You
To protect yourself, Robert suggested a Limited Family Partnership. Some links to Limited Family Partnerships
· http://www.rjmintz.com/appch5.html
· Protecting a Family with a Partnership
· What protection is available through a limited family partnership?
Robert had a program he was selling, with all the forms, for around $2000.
Wayne Gray – Earn 5-10K/Month with Tax Liens
He offered a program that had educational materials, contact information of counties’ tax liens, connected you to a network and had some software for around $1800.
Raymon Aaron - Automatic Prosperity
We entered the room to wait for another seminar and the room was a frenzy… people were running to the back to purchase the Monthly
Chris Johnson - Free Money from the Government
Number Programs Available
- 1453 Federal Programs
- 17,215 State Programs
- 30,089 Private Foundations
- 20,000+ Scholarship Programs
Programs:
www.cfda.gov – catalog of federal domestic assistance
- Women Business Ownership – 59.043 – to help women own a business, last year the average grant paid out $75,000.
- 14.117 – Purchase a 2-4 Unit Builidn
- 14.112 – Build or Rehabilitate Condos ($2,000,000)
- 14.151. – Fix up Multifamily United ($2,000,000)
- 14.197 – Fix Up Apartment Building
- 47.070 – Computer and Information Science and Engineering
- 45.301 - Museums for
- 23.009 - Appalachian Local Development District Assistance
- 11.003 - Census Geography
- 11.002 - Census Government Agreement
- 11.001 – Census Bureau Data Products
- http://hod.gov – takes back 1000’s of properties through foreclosure, then lists with relator. Most have sold after 6 months, but then they try to get rid of them (10 days), then (4th) stage, you can get them for $1 (but also must do the repairs) Information about how to buy a HUD home.
- HEMAP – Homeowners Emergency Mortgage Assistance Program
- Homeowner Rebate Programs
- Community Development Block Grants
- 203(k) Rehab Program
- Housing & Rehabilitation Grants
- American Dream Downpayment Initiative
- AmeriDream Charity Grant 5%
- Future Home Assistaance Grant 6%
- Partners in Charity Grant 10%
- Home Quest Down Payment Fund (6% OF UP TO $300,700)
Business Grants and Loans
- Sba.gov – small business administration
- Gsa.gov – over half-trillion dollas in government contracts
- Book – Free Money Grants & Loans
Government Grants for Real Estate
- Books – Real Estate Free Moneyy Grants & Loans
- www.students.gov – 1000’s of programs
At the end, Chris gave away his program to a single mom in the audience. Then he asked if we all wanted one free and if so, to go to the back. Then threw in some more items (email coaching with him for a year, a piece of software) and the explained that he’d go out of business if he sold it for less than $685. A lot of people bought.
Tony Robbins
3 Mandates of Leadership
1. See it as it is … but not worse that it is!
2. See it better than it is.
3. Make it as you see it.
Emotional fitness is the difference.
Have you ever failed to achieve your goal? When you ask people why, their reasons are:
- Time
- Money
- Lack of Technology
- Lack of Education
- No Energy
- Not Enough Research
- Terrible management
- Terrible people
- Not Enough Supreme Court Justices
The most successful people on earth are the people that understand that the above is just resources. Resources are never the problem; it’s always a question sof RESOURCEFULNESS.
Emotions are the Ultimate Resource.
This is about creating an Extraordinary Quality of Life –
Definition: a life of meaning, a magnificent life, fulfilling and on your own terms.
The 2 master skills of life:
- The Science of Achievement
- The Art of Fulfillment
You can change your state in a moment.
Emotion comes from motion. The way you use your body can determine your state.
Two factors control how you feel in a given moment
- Physiology
- Focus – Focus = feeling = reality (even if it is not true)
You need to control your focus. At any moment, you are making 3 decisions
- What are going to focus on
- What does it mean?
- What am I going to do?
A lot of this is timely as it reminded me of the “Flow” CD that I recently listed to. In particular, Tony was addressing how to influence your state of mind.
All of thought is asking questions. Changing focus in life can be done by reframing questions. Changing Physiology is faster than changing focus. Wherever focus goes energy flows.
Only way to change your life long term is to raise your standards. You need to change your “shoulds” into “musts”. When something becomes a must, that is when it changes your life. When something is a must for you , it becomes your identity. Strongest force is to be consistent with how you defined yourself. To changes things you got to shift your psychology, your musts, to raise your standard. When it is a must, you find the way.
The Success Cycle -
Potential à Action à Results à Belief/Attitude --
^ |
|-----------------------------------------------------------|
- Raise your Standards –
- Change your Should to Musts
- Change Your Limiting Beliefs
- Model the Strategies that Work, Model Success
- Give more than you expect to receive
Day-One Wrap Up
It started out slow, but I did get a glimpse of things I’d like to research some more (Limited Family Partnership, Liens). I didn’t buy programs (they are much cheaper on eBay if I really wanted them). I saw some master salespeople get people to fork over several thousand dollars on a whim. And Tony Robbins was motivating, insightful, and practical.
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