The Millionaires Blog Wholesaling GuideNo B.S. (Money-Getting) Advice for Wholesaling Real Estate, Wholesaling Houses, Real Estate Wholesaling and Flipping Homes

If you ask many of the real estate agents out there, “Hows your market?”. They will always tell you exactly what the general market conditions are, “oh are markets slow right now”, “oh its getting a little better”, these are all answers that I have heard.

It is very important to keep in mind that an agent or investor does not have to be affected by his/her marketplace. I have had agents tell me the market is very slow meanwhile I am doing better than ever. Essentially “their” market is very slow. Yes, real estate trends do predict what the large population is doing in the realms of buying or selling. The agents themselves decide how “their” market is.

The real estate trends in my area are extremely grim. So instead of focussing on how hard it is to sell homes, I refocused my plan and became my own best buyer. I bought 3 from me last week alone, and bought 4 from me in the previous month. Most investors and agents are sitting on the sidelines trying to wait the market until the market is great again before they begin reinvesting in real estate.

Prices in general are dictated by supply and demand. When the markets great supply is low and demand is high. When the market is bad supply is high and demand is low. The problem that I see with trying to wait out the market is that when the market is good you can sell for higher, but you pay more because there is more demand. When the market is low, you pay far less and sell for far less. Many times the two can cancel eachother out. Best case scenario you buy when its low and sell when its high, and rent your places out in betweeen.

The lottery of life

What do you think your chances would be of making $20,000 if you read a good real estate book or took a great course and applied everything that you have read. What if you were really bad and could only muster a 33% chance of making the money? That is the weird thing most people would enter any $20,000 drawing if the tickets were only $100 and they had a 33% chance of winning. The funny part to me is that your odds of winning a drawing are based solely on chance, where as your odds of buying a ticket for yourself are based on your actions not just chance. Why not take a chance on yourself. Im sure that when you dig into your head for reasons NOT to invest in yourself you can come up with hundreds of examples where you have invested in yourself and failed. Your past does not equal your present.

I read somewhere to picture yourself in the middle of the ocean on a boat. If you look back all you will see is your wake, the wake always follows the boat. To someone who knows nothing about boats or water it may appear as if the wake pushes the boat forward; just as someone who doesn’t study themselves might think that their past equals their present. The present moment is like the engine to your boat, you can steer your boat anywhere you would like to go, the wake will always follow, but the wake will never power your boat.

Eric Medemar
www.TheMillionairesBlog.com
www.BirdDogBiz.com

I dont know about you, but I have been caught getting ready to get ready far too many times. Many new investors get caught only learning instead of doing. They dont do, because they fear failure.

I remember when I was a boy and my uncle told me he was millions of dollars in debt doing sub divisions and other real estate ventures involvingproperty investing . I asked him “doesnt that scare you to have that much debt” he replied “you know what Eric they can only take my house once”. I have been living by that saying for quite sometime now. Fast forward 20 years and i’m a million dollars in real estate debt, and loving it.

For help escaping analysis paralysis visit www.TheForeclosureCollege.com

Eric Medemar
www.TheForeclosureFinder.com
www.TheMillionairesBlog.com

Far too often people chase happiness as if it is something that can be bought or found. People believe “when I lose the weight i’ll be happy”, “when I get married i’ll be happy”, “when I get a raise i’ll be happy”.

The problem with timelined happiness is that you just limit yourself to being happy at that moment in time which you have targeted. Instead of timelined happiness let yourself be happy everytime you are doing something that moves you toward your goal or better yet, just let yourself be happy.

Happiness is all about rules. We are only happy when our happiness rules are met. The odd part is that we set our own rules. The problem is that most people don’t set their own rules, they let their peers, family and society set their rules for happiness. If you haven’t noticed by now these people don’t always have your best interests in mind, nor do they have a clue about what should make you happy

What has to happen for you to be happy?

What if your new rule was to be happy each time you blinked, breathed, or moved your hand? Then you would have to be happy all the time, wouldn’t that be terrible?

If you found out that you won the lottery 99% of you would be happy, not happy because the lottery made you happy. Happy because you allowed yourself to be happy, because your personal rules state that if you win the lottery then you get to be happy.

Life does not have to change to make you happy, your mind has to change to make you happy!

Eric Medemar
www.TheForeclosureFinder.com
www.TheMillionairesBlog.com

A goodenuffer is the one who isn’t really happy with their career, their relationships, or their life in general. Don’t get me wrong they aren’t sad either, but that’s the dangerous part, they aren’t sad enough to change anything, but not happy enough to be exited about the wonderful world that god has created for us. They are on auto pilot. They are the ones that you will often find saying things like “ Its chrismas again it seems like we just had christmas”. They say this because there life doesn’t have enough highpoints. Essentially the time in between high points (things like Christmas or other big events of the year) is not taken in and noticed, so when the holiday comes up it seems like no time has passed from one year to the next.

Have you ever driven a really long road between two large cities? If I were to ask you to name some of the things you passed between cities more than likely you wouldn’t be able to remember, but if I asked you a question about one of the cities you were traveling to more than likely you could come up with a fairly vivid description. That’s how the goodenuffer travels through life, just noting the big cities, and never taking the time to enjoy the miracles along the way.

Eric Medemar
www.TheForeclosureFinder.com
www.TheForeclosureCollege.com

I don’t know if you have heard the term “Mind like water”, I have heard it a handful of times while growing up and just thought of the statement as some weird Mr.Miyagi (karate kids teacher) type statement. It turns out that the statement can be the perfect prescription for people and their problems whether big or small.

Picture yourself sitting next to a small pond on a tranquil morning with no wind or rain. Looking out at the pond you notice how perfectly calm it is. No ripples, no waves just perfectly still water. Water so calm that a when a dragonfly swoops down for a quick swim, the ripples from his landing roll across the pond. This is the essence of mind like water. Your mind is the still pond, the dragonfly would be the problems of everyday life. The pond always reacts to each object that breaks the surface proportionately to the size and speed of the object that hits it, then returns to calm. If you throw a small pebble into the pond you may see a small splash, then small ripples going outward to the walls of the pond before returning to calm. If you throw a boulder into the pond a huge splash will be seen followed by large ripples moving outward to the ponds edge before returning to calm. A pebble will never produce a boulder like splash or ripple, just as we should never make a small problem into a large one through our reactions. Shortly after each object hits the water the water will return to calm, just as our mind should with each problem that life seems to throw at us.

As an avid real estate investor I have often found myself turning life’s little problems into big problems which always has a negative effect on my life. Why I do this, I don’t know but my best guess is that I was trained from an early age that problems are bad and they need to be treated with drama. Next time a problem comes up in your life try to keep a “Mind like water”, if you can look at a problem and say “I’ll laugh at this in 10 years” then make the choice to laugh at them today.

Eric Medemar specializes in Foreclosures, and investment property
http://www.themillionariesblog.com/
http://www.theforeclosurecollege.com/

A brief overview of my 2007 Goals I have never understood why 95% of people spend more time putting together a map of how to get to their vacation spot, than they do putting together the map that will shape their lives. Without goals you are essentially trying to put together a puzzle without having a box to look at the picture on.

1. Rehab 20 Grand Rapids Foreclosures and sell at least 13 of them
Steps I have taken so far
a. I am currently rebabbing 11 properties so I am off to a good start

2. Make at least $200,000 flipping, buying, and wholesaling Grand Rapids Real Estate
Steps I have taken so far
a. I have 6 homes under contract to sell which I will profit very well on

3. Make at least $120,000 selling other Grand Rapids Real Estate
Steps I have taken so far
a. Started running ads
b. Started calling leads back again

4. Help at least 40 people turbo charge their investment careers
(If you would like to turbo charge your investment career email me at TheForeclosureCollege@yahoo.com )

Steps I have taken so far
a. Have done 11 phone consultations with new investors

5. Develop a 100 person buyers list for Grand Rapids wholesale homes
steps I have taken so far
a. Started running ads again
b. Started calling old buyers back

6. Build up to $4,000 net cash flow steps I have taken so far
a. I have 33 units, Mostly single families, a couple twos and a couple 3′s.
To be honest I have no idea what I spend or what I take in. These figures would seem somewhat important so I hired an accountant this year.

7. Be more organized
Steps ive taken Hired an accountant
Hired 4 contractors to do my work

Thats a brief overview of my real estate goals. I have the long version using the steps below but I will save you the reading. I will say this Goals are powerful tools once written, here is what happened to me with my first goal setting attempts. When I was around 24 years old, I had started reading about the importance of writing down goals. I was sitting at my desk one day (at a job I wasnt overly fond of) and began writing out my goals, I don’t remember all of the details but I do remember the major themes of the goals.

Goal #1 Own a Harley before I was 30 years old
Goal #2 Have at least $30,000 in the bank before I was 30
Goal #3 Make at least $100,000 a year by the time I was 30
Goal #4 Own at least 5 investment properties before I was 30
Goal #5 Have a fun car by the time I was 30

I think I must have been about 29 years old and was working on cleaning out my basement when I discovered my old book of goals. Upon opening the book I realized that I had achieved every single one of these goals without even realizing it. I had a harley in my garage, a convertible corvette in the garage, a jeep wrangler for days I didnt want to drive my vette, a lexus for my winter beater, I had been making 6 figures for a few years already, had over $100k in the bank and had 9 rentals. It was as if once my goals were written down I began to attract all of the tools that the universe could offer.

1st What is the end result that I would like to have? Be very vivid in your description of your end result. Think of things like how you will feel, what you will look like, and how other will see you.

2nd What time frame would I like to achieve my result in? Does your result need to happen in a week, a month, a year, or a decade.

3rd What am I willing to do, to make these results happen? If I were to pick out the most important step of goal setting it would be this one. Layout every action that will be required in order to achieve your goals. Be sure to include every step that will need to happen in order to make your dreams come true.

4th What will happen if you don’t achieve your result? By answering this question as thoroughly as possible you will be creating your big WHY and building your leverage. Building leverage is important because leverage helps you stay on track when the going gets tough. If your end result was too lose 20 pounds, your leverage might be I will die 5 years earlier, I will continue to feel fat, or I wont be able to play sports with my son.

5th What has caused me to fail in the past when I have tried to achieve the results that I desire? This type of brainstorming can help aid you when roadblocks come up. Identifying what has lead to past failure will help you avoid repeating the same failure again

6th What will my new reaction be when the same roadblocks come up in the future? Having a written plan of action in place can help prevent future failures at your goal attempts. Here is a sample of using the 6 step method.

1st, Make $20,000 wholesaling 3 homes by June 1, 2007

2nd June 1, 2007

3rd Steps to Getting Homes to Wholesale
1. Put out we buy house signs
a. Get 1800 for signs
b. Hire someone to put out signs
2. Call 5 realtors a week
a. Ask them if they have investors that they work with
b. Offer to take them to breakfast to discuss investing
3. Find buyers
a. Run ads in newspaper
b. Call other wholesalers
c. Ask realtors for buyers

4th List of What will happen if I don’t achieve my results
1. Be 20,000 poorer
2. Wont be able to put my son through school
3. Wont be able to buy that new car I wanted
4. Wont be able to take my dream vacation

5th List of what has caused me to fail in the past.
1. Analysis paralysis
2. Didn’t look at enough properties
3. Didn’t have enough properties to see
4. Didn’t have enough buyers in place

6th List of what I will do to get past the old road blocks
1. I will prevent analysis paralysis by having all the proper contracts, buyers, and market analysis tools in place.
2. I will run ads, put out signs, and network to find properties
3. I will run ads, put out signs, and network to find buyers

If you would like help with goal setting, wholesaling, or bird doggin real estate visit www.TheForeclosureCollege.com

I hope this helps at least 1 person to sit down and write their goals out, then achieve them.

Eric Medemar
www.TheForeclosureCollege.com
www.TheForeclosureFinder.com

Put a price on their heads. I have found that when people call and I take down their name, phone number and email address, that it also helps to put a price on how much money I could make from them. You can do this by taking the price of the home or homes that they are looking for and calculating the commission or profit that is possible if they buy from you. This shift in thoughts can help propel you from seeing them as another annoying person to deal with, to seeing them as a trip to Jamaica, a new car, or taking 4 weeks off of work. To ad to this thought whenever I pick up the phone I say to myself, “This could be Cancun right here”. Keeping the end result in mind will make me want to do my best with every customer.

For a one on one consultation with me visit www.TheForeclosureCollege.com

Eric Medemar

www.TheForeclosureFinder.com

Check out my other posts on www.reiclub.com and www.Biggerpockets.com

Many times in real estate or anything in life for that matter things can get a little overwhelming. I use storybooking to motivate and set the direction for anything that I would like to achieve. Storybooking is very similar to goal setting only many will find it slightly less intimidating. I use storybooking with every rehab that I do, I used story booking to get going in real estate, you can use storybooking for just about anything large that you need to overcome in life.

Here is a shortened example of storybooking your way to wholesaling

Title Wholesaling

Chapter 1 Learn market
1. Set up lunch with 5 realtors and pick their brain about market conditions
2. Study the tax records for previous sales
3. Go to www.Zillow.com and study sales prices
4. Find the most profitable and fastest growing areas in my range

Chapter 2 Find buyers
1. Call all cash for your house ads
2. Call all cash for your house signs
3. Run ads in local paper
4. Talk with realtors about buyers that they might have
5. Talk to other wholesalers about buyers that they might have outside of themselves
6. Check tax records for movers and shakers

Chapter 3 Find Houses
1. Call realtors about sending you new foreclosures
2. Watch the local paper for new listings
3. Check the HUD website every week
4. Call cash for house people and see if they wholesale any houses
5. Drive around and look for vacant houses

Chapter 4 Put the home under contract
1. Find out what title companies in your area will do back to back closings

Anyway you get the idea, it is pretty much like your average goal setting without all of the built in fears that the word Goal carries with it. Simply start your title with what you would like to do. Add chapter for the major steps that will get you to where you want to be. Break the chapters down into important pages or steps that you will need to complete to get where you want to be.

Foreclosures and flips manual Click Here!

Just remember the best way to eat an elephant is one bite at a time. Newbies dont get overwhelmed by the grand scope of real estate. Break the huge title of real estate investing down into little steps that you are confident that you can achieve. Lack of confidence typically leads to lack of action, and lack of action leads to know where.

Eric Medemar
www.FreeHUDGuide.com
www.IncomeHomes.com

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I just read this quote from Muhammad Ali

“I am the greatest,
I said that even before I knew I was
Don’t tell me I can’t do something.
Don’t tell me it’s impossible.
Don’t tell me I’m not the greatest.
I’m the double greatest”

I love it, we should all think we are the greatest, because we are the only us that there is. If were the only us, then we must be the greatest. If we each thought we were the greatest I think that so much more would be accomplished by everyone of us.

Eric Medemar
www.TheForeclosureCollege.com
www.TheForeclosureFinder.com