to be successful with your chosen vehicle from a mentor that already has substantial success. CAUTION: It is unwise to buy investments from the person teaching you about them. Because I had skills for starting businesses, my wife and I chose to start our own company that sourced and brokered loan purchases/ investments (our chosen vehicle) to seasoned investors who were already successful experts in these investments. For us, that meant serious belt-tightening, living on one income from her corporate job using a strict budget while we built the new company and gained the expertise in these loan investments. We did this by finding the loans and working with experienced investors who buy them. We took a couple courses from experts then launched our company with web site, logos, and direct mail marketing. We quickly sought out as - sociations with others making these investments. We were able to see and learn
how other successful investors made these investment decisions and at the same time we derived a growing income during our learning. We learned the upside returns and downside risks of these investments from seasoned investors as we locat - ed and helped them make purchases in their due diligence period. We earned a broker fee on transactions that concluded successfully. We observed and learned which loan investments passed their criteria and inspection, their assessment of risk-return and the loans where they walked away. A short one and a half years later, having learned enough from other investors. we began occasionally making our own investments. We started with small amounts of cap - ital investing in higher risk but with excellent return. If you do choose to start a business around your investment vehicle, begin with the end in mind! Design your business so it can become another source of passive income
running without you! Someone had mentioned the book “The eMyth Re- visited.” We read this cover to cover, and then went back over it again (and again). IT WAS INVALUABLE for us to think of and structure our invest - ment business from the beginning so we could eventually step away. You can do the same! Join me next month for STEP 6 - Build and Expand your Passive Income. •
Gene Powers is President and Founder of Nationwide Secured Capital, a brokerage and investment company that purchases private loans secured by real estate for its own portfolios and
numerous private investors and funds. Nationwide provides cash out and recapitalization options to those receiving payments on first position private loans. This includes real estate investors/property owners who provided owner financing on properties sold. Call (800) 853-0573 or go to www.NationwideSecuredCapital.com for offers. This article series outlines the 7 foundational STEPS that Gene and his wife learned in their jour- ney. They now travel extensively while co-author- ing a book further detailing these key steps in their journey to Financial Freedom. Email FFReadMore@ CPFFCorp.com for more on this topic.
thinkrealty . com | 77
Made with FlippingBook Online newsletter