Greenhorn!!! - Posted by mike

Real Estate Investing Real Estate Gurus
1

Posted by Brad Crouch on September 23, 1999 at 23:10:00:

BRnBA,

No, I wasn’t around for the “great depression”. Before my time. You must think I am really old!

Maybe it IS possible to think “abundance” while “remembering scarcity”, I really don’t know. I try to keep thoughts of scarcity out of my head altogether.

You make me examine the issues that are buried pretty deep. And I’ve had to “start over” from scratch more times than I care to remember . . . so it’s more than loosing it twice.

Thanks,

Brad

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Greenhorn!!! - Posted by mike

Posted by mike on September 21, 1999 at 22:23:46:

So, like the movie says “explain this to me like I’m a three year old.”
I have never been so interested and excited about anything as much as buying rentals and mobile homes etc.

Only one problem…
I have no idea how to get started.
What are the first few things I need to do.
I plan on buying Lonnie Scrugg’s books for more information(I have found that I cant get enough of these books).
Whats next? Anyone looking for an e-mail buddy, so I can pick your brains on a regular basis. :slight_smile:

thanks for all your help.

mike

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Re: Greenhorn!!! - Posted by Bill Gatten

Posted by Bill Gatten on September 22, 1999 at 16:14:26:

Mike,

Like Doctor Laura says, “Now come on Martha, you know the answer already… the way to get started is just get started.” Buy the book and do what it says. Doesn’t get simpler than that.

E-mail buddy? You got it. Anytime at all: though what I know about mobile homes, you could hold in Brad Crouch’s coin purse. For my e-mail address, just punch the blue thing above: or you could click on the PACTrust banner at the top of this newsgroup page.

Bill Gatten

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I’m a Picker Upper! - Posted by BRnBA

Posted by BRnBA on September 22, 1999 at 23:50:36:

Like Ray , I’d offer it to the property owner if in someones residence, but anywhere else ‘it’s mine’. Also like Ray, I have found that the people who need it the most are the ones that are the least likely to pick it up. I’ve owned and managed apartments for many years and I’ve found in excess of a dollar in change many times when people move. Some people actually empty a drawer on the kitchen floor or on the counter top and don’t even bother to pick up the change. Go figure! When I was a kid I knew a guy named Jimmy Secrest who bought thousands of acres during the depression. Some parcels for as little as a fifth of whiskey. At one time he owned land in 48 states so the story goes. This old man told me something that I will NEVER forget. He said “you take care of the pennies and the dollars will take care of themselves”. Jimmy was a 'picker upper ’ too.

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Re: Greenhorn!!! - Posted by Brad Crouch

Posted by Brad Crouch on September 22, 1999 at 20:03:31:

Bill,

Now that you have brought up the subject of my coin purse, lets find out how others feel about the question.

To all readers:

If you were inspecting a property with the intention of making an offer (have to keep this real estate related) and you encountered a coin just lying on the sidewalk, would you pick it up? Would it matter what the demonitation of the coin was? What about a paper bill?

Whether you would or would not pick up the money, please tell why.

Thanks,

Brad

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Re: Greenhorn!!! - Posted by JPiper

Posted by JPiper on September 23, 1999 at 13:27:25:

Just to state the obvious, you don’t just “encounter a coin”??you have to be looking at the sidewalk.

Don’t know about you?.but when I’m looking at rehabs I’m not generally looking at sidewalks. Heck, you spend too much time looking at sidewalks you might miss that roof problem!

I’d also like to mention that if you’re going to be constantly “picking up” you should make sure you bend your knees rather than to bend at the waist?..otherwise when you get to be my age your back hurts, thereby necessitating costly back surgery for all that “picking up”.

JPiper

7

I confess… - Posted by Rob FL

Posted by Rob FL on September 23, 1999 at 12:23:45:

… I am a picker upper too! All that loose change goes into a jar in the kitchen. One rainy day about a year ago. My wife and I rolled up about $40 in loose change and went out to dinner. (Of course I changed it into dollar bills at the bank. I couldn’t imagine paying for the meal with a bunch of rolled up nickels, dimes, and pennies.)

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Re: Greenhorn!!! - Posted by Jeff (FL)

Posted by Jeff (FL) on September 23, 1999 at 09:56:13:

Brad,

I used to pick up pennies, nickels and dimes. I don’t any more. It occurred to me one day, that children would get much more excitement from picking these coins up than adults ever would. So I leave them for the children to find.

Unfortunately, I’ve not been able to pass up bills or quarters yet. Interestingly enough, someone in our local area had a “truck load” of business cards printed which appear to be a real $20 bill which has been folded. They leave them lying around bus stops, outdoor cafes and businesses, etc. They appear very real and will fool anyone. I’ve had to train myself not to pick up folded $20 dollar bills ever since.

Have a great day,

Jeff (FL)

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I’m a picker upper… - Posted by ray@lcorn

Posted by ray@lcorn on September 22, 1999 at 21:45:22:

…don’t even have to think about that one. Doesn’t matter about the denomination, or where it is, or what my reason is for being in that particular place… although at a private residence I would immediately hand it to the owner or occupant.

The reason is probably twofold… one I’ve been broke, I mean really broke, and have seen the day when a quarter or any other coin including a penny, would be a welcome windfall. The second is probably related to the first reason: For most of my adult life I have thrown all of my pocket change in a jar at the end of each day, and I consider found coins as freebies to help me fill the jar. To come out of that very broke period of my life I wrote a booklet on how to buy a home to sell through the mail. I paid for the classified ad with the money in my change jars stockpiled from better times.

But once that money has been demonized, now that stuff I leave alone. It’s bad luck to be superstitious. (huh?)

(Now I’m curious as to what dark secret this reveals about my true character. What’s the scoop Bill?)

This also reminds me of the time at a mobile home sales center when we salesmen with way too much time on our hands glued a quarter to the step in front of the office so we could bet on who would try to pick it up. Didn’t take much to entertain us… and it was interesting that the more prosperous looking people were the ones most likely to try, usually men for some reason… women rarely tried. Never gave much thought as to why, but I would bet a dollar on a guy in a new car everytime!

ray

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I’d Pick It Up - Posted by Bill K. (AZ)

Posted by Bill K. (AZ) on September 22, 1999 at 20:40:18:

Brad,

It wouldn’t matter the denomination, I’d pick it up. I like to do my part to control litter.

Bill K. (AZ)

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Re: demonitation - Posted by Bill Gatten

Posted by Bill Gatten on September 22, 1999 at 20:40:08:

Brad,

The REAL context of the question was, if you walking “down the [public] street” and saw a quarter lying on the ground, would you stop to pick it up? Putting it in the context of being on someone else’s property makes a big difference relative to the point of the question I posed at last week’s seminar.

If I can figure out what “demonitation” means, can I play too? ‘Don’t know why you had to put a demon in that word…do you? Somthin’ grabbin’ at ya there Bucky?

Bill

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Watch where you step. - Posted by Rick Vesole

Posted by Rick Vesole on September 25, 1999 at 24:47:09:

Jim, you better look at the sidewalk every so often. I have been in many rehabs that had some pretty disgusting things on the floor. Dan and I were looking at such a house yesterday. His Dad was in town and went along. This house smelled so bad, his Dad almost puked. And I was VERY glad that I was looking down rather than up.

P.S. I don’t know if I have a “scarcity” attitude or an “abundance” attitude, but I will almost always pick up that coin (sometimes not pennies, but always something bigger). And it is definitely not because it will make any difference it my life. It’s just that I cannot stand to be wasteful. Is that stewardship? Heck, when I buy a can of pop with a nickel refund out of a pop machine, I carry it with me wherever I go until I get home and put it in the bag with the other cans to be returned for a refund.

One thing I have noticed is that I will always pick up a coin that was already mine (even a penny), but I will not always pick up a coin that was not mine. So, if I accidentally drop a penny on the ground, I will always pick it up, even if I have to go out of my way to look for it.

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Re: I’d Pick It Up - Posted by don sdca

Posted by don sdca on September 23, 1999 at 21:13:24:

I like that Bill,

Picking up - all for the cause of a cleaner city!!

don

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Re: demonitation - Posted by don sdca

Posted by don sdca on September 23, 1999 at 21:34:47:

Speaking of demons,

The “Carrie” thing (head spinning, etc.) and demons could make for easier picking!!!

Happy picking!

don

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Re: demonitation - Posted by Brad Crouch

Posted by Brad Crouch on September 23, 1999 at 01:45:33:

Bill,

> The REAL context of the question was, if you walking
> “down the [public] street” and saw a quarter lying on
> the ground, would you stop to pick it up? Putting it
> in the context of being on someone else’s property
> makes a big difference relative to the point of the
> question I posed at last week’s seminar.

SIDEWALK! PUBLIC SIDEWALK! That’s nobody’s property! Anyway . . . since this board is kind of restricted to real estate topics, this was my “slick” way of staying on topic. But since I said “sidewalk”, I thought it would be understood that the coin was NOT on private property.

> If I can figure out what “demonitation” means, can I
> play too? 'Don’t know why you had to put a demon in
> that word…do you?

Sorry Bill, that was a typo. What I meant to say was “denomination” . . . y’know, like pennies, nickels, dimes and quarters . . . that kind of thing.

Just trying to see if maybe someone would pick up a quarter, but not a penny. You know . . . the respective values . . . or if it made any difference at all.

If this thread survives the editors, I’ll talk later about our respective opinions. First I want to see how much feedback there is. And which behavior is favored.

Thanks for the illumination,

Brad

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Now…That’s the Medicine! - Posted by Bill Gatten

Posted by Bill Gatten on September 24, 1999 at 12:25:05:

Brad,

Please read and re-read Ray Alcorn’s note at least eleven times (Zig Siglar says that’s how many times you have to “HEAR IT” befo’ you “GET IT”). Ray’s post is probably the singular most important thing I’ve gotten from CRE to date (not to diminish the value of all the rest, of course).

For many years now, my sincerest internal belief has been that I am being tested every single day of my life in order to be able to grow and “be promoted (as it were)” when the time comes. The major tests I appear to be confronted with most often have to do with: my own humility, [unfettered] generosity, personal self-reliance and the “stewardship” of those gifts of prosperity which are constantly handed to me: i.e., that “abundance” Ray referred to.

I will have to admit that until seeing Ray’s comments about it, the concept of Stewardship was grossly confused with the more biblical abstraction of merely caring for and watching over the things of the Earth. I had not related it [in my mind] to the concept of an caring for an individual’s own gifts of prosperity or “wealth.” I have always known that pennies attract more pennies and make nickels, which attract dimes, and so forth (and that’s why I pick 'em up, Brad). But I’ve never really held any of it in the proper perspective until now. THANK YOU RAY!

A good example, and why I’m intrigued by this [new] concept?

A few years ago a dear family friend died and left my wife and me her estate: a large home in Hollywood, Ca.; a massive collection of original art (some serious stuff: Quincy Tahoma, Frank Lloyd Wright, Ynez Johnson, Charles Bragg, Andy Warhol, etc.); 2,000 rare books (some first editions and many signed); jewelry; and a moving van full of antiques. Shortly afterward my wife’s father passed away and we ended up with another storage unit full of “stuff.” Then, a little over a year ago my mother passed on and I, being the only child, ended up with everything she owned (free and clear house, some cash, etc.). 'Sounds like I have it made in the shade, right? Braaaaaap! Wrong answer!

Punch line: Though these past years have been great, 100% of my income has come from my business, my books and my seminars (we did sell a Frank Lloyd Wright portfolio for a few bucks a year or so ago; but we spent the money in about three and a half minutes). The Hollywood house is still in probate (coming up on four years now) the paintings are dirty and in a rented storage unit; the books are in another warehouse (some were damaged by rain when we had them haphazardly stored in our garage at home); and so on… We have sold off bits and pieces of the estate in order to pay the bills, rather than stopping what we’re doing long enough to “Steward” the abundance we were blessed with and with which we’re being tested.

Ahhh, Ray, my friend…you have just helped (and enlightened me) more than you can know. Beginning this evening, those painting will be catalogued and properly stored. Those books will be inventoried and back here within the week, and on their own shelves in my home. The probate will be settled this month: it’s just a matter of coughing up $80,000 cash…choke, choke, cough…(attorneys, you know). We’ll simply re-fi the house and do it.

“When the student is ready, the teacher appears.”

My thanks to Brad for starting this thread and attracting the likes of Mr. Alcorn.

My highest regards,

Bill

P.S. Brad, pick up those pennies! They’re everywhere! (Besides, the bending over will do you good)

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Re: demonitation - Posted by Bill Gatten

Posted by Bill Gatten on September 23, 1999 at 12:09:50:

Brad,

Is that coin to which you refer Heads UP or Tails UP? I think that should be a part of the equation too, Don’t you? Also, is it a shiny coin or dirty one? Is it obscured by an overhang or out in the open (or wedged into a Woodchuck’s butt)? Is it a rainy day or sunny day when the coin in found? Did you mention whether or not it was an American or Canadian coin(or are Canadians really Americans? They do live on the American continent after all…but of course that would make Paraguyans and Argentinians Americans too, now wouldn’t it? Not to mention Nova Scotians and Prince Edward Islanders. Oh never mind. Maybe that part’s not important).

So far, all responses are in favor of picking that coin up…hmmm. Whaddya s’pose the final tally will be? You did write Kiyosaki on this this one, right? Has he responded yet?

Bill

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Re: Now…That’s the Medicine! - Posted by JPiper

Posted by JPiper on September 24, 1999 at 14:48:37:

Bill:

I share your view regarding Ray’s post. I wanted though to let you know that I equally valued your post. As I read your post I found myself questioning some of the areas of my own life, where though I know I have been blessed?..I also know that I have not “stewarded” in the sense of Ray’s comments. If Ray’s comments were a “meal”, your comments were the “dessert”. Thanks for sharing your thoughts.

JPiper

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O.K. . . . Here’s the scoop - Posted by Brad Crouch

Posted by Brad Crouch on September 23, 1999 at 15:56:30:

Bill,

> So far, all responses are in favor of picking that
> coin up…hmmm.

You’re right, Bill. And the reasons given don’t really correlate with either of our opinions. I find that interesting. So I am going to expound a bit on our respective “stances”. Please correct me if I mis-state anything relating to your point of view.

During a recent seminar that Bill Gatten presented, he asked me whether or not I would pick up a coin lying on a sidewalk. I said, “absolutely not!”. This answer has generated lots of e-mail activity and lots of soul searching.

Bills position seems to be that one of the three things that “cannot be taken back” is a neglected opportunity (the other two being a spoken word and a sped arrow). Bill feels that ANY opportunity to enrichen oneself, ought to be taken advantage of. And that the “building of wealth” is important enough that it should include ALL oportunities. I have taken some liberties in explaining Bills mindset, here . . . but that is how I see it.

Myself, I view this activity as being the same as “digging” into the coin return slot of every pay phone you pass, even though I have been told (by people I respect) that this is not the same thing, at all.

I believe that “spare change” should be the last thing we should be concerned with. As Jim Piper said, the “spare change” is not encountered. It must be “looked for” (which indicates a stance of “coming from scarcity”). But even if it is somehow “encountered”, how can we pay any attention at all, to the “scarcity position” that would cause us to actually pick up the coins?

In my experience, folks either have a stance of “scarcity” or “abundance”. I believe that if you allow your mind to even “consider” the concept of “spare change”, you are giving power to the notion that you are in a position of “scarcity”. And that when you are in this position, it is extremely difficult to pass through it and go on to the mindset of “abundance”.

> Whaddya s’pose the final tally will be?

Not sure!

> You did write Kiyosaki on this this one, right?

Right! He teaches about the way “rich” people think, so I think his opinion would be important.

> Has he responded yet?

No.

Y’all take care,

Brad

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Abundance… - Posted by David Alexander

Posted by David Alexander on September 24, 1999 at 20:08:57:

As I pick up my two cents(heads up only though, superstitious, unless it’s more than a dime then I’ll take the risk) I think your right as far as the abundance thing goes and that it becomes obvious in life that you notice opportunity, as opposed to just noticing some change on the sidewalk. I think in the last few years I literally notice more coins lying around than ever before, and regardless of denomination, I think it is the noticing of it that counts, and then acting upon the opportunity that makes the difference. That can be as said earlier leaving them there for a child to pick up or picking them up so you can make another childs life better, each preference has to do with only how you feel you can control outcomes.

And like I said earlier, I’ll take the risk, if it’s worth it (at least a dime tails up, and then I’ll deal with my superstitions)

Thanks everyone for an enlightening post.

David Alexander