Posted by Geoffrey Faivre-Malloy on December 05, 2000 at 18:38:25:
Folks,
I keep seeing this fear of either making money and having someone claim it or the property OR a fear of someone suing you…
Trusts…use em…love em 
Put your property in a land trust. it’s protected then from the bozos that want to sue ya.
And ya know, if ya think about it, the vast majority of us have never been sued…
Can’t go broke making a profit.
G-Man
the real estate “lifestyle” - Posted by Matt B
Posted by Matt B on December 05, 2000 at 11:27:34:
As many of you know, I found this site a couple of years ago and after purchasing a few courses, started doing deals. I even quit my job, incorporated my business, and went into it full time. I made tons of mistakes, but eventually figured out how to work deals on a fairly consistent basis.
Because of a pending divorce, I felt that I was forced to get rid of the properties that I acquired. I then took a job again in my old field of computer support. I took a job with the state supreme court, which would have thrilled me to death a few years ago. Heck, I?m making more money than I ever had at any job. However, I just could not stop thinking that I was simply working for someone else again.
I wanted to at least try to work a deal or two part time, but was afraid that if I started making any money or acquiring any property, my soon-to-be ex would find out about it and want a piece of it. This wouldn?t really be a big deal, but I was more afraid that it would negatively affect my business reputation to have a newly acquired piece of property dragged into court so that me and my wife could fight over who was entitled to how much of it.
I was letting fear stop me from doing anything productive. While that was a big factor, my wife also took our only vehicle, making it almost impossible to get around to check out properties and meet with sellers.
After writing a long, whiny e-mail to Jim IL about how bad things were going for me, I realized that I had a lot more going for me than I realized. I remember when I first started in real estate, knowing very little and having serious doubts that I could actually pull off one of these ?creative? deals. The very first time I called a seller, I sat for about 2 hours and stared at the phone trying to figure out exactly what I was going to say. I?m not kidding. Two straight hours of doing nothing but staring at a phone. After those 2 hours, I still couldn?t pick up the phone and call. It was either the next day or 2 days later that I finally brought myself to make the call.
After working a few deals, I began to enjoy the process of acquiring property. I learned what questions that I was going to be asked, and had instant answers for them. It was almost as though I had handed a seller a script for them to follow while talking to me. I knew from a simple phone conversation if a seller was likely to sign the deal or not.
I just recently realized that I had a huge advantage over so many people who post to this board. I have actually worked deals from beginning to end. I knew how to work the deals, deal with sellers, get buyers, and handle problems that arose along the way. Here I was crying and cringing in a corner, wishing that I could do something when I already knew how to do it. I cannot believe that I have wasted so much time.
Any way, here comes the good part. Today I made 2 phone calls. In the span of 2 hours, I worked a deal and come tonight, if everything goes as it is supposed to and I actually get it signed, I just made myself a handsome profit. It was so easy that I sat back after doing it and thought, ?What the heck have I been thinking, wasting my time, worrying about what else could go wrong, when I already have the tools to work these deals?? It shocked me to think that I had just made money so quickly with so little effort. Then I remembered when I used to do that all the time. (I think I finally get what Ron LeGrand meant when he said “the less I do, the more I make”.)
I remember when I first started reading this board, Phil Fernandez, when responding to someone else?s post, said that real estate investing was not a hobby or even a business. It was a lifestyle. I didn?t quite get it then. By golly, I think I?ve got it now, Phil! I cannot think of a single thing that enriched my life as much as real estate investing has. Even when I was obsessed with learning all that I could about computers because I loved them so much, I can?t recall ever feeling the way that I do about real estate.
I?m on my way back. I won?t be passively sitting by and watching as others work deals. If my wife wants to fight over some new deal I work, so be it. I simply cannot sit idly by any more. I?m addicted. I can?t wait for my next ?fix?!
How about this? I am going to publicly commit to working 10 deals of some sort by convention time. I will be working lease options, flips, subject to?s, and anything else that I come across that looks like a workable deal. That way I can be the one everyone is offering a beer to at the convention!
Follow up - Posted by Matt B
Posted by Matt B on December 05, 2000 at 22:54:08:
I got the deal signed tonight! On Friday I walk away from a deal that took me 2 hours to construct with a profit large enough to buy myself a car to replace the one my wife took. I will be using that car to meet with sellers on another deal that I set up this evening!
Can anyone think of another way to do this sort of thing???
I sincerely regret not being able to post the details of what has happened (along with the dollar amount involved), as my soon-to-be ex reads this board occasionally. However, I will be glad to brag to everyone at the coming convention!
Welcome Back, Matt! - Posted by TRandle
Posted by TRandle on December 05, 2000 at 22:42:04:
Matt,
It’s good to see you posting again. Take care…
Re: the real estate “lifestyle” - Posted by Michigan Andy
Posted by Michigan Andy on December 05, 2000 at 21:18:50:
Dearest Matt & other fellow creative investors:
I, too, was worried about an ex-spouse having knowledge of my REI endeavors. After being in court yesterday, I really don’t care any more what she knows about. I want to be able to walk away from my J-O-B some day, and feel pretty darned confident that I can do it with REI. I think someone on this board said a while back that if you find yourself mostly having discussions about REI, and other people find you pretty boring as a result, then you are a true Real Estate Investor.
I am curious about everyone’s comments about the “Legrand” type deals. I now own 6 properties (18 units), and wonder if I can still be a landlord and hold a full-time job. I spend my days off working on my properties (I actually enjoy them), but want to be able to free up time to go fishing and enjoy my family more.
I am anxious to hear others’ comments about LeGrand, his courses, and what types of deals are the best course of action for me to follow to real wealth. Real Estate, and specifically, this web site (Ed, Terry, JP, Phil etc.) have been very good to me. I would not be able to live the lifestyle that I live if it were not for you folks. You have been problem-solvers and mentors. Not to toot my own horn, but some people see me as that where I work. I aspire to be elevated to the status you guys hold someday.
Regarding the convention, I look forward to being there with you folks. I enjoy learning, and you people give my brain a great workout. I am eager to hoist a pint with you guys.
Any and all feedback welcome.
To your $ucce$$,
Andy
Matt Excellent Post - Posted by phil fernandez
Posted by phil fernandez on December 05, 2000 at 16:43:18:
Hi Matt,
Nice seeing you post again and I look forward to one of those beers at the convention this year.
You certainly have acquired the knowledge and know how on putting these deals together. Alot of times it’s just a case of getting refocused. BTW, Matt has an excellent article in the Money Making section on this site concerning FAQ to the seller of a lease option.
I’ve probably wasted more time than everyone put together and sometimes we need some kind of a kick in the assets to get us going again. Recent case in point for me. A friend of mine has just put a land and mobile home package together that will net him about $40,000 profit next spring when he sells it. And he’s just starting out. After hearing this it didn’t take me long to get down to the recorders office looking for clues to good deals. And I actually found one with great potential. Point of the story is, it’s very easy to get off track for a number of reasons. Staying focused is key here and its something that we all have to remind ourselves of, including myself.
Matt it sounds like you have refocused and I take my hat off to you for that accomplishment. Focusing is the key. We already know you can do the deals.
See you in Atlanta.
Re: the real estate “lifestyle” - Posted by evelyn, florida
Posted by evelyn, florida on December 05, 2000 at 14:32:11:
i too am dragging my feet. Bought the Legrand course( part of it anyway). I am scared to death of screwing up and getting sued over what little I already have. But after reading your post, the hell with it. I am going to commit to doing some deals and to keep reading this board. any idea of how I should start with the least amount of time?
thanks a bunch.
Good luck.
evelyn
Re: Welcome Back, Matt! - Posted by Matt B
Posted by Matt B on December 05, 2000 at 23:14:55:
Thanks. You can count on there being plenty more to come from me! I have just had a major “attitude adjustment” and am back on track!
Re: Matt Excellent Post - Posted by Matt B
Posted by Matt B on December 05, 2000 at 22:47:03:
My biggest regret is wandering so far away from what proved to be the best way to wealth, or at least financial stability for me. That won’t happen again. The lessons that I’ve learned here are starting to resurface in my life. I feal a little chuckle in the back of my throat when people talk to me about the great “cost of living” raise that they just got at work. They just don’t know.
I had a 2 hour conversation with a “rich” guy at work (he just bought himself a Mercedes) today about how lease options allow you to work once and get paid many times. He told me that it just sounded “way too risky”. I couldn’t help but laugh. I used to depend on people with that attitude to send me a check every month!!! I love it when they think that way! More deals ($$$$) for me!!
I heard that! - Posted by Brandi_TX
Posted by Brandi_TX on December 05, 2000 at 19:41:58:
I know what you mean when you say it is easy to get off track… I think I have been on at least 50 different “tracks” in the last year. Some fun, some not.
Sadly enough these tangents have in part kept me from visiting with “yous guys” here at CREO for WAY to long. I sure do miss you guys! God willing, I’ll be able to pick on you Phil (and others) in Bentley’s Sports Bar in March.
Brandi_TX
PS - Anyone remember the name of the EXTREMELY accomodating tar bender from last year? Was it Sandra? Hope she’s still there! hehehe
Re: the real estate “lifestyle” - Posted by Matt B
Posted by Matt B on December 05, 2000 at 22:33:57:
It tickles me that I am able to inspire someone else to take the same course of action that I am taking. As far as wanting to know how you should start with the least amount amount of time, I cannot think of a better source than this web site right here.
I’m sorry if I sound like an ad for J.P and Terry, but they are the greatest people that I have ever met. I don’t know if they will even remember meeting me in person, but meeting them was one of the greatest thrills in my life. How could I not be excited about a couple that have changed my life forever?
I’ll be honest. At times, I have felt like they have ruined my life! I feel that way because they have opened my eyes to a world that I would never have seen before. I cannot ever be satisfied with working a “high paying job” again. I used to feel that was a great accomplishment. Now I look at people who feel that way and think that it would be interesting if they knew the “truth”. The “truth” that I learned a few years ago. Working for someone else will get you J(just) O(over) B (broke). I cannot simply accept a good salary, setting aside what I know I, or ANYONE else can do!
Again, without trying to sound like and ad, pick a course from this site that focuses on what you want to do and get your butt in gear!! Ron LeGrand has a great course for sale, as well as Joe Kaiser, among many others.
When I first began to study creative real estate investing, I was sure that all these courses were just scams to separate you from your money. I don’t know what else to say except that I wish to have a business as dedicated to helping other people as what Terry and J.P have.
Study the materials that you have already bought. When you have questions, post them here. We will all help you. I could not have done any deal without all these people here giving me so much help. To look back and think of the countless people that helped me on my way is very humbling. I can only be thankful that I found this great resource that helped me change my life!