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Runum

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Every journey begins with a small step. Then it continues, one step at a time. Some days we have to force ourselves to take the next step. For some, telling others what that step is can be invigorating. It may also motivate others to take that next step.

So, what action did you take today to further your chances of reaching your goals?

Me, I sat down with my 15 yo daughter, who can't wait to get a job, and we laid the plans to develop a small business together. I told her that we, her parents, were raised to think like employees and so we became employees. I explained that she could get a job at any point in her life but now in her life would be the easiest time to experience and learn the business development end. One problem is that she is an A honor roll student and abhors mistakes. My hope is that we make lots of mistakes so she can learn that they aren't terminal. I also investigated 4 REO properties and plan to be making a bid on one or more of them next week.

What are you doing to get out of the rat race?:cheers:
 

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andviv

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Great post.

About your daughter... could you guys enroll together to a RE-related seminar? maybe that format will be ideal for her and she will get more out of it.

What am I doing to get out?
I am working right now in two fronts. One is to put money form investors together to get into big deals. The other one is to work with my investment group to find and buy apartment buildings. Both projects occupy a lot of my free time and I am expecting to see results before the end of the year. The challenge has been trying to remain focused and not get distracted by the dozen of opportunities that are out there. Just reading the amazing stories from people in this forum that have done it through internet based business can be a distraction, as that is not what I am focusing on.
 

kimberland

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Jul 25, 2007
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Oh, good, is this going to be like a daily to do list?

On Friday, I sent Novel 2 to the publisher.
I also finished 3rd edits on Novel 3.
Its ready to go to the editorial service
once she's done with Novella 1.

I'm ramping up on my blogs.
My travel blog is timeless
so I'm posting the pics and stories up to the end of December.
(Right now, I have til the end of October done)
The other blogs, I'm posting some timeless "emergency" stories.

In 2 wks, I'm going back to a corporate gig.
Plus I've started doing some serious promotion for the book launch in May.
With a blog buffer, I won't feel as pressured to come up with content.

Paper is same ol' same ol'.
Picked up some bargains during the correction.

: )
 
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Runum

Runum

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Wow you are busy Kimberland! Way to hustle!

About your daughter... could you guys enroll together to a RE-related seminar? maybe that format will be ideal for her and she will get more out of it.
Thanks for the input andviv. So far, when I have worked my RE deals my kids eyes glaze over. I figured the business idea could be something that would appeal to her. It would be much simpler for her to work with me in RE. However, in discussions that have recently come about, it looks like she is going to have to get a job to really see if she wants to be an employee or not. I guess my experience won't teach her as much as her experience.

One good thing that did come from your suggestion is that I found many continuing education credit RE courses from a local college. Perhaps a chance to learn and network? I also received some new multi family RE listings from an agent I found on Craigslist. Many properties on there I had never seen. What else is out there that I don't know about...only the shadow knows for sure.:cheers:
 
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Runum

Runum

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This evening I sent an email to my RE broker to put a bid in on 2 duplexes. I am also working on 2 refi's at the moment. If everything goes well it puts me one step closer to not returning to teaching next school year.:cheers:
 

andviv

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:hurray: :eusa_clap: :hurray: :eusa_clap:
:hurray: :eusa_clap: :hurray: :eusa_clap:
:hurray: :eusa_clap: :hurray: :eusa_clap:
:hurray: :eusa_clap: :hurray: :eusa_clap:

Man, you made me jealous.
I will call today my mortgage broker to work in the financing part of one of my deals. I've been delaying this call for a couple of weeks now, but you just motivated me to do it now.
 

yveskleinsky

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Tomorrow I meet with my SBA guy (he's a hard core S so I have to cool my jets somewhat when I explain all my plans) to discuss SBA loans/grants. He has told me before that there are no such thing as govt. grants- is this true?

I am also meeting with my computer guy to work on developing two ideas I have. The first is for some kick butt vacation rental software and the other is for a project I'm in the initial stages of creating. I need to do a market analysis of the second project- my idea may already exist, although if it does it isn't done well and I've never come across it- even though I've been looking for it!

My dad emailed me today that he sent me a check for $8k to go toward a property. I emailed him back and told him that was totally unexpected, (and wonderful) but that I would like to treat the money as a loan (amortization schedule- the whole but) so that way I could hit him up for more money down the line and have an established financial relationship with him. :driving:

...I also emailed my bosses yesterday saying that I need to get weekends off. I have been putting this email off for a long time now as I've been afraid of them saying "no", me saying "I quit", and the security of a paycheck gone. I was bummed all night last night, and then decided that I would make it work if I had to quit. If I am ever going to move over to the B/I side of the quadrant I need to jump- my whole approach of going in slowly is safe, but it is hard to build up speed! Anyhow, I emailed my dad and proposed going into a partnership with him where he put up the money and I put up the time and effort getting a property vacation rental ready- then we could refi him out with money plus some or would could split 50/50 down the road. I hope he says yes, as there is nothing I would want to do more right now than rehab cabins in the mountains. ...I think I was a hippie-construction worker in a past life.
 

andviv

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yveskleinsky you are moving fast!!!

About the email to your bosses, I listened to that MP3 about the 4-hour workweek posted in here http://thefastlanetomillions.com/showthread.php?t=189 where the author mentions a plan to start freeing yourself from your work. I thought of this strategy as soon as I read your post.
the MP3's link is
http://audio.sxsw.com/podcast/intera...urWorkweek.mp3

When meeting with the SBA guy remember that his job is to offer loans to a business. Try to approach that meeting from the perspective of a business owner that needs the money to start/grow your business, not to fund a Real Estate deal. And yes, he is a S, but he holds one of the keys to your jump to the B/I side. so, repeat after me: "I'm a business owner", "I'm a business owner", "I'm a business owner".
so, what is your business?
 

RAiMA

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Getting two business structures in place for share trading (personal and super)

Doing market research on the stock market to locate the opportunities

Getting my personal finances in order to build wealth. Recently cut a $24k credit card limit from 2 cards

Reduced expenses/spending

Raising capital through OPM via a family member. Borrowing against equity

Selling car to raise additional capital

Developing two online turn key businesses, one through a joint venture

Learning about wealth creation in some form every night

Going to Anthony Robbin's Unleash the Power within 4 day event next month ^^ Looking forward to the firewalking ^^ Will be my first time ever goign to the event :)
 

Peter2

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Aug 2, 2007
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Tomorrow I meet with my SBA guy. He has told me before that there are no such thing as govt. grants- is this true?

Would-be entrepreneurs often ask: Where can I get find grants to start a business? And, sadly, some of these individuals pay big money to attend business financing seminars that travel from city to city talking enticingly about “free†government money for your business. All you have to do is pay these folks up front and they will fill out some paperwork for you to apply for these “grants.â€

Trouble is, the rare few that are available are so highly specialized in research fields that the odds of getting them are astronomical. In practical terms, it is a dead end. Forget about government grants to start a new business. It won’t happen.
 

nomadjanet

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Aug 28, 2007
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Today I set up appointment for property closing for next week.

Contacted my TAX person for appointment for processing of LP return, we have an extension to sept 15 and I have almost all my paperwork ready to be transmitted so contact to set up appointment.

set aside time to pick up my grandkids & play grandma for the evening so my daughter can take a night class.
 

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S928

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Since it'll be a while until I can join the B/I crowd and because my employer pays all of my tuition, I'm starting school next week. As on of my prof. stated: if not education, then what? I agree with that statement; degree not required, but knowledge is always welcomed.

Another thing, more on the creative side: I've targeted an awesome business opportunity in my hometown. I'm talking about a franchise, that would be a total hit and it requires a semi-low startup. Currently looking at financing.
 

yveskleinsky

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Andviv-
My business is property mgmt for vacation rentals. ...I like how you mentioned the shift that I need to do in how I present myself to the SBA people- "I am a business owner". ...Well, as follow up- I met with the SBA guy and he wasn't much help. I went over to my neighbors house that night (she is awesome...and the president of a bank...and in charge of the commercial lending division!). She gave me the name and number for the guy who does their SBA loans. I also met with my boss- it was a weird meeting. He wants me to figure out my priorities, as in- are they #1? I have done a lot of thinking about this- and have come to the conclusion that my husband and cabins are #1,#2 and my job is #3. I still need a paycheck (I think...I need to go over some math and find out more about commercial loans- because maybe I don't need a job) and I will be a great worker for them during business hours. Outside of business hours it's all Kyle and cabins! ...I am going to start another post the documents the journey with aquiring more cabins. :driving:
 

Bilgefisher

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-I made a huge leap yesterday. I dropped all my classes.
I did some soul searching recently. I discovered that I am taking classes for a 2nd degree which I don't want and don't need. While one class was mildly entertaining, the other 3 are like fingernails on a chalkboard. I have also become frustrated with our higher education system. (no need to go into that here)

-When I called my folks and told them they were cautiously supportive. I called my buddy and we went over to their house and played cashflow. I think they finally understand what I am trying to do. This was huge for me. I think having family on your side is instrumental.

-My business partner and I sat down and started scouting out potential housing areas we want to farm.
 
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Runum

Runum

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It is so inspiring to hear what you all are doing day to day with your aspirations. It won't always work out the way you want it to but you keep persevering and figure out another direction.

Today I had to attend to some plumbing problems with one of my houses. Going to have to consult and maybe hire a plumber to resolve this problem. I also looked at another house and triplex. The house is occupied but the triplex is vacant and possibly an REO. While I was at the triplex I smelled natural gas so I had to call 911 and the fire department came out. I gave them my info and promptly left. I am going to keep my eye on that opportunity, it pan out in the future.

The deal with the 2 duplexes is still pending and I should know something for sure in the next couple of days.

I also bought a used cash truck so I can use it to service my rental properties. This has been a need for many months and I have just been getting by.

One step at a time. Good luck to all.:cheers:

Oh yeah, I forgot, IT'S PAYDAY! I love the first of the month!:thumbsup:
 

NerdSmasher

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Aug 31, 2007
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Runum, that's fantastic, what you're doing for your 15 year old daughter is so great. Though, I should add, don't force her into business just because you want her to be wealthy and successful like you. I'm sure she'll learn to invest and always have enough money to at least be comfortable in life.

I sometimes wonder what my life would be like if I had parents who were business owners, and investors rather than just employees. I love them dearly, but I've had to learn everything on my own, and still do. That's where my daily accountability is so important. I am accountable for everything I've done, know, and am doing right now. I am quite proud of where I am, and I'm continuing to advance, but it's always annoying... especially where I'm at, having to deal with not only peers who think that things can't be done, but parents who want me to go to school and get a college degree, and a good job. As well as other things. They're supportive of what I'm doing, and learning... but still seem to be firm on getting a degree and a job *sigh*

All I can do is continue to move forward... until I can move out when I'm 18, at which point I'll begin investing in real estate, and ideally have a nice chunk of money with which to live off of, and make more money with. Only time will tell.
 

yveskleinsky

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My parents were both high paid "S" people. I grew up around "S" businesses. Let me tell you, my childhood was lonely. My parents worked like dogs and I rarely saw my dad. My dad still operates from the mentality that "if you don't work 100 hours a week in your own business you are a bum". ...Although he is starting to see the light- and investing in commercial real estate. :)

The point being, that the grass isn't any greener. It is easy to think that others have some sort of advantage- and really none of us do. Look at the sticky posts and you'll see lots of highly successful people and what they had to do to get there. ***Anything anyone else has done, you can do too- you just need to find out what they are doing and role model the steps they take.
 

andviv

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Bilgefisher, just out of curiosity, now that you dropped your classes, what are you going to do to put food on your table and a place to live in? I've seen this reaction many times before, and the results sometimes are not positive. Why? Because they are an impulse, not a well-thought plan. I just write this as a caution, and I sure hope you are 100% clear on what you are doing next.

I remember Kiyosaki saying he had to write a book called "Before you quit your job" to try to address the many cases where people just finished reading Rich Dad Poor Dad and then went and quit the next day. Guess what happen? Failure.

Your soul searching is just the first step. Now you have to work like a madman in your plan. Transform the ideas that you came up with during the soul searching phase and start creating steps and milestones you want to achieve in your path to financial freedom.

Back on topic... finished making some financial adjustment to fund my latest investment. I should have the last $10K of my deal ready by Wednesday or Thursday.
Also, I need to have a conversation with the mortgage guy to define the next steps to get more cash in my finances.
The other step, I've been thinking a lot on how my next deals are going to happen now that I ran out of investment money. Challenging and exciting, but hey, anything that I get back would be Infinite Return as would not be any of my money. Making money without any of my money, that is my next step.
 

TNT

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Aug 31, 2007
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Runum I think what you have talked with your daughter about is great but yes you are going to have to let her make her choice to get a job. What you have done though is given her an option. She knows that she does not have to stay in some job working for someone else. She will see the light because you have shown it to her. So many kids do not realize this and think they are stuck in a job. I wish you the best and also for your daughter.

Talmadge
 

AJGlobal

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Every journey begins with a small step. Then it continues, one step at a time. Some days we have to force ourselves to take the next step. For some, telling others what that step is can be invigorating. It may also motivate others to take that next step.

So, what action did you take today to further your chances of reaching your goals?

Me, I sat down with my 15 yo daughter, who can't wait to get a job, and we laid the plans to develop a small business together. I told her that we, her parents, were raised to think like employees and so we became employees. I explained that she could get a job at any point in her life but now in her life would be the easiest time to experience and learn the business development end. One problem is that she is an A honor roll student and abhors mistakes. My hope is that we make lots of mistakes so she can learn that they aren't terminal. I also investigated 4 REO properties and plan to be making a bid on one or more of them next week.

What are you doing to get out of the rat race?:cheers:
Great post !!!!!!!!

I too have a daughter and she is 12. Also have an 8 year old boy who can sell you on anything. His mom and I laugh our asses off at some of the stuff he says and if you didn't know him or what he was talking about, you'd believe it. I sat down with my daughter months ago and explained to her what was invloved with earning money and the value of the dollar. She had just started babysitting her brother and this was her first REAL paying job. She has done quite well and is becoming motivated to figure out other ways on her own to make money. My 8 year seeing this and hearing our conversations has picked up on this mentality and is constantly asking if he can come to the office with me so he can earn some money or to do something around the house thats out of the ordinary. Let me tell you, he comes up with shit I would never think an 8 year old would think of. I'm pretty happy with the results I see in them so far and to top it all off, about 3 weeks ago him and I were riding in the car talking about money and what I do and he looked at me and said "Dad, I'm gonna be just like you when I grow up" Talk about making my day !!!! or should I say decade. That was priceless and it took everything I had to not let the tears roll down my eyes. :)
 

Bilgefisher

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Bilgefisher, just out of curiosity, now that you dropped your classes, what are you going to do to put food on your table and a place to live in? I've seen this reaction many times before, and the results sometimes are not positive. Why? Because they are an impulse, not a well-thought plan. I just write this as a caution, and I sure hope you are 100% clear on what you are doing next.
Very valid points. I have no family to feed and I have plenty of reserve funds in the bank (6+ months). I am living minimally atm. I spend less then $1000 a month (bills, food, etc).

Also, I only dropped out of school, I didn't quit my job. Working and school were really draining my time. I already have a degree in Nuclear Engineering. The degree I was studying was Environmental Engineering. I can also fall back on that or my previous military experience if need be. I have many outs if this doesn't work.

My current plan is to switch jobs. I want to work in the same type business my partner and I are planning to acquire. Does this mean a pay cut. Yes, but its temporary and I will still have enough to cover the bills and then some.

I do not argue it was slightly impulse (least it felt that way), but I did do most of my research before hand.

I do thank you for bringing up these points though. It is nice to see folks on this forum are looking out for others.
 

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andviv

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Bilgefisher, I can see why you wanted that second degree... nuclear and environmental engineering combined sound like a great match. I'm very glad to hear you do have a plan. Definitively, soul searching is needed to be able to find the goal we are going after. Finding your BIG WHY is critical.

I had to take a similar decision last year. I was killing myself working 40 hrs per week, plus other 12 or so hours spent in commute, plus attending one or two nights a week my classes for my masters degree in Information Systems. After a couple of tough semesters I started thinking why I was taking these classes and came to the conclusion that I was trying to get a degree that will make my resume look better. guess what? Being a better employee is not my goal, so I dropped it. I stopped taking classes. I am a year away of getting my masters degree, but I jut don't want it as it does not aligns with my life's goals.

Back on topic... Done. Got the $10K that I was needing and I will be doing the transfer tomorrow to seal the deal. Next? I don't know... I think I need a break for the rest of the week so I can focus on selling one of my investment properties --its time has come.
 

kurtyordy

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Aug 28, 2007
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Today- passed 250% ytd stock investment, pulled some money off the table.

met with business partners about construction for new retail location for our products

got a call that another person is almost ready to give me 10k to manage for them. To date one for 10k, one for 40k, and 3 look and seeers.

sadly i did not work on my websites, I need a kick in the behind on this one.

came up with a great idea for a youtube marketing campaign for my jar products.

contacted the charity involved with my planned charitable sales promotion.

got my first rep on a post.:fastlane:
 
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Runum

Runum

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Hey guys I finally closed the refi I have been working on since June. The 2 duplex deal fell through but I am doing my numbers on several other multi family properties. I have positioned myself to take advantage of RE buying opportunities. Good luck to all.:cheers:

Greg
 

nomadjanet

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Friday: closed on last lot in development; dp money in bank; note filed.
FINALY got our previous residence on the MLS, this has taken FOREVER.
Pulled list of 5 properties to look at for next development possible.
Wrote plan for 3k to 1mil in 15 months, started research for "product" emailed tech person to set up meeting.
Signed checks at plumbing company & approved payroll report for accountant to complete payroll.
 

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