Doing Success: The Central Online Resource for Acieving Personal and Financial Success
Search for
Advanced Search
Articles   |   Products   |   Authors & Trainers   |   Resource Links

  Build Your Business
  Authors & Trainers
Audio Products
Free eBooks, Trials & Excerpts
General Tips
Real Estate
General Tips
Real Estate
  Resource Links
  Personal Development
  Health & Wellness
  Authors & Trainers
  Featured News

Investing Authors
Search Results
  • Matthew Chan

  • Robert Kiyosaki

  • Van K. Tharp, PhD

  • Peter Conti & David Finkel

  • T. Harv Eker

  • Ken McElroy

  • Diane Kennedy, CPA

  • Darren Weeks

  • Steve Sjuggerud , PhD

  • Dolf de Roos

  • Search


    You are here: Investing : Products : Free eBooks, Trials & Excerpts : Real Estate

    You Can Earn up to an Extra $100,000 This Year in Foreclosures
    By Peter Conti & David Finkel
    Email this article
     Printer friendly page

    Three years ago, Sarah, a student in our Mentorship program, went from being a highly paid executive of the dot-com boom to an out-of-work statistic of the dot-com bust. Whether you’re an executive in the corporate world, a professional person with your own business, or a blue-collar worker with dirt under your nails, you can imagine how scary that reality was for Sarah. Nothing she had learned over the prior 15 years of corporate life had prepared her for the harsh realities of being on her own.

    Sarah vowed that never again would she depend on some job or corporation for her income. She decided to start investing in real estate. A few months after she made this decision, Sarah came to one of our workshops in San Diego. She sat right in the front row and took page after page of notes. Hungry to learn how to become successful investing in real estate, she came up and asked questions at every break. How did things turn out for Sarah?

    During her first 12 months of investing, she completed ten deals and earned more than $150,000 net profit. Today, she specializes in buying preforeclosures and foreclosure properties in her hometown and earns a lot more money than when she first got started investing.

    We’re not going to tell you she had it easy—just as many of you won’t have it easy—but it can be done. And you are the one who can do it.

    Over the past eight years, we’ve been blessed to have helped launch the investing careers of thousands of people across the country. In fact, over that time, our students have bought and sold more than $300 million of real estate. We know we live in a cynical world in which friends and family may say it can’t be done. But we’re here to tell you that if thousands of our students can do it, you can too.

    Mark is a pilot for a large commercial airline who made more than $100,000 from his first foreclosure deal. His greatest dream was to make enough money with his investing that he could quit his airline job and teach high school band classes. Music was his passion and his drive. Mark has now completed many more deals and created a whole new life for himself. If he can have the courage to successfully chase his dreams, you can too.

    Cheryl is a stay-at-home mom who started investing without knowing anything about real estate. She was able to buy 14 properties her first 24 months of investing and now buys more than that every year. She specializes in buying foreclosures in her small community.

    If she could have the faith to step out of her comfort zone and start buying properties, you can too.

    Randy is a beginning investor from Hawaii. He finally found his answer for all those people who kept telling him it couldn’t be done when he made more than $60,000 on his first foreclosure deal. If Randy can ignore negative influences and realize how big the world of opportunity really is, you can too.

    Why the Time Is Now

    There has never been a better time to take control of your financial destiny and get out of the rat race. All across the United States, foreclosure rates are climbing like rockets and bursting onto investors’ radar screens. Now is the time to cash in on these unprecedented bargains for yourself and help other people at the same time.

    Don’t miss out on how big the opportunity is to make money investing in foreclosures. The following indicators have helped drive the foreclosure rate up more than 400 percent over the past 30 years in the United States. And it’s only getting higher.

    Personal bankruptcy rates are up 400 percent from what they were 40 years ago. Gambling as a percentage of the average person’s disposable income has increased by more than 700 percent over the past 40 years. Consumer debt is at an historic high, while savings rates are at historic lows. For the past 30 years, the number of people not covered by health insurance has climbed above 50 percent. (Source: Federal Deposit Insurance Corporation Division of Research and Statistics)

    According to the Mortgage Brokers Association of America, 2.3 percent of all residential housing was in various stages of foreclosure by the end of the second quarter of 2002. That’s huge! The next time you drive to your local supermarket to shop, you’ll probably pass 1,000 homes. Of these, statistically speaking, 23 are in foreclosure. That means in your neighborhood within a few minutes’ walk, two or three of your neighbors are going through the process of foreclosing on their homes. These people need your help; as you help them, you’ll earn a healthy profit.

    Three Biggest Myths about Investing in Foreclosures

    All of our lives, well-intentioned people have stated reason after reason why we can’t or shouldn’t make money investing in foreclosures. But what they told you was only half-true and fully misleading.

    They passed on their beliefs without even understanding themselves how costly buying into these myths could be for you.

    Myth #1: It Takes Money to Make Money

    There you are, sitting in your family’s dining room after enjoying a full holiday meal. You’re a young child; your family is gathered and talking about life. How many times did you see the dreamer in your family get his or her dreams shot down with a bullet like, “You can’t do that. Where will you get the money to do it with”?

    Were you the dreamer in your family who felt the sharp stab from those well-intentioned remarks? Did people who influenced you keep drilling into your head, “It takes money to make money”? Where is this myth written in stone? And if it were really true, how did people like Warren Buffett and Bill Gates start with nothing and build net worths of billions of dollars?

    Peter’s Story

    I started investing while I was an auto mechanic working for less than $15 an hour. Not only didn’t I have a large chunk of investing capital to start with, but my wife and I had two kids at the time. In the home where I grew up, my dad had to work really hard to provide for his wife and seven kids. One day, I reached an emotional low when my boss yelled at me for helping myself to some coffee that he’d set out for customers. That incident gave me the courage to find a way to make investing work for me. Sometimes it does take an emotional low to help you commit to never settling for less again.

    David’s Story

    When I started investing in real estate, I was living in the attic of a converted garage! An injury had just forced me to retire from playing field hockey on the U.S. National team. I was scrimping by on my small savings and finishing up studying for my college degree. That’s when I met Peter and he became my real estate mentor. Over the next several years, he helped me buy dozens of properties using other people’s money.

    It doesn’t take money to make money. It takes specialized knowledge of a profitable niche that you apply with disciplined and passionate efforts over time, taking care to learn and improve along the way. Even if it really did take money to make money (which it doesn’t), no one said it takes your own money to make money. One of the advantages of investing in foreclosures is that it’s easy to use other people’s money to make money. You can potentially tap into thousands of dollars in profits created through buying properties using other sources of funding.

    Myth #2: You Need Good Credit to Borrow Money

    We can hear you saying, “Yeah, but we need good credit to borrow money so we can make money investing in foreclosures.”

    This is true if your only source of funding is from traditional lenders. In this book, you’ll learn seven other ways to fund your way into a deal with someone else’s money—no matter what your credit is like.

    David’s Story

    I’ve had a hand in hundreds of real estate deals—acquiring interest in millions of dollars worth of real estate—yet I’ve only applied for funds through a conventional lender for two loans in all those years. If I can do this, you can too. It’s just a matter of learning the real-world secrets that successful investors have mastered.

    For example, I bought and made more than $100,000 in profits from a five-bedroom, three-and-a-half-bath house. The seller agreed to act as my bank and carry back all the financing I needed to buy that property after a small down payment. He carried back over $400,000 without ever once asking to check my credit. Was the seller unsophisticated? Was I taking advantage of him? No. He had a net worth several times greater than mine (he was a real estate investor in his 70s and I was just 28 years old at the time). He regarded this as a win-win situation.

    When you understand and apply the ideas in this book, you’ll learn that motivated sellers don’t care about your credit; they don’t care about your home life; they don’t care about you, period. They care about getting out of tough situations and relieving themselves of major sources of pain in their lives. And sellers are only one of several funding sources for your foreclosure deals.

    Myth #3: If You Buy a Property from a Seller in Foreclosure, You’re a Shark Taking Advantage of Another Person’s Misery

    This false belief would have you believe that you are out there swindling sellers by sneaking into their home, fooling them into signing documents, and running away with all their cash before they wake up to what you’re doing. Far from it!

    Even if some investors do business that way, let’s make it absolutely clear that’s not how we’re teaching you to do business. When you help sellers in foreclosure, they are thankful for your taking time to understand their situations and finding a win-win way to solve a problem they’re embarrassed and scared to admit they even have.

    Investing in foreclosures is like holding the core of your being up to a mirror. If you are a good person, what reflects back is that you help people and get paid well for doing it. Isn’t that what business is all about—providing value and getting paid handsomely for that?

    The Choice Is Yours

    When we tell people, “Anyone can make big money investing in foreclosures,” most simply shake their heads and walk away. We watch them passing on what might be their best chance to create security and freedom for themselves and their families. They simply don’t believe—or can’t believe—they could be successful this way. They say they don’t have enough money, or that they don’t know how, or that it’s too hard. Sadly, many let themselves sink into “lives of quiet desperation” that so many people lead.

    But you’re different. Something inside made you realize it’s possible for you to create your fortune with real estate. You may not have all the know-how yet, but with the specialized knowledge you’ll gain from reading this book, you’ll uncover dozens of ways to find profitable foreclosure deals and structure them without using your cash or credit.

    We know this sounds too good to be true. But success takes a great deal of study, disciplined action, and willingness to set aside many deeply rooted beliefs you have about wealth. If you are willing to add these three ingredients to the recipes explained in this book, we guarantee you can and will make big money investing in foreclosures.

    Copyright © 2003 by Peter Conti and David Finkel

    Read Chapter 3 of this Book:
    Making Big Money Investing in Foreclosures without Cash or Credit


    Buy It Now:

    Making Big Money Investing in Foreclosures by  Peter Conti and David Finkel

    Making Big Money Investing in Foreclosures, without Cash or Credit

    by Peter Conti and David Finkel


    [an error occurred while processing this directive] Related Articles [an error occurred while processing this directive]
    Top of Page

    Sponsored Links

    Newsletter Signup
    Subscribe to our monthly Newsletter packed with exciting resources on business, investing and personal success.
    Your First & Last Name:
    Your E-mail Address:
    How did you hear about us?

    RSS Feeds >>
    Add DoingSuccess headlines to your website! Using our Webfeed Generator, you can select headline, summary and date styles to match the look of your site.