How to Go From Bum to Billionaire in 90 Days or Less
Here’s the article that shows you how to go from being completely flat and homeless to becoming a billionaire in 90 days or less.
Step 1) You are homeless so find a place to live. Under the bridge or at a homeless shelter or find yourself a friend and ask if you can crash on their couch. (time: two days)
Step 2) Try to get any simple advantage that you can. This means anything from a) requesting a loan from friends and family. b) get social assistance c) find a place where you can get a free meal d) work some temporary jobs e) maybe buy and sell something for quick cash ie: you can buy tickets at a game or something f) finish your resume Resume and put online and print. (time: two days)
Step 3) At this point let’s say you are at least barely stable. You are still unemployed though. So you start applying to work. You can turn it into a challenge to see how many places you can apply and/or interview in each day. Like the world record-winning guiness book for stepping into 500 places a day and interviewing at 10 of those places a day. Like you turning it into a marathon. You are applying for virtually “any job” within your city. Anything from the CEO to McDonald’s. And you’ve set a goal to get a job in one week or less. 2 max. (time: 2 weeks)
Step 4) By this point, not a month has passed and you have a place to stay and a job. You get your first paycheck. By then, your time on your friends couch or homeless shelter is over. So you say goodbye and find someone who will rent a room in the house for dirt cheap. I rented it and moved in. (time: two weeks)
Step 5) With your next paycheck, you buy a used computer and start using it after work. You work 8 hours, sleep 8 hours, and that gives you 8 hours to surf the web. So you use this time to start learning about real estate investing. You just study everything and anything you can find in real estate investing online. Your goal is to become an “expert” in real estate investing. Join all the real estate clubs in the area. Find a real estate advisor. You buy a good course in real estate. You use your commute time to listen to an audio clip about real estate investing, etc. (time: 2 weeks)
Step 6) You start networking with other real estate investors. And make the extra effort to get to know the biggest players in the Real Estate Investment Club. You make some business cards. Exchange with them and get to know them. Trying to get one of the biggest guys to be your mentor. This is done simply by making friends with them. So you start to form relationships.
And you start researching potential investment properties on MLS listings sites online. (time: one week)
Step 7) You keep saving money from your day job, you keep networking, you keep learning about real estate investing, and you keep working on your story. You have now saved enough to start your real estate business. You print some business cards. Buying a cheap $500 car because that would be important. cheap suit. Cheap rustic wardrobe. And you place an ad in local newspapers and online classifieds that says something like: “Earn 10-15% annual return on investment. Your name on the property gives you a 100% guarantee of a safe return. Call 555-555-5555.” (time: 2 weeks)
Step 8) You will start receiving calls from interested investors. You want to find someone with money and good credit. Which you don’t have any yet. When they call they ask “what is this?”. You say, “I’m a real estate investor. I buy homes that make for swings and/or excellent house rents. I have several great investments right now. Can you sit down with me for coffee and I’ll show you a few of them, How’s Tuesday at 3pm?” “. you meet them. You park your rusty old cheap $500 down the block so the customer won’t see it. (Ha-ha) You meet the angel investor (client) and show them some listings you printed out from MLS that you’ve already identified as good investments. You are prompting the customer to put up money and credit to obtain the mortgage. This is part of the investment. Your part will be organizing the heart of the house. So you say to the client, “Look, I’m an expert on this stuff. You put the money down and insure the mortgage on the property, and I’ll do the rest in terms of cosmetics and house flipping. Then once we sell the property, we’ll split the profits 50/50. You show them what the return on investment will be like.” They have a lot more than the 15% you were originally promised. How will they be on the right to the property as a landlord until they are 100% secured.” You also connect with the people in the real estate club offering this deal. You might have to talk to 100 people to find just one person who bites. (time: 2 weeks)
Step 9) You have found your angel investor. Get them to agree to work with you in writing. You get to verify the ability to finance the transaction and obtain credit for a mortgage. Then you find one that would make a great home. You get them to save your down payment money. You link the property. You can have the investor go and meet your mortgage broker to get a mortgage on the property. You can get your attorney to draft the paperwork that also guarantees the end of the project in writing so that when you sell the property you get half of the money. So you and the investor know in writing what your obligations are. (time: 2 weeks)
Step 10) You buy the house. One doesn’t need tons of rhinos. So you mow the lawn, paint the facade, and clean it well. susceptible. Re-register it. And flip it for a very nice profit. After all the expenses, the flop went reasonably well and made a net profit of $40,000. You’re an angel investor who gets $20,000 and you get $20,000. Now that you are a happy angel investor and have some confidence with you, start working with them regularly. You just rinse and repeat. Have them do something else with you. Let’s say on average you are able to make $20k per project. You have 5 swings and now you have $100,000 saved. At this point, you will likely start doing the swings on your own.
Step 11) You use your $100,000 to do your first flip. Find an incredible deal you buy or work with a mortgage broker to buy it for a fixed income mortgage. You flip it and this time you get a full $40,000 in your pocket. You just keep doing it now. Flip 10 other properties. 40,000 x $10 = $400,000. At this point you are converting your operation to a larger scale. You can hire a few junior real estate investors to work with you. You train each of them to go out and find deals. You fund them. They do flipping. And you pay them a fee plus a small commission on the successful face. Now with a team you can do at least one somersault every week. So before long you will see 100,000+ monthly earnings coming.
Well now here’s where it gets interesting…but you have to visit my website to see how the story ends. see you there.
Source by Don Burton