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Hello all,
I recently upgraded to the premium membership as of a few days ago and I’m very excited to come aboard and give this my best effort and hopefully become financially independent and be able to quit my job in the near future.I look forward to the training’s and information provided on this site.If there is any advice that can be given to someone like myself just starting out please feel free to message me.
Thank you,
William TaylorHI William
Thanks for becoming a premium member of CashFlowDepot!
How to get started is the question that comes up often. The answer is.. it depends on what your objectives are. Do you want to do some deals that will produce chunks of cash or do you want to do deals which will produce cash flow? I bet you’ll say both. But honestly, if you just focus on one thing for at least 6 months you’ll have more success. So pick one: Cash or Cash Flow
Getting extra cash in your bank account will give you peace of mind if your jobs goes away. But the cash flow that comes in every month, even if you don’t work, is what will give you true financial freedom.
It’s kind of hard to get excited about doing a deal that adds $300 a month to your income — but when you do 10 or 20 or 30 of those deals, we’re talking about kissing your job goodbye.
So, my recommendation would be to focus on deals that produce chunks of cash for at least the next 6 to 12 months. But don’t spend all the money you make on shiny objects. Save the money!
The best deals, with the least amount of risks, for producing chunks of cash are:
Wholesale Flips
Highest Bidder SalesWe have training about both of these topics in the premium member training. And I will be adding more training soon.
Once you have a year’s salary saved up, it’s time to switch to doing deals that produce cash flow.
My favorite, risk free, way to do that are master leases or buying houses subject to the mortgage then either renting them out or selling them with seller financing so you get a big down payment plus monthly cash flow without the responsibility of fixing up the house. We have a lot of training about this too and I will be adding more soon.
At the Extreme Success Panama Retreat that we just did, one young couple talked about how they went from zero houses to 40-60 master leases producing about $20,000+ cash flow a month. It only took them two years to accomplish this and they live in a town with only 30,000 people.
Another speaker does a lot of Highest Bidder Sales which produce $20,000 to $40,000 profit per deal. She’s doing at least one a month, sometimes 2 or more.
Finding the deals seems to be the hardest part for newbies so we’re working hard to find the deals for you — see the motivated seller leads section. Plus we’ll be right here to hold your hand and help you get the deals done.
You can do this!!
Jackie
Hello Jackie,
Thank you for taking the time to reply back.The information and advice you provided will be very helpful with taking that first step towards financial independence.I will follow through with your recommendations and keep you up to date on how things are going and if any questions come up,which i’m sure there will be plenty,I will make sure to reach out to you and your staff.
Thank you so much!!
William
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