Make a Written Offer Every Day – and it does not have to be for real estate
The real key to building cash flow has two sides. The first is to spend less than you make. That’s the defense, and it’s very important to your long-term financial health. The other side of the coin is to make more than you spend. That’s the offense. Let’s face it, you’ll never be able to save money unless you make it. To fulfill the offensive part of your program, you’re going to have to take an active roll in making enough money to be able to save some.
In the house business, there are only three ways to make money: You can sell for more than you paid, rent for more than your holding costs and payments, or lend money to those who will pay you back with interest or a share of the profits. How do you do this? By making as many offers as you can. A simple goal is to make a formal written offer every day by U.S. Mail, Hand Delivery, Email, or FAX to Buy, Sell, List, Lease, Option, Lend, Borrow.
Some people can afford to specialize, only dealing with a single kind of property, but I never felt that I could afford to pass up any opportunity with any kind of property, real or personal. So I cultivated a list of people who dealt in many different kinds of property. These included real estate, mortgage, and stock Brokers, car dealers, jobbers who handled surplus inventories, pawn shops and small loan companies, etc. Anytime I had an opportunity to buy something, I’d contact the one of them best equipped to handle the deal and got paid a referral fee that was usually 20% of the net amount they made. I also paid 20% of anything that I made to anybody who would bring me a deal. This way I could make offers to anyone on anything in hopes of making a profit.
Some of the more bizarre transactions Jack Miller did involved 7 million rail road ties that were eventually bought by the Mexican National Railroad, a ship full of cement lying at anchor in Singapore, a rebar factory in Czechoslovakia, Remainder Estates in Houses, multi-legged tax-free Exchanges, Lease Sandwich positions, Options, Stock IPOs, Tax Deeds, etc. Most of these deals were consummated by other parties, but I got paid part of the profit for putting people in touch with other people.
Some of the bizarre transcations Jackie Lange did involved an 18,000 acre ranch in Terlingua Texas which was sold for the minerals. And 64 mobile homes which were auctioned off to the highest bidder for a six figure payday in less than a week. Flipping web sites for $2,000 to $10,000 profits. A 32 foot Southwind RV which was flipped for a $7000 profit plus saved a seller's home from going to foreclosure. And many other crazy option deals on real estate.
We'd never have made the money we did without letting people know that I was willing to consider everything, and to pass it on.
There are buyers for anything. Become the GO TO person for sellers to make bigger profits every day.
Don't get hung up on needing to buy a house. The objective is to create cash and cash flow anyway you can and as fast as you can. Switch gears to thinking about how fast you can make money… flipping anything. A few $1000 here and a few $1000 there adds up to a lot of money. This cash can (and should) be used to buy cash flow producing real estate with seller financing. There is no reason to use bank financing.
You don't need to wait until you have tens of thousands of dollars saved up to get in the game. Start today by getting an option on anything, then quickly selling it to someone else for a fast profit.
