It seems there are always questions, questions and more questions as we begin to learn new concepts and approaches to making money. Despite the fact that single family houses represent the least complicated field of real estate, once you begin to spend hard earned money or to use up limited credit reserves, you suddenly become aware of the vast differences between what you should know as contrasted to what you actually do know. The result is that you either plunge blindly ahead, hoping that all will come out well...
It seems there are always questions, questions and more questions as we begin to learn new concepts and approaches to making money. Despite the fact that single family houses represent the least complicated field of real estate, once you begin to spend hard earned money or to use up limited credit reserves, you suddenly become aware of the vast differences between what you should know as contrasted to what you actually do know. The result is that you either plunge blindly ahead, hoping that all will come out well in the end, or you become financially catatonic, electing to do nothing at all rather than to run the risks that uncertainty and ignorance can impose.
Either way, you do yourself more harm than good. On the one hand, by jumping into the fray unprepared you stand a good chance of losing all your capital, and being forced from the field in defeat. On the other hand, you eventually lose by default, because you never begin the long road to fortune building, preferring the relative short term safety of doing nothing even though the consequences are potentially devastating in the long run.
Sometime, decades from now, a few of those who buy and manage single family houses will emerge as clear winners in the game of life and investment. Most of the others will have either gambled on untried skills and insufficient knowledge or experience and lost out, or they will have been content to sit on the sidelines, merely keeping score while others win and lose the game.
I've written this Q & A Manual in an attempt to help bridge the gap between what you know and what you should know. The questions in the following pages were gleaned from among thousands that have been asked by people just like you in seminar after seminar over the past 18 years. The answers are based upon over 40 years of successful single family house investment and management experience. I hope they lead you to as fruitful a career and financial security as they have me.
There's no such thing as a risk-free existence. Everything we do or don't do carries with it the risk that we've made a bad decision. In order to move ahead of the crowd, you have to take a calculated risk, placing your hard earned cash on the line time after time without being certain of the outcome. It's almost impossible to reap uncommon rewards which place you financially well above the average wage earner without risking losses in equal proportion. I ought to know.
I've probably made as many mistakes and lost as much money as anyone in the real estate investment business. Fortunately, each time I've made a mistake, I've treated it as a small but expensive seminar and tried to learn from it. Consequently, I've tried to not only avoid making the same mistake again, but to capitalize on what I've learned by changing what I do in order to turn yesterday's loss into tomorrow's gain.
One of the things I learned over the years was that a single family house offers less risk and more reward for those with less skill and experience than virtually anything else in the real estate field. Financing, acquisition, management, maintenance and liquidation is easier. Opportunity is more wide spread. Choice is broader and more varied. Demand is more consistent, tax treatment more benign, and the learning curve more gentle than with anything else I can find. It but remains for the reader to get started along the yellow brick road to success.
I wish you all well on your quest and hope this book will lead on to the fame and fortune that you seek.
Learn from Jack Miller's 45 years of successful real estate investing experience.
THERE IS A SECRET TO GETTING RICH . . .
Anyone can learn how to get rich, but there's a catch. You have to understand MONEY--Why people spend it? When? How. Where? For What? You have to understand how a little money, plus time, can create a fortune for anyone. Test yourself. Do you know someone who isn't particularly smart or talented or energetic who seems to have made a lot of money, or who owns a lot of property?
My name is Jack Miller. I've been a successful real estate investor in single family houses for 45 years. I've bought, sold, leased, managed, built, exchanged, financed and owned several hundred properties. Real estate is the main source of both my income and accumulated assets, thus, I can speak from years of actual experience.
LET ME TELL YOU A LITTLE STORY. . .
Once upon a time I was 40 years old and out of work. I'd been an executive with a Fortune 500 company with specialized technical skills. Without warning, I suddenly became a casualty of a corporate downsizing. I had two teenagers at home and a mortgage. I'd placed my future into the hands of my employer and felt secure with a retirement plan which would provide enough money for a comfortable lifestyle, recreation and travel. Suddenly I was out of work.
IT'S TIME TO MAKE A DECISION FOR YOUR FINANCIAL FUTURE
If you aren't 100% certain of your future financial security, it's time for you to make the decision to become financially independent. This will be an easy decision! Either you're happy with your lot in life or you're not! Either you've already provided for your family's financial security or you're willing to bet their lifestyle on your employer or the government. It's up to you to take action now before time passes you by.
Wouldn't you really rather control your financial future yourself? You can, as a real estate entrepreneur. Thousands have done it before you starting with little cash or know-how. They didn't have the advantage of being coached by someone who's been where you are now, and gone where you want to go; someone who can make it happen a lot faster than you think possible if you take his advice. It's your choice...
Make that first move to learn all you can about how real estate investing can help you achieve financial independence