| Before we get on with the training I think that it | | | | abundance? Do you want to pay off the |
| is very important that we go ahead and blow-up | | | | mortgages of people like Warren Buffet? Or do |
| some of the most common investment | | | | you want to have someone else pay off your |
| strategies that are out there. | | | | mortgage like Warren Buffett did in high school? |
| 1) Diversify your savings into an IRA by paying | | | | Are you ready to get after it and begin doing the |
| $150.00 per month until you tour 65. Then one | | | | uncommon things you have to do to become |
| day when you're in your 60s (if you live that long) | | | | successful in your investments? Do you want to |
| you will have $3,000,000. I take issue with this | | | | travel when you want and work when you want, |
| idea for a variety of reasons, but here are my | | | | or would you like to work for the weekend for |
| biggest issues with this investment theory. One, | | | | the rest of your life? If you don't have the strong |
| you might not live that long. We could all get hit | | | | desire to succeed then stop reading this. If you |
| by a bus tomorrow. Two, you will need that | | | | are ready to grow to next level, then read on. |
| $150.00 that you are investing per month to build | | | | However, quick word of caution. Their are |
| your own business. Three, if you would rather | | | | growing pains ahead. |
| invest in a business that you have no ability to | | | | I have a strong desire to invest, but what should |
| control, what does that say about your faith in | | | | I invest in? |
| your own abilities? Four, I have never met a | | | | If you have a strong desire to invest, but you |
| millionaire (and I have worked with many | | | | don't know what to invest in, you are not alone. |
| millionaires) who told me that their financial | | | | Their are millions of Americans in the same boat. |
| fortunes were built through diversification in | | | | It's ok, just don't stay in this boat. |
| mutual funds. FIve, inflation will eat the value your | | | | If you are like many new investors you might |
| dollar. You could by a new house in the 70s for | | | | find yourself wanting to invest in this great IPOs |
| $50,000.00 an now that same house will cost you | | | | that you have heard about. Or you might want to |
| $200,000 today. What will $3,000,0000 be worth | | | | invest in an office building. However, there is a |
| when you are 65? | | | | problem here. For most of you reading this, you |
| 2) Buy a stock, hold it and pray over it daily. This | | | | can't. |
| whole idea is based on insanity. This whole | | | | The government will not allow you to invest in |
| concept is based on gambling. Investing is not | | | | many of the best investment deals that are out |
| gambling. If your game plan is to sincerely look for | | | | there. Most people are not aware of this, but if |
| a good stock and then bet everything you own | | | | you are not an accredited investor the |
| on its success or failure, you are delusional (unless | | | | government will not even allow you to invest in |
| you are the CEO of that company). This form of | | | | some of the very best deals. Why? The |
| investing will leave living in fear of the next crash. | | | | government believes that you will not have the |
| The truly wealthy people in our country make | | | | ability to know what is a good or bad investment |
| money in boom or bust cycles. Rockefeller grew | | | | unless you are an accredited investor. If you |
| his influence, his land holds and the size of his | | | | would like more information on this, I highly |
| business exponentially during times of great | | | | recommend that you Google the Exemptions |
| economic turmoil. Friend, cash is king. When people | | | | from the Securities Act of 1933. Basically here is |
| get tight on cash, they will sell you their $6,000 | | | | a rough run-down of what that act says (mind |
| entertainment center, TV and couch for $500.00. | | | | you, the government changes their mind alot): |
| When people are running low on cash they will sell | | | | 1) You are an accredited investor if you have a |
| you their house for what they owe, not for what | | | | net worth of $1,000,000 or more. |
| their home appraises for. | | | | 2) You are an accredited investor if you have |
| 3) Invest in this one guy I know. I hear he buys | | | | earned $200,000 or more in each of the most |
| houses. This idea is insane too, but their are | | | | recent years (or $300,000 jointly with a spouse) |
| people using this strategy daily to invest their hard | | | | and have a reasonable expectation of reaching |
| earned dollars. My friends do not invest in a guy | | | | the same income level in the current year. |
| you know, who might or might not be legit. If this | | | | My friends, most of the great investments that |
| guy has corn-rows and drives a beamer, the | | | | are available to accredited investors require |
| chances are that he is not legit. If this guy does | | | | minimum investments of $50,000 or more. Thus, |
| not have business cards, the chances are that he | | | | as I said earlier most people reading this will not |
| is not legit. If this guy uses a gmail account as his | | | | be able to invest in the office building or the next |
| primary investment email address, the chances | | | | big IPO. However, I think that we should not |
| are that he is not legit. If this guy does not have | | | | focus on the financial qualifications needed to |
| an investment company, the chances are he is | | | | become an accredited investor. We really need to |
| not legit. I don't care if you have gone to church | | | | focus on the mental qualifications needed to |
| with him for 30 years or if someone that you | | | | become build enough wealth to become an |
| know said that they knew someone who knows | | | | accredited investor. To become an accredited |
| him through and investment that someone might | | | | investor, you will need the following assets / |
| have made with him back in day. Do not invest in | | | | personal tools: |
| people that do not have verifiable financial | | | | 1) Practical Education - Skills pay the bills. What |
| statements that can and will openly show you. | | | | can you do that people are willing to pay for? |
| As we begin to delve into this course with a little | | | | "Knowledge without application is meaningless." - |
| more intensity, I want to give you a quick real | | | | Thomas Edison |
| estate investing tip: If you want to build profound | | | | 2) Experience - You have to know the financial |
| levels of wealth, just ask everyone that you | | | | terms. You have to know how to negotiate. You |
| know what they are doing and then do exactly | | | | have to know how to work with a bank. You |
| the opposite of what they tell you. Most people | | | | have to know how to find the good deals. You |
| will never become rich because they have | | | | must have experience. |
| become completely convinced that their way of | | | | 3) More Cash Than You Need - You must have |
| thinking is the best (and it does not work). Most | | | | more cash than you need to live on to invest. If |
| average people will sit around thinking that they | | | | you make just enough money to afford your |
| should find ways to play it safer and safer so | | | | Lexus payment, your huge house payment and |
| that they do not lose their wealth, the rich | | | | your wife's manicures then you are never going |
| continue to think about how they can continue to | | | | to have enough cash to invest later. |
| earn and learn more and more skills that will pay | | | | So how to you go about acquiring these assets |
| the bills. The rich know that skills pay the bills and | | | | and personal tools? |
| that the more skills they have the more money | | | | If you want to gain practical education, you must |
| they will earn. The rich are constantly looking for | | | | work in a hands-on mentorship or intern |
| more and more ways to earn more and more | | | | environment. Find a wealthy investor and go to |
| money so that they can have more and more | | | | work for them, even if that means working |
| money to invest. | | | | without pay. How much are most people willing to |
| Rich people have much for dynamic and flexible | | | | spend on a college education today? $40,000? |
| thinking about the economy. When the economy | | | | $50,000? $100,000? $20,000? Really? So people |
| struggles the rich begin to salivate as they think | | | | are willing to pay $20,000 for school, but they |
| about all of the deeply discounted assets they can | | | | aren't willing to work for free for America's |
| buy. How low did Bank of America's stocks fall? | | | | wealthiest people? That is true. How did |
| How much money was made on the rebound by | | | | Rockefeller get his start? He went to work for |
| America's wealthy. As the average investor was | | | | free as a bookkeeper in Cleveland. This |
| pulling his money out and running for the hills as | | | | employer's promised to pay him after his first |
| the Dow Jones Average dipped lower and lower, | | | | month of work, IF HE DID A GOOD JOB. |
| the rich were waiting for the economy to bottom | | | | How did Andrew Carnegie get started? He |
| out so that they could begin to make their big | | | | started out working for FREE at his dad's factory. |
| buys. | | | | How did he learn to use the telegraph machine? |
| Are you aware of Warren Buffett's investment | | | | He worked for free. How did P. Diddy, Sean |
| philosophy? Warren has said and will continue to | | | | Combs, Puff Daddy (whatever you want to call |
| say to anyone that will listen, "Be fearful when | | | | him) get his big break. He went to work for FREE |
| the market is greedy. Be greedy when the | | | | as an intern? My friends you have to work to |
| market is fearful." | | | | learn, not just to earn. Your priority should be to |
| Why is that? Why would Warren say that? | | | | LEARN, not just to EARN. |
| Warren says that because Warren is a billionaire | | | | If you want to gain experience you must actually |
| investor. Before Warren was a billionaire he was a | | | | invest in a property. Do I mean that you to |
| self-made millionaire. Before he was a self-made | | | | invest in something that might not work? Yes. Do |
| millionaire, he was the college kid who was | | | | I mean that you have to actually take action? |
| aggressively spending his time trying to learn as | | | | Yes. My friend, to quote the great John Wooden, |
| many investment skills as he could possibly | | | | "Nothing works unless you do." You must gain |
| acquire. Before he was the college kid trying to | | | | experience. You have to get street smart, and |
| learn investment skills, he was the high school kid | | | | the best learning lessons you will ever have |
| that owned land that he leased out to a farmer | | | | usually follow the biggest failures that you will |
| who paid him a monthly amount to use his land. | | | | ever experience. Gaining experience is critical. |
| Think about that. In high school, as a pimple-faced | | | | If you want ever have more cash then you need, |
| high-schooler Warren Buffett new more about | | | | you must have a total liquidation. You must get rid |
| investing than the 50 year-old farmer who was | | | | of those car payments. Rich people do not have |
| leasing the land from him. Warren was letting the | | | | car payments. You have to cut nearly all of your |
| Farmer work hard to earn his money. Each month | | | | unnecessary expenses to get in the game. If you |
| as the Farmer mailed in his lease payment, he | | | | have cable that you don't watch, cancel it. If you |
| was paying Warren's mortgage. | | | | buy a $2.00 coffee before work every day, you |
| So before we begin, I want to ask you this | | | | have to stop that habit. You will need that cash |
| question. Do you want to be average or do you | | | | very soon. If you don't have any cash you |
| want to be profoundly successful? Do you want | | | | cannot win. To paraphrase the success author |
| to work at a job you don't like for the rest of | | | | Brian Tracy, if you do not have the self-discipline |
| your life while diversifying so that you can retire | | | | to save money then the seeds of greatness are |
| on a tight budget or do you want to live a life of | | | | not within you. |