Building Cash Flow Without Cash - Formula 1 Motivation and Education

My little granddaughter just got her first bicycle this Christmas. Now, she lives in the country with limited paved roads or places to make bike riding easier. So when my son and his family came to our house for Christmas they brought along the bike. (We have paved streets in Texas, believe it or not) My son, grandson, and others went out with my granddaughter to get her started learning to ride. They didn't have training wheels so they would walk/run along side to keep her from falling. Watching this really brought back a memory.

I was twelve years old before I learned to ride a bicycle. There were several reasons for this. One was that we lived in the country on a farm; no paved roads. Very few other kids around had bicycles, in fact, at this point in my life I can't remember anybody who had one except town kids. I rode the school bus to town where there were paved streets and kids who had bikes, and believe me, I really wanted to have a bicycle and ride it like those town kids; however, that didn't happen.

Then, when I was 12, my dad moved the family to Liberal, Kansas - a town with paved streets and millions of sand burrs (grass burrs to some). One of our neighbors was a lady who had a bicycle, which I don't think she rode anymore.

Anyway, she let me ride her bike. I was elated, however I didn't know what was coming. So I started trying to ride that bike by myself. No training wheels and no one to hold me up & push me along. I don't know how many times I fell, but as I remember, every time I did, I came up with sand burrs in my hands. That, along with skinned knees and elbows, made me question the wisdom of continuing to accomplish this bike riding. However, I was determined. I finally got to the point that I could stay up; as long as I went straight. It seemed like my hands froze and would not guide the bike left or right. I remember riding straight into a telephone pole. I did learn to ride that bike, then eventually got my own bike. Had a paper route and many other things to go with bike riding.

The point I am trying to make with this boring story is that motivation, which includes persistence, is necessary to reach any desired goal. Nothing good comes without dedicated effort. So how do we apply this to building cash flow without cash? If you are trying to get started in the Real Estate business, or even if you have been in it for a while, I strongly recommend that you get all the education you can about Real Estate, then apply that education. So where do we get this education?

There is an abundance of material available; books, seminars, etc. However, I recommend two things to help you get started. One, if you have a Real Estate Investment Club or group near you, I suggest that you join and attend every meeting that you can. You will find these clubs in most major cities and most of them meet monthly. You will find at these meetings, all kinds of expertise in different aspects of Real Estate. Rehabbers (property fix-up, repair people), Private Lenders, Builders, Appraisers, etc...etc. You can go online to find the location of many of these clubs.

Now if you can't find a club, I suggest that you visit Barnes & Noble and look for books on Real Estate. Here, as in the clubs, you will find many various subjects on Real Estate. I also recommend that if you are new or having trouble getting started, try to find yourself a mentor who will help you; someone with experience in the field in which you are interested.

If you do find a mentor, I suggest that if you are going to use a good amount of their time - that you offer to pay them a fee for that time. I think a good way to do this is to offer them a percentage of the profit you make on any deal that they help you with. This is a great way to go, especially if you are short with funds, which most people will be when they are starting out. So, where do we find a mentor?

The Investment Clubs will have people who are very experienced in Real Estate and they will have people who are just starting out and those in between. I suggest that you watch and listen for a while and you will find the person you are looking for.

Also, it is mandatory that you stay motivated. This is something that requires frequent, if not daily, refreshing. There are several books and other material you can find that provide great motivation; ONLY IF YOU READ THEM. To name a few:

"Think & Grow Rich", by Napoleon Hill - The first book I read; it is a classic.

"The Richest Man in Babylon", by George S. Clason

Or anything by Zig Ziglar.
If you are interested in a case history of mentoring, please contact us and we will send you "The Eddie Nivens Story". This short story is fictional; nonetheless, it is very feasible - especially in today's housing market.

These posts are the opinion of the author who is not engaged in rendering legal, accounting, or investment advice. If such advice is required or desired, the services of competent professional persons should be sought.

Real Estate Consultant and Coach. 40 years in Real Estate, and 15 years member of the "Society of Exchange Counselors". Land Developer, Home Builder & Rehabber, Mobile Home Dealer & Rehabber. Owned Apartments, Office Buildings, Strip Center, Ranches, and Land. Also owned many Seller-Financed homes, as well as bought and sold $200 million + of Seller-Financed paper.
Visit my website http://RealEstateJack.net/

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