Investing Outside of Wall Street – On being coached, update 2016

I wrote about this topic a couple of times on this website.  Effective October 1, 2016, I signed up to work with a new coach.  This is an open blog intended primarily for him.  Here it is:

 

Dear Coach:

 

When your coaching program produces solid results, as I expect it will, the world will find out about you and your program through my book #2.  I am choosing not to reveal who you are at this time, however, because it would not be fair to you if, for whatever reason, I fail to reach my goal.  In the event of a failure, the responsibility will be solely mine.  By the same token, when I do succeed, I know that it will not have been possible without you and your team’s guidance.

You may be wondering, “Among all of the choices you have, why me as your coach?”  Here is my answer:

    1. First and foremost, just so you know, I’m plenty motivated intrinsically.  So what I don’t need is a motivational expert or to be told how good I am.  Instead, what I do need is someone who is a solid deal maker, who holds me accountable.
    2. You are a known, solid cash closer.
    3. What you do is train your students to bring to you deals that meet your specific purchase criteria.  In essence, you’re teaching us to first become your productive bird dogs and, ultimately, become our own effective wholesalers.
    4. Part of me is having to swallow my pride – big time – to put myself into becoming a bird dog.  The only reason I’m willing to pay for this coaching program – to become your student – is because the perceived, long-term benefit far outweighs my (perhaps silly) pride.  My expectation is that your coaching would help me become a much better wholesaler for a select group of strong cash buyers in our town.
    5. I’ve known for quite sometime that those who know you personally hold you in high regard.
    6. Years leading up to the point of signing up for your program, I have worked with a number of coaches to invest in real estate. Every coach is different, obviously.  In recent years, some of the better coaches truly helped me get much closer to my ultimate goals than the rest. Many of the coaching programs, however, are limited in time; and renewing the contract is so expensive that they literally price themselves out of my reach.  Based on experience, I also know that higher prices do not necessarily translate to helping me get closer to achieving my ultimate goal.  You are making your program affordable; AND you refund double the sign-up cost with my first closed deal with you.  That’s quite an incentive!
    7. Being licensed as a broker in my state, running my own company, and with some closed deals under my belt, I believe that I am much-better prepared today than I ever was to be a good student – as compared to even just a few years ago. For instance, I know, for certain, that:
      1. Without leads, there are no offers to be made.
      2. Without offers, there are no deals to be had.
      3. Without deals, there are no revenues.
      4. And, most importantly, revenues must not only cover costs but result in profits. (Thank you, “Shark Tank” and “Profit,” for reminding us of this business economics 101.)
    8. What I lack is consistency in generating revenues.
    9. What I need is a coach who actually helps me “clinch the deal,” month in and month out, helping make my simple goals become a reality.
    10. Lastly, failure is absolutely NOT an option. So I am willing to do whatever it takes to pave the way for a sustainable business model.

My ultimate goals to be reached by March 2024* are quite simple and basic.  Everything I do is geared toward remaining financially free and independent for the rest of my life.  My interim goals are specified below:

    1. To NOT be dependent on company-pension payments.
      • Why? Because companies are not obligated by law to fully fund the pension fund. I can hope for the best but need to be prepared for the worst.
      • Can You Afford to Retire?” (a PBS program) provides a good explanation of what former employees – fortunate enough to have pension income – need to be aware.
    2. To NOT be dependent on Social Security payments.
      • Why? Because Social Security is already under-funded.
      • You can verify this statement in “A Summary of the 2016 Annual Reports” by Social Security and Medicare Boards of Trustees.
    3. To NOT be dependent on company- or government-sponsored medical coverage.
      • Why? Because Medicare is already under-funded.
      • Again, you can verify this statement in “A Summary of the 2016 Annual Reports” by Social Security and Medicare Boards of Trustees.

To meet the above interim goals, my immediate goal is to close at least one deal every month for 12 CONSECUTIVE months.  When this goal is met, I will give myself permission to publish book #2.  Its tentative title is, “Investing Outside of Wall Street.”  Seeing that I had no deal that closed in September 2016, the clock is being re-set once again.  In addition to other deals already in progress, I am looking to you to help meet my immediate goal more consistently.  Thank you.

 

Reiko McKendry

 

*My original time limit to have sufficient passive income (enough to replace my dependence on pension and Social Security) was 2014, which would have been a decade from my early retirement from Chrysler in 2004. Because of some major unforeseen events, all of which were beyond my control during the first decade, I have allowed myself to extend the time limit by another decade.  These events include another market crash in 2008, and consequent changes in regulations, as well as a house fire from lightning that completely destroyed our house, also in 2008.

 

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Footnote: As of this writing, on a macro scale, the United States of America has nearly $20 trillion in national debt.  This does not bode well for this country.  Whether we like it or not, strength of any individual or nation is tied directly to the respective balance sheet.  I have a deep-rooted reason as to why I chose to come to this country.  Consequently, I expect the U.S.A. to remain strong in the international arena, backed by a strong balance sheet.  The tax burden levied on its citizens should be solely to cover the essentials for defense and security of this greatest nation on earth.  Nothing more and nothing less.

On a microscopic scale, I have been striving toward remaining financially free and independent.  I’m doing my part to, hopefully, be prepared NOT to have to depend on the funds to which I am rightfully entitled through years of paying taxes in this country.  In exchange, I expect the government to not only shrink its size considerably – thereby reducing the cost of running the government – but lower my tax rate significantly as well.  As a starter, I expect the members of Congress to be subjected to the same rules as those imposed on the rest of us.

 

 

 

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