As do-it-yourself investors, surviving the economic downturn since the 2008 market crash has been very difficult for both David and me. In contrast, as 2012 comes to an end, our sentiment can be summed up as upbeat. Finally! This positive sentiment is based, in no small part, on the fact that, just yesterday, we completed Ron LeGrand’s four-day Quick Start Real Estate School.
The big difference between this event and a number of other prior seminars (conducted by others in the industry) was that we knew exactly what to expect in terms of its content. We also had a clear picture of what we expected of it as well. We knew that we would be able to tie loose ends at this event so that we could hit the ground running at the conclusion of the event.
Between the time when we purchased Ron’s programs at the Equity Trust Networking Conference on 09/29/2012 and the end of the Quick-Start event on 12/16/2012, we did the following:
- Listened to all of Ron’s CDs from one of his prior Quick-Start events.
- They helped us prepare for various scenarios of real-estate issues that people may be experiencing in today’s market.
- Furthermore, we became mentally prepared for what we would need to implement in order to build a foundation for doing a different type of investment business successfully. By “different,” I mean going beyond simply executing the original buy-and-hold strategy.
- Signed up for Ron’s Gold Club membership.
- Had our real-estate attorney review the contracts/agreements for implementing the latest techniques that would help provide solutions to those who are having real-estate problems in Michigan where we reside.
- Had our “buy” and “sell” websites created by a web developer.
- Signed up for a virtual-assistant program.
- As a starter, we will begin receiving buyer/seller leads – without us having to waste our valuable time chasing potential leads that go nowhere.
- For the last several years, I have been reading a lot about the benefits of virtual assistants. In theory, I have certainly known the benefits of delegating tasks. I hesitated to use them until now, however, in the name of cost containment. With a number of successful people in various industries giving credit to virtual assistants for their successes – and with Ron’s push – I was finally convinced that I should take the plunge and start using them.
- What virtual assistants can do for us is limitless. As we become more comfortable with the effectiveness of the first one, it is likely that we will hire more of them.
- Signed up for a mentoring program.
- This is another aspect that I always hesitated to pay for – because it is quite expensive. Then again, we also learned the hard way that not having a coach can be quite costly. For instance, any coach worth his/her salt would have told us NEVER to pay retail for investment properties in any market – even in disaster-hit areas with huge tax incentives. Today, we’re still paying dearly for this mistake. So, again, we decided to bite the bullet and sign up for a coaching program. Come to think of it, there is no professional athlete who competes without a coach. It stands to reason, therefore, that working with a mentor – with a track record – gives us an edge in establishing a successful investment business.
At the Quick Start Real Estate event at the Sheraton in Jacksonville, FL
As the four-day intense training program concluded, we came to understand why Ron commands so much respect in the industry. He was the lead instructor at this event. He also assembled the best team of instructors and mentors for his students. Every one of them had the quality that makes Ron the best in the industry. Their high level of competence, no doubt vetted by Ron, was a given. More importantly, it was clear to us that every single one of them cared about the success of their students.
During a bus tour to evaluate properties on Saturday, December 15, 2012.
In terms of cash flow, we are not yet out of the woods by any stretch of imagination. In fact, by signing up for various programs (as listed above) to make a go of this new business, we went even deeper into the hole. We are not naïve enough to think that simply by attending a seminar taught by the best of the best gurus is going to create some sort of over-night success for us. That being said, I feel confident that, with everything we have experienced as do-it-yourself investors since 2000, we are finally well prepared to come out of the economic crisis in good standing. Ron and his team give us great hope that our financial future should improve significantly in 2013.
Happy Investing!
And Happy Holidays!
Disclaimer: I am neither a financial advisor nor an attorney. My posts are merely reflections of the experiences I have gained as an investor since the year 2000. Before you take any investment actions based on information contained within this and/or any other investing-blog posts, please consult with a fee-only, fiduciary-bound Certified Financial Advisor; a Certified Public Accountant; and/or an attorney who is an expert on the specific investment instrument that you decide to pursue. You are responsible for your own financial destiny.
