I Was Broke Because I Wanted To Be

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I Was Broke Because I Wanted To Be

When I was forty years-old, a friend asked if I wanted to invest in a commercial real estate deal. He was assembling a partnership to purchase a small retail building. At the time, I was a property manager, and my friend was a broker.

Investing in commercial real estate had been a goal, but my finances were a mess. Unfortunately, I had to wait. I couldn’t admit my poor financial situation, so I simply asked my friend to think about me for the next deal.

That embarrassing moment ignited a desire to be in a real estate deal. But to achieve that dream, there was one thing I needed to do—grow up.

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What are the Poor Four?  And are They Keeping You from Being Wealthy?

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What are the Poor Four?  And are They Keeping You from Being Wealthy?

I read the most astounding paragraph in the June 19th, 2018 edition of USA Today. In Wealth of Millionaires Surges 10.6% to top $70 Trillion for the First Time, David Carrig was reporting on the World Wealth Report 2018 recently released from global consulting firm Capgemini. It was the third paragraph of the article that really caught my attention,

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When The Seller Acts as the Bank

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When The Seller Acts as the Bank

Earlier, I referenced “seller financing” in the acquisition of a property so I figured I should expound on that idea a bit. 

To date, I’ve used seller financing in three personal transactions: two commercial buildings and one residential property.  It’s also been used in transactions where I’ve acted as a broker.  It’s one of the first questions I ask whenever talking to a prospective seller.    

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Growing your wealth? Manage your perspective.

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Growing your wealth? Manage your perspective.

I would like to think I was smart when I was 27 years-old.  I had already served four years in the military, earned a degree from a state university and had just entered the real estate world as an executive assistant earning a whopping $20,000 / annually.  Okay, I didn’t blow the doors off with my starting salary, but I was excited to be learning the real estate game.

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