November 2009 Archives

The last episode for November and absolutely my favorite so far. It is the FiredUP Dads episode really. We talked about the things that we want to teach our kids about money, responsibility and real estate investing.

When you are done with the turkey and shopping and want to take a breather on Saturday or Sunday - lock yourself in the bathroom or the basement with a pad and a pen. No laptop, no cellphone, no email.

And ask yourself what is the ONE thing that you would love to have in your Michigan real estate investing business in 2010? Not 10. Not 2. Just ONE.

And then write the 2-4 things you need to start doing in December to make that target go all red by January.

If doing your first deal is THE ONE THING you want in 2010 - go and talk to the successful REO broker in your target county, run ads on Craig's List for short sales, figure out where the money is going to come out so by the time you pull the trigger on it in January - the groundwork is already one.

If lining up private deal partners is THE ONE THING you want to do in 2010 - write down exactly what will you say to a prospective partner and how will you say it, who are the people in your life already who have no idea about your plans to buy and sell Michigan foreclosures, and write an email to introduce them to your business. Then hit Send on Jan 1st.

I can go and on here but you get the idea. There is always 'that one thing' that starts off the chain reaction in any business. The first deal, the first flip, the first private partner, the first short sale, the first 20 unit building. It brings check, confidence, and new people in your life that make interesting things happen.

But before you can do get to that - you got to know what it is that you want above all?

I cannot help you. Nobody can. But a pen and a pad and 30 minutes of clarity in a basement are the recipe that seems to work for me.

Also I don't say it enough, thanks for reading MarkIjlal.com - it would not have existed for five years and counting if you were not reading.

Happy Thanksgiving

This is from The War of Art, an extremely interesting book I just finished reading by Steven Pressfield. It took me, like a good book should, to the time where I was nervously thinking about doing something, anything to get out of my job in the retail business. Standing behind the sales counter, waiting for customers to walk though the doors to buy cell phones, I hated the all glass walls that made up the storefront. You could see the traffic passing by on the always busy Washtenaw Avenue in Ypsilanti / Ann Arbor area and I always said to myself, that this is not a car that is passing by the store, but my life passing by. Best years of my life, 25-30, working for almost nothing, 12-14 hour shifts and in the end nothing to show for all those days: no skills, no money, no happiness.

But my choices were limited and I just played the card I got dealt as best as I could. What amazes me are the folks surrounding me who apparently did not had to move 9,000 miles away, speak a different language, learn how to drive a car etc. but yet they still stand frozen in unhappiness and not getting their dreams started. I used to think it is fear. Fear of losing money. Fear of losing respect in front of your loved ones. Fear of giving up what is known to you in exchange of learning and doing new things ("What! Why do I need to learn about Facebook? I have business cards already.").

Here is something I recently did. I wrote down everything I used to be scared to do around five years ago. I mean shaking-like-a-leaf-what-if kind of fear. What is on that list is not important but you might be interested to know that I have done and still doing every single thing on that list. Not even one missed. Also every single item crossed off on that list has brought an increase in my income and net worth. That was strange to read.

I really did not get it how can this be till I read The War of Art. Pressfield writes that the fear we have is actually a lighthouse, a guide to what we should be doing, and preferably as quickly as possible because that is where our happiness is. Owning a business, doing real estate deals, writing a book, helping others achieve their dreams ahead of ours... whatever is the thing that scares us the most is our true calling. What you and I should be doing every day. Starting from today. Not tomorrow. Not the weekend. Today.

Pressfield begins with "There is a secret that real writers know and wannabe writers don't, and the secret is this: It's not the writing part that's hard. What's hard is sitting down to write. What keeps us from sitting down is Resistance."

How many times have you thought about starting a business, late at night when you just could not sleep even when your job was starting only a few hours away, only to put away that dream with the rising of the sun by telling yourself, "I will start looking into it by the weekend" or "Lets plan it and I will launch it once the recession starts to end." How many times did you think about investing in real estate, about actually picking up the phone and making an offer or going and meeting an REO broker and then said to yourself, " Lets wait till next week when my schedule is a little light." Or " I can't do it right now, my kids are too young. Once they grow up a little I will have more time to go and look at houses."

That little voice you keep hearing in your head. That is not logic. That is Resistance and it is out to get you and your dreams and kill them slowly with great precision. Resistance is not happy when you try to improve yourself or try to find happiness in what you want to do. What Resistance wants from you is you to do nothing and put away your dreams of owning your business, investing in real estate, finding pleasure in what you do to make money. Resistance wants you content outside and miserable inside. Resistance wants you stay in the job you hate, making the money you know in your heart is nothing to what you are truly worth, doing things you don't care about anymore. You are not letting Resistance win in 2010... are you?

FiredUP guys talk about failure and what to do when your deal goes really really ugly without losing your mind

FiredUp guys talk about a special group of private money / deal partners that is available to every Michigan real estate investor right now especially in metro Detroit cities.

FiredUP guys list how they are using cheap cameras and YouTube in their Michigan real estate investing business for massive leverage of their time.

FiredUP guys have a list of practical tactics that you can use to sell more houses to other Michigan real estate investors whether you are a REO broker or want to do wholesale flips.

What is the secret zip sauce behind getting private money and working successfully with private money partners? Paul and Dennis talk about the 2 big things that make all the difference for a new Michigan real estate investor.

Doug and David cannot agree on Rich Dad, Poor Dad. Mark is quite because he has no idea why he agreed to do an episode on cashflow properties. Rodney wonders why land contracts are not loved more than rentals.

FiredUp Guys butt heads about doing short sales in Michigan. The bad cities, when you dont want to touch short sales and what banks are really thinking about short sales right now. Also join our community on Facebook.com/FiredUpShow and connect with other like minded Michigan real estate investors.

FiredUp guys tackle a question that every Michigan real estate investor has to answer when they buy a foreclosure - should they fix the house themselves or get it contracted out even when it will cost them less to fix it up themselves?

The Firedup guys argue about buying REO's with mold and whether they are still a profitable play in Michigan foreclosures.

FiredUP is a new web show about investing in Michigan foreclosures. New episodes every week on Monday, Wednesday and Friday.

If you use Facebook personally then stop by our Facebook Page. Fan us up so you never miss out on new episodes and network with other Michigan real estate investors and fellow fans of FiredUp! You can also get the show on iTunes.

Why you want to join the FiredUp guys on Facebook:

1. You will never miss out on anything.
2. Get daily updates that inspire and inform you to make more money in your real estate investing business in Michigan.
3. Connect with other like minded investors in your Michigan city.
4. Go behind the scenes of FiredUP - the new web show about investing in Michigan foreclosures.
5. It is free.
6. Tell the FiredUP guys what you want them to discussing next. It is your show as much as it theirs. So go to the Page. Fan us up and tell us your wishes about the new show episodes.

What happens when you put 5 Michigan real estate investors, five chairs, one table and one video camera in a room?

Well a 10 minute, 3 times a week, video show that is going to change the way you think about buying Michigan foreclosures in 2009 and 2010.

The name of the show is FiredUp!

New episodes every Monday, Wednesday and Friday on MarkIjlal.com

If you use Facebook personally then stop by our Facebook Page. Fan us up so you never miss out on new episodes and network with other Michigan real estate investors and fellow fans of FiredUp! You can also get the show on iTunes.