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My friend Karl T. (keep last name out for privacy purposes) and his wife purchased a property that was in need of repair. Karl is a career fire fighter and at the time his wife was laid off from her work. This was roughly 3 years ago.
The two of them could not make the property work and they were going to sell it at a loss of $10,000. He showed this property to his NR mentor and his mentor said, you need to go to college. Karl said to him we can't afford to go to the college. His mentor insisted he go to the college. Why? His mentor knew exactly what kind of deal Karl and his wife were sitting on. Instead of stealing the deal from him, he insisted they go and do the deal themselves.
Karl and his wife found the money to go, came back and on the same deal they were going to lose $10,000 on it if they sold it, now are going to make $81,000 over 3 years and have a lease option tenant in the home. There were happy beyond words.
Karl has also used our Mastermind calls to ask questions and close a short sale. Just by getting on the phone and asking questions, he closed a short sale deal. That is awesome. Karl and his wife currently own 37 properties and went from a 38% tax bracket to a 1% tax bracket. Deductions in real estate are awesome.
Karl and his wife have become good friends of mine. They are doing very well. His wife no longer needs to go back to Corporate America as she does NR and investing full time. Karl his going to finish is final 2 years as a fire fighter, yet continue to invest and grow their portfolio together. I've known Karl for over 2 years. He his a gentle soul and willing to give back to others.
PAY IT FORWARD!
PAY IT FORWARD!
PAY IT FORWARD!
Happy Investing!
Tony
