Investing Without Cash or Credit with Peter Conti

Worlds #1 Greatest Commercial Real Estate Mentors Issue Bold Challenge

Because we have been called the “Worlds #1 Greatest Commercial Real Estate Mentors” it’s not a surprise to anyone that we get attention from two very different types of people. The first category is people like you. Someone who is serious about taking big steps in their life and isn’t afraid to search for knowledge or guidance to make sure that you get where you want to go.

The other category contains those who say they want to do big things but when push comes to shove, they quickly come up with a thousand reasons why they can’t do something new. I don’t have the money yet, I’m going to wait for a better time, real estate would be great but only if I got started ten years ago... and they go on and on. By coming up with excuses to give to other people they convince themselves in the process that they are doing the “right” thing by playing it safe.

We believe to the core of our being that a willingness to step up to the challenges life offers us is what makes champions of us all. There is a reason that you are reading this book. It just may be that you are finally ready to take the first step towards living the life of your dreams. To prove that commercial real estate investing is really possible, we recently took the bold step of issuing a challenge to the press to prove that anyone, and we do mean anyone, can make $1 million or more by investing in commercial land development.

After all, if a former auto mechanic and introverted engineer can make a fortune investing in commercial real estate, then you can, too.

Here’s the challenge that we sent out to 3,159 TV stations, radio stations, and newspapers:

“Give us a team of people who are committed to going after their dreams and within 90 days they will have a land development deal under contract and within 180 days the project will be fully underway. By the time the team is done they will have developed the knowledge and confidence to be able to put together commercial deals on their own and they will have made $1 million or more.”

 

We believe that the key to making things happen is in making a commitment that you can’t back down from. We have publicly put ourselves on the line and now the pressure is on. We are going to win or lose with the whole world watching us. To watch those we’ve picked to be on the challenge team in action and cheer them on, go to www.landdevelopmentchallenge.com.

5 Mistakes To Avoid When Investing In Apartment Real Estate

Commercial property can seem like the ultimate form of real estate investment. And when proper due diligence is done apartment properties can become a cornerstone of your investing business.

The ugly flip side is a field of scattered and broken dreams.

Many investing failures could have been prevented if only a little homework was done before inking the deal. It’s not hard and it isn’t rocket science.

Here are just a few important areas you should be aware of before taking the plunge. They may seem like common sense to you as you read them. But you’d be shocked if you knew how many commercial investors overlook the simplest things.

      1.  Failing to inspect      the apartment buildings...again, just before closing. Of course               you’ll      inspect the apartment during your initial evaluations. You decide to buy      and             secure your financing. You’re all set to take over in a month or two.

 Be darned sure you have a close look before you close the deal. This is important especially with older apartments. But even newer complexes can have their issues.

 
It’s a smart idea to have a professional inspector do this. This is what they do for a living. So they know what to look for. More often than not, they’ll uncover new problems or even problems overlooked by you.

         2. Only work with      experienced commercial property lenders. Forget your regular bank.         They do      not specialize in apartments or commercial property investments.

 
Commercial mortgage brokers understand more than you do, or your bank, when it comes to investing loans.

3.

Don’t invest in      apartments under the assumption you can just raise rents and make a lot of      money. The real world doesn’t quite work that way. Ask yourself this      question...

Why is the seller unloading this property? If it was so easy to just raise the rent, why doesn’t the seller just raise them and make more money?

 
The critical observation in any scenario is to look at the existing rent prices for the property. How does that mesh with the asking price?

 
Take existing rent fees into consideration for your offer. And think critically about any statements on the rent being too low. Again...if the rent is too low, why doesn’t the seller just raise them?

4 .

Failing to      comprehensively examine income, expenses, and taxes over a period of time.      Sometimes you’ll find potential landmines just waiting to happen.

 Always ask to see the corporation’s returns for at least the last several years. This will help you have an accurate idea of how the property performs in real life.

 Then contact the county assessor’s office and ask about the location’s tax situation. The important items include last years taxes, the current years taxes, and if taxes will increase next year due to the sale of the property.

 Doing this can reveal potential large, unexpected costs to you in the future.

 Looking into the      future and pretending you’re the buyer...5 or 10 years down the              road. This      is a bit of a judgment call on your part. But you’d be surprised at how      you          may feel about the property and location.

Take a good look around and imagine what the grounds will look like in 10 years. How about the surrounding area? How are the neighborhoods nearby?

 
If things look a little run-down, how will they look in the future?

 
If there’s a lot of open space next door...fields or woods, for example, you might want to find out about it. Who owns it? Are there any existing plans to develop it? You never know, maybe someone wants to turn it into an industrial operation.

 
How will any surrounding developmental plans impact your apartments?

 
Use your imagination as you do this. If you don’t have good feelings about it, then listen to that and act accordingly in your best interests.

 
Learning how to spot potential pitfalls can save you a lot of money and headaches. Investing in commercial properties such as apartments can be lucrative if done right. And the smartest thing you can do is become educated and learn from those who’ve traveled before you.

How to Make $20 Million Starting Today

Greetings from Annapolis

The leaves are just starting to fall here - it's not hot yet you still don't need a jacket at night.

Today is the final day we are editing our latest book:

Investing in Commercial Real Estate for Dummies - to be released in January 2008

Here's quick sneak peek from Chapter 1

My name is Emily  and I’ve used the information in this book to go from being a 22 year old college student and in less than 5 years reach a level of wealth and lifestyle that is.. well… I guess you’d call me a multi-millionairess.  In my senior year of college I went to some real estate investing clubs and I discovered creative investing.  I knew it was possible because they said you don't need cash, and you don't need credit, and I knew I qualified for that. 

But I didn't know the step by step the details of what needed to happen next.  When I joined the Residential Mentorship Program, I was actually shaking and sweating because it was the biggest check I had ever written but I said, “Please God; if this just helps me get my first deal, I know that it will all be worthwhile.”

It seemed like I had it make when I signed up my first creative purchase of a single family home just 23 days after getting started. Well, this and a few other deals ended up falling apart over the next six months mainly because I didn’t quite have all the confidence that I needed yet. When people asked me why I didn’t give up I told them that I knew real estate worked. I had seen it work for other students in the Mentorship Program and I wanted to prove to myself that it could work for me.

I’m glad I stuck with it because the next month I bought the first of many homes using Peter and Peter’s system. Then after buying houses for a number of years I went to their Commercial Training. I met several people who partnered up with me to buy a commercial property for $560,000. We used the Instant Offer System to get the owner to carry back 95% of the financing. To make it even better we used Peter’s Money Principles to get an investor to provide the 5% down payment.

Most people would die to have a commercial property like this that creates a cash flow of over $8,000 a year right from day one. I found that people in the Mentor Family have continued to encourage me to grow. In one of our recent deals we raised over $4 million dollars in outside funds so we had the money to purchase a property that is worth $20 million. After we split this property up and change the zoning it will be worth over $40 million.

Looking back, it is hard to believe.  When I started I was making $10 an hour at a part time job. One year later I would have been thrilled to make $50,000 on a duplex.  Now I own over $80 Million of real estate in my various partnerships.  The key to escaping the rat race was to start small and then hang around with other investors who think big.

How to get rich friends fast

Speaking of relationships, forward a link to this blog or to www.resultsnow.com to a friend that you care about. Do it right now! Hey I changed my life with the power of real estate. If a former auto mechanic can
do it, anyone can. Until you reach out to help someone - most people don't have a
chance. Who do you know that might want to quit their job, be their own boss, or
simply retire early by investing in commercial real estate? Email them today. You’ll feel good when they thank you. Suggest that they start with my Free Ebook Bonus Pack.

To Your Success,

 

Peter

How to get everything you want in life right here

Hey - "Everything you want?"

That's  a pretty big claim, I know.

I'm the former auto mechanic who keeps coming up with crazy yet simple ideas that create massive wealth out of situations that others say are hopeless.

I also know that it's not until we challenge ourselves to go beyond what we thought our limitations are that life truly begins to unfold for you.

Most people live like FOOLS.
Focusing On Ordinary Limitations

I believe in empowering you to live and make decisions from your GUT.
Greatest Unique Talents

Stay tuned by connecting using one or more of the tools on this blog and you'll be surprised at the amazing changes that happen when you least expect it.

Commit to Your Dreams and “Chance” Will Work for YOU!

I wanted to share an observation with you. I’ve noticed that the moment people make a serious commitment to something; all kinds of “accidents” seem to work in their favor.

 

Here are two quick examples of this: 

 

First, a student in the bay area of

California

decides he is going to buy foreclosures. He’s never done it before but he leaps in with both feet and makes a commitment. It turns out that his girlfriend’s neighbor is losing her house to foreclosure and our student buys the property and nets over $100,000!

 

Second, one of our Residential Mentoring Students™ makes the BIG leap to commit to Commercial Investing (which is a SIGNIFICANT commitment). Six weeks later he finalizes his purchase contract on a 154-unit apartment complex in

Austin

,

Texas

.

 

Were these both “accidents”? I don’t think so.

 

So I ask you to commit or recommit to your investing goals. Jump in with both feet even if you’re not fully ready, heck, especially if you’re not fully ready! Then start to notice all the things that fall your way. This doesn’t mean you won’t be tested. Of course you will. But if you stay the course, you can and will succeed in a BIG way.

 

I KNOW it is possible for you.

To Your Success,

Peter