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The Final Step to Wealth

June 14, 2014 by  
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We’ve spent the last few weeks building up to this last step in building your wealth—getting on the fast track using leverage.  Yes, I’m talking about leveraging properties including using bank loans but to really supercharge and speed up the process even faster, you will want to use financial partners.

To do this, you just need a few people looking to invest in a safe, reliable project that will give them a regular and consistent return. Get them to collectively fund a down payment of 20% or more on the property you want to purchase and promise a reasonable return–say a 10% APR, an amount that is definitely higher than the best CD can offer. You should also put in some of your own money to makes the investors feel more secure seeing your confidence in the investment’s potential by also putting your money at risk.

Then when you sell or rent those properties, get the best return possible and get the money back to your investors with a higher than expected rate of return. When they see that you not only lived up to but exceeded their return expectations, you will have created an enthusiastic group of investors for future projects as well as getting wonderful word of mouth that could bring even more money flocking to you.

If you have read the revised edition of my first book, now named The Next Step in Waking up the Financial Genius Inside You, then you probably read Dell Loy Hansen’s letter in the Pre-Foreword thanking me for writing the book which he read when he was flat broke and in college. Dell gives me and my book great credit for giving him the financial formula and path to his great fortune. He followed pretty much everything I suggested in the book and his success was supercharged and sped up big time. He simply brought on some very well healed partners and took really great care of them with good, consistent returns on their money.

He now owns more than a billion dollars’ worth of properties and recently paid around 85 million cash for the Salt Lake professional soccer team “Real Salt Lake” RSL.  I love his P.S. of his letter where he says “Thank you a million, or more appropriately “Thanks a Billion”.  So if you or if my young man seeking advice and a formula want to jump on the super-fast track, go find some wealthy partners and be sure to take good care of them–under promise their rate of return on their investment and then over deliver.

 

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