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A Darling Little House

July 15, 2017 by  
Filed under blog

Many years ago, I wrote a book called The Courage to be Rich. This week, I re-read some of that book and, in particular, a chapter entitled “How Yuks Can Create Big Bucks”. It reminded me again that making money by acquiring beat up, old, dirt bag properties and adding your own sweat equity can make a person rich today in the exact same way it did 30 and 40 years ago. In fact, right now, with many properties selling for top dollar, it makes even more sense to lower your financial risk by investing in these kinds of properties. Here is an excerpt from that section of the book.

Changing a Tacky Dump into a Swiss Chalet

I really couldn’t believe what I saw. A few years ago, while driving down a street in Salt Lake City, I glanced over at a little white house, maybe a thousand square feet at the most, and I just about drove off the road. The formerly grungy house had been completely transformed. Instead of a tacky little house complete with cluttered yard, worn grass, and garbage cans by the porch, I saw a cute, Swiss chalet cottage. The change was so stunning that I pulled over to stop and stare.

At first glance, it seemed that someone had spent a ton of dough making the property shine. Upon closer inspection, I found that the changes made on the outside of the property were quite inexpensive. The dirty sides of the house had been covered up by a fresh coat of paint, and Swiss style shutters with decorative patterns had been placed on either side of the windows. The garbage cans had been moved from the front yard to the back. For extra frosting, a white picket fence had been put along the front of the yard. One other conspicuous difference was a FOR SALE sign prominently displayed.

I was totally amazed at the change, but even more amazed at my reaction to the changes! I had, for years, been in the business of buying properties that needed fixing up and, after some work, would resell or refinance them at substantial profits.

Prior to stopping at this house, I considered myself very smart and successful at what I did. But here is the huge shocking part of this experience. My first reaction was: “What a cute little house! It’s absolutely darling. I should buy it!”

Talk about dumb–really dumb. Here I am in the business of buying dirt bag properties, fixing them up and making big money selling them and this little house almost fooled me into buying it. But now as I think about it, that experience is teaching me a big lesson.

Almost everybody would rather buy a property that looks nice and new and pretty. That’s just normal in us human beings. That’s why people are making money by fixing and fancying up beat up houses and apartments. And now in today’s market where a lot of properties are at top prices, these types of properties are the safer investment. You can greatly increase your chance of making money by doing the simple fixes that stand out and grab people’s attention!

That darling Swiss looking house certainly did it for me and needs to be duplicated. Or should I say, “Hey, here is another way showing how you can make big bucks from yuks.”

Bigger Rewards Than Money

July 8, 2017 by  
Filed under blog

It’s tons of fun making big money and it can help your life in so many ways. It not only allows you to live in a wonderful home, or even a mansion, but it gives you a chance to see the wonders of this great world of ours. On top of that, you can easily be a great giver to others including charities, struggling students, homeless people, and the sick.

Even with all these advantages, there are still other great rewards that supercharge your brain and give you big feelings of satisfaction, inner peace and happiness. And what would that be? Read the text message I recently received and I think you will see what reward I am talking about.

“Dear Mark: To me–now hold on big fella–you are a celebrity. It was such a privilege to have finally met you recently. I’ve wanted to do this for the 41 years that I’ve applied your basic fundamentals of real estate investment (coupled with my father’s teachings and influence with his rental property as a young boy) and learned and implemented from my first real estate book, HOW TO WAKE UP THE FINANCIAL GENIUS INSIDE YOU, in my year of marriage. It instilled confidence and was easy to understand. I’ve had “Fire in the Belly” ever since.

“That picture of you standing next to a Mercedes hood ornament screamed with success, at the time, in the advertisement of your book. I’ve had business mentors in my life, all unaware of the far and wide ripple of influence they’ve had in my life, unless I tell or have told them. And all of which were many years after the fact. You are one of those mentors that I’ve not had the opportunity to personally acknowledge and thank.

“So, thanks a million or better said, a few hundred million and even most likely, a billion times over. :) How many millionaires/billionaires you created? I can’t imagine! Hopefully this created wealth has been used to parlay, edify and lift others in doing good things. It has for me. This is all I hope to do, as I attempt to keep all things in proper balance and perspective. You have blessed my family, me, and many other lives. Thank you most sincerely,

Scott C. Keller, CEO/President of Keller Investment Properties (KIP)”

I’m told that Scott’s net worth is well into the 9 digits and has been there for many years! So, I think you can probably guess how receiving this text made me feel and I sincerely hope you, the reader, are super financially successful and coach, help out, and teach others along the way! The feeling you get from doing so is as big a reward as the money, if not bigger.