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He shared the family business with my father, who then shared it with
me.
As a result my family’s been sharing real estate ideas with good people
like you since 1985.
In my twenties back in the 1980’s I was a real estate agent, and then a
couple years later a real estate broker in the San Francisco bay area.
Houses were expensive there even back then, and I wanted to be able
to buy houses of my own. Because of that I stopped being a real estate
broker and moved to Phoenix, AZ after the real estate crash in 1992.
(Yes we had another crash in the early 2000’s too…but this was one
before that because of the same reason…bad house loans. You would
have thought lenders would have learned their lesson back then.)
Being a real estate broker and real estate investor are two different
things…
Because of that I felt stuck! Have you ever felt that way?
I wasn’t making much money at the time and was grateful to be able to
afford living here.
Now please realize, this isn’t the kind of “1 Extra House” I’m referring to
in this guide, but I wanted to share a little bit of my journey with you
here in case you can relate.
Many of my friends from those days went on to get signed and become
working musicians…and a few became bonafide Rock Stars that
continue to play today and tour the world. So that’s how I ended up
living with my friend and his girlfriend who worked for Anthrax.
I had just a couple weeks left to find another place to live when my
father suggested a mobile home. My friend had written a book on
investing in mobile homes so I read it quickly and started looking for
one to move into.
Again, this guide isn’t about mobile homes, but you need to hear this
part first before we move on to the “1 Extra House” part, okay?
I found the mobile home pictured above from a motivated seller who
owned it free and clear…which meant she had the ability to lower the
price. This was important because I didn’t have a lot of money at the
time.
Lot rent was about $203 a month which included water and garbage
removal.
There were empty spaces in the mobile home park so I went to the
manager of the park and asked if they would give me some free
month’s rent to keep my home in their park.
They agreed and gave me 2 month’s free rent that equaled $406 in
savings. So I essentially got this single wide, 12x60, 2 bed one bath
mobile home built in 1974 for just over 5 grand and I was thrilled to get
it.
That being said, because I wasn’t making much money at that time, I
felt like my life was on hold until I could figure something out. I also
didn’t feel like I was at a financial place in my life where I could
contribute to a relationship, so I held off on trying to meet the right
woman and get married.
Because of that limiting belief, I spent a lot of lonely times in that trailer
dreaming of, “Some Day”. Have you ever had times like that too?
Little did I know at the time that a “positive shift” was about to
happen…
In 1996 I was able to buy this house…
The only reason I was able to afford this house was because I had
inherited a little money from my grandparents that I used as a down
payment.
Have you ever thought to yourself about your own life, “Wow, I
thought things would be different - I thought things would be better by
now”?
Well if you have you’re not alone because I wondered those exact
thoughts for 6 years while I lived in that trailer.
Above is my dog Jake who helped me find a great house that really was
the turning point for me. But I’m getting a little ahead of myself…
I had been dating a very nice lady who moved from Phoenix up to Las
Vegas. She had roommates who had rescued Jake from the pound in
Vegas earlier that week…but they treated him terribly.
I had flown up there to visit my girlfriend at the time and this other
couple offered Jake to me. Because I had a mobile home without a
yard, I wasn’t sure how I’d take care of him properly. After much
consideration I agreed to take him with me…but they changed their
minds!
It darn near killed me too because at that point I had mentally made
the decision to take him. I didn’t sleep all night. The next day they
offered him to me again and told them “YES” on the spot and that this
time there was no going back on their offer.
That’s how Jake made it down to live in the mobile home. And it’s a
good thing he did because little did I know how much that one decision
would end up changing my life!
Because I didn’t have a fenced in yard, I took Jake for 2 walks a day,
almost every day, for years.
As we were going to the park for his walk that day we passed an
apartment building. Jake went to smell some bushes near a front door
when I noticed a flyer. For some reason I was drawn to it…and I’m sure
glad I was!
On it was an advertisement for a new starter homes community being
built on the outskirts of town. The prices for these model houses were
reasonable for the area…and they were serving Free Cookies, so how
could I resist?
After getting Jake back from our walk, I hopped in the car and went to
these new model houses. I was floored at the value considering the
price.
It was at that moment that I knew I had found the ONE THING I was
hoping for all those years…lower priced STARTER HOMES.
They had the numbers that would allow me to rent them out at break
even or positive cash flow…
And allow me to find nice desirable bargains and sell them for a higher
price and pocket the profits.
Now please remember at that time, I was the guy who had been living
in a single wide mobile home hearing gun shots at night, and holding
back starting a life with a great woman because of a lack of funds and
lack of a good future.
I soon realized that many of the people moving into the Starter Homes
in my neighborhood were spending a LOT of money on brand new
furniture and landscaping improvements. Some were even
buying new cars.
These were people often getting into their first house, and FINANCING
a higher lifestyle than they could really afford.
Because I knew about ways to buy and invest in real estate, I saw this as
the perfect way to be able to help these types of homeowners - and
pick up their property at the same time.
At that moment I decided to buy more Starter Homes, but only NICE
homes in areas that people WANTED to live in.
I bought other houses too, but I think you get the idea.
I rented these houses out so that renters would essentially provide the
money to make the mortgage payments and buy these houses FOR ME.
They were doing this for me while my regular income was still pretty
low like before, although it was going up a little bit.
As you can see, bargain Starter Homes were the one thing that finally
helped me get into the game.
Fast forward to today and I have the life I’d been dreaming about all
those years.
I fired my job back in 2004 and haven’t had to go into work since.
And the pride I began feeling as I knew my parents were proud of me
for taking the knowledge they had shared and put it into ACTION…that
was an amazing turnaround.
My wife gets excited with all the freedom we have in our life too…yes I
found the woman of my dreams and finally got married.
And to be able to share the things I’ve learned and continue to learn
with tens of thousands of subscribers so that it can potentially make a
difference in their family’s life too.
Before we talk about “The 1 Extra House Profit Formula”, if you don’t
already have a house that you’re currently living in as your primary
residence, we FIRST need to help you get one…
1. Assuming you bought the house you live in at a price that was within
your ability to reasonably make your payments, you’ll feel better and
more financially secure.
4. Mortgage Buy Down. Unlike rent that’s paid and gone forever, each
month you make your home loan payment, a portion of that goes to
pay down the principle still owed on your house.
The TERM of a house loan is the amount of time and monthly payments
needed to pay off the loan. Traditionally the term for a house loan is 30
years. When interest rates are very low, some people will get a loan
with a 15 year term. That requires a higher payment because fewer
payments will be made.
Either way, when that term is up, the house is paid for and you own it
free and clear.
Or sell the property you may not really want to move from.
That way when you get to a point in your life when you could use extra
money, you don’t have to refinance or sell your primary residence, you
can simply refinance or sell your “1 Extra House”.
If you felt secure owning your principle residence, think how good you
might feel owning a nice rental property that has the chance to add to
your bottom line savings. That’s how wealth creation starts. And the
good news is it’s NOT rocket science.
So let’s have a little fun here. I’m going to keep the numbers simple
because my business motto is, “Keep it SIMPLE, SAFE and FUN!”
I’m going to give you a hypothetical example here. The house value for
this example is going to be $100,000. Undoubtedly your market values
will be higher or lower. Simply adjust as needed.
My family has been helping people just like you with our
trainings since 1985.
It’s my sincere hope that you reach the goals you desire and
DESERVE.
Just so you know, this guide is a perfect companion to the FREE
tactical bargain house investing STRATEGY VIDEOS you’ll find
over at ProfitPotential.TV. The videos are a nice compliment to
what’s covered here.
You can also find more of my training product videos for
investing in nice bargain houses on my website…
www.StarterHomesClass.com
I hope this has gotten you inspired and excited for your
future…because it’s looking BRIGHTER my friend!
Remember, whatever you’re trying to accomplish
I know YOU can do it!
Mark Walters
3rd generation real estate investor
CreatingWealthClub.com
Get your Deal Money Sources AND Real Estate Investor Resources here…
https://CreatingWealthClub.com/deal-money
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