Here’s my 2018 investment and educational timeline. If you’re investing out of state or want to, you’ll find my process helpful. If you’re curious about what you should be investing in with your education, you’ll also find this helpful.
In April we went to Florida to do our annual inspection on our Florida properties. You may have seen my goofy Facebook live videos.
While there, we also visited about 20 properties that were potential investments.
We then attended the Mobile Home Park Bootcamp in NOLA which was enlightening. The teacher whose investment style is very similar to mine is the 5th largest owner of MHPs in the US and nuts and bolts like me. The “Go see trip” was mostly a lesson on what not to buy.
Cost for class $2000 cost of trip $1800.
In May we went to Palm Springs area and looked at, again Facebook live, about 15 homes of different sizes and price ranges for a student of CFA who want to buy there. And rested of course.
Cost $0 as we stayed in our property there.
June 29-July 1 we visited Saint Louis MO – We went to a 1-day Mobile Home Park tour to see actual parks owned by the teacher I mentioned earlier and to have networking time with 12 other students. It was blazing hot and muggy but fun and we made great connections. Saturday was the “go see” and dinner. Sunday, we spent looking at about 20 properties that had investment potential. Even saw E St Louis and yes what they say is true… What did you do that weekend?
Cost: $1500 flights and stay/rental car. No charge for park visits analysis.
July 11-15 attended Freedom Fest in Las Vegas. Met many economic thinkers, gold mining companies, oil and gas, and diamond investors, heard about investing in Singapore, Belize, Puerto Rico and met other investors from different walks of life. Meet Steve Forbes, Jim Rogers, the former CEO of Wholefoods, and two riveting women who are changing the world of business which was a “Wow!” bonus. We will be attending again next year.
Cost: $1500 attendance, $1800 stay
Sept 29 through Oct 1 – I went to Indianapolis for the weekend to be in court Monday on a note I bought. The borrower has not paid since 2008. We had gotten approval to foreclose since we could not come to an agreement on a workout (yes, I was willing to get him back on track).
He filed Bankruptcy to stall and I was now there to explain how we thought the duplex was worth $70k while the borrower was arguing that it was worth $33k. We prevailed. And we will take possession of the property on or slightly after February 20th. Look for an update soon. I’ll have the full story posted on my website soon.
During that weekend we saw about 25 properties that were possible investment opportunities, took pictures, crunched numbers, talked to two realtors to start building a team (Sunday before the court date).
Cost: $1200 stay, food, rental car.
October 3-8 we were at Magnify Your Wealth Summit, put on by our LLC company. They bring together investors from all industries. Topics ranged from asset protection, to growing your business, to online strategies, to tax strategies and how investments can help or hurt and which ones they are, to the new investment assets classes pros and cons. We did some great networking there as well. A community of business owners and investors who are ready to do the work around building their businesses.
Cost $1495 waived because we are a client. Cost of stay and food $1300 for stay.
As an investor you never have the investment eye shut – always eyes open! Your radar is always on because opportunities are everywhere. So even though we took pleasure trips to Carlsbad, Paso Robles, Ojai, Palm Springs, Italy, and Ottawa Canada (my home town) I still go online for property, ask “How much does a home like that cost, how much do they pay in this neighborhood, what’s the vacancy running here now, or what’s the up and coming area here?” I just can’t help it and I hope you can’t either.
Investing in your education and surrounding yourself with like-minded people is critical to your success. I continue to seek lessons and connections and I bring that back to my Cash Flow Academy Community.
Reading also is a way I train my brain. This is also the cheap way until you have the cash flow attend live events. Look for my next article about the top 5 books in 2018 (out of 32). Feel free to share yours too!
Sincerely at your service,
P.S. Cash Flow Academy is Enrolling NOW through January 26th, 2019. This is a hybrid online, learn as you go program that includes Monthly Coaching calls with me and other live events. There isn’t anything like it, and if you’re serious about creating cash flow through real estate investing then join today. Visit: https://mycashflowacademy.com/services/