By Ralph R. Roberts
I graduated high school with a 1.8 grade average and $900 in the bank. That $900 was a graduation gift. I used it as a down payment on a fixer-upper in my neighborhood. I bought other investment properties with money I borrowed from my grandmother, with conventional loans (when banks would loan me money), and even with credit cards at times. One of my mentors taught me that the cost of borrowing money isn't something to worry too much about. The access to money is what's important.
I moved 19 times in 23 years, before marriage slowed me down. Over the course of 25 years, I earned hundreds of thousands of dollars buying and selling residential real estate. I've bought and sold thousands of properties and helped other people buy and sell thousands more through my real estate business. With my personal investment properties, I made most of my money using other people's money. That's right, I borrowed it.
Far too many people today are averse to taking on debt and the risk that often accompanies it. Our society has unleashed a mythological beast that scares us into believing that debt is evil and risky. Many people talk themselves out of buying an "expensive" house, even when that house would cost less than what they would pay in rent for a smaller place. Most people are convinced that borrowing money to invest in real estate is too risky, never realizing that by not taking a risk, they're increasing their financial burden.
In The Mortgage Myth, Chip Cummings and I blast away at the 77 mortgage myths that prevent would-be homeowners and real estate investors from pursuing their dreams of homeownership and wealth building. Here, we distinguish the difference between good debt and bad debt, reveal just how easy it is to obtain approval for a mortgage loan, and unveil the power of using other people's money to leverage your own personal investments.
If mortgage myths are holding you back from achieving your dream of owning your own home or building future wealth in real estate, let us liberate you, as we blast away at every single myth that's getting in your way.
http://www.themortgagemyth.com/
Ralph R. Roberts GRI CRS
The Ambassador of Enthusiasm
"Official Spokesperson of Guthy-Renker"
Author of :
Walk Like a Giant, Sell Like a Madman
52 Weeks of Sales Success
Real Wealth By Investing in Real Estate
Flipping Houses FOR DUMMIES
Foreclosure Investing FOR DUMMIES
Advanced Selling FOR DUMMIES
Foreclosure Self-Defense FOR DUMMIES
Protect Yourself from Real Estate and Mortgage Fraud
Mortgage Myths: 77 Secrets
RalphRoberts@RalphRoberts.com
www.AboutRalph.com Speaking/Coaching
www.RalphRoberts.com Real Estate Site
www.KolleenRoberts.com Tribute
www.FlippingFrenzy.com Mortgage Fraud
www.BigNail.com Branding
www.MacombCountyVoice.com Community
www.GetFlipping.com Flipping Houses Site
www.ActiveRain.com Real Estate Network
67775 Van Dyke
Washington Twp. Mi. 48095
Office: 586-751-0000
Fax: 586-752-8959
Personal Assistant -Lois Maljak: 810-533-3448
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Interesting, very interesting...I have to say, I know a few that have done this as well...they are millionaires, retired at 40. It's a skill, a risk, a chance. If you have done well, then congratulations!