A Prayer especially for Real Estate Investors

[craigw]

Growing up as a pastors son without a lot of extra money, I think that having RE to suplement your income is a wonderful idea. Being smart with ones money is a Biblical principle. Read Mathew 25:14 -30.

Craig Williams
[email protected]

 

[mplut]

New to investing with only one property under my belt so far, I`ve been doing a lot of pondering...

Along with trying to understand all the RE fundamentals, a part of me has also been wrestling with my conscience. Do I want to put myself into a position where I may have to evict a tenant? Can I develop a good relationship with a tenant but not be a pushover? I like helping people but RE is a business - a business involving families and their shelter. Yikes.

It is comforting to see that others are successful in managing both perspectives.

Margaret

 

[Thomas Beyer]

QUOTE (mplut @ May 24 2009, 03:25 PM) New to investing with only one property under my belt so far, I`ve been doing a lot of pondering...
Along with trying to understand all the RE fundamentals, a part of me has also been wrestling with my conscience. Do I want to put myself into a position where I may have to evict a tenant? Can I develop a good relationship with a tenant but not be a pushover? I like helping people but RE is a business - a business involving families and their shelter. Yikes.

It is comforting to see that others are successful in managing both perspectives.

Margaret
yes you can do BOTH !

It is a business ... with humans in it ! In fact, rental real estate is one of the most social asset classes out there. So: treat people with respect, treat them fairly, be friendly, listen, care .. but be firm .. you cannot give away an asset worth perhaps $80,000 or even $300,000 for free !! You can be mindful of people`s hardships .. and give them a few days grace .. here and there .. but many people will take advantage of your lack of toughness .. hence this prayer is especially appropriate for real estate investors! (be firm, be on your guard, be strong !!)


Be on your guard; stand firm in the faith; be men of courage; be strong. Do everything in love.

May God bless your endeavours richly !

 

[dsenger]

God and faith is a very important dynamic to all things that we do including real estate investing. Happy to read all these posts. They mirror my own thoughts.Thanks to Thomas for bringing this very important topic up.

 

[Thomas Beyer]

QUOTE (dsenger @ May 26 2009, 05:36 PM)
God and faith is a very important dynamic to all things that we do including real estate investing. Happy to read all these posts. They mirror my own thoughts.Thanks to Thomas for bringing this very important topic up.


I thought I'll show / link this post here on "the MegaMind" by Joe http://myreinspace.com/public_forums/General_Discussion/61-19414-Your_Mega_-_Mind.html .. as it shows the common belief that ONLY us determine our destiny if we just want it enough.



Certainly, the mind or the mindset is a good starting point. Some people call it BELIEF or FAITH !



However, "mindset" is not enough.



You also have to have a "heartset" i.e. love what you do and show your human emotion to others.



You need others along the way .. realtors, investors, property managers, accountants, spouse, ...



You also need money (from your own jeans or other people's)



You also need time and energy to pursue what you set out to do.



You have to know what you are doing, i.e. you must ave knowledge !



You need discipline, too !



You also need action.



This verse here sums it up well:



2 Peter 1:5-7 For this very reason, make every effort to add to your faith goodness; and to goodness, knowledge; and to knowledge, self-control; and to self-control, perseverance; and to perseverance, godliness; and to godliness, brotherly kindness; and to brotherly kindness, love.



Pretty applicable to real estate investment, uh ?

 

[DavidChien]

Its amazing that there are so many of you guys are "tent-makers" and have a ministry on the side.
I am also blessed with joining REIN on and off since the early 90`s til early 2000`s and rejoin recently. I have been blessed with all these mentors/ speakers who share their "secrets" without reserve, that I am able to benefit tremendously in all these years financially & mentally.
Ever since I have become a realtor, I am able to use what I learned in REIN and use that as "tent-makers" to help the ones who think that they are being priced out of the market, and able to change their life from a renter to an owner. I am able to share with them that if they follow a certain path of investing (learn from REIN-of course), they are able to get out of this rat-race. The only return they I wanted from them is that they will help the next one if they come across one.
Another benefit is that I am sharing these mental lessons I`ve learned with my son`s "buddies" who are in high school and do not have a father figure at home. By playing with them the "Cash Flow" game and share about the principles behind the game and how they can be a good steward of what God have given them. I can see their moms were overjoy when someone is willing to do this with their teenagers.
The education I`ve got from REIN and the sharing from REIN is so rich that I am glad I am able to part these knowledge with the under privledge ones in a foreign land which their negative peers will never be able to provide. Such a refreshing feeling!
Just want to say Merry Christmas to all of you out there in the forum, and keep sharing what you have learned with the ones who have come across your path. May this Christmas be a Life changing one for someone out there!

 

[AndyLuchies]

HI David, First, we`ll all so glad that you have found REIN to be what it`s intended to be, a place for great real estate minds to share ideas and grow together.
Second, (a little promo) have you tried the Real Estate Cycle game from "Tell Me The Time"? My wife and I bought it and have used it to show others the benefits of real estate investing. Unlike CashFlow, this game does very well at focusing exclusively and much more indepth on real estate in such a way that brings out a more realistic teaching of the basics. If you find yourself mentoring others on investing in real estate, I have found it to be an invaluable tool. And just in time for Christmas. If you can, find someone in your area with a copy and play with them, it will change your mind. It was the first real estate game I didn`t win the first time around! (by the way, I get paid nothing to say this).

http://www.tellmethetime.com/purchase-game.html

Third, God bless you for your desire to share what you have with others. As a `tent-maker` myself I thoroughly love helping others learn to use their money wisely so they will have more time to give to those in need! God bless bro.

PS. Ever since chatting with the pastor from "51 Success Stories", I`ve really hung onto Acts 20:34 (in context)
(33) I have not coveted anyone’s silver or gold or clothing. (34) You yourselves know that these hands of mine have supplied my own needs and the needs of my companions. (35) In everything I did, I showed you that by this kind of hard work we must help the weak, remembering the words the Lord Jesus himself said: ‘It is more blessed to give than to receive.’
Here is a pastor who was wealthy enough to not only support himself, but his WHOLE ministry team and organization! That`s my plan one day.

 

[AndyLuchies]

I was looking over old posts, and saw this one (below). In case its still applicable, I thought I`d comment quickly. If I were you, I`d check out rent-to-own programs (RTOs) to base your real estate around. The 2 key factors for tent-makers like yourself are:
1. on going cashflow from properties-much more than conventional real estate.
2. Much Less hassle, no phone calls from tenants, much less time involved.

Right now we own 3 RTO properties, cashflowing ~$1500/mo after all expenses paid, and I focus on my properties about 1 hr a month investment + 15hrs during tax time to get year-ends ready.

Its built right into the contract to have tenant do all maintenance and repair on the home (after all, they will be buying it from you).
We`ve used "Home Owner Soon" to find our deals, but also Mark Loeffler is awesome at it. By having them do the leg work, it only takes a few hours to research and purchase property, and one phone call to the potential tenant to ensure they are reliable. Although you pay a decent finder`s fee for their work, its well worth it, and all of the deals we`ve chosen have been we`ll over 30% ROI per annum on our investment, one is 65% ROI per year!

Check it out, and if you have any questions, let me know.

QUOTE (bluejer @ Apr 27 2009, 12:31 PM) Thanks for the posts guys. It is awesome. I work as a missionary teacher in Ethiopia and just joined REIN. The major part of my personal Belize is to be a tent-making missionary using real estate.

Selewis & jessandy – I am quite interested in how you are progressing dealing with the realities of ministry as well as real estate.

Jessandy – I personally believe I can`t leave what God has called me to do. That is the basic fundamental for me. I can do real estate part time and do it with excellence and over the next few years I hope to gain all of my personal support in passive income. I think it is responsible and part of being a good steward.

I agree with Tithing. Opens the windows of heaven!!

Jeremy

 

[DavidChien]

Hi Andy:

Thanks for your response and words of encouragement! Especially at 3 am in the morning?! I hope you don`t have insomnia or something like that.

About the R/E game you mentioned, is it suitable for teenagers , especially with their short attention span! Is it easy to play as I am a slow learner myself. Thanks for your advise.

 

[AndyLuchies]

Haha, maybe my Timezone is messed up, it was ~600am here (I think) in the morning when I replied which is after I was up....i`m closer to a narcoleptic than an insomniac.
The game involves math, you have to know how to add subtract multiply and divide, but that`s all. We played it with my artsy sister-in-law (22yr old) who`s not a fan of math and she loved it. Perhaps ask other REIN members as I haven`t played with teenagers yet. You could always give a reward for the winner, I`m sure that would get their attention..... Its not as gripping as "Call of Duty" on the X-box if that`s what you`re asking.

 

[Thomas Beyer]

[quote user=donksky] I`ve had a tough winter with one of my properties. This passage helps me. indeed .. life is uncertain.



Only one thing is certain !!

 

[selewis]

andy... been thinking about you lately. lost your contact info! scott from sarnia. wanted to chat. email me. [email protected]