0 to 4 in less than 6 months

[jarrettvaughan]

On my way to Costa Rica on my honeymoon I picked up a book call "Rich Dad Poor Dad" in the Dallas Airport. I had heard it was a good book and needed something to read on the plane. What I didn`t realize that this would place me on a year long journey of frustration. It changed my thinking but did not get me to where i needed to go. I tried to purchases houses to flip but could never make the number work, for one year i did nothing but read books on real estate and get frustrated with "American material".

Until reading Don`s books, there was not way i could see my self as a real estate investor. I joined REIN on January 1/08 and have now purchased 4 investment properties. I am 25 years old, have no money but due to the REIN system, my wife Ashley and I have been able to change the direction of our lives. We now have specific, time oriented, measurable goals which will allow us to be financially free by the time we are 35 years old. This will allow us to travel, play music and help others who live in the developing world. It may be no easy task, but we will do it.

I also own a business called 2010HouseRental.com which allow home owners to rent their homes out for the Vancouver/Whistler 2010 Games. The business is now starting to take off which is very exciting. I created this business model because of my knowledge of the tourism industry and interest in real estate.

In August, Ashley and I will move to France where I will start and hopefully complete a Double Masters Degree (MA in Tourism Management from University of Brighton, MSC in Tourism and Leisure Management from the University of Normandy) so that i can become a Professor. We will be out of the country for 15 months and plan to continue with real estate investing. We have a lot to learn but we will find European JV money to invest in Red Deer and the Fraser Valley.

I have learned an incredible amount of knowledge from this site, REIN meetings, Quickstart, home study packages and of course, Don and Russell`s books. I can not express how valuable this has been to us, so thank you. Thank you very much for getting us on the right track. It has not been easy but it is clearly because of REIN that we are now moving in the right direction.

 

[RArora]

QUOTE (jarrettvaughan @ Jun 5 2008, 09:29 AM) On my way to Costa Rica on my honeymoon I picked up a book call "Rich Dad Poor Dad" in the Dallas Airport. I had heard it was a good book and needed something to read on the plane. What I didn`t realize that this would place me on a year long journey of frustration. It changed my thinking but did not get me to where i needed to go. I tried to purchases houses to flip but could never make the number work, for one year i did nothing but read books on real estate and get frustrated with "American material".

Until reading Don`s books, there was not way i could see my self as a real estate investor. I joined REIN on January 1/08 and have now purchased 4 investment properties. I am 25 years old, have no money but due to the REIN system, my wife Ashley and I have been able to change the direction of our lives. We now have specific, time oriented, measurable goals which will allow us to be financially free by the time we are 35 years old. This will allow us to travel, play music and help others who live in the developing world. It may be no easy task, but we will do it.

I also own a business called 2010HouseRental.com which allow home owners to rent their homes out for the Vancouver/Whistler 2010 Games. The business is now starting to take off which is very exciting. I created this business model because of my knowledge of the tourism industry and interest in real estate.

In August, Ashley and I will move to France where I will start and hopefully complete a Double Masters Degree (MA in Tourism Management from University of Brighton, MSC in Tourism and Leisure Management from the University of Normandy) so that i can become a Professor. We will be out of the country for 15 months and plan to continue with real estate investing. We have a lot to learn but we will find European JV money to invest in Red Deer and the Fraser Valley.

I have learned an incredible amount of knowledge from this site, REIN meetings, Quickstart, home study packages and of course, Don and Russell`s books. I can not express how valuable this has been to us, so thank you. Thank you very much for getting us on the right track. It has not been easy but it is clearly because of REIN that we are now moving in the right direction.

Wow! Congratulations! That is great!!!

How did you manage to do 4 properties within 6 months with no money? thats a great feat! and congrats on your taking the steps to achieve your dreams! I have just recently joined REIN in May 08 and am eager to learn the system and explore RE investment options.

France is a beautiful country-you must go visit Mont St Michel and Versailles while there among so many other places!

Do tell us more about how you did it!

I have 2 people interested in doing lease to owns-but we dont have the 25% down and one of them wants a house that`s about $260k and the other about $350k n I dont know how to go about doing Lease-to-owns for them-any suggestions?

 

[jarrettvaughan]

QUOTE (RArora @ Jun 5 2008, 02:40 PM) Wow! Congratulations! That is great!!!

How did you manage to do 4 properties within 6 months with no money? thats a great feat! and congrats on your taking the steps to achieve your dreams! I have just recently joined REIN in May 08 and am eager to learn the system and explore RE investment options.

France is a beautiful country-you must go visit Mont St Michel and Versailles while there among so many other places!

Do tell us more about how you did it!

I have 2 people interested in doing lease to owns-but we dont have the 25% down and one of them wants a house that`s about $260k and the other about $350k n I dont know how to go about doing Lease-to-owns for them-any suggestions?

Thank you very much.

You ask, how did i do it?

I bought a house to live in, it went up in value very quickly as it was in a brand new development in a very desirable area. I took all the equity that i could and purchased a property in Red Deer with a partner, we each put in half the money. I then used more equity to purchase another residence and rented out the first house which i bought. The new residence had a basement suite and was in the same desirable area. At this point i owned 3 properties and as i began to speak to investors, they started showing interest in JVing with me. I was very surprised at this but I had heard through REIN that after you purchase 3 properties, the JV option becomes much easier as you are confident in what you are doing.

I began to speak to people (every one i know) about partnering to purchase some cash flowing properties that i have found. 3 of them have shown serious interest and I have already purchased a property with one of them. The other 2 JVs are well on there way and are simply waiting for me to find the right properties to purchase with them. These partners will put in all the cash. I am very excited to be moving forward with these goals as I should have 6 properties before I move to France.

One of the keys for reaching these goals was to read.... read..... read everything that i would get my hands on. Even materials which where far fetched, unrealistic and untrue have helped by putting everything in perspective but clearly the direction of REIN has put me to where i want to be.

As far as Lease to own. I have no idea how that works but would love to learn as one of my tenants would like to purchase the property from my in a couple years!!!!!!!!!!!!

Thank you for your advice for France, I will be sure to visit those places.

 

[Candi]

Congratulations! Jarret & Ashley.

I love to hear success stories like yours- that keeps me motivated to succeed. Some times it seems so hard but like you say, read, read and keep focused- Well done! et bon voyage!

 

[leealvin55]

Hi Jarret,
My name is Alvin. I have just joined REIN and I am stuck with all the information and don`t know how to start. I have some cash from my retirement. I don`t know how to start. I am eager to start and begin building my real estate business. How do you do it? What is the first step? Please let me know how to do it. Help???

Alvin

 

[housingrental]

Hi Alvin, You`re first step should be to become an expert in ONE area and ONE property type. This takes works and your hours - Start very small, one neighbourhood in one city. Maybe start with what you know/where you live. Find an exceptional investment realtor who`s in expert in the area that you`re looking at - all real estate is location specific - know someone who understands the product. Find a property manager or learn the regulations. View all houses for sale, look at all past sold data for last 2 years, learn the local laws - re zoning, fire code, esa requirements, etc.. learn what influences demand and rental price in that area ( $/sq ft., condition, access to transportation/jobs/shops/schools/parks, etc.. tenant profile). Check through rental ads in the local paper and internet sites. Know your business- Know the value of the property, potential rental income (in current condition? If $X were spent on improvements), stability of the revenue source (will tenant profile pay 99% of time, or only 80%? what % of renters will damage property?) Join your local landlord/apartment managers association. From there move on to learning surrounding neighbourhoods and property types.

 

[jarrettvaughan]

Wow, i think that Adam has completed a great explanation. It is critical to become an expert in your field, just do not stop there. Being an expert coupled with action taking is what will lead you down the right path. Start putting offers on the table.

QUOTE (leealvin55 @ Jun 23 2008, 07:21 AM) Hi Jarret,
My name is Alvin. I have just joined REIN and I am stuck with all the information and don`t know how to start. I have some cash from my retirement. I don`t know how to start. I am eager to start and begin building my real estate business. How do you do it? What is the first step? Please let me know how to do it. Help???

Alvin

 

[scooter]

Congrats!!

That`s a great success story. I hope I can follow in your footsteps, as I have read "Rich Dad Poor Dad" and have just gone through the Quickstart home study program.

Enjoy France, it is a great country to visit, they love us Canadians. Be sure to visit and support our history there at Vimy, Juno Beach and Dieppe.

Well done!

 

[DonCampbell]

What an amazing story of "Getting it Done" with no excuses.

Many people think they are going to wait to get money in order to invest (use it as an excuse to avoid taking action) others think `I`m too you" (another empty excuse) while others just GET ON WITH IT! And that`s what you two have done.

I can see that you have really grasped the simple, yet very powerful mindset or making life happen. While others let life happen to them, you two have gone out and made it happen.

CONGRATS!

 

[jarrettvaughan]

QUOTE (scooter @ Sep 13 2008, 06:01 PM) Congrats!!

That`s a great success story. I hope I can follow in your footsteps, as I have read "Rich Dad Poor Dad" and have just gone through the Quickstart home study program.

Enjoy France, it is a great country to visit, they love us Canadians. Be sure to visit and support our history there at Vimy, Juno Beach and Dieppe.

Well done!

Thank you very much for the comments. France is interesting and we live only an hour from Juno Beach and plan to spend rememberance day there.

 

[jarrettvaughan]

QUOTE (DonCampbell @ Sep 21 2008, 02:50 PM) What an amazing story of "Getting it Done" with no excuses.

Many people think they are going to wait to get money in order to invest (use it as an excuse to avoid taking action) others think `I`m too you" (another empty excuse) while others just GET ON WITH IT! And that`s what you two have done.

I can see that you have really grasped the simple, yet very powerful mindset or making life happen. While others let life happen to them, you two have gone out and made it happen.

CONGRATS!


Thank you Don,

It certainly has not been easy but i must that you and the REIN Team as it is only because of your incredible organization that we were able to learn how to do this. We now have 5 properties (6 doors) and are trying to find our place here in French Society. If all works well, we will find a way to bring European Capital into the Alberta Marketplace over the next few months.

Once again, thank you very much. We are enjoying listening to the REIN Meetings on MP3 while riding the rail system.