Questions And Answers
Questions & Answers
Michael, can I meet with you in person, to learn more & to see if mentoring is right for me?
Absolutely – I will be happy to meet with you to answer your questions in person. (As long as you don’t mind coming out to Hawaii Kai. ) I typically meet with prospective students on weekday evenings.
No – it is not necessary to have an agent’s license to be an investor. As investors, we frequently work with agents, but arguably, there are no major benefits for us to obtain a license. And there are clearly some disadvantages to having one. We are now seeing real estate agents get ‘squeezed’ as the housing market continues to change, and there are fewer transactions, and unfortunately, as I have predicted, many of them will continue to leave the profession to find work elsewhere. Conversely, a well-trained RE Investor can make money in any type of real estate market. Not surprisingly, I am seeing more and more RE agents come through my Mentor Program to learn “the way of the investor.” I have written more on this topic in my best-selling book, “Win!”
What if I don’t have much money to invest?
There are many ways to go into deals if you’re creative! If you don’t have your own cash to do deals, no worries, that only removes one option; there are still many others remaining on the table. I will show you how to obtain Other People’s Money (OPM) to invest in your deals. We may also focus your efforts initially on strategies that involve little or no cash. After doing several deals this way, you will have plenty of cash to invest, and your options will expand, so you will now have a selection of strategies you can apply on a deal-by-deal basis.
What if my credit scores are low?
I will show you how to begin improving your scores right away; I will also have you focus on alternative ways of financing your deals. I rarely use my credit to take down my deals.
Lately, I’ve heard negative stories about Real Estate – is this a bad time to invest?
To the contrary, NOW IS THE BEST TIME TO INVEST! The negativity you are hearing in the media reflects a consumer’s standpoint. It is also a difficult time to be a realtor. But the opposite is true of Real Estate INVESTORS – we make more money in down markets, than in any other time. There are more motivated sellers, more foreclosures, more short sales, and simply more opportunity for those of us who know how to take down these types of deals. It’s important not to get caught up in the negativity – steer clear of the ‘Red light thinkers’ around you.
At what level is the training?
That depends largely upon the student’s experience level. The level of training is tailored to the student’s needs. If you are already an experienced investor, our focus will be on sharpening your game, lowering your risk, and making more money on a deal-by-deal basis. If you are a beginner, we are going to hit the fundamentals hard and then go into specific strategies that will earn you a lot of money in this business. I have trained rank beginners who have never owned a property, and I have trained multi-millionaires with properties throughout the country.
How many students are trained at once?
No more than 4 students. I intentionally keep the sessions small to ensure a higher absorption rate of the strategies and material. Most Mentor sessions have 3 or 4 students.
Aren’t good deals difficult to find on Oahu?
I’m still amazed to hear other investors tell me that! My response is, not if you know what to look for and where to find them. This is where education can make a huge difference. Last January, I did 4 deals in one week. As I write this, 3 of my recent students took down deals this week, and 2 of those are six-figure deals. Remember, while the information I share with you is not widely known, it is not rocket science – this is completely teachable. If I can do this, and my graduate-students can do this, I can show you how to do it, too!