Building Passive Income through Real Estate

ISSUE #1

September, 2003

If you speak with any real estate investor and ask "If you could do anything different, what would it be?"
Most will probably say "I would have bought more property."

As your building your wealth, what will you do with your money?

What I learned from John Childers is a 10/10/10/70 Program.

It is described as follows:

10% of your money should be given away to charity.
As you give, the money returns to you in increasing proportions.
Obviously, there are tax advantages we all know about.
But most importantly, it is the right thing to do.

10% of your money should be invested in your education.
I live my life based on what I have learned from Anthony Robbins.
I have implemented CANI (Constant And Never-ending Improvement) in my life.
We are all students in the institution of life and we should always be in a mindset of learning.
Some people feel overwhelmed and feel they cannot learn anything new.
This is only a self-limiting mindset and can be easily overcome.

10% of your money should be spend on the things you want.
You should use this money to reward your successes.
If you have a family, take a special trip and spend quality time with them
to compensate for the extra hours you had to spend completing a project.
Maintain balance between your personal life and your business.

The last 70% is reinvested in additional property and your business.
This is your working capital.

Where do you find opportunities?

The public trustee's office
• Get to know the people in you county government office.
They can be incredibly helpful. Many county assessors offices are online now as well.
Some are starting to charge a subscription fee but most are free.
You are able to search for tax records as well as some such as Salt Lake County
have a listing of delinquent tax records and when they what year they will go to auction.

Official Publications
• Maricopa County in Arizona has a publication that comes out 2-3 times a week and
is available at Border's Books or by subscription. This publication documents all
public record notices for the week.

List services
• There are many services out there for foreclosure properties.
The service is only a good as the data. If it is not updated on a regular basis,
most times the properties are gone before they are reported.
Free searches of the lender websites I use are available @ http://www.freeforeclosuresites.com/

Investor's Clubs
•You may be given opportunities that others can not do a great resource for networking with other investors ?· http://www.realestatepromo.com/InvestmentClubs/index.html

Your Network
•Anyone may know someone with a property for sale at a discount.
Use the three-foot rule and don't be afraid to talk to people around you.
An opportunity might be standing next to you at the grocery store.
•Bankers - Concentrate on local banks
•Realtors - Pocket Listings that are not posted on the MLS
•Existing homeowners - start your own welcome wagon or hold an open house
in your own house to build a list of potential buyers for your investment properties.

I hope you have enjoyed this issue and found something new you haven't thought of yet.
I plan to release these newsletters at least on a monthly basis. I would like to increase the
distribution to possibly a weekly basis if you like what you see.

I am currently working with 4 other investors building a base in Las Vegas.
We have 4 properties under contract this month to start.
We are working with a great realtor down there, Jason Tomei.
If your interested in the Las Vegas market and would like more details about what the trends are there,
check out his website at http://welcomehomelasvegas.com.

If you found value in this newsletter and would like to let me know, I can be reach at kdavis@jasminedeveloper.com.

To find out more about the seminars and products we offer, check out our other site http://www.inwiththenew.com/firehorse.

Have a great week;
Kevin