A Strong foundation

Starting in the creative real estate business can be very fun and rewarding. Like starting any business the fun is in the challenge and in the learning. There is so much to learn. Put in the time, master the education curve and the money will come. To begin with, there are so many different innovative ways to create wealth in RE that it can be a source of overwhelming concern. I write this chapter to encourage you to begin with a logical approach to the task ahead. Learn to leverage your time!

First and foremost, study as much FREE information as you can get your hands on. There are literally thousands of resources that can get you started. May I suggest the website www.WealthAddress.com. There you will find over 6,800 articles on creative RE. The articles there are free for you to consume. In addition you'll find previously recorded teleseminars and other helpful resources.

Also at www.WealthAddress.com you may want to follow along with a documentary The Wealth Address Millionaire Challenge which takes a complete NEWBY, Wesley O?Neill, from ground zero to his first RE purchase and beyond (We hope). It is a LIVE ? DAILY documentary of a young man being mentored by 2 successful RE investors. While the mentoring process is planned step by step, Wes' success and failures are live and in virtually unedited form. Wesley's journey begins on June 14th, 2007 and is cataloged in chronological order for anyone to follow along with from the beginning to the end no matter when you discover this educational jewel.

Use free materials to narrow your search. Study some or all of the different techniques of creative RE until you find the method that best suites your personality. Be it 'short sales' or 'foreclosures' or 'wholesaling' or' well, the lists go on and on but hear this; it is smarter to do your research and THEN zero in on the materials that fit your needs. Example: once you've decided that Foreclosures is what you absolutely want to do' and after you've read every FREE thing you can get your hands on about foreclosures' then, and only then, is it the right time to pick a seminar or course to spend your hard earned money on. If you've done enough 'free perusing' you will undoubtedly have a long list of EXPERTS willing to take your money in exchange for their knowledge on that particular subject.

Don't become one of those people that go to a seminar right off the bat and spend a good deal of money only to find that the particular path isn't really for them. I?ve seen this happen a hundred times. People go to a short sale seminar and buy everything the Guru has to offer. A few weeks later they go to a foreclosure seminar and they buy all the materials that Guru has to offer and on and on. The point of buying ANY material is to stop doing everything else and focus in on becoming an expert in that arena yourself. Moving from one subject to the next is confusing and expensive to say the least. For a beginner (or even a veteran) one seminar can be like drinking water from a fire hose. Information overload can paralyze a person.

I am also aware of a certain personality type that seems to get a thrill out of ?Setting Up' the business, dreaming about how a successful business will be, and then never getting down to business. These people choose a name for their business, Register their D.B.A. (Doing Business As ? name), design a logo, buy business cards, research the different types of business entities (LLC, S-Corp, Nevada Corporations, etc.), research accounting systems, consult with attorneys about trusts, yadda, yadda, yadda' and never get to the ?Doing Business' part. Don't go that route. It can be expensive and energy sapping as well.

While there are things you can and should do to prepare for business, don't get overwhelmed with the semantics of business. Make a deal as soon as you're able, turn it for a profit and put some money in your pocket to prove to yourself that you have a viable business first. Keep good records (income and expense receipts by project), pay your taxes, and hone your craft. With good records you can back track everything into the software of your dreams AFTER you've proven you can generate some cash.

Let's try to start out in a logical, inexpensive, step by step path. First of all you are going to have to get some education. You can definitely plan on this; your education in RE will never end. The challenge is to NOT get spread too thin by trying to take in information from every which direction on every conceivable creative RE technique out there. As previously stated, use free resources to narrow your search for the technique that best suites you. Then, stick to that subject until you've mastered it. You will have mastered it when you can routinely make a paycheck from that specific technique.

There is absolutely some amount of multi-tasking that should be going on. A certain amount of multi-tasking keeps us from getting bored. Changing the gears back and fourth from simply getting educated to actually taking action is a good thing.

So here are some suggestions:

GET YOUR MIND RIGHT ? If you've never been an entrepreneur, you are going to have to understand the mind set. Being your own boss is a different way of thinking. My personal transformation from employee to entrepreneur started with reading or listening to tapes and CDs.

I personally like CDs because I can use the down time I spend in my car getting educated. I have heard this approach referred to as the Auto University technique. Simply leave an educational CD in your car stereo. Every time you get into the car make sure it is being played. When you can recite the next line before it is said on the CD? you've absorbed the information on that CD. Put the next CD in and repeat until you are an expert on the subject. You will be amazed at how much you can retain. Imagine the hours you've wasted already, listening to thousands upon thousands of commercials and songs you don't even like. Here are some books/resources that have helped me tremendously. Many of them are on CD.

*Think and Grow Rich

*The Science of Getting Rich

Psycho-Cybernetics

The Millionaire Next Door

Self Made in America

The Richest Man in Babylon

Rich Dad Poor Dad

The E Quadrant

The E Myth

*If you are unsure of your commitment to be an entrepreneur or if you are on a tight budget www.WealthAddress.com offers a few of these books for free. Simply go to the site and sign up for their free gifts. You will also receive some very necessary e-books and their free newsletter as a result. In this case Free is good' and so is the information you'll be getting.

The importance of getting your mind right is as important as building your home on a solid foundation. It is crazy not to start out with the shaping of your own mind. If you are wise enough to actually read Psycho-Cybernetics you will undoubtedly know what I am talking about. Even if you do not end up in the field of creative RE you will be better off for having read any of these books. Personally, I can say that these books have altered my life profoundly.

TAKE ACTION NOW!

Visit www.WealthAddress.com

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