Posted by Soraya on May 12, 2000 at 21:13:19:
But it takes persistence and knowledge.
Buy Wm Bronchick’s and Joe Kaiser’s Lease Option courses.
Soraya
Are there a lot of investors out there that started off with very little money and bad credit? - Posted by Alan
Posted by Alan on May 12, 2000 at 18:55:06:
To whom it may concern,
I was just wondering if there has been a lot of investors out there that started with very little money and poor credit, but became very successful and made a lot of money?
I just want to look at their examples of succsess, which will motivate me to become successful in investing. (even though my credit is not perfect and I have very little cash).
I wish you all the best who read and reply to this.
Thanks
Alan
How 'bout NO money and NO credit? - Posted by Bill Gatten
Posted by Bill Gatten on May 13, 2000 at 13:19:02:
Neither element (money nor credit) is a finite necessity or specific determinant in becoming successfulNeither element (money nor credit) is a finite necessity or specific determinant in becoming successful…OR wealthy (two different things). Money and credit just make the process a whole lot easier (and less stressful). Though…having one or the other, or both is definitely a “real good thing”: though credit and cash are wholly replaceable with honesty, integrity, punctuality and persistence.
None-the-less, when I started in this business fifteen years ago, I had LOTS of money and great credit: I had a burgeoning business, a big boat and a bevy of buxom babes (say that with a mouthful of soda crackers). But I took it all waaaay too much for granted, and lost it in 1989, along with my velvet Elvis painting and my entire rear end (100%…and then some). But, as is often the case, I have done just fine since then, largely because of a card a friend gave me (kind of a mantra, I guess)…which I taped to the dash board of my car, and which is still there today, browned and frayed around the edges (having, however, survived three different new cars since then).
It reads simply:
“I am in tune with the abundance of all life within the universe and, therefore, can only prosper in spectacular ways…always.”
?Sound corny? Well…it works reeeel good! I repeat the words less these days than I did in the beginning, but the need for frequent repetition has decreased dramatically over the years.
Nowadays I have “ample” asset reserves and sufficient cash, but don’t really need cash (to buy RE with anyway). I still have no credit (zero…zilch…nada…blamo-blooey), but have learned…by living without it for so long…that I don’t need it. It was like being weaned off air in the beginning, but after a while, I became aware that having no credit was keeping me out of debt (and THAT was what had caused all the problems in the first place).
[I think it was Paul Simon who said: “Nowadays you can’t borrow enough to get COMPLETELY out of debt.”]
But, nonetheless?I now earn a large portion of my income by showing folks how to begin the walk from Mooch to Millionaire: with stress and angst?but with certainty and dignity as well.
You?re no different that an acorn. Within that tiny shell you call ?me? is the entire massive oak tree you are destined to become. When you believe it, you?ll see it.
Neither element (money nor credit) is a finite necessity or specific determinant in becoming successful…OR wealthy (two different things). Money and credit just make the process a whole lot easier (and less stressful). Though…having one or the other, or both is definitely a “real good thing”: though credit and cash are wholly replaceable with honesty, integrity, punctuality and persistence.
None-the-less, when I started in this business fifteen years ago, I had LOTS of money and great credit: I had a burgeoning business, a big boat and a bevy of buxom babes (say that with a mouthful of soda crackers). But I took it all waaaay too much for granted, and lost it in 1989, along with my velvet Elvis painting and my entire rear end (100%…and then some). But, as is often the case, I have done just fine since then, largely because of a card a friend gave me (kind of a mantra, I guess)…which I taped to the dash board of my car, and which is still there today, browned and frayed around the edges (having, however, survived three different new cars since then).
It reads simply:
“I am in tune with the abundance of all life within the universe and, therefore, can only prosper in spectacular ways…always.”
?Sound corny? Well…it works reeeel good! I repeat the words less these days than I did in the beginning, but the need for frequent repetition has decreased dramatically over the years.
Nowadays I have “ample” asset reserves and sufficient cash, but don’t really need cash (to buy RE with anyway). I still have no credit (zero…zilch…nada…blamo-blooey), but have learned…by living without it for so long…that I don’t need it. It was like being weaned off air in the beginning, but after a while, I became aware that having no credit was keeping me out of debt (and THAT was what had caused all the problems in the first place).
[I think it was Paul Simon who said: “Nowadays you can’t borrow enough to get COMPLETELY out of debt.”]
But, nonetheless?I now earn a large portion of my income by showing folks how to begin the walk from Mooch to Millionaire: with stress and angst?but with certainty and dignity as well.
You?re no different that an acorn. Within that tiny shell you call ?me? is the entire massive oak tree you are destined to become. When you believe it, you?ll see it.
Bill Gatten
PS, now that I?ve written this letter to myself (though for your benefit, as well, ?I feel good again.
Bill Gatten
PS, now that I?ve written this letter to myself (though for your benefit, as well, ?I feel good again.
…OR wealthy (two different things). Money and credit just make the process a whole lot easier (and less stressful). Although, having one or the other, or both is definitely a “real good thing”: but never forget that credit and money are wholly replaceable with honesty, integrity, punctuality and persistence.
None-the-less, when I started in this business fifteen years ago, I had LOTS of money and great credit: I had a burgeoning business, a big boat and a bevy of buxom babes (say THAT with a mouthful of soda crackers). But I took it all waaaay too much for granted, and lost it in 1989, along with my velvet Elvis painting and my entire rear end (100%…and then some). But, as is often the case, I have done just fine since then, largely because of a card a friend gave me (kind of a mantra, I guess)…which I taped to the dash board of my car, and which is still there today, browned and frayed around the edges (having, however, survived three different new cars since then).
It reads simply:
“I am in tune with the abundance of all life within the universe and, therefore, can only prosper in spectacular ways…always.”
?Sound corny? Well…it works reeeel good! I repeat the words less these days than I did in the beginning, but the need for frequent repetition has decreased dramatically over the years.
Nowadays I have “ample” asset reserves and sufficient cash, but don’t really need cash (to buy RE with anyway). I still have no credit (zero…zilch…nada…blamo-blooey), but have learned…by living without it for so long…that I don’t need it. It was like being weaned off air in the beginning, but after a while, I became aware that having no credit was keeping me out of debt (and THAT was what had caused all the problems in the first place).
[I think it was Paul Simon who said: “Nowadays you can’t borrow enough to get COMPLETELY out of debt.”]
But, nonetheless?I now earn a large portion of my income by showing folks how to begin the walk from Mooch to Millionaire: with stress and angst?but with certainty and dignity as well.
You?re no different that an acorn. Within that tiny shell you call ?me? is the entire massive oak tree you are destined to become. When you believe it, you?ll see it.
Bill Gatten
PS, now that I?ve written this letter to myself (though for your benefit, as well, Alan, I feel pretty good. How 'bout you?)