Posted by Todd (AZ) on March 19, 2006 at 15:46:24:
I, too, am wondering when Lonnie’s new book will be out and at least what the TOPIC is? Anyone know? Todd (AZ)
Congrats Lonnie !!! - Posted by Tony Colella
Posted by Tony Colella on March 04, 2006 at 09:16:11:
After 35 years, Lonnie is no longer a LandLord!
35 years to the day he bought his first rental property. He just sold off the last of his property in a deal he described to those of us at our boot camp.
I know that most read or hear the word Land Lord and panic sets in. All kinds of nightmare stories come to mind. The stories of your neighbors, cousin’s, co-workers, best friend who had a tenant trash their home after not paying rent for 6 months.
Folks, if Lonnie’s tenants were really like that, would he have made it 35 years?
Taking control of you business and your deals eliminates the majority of the horror stories and tames most the rest. Yes, sometimes a tenant skips out without paying rent (so did my Lonnie deals and how about those stock market fluctuations?).
Put landlording into perspective. We must approach this as a business. Look what Land Lording did for Lonnie. Owning real estate provides all 3 legs of our investing stool: Cash flow, access to lump sums of cash (tax free refi) and net worth growth. From there we can focus on any individual leg of the stool because our investments are on a stable platform.
I have learned over the years that Lonnie’s approach to life and business have fit me very well. Even when I discover new ideas or new approaches, I find Lonnie has tried something similar and tweaked it to make it better. Somethings work better or worse for me here but Lonnie’s methods have stood the test of 35 years. I continue to push the envelope of thought and application in what I do. When I talk with Lonnie or hear him answer a question I realize he too did the same and continues to do so today.
For those of us who wish to follow Lonnie’s path, don’t forget where he started and where it took him.
Tony
Re: Congrats Lonnie !!! - Posted by Lonnie
Posted by Lonnie on March 05, 2006 at 08:27:27:
Thank you Tony, Tim & Marty for the nice words. Yes, it?s true. For the first time in 35 years I?m tenant free. No job, no tenants, no bills & I?m still getting mail box money! (Hope I don?t have to go through tenant withdrawal.)
Folks, it?s been a great ride. For 35 years I?ve been able to call my own shots, make my own decisions, and be completely independent of a job. And looking back, I wouldn?t have traded it for anything. Once you taste financial freedom & financial security & realize you have the power to make your dreams a reality, nothing else comes close.
But I?m not through or ?retired? , just doing other things that are fun & profitable. And I hope I?ll get motivated enough to finish that book I started 5 years ago & tell you about my current money making business. Even better than mobile homes!
May each of you enjoy a job-free life of financial freedom and financial security. You have the ability and the power to create your own successful future. So don?t let your fears steal your dreams. It?s later than you think, so go for it!
My best to all,
Lonnie
Re: Congrats Lonnie !!! - Posted by TimW (MI)
Posted by TimW (MI) on March 04, 2006 at 11:22:01:
I wish to Congratulate Lonnie on his rerirement of 35 years of Land Lording, I would also like thank Lonnie for sharing the business model that he has developed and tweeked over the years that has helped him through out his 35 years of being a Land Lord. Although I have not meet him personally ( A Family matter prevented him from attending Scott and Tonys 1st boot camp) I have benefited so much from him through his postings here at Cre Online, his books and the many people he has helped over the years including Scott,Tony,Karl,Mike,Don and the list goes on. Again Thank you Lonnie and Congraulations.
great post, Tony - Posted by Marty (MO)
Posted by Marty (MO) on March 04, 2006 at 09:35:22:
I love it that you pointed out Lonnie’s wonderful approach to LIFE and business. Of course I love Lonnie’s business model, but after meeting him a few times, I’m more impressed with the man- I can’t think of a better mentor. The few times I’ve talked to him, he always emphasized family, freedom, and independence… the things we all say we want. This is leadership in action!
And, of course, congratulations to Lonnie on his latest success.
Marty
Re: Congrats Lonnie !!! - Posted by marlin.Pa
Posted by marlin.Pa on March 19, 2006 at 14:02:49:
LONNIE. When are you going to let us know about your current money making business I would love to know about it. Thank you for the other books Great reading I learned a lot I did 7 lonnie deals since sept. 2 for cash I have no money in the deals. we have an income of $850.00 for 2years so far. Some of the income gave us a down payment on a duplex for $1000.00 income a month. also I would like to Thank Tony for his book also and every body that post on the board. Marlin