Posted by Greg Meade on August 22, 2003 at 12:50:20:
you had to have a yard sale and sell all your cd’s or toys. Making lots of money (lonnie style) doesn’t work if you can’t minimize taxes (l/o) and direct the income stream effectively(Ernest). Good Luck!
Lonnie or Tew - Posted by Jason
Posted by Jason on August 22, 2003 at 12:36:01:
If you had just enough cash to buy one course, would you buy Lonnie’s or Ernest’s?
Actually, I would definately buy Ray’s but between Lonnie and Ernest, I ain’t sure…
Re: Lonnie or Tew - Posted by Philip
Posted by Philip on August 22, 2003 at 19:23:27:
I did 3 Lonnie deals, and now am ready to do my first l/o. I have read a little about it here and talked to my lawyer, who is familiar with it’s details in Missouri.
I do plan to buy Ernest’s course in the future. Especially if it deals with l/o on the buying end, with larger transactions.
Philip
Re: Lonnie or Tew - Posted by Jeff Ward
Posted by Jeff Ward on August 22, 2003 at 16:10:55:
The best place to actually start in my opinion is Lonnie’s book Deals on Wheels. There you learn all the basics for 30.00. But I also have Ernest’s course, which is also fantastic, and it teaches, again in my opinion, a much more practical way to structure the buying and selling homes in to a net lease which really minimizes the taxes significantly. So, if you can only do one, start with DOW, do a couple of deals and then get the other course as quickly as possible to fine tune your technique and minimize the tax consequences. Just my 2 cents.