You Can Pay Now, Or Pay Later - Posted by Lonnie
Posted by Lonnie on February 02, 2000 at 18:05:47:
Hardly a day goes by that I don?t see a post on here from someone that?s either already gotten themselves into a disastrous deal, or heading full speed into one. It?s amazing how some people will spend more time (and money) buying a suit, than they will to learn what they need to know to keep from making a bad deal. In many cases, knowing what NOT to do is more important than what to do. Many folks would be successful if they could only stop making big mistakes.
Case in point: Had a call last night from a woman that sold her MH. She didn?t bother learning how to do it the right way, she just found somebody with a few bucks, a promise and bingo…she had a sale. After letting her buyers get FIVE months delinquent on the payments, she finally took them to court to repo the home. But, because she filed the wrong type of warrant, had no bill of sale, and only a COPY of the promissory note (she gave the original to her buyers who denied it), the Judge continued the case for 30 days and advised her to get a lawyer. In the meantime, her deadbeat buyers get to live at least another month (probably more) for free. She wouldn?t take time to learn how to do it right the first time, so she?s paying now.
How much will this woman pay for her lack of knowledge? I don?t know, but you can bet it will be a lot more than the cost of a book, course or a seminar. But that?s just an example of how some people choose to do business first, and pay for their education later. Folks, unless you like disaster, either know what you?re doing, or listen to someone who does. And if you?re not willing to make a financial commitment and pay for your education, then you?re not serious about becoming financially successful.
Joanne?s hairdresser asked her today "if you had $50,000 to invest, where would you put it? (I think they were just left an inheritance.) I checked with the bank and they had all kinds of investments and plans, but none of them pay anything. (Sound familiar?) Joanne said, “I would probably invest in well secured deed of trust notes, or some type of good passive income producing assets”) Her hairdresser said, “a deed of trust note? What?s that, and where do you find one?”
This woman learned how to be a very good beautician, but learned nothing about money. Her husband just retired from the military, but the military taught him nothing about money. I hope they do something wise with that $50,000, but I have to wonder how much they will have next year?
Some friends of ours inherited a large sum of money about 10 years ago. And not knowing anything about investments, and unwilling to take the time or make the effort to learn, turned all of it over to a stock-broker and trusted him to make wise decisions with their money. In just a few years, almost all it was gone.
Folks, money won?t hang around people that don?t understand money. Yet, I hear so many people talk about wanting to make a lot of money, and get rid of that job, but they study everything except money. I?ve heard it said that you become what you study. So, if you haven?t become what you want to be, and as successful as you want to be, maybe it?s because you?re studying the wrong things. So what to do?
If you know what you want to do, then seek out the most successful people that are doing what you want to do and learn from them. If you don?t know yet what you want to do, then make the effort to listen to as many different successful people as you can, and then decide what?s best for you. And the best place to do that is at the CRE Convention in Atlanta. You will hear 10 different speakers talk on 10 different subjects. You will spend three days and nights with not only the speakers, but several hundred other people. Some will be newbies, some will have a deal or two under their belt, and some will be old time successful investors. Regardless of where you are now, you will leave the convention with a lot more knowledge, than you had when you got there. So if you?re not getting what you want in life, take a good honest look at the reasons (excuses) that?s preventing it. And remember, doing nothing is a decision to stay where you are.
Whew! I had no idea when I started this, that it would turn into a novel. It?s not often I get in the typing mode anymore. But, I hope this will help some of you that?s still undecided, that a trip to Atlanta is well worth the time and investment.
I?ll close with several excerpts from Robert Kiyosaki?s book “Rich Dad, Poor Dad” (Robert Kiyosaki will be the keynote speaker. Isn?t that enough incentive to attend?)
· What you know is your greatest wealth. What you don?t know is your greatest risk.
· Most people look only to their next paycheck instead of the future.
· You?re either the master of money, or the slave to money.
· The type of people you spend your time with determines your future.
Joanne and I will be at the convention. Where will you be?
Best to all,
Lonnie