1. Reduce Your Household Expenses.

In California, we have some of the highest real estate prices in the nation so reducing living costs can be a sacrifice. One move that I have seen many real estate moguls make is that they start off their portfolio with a multifamily investment.

For example, if you are a first-time home buyer (or even an empty nester), be open to the idea of purchasing a duplex or other multifamily property instead of a typical single family residence. This way, you can live in one unit and rent out the other for income.

As a landlord myself, I know it’s not easy to live near tenants, but if you screen your prospective renters correctly, it will reduce future nightmares. Be smart, let other people pay off your mortgage! You can always save money and then buy another home later, after you build a passive income stream.

2. Increase Your Formal AND Financial Education.

Did you know that earning a bachelor’s degree can increase your income by $25,000 annually? Plus, it gets better:

According to Census Data, earning a graduate degree will net a person another $20,000 per year — that’s $45,000 more, year after year!

Now, don’t complain about the high cost of education or how “hard” it is to go back to school. My former neighbor was in her 50s, running her own business and attending?graduate school part-time. It’s never to late!

It’s also important to keep in mind that universities do NOT teach people how to get rich. So on top of your formal education, start taking classes about investing.

Financial classes are taught at most adult schools and colleges for a nominal fee. I have also attended real estate seminars for many years and have learned great tips from a variety of mentors.

3. Be an Aggressive/Conservative Investor.

Although it may sound like an oxymoron to be both aggressive yet conservative, it isn’t. It’s all about planning. The amount of risk you take with your money should be related to your age.

The younger you are, the more risk you can handle. But, don’t be foolish: One should never invest in something they do not fully understand. If stocks interest you, start learning about the market.

Learn how to decipher financial statements. If real estate is your game, start attending REIAs (Real Estate Investment Associations).

Also, don’t get greedy! I’ve known investors so desperate for that 20% return that they gave their money to unscrupulous companies only to never see their principal again!

Guard your principal, settle for less interest if need be. If the money is lost, it can take years to rebuild.

4. Don’t Follow the Crowd.

Most Americans are broke, why on Earth would you follow their bad habits? Trying to keep up with your neighbors can destroy your chances of financial freedom. Also be mindful of competition between family members.

For example, some families love to outdo each other in their travels. It’s non-stop cruises, trips to Hawaii, and weekends in Las Vegas. But guess what? They’re BROKE!?

Some people who know me may make fun of my frugality. They can jest all they want because I’ll be laughing all the way to the bank!

Many wealthy people are odd and eccentric, I used to think that money made them like that, but now I realize that they just don’t care about what others think. It was probably this defiant attitude that helped make them rich in the first place.

5. Saving is Sexy, It’s Fun to Be Frugal.

If saving is a deplorable chore, you won’t do it. If clipping coupons and wearing off-the-rack clothes is beneath you, then you need to change the attitude.

Start making a game out of saving and being frugal. See how much money you can put away in the cookie jar each week. Before you spend a dime, consciously think about the action you are taking.

Figure out if there is a better way to get what you need at a lower cost. Can you buy it second hand? Does someone else you know need the same thing? Can you barter an item or service in exchange for what it is you need?

Hold on to your pennies because they can accumulate into a fortune.

6. Step it Up a Notch.

Let’s get one thing straight, the 4-hour-work week is a complete myth. The reality is: Success doesn’t come easy. If it did, everyone would have a few million dollars in their bank account.

The wealthy people I know, who were not born with a silver spoon, toiled endless hours to get where they are. Sometimes they worked two jobs just to be able to pay off college debt or save enough money for a down payment on a home.

Others returned to school and juggled employment and family obligations for many years.

If you are not happy with your lot in life and you feel you deserve better, don’t just wish it to be so and wait. TAKE ACTION.

Don’t be lazy, don’t make excuses, and don’t feel sorry for yourself. Stay positive, keep focused, and you will see abundance before you know it.

I hope these ideas will inspire and light your path towards financial freedom.

To your abundance,

Linda Pliagas
founder/publisher Realty411
http://www.realty411guide.com

I welcome your comments, please contact me at:
info@realty411guide.com or 310.499.9545

by Linda Pliagas, founder/publisher

at the Beverly Hills Country Club, Feb. 2, 2012

Starts at 7 pm. Hosted by Sam’s Real Estate Club

http://samsrealestateclub.com/

The following are some notes I am taking to help me convey my tips for real estate success.

I hope you like them!

Humble yourself to achieve greatness.

Sometimes we have to start at the bottom or ask for help. Don’t be to proud to ask for assistance.

Sacrifice and Save, it’s good for you.

Don’t fall for the “instant gratification fix”. In order to start as an investor, you do need some money. Be careful of your spending habits, always put away money for short and long-term investments.

Enjoy the AWESOME Ride.

Success is not a Destination, It’s a Way of Life. Don’t wait to be happy until you’re a multimillionaire. Be happy and thankful now, but always expect and strive for greater.

Work as hard as you WANT IT!

Don’t just sit back and relax and wait for abundance. Go out there and make it happen. Be proactive, take measurable steps towards your goals. Success is not meant to be easy, so how badly do you want it?

Your best investment Starts with Yourself.

Having a solid educational foundation is important. Having a degree can up your annual income by $25K. A graduate degree will give you $45K more, year after year!

Your level of education is also important in how you perceive yourself and how others perceive you. It’s also important to also take seminars, boot camps and refresher courses to keep up to date with what is going on.

Leverage is a Double Edge Sword

Using leverage to grow your portfolio is important, however proceed with caution. Being over-leveraged is risky and can send your portfolio tumbling. Be wise on what you can handle, slow growth generally means stable growth. Don’t be so obsessed with having so much that you end up losing everything due to greed.

The Golden Rule: Do unto others…

Real Estate is a relationship based business. We need our property managers, they need landlords.

We need our tenants, they need investors. Don’t be cocky and belittle people, everyone has a special gift and talent.

So always be gracious and charming, which is NOT EASY.

Remember: If you are a joy to be around with, you will never lack business, real estate partners and deals!

People will bring success right to your doorstep and want to help you because they LIKE you.

The ladies show that real estate wealth is available to all of us!

To pre-register for our monthly meeting click the link below:

Kathy Fettke hosts the Real Wealth Show on KABC. She is an active real estate investor, specializing in helping people build multi-million dollar real estate portfolios through creative finance and planning. Kathy is frequently featured on CBS MarketWatch, CNN, ABC and NPR.

Ginger Macias is an active wholesaler, rehabber, landlord, and educator. She founded OCWholesalers.com in 2008 which has been supplying investment properties at a discount to rehabbers, landlords, and end-users. Ginger’s extensive marketing and referral base has enabled her to acquire properties quickly at a huge discount.

Linda Pliagas is Publisher of Real Estate Wealth magazine and has managed property in 5 states. Linda has been interviewed by the Los Angeles Times, The Wall Street Journal, the Daily Breeze, and has appeared on numerous television and radio interviews.

Meet our power panel of women and learn:

• Learn how to invest in this market and create wealth for you and your family.
• Learn the rewards and challenges of being a woman in the real estate business.
• Learn that real estate is an equal opportunity industry.
• Learn there is no excuse not to take action for anyone!
• Ask those burning questions you need answered to get started today!

We will be holding our February 2012 Monthly Meeting at the beautiful Beverly Hills Country Club.

6:30 pm – Networking & Registration.

7:30 pm – Sam’s Insight followed by the Guest Speaker.

Click Here to reserve your seat for this event or

 

call 1-800-998-9930 Ext 5.

EVENT TO BE HELD AT THE:

Beverly Hills Country Club, 3084 Motor Ave

Los Angeles CA 90064

 

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Reserve your seat online for $10 per person.

At door entry is $15.

Includes Valet Parking.

Please note:

The Beverly Hills Country Club (BHCC) now restricts the use of the rear parking lot to their members only. Please be advised that you are no longer allowed to park in the rear of the building. You may use the valet parking (it is free, just be sure to tip your valet) or utilize the street parking that is available. If you park in the rear of the building, BHCC has advised us that your vehicle will be towed at the owners expense. We apologize for this inconvenience.

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A Press Release from MemphisInvest.com

Join Us for a Dallas Meet & Greet.

Date: Tuesday, February 21, 2012
Time: 5pm – 9pm
Location: Omni Mandalay Hotel, 221 E. Las Colinas Blvd.,Irving, TX. 1-972-556-0800

One of the greatest joys we receive as a company is the opportunity to meet with investors one on one where they live.  For the past two years, the owners of MemphisInvest.com have made it a point to travel to cities across the country near where our investors live and give them an opportunity to speak in person.  In 2011, we were honored to have met 400+ investors – some current clients and others simply wanting to hear why Memphis Invest stands out among the many opportunities investors have today.

We are kicking off 2012 in Dallas, TX. after having over 50 investors meet with us in October of 2011 near DFW Airport.  That was a fantastic night for all involved and we are excited to get back to Dallas and see our friends again as well as meet new investors.

These events give investors an opportunity to:
• Meet the family and team that makes up MemphisInvest.com
• Learn the ease of which you can start investing in Real Estate
• Review the investment process & view example investment properties
• Have a one on one with one of our portfolio advisers
• Network with other investors who are taking action!

Let Memphis Invest show you our form of southern hospitality and customer service when it comes to real estate investing. Providing you with high quality, turn key, cash flow properties in a completely passive environment is our specialty. Assisting you with investing in Memphis real estate for long-term wealth building is our passion.

We look forward to seeing you in Texas!

TO SIGN UP FOR THIS EVENT OR FOR MORE INFORMATION, PLEASE CLICK HERE!

 

 MemphisInvest.com is a Proud Sponsor of the Bigger Pockets REI Summit 2012

Bigger Pockets Summit

Dear Investor;

It’s decision time. 

• If you don’t like things in your life you have the power to change them by simply changing yourself —  things don’t change, but you can!  Any little modification can make a difference – an introduction of something new, an exercise routine, a daily reading schedule,  journaling, or simply bonding with your family.

• How you present yourself to the world makes a difference, how you look, how you speak, how you interact with others, who you interact with, what you read, what you spend your time doing.  What is your message to the world?  I am here, ready to take on a new challenge and I want to change the world in a positive way… it is your choice.

• I have always been incredibly optimistic but now as I grow and learn to navigate this game called  life, I have come to embrace this gift that I have been blessed with every day.  How do I do that?   I start my day with a prayer of gratitude naming the things that I am grateful for – my family, my warm cozy home, my friends, a hot cup of tea, a great book, quiet time to think,  process or write, my warm SJREI business community.
By appreciating these things, and so many other seemingly trivial things I am happier, more content and I realise that what I appreciate grows more secure, and becomes more defined in my life.
Try it — I think you will like it too.

• There are people who drag us down —  nay sayers if you will.  Remove those people from your life.  If they are your family members, show them a new way to be by mirroring for them your great new attitude. My Dad shared with me (he ran a company, and had a family of six daughters, two sons and a wife!)  that sometimes he survived by “psychologically absenting himself” from negative situations.
How do you do that?  Tune them out, capitulate, get away from situations, people and attitudes that don’t propel you forward.  Remember to be gentle as you work on this and have patience with yourself, this is a process it does not happen over-night.
• Lastly, live in the moment – whatever you are doing give it 100% of your attention.  Walking the dog, having tea with a friend, working, talking to your children – be present, enjoy that moment.  Your family and friends will love you for this level of attention —  very few people can truly do this.  Be wary of electronics they can be thieves of our time, and our spirit…the things that renew you are not material —  they are love, companionship, friendship, family, community, giving back.
Be brave, do whatever it takes to accomplish new results — Make 2012 your best year yet!

Geraldine Barry is founder and president of SJREI Association the premier educational and networking association for real estate investors in the Bay area. Under Geraldine’s leadership SJREI has grown from a half-dozen investors to a vibrant three chapter organization with over 400 investors attending monthly meetings.  In addition to leading SJREI, Geraldine is the frequent host of the radio program, Going Beyond Real Estate, a regular guest on the nationally broadcasted NTDTV, publisher of award winning publication REI Voice Magazine, and producer of the much acclaimed annual Bay Area Real Estate Expo. Geraldine resides in Silicon Valley, and is the proud mother of Colin and Claire, her two children.
Contact Geraldine Barry at: sjrei.geraldine@gmail.com

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Now that you’re all grown up, you’ve got a different set of assignments you have to turn in. Few of them are more important than your annual tax return. Of course, even grownups sometimes forget their homework. But the IRS won’t be buying that school kid whine!

Take supermodel Christie Brinkley, for example. Earlier this month, the IRS filed a lien for $531,720 in unpaid taxes against the “Uptown Girl’s” $30 million country estate in swanky Bridgehampton, NY. That unpaid balance, of course, is also subject to interest compounded daily and a 0.5% monthly late payment penalty. Brinkley’s publicist told E! Online that she “was surprised to hear today that a tax lien has been filed, and has instructed her team to resolve the matter immediately.” Brinkley herself stated that “I have been, and remain focused on my whole family as both my parents navigate serious health issues.”

At least Brinkley is facing the music willingly. Rapper Bow Wow — who must not think his “real” name (Shad Gregory Moss) gives him the street cred he wants — is putting up more of a fight. In November, the IRS filed a $91,105.61 lien against him for taxes dating back to 2006, when he was just 19 years old. But Bow Wow isn’t taking this one lying down, declaring “we all know not to believe anything the media writes or blogs.” And Bow Wow isn’t the only rapper to run afoul of the IRS. In August, Beanie Sigel pleaded guilty to failing to file tax returns for three years in a row. (Prosecutors believe he owes up to $700,000 more in unpaid taxes dating back to the 1990s, but the statute of limitations has run out.) And in July, Ja Rule earned 28 months of federal housing for failing to file returns for tax losses from 2004 through 2008.

Rappers aren’t the only musicians who don’t always pay their taxes. Back in April, the IRS hit former Black Sabbath frontman and reality star Ozzy Osbourne with liens totaling over $2 million for unpaid taxes from 2007, 2008, and 2009. Ozzy’s wife Sharon took to the “twitterverse” to admit her finances had gone off the rails. “You can’t rely on anyone but yourself,” she tweeted. “You have to be on top of your own business affairs. My fault…lesson learned.”

And musicians, in turn, aren’t the only celebrities who don’t pay taxes. Former Green Bay Packers left guard Frederick “Fuzzy” Thurston dominated the frozen tundra of Lambeau Field from 1959-1967, then opened a chain of restaurants called the Left Guard after retiring. He and his partners withheld taxes from their employees’ paychecks — just like they were supposed to — but they didn’t actually pay the bill. Way back in 1984, the court flagged him with a $190,806 penalty for “roughing the IRS.” With interest, that bill has grown to $1.7 million. Federal marshalls even seized his Super Bowl II ring commemorating Green Bay’s 33-14 victory over Oakland to help pay!

Of course, our job is to make sure you don’t need excuses for not paying your taxes. Proper planning is the key to making that bill affordable, and making sure you don’t ever have to tell the IRS that the dog ate your homework!

Article contact Information:

Glenn R. Wilson
3887 State Street, Suite 110
Santa Barbara, CA 93105
805-898-9177
Fax 805-898-0117
www.abwtax.com

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Instead of concentrating on the $1600 she needed, Martinez focused her energy on keeping her New York City apartment. She says she did not worry about how or when she would get the cash. Four days later, odd jobs presented themselves and she was able to accumulate enough funds to pay off the menacing landlord.

Martinez, now a doctoral student in metaphysical science, says she was not surprised by her fortunate outcome. In addition to being a scholar, she is a practicing spiritual counselor and founder of HealingSpirit.com (http://www.healingspirit.com), a website that aides people in their spiritual growth, so she knows firsthand the power individuals have in attracting prosperity.
People from many religions — from evangelical Christians to New Age followers — believe money is a spiritual force that can be obtained by all who properly seek it. Therefore, many believe that the road to prosperity must traveled in a spiritual manner.

“Money is a medium for the exchange or transformation of energy.” Martinez says and adds, “It’s not the source of spiritual, creative power nor is it the ultimate goal.” She explains this by saying that most of the time people don’t really desire money, better yet, they wish to attain a lifestyle that they think only money can buy.

Just as magnets attract steel, so too can thoughts lure riches.

In the classic self-improvement manual Think and Grow Rich, Napoleon Hill wrote: “…the subconscious mind will translate into its physical equivalent a thought impulse or a negative or destructive nature just as readily as it will act upon thought impulses of a positive constructive nature.”

Essentially, what dynamic thinkers realize is that every individual has the ability to control the distribution of wealth from within. To explain this in a non-spiritual way one must only study the laws of physics: For every action there is an equal and opposite reaction. This vital law of gravity also applies to mental thoughts.

Just as the Bible states that one reaps what they sow (Galatians 6:7), a person can cultivate riches with positive thoughts and actions. The following are spiritual methods a person can use to increase their income and have a more abundant life. Use one or all of these techniques to attract prosperity.

Prayer

Want to finally pay that credit card debt off or replace that old clunker with a brand new car? There is a simple yet effective way to make financial goals materialize: Just ask! It is not selfish or wrong to ask God for monetary blessings, if the money will be used for a good purpose. “Abundance is the natural state of the universe,” Martinez says and adds, “It is not wealth that is ungodly, it is selfishness.”

Visualization

Imagination is the key to success. If one can imagine themselves being successful, they are already on their way to the top. Martinez advises people not to worry so much about attracting money, it’s more important to focus on creating what one hopes to experience by having money. Martinez says visualizing is important “because it helps you establish clearly in your mind the reality you are trying to create.”

Positive Action ( Act As If )

Don’t wait to be a millionaire to give to a favorite charity, do it now! Positive action or acting as if is a very important process in realizing one’s financial goals. By acting as if one has already received their wishes, one is demonstrating faith. “If you act it out, even the smallest part of it, you embody it,” Martinez reveals, “If you embody it, you can manifest it.” So next time bills are delivered, don’t wait till the last minute to pay them. Write checks happily and confidently, know that money is in abundance.

Affirmation

Inspirational author Shakti Gawain writes that affirmations are one of the most important elements of creating the reality one desires. Most people aren’t aware of the words and ideas that run through their minds, but Gawain writes that those stream of thoughts are “the basis for which we form our experience of reality.” By affirming we “make firm” what we say. It is therefore vital to declare positive words about the existence we wish to create. Concentrate on one affirmation daily and repeat it often.

Examples:

I am being blessed with prosperity now.”
“God provides me with everything I need.”
“I am growing more financially prosperous daily.”
“The universe is abundant, and I shall have what I need and desire.”