Image of money growing from a tree

How in the world do some people get rich so fast?! Literally, people have gone from dirt poor to ultra rich in a matter of months! Aside from winning the lottery or inheriting a fortune from family, what allows a person to make this dramatic change? Well, I can’t speak from experience, but I do see one thing that is common in almost every case. A great business. (Continue)

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Image of houses sitting on a stack of one hundred dollar bills

Many of you have probably seen those late night infomercials on getting rich with real estate. You don’t have to admit that they are intriguing, however, for many people they are captivating. I have watched them intently in the past, too! These real estate infomercials say that anyone can do it! Anyone, regardless of bad credit, no money, no job, no friends, etc. The question is, “Are these statements factual or full of bologna?” Let’s take a closer look! (Continue)

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Image of houses sitting on a stack of one hundred dollar bills

Now is the time to start picking up rental properties! There are plenty of great deals out there with all the new foreclosures popping up each week. The following is a simple guide for getting your first rental property. Simple does not mean easy. What it does mean though is that it doesn’t take a rocket scientist to do this and do it well. I have met so many people, just like us, that have been very successful with real estate. So why not you and me? Let’s get started! (Continue)

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Who Wants To Retire Early?

by James on 03/15/2010

Image of early retirement

Everyone would like to retire at some point in their life and not have to adjust their lifestyle too drastically. And, for most people that means consistently putting away at least 10% of their earned income into retirement accounts their entire working career, while paying off their mortgage in hopes that they have enough money to retire at age 65. The question is, “Wouldn’t you like to retire earlier if you had enough money?” How much money would you need to have in order to retire at age 50… or how about age 40? (Continue)

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Image of iStockPhoto.com

Reaching our goal of 10K in passive income seems like a substantial amount to most people, including myself! In order to reach this high goal, we will need to get many passive streams of income. Not just one. We selected real estate as one source and our next is stock photography and graphics. This is actually my wife’s area of expertise. As we have discovered from the book, The Millionaire Maker by Loral Langemeier, getting wealthy is a team sport. (Continue)

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Image of The Millionaire Maker book cover

Just finished up reading a book called The Millionaire Maker: Act, Think, and Make Money the Way the Wealthy Do by Loral Langemeier. I thoroughly enjoyed this read. I will start by saying that my wife has been an avid listener of Loral Langemeier’s radio show over the past year. She met Loral at her book release party for her new book, Put More Cash in Your Pocket: Turn What You Know into Dough, hosted by Biz Radio here in Houston, Texas. My wife got a free autographed copy of her last book, The Millionaire Maker! Needless to say, I stole the book from my wife and read it before she had a chance. Here is a brief summary of her book. (Continue)

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Image of highway sign with an exit to financial freedom

Almost every one of us has a salary. If you do, then congratulations because this really is an important step. Next is to live within your means. Most people tend to raise their standard of living each time they receive a pay raise. It is so easy to do. I am guilty of it. The key is to refrain from using up your entire paycheck each month on expenses. What we do with this extra cash each month is the key to achieving our dream. Invest it wisely. So, what do most people normally do with it and what should we do with extra cash to achieve financial freedom? (Continue)

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Image of my first rental property

As I promised, here is the video walk-through of our first rental property before any rehab has been started. I will be adding the after repair video within the next couple weeks. It will be wonderful to see the dramatic change from an ugly duckling to a decent duckling once the repair work is complete. Our goal is to make this Houston area property clean and functional… a nice place for a family to live. (Continue)

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Image of a house with a for rent sign

As you know, I listed real estate as one of the passive income sources for achieving financial freedom. Real estate has been a sign of power for a thousands of years! But, what makes it so special for earning money today? Real estate is a limited resource. There is only a certain amount of it and if you purchase it for below market value and find a reliable tenant to pay the mortgage, it can almost certainly help you become wealthy. Let’s talk about what makes real estate such a unique investment! (Continue)

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Image of a street sign post with various directions

Remember the importance of educating yourself prior to pursuing whatever passive income source that interests you. The last thing you, I or anyone needs is to make a major mistake which could cost lots of hard earned dollars. Educate thyself. Last time we spoke about how reading, asking questions and listening could increase your knowledge, confidence level and chance of success. What else can you do increase your odds of success? (Continue)

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