THE CORPORATION AND SETTING UP AN INVESTMENT FUND!

Hey There and Happy Humidity from the Land of the Arizona Monsoon;s & Ha-Boobs!

Setting up a Buyer's Fund, like the ones many of us are seeking to purchase our Assignment Properties is not Rocket Science. Someone once said to me when I lived in the Silicon Valley of California, that setting up a fund, "...is not for the faint of heart." RUBBISH! RUBBISH! RUBBISH!

It "IS" for those with a "Heart Full of Vision!" I will answer such a question as to "how to do this" if you send me a personal message. I'm not selling anything here, I'm just sharing for free... period. I have no stake in you doing so (except, well, if you do I'll have a new potential Buyer for my list, hahaha). What I'm looking to do is add to your possibilities of where you can go and where I can go. Sharing this kind of cleans out the cobwebs in my own mind, so I get to revisit this information. Sharing with you these possibilities I believe is in keeping with the dynamic energy and values that Dean offers to us every week. I haven't even done my first deal yet, so I feel like I'm just putting some good Karma out there.

Here's a Corporate Tip for you: When you have your LLC, Sub Chapter "S" or Regular "C" Corporation in place, and you've got decent accounting, and you also have a Sole Proprietorship in place, DO NOT CO-MINGLE. It's easy to think you'll keep things straight in the end, get and keep all the "stuff" straight and get your entries correct all the time and that you will simply "remember" what you are doing. Well, when you are busy doing this Real Estate business, and you've got some measure of success you can start to feel a little cocky about it. It happens in all business. Especially true if it's the first real money of five figures+ that has consistently passed through your "Stewardship." < DID YOU GET THAT WORD? That is the word for it. So establish & respect a Cash Flow Disapline!

I have recently attempted to do a co-wholesaling thing with two young Investors here in the Phoenix area: Non-DG Students. They are 21 & 22, been doing this for 18 impressive months. They now both own their own homes free & clear and own many homes which are Assignable outright, verses doing an Assignment contract with the original Sellers. Also, they have NO IDEA what an Assignment Contract was until I educated them, on two properties I wished to Assign from them! I'll stop here on further details and here is the point: The deal with them didn't happen. Even after signing Purchase Agreements with me, they failed to supply me with needed paperwork vital to the deal, therefore I never approached my Buyers (list) because I REFUSE to make an incomplete/poor presentation! They also ran into Partnership Problems between them during this period and have yet to resolve them! WHY? Lack of Fiscal Discipline was the primary reason!

AT ANY AGE it's easy to get heady with some success, especially your first success! YOU SHOULD feel good and proud about what you have accomplished to date, but maintaining fiscal discipline when you are starting out builds good habits with you down the line. And don't think for a minute that every successful man and woman on the Golf Course of Successful Real Estate Investing are fiscally disciplined! Most that are not have often have a long history of troubles of one sort or another, and are also the first to complain that everything is everybody else fault! I know, as a consultant in my past I often was brought in/hired to clean up their mess!

So keep it clean and disciplined. Listen to those professionals around you, that's why you are paying them. But also, continue with your business education, learn what money really is, besides the jingle in your pocket. And keep those Business Accounts straight.

Enjoy