Lou Brown is buying, holding, and selling property for over 40 years. He was also once a landlord that’s why he knows what he is talking about.
What he discovered was that being a “landlord”, for the lack of a better word, “sucks”. It is not the best thing to do. For him, this is his biggest mistake in the real estate business.
He loves residual income and rental property can provide it.
The question is, how to get to the other side of the table from landlord to tenant?
To answer that question, watch this video.
https://millionairejumpstart.com/
Discover how to start investing in real estate at Millionaire Jumpstart.
* Money Making Secret #1: Getting Motivated Sellers to Call You!
No more calling unmotivated sellers and getting rejected more times than a geek for the high school prom!
I’ll show you how for over 28 years, I’ve been able to get deals brought to me and motivated sellers hunting me down to give me their house.
* Money Making Secret #2: The Art of Structuring Deals!
I’ve been doing this for 40 years and I love to share how I get sellers to give me the house, a check, and even a jet ski or two.
* Money Making Secret #3: Negotiating Secrets Revealed!
I love to negotiate, just ask Matt, one of my hand-picked coaches. We recently went to an estate sale and he witnessed me structuring a deal to buy the house and contents right there on the spot.
* Money Making Secret #4: Trusts Simplified!
A little confused on this entire Trust thing? Why to do it? How to do “Subject-To” safely? I’m going to show you my new fundamentals of Trusts training that will simplify the concept of Trusts, so a 9-year-old child can understand it.
* Money Making Secret #5: Develop a Plan for Success in Real Estate.
The wealthiest man ever to walk the earth left clues for us on how he amassed his great wealth and kept it.
How to Help People While Helping Yourself – Become a Certified Affordable Housing Provider™
Create Your 10 Million Dollar Retirement Plan – specific formula revealed
Learn Hidden Profits Available in ANY Deal – worth thousand$
How to Take Over the Seller’s Loan with NO Money
How to Have the Seller PAY YOU to Buy Their Home – no kidding! Buying Without Bank Loans – over forty years and never one bank loan!!
Easy Ways to LEGALLY Raise Big Money for Your Deals
Renovations – Quick Ways to Safely Make Huge Cash Now
Money-Making Management Secrets from a 40 year veteran who manages over 150 now
Accelerating Your Cash Flow – Add built-in “Profit Centers” – extra hundred$ per month
Case Studies: Secrets of How They Were Found, Negotiated and Sold
How to Protect Your Deal from Someone Else Stealing it
Legally Pay ZERO Taxes on Your Real Estate Portfolio – simple structure worth thousands
Having Tenants Leave Your Property in Better Condition than When You Gave It to Them
Why Land and Personal Property Trusts are the Best Privacy and Asset Protection
Benefits of Trusts You Cannot Get With ANY Other Entity
The Due-on-Sale Clause – What it is and How to Avoid it Legally
And MUCH More
Attend this power-packed “one-of-a-kind” best of the best training on making money in real estate investing!
Call 1-800-578-8580
Listen to our Podcast:
MyPodcastWorld
https://streetsmart.mypodcastworld.com/10992/the-number-1-mistake-landlord-makes
Apple Podcast
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Hi! It’s Lou Brown. I’ve been buying, holding, and selling property now for over 40 years, I have been a landlord. I know what I’m talking about. I’ve learned a lot. I’m veteran of over a thousand section eight contracts, for example, and many, many more tenants that lived in properties, where I was the landlord. What I discovered is, land lording sucks. What I discovered is, that land lording is not the thing to do. And in fact, that’s the biggest mistake you could make in this business. Now, I love residual income and I absolutely adore that rental property can give that to me and a lot more in fact, but what I discovered is, how do I get on the other side of the table? In other words, there’s a landlord and there’s a tenant and the tenant and the landlord have adverse positions in the deal.
I like the idea of being on the same side of the table with the tenant. And in fact, we call them clients, why do we call them clients? Because they are not renting. They are on what we call, the Path to Home Ownership, where we help deserving families, regardless of credit or financial background. To end up with home ownership, we take them on a journey to help them have a different vision for their lives, help them with their dream, their vision, their goals, and be the one to help change that person. And in fact, their entire family. And in fact, even generations to come because of the fact that those folks, instead of renting, were looking for and accomplishing a better life. So in fact, I wrote a book called Never Pay Rent Again, the Path to Home Ownership that we give to our clients that are potentially buying homes and giving them the guidelines of what to do and how to do it.
Now, what does that do for us? You and me, right? Because we would have rented a property. So what is a landlord do? A landlord purchases a property. They have a certain cost of funds that they have to cover. And then they rent the property out, sometimes for a very thin differential. And that is supposed to be your profit, but one water heater, one roof, later, you’ve got a year or two years worth of income absorbed into that property. And you’re not on the plus side at all. Another way of looking at it, is our strategy of the Path to Home Ownership, where our folks that are moving in, are people that want to be there. They want to be part of the program. They want a better life than the one they’ve got. What does that do for you? They pay to be there.
So we get anywhere from 3.7% up to 10% on our rent to own program. And then, when people achieve the 10% level, they move into our in-house financing program. And once they have good enough credit and good enough down payment, they can what we call, pop the top and buy the property or buy a different property from us. And what does that do? That gives us money now, gives us income monthly, and it gives us money later when they purchase the property, we can see them coming. We can arrange to buy another property to replace that property. When we see them getting towards purchase of the property. In the meantime, you’ve got a better resident. They don’t have to pay rent. They want to pay the payment to you. We call it their monthly housing payment. Their monthly housing payment even has some incentives in there to help them move up the Path to Home Ownership.
There’s a lot of differential between my life as a landlord and my life as a Certified Affordable Housing Provider, because being able to make that shift, made all the difference in the world, not only in our income, but also our sanity. You’ve got someone that’s living in the home that has a different mindset than a traditional rent, traditional renter. That’s your house. You need to come fix it. Somebody that’s looking to own the home, that’s their house, and they’re looking to own it. So they will do some things in order to be a homeowner in training and learn what it takes to be able to own a home. There’s some differentials for them as well. Of course, there’s tax benefits. When they get to certain levels of the program, where now they can actually write off on their taxes, what they’re paying you in interest and property taxes.
So there’s many benefits to taking people down the Path to Home Ownership. Also, we’ve identified profit centers that you can provide to your clients. And these are services that your clients are paying for any way that you can provide. And as a result, you get paid for providing those services, such as utilities, such as their security monitoring, their internet, their cell phones, and so many more things. These are all residual income profit centers that you can add to your business. And that’s the reason, why I say being a landlord is not a good game, but being in the real estate business and providing housing is an awesome game. I look forward to seeing you soon. I have a website, www.CertifiedAffordableHousingProvider.com I’d love to reveal the program to you. Love to have you to one of my one day or three day discovery events, and really discover what we have to offer and how it is so different than what typical landlords do. I look forward to seeing you soon. Yeah, baby!
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