Monday, October 29, 2012
Friday, September 14, 2012
Saturday, September 1, 2012
Monday, August 20, 2012
It's HARD to Make a Living. But it's EASY to Build Wealth.
It's
HARD to Make a Living. But it's EASY to Build Wealth.
In Los Angeles the commute is unbearable. In fact, INRIX®,
a leading international provider of traffic information, reports that the City
of Angels is in second place for the worst congested city in the nation.
Many
Angelenos drive three hours per day just to be able to work. I thought that was
bad until I discovered people who commute into the city every week and only see
their families on weekends.
The sacrifices made by individuals just to make a basic living
(food, clothing, shelter) for themselves and their loved ones is mind boggling.
I know what it's like to drive hours every day to punch a clock, it's tough!
Even if you love your profession, commuting for hours, putting up with office
politics and trying to please demanding bosses, can be overwhelming and very
stressful.
Plus, with an economy like this, wages and salaries are just
not very generous. Companies seem to be using the "bad economy" as an
excuse for poor pay, lack of benefits and company perks. It seems everyone is
complaining about the limiting amount of career opportunities that are
available.
When I was in college, I was not taught about finances at
all, in fact nobody ever discussed salaries. When I discovered how much journalists
make, I was shocked (and greatly disappointed). Let's just say it's a career
that you definitely have to be passionate about it because the pay is modest.
Having loved media since I was a child, I decided to enter the trade and watch
my pennies so that I could invest as much money as possible in something that I
knew was a sure thing: real estate.
You see, because I educated myself on the mechanics of
money, I knew that most millionaires made their money in real estate. I understood
vital concepts about the time/value of money and how location and appreciation
could easily skyrocket a person's net worth.
But the hardest part I thought was getting started. So my husband and I worked hard to accumulate
the funds needed to invest. They were busy years and we were handsomely and
surprisingly rewarded when we managed to buy a home with no money down in one
of the most high-priced areas of the nation. How? We found a seller willing to
carry a portion of the note and used private money to get into the deal.
Since we didn't need any of our own money to buy our
home, we used our nest egg to purchase a small apartment building. It was then
when everything began to change.
With a few short years, our net worth skyrocketed. Things
were appreciating steadily back in 1994 and the equity in the properties were
rising much faster than our ability to earn a paycheck by working in our professions.
This is the beauty of real estate. A property can appreciate
either due to market conditions or by adding value through a rehab. Profits can
come quickly, much faster than a person's ability to "earn" a
living.
The average national salary in America is $41,673.83,
according to U.S. Social Security administration. Having a job can provide for the basics just
fine, but what quality of life can that type of salary provide?
In the real estate world, $40,000 is not an astronomical
number. One can do a deal and make that much per transaction either by buying
and holding for cash flow or buying and flipping for profit. I even personally know
someone who made $30,000 on one wholesale deal, and she did not even own title
to the property!
Most of the deals my family and I have done over the
years have grossed us over $100,000 per transaction -- we are lucky to live and
be able to do deals in California where the spreads can be great.
One of my
favorite deals was when my husband and I purchased a small multifamily property
in Hawthorne, Calif., a blue-collar area of Los Angeles.
The market was really hot in late 2004, and it was tough
getting the deal because there were five other offers, but I wrote a personal
letter to the seller assuring him that I would make the best landlord to take
over his building and he sold it to us, even though another offer came in
higher.
Upon purchasing the property, we did slight renovations,
one unit at a time. Nothing major, just new carpet, new paint and I think we
changed the cabinets in the kitchen of one unit. The hardest part was managing
the property because some of the tenants had an attitude because I raised all
the rents to market.
About one year and half into the deal, we decided to cash
out. We purchased it for $425,000 and in 18 months sold it for $659,000. A
gross profit of $234,000! How many
people can make that amount of money punching a clock for 18 months?
And what do they have to go through to "earn"
that money? Get up at the crack of dawn, commute to work, put up with bad
tempers and attitudes, constant deadlines and round-the-clock job stress.
On the other hand, we created wealth by simply buying,
managing, repairing and selling an asset. Can it get any easier than that?
This is exactly why I get so excited about sharing the
benefits of real estate with people because wealth can be created much faster
and easier than by "working" at a given profession.
Even in Corporate America, I noticed that those who invest
in real estate do much better financially than those who only go to work and do
the best they can to save for the future.
After being in the work force for 20 plus years now I've
come to realize that more wealth can be created by focusing time and energy
into finding and buying properties than by climbing the corporate ladder. Buying
one property a year or every few years can really make a difference in your
life and in the legacy you leave behind.
 |
| Linda Pliagas, investor |
The time has never been better to get started or to expand
your portfolio. Never have we had a combination of so many distressed properties
to choose from coupled with the low interest rates of long-term financing.
The moves you make now can determine your family's
future. So don't make excuses about how
busy you are in your profession. Be sure to take time off from "work"
to concentrate on building "wealth".
by Linda Pliagas, founder
Wednesday, June 27, 2012
Realty411 National Real Estate Tour
Realty411 National Real Estate Tour
The California-based Investment Magazine is Hosting Free Investor Events Across the Country to Meet Online
Fans
The
public is invited to complimentary real estate expos and wealth-building conferences
designed for investors, REALTORS and entrepreneurs. The events are sponsored by
Realty411, a California-based
investment resource magazine. (http://www.Realty411Guide.com)
The
expos will take place in four cities: Santa
Barbara, CA (July 14), Emeryville,
CA (July 28), Seattle, WA
(August 11) and Kansas City, MO
(August 25 & 26). A variety of nationally recognized speakers will educate on
many aspects of real estate including: foreclosures, wholesaling, long-distance
investing, fix 'n' flips, plus creative techniques.
Guests
from around the country are scheduled to attend these free events. Investors
and companies from throughout California have attended past expos. The events
have also lured guests and sponsors from Arizona, Nevada, Missouri, Tennessee,
Mississippi, Oregon, Alabama, Ohio, Indianapolis, Texas, Florida, Washington, New
York, and Massachusetts.
Realty411 is available at
Whole Foods Markets, Rite Aid and CVS stores as well as real estate clubs, and
racks in wealthy, high-traffic areas. Complimentary copies are also mailed to investors who
request a free initial copy and industry leaders. Paid subscriptions are available
at an affordable rate and mailed first class to our First Class members.
Digital
editions are viral, and can be found on nearly 15 websites and 20 social media
platforms.
Currently
Realty411's social media connections stand at nearly 30,000 global members. For
example, on Scribd.com, the publication has gotten over 16,000 audited views
around the world and has 1,032 followers*
EXPO LOCATIONS / DATES /
WEBSITE INFO
Santa Barbara (July
14th) - http://SantaBarbaraExpo.eventbrite.com
Emeryville (July 28th) - http://EmeryvilleCashFlow.eventbrite.com
Seattle (August
11) - http://SeattleRealEstateSummit.eventbrite.com
Kansas City, MO
(August 25 & 26) - EXPO & TOUR
FOR THIS EVENT
Mid-West Expo - http://Mid-WestRealEstateExpo.eventbrite.com
KC Property Tour
- http://KansasCityTour.eventbrite.com
(small fee to attend tour)
THESE EXPOS ARE COMPLIMENTARY - RESERVATIONS ARE REQUIRED
For
information visit: www.Realty411Guide.com/events or 310.499.9545
* view results here: http://www.scribd.com/lpliagas
*
Thursday, June 21, 2012
Sunday, March 25, 2012
6 Tips for Financial Freedom - Not Easy but It Works!
By Linda Pliagas, editor & publisher of Realty411/reWealth and Cashflow Express
Everyone yearns for abundance and financial security, it is a human desire we all share. It is a motivation ingrained in us as part of our survival mechanism.
While we all have this in common, only a limited few ever actually reach true financial security.
The statistics can be depressing. According to the Retirement Confidence Survey (2006), 53% of Americans have less than $25,000 in retirement savings. Plus, 30% mistakenly believe that they will only need $250,000 or less in total retirement savings.
One of the problems in our society is a lack of discipline in regards to saving. In fact, a recent study by Harris Interactive found that 57% of households do not even have a budget (2009 Financial Literacy Study).
In my 20 year plus career in journalism, I have interviewed many successful and wealthy people, from celebrities to company CEOs. Undoubtedly, a perk to this profession was being able to unlock their secrets.
I’ve compiled a list of important guidelines, which were followed by many of those who transformed their mediocre life and average paychecks into extraordinary wealth.
These steps are not easy to follow, but they will get you started on a disciplined path and lead you toward creating a wealth-conscious mindset.
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
Everyone yearns for abundance and financial security, it is a human desire we all share. It is a motivation ingrained in us as part of our survival mechanism.
While we all have this in common, only a limited few ever actually reach true financial security.
The statistics can be depressing. According to the Retirement Confidence Survey (2006), 53% of Americans have less than $25,000 in retirement savings. Plus, 30% mistakenly believe that they will only need $250,000 or less in total retirement savings.
One of the problems in our society is a lack of discipline in regards to saving. In fact, a recent study by Harris Interactive found that 57% of households do not even have a budget (2009 Financial Literacy Study).
In my 20 year plus career in journalism, I have interviewed many successful and wealthy people, from celebrities to company CEOs. Undoubtedly, a perk to this profession was being able to unlock their secrets.
I’ve compiled a list of important guidelines, which were followed by many of those who transformed their mediocre life and average paychecks into extraordinary wealth.
These steps are not easy to follow, but they will get you started on a disciplined path and lead you toward creating a wealth-conscious mindset.
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
Sunday, March 11, 2012
Sunday, February 26, 2012
use discount code: REALTY411 for this event
use discount code: REALTY411 for this event: use discount code: REALTY411 for this event
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