Aloha again!
I figured that the football season is coming to an end and its looking more like a Pats and 9ers Super Bowl! Im not gonna stop working Im just going to slow it down to wrap up the football season. I will still be researching though.
Here's to being Young Rich & Free in 2012!
Kona
Monday, January 16, 2012
Thursday, January 12, 2012
First experience
Aloha again!
I know its been a few days but I needed to gather my thoughts for this blog so I will try and keep it a short "novel"
This past Sunday January, 8th I had my first door knocking experience. There are certain steps to take when you are preparing to door knock. You want to find out the basic information about the property, you don't want to do intensive research. Now why do I say don't do extensive research? You don't want to put in hours of research and figure out all the numbers and finally when your door knocking they are not interested in selling. Then you have waisted hours of your time and don't have anything to show for it. When you could have put that time and energy in other property research.
Thats exactly what happened with this property in Pearl City, I had done my research about the property and who the owner was, found out they she was elderly and looked into assisted living homes for her. Total research time 4-8 hours over the course of a week. Now I didn't invest a whole lot of time into researching this property, I did enough to get the information I needed to go door knocking properly.
The thing about door knocking is its not an appointment, you might go and the person might not be there. Fortunately for us when we pulled up to the house there was a car in the driveway. A sigh of relief to see someone home, we were hoping we didn't make the trip for nothing.
Here are some pictures of the property.
Thats exactly what happened with this property in Pearl City, I had done my research about the property and who the owner was, found out they she was elderly and looked into assisted living homes for her. Total research time 4-8 hours over the course of a week. Now I didn't invest a whole lot of time into researching this property, I did enough to get the information I needed to go door knocking properly.
The thing about door knocking is its not an appointment, you might go and the person might not be there. Fortunately for us when we pulled up to the house there was a car in the driveway. A sigh of relief to see someone home, we were hoping we didn't make the trip for nothing.
Here are some pictures of the property.
The owner was widowed with 3 sons. Now 2 of the 3 sons did not want to sell, so we didn't want to get in between a family situation. Overall it was a good experience.
The next place is a house in Kaneohe, if you find a run down house or vacant land feel free to contact me!
Heres to being Young Rich & Free in 2012!
Kona
Sunday, January 8, 2012
BIO - Pt. 3
Aloha,
Welcome to Part 3 of 3
So I turned to real estate as a means to get out of my full time job. Now I know I most likely would not be able to do this with one real estate deal but rather a few. Now I am on a mission to invest in a few properties this year, hopefully I would have a few by the summer. If you follow you will find out!
Now I started my investment journey in April 2010. This will NEVER stop, I will do this until I need no means of doing it anymore and my money grows on its own. I have an "agenda" to what I am doing.
First it starts with building a solid real estate portfolio via:
-Obtain real estate properties
-As a buy and hold (rental unit)
-Flip property (30/60/90 day term)
-Rehab property (fixer upper)
Second simultaneously build a PROPER stock portfolio with funds from my real estate investments and have it diversified among the some of the following:
-Build a strong and diversified stock portfolio
-Stocks
-Options
-Bonds
-ETFs
-Mutual funds
Lastly I would want to own a business, now having my business might come before my stock portfolio. But having an entity like a corporation or LLC that I started or a start up company that I can purchase.
-Start a business
-Purchase a start up business
Now I currently trade stocks, however when I say "proper" stock portfolio I mean one that I can trade hundreds of shares of a company and not worry about loosing it to the market. With my personal stocks I will keep separate for a side investment purpose.
So I hope this will shed some light on my intentions, goals and just what I am about as a person.
Here's to being Young Rich & Free in 2012!
Kona
BIO - Pt. 2 of 3
Aloha,
Welcome to Part 2 of 3
I want to shed some light on the reasons and motivations on why I want to be financially free.
Now everyone wants to become financially free in their lifetime but have not answered why? they want to be financially free. Personally its a DEEP and CEDED emotion that really drives my motivation.
I was born while my parents were still in high school, so I am a product of the public school system. My father left when I was very young, my mother wanted to "live" her life. So my mother made her mother my legal guardian. I think that she felt that after my father left she was still a "kid" herself and unsuitable to raise me on her own. Don't get me wrong I don't blame her for giving legal guardianship to my grandmother, in fact I'm HAPPY she did. Still to this day I can't get in contact with my father, I see my mother every now and then. She is doing great things over at K9 Kokua to help dogs in need.
Now everyone wants to become financially free in their lifetime but have not answered why? they want to be financially free. Personally its a DEEP and CEDED emotion that really drives my motivation.
I was born while my parents were still in high school, so I am a product of the public school system. My father left when I was very young, my mother wanted to "live" her life. So my mother made her mother my legal guardian. I think that she felt that after my father left she was still a "kid" herself and unsuitable to raise me on her own. Don't get me wrong I don't blame her for giving legal guardianship to my grandmother, in fact I'm HAPPY she did. Still to this day I can't get in contact with my father, I see my mother every now and then. She is doing great things over at K9 Kokua to help dogs in need.
So I was raised by my grandmother with a some help from my God parents. My grandmother sacrificed SO much for me, giving up her career in a manager position to raise me, she REALLY stepped up to the plate and showed out when no one else would. She no longer had free time or a life because I was her life now. Now I need to try and repay her, I know I can't however I will try my best. I want to spoil my grandmother with the luxury of TIME, EXPERIENCES and the MATERIAL things. The luxury of time to spend with her great grandchildren on Maui as well as family she can't see otherwise, the luxury of experiences and things she never tried before like traveling and last material things she could not afford or did not have time to use.
My grandmother is my DEEP and CEDED emotional reason and motivation to be Young Rich & Free!
Here's to being Young Rich & Free in 2012!
Kona
Friday, January 6, 2012
BIO - Pt. 1 of 3
Aloha,
This is Part 1 of 3
A very good friend of mine pointed out to me that my blogs don't talk about my objectives nor does it state where I am coming from, so this blog is to outline what I am about as an investor as well as what the intentions are for this blog.
So here's some background on why I do what I do. It all started when I read my first "Financial" book, Rich Dad, Poor Dad by Robert Kiyosaki. From that moment on, I needed to become financially educated and be financially free not only for me but for my Ohana! So I decided to begin by going to a few seminars about stock investing via Rich Dad Education. I learned how to create a stock portfolio and how to run analysis for the stock of a business I am interested in obtaining a position in. Now Rich Dad Education offered a coaching program, later realizing that I would not be able to keep up with the coaching.
I have read several of Robert Kiyosakis books but somehow I needed to expand my horizon and I knew that Robert was not the only one out there teaching and educating people finacially. So I started talking to financial advisors, CPAs and stock brokers to see what they do and any tips or insight they may have for me personally. I have also expanded my learning to Audiobook like the "Dummies" series of finical books, Warren Buffet, Donald Trump and Jim Cramer from Mad Money, The Street and stockpickr.com.
Now stocks are a good way to invest, but you need to know everything about a company you currently have or will be wanting a position in. You need to constantly be researching and keeping up to date with it, day in and day out. I simply don't have the TIME to do that, I would LOVE to but with a full time job I just don't have enough hours in a day.
Thats when I turned to real estate as a means to get out of my full time job and invest full time. Instead of working for someone else and making them rich I want to work for myself and be Young Rich & Free!
Here's to being Young Rich & Free in 2012!
Kona
This is Part 1 of 3
A very good friend of mine pointed out to me that my blogs don't talk about my objectives nor does it state where I am coming from, so this blog is to outline what I am about as an investor as well as what the intentions are for this blog.
So here's some background on why I do what I do. It all started when I read my first "Financial" book, Rich Dad, Poor Dad by Robert Kiyosaki. From that moment on, I needed to become financially educated and be financially free not only for me but for my Ohana! So I decided to begin by going to a few seminars about stock investing via Rich Dad Education. I learned how to create a stock portfolio and how to run analysis for the stock of a business I am interested in obtaining a position in. Now Rich Dad Education offered a coaching program, later realizing that I would not be able to keep up with the coaching.
I have read several of Robert Kiyosakis books but somehow I needed to expand my horizon and I knew that Robert was not the only one out there teaching and educating people finacially. So I started talking to financial advisors, CPAs and stock brokers to see what they do and any tips or insight they may have for me personally. I have also expanded my learning to Audiobook like the "Dummies" series of finical books, Warren Buffet, Donald Trump and Jim Cramer from Mad Money, The Street and stockpickr.com.
Now stocks are a good way to invest, but you need to know everything about a company you currently have or will be wanting a position in. You need to constantly be researching and keeping up to date with it, day in and day out. I simply don't have the TIME to do that, I would LOVE to but with a full time job I just don't have enough hours in a day.
Thats when I turned to real estate as a means to get out of my full time job and invest full time. Instead of working for someone else and making them rich I want to work for myself and be Young Rich & Free!
Here's to being Young Rich & Free in 2012!
Kona
Thursday, January 5, 2012
Proper planning
Aloha,
I want to take a minute and talk about properly planning out main talking points when approaching a property owner. I have talked about this topic in my last blog titled "Door knocking methods" however I would like to expand on one of the talking points, suitable living arrangements.
In this section I think it is important to come up with an idea of what you will do to help the owner get into a suitable lifestyle or living arrangement.
Now think about it for a second, your talking to them because you want to buy the property where they are living.
-What will they do after?
-Where will they go?
-How will you help them out?
These are very important things to spend a little time researching for them. If they are elderly you might want to look into assisted living situations. Now really do the research don't just get the address and contact information. Get a detailed breakdown of the cost of living, now assisted living places usually have everything inclusive so that means meals, activities, rent, transportation and almost anything else you can think of is included, maybe cable and internet are separate.
With that being said the more you care and show that you don't want to just take their home or property the more they are willing to talk to you. You need to realized that your probably not the first person to approach them as an investor, now those other investors obviously missed out on the house because the owner is still in it. Why do you think the investor(s) were not able to obtain the property? Probably because they just talked numbers with the owner and did not assist the owner in figuring out how to save the property or at least find them another living situation.
Keywords are compassion and assistance.
Here's to living Young Rich & Free!
Kona
I want to take a minute and talk about properly planning out main talking points when approaching a property owner. I have talked about this topic in my last blog titled "Door knocking methods" however I would like to expand on one of the talking points, suitable living arrangements.
In this section I think it is important to come up with an idea of what you will do to help the owner get into a suitable lifestyle or living arrangement.
Now think about it for a second, your talking to them because you want to buy the property where they are living.
-What will they do after?
-Where will they go?
-How will you help them out?
These are very important things to spend a little time researching for them. If they are elderly you might want to look into assisted living situations. Now really do the research don't just get the address and contact information. Get a detailed breakdown of the cost of living, now assisted living places usually have everything inclusive so that means meals, activities, rent, transportation and almost anything else you can think of is included, maybe cable and internet are separate.
With that being said the more you care and show that you don't want to just take their home or property the more they are willing to talk to you. You need to realized that your probably not the first person to approach them as an investor, now those other investors obviously missed out on the house because the owner is still in it. Why do you think the investor(s) were not able to obtain the property? Probably because they just talked numbers with the owner and did not assist the owner in figuring out how to save the property or at least find them another living situation.
Keywords are compassion and assistance.
Here's to living Young Rich & Free!
Kona
Tuesday, January 3, 2012
Door knocking methods
Aloha again!
What do you think the best approaching methods are? I personally think that when you door knock it should be on a personal level, get to know the person that your about to approach. Do a little research prior to door knocking so you have something to talk about rather than just approaching them with the intent to "take the house or property" off their hands. Have some compassion when going into EVERY deal. You need to approach the owner with the intent to help them even if that means you don't get the property.
I would help them with the following:
-Creating a 3-6 month plan to get them on track ( if there willing to share their financial information )
-Calling the banks or the loan holders and work out some sort of deal with the financial institutions
-Calling the credit bureau and financial institutions to see if they have a repayment plan
-How to get them into a more suitable living arrangement
Now you don't have to help them like I help them but showing compassion and being down to earth with them will roll over better than coming in with the intent to scoop up the property under their nose.
DO NOT HIDE YOUR INTENTIONS, be upfront with them and be upfront with what you will plan to do. "Hi my name is Kona and I am a real estate investor."
Here's to being Young Rich & Free in 2012!
Kona
What do you think the best approaching methods are? I personally think that when you door knock it should be on a personal level, get to know the person that your about to approach. Do a little research prior to door knocking so you have something to talk about rather than just approaching them with the intent to "take the house or property" off their hands. Have some compassion when going into EVERY deal. You need to approach the owner with the intent to help them even if that means you don't get the property.
I would help them with the following:
-Creating a 3-6 month plan to get them on track ( if there willing to share their financial information )
-Calling the banks or the loan holders and work out some sort of deal with the financial institutions
-Calling the credit bureau and financial institutions to see if they have a repayment plan
-How to get them into a more suitable living arrangement
Now you don't have to help them like I help them but showing compassion and being down to earth with them will roll over better than coming in with the intent to scoop up the property under their nose.
DO NOT HIDE YOUR INTENTIONS, be upfront with them and be upfront with what you will plan to do. "Hi my name is Kona and I am a real estate investor."
Here's to being Young Rich & Free in 2012!
Kona
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