Are You an Underwater Homeowner...Continued

Hi Folks,

I have been doing a series for UNDERWATER HOMEOWNERS. Whether you are an underwater homeowner or an investor helping one...keep reading.

Did you know that Henry Ford went bankrupt seven times? Think about it – he started a company and went bankrupt; started another company and went bankrupt; started another company and went bankrupt again; started yet another company and went bankrupt again; now it’s getting hard to read – he started another company and went bankrupt yet another time; with all the naysayers in his life he started another company and went bankrupt again; still not defeated, he started another company and went bankrupt again; then he started Ford Motor Company – who you may be making payments to right now.


If you are an investor losing your investment properties – it’s okay, too. Our advice for the future is not to buy any rentals unless you can afford to make the mortgage payments – in addition to your bills - for five months on all your rentals. For example – say you own five rental properties and the mortgage payment is $500 on each. This means your monthly commitment is $2,500 a month. Unless you can afford to pay $2,500 for five months, in addition to all your regular bills, do not become a landlord. We realize that this seems extreme because t is unlikely that all five of your rental would be vacant at the same time; however, it does happen. The great news is that in this book we are going to cover some great ways to turn your rentals into cash flow machines again.


If you look at the average life span, we live to be 75 or so. If you are in financial hardship and it takes you three years to recover, in the big picture, it’s not that much time. When you recover and start over, you’ll have many more good years than bad.

People tend to live above their means in this country. We have both traveled extensively around the world and we are the most spoiled country. Personally, we like living a spoiled lifestyle, but we didn’t come by it easy. We have both had financial problems in the past, been divorced, suffered foreclosures, and barely gotten by. Through a lot of hard work, cutting back, and many blessings from God, we were able to make it to the top percentage in the entire country.

Stay tuned for this continued series...

May God Bless You,

Dwan
www.theieu.com