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How To Borrow Your Way To Real Estate Riches

All right. I’ve seen the one. Where did it go? We got How to Borrow a Way to Real Estate… Yeah, there it was. There you go. How to Borrow Your Way to Real Estate Riches, by Tyler G. Hicks. Let’s see what year this was. Well, 1979. Look at this, this is your first… Man, I can’t even think about how to do it. This is your first kind of like guru from back in the day. Let’s see. Wait a minute. There’s no way, dude. 1921? Are you kidding me? This is… Yes, you see? 1987. Where do you get the 19… Oh, that’s probably when he was born. Anyway. Look at this. It tells you, you can pick your income level. “You can make $1,000 a year, it’s 500.” You get to pick your level you want, using the methods he gives you in the book. So, we can do houses, apartments, blah, blah, blah, blah, blah.

He’s basically telling you… He’s in it, so you can get to $1 million back in ’87. Wow. Look at this list. He basically goes through all this. Okay. Where is the table of contents? Wow. That’s a whole bunch. “How Borrowed Money Can Make You Rich in Real Estate, Earn Real Estate Millions Using Other People’s Money, Put Zero-Cash Success Methods to Work for You. Mortgage Out to Build a Real Estate, Sure Steps For Getting Real Estate, Make Your Borrowed-Money Automatic Fortune Fast.” Let’s look at what he’s talking about. Let’s look at this, 57, put zero money. Zero money, man. Let’s see it. See what he’s talking about.

“Put Zero-Cash Real Estate Success Methods To Work for Yourself.” Okay. “Although every one of the thousands of BWBs have met needs…” What is a BWB? I wonder. “The kind of help these folks need… Five page… Word, money.” Okay this is mostly just… “Probably the most direct way to get started on zero cash is to borrow the money you need to buy a piece of income property. You can borrow the money in a number of ways. Signature loan, collateral loan, on purchase mortgage loan, on a loan…” Blah, blah, blah, blah. “Use a Signature Loan to Start.” Okay. “A signature loan is a loan that you get based on signing a note in what you promise to repay the lender. You do not put up any collateral to get a signature loan. The usual loan is based on…” Okay, whatever. “You can borrow as much as 20, other States a maximum of 10,000. Then there are mail-order lenders who will lend you as much as $25,000. You can get a free list of mail-order lenders from editors…” Okay. I wonder, we’ll have to check and see if they’re still there.

Wow. That would be completely crazy, if these people were still in business. I don’t know, obviously they got, probably, an internet website now. “Improve Your Signature-Loan.” You guys are basically just telling me… Okay, “Typical loan scoring system. More than 10 years, 25 points weekly income.” Wow. That’s really low, this is really old. “Credit rating, property ownership, owns a little cash value in property.” I’ll hold it right here so you can read. Okay, “Raise Money Faster. I want to thank you for book How to Borrow Your Way to a Great Fortune. The concept of offering a finder’s fee, including… I raised 50,000 for a corporate loan by offering a potential investor a finder’s fee that included a cosigner’s fee. Just as you suggested, the potential investor became intrigued with finding the money and ended up being the cosigner as well as the finder.”

Okay, look at that. What is that right here? “Other data for about 20 mail order limit.” Wow. And 800 numbers? Wow. Okay. He has a lot of different ways. This is going to be interesting. Here you go. Put it as simple as advertising and looking out for a loan, or a cosigner, so I’m going to go with you. “Get Credit-Card Loans, Make Rent Arrears Work for You.” What is that? “When we took our second income-producing building, there was a rent arrears account of 11,000. We had a clause inserted in the purchase contract that state that any rent arrears we could collect would belong to us, instead of the seller. As soon as we took over the building I started working on collecting back rents. Just four weeks I collected $5,500. So our down payment of $7,500 was reduced to $2000. Since most buildings have rent arrears of some amount when they are sold, this amount is very useful for reducing…”

Look, that was… I didn’t even know what the word meant. But, look at it like that, that’s another way to make money, right? That’s going to be an interesting one for everybody. I’m pretty sure I’m going to get a lot of people are interested in real estate, everybody loves real estate. All right, I’m hungry. I going to get something to eat. Talk to you all later on.