Realty411 Magazine Feautring Memphis Invest | Page 36

Top 20 Excuses for
by Bill J. Gatten, NARSCor, LLC
E
xamine a few selections from the
Top-Ten List of the Best Excuses
for Failing, and see if any apply to
you (…and remember: “He who hesitates
almost always wishes he hadn’t,” and “ex-
cuses and reasons are virtually indistin-
guishable, and good reasons for failure.)
In my business of teaching Creative Real
Estate buying, selling, investing and man-
aging I am always astonished at the num-
ber of people who subscribe to my training
and mentoring programs and consider it the
finest financial choice they ever made…
then never do a single transaction.
I’m told that the industry average is
something like 5%. In other words, of the
people who buy books and courses and
attend the seminars, 95% never do any-
thing with the education they paid for and
receive. When I discovered this I was ap-
palled, but in checking our own records I
found that we were slightly ahead of most,
but not by much…about 7% versus 5%.
A dear friend, now deceased, A.D. Kes-
sler, upon discovering this ratio of success
versus failure decided to do something
about it by putting a $100 cashier’s check
in each of his materials packages and
counting the number of checks that actu-
ally came back cashed. He came up with
the same percent, 5%. In order to better
this mark he began offering ongoing train-
ing, personal coaching, and newsletters,
annual re-treat meetings and so on. His re-
sult? He increased his success rate to about
8% - 9%. By following his lead, we are
able to get about the same results (7% - 8%
at last count).
Folks, this is terrible and wholly unac-
ceptable! After reading this article I’d
like to have ANYONE tell me why any-
one with half a brain doing no more than
reading this article couldn’t make a ton of
money in a short time. I’m prepared to
see our numbers remain stable if I have to,
but I will still scream to the heavens that
I don’t know why this has to be the case.
What’s so difficult here? ‘Find an unwant-
ed property…find an unwanted buyer who
wants the property, take it off the owner’s
hands…then squeeze them together until
the money squirts out. That’s it! It’s merely
Realty411Guide.com

FAILURE
a matter of knowing
how to do that and
breaking some men-
tal molds.
THE LIST
1.“I do everything my mentor and the gurus
tell me to, but appreciation’s so good in my
area that sellers don’t want to make deals”
2“I do everything the gurus tell me to, but
prospective buyers are broke and equity is
non-existent”
3.“I keep on trying, but the financial con-
dition of the country, and especially in MY
area, is just too tough to be able to make
any money”
4.“I keep plugging away, but there’s a rental
shortage here and sellers are unwilling to
make deals because they can rent a house
out in a minute for more than normal rent”
5.“I want to buy and hold, but rentals
abound here, and the competition and the
economy, eliminates any chance for break-
even rents”
6. “I do everything I can, but rentals in my
area are scarce and rents are high, so nobody
wants to let their properties go”
7. “I tried, but found too much competition
out there”
8. “The course says don’t deal with REAL-
TORS ® and to go after the fixer-flips; but
FSBO fixer-upper prospects with any equity
at all are just nowhere to be found”
9. “I’ve called a few prospects, but REAL-
TORS ® in my area don’t want to work with
Creative Finance types like me”
10. “I’ve bought a bunch of No-Money
Down courses, and the techniques taught all
sound good at first, but just don’t work for
me”
11. “I try to talk to potential sellers by the
dozens, but they figure me out right away
and are not interested in “creative financ-
ing”
12.“One has to have money and decent
credit in order to make money and I don’t
have either”
13. “Every time I find what I think might be
a deal, I find out that the property is over-en-
cumbered and fraught with back payments
and unpaid taxes”
14. “People who sell books and courses
make their money from selling books and
PAGE 36 • 2011

courses and don’t do what they teach, and
have no contact with reality”
15. “When I see how many foreclosures
are happening and how many investors are
losing money, I can’t bring myself to jump
into what is obviously a losing business”
16. “Every guru I get involved with who
has made a ton of money on creative fi-
nancing made it a long time ago and is now
either broke or almost broke”
17. “I just don’t have enough hours in a
day, working my own job plus trying to be
a real estate investor”
18. “I joined a real estate investment club
and find that 75% of the people there have
never bought a stick of property and the
25% who have are people with money and
good credit”
19. “I want to be wealthy, but can’t bring
myself to change my job or my lifestyle
and take those kind of chances”
20. “I bought three properties two years
and followed all the rules, but as soon as I
got them the bottom fell out of the market
and I lost them along with my life’s savings
and all my good credit and am now close to
being sued by the lenders for my deficien-
cies and back payments”
Free Houses. Now let’s go back and count
the number of these excuses that apply to
you (if any) and how many of those are
actually based upon insurmountable ob-
stacles, and how many are no more than
excuses for not doing what needs to be
done..
Then let’s see how many of those excus-
es become foundationless when one adopts
the use of the © Title Holding Land Trust
Transfer via the NARSCor PACTrust™ or
NEHTrust™.
This is to say the property is placed into
a specialized inter vivos trust by the seller
with payments being taken over by you
as the seller’s co-beneficiary, whereupon
you appoint a third-party as a resident co-
beneficiary who lives in the property, cov-
ering all mortgage payments, property tax

reWEALTHmag.com