Foreclosure Philippines » Trace Trajano

How to buy foreclosed properties blueprint

Jay — Thu, 12 Aug 2010 04:00:49 +0000

My mentor Trace Trajano interviewed me recently and the interview was all about how to buy foreclosed properties from banks, which are also often referred to as bank acquired assets, bank owned properties, ROPOA’s, ROPA’s, non-performing assets, etc. We basically covered buying foreclosed properties from banks:

Before the auction (pre-auction)
During auctions
After the auction (negotiated sale)

Near the last part of the interview, Trace even shared a brief overview of how some of his students were able to do a short sale on a property that was in pre-foreclosure, here in the Philippines.

Trace actually created the “blueprint” while he was interviewing me, everything was spontaneous, and he even recorded everything in a video. I’m glad that Trace is sharing the video to all real estate investors out there. If you are new to real estate investing and want to start with foreclosed properties, then this video is for you.

Here’s the video interview which contains the “blueprint”:

Since the video was quite short, I’m assuming a lot of you out there might have questions about the topics we discussed briefly. In case you do, just ask your questions by leaving a comment below.

By the way, Trace will be making a follow-up interview, but this time around, I will be joining other students of Trace, and we will be interviewed during a webinar, where a limited number of people can join in. Since this is a “live” webinar, attendees will get the chance to ask questions and be answered “live”.

The free webinar will be on Saturday, August 14, 2010, and starts at 8:00pm sharp, Philippine Time. If you want to join the webinar, register through the following link:

https://www2.gotomeeting.com/register/356236771

I was a bit late to post this (sorry about that) and Trace already invited everyone in his mailing list, so please register now to secure the few slots left.

Please make sure your computer has a microphone, we’ll talk to you soon!

To our success and financial freedom!

Jay Castillo

Real Estate Investor

Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Follow me in Twitter:http://twitter.com/jay_castillo
Find us in Facebook:Foreclosure Philippines facebook page

PS. Are you a new visitor? Click here NOW to start learning more about foreclosure investing in the Philippines

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Top 10 reasons to attend the Money Summit and Wealth Expo 2010

Jay — Fri, 11 Jun 2010 13:28:35 +0000

The Money Summit and Wealth Expo 2010 promises to be the biggest wealth building and income opportunities conference in the Philippines, featuring 4 proven ways to build wealth and generate passive income. The Money Summit and Wealth Expo will be held on July 2-3, 2010, 8:30AM to 5:30PM, at the Carlos P. Romulo Auditorium, RCBC Plaza, Makati City.

But why should one attend? Let me try to give you 10 reasons…

Top 10 reasons to attend the Money Summit and Wealth Expo 2010

(in no particular order)

money-summit-and-wealth-expo-2010

1. Property Forum founder Noli Alleje – Although Noli “El Subastajero” Alleje is more famous as a real estate auction expert, he himself is also a real estate investor. I am quite used to seeing Noli handle public auctions they conduct and I look forward to hearing him speak for the first time on how to make quick profits through foreclosures.

2. Trace Trajano and Eden Alemania-Dayrit – They will be talking about their real estate investing strategies – Trace is one of my mentors in real estate investing and he is based in the US. This means this will be one of those rare opportunities where we can see Trace live and we can interact with him directly. Eden is one of the Think Rich Pinoy Franchisees and also a fellow student of Trace. Although I often see Eden as she is a classmate of mine in a real estate class we are both attending right now, I know I will learn a thing or two each time she speaks.

3. Jomar Hilario – Jomar Hilario is dubbed as the Timothy Ferris (author of the book “The Four Hour Work Week”) of the Philippines who works only four hours per week and yet earns so much more than the monthly salary he used to get working for a big consulting company, and I want to be just like him. For those who don’t know, I created this blog last October 2008 right after I volunteered and helped facilitate one of his internet marketing workshops just over 1 year and 7 months ago. Jomar always has something new to teach and I look forward to learning more from him.

4. I shall sharpen my saw – I believe that the moment a person thinks he knows everything, that person will get left behind. That is the reason why I consistently try to improve myself by attending seminars like this. I look forward to learning a lot of new things which are practical and actionable. Some people might even say that that I am a seminar junkie and they are right. If it were not for my being a seminar junkie, I’d probably be stuck in the rat race up to now.

5. I am really interested with the Business Track – Along with my teammates in the RYP Realty Team, we want to turn real estate investing into a real estate business where we are the business owners. We want to set it up in such a way that it would be like a turnkey business. I believe that the business track will really help us with this and should also help other attendees as well.

6. This is neither a get rich quick scheme nor a scam – The Money Summit & Wealth Expo features 16 real life successful entrepreneurs, top investors, best-selling business authors, sales superstars, and money experts, who walk the talk. They are already rich and successful and have been money experts for a long time.They are not professional speakers who make money through seminars, they are real money experts, real investors, real entrepreneurs, and real millionaires. Need I say more?!

7. I want to rub elbows with like minded people – Those who will be attending will obviously include people who also want to be rich and financially free, those who are already rich and financially free, and everything in between. It is always nice to be with like minded individuals as we can network with one another, synergize, and help each other succeed.

8. This will help enhance the entrepreneur in me – I truly believe that attendees like me will not only be inspired to take the path to entrepreneurship, we will also know how to start, and enhance the entrepreneur within us. With so many successful entrepreneurs sharing their knowledge, it would be hard not to find at least one entrepreneurial path that fits us. I intend to find multiple paths to help provide multiple streams of passive income.

9. Get a lot of free, legally downloadable e-books and audiobooks – By registering through this link on or before June 12, 2010, you will be able to get a lot of legally downloadable e-books and audiobooks, at absolutely no additional cost. These tools will help address the seven most common obstacles to success, and a whole lot more.

10. If you attend and use our link, you will be helping us win Trace’s Apprentice challenge – Yes, we are on the last leg of Trace Trajano’s apprentice challenge, and once again, we need your help. I believe that if we win, everyone wins, as we are committed to share virtually everything we will learn to those who are willing and are also committed to learn real estate investing. Being Trace’s partners would really help speed up the learning process not just for us but for everyone else as well. I have said it before and I will say it again, if we win, no one gets left behind!

Full disclosure – Please read!

I would like to disclose that we will be earning 10% of the proceeds if you buy using our link, but we have decided to donate 50% of our net profit to Bo Sanchez’ Anawim and Grace To Be Born. Anawim is the home of 55 abandoned elderly plus a few orphans and physically and mentally handicapped persons. By signing up with us, you are helping us help the poorest of the poor. Grace to be born provides counseling and a halfway house for pregnant young women who are being forced to have an abortion.

With your registration to the Money Summit and Wealth Expo 2010, you are actually supporting a baby because we are donating part of the ticket proceeds to the Grace to be Born ministry of Bo Sanchez.

We are allocating the rest of our profit to those who may want to refer a friend, and earn 5% of the summit fee. That means if your friend avails of the VIP Pass, you get Php224.75. Refer 10 friends and earn Php2,247.50!

I hope to see you at the summit! Please forward to your friends and relatives. Thank you!

To our success and financial freedom!

Jay Castillo

Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Mobile phone (Call/SMS): +639178843882
Follow me in twitter:http://twitter.com/jay_castillo
Find us in Facebook:Foreclosure Philippines facebook page

PS. What are you waiting for? Learn from 16 successful entrepreneurs, investors, best-selling business authors, sales superstars, and money experts including Trace Trajano and Eden April Alemania-Dayrit. How? Attend the Money Summit and Wealth Expo 2010, the BIGGEST wealth building and income opportunities super conference and expo in the Philippines, on July 2-3, 2010 in RCBC Plaza, Makati City. I will be attending this and I hope to see you there!

PPS. Are you a new visitor? Click here NOW to start learning more about foreclosure investing in the Philippines

PPPS. Don’t be the last to know, subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Inbox getting full? Subscribe through my RSS Feed instead!

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A busy yuppie that wants to have more time and money

Jay — Wed, 02 Jun 2010 09:30:49 +0000

A guest post by Sha Nacino

For the past few weeks, I have been on a six-day work week. This set-up really drained my energy. Most importantly, it made it impossible for me to go home to our province, a 10-hour bus ride from Manila. I miss my family so much! How I wish I could go home and see my family as often as I want.

Last Saturday and Sunday, I had no work – a very rare chance! I wanted to go home to our province but I was already so tired, physically and emotionally. I just decided to have a laidback weekend where I could relax, sleep, eat, read, think, and write.

: Image by Sha_Nacino

As I was reflecting, I noticed that there are so many interesting activities outside the confines of the corporate world. There’s toastmasters, a public speaking club that will help you develop your communication and leadership skills. There’s swimming, which is a good way to beat the heat. There’s travelling. Photography. Badminton. Running. Jogging. Volunteer work. And many more! I engage in all these activities and more! You could just imagine how physically taxing that was. Not only that, some of these interests could be expensive too!

I couldn’t juggle everything!

I want to do everything! Yet, I don’t have all the time and money to pursue everything at the same time. I have to cut down on some of these activities. Guess where most of my time goes? Yes, to my work because I spend at least 11 hours a day 5 days a week in the office (inclusive of travel time). Does my work make me happy? Let’s just say that I love a lot of things about my employer – the culture, the people, the activities, its corporate social responsibility projects, its personality development programs, and interest clubs.

But if money were not an issue, I would definitely be somewhere else. Yet, I cannot resign just yet because my work is my bread and butter.

I need more time and money!

I want to have more time and more money at the same time. I want to have as much time as I want to spend with my family and loved ones. I want to have more time to do volunteer work. I want to have more money to help our less fortunate countrymen. And I also want to have more money so I can do the things I want to do.

If I work overtime, I could increase my money but this also means less time for my family and other important things in life. How could I have more of both time and money?

What my mentors taught me

My mindset was limited because I knew only of one way to earn money – that was through my job in the corporate world. If I wanted to have more money, I needed to work overtime. I need to work hard for money!

Then I met my mentor Robert Kiyosaki through his book “Rich Dad Poor Dad”. I was shocked when he said that I could earn as much as I want even without working! He termed this as passive income. He also advised me that instead of working for money, I could make money work for me.

Wow! I felt so liberated! If I could learn the art of earning passive income and of making money work for me, then I could have more time to spend with the persons that matter to me most and I could also have more money to use to help others.

When the student is ready, the mentor will come

Last August 2009, I attended the Think Rich Pinoy Seminar of Larry Gamboa, author of “Think Rich Pinoy”, “Grow Rich Pinoy”, and co-author of Trace Trajano in “Think Rich Quick”. This got me really interested in real estate investing.

I guess I was ready to learn more about real estate because a few months back, I met my real estate mentor Trace Trajano. Trace taught me and my team how to invest in real estate with little or no money down. Trace conducted his first ever Think Rich Quick seminar in March 27, 2010. After learning from Trace’s teachings, my team was able to sell a condominium unit in just six days! Trace is really a fantastic mentor!

Would you like to meet my mentor?

What if you’ll have a chance to meet my very own mentor Trace Trajano? Trace Trajano alone could teach you invaluable real estate techniques that could bring you riches beyond your imagination.

But wait! What if you’ll get a chance to meet not just Trace, but fifteen other successful individuals who could teach you 16 different ways of earning money? Would you grab that opportunity? Click here now if you want to learn more!

Dedicated to your success,

Sha Nacino
RYP Realty Team

Sha Nacino is a teammate of mine in the RYP Realty Team. She currently handles marketing.

—

Jay’s thoughts

In a nutshell, Sha just wants to be financially free, who doesn’t?! I totally understand where she is coming from as I used to be as busy as her, if not even busier. I am happy for Sha because she decided to take action and make concrete steps to be financially free, just like my other teammates in the RYP Realty Team. Click here to continue reading the stories of my other teammates.

To our success and financial freedom!

Jay Castillo

PS. Are you a new visitor? Click here NOW to start learning more about foreclosure investing in the Philippines

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The Apprentice Challenge – We need your help!

Jay — Mon, 19 Apr 2010 02:26:35 +0000

If you attended the recently held Think Rich Quick seminar last March 27, 2010, you already know that Trace Trajano has come up with an Apprentice Challenge. My teammates and I are currently competing in that challenge. For those who were not able to attend the seminar and who don’t know Trace yet, he is the best-selling author of “Think Rich Quick” and has a vision of creating 1 million Pinoy millionaires through real estate investing and financial literacy, which I truly believe is possible.

Why we joined the Apprentice Challenge

One of the reasons why we joined the challenge was because we also believe in Trace’s vision of having one million Pinoy millionaires by the year 2020, a vision that he shares with Larry Gamboa, best-selling author of “Think Rich Pinoy“. Don’t you want to be one of those millionaires?

One million Pinoy millionaires by 2020? You might think we guys are crazy!

But wait, I did the numbers and I found out that if I helped at least 4 people become millionaires through real estate investing in 2010, and each of these four also helped at least 4 other people after they become millionaires themselves, and so on and so forth, we would have 1,048,576 Pinoy millionaires by 2019! That’s one year ahead of schedule! We can even achieve this earlier if this was done as a team and if we continue to teach more people each year. Imagine that!

We also want to be mentored by Trace Trajano and his team. Why not learn from one of the best real estate mentors one can ever have, and a Filipino mentor at that?!

Last but not the least, even before the challenge, we already had plans to set up our own real estate company so we might as well start it now, with mentoring and guidance from Trace and the Think Rich Pinoy franchisees, and we also get to do it as a team.

What we’ll get if we win

If we win the Challenge, our team shall become Trace’s Philippine real estate company, and his business partners. Trace’s vision for the real estate company is to earn Php 1 million per month in revenue, through techniques like wholesaling, retailing, and rent-to-own where Trace is an expert. Sure, it won’t happen overnight, but who wouldn’t want a piece of that?!

If our team wins, we also get to help in mentoring the participants of the next Apprentice Challenge of Trace which is to be held right after the next Think Rich Quick Seminar, and that will happen barely six months from now (click here NOW if you want to reserve your seats).

As early as today, we are committed to impart our knowledge and virtually everything we will learn to those who are willing and are committed to learn real estate investing. Being Trace’s partners would really help speed up the learning process not just for us but for everyone else as well. In other words, if we had our way, no one gets left behind!

We will be more than happy to serve others by helping them learn the lessons we have learned, do what we were able to do, achieve what we were able to achieve, and so much more, just like what Trace often mentions where he actually looks forward to the day when his students and apprentices will become even better than him when it comes to real estate investing. Spoken like a true mentor!

But we cannot do this alone

Obviously, to be successful in real estate investing, aside from having an excellent team, you also need to build your network. I’m so thankful I am already part of such a team. The logic here is one person can only achieve a certain level of success in real estate investing, but this can grow exponentially with the right team.

However, even with an excellent team, we still need to build a network that would consist of partners, investors, buyers, sellers, brokers, agents, banks, contractors, appraisers, real estate lawyers, property managers, or just about everyone involved in the real estate industry.

What to expect if we win the Apprentice Challenge

A lot of you may be asking, “So you need our help, what’s in it for us?”. We will obviously learn so much from this challenge and one thing I can assure you all is that we will share as much as we can with just about everyone out there who is willing to learn from us and our mentors.

How do you know that we will do this? Well, I have been doing this ever since I started Foreclosure Philippines (formerly Foreclosed Real Estate Philippines). I believe we should all have an abundance mentality, where we believe that there is more than enough for everyone. I have been doing this for more than a year and I don’t intend to stop anytime soon. I’m really glad that my teammates also share the same belief. You can trust me on this!

We can also earn while we learn together. Why don’t we become partners even beyond the Apprentice Challenge?

Brokers, Realtors, and real estate agents that are such a big help in helping us get connected with sellers and find great deals can also help us sell or lease our properties to buyers and tenants, and possibly earn double commissions from us in the process.

We can partner with fellow real estate investors who either lack time or simply cannot do it yet due to physical constraints (like OFW’s or those with demanding full-time jobs) or maybe those who still lack some of the skills needed to go into active real estate investing. We can help them earn passive income by becoming investors for our deals, or we can do the legwork and take care of the nitty-gritty details either for them or WITH them if they really want to learn. These can include finding buyers and sellers, pre-qualifying them based on a set of criteria, analyzing deals, helping with the legal matters and taxes, assisting in working with banks, appraisers, contractors, or just about any challenge fellow investors may be facing right now or in the future.

Speaking of banks, we can easily help banks dispose their non-performing assets by either buying them or marketing them. We may even be able to help homeowners avoid the foreclosure of their homes which would really be a win-win situation for everyone.

We can also help those who need to sell their properties fast with the lessons we have learned about extreme marketing.

We can even help buyers find the properties they are looking for with the help of our growing network of partners.

In other words, if we win, we shall be in a better position to help others and our success will be everyone’s success!

How are we faring in the Apprentice Challenge?

I’m glad to report that our team is doing very well and is currently the front-runner of the Apprentice Challenge.

For those who are not part of the Challenge, the following are the first three Challenge rounds:

BONUS Round: Help the most number of OFW’s learn about financial literacy. We invited the most number of OFW’s and relatives to attend the OFW mini seminar and got first place.
FIRST CHALLENGE: The challenge was to sell a property in 3 weeks and we won first place because we were able to close the deal in a record-breaking 6 days! Nice!
SECOND CHALLENGE: Find a good deal for a buyer in 2 weeks and earn at least Php100K in profit – this Challenge is still ongoing and we are positive that our efforts will produce the closing sale we need early this week.

Three more challenges to go. More sleepless weeks, more brainstorming and strategic planning sessions, and implementation activities with the team.

Partnering with a Champion team

Do we get tired? Of course we do! Most of us have families, children and even full-time jobs (This excludes me. Remember, I just got out of the rat race recently! DJ is also excluded as he is living a life without a boss), and we need to cope with all of these every day while we are doing the challenge.

But we are willing to put our necks on the line for this worthwhile challenge because we believe in the principles behind everything that we do. The learning and the rewards are priceless. The experiences we get and the people we meet while doing the Apprentice Challenge are more than enough to give us the winning attitude. Even if we don’t emerge as the winning team of the Challenge, we will forever carry with us the heart of a Champion. And that’s the kind of team that is committed to partner with all of you. Nevertheless, we want to win this challenge!

Reality bites for me…

This also explains why I have been so busy these past few weeks and at times I seem to be too exhausted and lack sleep, especially since my family is in the process of moving to our newly rented condo. Don’t get me wrong, I am neither complaining nor am I making excuses. I just seek a little understanding and patience especially from my dear readers who have sent me inquiries through e-mail. I currently have more than a hundred that are left unanswered, but rest assured I am finding time to answer them one by one.

We need your help!

We need partners who can help us find buyers, sellers, and investors. If you know anyone who is either an investor or a home buyer looking for a property, please refer them to our Buy a property form to enter their property requirements. We just might have the property they are looking for. If not, we would be happy to find one for them.

If you are selling a property, please use our Sell a property form to enter details of the property you are selling. If it fits our needs, we just might buy it. If not, we can still help you find a buyer. Either way, you have nothing to lose and everything to gain.

Do you know anyone who wants to make 10-15% return on their money? We need your help in finding them. As I have mentioned briefly above, these may be investors who lack time or the skill to go into active real estate investing but still want to make their money work for them by becoming passive investors. Refer them through this Investors’ form.

We need all the help we can get! Here are my teammates with our mentor Trace Trajano. Each one of us would like to thank you all in advance.

The Rich Young Pinoys or RYP Realty Team, (From left to right) DJ, Earth, Sha, Trace’s Dad, Trace, Jay(that’s me!), Will, Joy, and Ebb

To our success and financial freedom!

Jay Castillo

Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Click here to contact me via E-mail
Mobile phone (Call/SMS): +639178843882
Follow me in twitter:http://twitter.com/jay_castillo
Become a Fan in Facebook:Foreclosure Philippines fan page

PS. Are you a new visitor? Click here NOW to start learning more about foreclosure investing in the Philippines and don’t forget to subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Inbox getting full? Subscribe through my RSS Feed instead!

PPS.Do you know anyone who is either an investor or a home buyer looking for a property? Please refer them to our Buy a property form to enter their property requirements. If you need to sell a property fast, please use our Sell a property form to enter details of the property you are selling. If it fits our needs, we just might buy it. Lastly, if know anyone who wants to make 10-15% return on their money, refer them through our Investors’ form. Thanks a million!

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First ever Think Rich Quick Seminar recap

Jay — Tue, 06 Apr 2010 02:40:40 +0000

I am featuring here a recap on the first ever Think Rich Quick Seminar by Trace Trajano which was held last March 27, 2010. I was supposed make my own post about the Think Rich Quick Seminar but DJ already created one so I might as well feature it here and just add some of my inputs. Read DJ’s article about the first ever Think Rich Quick Seminar after the jump.

1st Ever Think Rich Quick Seminar by Trace Trajano

By DJ Dimaliuat

Last Saturday, March 27, 2010, the 1st ever Think Rich Quick Seminar conducted by Multi-Millionaire Real Estate Mentor Trace Trajano finally pushed through. Trace Trajano, for those who still don’t know him, is the best-selling author of the book Think Rich Quick. In this book, he highlighted his experience in real estate investing where he shared that anyone can invest in real estate and earn even with no money down! Wow! That means anyone can be rich if you just learn what Trace is doing! As a quick background, Trace has made over half a billion pesos of real estate deals in the USA.

Everything Happens for a Reason

I first bumped into his book, Think Rich Quick, March of 2009 I was waiting for a client (who eventually didn’t showed up) at Greenbelt, Makati. I decided to wait at Powerbooks to browse something to read. Since I read Robert Kiyosaki’s best-selling book Rich Dad, Poor Dad, I already had an interest in real estate investing. At Powerbooks, I was searching for real estate investing books that are done in the Philippines setting or written by Filipino authors. I am thinking that it is the best way to learn how to do real estate investing here in the Philippines is to learn from those who have done it. I bumped upon a number of books, searched the table of contents, and the book that really caught my attention is Trace Trajano’s Think Rich Quick. I know I have a limited number of time during that day and I want to read a book that is very concise and at the same time contains specific examples from experiences. That’s exactly what I found with the Think Rich Quick book. From that moment on, I fell in love with the book. I told myself, I wanna meet Trace Trajano one day!

Fast forward to 2010

I learned about the Thinks Rich Quick seminar barely 2 weeks before the seminar date. Fortunately, participants are still welcome and are in the last week of accepting payments for the event. I even got excited when I learned that this would be the very 1st seminar he will conduct! I made contact with the organizers, I became a member of BFD, Trace Trajano’s online network at http://buyfirstdeal.com, read Jay Castillo’s blog at Foreclosure Philippines (http://foreclosurephilippines.com) and paid for the event the following day (if the banks were open that time I could have paid on the same day).

Think Rich Quick Seminar 1.0

The event was a success! 100 participants are expected, the numbers reached about 160! Trace started his talk on time, about 9:00 AM, and everyone was ready to go! He talked about what every Filipino need in order to be really successful. He called this module “The 5 Ms to Millions”. He then discussed a strategy called Wholesaling, in which anyone can sell a house to an investor and profit from it even without no money down! Your ROI would be not 50%, not 75%, not even 100%, not 200%, your ROI would be infinity! Afterwards, one of his students Thea Santos talked about her very 1st deal in which she sold a house in 2 weeks giving her P250,000 profit! Wow! In just 2 weeks! This story can be read in Trace’s book Think Rich Quick.

Trace then discussed his eXtreme Marketing concept to sell a house fast. This means again quick money! Next he taught us how to find, analyze, and negotiate good deals using formulas that he has been using in all his deals! And I’m telling you, it really works!

The event also featured Jay Castillo, the very famous author and owner of the blog Foreclosure Philippines (http://foreclosurephilippines.com), and he talked about.. have a guess.. yes! you got it right! FORECLOSURES! Just a brief background of Jay Castillo is he made 3 foreclosure deals in his very first year of doing real estate investing and made really good money out of it. He did this part-time, while he was still working as an employee. This means any of you can do it too!

Actually I bought those properties on my third year of real estate investing, which was last 2009. However, these were the very first deals that I closed as previous deals were either passive investments or are still pending. These 3 deals made 2009 a ground breaking year for me and helped me to get out of the rat race for real.

The next topic was an exercise to analyze a deal and tell if it is a Deal or No Deal. We had a lot of fun analyzing the properties and in turn, learned a lot from it! We are also taught how to raise money from investors. Did you know that during the exercise, one of the attendees raised P20M from an investor and Trace Trajano talked to this investor live at the phone! Mind-blowing! In just 30 minutes someone raise P20M out of nothing!

The highlight of the event is the Apprentice Challenge where 10 teams will compete with each other, given tasks to complete, and the winning team will become Trace Trajano’s next apprentice!

__

It’s fun when you don’t have a boss and you’re earning big!

Financial and Time Freedom Combined!

DJ Dimaliuat

Pinoy Student Millionaire Maker
Sulit URL: http://takehome.sulit.com.ph
Globe: +639154233799
Smart: +639284063994
Sun: +639228111086
Landline: +632346487
E-mail: dj.takehome@gmail.com
Blog: http://takehomephiliipines.com

Source: http://www.takehomephilippines.com/2010/03/1st-ever-think-rich-quick-seminar-by.html

DJ is a team mate of mine in RYP Realty.

By the way, I would like to thank all of the readers and subscribers of foreclosurephilippines.com who attended the event. I’m really glad I was able to meet you all personally during the seminar. It was a blast and I look forward to seeing you again in future events!

To our financial freedom!

Jay Castillo

PS. Are you a new visitor? Click here NOW to start learning more about foreclosure investing in the Philippines.

PPS. If you know someone who might be interested in this post, please do share this to them. Don’t forget to subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. Inbox getting full? Subscribe through my RSS Feed instead!

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There is a better way to make a living!

Jay — Mon, 08 Mar 2010 03:24:04 +0000

Have you ever endured being away from your family just to make a living? Have you ever found yourself asking if all the money you make in exchange for the freedom to be with your loved ones was worth it? Do you find yourself asking if there was a better way to make a living?

I used to be an employee and although I was based here in the Philippines, I remember that I still found myself asking the very same questions above, even though I still get to come home to my family everyday. What more if you were an Overseas Filipino Worker (OFW) and had to live in a foreign land away from your family and loved ones just to make a living, with the belief that this is for their own good?

I had a taste of how OFW’s feel because in a way I became one when I was tasked to be part of a team that deployed an ERP system in Moscow, Russia. During the first few days it was okay but as the days became weeks, feelings of doubt, homesickness, and anguish began to creep in. I stayed there for just about 2 months and I never went abroad for such assignments again, swearing I would never leave the Philippines just to make a living.

I would rather stay here in the Philippines and actually be with my loved ones. I guess deep inside I knew there is a better way.

There is a better way: The story of Bobet

If you have been reading the blog of Trace Trajano, best selling author of Think Rich Quick, you will recall the story of Bobet, just one of the countless Filipino nurses working abroad. Bobet worked overseas, was making good money, but really did not know much about managing his money.

While he was yet to receive his first paycheck, Bobet used borrowed money to buy doodads like a new cellphone. It was obvious that if Bobet did not change his ways in managing money, he would be doomed to working for money for the rest of his life.

Fortunately, Trace’s and Bobet’s paths crossed in the United States and Trace was able to explain to Bobet the secrets of wealth. Bobet was able to learn about passive income, the kind of income that comes in even if you didn’t work for it anymore as it is more like money working for you.

After Trace taught Bobet the concept of passive income, Bobet started a lending company, and then an internet café business in the Philippines. In a year, he became a millionaire. Soon afterwards, he opened his fifth internet café branch at SM in Bulacan. His lending business has also expanded and already operates both in the Philippines in the United States.

Yes, there is a better way! Trace mentored Bobet about the secrets of wealth and a year later he has become a millionaire. He no longer needs to work as a nurse in the U.S. He no longer misses his wife and kids. He can now kiss and hug them everyday. He has achieved in 1 year what most OFWs will never achieve in their lifetimes, unless they also learn the secrets of wealth.

Do you want to become the next Bobet?

If you want to learn about the secrets of wealth from Trace and become the next Bobet, then you have to grab this once in a lifetime chance to see Trace Trajano in person as he shares the same secrets he taught Bobet in a free mini-seminar on March 28, 2010 at the Garden Plaza Hotel, the same venue for the Think Rich Quick seminar that happens the day before.

You read that right, this is a FREE mini-seminar for all OFW’s. Why OFW’s? It’s obvious that Trace has a soft spot for OFW’s as his father was also an OFW but due to lack of financial literacy, he ended up broke and with nothing to show for thirty years of hard work and sacrifice. Trace does not want any OFW to encounter what his Dad encountered and he wants to help through this free mini-seminar.

The choice is yours to make

If you are an OFW, you just got to attend this seminar and learn:

The secrets of Wealth
How to generate passive income
How to generate active income in real estate

There are limited slots so register early. Early registrants also get the following surprise gifts

First 10 to register – “Think Rich Quick” book by Trace Trajano
Next 12 to register – Play Robert Kiyosaki’s Cashflow 101 boardgame for free!
Plus a chance to win one of 3 tickets to Enchanted kingdom

What more can you ask for?! Register now for this free mini seminar by calling the following:

Joy: +63927-5707599
Will: +63917-8580064 or (632) 9645512

Important things to remember

Don’t forget to bring your spouse and your kids (becoming a millionaire is a team effort and your family has to be ONE team). The only thing you need to pay for is for your own LUNCH (at the hotel).

Here are a few words from Trace Trajano:

“Don’t forget to bring your passport (to prove you’re an OFW) and my book “Think Rich Quick” (I will even autograph it for you! You can buy it at a National Bookstore). Your passport and the book will serve as your ticket for this seminar.” – Trace Trajano

Who is Trace Trajano?

Trace Trajano is a real estate investor, author of the best selling book “Think Rich – Quick” and a wealth coach to students around the world. His vision is to create directly or indirectly 1 Million Pinoy Millionaires worldwide by the year 2020. Trace himself is an OFW living in the Mason Ohio with his wife and 2 kids. You can learn more about Trace by clicking on the play button for the slides below.

To our financial freedom!

Jay Castillo

Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Follow me in twitter:http://twitter.com/jay_castillo
Become a Fan in Facebook:Foreclosure Philippines fan page
Text by Jay Castillo. Copyright © 2010 All rights reserved.

PS. If you are an OFW who is lucky enough to be here in Manila, Philippines on March 28, 2010, REGISTER NOW and reserve your seat. Contact Joy or Will through the contact numbers above for seat reservation. Remember, this is a free seminar so seats will definitely run out fast, and there are only 100 seats available. Act now and learn the secrets of wealth!

PPS. If you have a friend or loved one who is an OFW or who knows an OFW, please do them a favor and forward this to them. This just might be help they are looking for!

Related posts:

You are invited to the first ever Think Rich Quick seminar on March 27, 2010

Jay — Fri, 12 Feb 2010 16:45:01 +0000

Are you broke, with no rich friends…

and no banks will lend you money?

You… yes, even you can invest in real estate!

I am very excited to announce that my dear friend and real estate coach, Trace Trajano is coming to Manila and will give the first ever Think Rich Quick Seminar on March 27, 2010. If you have not read his book “Think Rich Quick”, you should. It has changed thousands of people’s lives and it can change yours.

What is the Think Rich Quick Seminar and book about?

People have the misconception that you need a lot of capital to get started in real estate (up to a certain extent, that includes me because I advocate being financially literate enough to be able to at least raise the 10% or 20% for the downpayment). “NOT true”, Trace says and he has a right to say this after having acquired and sold over $13 Million worth of investment properties, mostly with no money down. That’s P1 Billion worth of properties acquired without any money down.

Trace continues, “You can also get started investing in real estate without borrowing money from banks.” For example, in his book, he mentioned a deal he did by taking over the mortgage payments and then he turned around and sold that property via rent to own. It’s an amazing strategy and I believe you should learn about it.

Lastly, Trace dispels the misconception you have to wait years before you can make money in real estate. Trace says, “You can make money in real estate in a few months, a few weeks, sometimes, even in a few days.”

Trace says, “But rather than boast about what I have done, I’ll just show you what my students have done…specially my students in the Philippines. I want to show you that this can be done anywhere, even in the Philippines.” Here are some of Trace’s students and what they have done (NOTE: they are all based in the Philippines!):

Thea Santos – made P260,000 selling a house in just 2 weeks using a strategy called Wholesaling. She sold the property quickly using one of Trace’s marketing strategy.

Gia Garcia – she bought a condo using other people’s money, she fixed it, then sold it. This is a strategy called Retailing. Gia said, “Trace’s advice on how to rehab the property saved me a lot of money!”

Julius Bernard Lopez – made over P300,000 by “syndicating” a deal. He found an investor who managed the renovation…he found another investor to put up the money and the only thing he did is find the deal. Here’s the thing… Julius did this AFTER reading the book “Think Rich – Quick”. Julius is not even officially Trace’s student or franchisee!

Eden April Alemania – she became a millionaire at age 26 (she’s now 27). This is after just 9 months after hearing Trace speak. Watch her video below:

Jessie Raquel and Apple Raquel – Jessie is an OFW struggling with a 10-door apartment he bought as it was only 30% occupied. At a seminar that Trace gave to the franchisees of the Think Rich Pinoy Millionaire Network, he gave Jessie a marketing plan. He implemented this plan and in just 2 weeks, he got his 10-door apartment 100% occupied. As a result of this, Jessie and Apple are now real estate millionaires. Trace even helped them raise capital from private lenders (not from banks!). Here’s the proof:

Ronald Cagape and Weng Cagape – also a husband-and-wife real estate team and now millionaires said, “Trace’s negotiation advice on one deal we were working on saved us P400,000!”

The list goes on and on.

What about you? Do you want your name to be included amongst Trace’s success stories? Then click “I want to be Trace’s next success story” to register for the seminar…

Yes, I want to be Trace’s next success story!

You might be asking, “SO how much will this seminar cost me?” Let me you ask you this…

“What amount of money will you pay to learn how to make millions in real estate?”

I don’t know the tuition fee you need to pay to become a good doctor or nurse or have a high paying job. Say the tuition fee is P50,000 per semester – so we have 2 semesters per year and then multiply that by 4 years…or P400,000. That’s a lot of money but it’s worth it because you can recover that money in just 1 year working as a nurse abroad. Right?

Here’s the good news: once you learn what Trace will reveal during this seminar, you can literally know how to develop a million-peso per year real estate business right here in the Philippines. Jessie Raquel for instance made P500,000 on just one deal. Eden April Alemania routinely makes P200,000 to P400,000 per deal.

The even better news is that you will not spend P400,000…not even P40,000…or even P4,000 for your tuition fee. Trace though can easily charge that amount or more. In fact, one student paid Trace P11,500 to have lunch with him for one hour. That’s right: one hour with Trace can easily set you back by more than P10,000. But at this seminar, you get to spend the entire day with him for less than half that amount.

Alright – I want to make millions…so sign me UP NOW.

In fact, it gets even better. Trace told me that he wants to give people a lot more value than what they’re paying. Trace is giving you not just one seminar but a series of online seminars (one every month – January, February, March and a follow up online seminar in May) as well.

In fact, the January webinar (online seminar) is already over and you might miss out on the February webinar as well (Trace told me though that if you register on or before February 14, he will give you the recording of the February webinar absolutely free!). The February seminar is about having “Millionaire Systems”.

I want the February webinar so let me in!

One more thing… this seminar is more of a workshop. You will learn how to talk to banks (and learn how to buy foreclosed properties from them), sellers, buyers, renters and lenders (or potential money partners) using scripts that Trace and his students used successfully in negotiating a lot of deals.

I want to attend the workshop!

Lastly, Trace told me he wants to limit the attendance to this seminar. Why? He wants to interact with the audience more and he wants to get to know you. He told me “I really don’t make money when you buy my book or even attend my seminar. I make the real money when I get the student to partner with me.” Shhhh….don’t let Trace know that I told you that. It’s supposed to be a secret. At the end of the seminar, he will announce a way for you to apprentice under him and even become his business partner as he puts up a real estate company in the Philippines.

I want to become Trace’s apprentice!

Sorry I digressed… Trace wants to limit attendance to only 100 people – 43 have already registered so there are only 57 slots left. The Think Rich Quick Seminar is being promoted by seminar promoters, wealth coaches, and Trace’s students and franchisees. Literally, this sales letter is going to be read by over 100,000 people and so you don’t want to be left out.

Let me in! I don’t want to be left out.

Just realize the price of admission (which is only $55 or its peso equivalent) is a small fee to pay to know powerful real estate techniques that will put money in your pocket. The seminar is also a good way to become Trace’s apprentice and partner. Take advantage of this opportunity NOW by clicking HERE!

—

Personally I look forward to learning more about wholesaling and how to invest in real estate without borrowing money from banks. I hope to see you at the seminar!

—

To our financial freedom!

Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Click here to contact me via E-mail
Mobile phone (Call/SMS): +639178843882
Follow me in twitter:http://twitter.com/jay_castillo
Become a Fan in Facebook:Foreclosure Philippines fan page

P.S. You need to sign up before February 14 in order to get access to the online seminar (webinar) for February.

P.P.S. Right now there are 43 registered attendees so there are only 57 slots left. Register NOW to get IN. Once all the slots are filled, Trace will close this and you might need to wait 1 year to attend the next one! I don’t want to wait a year so SIGN me up NOW.

*Update – Other payment options:

1) Pay through Western Union. Here are the details:

Send $55 to TRACE through Western Union.
complete name: Trace Trajano
address: 9647 Cedar Knoll Dr., Mason OH 45040, USA

Email him here – moneyyoda@gmail.com and send him the Western Union tracking ID or number.

2) If you don’t have a paypal or credit card, you can also deposit your payment ($55 or peso equivalent) in this BPI account:
Account Name: Kristine Ann E. Aganon
Bank: Bank of the Philippine Islands, Tandang Sora Branch
Account Type: Current
Account No: 2385-0616-28

Related posts:

Thank you and farewell to 2009! Happy New Year to all!!!

Jay — Thu, 31 Dec 2009 15:45:55 +0000

We say goodbye to 2009 and give thanks for a very memorable year. In 2009, we marked the first year anniversary of Foreclosure Philippines, although I never got around to creating my first anniversary post. Actually, October 31, 2009 was the day of our first anniversary. Nevertheless, I just want to mark that day as we bid farewell to 2009 and I would like to take this opportunity to look back at 2009 for one last time.

Looking back at 2009

The last sunset for 2009

My target for 2009 was to get out of the rat race with the help of acquiring at least 4 income generating properties. Thanks, or rather no thanks to Typhoon Ondoy, I was only able to get 3. Not bad! I still consider buying 3 foreclosed properties in a year to be an accomplishment. Now I just need to get a tenant or a buyer for my 2 remaining vacant properties. All I need is to focus and dedicate more time to marketing them. Wish me luck!

By the way, thanks to the 3 month moratorium for amortization payments given to Pag-IBIG borrowers affected by Typhoon Ondoy, I am technically out of the rat race while the moratorium is in place. I guess now you have an idea how much more passive income I need to get out of the rat race permanently in 2010.

I also remember at least 3 visitors/readers who have actually bought their first investment properties. Each time I learn about new investors buying their first properties, I can’t help but feel a sense of satisfaction and accomplishment!

Of course I have a lot of plans for the coming new year. I have a lot of things to improve on, lots of changes that need to be done, and also a lot of challenges to face and address. I guess I’ll just share more about these in my next post that welcomes 2010…

For now, let’s just focus on 2009. It really was a very memorable year to say the least and I would like to thank all of you who have been with us through it all.

Thank you to my mentors in real estate investing, financial literacy, etc…
I would like to thank my mentors and fellow real estate investors who have been a big help for me in 2009, most of whom I have had the honor of meeting in person, others I have met online, and a few through their books. These include Robert Kiyosaki, Bo Sanchez, Larry Gamboa, Trace Trajano, T. Harv Eker, Tim Ferris, Thea Santos, Ronald and Weng Cagape, Eden April Alemania, Jessie and Apple Raquel, Engineer Enrico Cruz, Kuskos Balungos, CondoInvestor, Gleceper, Jon Abaquin, Dodie Felix, John Calub, fellow TRP Club Marikina Members, Earth, fellow brokers from REBAP MRCI and REBAP National, fellow members of buyfirstdeal.com, fellow forum members of PinoyMoneyTalk.com, my broker, my contractor, and all fellow investors who I have met during auctions.

…our sources of income generating properties…
Of course I would also like to thank all banks in the Philippines, SPAV’s, Government Financial Institutions(GFI’s), auction specialists like Property Forum and CBRE, private lending institutions, and cities and municipalities who have made available their various listings of foreclosures, foreclosed properties or acquired assets, and repossessed cars.

…and also to my mentors and fellow bloggers from the blogosphere…
I would like to thank Jomar Hilario, Anton Diaz, Joel Christopher, Ian Del Carmen, Tyrone, Dinah, James, Melo, Fitz, Roel, Sel, Marhgil, Jan, Snow, Manuel, fellow attendees of Anton’s Maven Secrets Program, fellow attendees (and members of the online version) of Jomar’s Internet Marketing Workshop, and a whole lot more. All of you guys have helped me in one way or another, sometimes without you even knowing it.

It goes without saying…
And I also thank my loving wife and my son CJ who really are the main reasons why I want to become financially free, all family members and friends who have been patient and supportive as I continue on this journey to financial freedom and to our Almighty God who has made all of this possible.

… and last but not the least, a big thank you also goes out to…
All of the readers and subscribers who have been with us through thick and thin in 2009. Thank you to all of you who are in the same quest as I am. Thank you for all the words of encouragement, questions, comments, and concerns raised that I have received through the comments section, e-mails, text, and also from those who I have had the pleasure of meeting like Mike, Dan, Paula, and Roel who I have met recently. I thank each and everyone of you!

A Prayer that helped me all throughout 2009
As 2009 ends, let me share with all of you one prayer that has not only helped me survive 2009, but also thrive in spite of all the challenges that have come my way.

The Serenity Prayer

God grant me the serenity
to accept the things I cannot change,
the courage to change the things I can,
and the wisdom to know the difference.

With that, I say goodbye and thank you to 2009 and wish everyone only the best for 2010!

Happy New Year and Happy Investing!!!

To our financial freedom!

PS. If you are a new visitor, please start here to learn more about foreclosure investing in the Philippines.

PPS. If you feel that anyone else you know might benefit from this post, please do share this to them and don’t forget to subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. If your inbox is getting full, you may subscribe through my RSS Feed instead.

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My Dad is a broke OFW (An open letter to all OFW’s)

Jay — Wed, 21 Oct 2009 14:43:49 +0000

The following is an open letter to all OFW’s by one of my mentors, Trace Trajano, bestselling author of “Think Rich Quick” and a wealth coach to his students around the world, including myself. Just like my article “To all OFW’s: Need To Earn Passive Income And Come Back Home For Good? Try Foreclosed Property Investing!“, I hope this inspires you to act and pursue financial freedom and become truly wealthy.

My Dad is a Broke OFW (An open letter to all OFW’s)

Posted by Trace Trajano on October 16, 2009 at 9:14am

Kumusta na kabayan!

First, I would like to thank you for being an OFW. My dad used to be an OFW and I know the many sacrifices you are enduring right now just so that you can provide the best for your family. I admire you, I appreciate you and in my book, you are a true Pinoy hero.

Second, I would like to help you. I would like to help you in the same way I helped Bobet, a former OFW. Under my coaching, from being broke and in debt, in just 12 months Bobet became a millionaire. Bobet is in fact back in the Philippines. He no longer needed to work as a nurse here in the U.S. He no longer misses his wife and kids. He can now kiss and hug them everyday. He has achieved in 1 year what most OFWs will never achieve in their lifetime. How did he do it?

I taught Bobet the Secrets of Wealth. And if you want to be like Bobet, read on because I want to teach you the Secrets of Wealth as well. But there’s a catch. You will only understand the Secrets of Wealth by understanding how my dad, an OFW like you became broke.

I’ve experienced as a child what I call a roller coaster of wealth. In Tagalog, we call this “Gulong ng Palad” (Wheel of Fortune) because there are times we’re on top of the world and there are times we’re at the bottom. When my dad comes back from abroad it is like a fiesta. The alcohol is overflowing. The whole town seems to be at our door step and my dad’s pasalubongs never seem to run out. Packets of cigarette. Bottles of whisky. Chocolates for the kids. Jewelry for my mom. It is like we’re millionaires every time my dad goes home.

But we’re millionaires only for a short time.

Two weeks later, the money’s gone. My mom and dad start to argue. And my dad seriously considers going back to the ship. He borrows money from his mom – my grandmother (we call “Nanay”). One time, my mom and dad even asked me to borrow money from Nanay because both of them were already turned down. I guess that tactic worked because Nanay couldn’t say NO to his apo and we ate dinner that night.

Then things turn for the worse. The many friends who cheerfully greeted my dad’s homecoming are no longer around. Instead, creditors start hounding us, pounding at our door. At 8 years old, I am taught to lie and tell the creditor my mom is not around even though she is just there beside me kneeling and praying the creditor goes away.

From feeling like millionaires for a few days to being dead broke 2 weeks later – describing it as a roller coaster or a wheel of fortune is an understatement. My mom and dad managed to squander all their savings and more.

So 2 months later, my dad is back at the airport again. We have tears in our eyes once again as we bid him goodbye. My dad would have to work hard on a ship 10 months in a year mostly to pay off our greedy lenders and creditors.

My dad tried to invest – buying a tricycle but the business became bankrupt as fast as it was started. My dad recalled that tricycle with pride in his voice “It was the first stainless steel tricycle in our town”. He was proud of the product but he did not take the time to understand the business.

There were many days our home is literally dark because we couldn’t pay for the electric bill. Once, as a 9-year old boy, I was devastated when I saw my books have been sold so that we will have food on the table that day. Then the worst happened: we lost our home to foreclosure because there was no money left to pay for the mortgage.

Is the story above familiar to you? I bet most OFWs have the same lifestyle cycle as my dad. Rich one day then broke another.

Have you discovered the Secrets to Wealth in my dad’s story?

At its core, it really is very simple. You will be wealthy if you do the exact opposite of what my dad did.

Don’t waste your money by throwing a lavish home coming party for the whole town – SAVE your money instead. Have a small gathering with your family and loved ones. Your children will appreciate it more because they want your presence more than your presents. Get into the habit of saving at least 10-20% of everything you earn. The earlier you get that habit the wealthier you will become or the faster you will become a millionaire.

Bobet saves 50% of what he earns. No wonder he has become a millionaire in only 12 months.

But you cannot save your way to millions. You have to learn how to invest your savings. My aunt who used to work as a bank clerk, who earned 1/10th of what my dad earned as a seaman is now a multi-millionaire because she learned to invest her money. Your savings must go to “work” for you. They must produce good returns or profit. But you cannot stop there. You have to reinvest your profits so that your wealth can grow exponentially.

My aunt started a business butchering chickens in the wet market (palengke). She saved half of her profits and lived off the other half. She then put her savings to buy a store. The profits from the store and the chicken business were then invested into a farm. The profits from the farm, the store and the chicken business were then invested into a resort. The profits from the resort, the farm, the store and the chicken business were then invested into apartment buildings.

As a result of saving, investing, and reinvesting her profits, my aunt becomes richer and richer even as she works less and less while my dad because of spending, borrowing, then spending becomes poorer and poorer even as he works harder.

The choice is yours. Bobet chose to become rich and he put in the time to learn and apply the Secrets of Wealth. Bobet is now in the Philippines employing 30 people because of the businesses he started. 30 families now rely on Bobet because he applied the Secrets of Wealth and Bobet is proving you can become wealthy even back home.

I like you to be wealthy my friend. But the choice is up to you.

Dedicated to your success,

Trace

P.S. Please forward this to every OFW you know – in fact, forward it to everyone you know for that matter. Everyone needs to learn and apply the Secrets of Wealth.

—–

To our financial freedom!

Jay Castillo
Real Estate Investor
Real Estate Broker License #: 20056
Blog: http://www.foreclosurephilippines.com
Social Network: http://foreclosurephilippines.ning.com
Mobile: +639178843882
E-mail: ph.investor [at] gmail [dot] com

P.S. – If you are a new visitor, please start here to learn more about foreclosure investing in the Philippines.

P.P.S – If you feel that anyone else you know might benefit from this post, please do share this to them and don’t forget to subscribe to e-mail alerts and get notified of new listings of bank foreclosed properties, public auction schedules, and real estate investing tips. If your inbox is getting full, you may subscribe instead to my RSS Feed.

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How NOT to invest in foreclosures

Jay — Fri, 16 Oct 2009 23:21:30 +0000

One of my mentors, bestselling author Trace Trajano, recently posted a story about Anna, who bought a property in a foreclosure auction in the US. Take note that some of the things in the story might not be applicable here in the Philippines. Nevertheless, there are lessons here that are applicable to real estate investors no matter where our locations may be. Before that, here’s the story of Anna…

The Story of Anna
Posted by Trace Trajano on October 15, 2009 at 8:31am

Let me tell you the story of Anna…

Anna excitedly attended a foreclosure auction because she read a book saying that you can get a good deal at auctions.

She bid at the auction and won – wow. “Now I am going to be rich”, she told herself.

She needed 10% down – so she withdrew her life savings and use that as downpayment. Her credit is very good so she was able to qualify for a loan. She pulled it off.

Now it’s time to rent out the property.

BUT, there is a problem. In FORECLOSURE auction, there is very limited time to inspect the property. In fact, she bought it because the outside looks good and she figured the inside should be in good condition also.

There is termite damage at the joints and it’s an additional $5,000 repairs that she couldn’t afford. She pulled out her credit card and got a cash advance – payable with 24% interest. She figured she can rent the property for $1,000 a month so that will more than cover it, right?

She got a tenant. She did not pre-screen her properly. She got a bad tenant. A tenant from hell in fact. Her tenant only paid the first month’s rent and now does not return her phone calls. She optimistically said, “No problem – I’ll get her evicted”. Her tenant from hell is a professional tenant. He (the tenant from hell) accused Anna of being a slumlord. The eviction was delayed.

Two months of no income…then three months. Now Anna had to skip paying her credit card because she cannot even afford the minimum payments. Anna had to fire her eviction attorney because he couldn’t handle the eviction against the professional tenant.

Wan’t to know the rest of the story? Read the rest here: http://buyfirstdeal.ning.com/forum/topics/the-story-of-anna

Real estate investing lessons learned

Let me try to dissect Anna’s story and share lessons learned with regard to real estate investing.

1. Invest for the right reasons
After Anna won the auction, one of her immediate thoughts was “Now I am going to be rich”. There really is nothing wrong with wanting to get rich, who doesn’t! However, I can’t help but feel that money was her biggest motivating factor. Besides, once you win your first auction, becoming rich is usually the last thing on one’s mind, at least that’s how I often feel when I win on my bids during auctions. I usually have thoughts like “Oh no, I won… what did I get myself into?”, “Now you’ve got a lot of work ahead of you Jay…”, and “I did my due diligence right, so this deal should work!”. That’s why I can’t help but feel there’s something lacking here based on the story because her focus was on the money.

Just remember that if you are going into real estate investing just for the money, something is definitely missing! Personally, I always try to keep in mind that my decision to go into foreclosure investing is not really just about the money, it’s about financial freedom!

2. Don’t risk everything when investing!
Anna withdrew her life savings and used that as down payment. Don’t ever do this, it is not a good idea to risk it all for one deal! You should at least have an emergency fund intact somewhere safe. I don’t believe in putting everything on the line like my entire life savings as I would rather set aside money for the specific purpose of investing and only use that. I refer to this as my “Financial Freedom Account” or FFA which is just one of my “money jars” which I learned from T. Harv Eker and you can read more about it here: Manage your finances by becoming your own Chief Financial Officer.

Some of you may be thinking “But maybe Anna did not have enough money so she needed to use her life savings?”. Just a word of advice, if one cannot manage his/her money in order to set aside enough money to put down for a real estate investment, then one is not yet ready to start investing. There should really be no need to use one’s entire life savings if one is able to manage their finances well. I believe that this is a prerequisite to real estate investing.

3. Always do your home inspections as part of due diligence
Anna bought the property because the outside looks good and she figured the inside should be in good condition also. Argh! Never buy a property without first doing a thorough inspection and getting estimates from reliable contractors. I made this mistake once but I was lucky that property’s after repair value (ARV) was more than enough to cover the actual repair cost that I underestimated by Php100,000.

In Anna’s case, had she done her inspections well, she could have discovered the termite damage and avoided buying the property since she could not afford the termite damage repair. Actually it would be okay to buy properties that have similar problems as long as they are discovered before purchasing the property, the costs are considered and justified after analysis, and the additional cost is reasonable and affordable.

With regard to the very limited time to inspect properties being sold in foreclosure auctions, this is very true, even here in the Philippines. This is the reason why I would rather buy bank foreclosed properties or bank acquired assets, which are also often referred to as ROPOA or ROPA. In the Philippines, properties being sold in foreclosure auctions are those that have just been foreclosed and they are often for sale on cash basis only and they still have a 1-year redemption period, just like tax foreclosures.

4. Always Pre-qualify tenants
Anna did not screen her tenants well. Without pre-qualifying tenants, one is inviting trouble. By Pre-qualifying tenants, you basically want to ensure that your tenants not only have the capacity to pay but are also good payers. A simple interview or a questionnaire and some background checks would have helped her avoid that tenant from hell.

Anna’s problems snowballed into something she could no longer handle but the sad thing about it is all of these could have been avoided had she done her homework. This is really one story which outlines how one should NOT invest in foreclosures and all real estate investors should learn from it as it contains perfect examples of what NOT to do.

Did I miss anything? Any reactions? Please share your comments below. Thanks!

—–

To our financial freedom!

P.S. – If you are a new visitor, please start here to learn more about foreclosure investing in the Philippines.

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Have you acquired your first deal?

Jay — Tue, 22 Sep 2009 03:50:10 +0000

Have you acquired your first deal? If yes, congratulations! If not, why? Do you need any help?

If you really do need help to acquire your first real estate deal, here’s good news! My mentor, Trace Trajano, bestselling author of “Think Rich Quick”, would like to help you acquire your first investment property. Last September 21, 2009, Trace launched the “1,000 members in 10 days challenge”. Trace said that if we can get 1,000 members to his new site http://buyfirstdeal.com in 10 days (by September 30, 2009), he will give away his audio CD – “How to Acquire your First Deal” – FREE.

What does the audio CD contain?

Trace explains below:

I interviewed 2 of my students who recently acquired and completed their very first deals in a webinar (online seminar). Their stories inspired my other students. One of them acquired his very first investment property 2 weeks after listening to this webinar. Because of this, I decided to record this webinar on a CD and just give it away. My hope is it will inspire YOU as well so you will finally acquire your very first investment property.

Over the next 10 days, I am going to give away valuable information to inspire and educate YOU. Visit this website everyday and invite all your friends to join. It’s absolutely FREE and again, I will give away the audio CD “How to Acquire Your First Deal” only if we can get 1,000 members to this site.

Would you believe that I am actually one of those students that Trace interviewed? Yes, it’s true! It’s an honor for me to share how I was able complete my first deal (technically it was my third deal but it was really the first one that I completed) and I really hope what I shared during the interview will help you acquire your first deal. Here’s your chance to get a copy of the audio CD for FREE!

If you’re interested, sign up NOW! Just click on the “Sign Up Now!” link below. You may also share this to all your friends so that they too can have a copy of Trace’s audio CD “How to Acquire Your First Deal” for free! Remember, if we get 1,000 new members to his site http://buyfirstdeal.com by September 30, 2009, everyone who signed up will get a copy of the audio CD for free!

SIGN UP NOW!

Happy learning!

—–

To our financial freedom!

P.S. – If you are a new visitor, please start here to learn more about foreclosure investing in the Philippines.

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You’re Invited to a Free Webinar on Doing Foreclosures Without Talking with Banks

Jay — Mon, 16 Feb 2009 23:41:00 +0000

Mr. Trace Trajano, Author of Think Rich Quick!, will be giving a a free webinar (a web based real estate investing seminar) about doing Foreclosures without Talking with Banks. According to Trace, the knowledge we will learn here will apply anywhere in the world, but we might need to tweak them a little bit if you are investing in foreclosures here in the Philippines. The webinar will be on Tuesday, February 17, 2009, 10:00am-11am(Philippine time).

I’m so sorry for the short notice, I’ve been attending Trace’s “for students only” webinars and somehow I thought this was also one of them but it’s really free for everyone. Trace often gives online real estate investing seminars to his students and franchisees as part of our real estate investing training. Yes, I am a student of Trace and he is one of my mentors. You can get more info about the free webinar below as described by Trace in his blog:

There are so many things to learn…

The guy I am going to talk with tonight is a genius. He figured out how to do shortsales or buying houses before they get foreclosed on from banks without even talking with them. HINT…You need something that starts with the letter “S”…to be able to do this. TONIGHT, 9 PM you will find the answer.

Just attend will ya.

The knowledge you will learn here will apply anywhere in the world. You might need to tweak them a little bit if you’re outside the US, but we’ll assure you that this makes sense. Click here NOW

https://www2.gotomeeting.com/register/185316478

dedicated to your success,

Trace
P.S. During the webinar, you will find out how you can get my mentoring/partnership program FREE for 90 days. I have not done this before and I will not do it again so if you want to get me as a mentor, click here and register – and more importantly, attend the webinar. Click HERE – https://www2.gotomeeting.com/register/185316478

P.P.S. The guy with multi-colored hair…who will be speaking with us tonight agrees he will do a Q&A portion. If you have a burning question about shortsales and you can’t afford to pay a “guru” thousands of dollars…attend our webinar for FREE – https://www2.gotomeeting.com/register/185316478

I am really excited with this seminar as I believe we’ll get a lot of knowledge about investing in foreclosures. Best of all, it’s free. We could all use free real estate investing training right?!

If you are interested in getting Trace’s mentoring/partnership program FREE for 90 days please attend the webinar to find out how and let him know afterwards through e-mail that Jay Castillo(that’s me!) invited you as the program is by invitation only. Trace’s e-mail address is MoneyYoda@GMail.com. You can get more information here. Thanks.

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