Everyone who has taken action, and has made a profit, briefly tell us about it here! It's OK if you still have a loan, as long as you are profitable each month. Tell us about your success.
I am one of those grateful students who took Dean's encouragement and went out and took action.
I was carefully skeptical too, but I took the chance and spent $20 to read the book. Glad I did. It gave me enough knowledge and encouragement to take action. I found a realtor/investor that answered all my detailed day to day questions. I looked for a few months, made 3 offers, and bought a 4-plex that turns a profit of $600 each month!
Right now, I'm taking a profit of just $200-$300 each month as I am putting some profit back into the 4-plex to fix it up to be safe and nice. Nice places attract good renters. But the key is that it is profitable. 1) Extra money each month, 2) It is going up in value, and 3) my tenants are buying it for me with their monthly rent payments, so one day, I will own the property outright, without me putting in any of my own money. I put in my time to find it, buy it, fix it up, and manage it right now. But one day (when I've learned the managing business, and/or I'm tired of managing it) I will have a property management company handle it for me, and I'll still make a profit, or positive cash flow each month.
Yes, I had good credit, and yes, I just set up a Home Equity Line Of Credit (HELOC) that I could use for a down payment. So buying was not a stumbling block. Soon I will refinance and free up my home equity to make the next purchase, to be just like this one.
I express my gratitude to Dean (and all those who help him be successful) for encouraging me to finally be brave enough to take action! I win, and so can you.