I thought I was going to be fine with all this holiday madness, unlike every other holiday season. I was getting myself in the mood, singing corny Christmas tunes, and even telling my daughter how this year will be "different" because I'm embracing the holidays now.
Yeah...okay. So that was soooooo yesterday.
Today is a different story. Very different story
Let's start off with me catching Sometimey Bitch's dog crapping in my yard today. And how she didn't clean it up because she figured no one was looking...the fake ass phony bitch that she is.
But that really isn't my issue. People are people and that's the least "sinful" you could possibly get, especially after you hear what I have to tell you next.
I just found out (by my dad) that my brother was almost killed on Thanksgiving night.
Yep. Almost murdered.
Let me remind you that my brother is a single parent of 2 teenagers (who were with him when all this went down) and his daughter (who just turned 14) is disabled. (She hasmuscular distrophy and is also mentally challenged).
So...here it is during a "happy" holiday season and we have a couple of gang-bangers who decide to ram the back-end off my brother's Ford Explorer as he's driving home...somewhere in the time frame of slightly after 11pm the night of Thanksgiving. They hit his Explorer so hard that the bumper instantly came off. And one of his break/tail lights cracked into a million pieces.
They then tried knocking him off the road by side-swiping him. They indicated that they wanted him to pull over.
One thing about my brother -- even though he's not the brightest upstairs -- is incredibly street smart. And he knew not to pull over or succumb to being bumped off the road. The good news is that his vehicle was bigger than theirs so...bumping him off the road wasn't an option.
My brother decided to slam on the breaks and fell back in traffic, losing the gang-bangers in the crowd. (The good thing about LA traffic is that there are always lots of cars on the road.)
If he would have been forced off the road, I'm guessing that these crazy lunatics would have probably opened fire on my brother and his 2 kids. Anybody that insane to start hitting people's cars at full speed with their own vehicle is doing it to go the entire distance, if you know what I mean. It's not like shooting someone with a paintball gun or throwing a can of soda on someone's windshield. By the time you're taking your own vehicle and ramming it up the ass of someone else's at over 70 miles per hour...you're looking for some major physical altercation, more than likely resulting in someone's death.
Maybe it's just me but, quite honestly, I'm getting tired of people being so hateful and violent. It's getting old. I guess I'm not understanding why people don't choose to be respectful to their fellow human beings because all we have is each other. If you don't like other people, great. Just keep to yourself. How difficult is that??
Maybe that's part of my depression now...or part of my depression that I always seem to have that never seems to go away, lingering like the black cloud that it is for as long as I can remember. Too many people are mean, ruthless, and dangerous to others. I thinkeveryone gets to the point where we've all had enough.
So...even though I predict that 2015 will be a prosperous year for many, I also predict that some violent things may come to a head here in the United States. And maybe that's the way it needs to be. After unrest comes rest. When things have been coming to a head for so long, something has to give. When it does, things may be a disaster for awhile but at least everyone will know where they stand. And maybe some boundaries will be set in place, in the very least.
The best you can do as a respectable higher-level spiritual being is to try sending love when you can while avoiding catastrophe at the same time.
Maybe driving on the freeway through LA at midnight isn't the most brilliant plan, which is probably why my dad had to tell me what happened instead of my brother telling me himself. (Because he'd know that I'd ream his ass out!)
Maybe staying at home to watch Dancing with the Stars may be a more prudent idea than showing up to some kind of potentially violent protest somewhere.
Maybe staying focused while learning something new is a better blueprint for unraveling a positive future than hanging out with people who just aren't servicing your life anymore.
I have a unique belief and that is this: it seems that as time moves forward even faster than ever (thanks to technology and other advancements), people either need to step into the light or then need to recess into the dark. Whichever you choose is where you'll remain.
If you notice lately, things are becoming more and more transparent. You can't dupe people anymore if you're a politician, rapist, or criminal. You can't hide in the shadows or behind a high-pedestal title/ranking anymore without the light shining on you to reveal all of your secrets for all to see.
And the nice part about exercising free will is that you can choose at any time whether you want to be on the light side or the dark side. Having experienced both sides, I can tell you that the side of light is where you want to end up. Having seen the dark side, I will mention that -- for most who end up in such a place -- there is noescape. And last time I checked, eternity is a very long time.
The only way to end up in the light is to be the light. And you can't do that by being violent and spewing hatred throughout the world. You can only end up in the light by doing right by yourself and, perhaps most importantly, by others.
I'm grateful my brother and his 2 kids are okay. I've always known that he has a pretty powerful guardian angel alongside of my mom who is always watching out for him from "up there." But it still saddens me that these incidences are part of this disturbing place we call the earth plane of existence.
As we enter this holiday season (Christmas is next week already...hello) maybe instead of it being all about what gifts we can buy and what gifts we hope other people will give to us...maybe giving a smile to someone is enough. Or holding the door open for someone. Or giving a few bucks to a destitute bum on the street corner who doesn't believe there's a single human being that's in his corner.
Just making a difference, even in a small way. You don't have to be rich to make this world a better place for other people other than just being nice to your fellow man and woman. Just be nice, for crying out loud. That, in and of itself, will make all the difference!
See you at the top!
Your mentor,
Monica Main
www.MonicaMain.com
P.S. If you want to send a card/letter in the mail for those of us rallying to get Lea back for the first week of January, tomorrow will be the last chance you'll have to get that in the mail for me to get it on time!
A lot of people don't know this little "fun fact" about me but...I get coal in my stocking. And yes, I get coal every year.
How can this be?
Well, many of you know that I have a 6-year-old daughter and, of course, I go way overboard getting her Christmas gifts each year. (She's an only child so "spoiled" is an understatement.) Since I don't want to deal with the "fuss and muss" of wrapping my own gifts to put under the tree, I just get some coal and throw it into my stocking for a couple of reasons: (1) it's easy to do; no buying, wrapping, and wasting time on my own gifts for meto unwrap, and (2) I use it as a tool to keep my daughter in line as in..."See what happens when you're not a good girl all year?"
Every year the material in which the "coal" comes in varies. One year it was some kind of licorice. (I absolutely detest licorice, by the way.) One time it was gum that looked like coal. The year before, it was plastic. Last year it was real coal in a bag. This year I've already secured my "coal" purchase for my stocking. It's a "coal" stress ball, which I can actually make use of unlike all the other "coal" I've received in year's past.
But this whole "coal" thing got me thinking about a couple of very important key elements:
1) Why am I putting coal in my own stocking? How hard would it really be to buy myself a couple of things I really want, wrap it up, and put it under the tree so my daughter can see that I'm worthy of actually getting something??
2) How many of us are subconsciously putting "coal" in our own "stockings" in life by not seeing the good we deserve?? (Answer: all of us are doing this daily to ourselves!)
So, I promised myself that this will be the very last year I'll be putting coal in my own stocking. Next year? Maybe I'll buy a new Land Rover and have it delivered with a big red bow on it...and I'll throw the keys in my stocking instead of coal.
Or maybe I'll put an envelope with a trip to the Cayman Islands in my stocking.
Or maybe I'll stuff a new man in there. Okay. Maybe I'm getting out of hand here.
My point is: you can put whatever you want in your "stocking" of life. At any time. No exceptions. I don't care what anyone says.
I know this lifetime may have thrown more than enough challenges your way. One of the biggest challenges for most people is the money part of life. The economics don't seem to flow as well as you'd like them to.
And guess what? All that started in your head. You somehow, somewhere during your life travels believed it when someone said "making money is hard." When really, it isn't. In fact, I know of fewer things that are easier than making money.
To me, relationships are hard. Marriage, impossible. Dealing with people, for me, is difficult. Having family is arduous, most times. (Or shall I say, "What family??") Friends...almost impossible to make and keep. But I guess those are my personal issues/challenges for this lifetime.
Making money? Super freaking easy. Having "things"? As simple as snapping your fingers together.
How? I don't know. I wish I could describe how it works but it's sort of like this: I have this laser focus when it comes to the things I want. And once I focus on it, I block out the lip-flapping from the "chatter bugs" in my head that tend to tell me I can't do it. I not only block them out but I call out the pest control company and spray them out. And they become silent...forever. Never to speak another lick of negativity again.
Once I start working toward a goal (i.e. "action") then any and all doubt quickly subsides. Usually I'm shown other pathways and I remain flexible in the new pathways that I'm shown as I'm moving along. I enjoy my journey and I never really reach a destination because reaching the "end goal" means depression for me. (It's the moment when I say, "Is this it?" and that's never a good place for me to get to.) So, my life (and my projects) are constantly an ever-changing work of art. And that's what makes my life exciting.
Do you want to know why making money is so easy for me? Because there are tested and tried "rules" that never fail once you put them into action. It's like a mathematical equation that never fails. I use this when doing both Aggressive and Passive Income Strategies. I use tried and true equations. They never fail!
People fail. Equations never fail. And that's why I think I make them work so well. Math never lies. Math never cheats. Math is consistent as long as you follow through with the equation!
Here are a few tips for you:
1) Never do something just for the money without having a passion for it. If you do something "just for the money" then you won't make money at it. Pure and simple.
2) Guaranteed, anything you have a passion for, there is a way to make money with it. I don't care what anyone says.
3) Your biggest enemy is...(ready for it?) YOURSELF! You have to damper (or completely kill) that negative chatter in your head otherwise you'll psyche yourself out of every opportunity that life has afforded to you.
And finally...
Stop putting "coal" in your own "stocking," if you know what I mean.
See you at the top!
Your mentor,
Monica Main
www.MonicaMain.com
P.S. My Holiday Blow Out for the BOGO on the Mentorships (or 1/2 off) is in full swing. Here's the link: http://www.monicamain.com/buy_1_get_1_free_mentorship
P.P.S. Here are your Monica Bucks in case you didn't get them yet: http://www.monicamain.com/monica_bucks_2014
P.P.P.S. Last one, I promise. I'm still collecting "We Want You Back!" letters and cards for Lea. If you want to send one, please send it to: Global Success, Attn: Lea, 28170 Avenue Crocker, Suite 109, Valencia, CA 91355. Remember, I'm seeing her on Friday, December 19th for the holiday staff dinner. Time is running out if you want to get me a letter or card to pass onto her so we can get her ass out of retirement come January 2015!
These days it takes a lot for me to say, "What a stupid motherf*****!" in this business of training students but that's exactly what happened the other day when a student said the following:
"So...the bond people will accept 10 points (percent) that is rolled into the loan. Why do I have to pay the rest of the money back? Why won't they accept just the 10 points and that's it?"
Huh?
Okay, so I understand that maybe people don't understand how 100% LTV Bond Funding works but there's a difference between F*REE GRANT MONEY and a BOND FUNDING PROGRAM. And this is NOT f*ree grant money, to be crystal clear here in case there's an ounce of confusion among you! Bond funding is nodifferent than how a bank loan works and it needs to be paid back accordingly, as in monthly interest andprinciplepayments...just like any other bank loan.
You wouldn't buy a car and then tell the auto financing company..."Why do I need to pay the balance of my loan? Can't I just pay you the interest ON the loan and that's it? Why wouldn't you be happy with just that? Why do you want the rest of it?"
Try it and see if your car is still in the driveway after a few months. Chances are...the repo man will have had its way with your vehicle by then if you're that dense in how financing works.
If you were a bank that opened a mortgage on a property for $1,000,000 for somebody...would YOU be happy with receiving JUST the interest on the loan WITHOUTreceiving the principle back too?? Why would I have to even address such a stupid question to begin with...is what I simply don't understand!
It makes you wonder how some people have gotten this far in life without a lick of common sense lodged between their ears.
Let's try out this logic in real life to see how this could play out in your personal life. A friend of yours -- we'll call him Billy Bongo -- borrows $1,000 from you. He promises to pay you back in 30 days with interest of 10% (or $100). But then 30 days passes by and he shows up with only $100. You're like, "Billy Bongo -- you freaking schmuck! Where the f*** is the rest of it?" And Billy replies, "But I thought you only wanted the interest back?Why would I have to pay the rest?"
That's when you're Bongo-ing his ass out the front door so he can hit the nearest bank for the rest of the money he owes you. And if he doesn't come back with the money, you vow to find him in the nearest dark alley with your other friend, Billy Club...your prized baseball bat, to exercise a little Uncle Guido-style collection debt collection tactics.
Bond funding is no different than bank funding. Don't treat it any differently. The only real difference (which has absolutely nothing to do with you) is how they get the money. Think of it as "crowd funding" mixed with other investor raising capital methods...except all this is "behind the scenes" (don't mind the man behind the black curtain) and hasnothing to do with how you treat the money when you get it for your piece of investment real estate. You only think of it as a 100% LTV bank loan.
And yes, that includes having to pay the principle back (shocker!); in this case, it's over a 30-year amortized period of time like any other conventional bank loan. With interest. With the loan points rolled into the loan from the get-go. At a 100%LTV. These are benefits you won't get with a conventional mortgage from a traditional bank/lender.
To me, that's a pretty good deal. However, this structure won't work in areas of the country where the CAP rates are low. Like in Seattle or LA or Portland or NYC or any other area where you're looking at a single-digit CAP rate. Why? Because you can't support a 100% LTV loan on any overpriced property anywhere. The numbers just don't work!
By the way, this 100% LTV program is available all throughout the USA and for all types of properties. To download the specs on this program, go to this link: http://www.monicamain.com/100_ltv_bond
So please, stop calling my money broker and asking him lame questions. If your common-sense understanding of basic financing is that far off, go take a college course in Economics 101 firstbefore sounding like a fool on the phone.
Remember, you're talking to money people, lenders, and other serious investment folks. When you sound mentally challenged...let's just say those bridges are quickly going up in flames, never to be used again...especially if you keep calling over and over again (try 7 times in a row) with the same stupid ass question. Over and over again. I mean...really??!! Is common sense in that short of a supply these days or were a lot of people dropped on their heads by their moms as infants?
By the way, I should mention that using this powerful Bond Program is going to be covered in my upcoming 100% LTV Mentorship Group, starting on January 11th. I have a deal going on for my mentorships: http://www.monicamain.com/buy_1_get_1_free_mentorship
First off, thank you for your support in getting and reading (and putting up Amazon reviews) for my Kindle book: The 18-Month Millionaire. It went to #1 in the "small business" category last weekend because of you guys and gals. So, thanks a lot!!
Onto another subject...
Rumor has it that Lea may be coming back after the first of the year. Of course, it's coming from somewhat of an "unreliable" source so...who knows?
For those of you who don't know who Lea is, she'd been with me for 5 years before retiring this past September. She was the best customer service employee I've ever had and she has her own "fan base" among my students who -- I might add -- would rather talk to her on the phone than me. That's how good she is.
When I tell you that retirement is boring it means that retirement is boring. Most people last about a maximum of about 90 days before they're climbing the walls...and this is sometime after they've squeaked past the 60-day mark. (This is why "retirement" shouldnever be your end-all be-all goal.)
Lea used to tell me that she has all these "projects" to do like finishing quilts and other such nonsense. There are only so many home projects you can do before you start using that sewing needle to stab your own eyeballs out.
And I think that's where she might be right now.
It'll be good to have that bubbly personality of sunshine that she is back here at the office, even if it's only part time.
So, I called her to invite her to a GSS holiday staff dinner on Friday, December 19th. This morning she called me to confirm that she'll be there. (That's a good sign.) I asked her about retirement and she didn't seem so enthusiastic about sitting around at home anymore. I asked her if she has thought about coming back and...she indicated that she was "maybe" interested in coming back part time.
And "maybe" she could come back within the first couple of weeks of the New Year. "Maybe."
I know some of you are hard-core Lea fans. So...I have a little bitty idea. For those of you who want Lea to come back, if you could, send her a card (to me here at the office) and I'll take these cards to her during this holiday staff dinner shin-dig on the 19th.
Maybe that'll convince her to come back, especially if I hand her a pile (or wheelbarrow full) of freaking cards. And I'll bring a box of Kleenex too. She tends to get emotional sometimes.
Here's the address if you're interested in sending out a card or a letter saying something like "We Want You Back!":
Global Success Strategies
Attn: Lea
28170 Avenue Crocker
Suite 109
Valencia, CA 91355
Anyway, this year I decided to bring back Monica Bucks for the entire month of December. You'll have until Monday, January 5th to use them. If you're not sure what the hell that is, there are more details at http://www.monicamain.com/monica_bucks_2014. And yes, this applies to everything in my catalog.
Finally, I'll be running a kick-ass BOGO promo on my mentorship groups for most of this month. I have a slew of mentorship groups for the first half of 2015 and, I have to say, this is how some of my most successful students started out. These groups, as you know, are 100% online so there's nowhere to "show up" to.
I'm also bringing back the New Wealth Ninja Mentorship Group (at least once more) since this was the group that Gregg started off in. He's the one that is raking in about $85,000 a month on eBay with his Aggressive Income Business. And he started building this business during this particular group so it's definitely something worth looking into joining if that's the Aggressive Income direction you want to go in.
Here's the link on the deal: http://www.monicamain.com/buy_1_get_1_free_mentorship
Please note that this will be the mentorship group that will fill up the fastest and I'm limited to the number of students that I'll be taking in this group. This particular group starts on February 11th.
I also have my other highly successful 100% LTV Mentorship Group which starts on January 14th among many other groups that you can take that hand-holding period I offer to help you learn all this stuff for an incredible year coming up for you!I'm sooooooo excited for 2015. This is the year that a lot of you will see the economy "crack" wide open (in a good way). It's been happening slowly but surely since 2011 (which many of you haven't really seen the result of yet). Now you're going to see it go full force ahead and...if you have your sh** together with an Aggressive Income and/or Passive Income business going on then 2015 will your most prosperous year of this past 10-year "sucking wind" span we've had to deal with since the economy initially started tanking.
So click that seat belt of yours because if you line yourself up correctly, you're going to end up being a very rich guy or gal by this time next year. (Of course, if you never peel your ass off the couch then nothing but Judge Judy will be "happening" for you. If you're that lazy...good luck.)
Some more good stuff: I'm just starting up doing partnership deals with students again. I tapered off doing these types of deals with students since about 2010. I think my very last one-on-one partnership with a student was in 2011 if I recall correctly. Since then, all of my students have been partnering with my wealthy investor partners that I have sprinkled around the country. But many of you have been asking about direct partnerships with me and I'm starting to do those again...starting now. This month. I'll let you know more about the details of these deals soon so don't blow up my email inbox just yet.
I'm looking forward to 2015...and getting Lea back "maybe" after the first if the year.
Of course, you're going to help me with that, right? (Hint: Send a card or letter to the address listed above.)
I have a lot of students calling and asking about whether they'll be able to gain any access to the contacts from the Detroit seminar event.
The short answer: yes.
You'll be able to work directly with my buyer's agent who handles all of Michigan as well as Ohio and Indiana. His brokerage firm is so large that he can get you details and information on any property deal in the entire United States.
But, the best part, is that you'll also get access to our lender who does both conventional funding PLUS full equity partnerships where you won't have to put any money into a deal.
And, of course, you'll get the full details on the 100% LTV Bond Funding program including how you can participate in it.
The only thing you won't get (by not showing up to the event) is the ability to participate in the $9 million opportunity which, I would like to add, we've already had our first deal accepted by my Texan investor partner and it'll be going under contract this week. But...next time you'll be able to participate in the next opportunity. (There are always opportunities that come up.)
One final thing I'd like to say: the deal for the videos including direct access to the resources I've mentioned above ends tomorrow at 5pm Pacific Time.
Here's the link including an audio seminar: http://www.monicamain.com/detroit_seminar_videos_2014
If you have any questions, please call my office at 661-295-5050.
After sending out the email about the bond program earlier this week, I've been getting flooded with emails from students who, apparently, are "thrown" by the term "100% Bond Funding Program" and think it has to do with bonds.
The term "bond" isn't really what it is when it comes to this 100% LTV funding program. If you take the word "bond" out of it, you'll be less confused.
The way I understand this program to be is that the funds are raised through a variety of different investors and thrown in a "pot." This "pot" for the investors becomes some type of bond that they derive a financial benefit from (in the form of derivatives or drips). Just like anyone who would buy into a bond or mutual fund, you would gain (ideally) a financial benefit from your buy-in as the asset (or program) makes money.
This bond program runs much the same way.
But it doesn't really pertain to you what happens with the investors on the back end because you don't handle any of these responsibilities. The liaison (or the company providing this 100% LTV opportunity to real estate investors like you) deals with the intricacies of how their back end investors are paid.
You, the real estate investor, just has to find a rock solid cash flowing piece of real estate that exceeds the $1 million required price point...and that's about it.
Please note that when working the numbers on my CFE (and if you don't have it, you can download it at www.monicamain.com/cfe) for your piece of property, you'll have to do things a little differently.
The default is for an 80/20 deal (80% LTV conventional loan and 20% cash down) which is the standard in this business.
However, since you are getting the 100% LTV, you'll have to make this change in the "financing" section of the CFE (in the top 1/3 of the "cash flow evaluator" tab). Further, make sure you put the interest at 10% (even though that's probably higher than what you'll actually get) just to make sure your deal still cash flows when it's all said and done.
Finally, under the loan points section (above "financing") you'll see a line that says loan points. The tricky part of all this is that the points are rolled into the deal or the loan. So, you'll actually have to add the points somewhere else on the spreadsheet; the best way to do this is to "zero out" the loan points and ADD 10% to the purchase price of the property, since this is how it will look in reality. (Unless you're coming out of pocket with the loan points as you do in most cases, you can't add the loan points in the regular section of the CFE as you would do for other deals.)
Once you make these minor changes to the CFE, you should then see if you still have (1) a strong cash flow, (2) a DCR exceeding 1.2, and (3) ideally a CAP that is at least 8% or higher.
By the way, now wouldn't be the time to get into a deal that is severely under-managed or under-performing because the numbers just won't work out right. Never walk into a deal where you have no cash flow or, worse yet, a negative cash flow. With these higher interest percentages and a rolled in 10% on the loan points, you'll have to make sure you are looking at a property that has a high occupancy level (over 90%) to make this work.
Also, what you lose on the 10% in rolled-in loan fees, negotiate with the seller of the property to chisel that 10% off the asking price which you'll be able to do 99% of the time anyway. (Most sellers list their property for more than they know they can get due to every buyer wanting to negotiate lower: this is always how real estate has been. List higher, expect a lower sale price.)
For more information on how you can get in on this 100% LTV program, click on this link now: http://www.monicamain.com/detroit_seminar_videos_2014
Years ago I started sharing this story with my students around Thanksgiving about why I hate pumpkin pie; how my mom used to make pumpkin pies from scratch and she's make so many of them that she's force-feed the remaining balance (usually upwards of 6 or 7 pies) of what she couldn't give away to friends and family to both me and my brother.
And how, to this day, I absolutely refuse to eat pumpkin pie. In fact, I really don't likeany pie at all. My brother Jason also feels the same way.
Interestingly enough, my daughter had her first "Thanksgiving feast" at school where she got to eat pumpkin pie. She told me that it was so disgusting that she spit it out in a trash can.
And I laughed. I thought it was funny as hell. Could she have gotten the anti-pumpkin pie gene from me? (Nice thought, although I believe that would be considered scientifically impossible considering that my experience with pumpkin pie was entirely "environmental," if you know what I mean.)
I went on to say that the problem with the pie she ate was that it was store-bought. And the baked goods they sell in a store isn't nearly as good as the real thing. But I couldn't help myself in telling her my experience with real homemade pumpkin pie and why both me and her Uncle Jay refuse to eat any pie at all. She didn't say much other than to boldly state that she loves apple pie, as it's the greatest pie in the world, according to her.
It's interesting how life works, isn't it? I've come to understand so much about life in having a child's eyes to see the world through. And it's made me so grateful for all the good and even the challenges I face on a week-to-week basis.
If you think about it, no matter how hard things get, we really do have it good. At least that's the way I see it. So many people are sitting in war-torn countries, some are homeless, and some are even missing limbs.
We are blessed in so many ways and it's pretty easy to forget about all these daily miracles we get to reap. But maybe today, just once, we can see it for what it is and feel that deep sense of gratitude for everything we have and for everything we are.
If you're one of those people who actually believes you have nothing right now to be grateful for (hey, maybe it was a tough year for you) then at least feel grateful for whatcan manifest in your life in the months to come.
What a lot of people don't realize about me is that I don't care about any loss that may happen in my life (except for what's not replaceable). Why? Because I can create it again and again and again. I've taken a few major financial hits in my life. And with each time, I've gotten it all back plus some because I have the tools necessary to do it; these "tools" are nothing more than what I have stored in my brain.
When you're the goose that lays the golden egg and you know that you can create everything you want, it really does make a huge difference.
So, if this was a challenging year for you, be grateful for the amazing things that are coming up for you because you've done a few things that are pivotal in your life: (1) you've decided that you're not going to settle for less anymore, (2) you're going to get your ass out there and finally do this, and (3) you know that you can make this happen because you now have the tools to do this.
Last year I gave my students a tip on how to use the "holiday blitz" to remove some delinquencies off your credit reports. The students who used this strategy reported that they increased their personal credit FICOs anywhere from 38 to 81 FICO points just by using this strategy.
So, I'm going to up the ante this year.
I know, I know...sorry. You thought you were on the verge of enjoying a vacation, right?
Well, don't worry. This will actually only take you a few minutes of your time and it's only for those of you who desperately need to boost your personal credit FICO points.
It'll also cost you about $100 to do this because you'll be overnighting these letters via USPS Express (which costs $19.99 x 3 envelopes) and you'll need a current copy of your credit report (which you can get for $39.95 from www.Experian.com).
Click on this link to download the letters you'll be using: http://www.monicamain.com/credit_dispute_letters
But, the good news is that if you can get confirmation that all 3 credit bureaus (Transunion, Equifax, and Experian) received your dispute letter on Wednesday, November 26th (that's tomorrow), the 30-day clock immediately starts ticking.
And what happens then?
Most of their staff is either gone on vacation starting the lateral part of tomorrow through Monday. Those who are working aren't mentally "on the job" and are probably going to be pissed off that they're working when they believe they shouldn't be.
In case you don't know how imperative this 30-day period is (starting tomorrow), let's analyze this period.
Again, tomorrow is November 26th. Thirty days from now is Christmas Day. And nobody is there then either. In fact, during most of this next 30-day period, many of the credit bureau (and creditors including collection agencies, law offices handling collections, etc.) are taking loads of time off too.
Let me walk you through what happens when you file a dispute with the credit bureau. They receive your letter and have 30 days to investigate your dispute. During this investigation, they will send a letter to the creditors you are disputing and require that they send the appropriate documentation required to substantiate that the account(s) you are disputing is yours.
Except that during the "holiday blitz," many of these employees working for these companies aren't around, they're taking extra time off, and when they actually are working, their minds are elsewhere such as thinking about shopping, cooking, partying, etc.
And this is where your advantage comes in. If there is no response (or a late response) from any of these creditors or collection agencies, the delinquent account falls off your credit report.
Last year, because of a major hacking breach of security, the credit bureaus were blasted with disputes so they started using slick tactics to "buy time" in order to put off the 30-day time line. They would do things like sending letters back stating that they didn't believe the letter was a "valid claim" or that they needed "proof" of your identity such as a driver's license and utility bill.
So, here's what you're going to do (if you want to take advantage of this "holiday blitz"). You're going to download these letters that are in the Microsoft Word document format. There is one for each of the bureaus including their respective addresses at the top of each letter.
Next, get a copy of your credit report. If you received one recently (within the past 45 days or so) you can use that one. Otherwise, go to www.experian.com and download a new copy. Yes, it'll cost you $40. So what? You can also try some free services like www.creditkarma.com. You really don't need your FICO. You just need your delinquent or "negative/adverse" accounts.
Next, fill out each letter. Include your full name, current residential address, and your prior address if you've moved in the past 2 years. Include your Social Security Number and your date of birth.
The letters I've given you only has a section for one single disputed account. Copy the entire dispute section and keep pasting it underneath one right after the other for each account you will dispute. Put in the name of the creditor, the partial account number as shown on the credit report, and the dollar amount listed.
Remember, collection agency accounts (including those from a law office) will come off easier during this time than those from banks or very large lenders.
Print off your letters, SIGN the letter with a wet signature (use blue ink, if possible) then include a copy of your driver's license AND a utility bill of a major utility like the electric company or water company. Make sure the service address on the bill MATCHES the address where you currently reside. This will give them no excuse to kick out your dispute to buy themselves time.
Go to the post office and overnight Express each one in an Express envelope. You'll have tracking information for each one. And each bureau will receive this package tomorrow. This is when the 30-day clock will start.
What if you can't do all this by tomorrow? That's okay. You'll be working on doing this between now and throughout turkey day. If you need a little extra time, overnight express your packages out this Friday right after Thanksgiving or November 28th. The bureaus will receive your package on Saturday, November 29th. And yes, the 30-day clock starts ticking. This means the 30 days will end on December 27th...right after Christmas when people have, yet again, been off work and unable to respond.
Remember, the key element this year is to include a clear copy (preferably in color) of your driver's license and a major utility bill showing your current address. Include this set of copies with EACH letter you send out.
By following these instructions, you will make the greatest impact on boosting your personal FICO during this time over any other time of the year because of these holidays that create "stumbling blocks" for the bureaus and creditors to respond in time.
Finally, I should add one more valuable tidbit of information: Experian is the only bureau that will allow you to dispute your "hard" inquiries. So, on your Experian letter, mention that you are also disputing the following inquiries then list the name of the company that put the inquiry on your credit and the date of the inquiry. Doing this alone can boost your score 10 to 20 points alone with Experian. (The other bureaus won't remove hard inquiries but sometimes I ask them too anyway because you never know when they may change their policies.)
Again, here's where you can download these letter files so you can start getting to work right now: http://www.monicamain.com/credit_dispute_letters
See you at the top!
Your mentor,
Monica Main
www.MonicaMain.com
P.S. Don't want to fix your own credit? Our credit building service is now back after going on a "hiatus" from taking new students for almost a year. And yes, if you sign up now, we'll get your first set of disputes out during the "next wave" of the credit "holiday blitz" between Christmas and New Years. Here's a link with more information: http://www.monicamain.com/credit_building_service
P.P.S. Videos from the Detroit Underground Secret Event are selling like hotcakes. I also reveal some credit secrets during the event that will blow your mind. Here's more information: http://www.monicamain.com/detroit_seminar_videos_2014
Right now I'm in the midst of checking something out for myself, acting as my own "guinea pig" of sorts.
It seems that one of the hottest new ways of getting all the cash you need for investment real estate is in something called 144A Bond Funding.
And what this program does is nothing short of freaking amazing!
First of all, I should mention that getting 100% financing is considered the "Holy Grail" for real estate investing. Imagine never having to put in a single cent into a real estate deal yet reaping all of the cash flow profits. While I never thought this was possible before, I now know that it's possible through this very unique Bond Funding program.
Let me give you some of the highlights to this program that will blow your mind:
100% LTV
No personal guarantee
No credit checks
No asset verification (AKA no needing "financials")
No loss of equity in your business
Closing timeline: 90 to 120 days
Flexible repayment terms
And as long as you have a "stabilized" and strong cash flowing real estate property to invest in, you can use this Bond Funding program.
Now, before...you had to find a property that was $10 million or higher. Even worse, you had to show cash liquid in your bank account of 1% to 2% of that amount. That means your lowest end deal would have required you to show cash of $100,000 to $200,000. You would have been able to get something called a VOD (or verification of deposit) for this cash, even showing that the money belongs to you. However, VODs cost money and sometimes they're not cheap.
I never wanted to use the Bond Funding program because of this $10 million or higher threshold only because my deals are usually $3 million and under. So, I didn't feel that I had use for the program. That is...until now!
With this new change in the Bond Funding program, they will do deals as low as $1 million. Yaaahhhhh! That's what I've been waiting for! And to participate in the program, you have to show 1% to 2% liquid or, for a $1 million deal, that's only $10,000 to $20,000 in a bank account. (Again, you an buy a VOD which would be only a few hundred bucks or more to do for this much lower amount.)
Now, you don't have to put this 1% to 2% into escrow to close. They just need to see that you have this liquid.
Note: the points are high -- around 10 which accounts for 10% of the property purchase price. So, you're million-dollar property would have $100,000 in loan points. But this is rolled into your loan so NO POINTS UP FRONT! Whooooooo!!!
Finally: this is a fully amortized 30-year loan term (not interest-only unless you're doing construction). Yes, the interest will be higher than a conventional loan, somewhere between 5% and 10%...but who gives a crap?! You're getting a million-dollar (or more) apartment building (or other real estate) for NOTHING!
What's the catch? None that I can tell. But I'm just starting through the process right now. It seems that the way this program works is that they raise capital through a variety of different investors and corporations. They abide by all the Regulation D (SEC) nonsense while you derive the direct benefit from the program without any of the hassle.
How do they make their money?
Loan points (rolled into the loan) and the heavy-duty interest while YOU manage the asset (thus continuing to make them loads of cash for raising the initial capital for you).
Pretty freaking great deal, isn't it??
I have to be honest: I've never seen ANYTHING this incredibly freaking fantastic when it comes to getting money for cash flowing real estate where you DON'T have to share ANY of the equity or cash flow with someone else. You get all the profits/proceeds...but you're paying a higher interest rate.
Oh, wait. One more thing. The loan is -- ready for this?? -- NON-RECOURSE!! This means that you take NO personal responsibility for it and it doesn't show up on your personal credit report.
Double WHOOOOOOOO!!!!
So, how do you find out more about this Bond Program and how to take advantage of it?
Most of you know that I'm in a graduate degree program for an MFA in creative writing. Initially I was going to do the UCLA certificate program but then decided to go for the gusto and actually get a paper degree to hang on my wall.
So, here I am. This is the first "semester" of a total of seven and I got into this major argument on the phone the other day with the administrator of the program.
Let's just say that there are 2 things that occurred:
1) I don't put up with any "professional" who, well...isn't professional -- especially when it comes to writing. (Any "writer" that can't use spell check with today's high-tech one-touch-button software or is grammatically incorrect yet is a professor at a major university will beouted by me in 3 seconds flat. And no, in case you haven't figured it out, I'm not an ass-kisser, brown-noser like all the other students are.)
2) I don't need this degree for anything. In fact, right now it's turning into a joke as far as why I'm even in this program to begin with. I wanted to challenge myself but not by rocking the boat or bucking the system due to obvious inadequacies with their program. If I wanted a fight, I'd pick up the phone and argue with the IRS about how dodgy their rules and regulations are but...I'll skip that fight for now. You have to pick your battles wisely, you know.
I think part of the problem here is that I've been in "left-brain-mode" for so long that I can't click over the the right brain where I creativity lies. Or used to lie. I've been so real estate geared lately that I forgot what the definition of fiction is anymore.
So, the administrator of the program gets me on the phone the other night and immediately says, "You'll either respect the professors in this program or I'll kick you out of the program."
Not even a fraction of a second passed by before I replied, "Go ahead and kick me out."
I could hear how stunned he was by the response due the lack of his immediate response while as dead air dominated the other end of the phone for seemingly forever.
I love calling people's bluff because what these "creative types" especially don't understand is that I've been in the business world long enough that (1) I can read people like a book, (2) I won't be threatened under any circumstance, and (3) I simply don't give a shit about much of anything these days anymore.
Put someone -- anyone -- who is in a position of having nothing to lose while, at the same time, they just don't give a damn and see what type of result you'll get...especially when you call them on the phone to start yelling at them.
Furthermore, yelling at anyone on the phone usually gets you exactly nowhere. Neither do threats. Again, this is something that someone who isn't part of the business world would never understand.
And what gives me this arrogant attitude that I have?
I'm not sure it's arrogant. Okay, maybe it's "part" arrogance due to the fact that I don't need a shitty piece of paper to hang on my wall (that I'll have to pay a total of $45,000 for by the time everything is said and done) to make a million dollars a year, which is about what I make now. I make more a year than all those professors in this graduate program combined.
The other "part" comes from having an incredibly short fuse for dealing with bullshit due to the nature of my business and what I've been through in my life to this point. Apparently this university administrator is used to people quivering in their boots at the notion of being thrown out of school. Meanwhile I'm daring him to throw me out so I can save myself at least 40 grand that I would otherwise have to shell out to complete this program.
So, right now I'm sitting on the fence as far as the program goes. By the end of the conversation, it was completely different than how it started. It went from him wanting to throw me out to him trying to convince me to stay in. (I love turning the tables on people and making them think it was their idea all along.)
I need the program just to keep me more balanced. (Remember the left-brain right-brain thing I was just talking about?) Doing something creative keeps me balanced and energized so I don't completely derail or go all gangsta on somebody, possibly committing a completely avoidable homicide. (Yes, I get that pissed off sometimes. Dangerous, I know, especially when I'm behind the wheel.) The creativity helps me balance all this anger out.
As it stands now, I didn't get kicked out of school as much as I begged him to throw me out of the graduate program. What I absolutely love is having that sense of power whereas I don't need school or a shitty degree or any university administrator controlling my destiny.
Because I control my own destiny. I always have.
And so do you.
I write my own checks in life. I make as much money as I want. And everything I do outside of my businesses is just an "elective," if you will.
The other day I was watching some crap on TV and somebody was doing an interview of this couple who lost their home, cars, and everything else because the guy lost his "secure" job and couldn't find employment elsewhere. I found myself talking to the TV saying..."There's nothing more insecure than allowing somebody else to control YOUR destiny and YOUR life. Who ever told you that working for somebody else was secure, sucker? Maybe it's time you took the bull by the horns and started writing out your OWN paychecks. Start your own business, fool. Do something for yourself instead of whining on TV like a little girl."
There were some other choice words used but...I have to start hitting the "censor" button a little more these days, as my swear jar doesn't have any more room in it.
So, maybe I'm rough around the edges, not "polished," and a little too real. But I can show you how to write that check for yourself for whatever amount you want to make. Guaranteed.
And then nobody will ever be able to run over you again because the world -- YOUR world -- will remain firmly at the palm of your hand at ALL times.
