Summary of Michael Blank's Financial Freedom with Real Estate Investing
Please note: This is a companion version & not the original book.
Sample Book Insights:
#1 I was fucked. But something happened that made me rethink my life choices. I'm not sure if it was divine intervention, but three weeks after the $10,000-a-month loss, I got a call from a woman who wanted to invest in my business. This would have been a perfect opportunity to rebuild the business's capital base and save the day, but that woman wasn't interested in investing a measly $50,000 into my business. No, she wanted $500,000. I had no idea what to do. The business was already on the brink of failure and now I was being asked for another $500,000. How did I have any money left for a rainy day. I didn't have $500,000. My wife and I had just bought a house, and I had borrowed all the money from her father for this. And he wasn't much of an angel investor-he was an engineer who had made millions investing in the dot-com bubble. He knew how to play the market, but he didn't know basic business fundamentals like cash flow. Why did he think that giving me more money would help me now.
#2 I got a call from a woman who wanted to invest in my business. I was asked for $500,000. I had no idea how I was going to pay that back. My wife and I just bought a house, and I borrowed all the money from her father for this.
#3 I invested $10,000 in a business that eventually asked for $500,000, then lost almost everything when the recession hit. I eventually sold all of my properties for a loss, but at least I learned a lot about real estate investing.
#4 In 2007, I invested $10,000 in a business that eventually asked for $500,000, then lost almost everything when the recession hit. I eventually sold all of my properties for a loss, but at least I learned a lot about real estate investing.
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Sample Book Insights:
#1 I was fucked. But something happened that made me rethink my life choices. I'm not sure if it was divine intervention, but three weeks after the $10,000-a-month loss, I got a call from a woman who wanted to invest in my business. This would have been a perfect opportunity to rebuild the business's capital base and save the day, but that woman wasn't interested in investing a measly $50,000 into my business. No, she wanted $500,000. I had no idea what to do. The business was already on the brink of failure and now I was being asked for another $500,000. How did I have any money left for a rainy day. I didn't have $500,000. My wife and I had just bought a house, and I had borrowed all the money from her father for this. And he wasn't much of an angel investor-he was an engineer who had made millions investing in the dot-com bubble. He knew how to play the market, but he didn't know basic business fundamentals like cash flow. Why did he think that giving me more money would help me now.
#2 I got a call from a woman who wanted to invest in my business. I was asked for $500,000. I had no idea how I was going to pay that back. My wife and I just bought a house, and I borrowed all the money from her father for this.
#3 I invested $10,000 in a business that eventually asked for $500,000, then lost almost everything when the recession hit. I eventually sold all of my properties for a loss, but at least I learned a lot about real estate investing.
#4 In 2007, I invested $10,000 in a business that eventually asked for $500,000, then lost almost everything when the recession hit. I eventually sold all of my properties for a loss, but at least I learned a lot about real estate investing.
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