Thursday, July 10, 2008

What's wrong with this picture?

What's wrong with this picture?

Corvet

I took this picture from my car. Look closely and see if you can figure out what's wrong with this picture. And no - Waldo isn't hiding behind the a tree.

Do you see the Corvette parked at the mobile home?

I know I'm going to get emails from this post...

To be clear, I'm not suggesting that mobile homes are bad. They actually make fantastic investments. I own around 15 mobile home investments. Each mobile home pays me an average of $250 a month in cash flow. I'm also not suggesting that Corvettes are bad either. I'm simply suggesting that maybe someone has their priorities a little backwards.

You can't tell from the picture, but the Corvette has a tarp draped across the car. This tells me that the person living in the mobile home values the Corvette at a high level. Why do people without any money value "things" or "stuff" so much?

I know this firsthand because my father spent most of his time and money buying old cars. He planned to sell these cars in retirement. He spent every evening and weekend looking for, negotiating and buying old cars. At one point he had accumulated over 100 cars. The problem is he never was able to follow through on his plan. He actually had to pay someone to remove the rusted old junkers from his property because the city was threatening him.

My father focused his time and attention on depreciating assets. Even worse, these cars (assets) didn't provide any monthly cash-flow. He spent thousands of hours and hundreds of thousands of dollars on cars and never made any real money. Why????

Because he didn't know any better...

He didn't read any books on investing. He didn't take the time to study different investments. Imagine where my father would be today if he had acquired 100 homes. I'd bet he would have become our Income for Life Member of the year - several years in a row.

Today, my father is forced to live in Ohio. He really wants to live in Tennessee where he was raised. He is unable to move to Tennessee because his medical insurance doesn't have any "IN" Network providers in Tennessee. This simply means he can't afford to move. In other words, he is trapped because he doesn't have enough money. He wouldn't be trapped today had he taken the time to study different investments. He wouldn't be trapped today had he taken the time to read a few books on wealth building. He wouldn't be trapped today had he invested into assets that paid him each and every month.

I wonder how many other people are trapped today because they didn't take the time to educate themselves on investments that provide monthly cash-flow?

The person owning this Corvette could sell this car and use the money to invest into TWO mobile home investments that would pay them $250 to $300 a month in positive cash flow each. This income stream would continue for 5 to 6 years. This car could be turned into a monthly income of $500 to $600 a month. This would all be possible if they took the time to study and learn how to invest.

Rob Minton

P.S. I have written a little guide on how to create monthly cash-flow from used mobile homes. This guide is included in the Income for Life New Member Kit. To apply for membership in Income for Life, click here!