Both in business and the world of investments, timing is an important issue. Do I buy or sell this share today or tomorrow? Should I close this deal now, or hold off for a higher or lower price tomorrow? While I can’t give you the answers to these questions, one timing question I can confidently answer is that of the correct timing for accessing money.
I am often asked the question, “When is the best time to access money?”.
The first goal of the entrepreneur is to create some sort of product with that time, so that he or she can trade the product for cash rather than trading his or her time for it. Whether that product is a physical commodity, intellectual property, living space or the hired services of employees, the entrepreneur can substitute the commodity for his or her own time, freeing it up to be used in other ways (including the creation of new products).
Why is now the best time? Well, one of the reasons is that banks and other lenders are very good at sensing desperation. If you come across as being very desperate, then you’re either very likely not to get that line of credit, or get it, but as a very unfavorable rate. If you don’t need access to the money now, you will likely find yourself more successful in your request.
Because we intend to purchase more than one investment property, we realize that we’ll have to find another way to buy properties other than getting a conventional mortgage. Now I’ve been to various real estate trainings for different methods of purchasing real estate. I’ve taken trainings from different experts on short sales, subject to deals, foreclosures, etc. But I haven’t actually purchased a deal using any of these methods. Most of them, except for purchasing property “subject to,” require that you have some cash, which I won’t have after we close on this property. So my focus now is to purchase investment property without using my own cash and without bringing in other investors.
Current models for such entrepreneurship can be found in everything from writing a bestseller to online marketing strategies and IBO’s where the duplication of content, advertising and services can bring in many customers at once without requiring the individual attention of the producer.
Far too many of us struggle to get ahead by trading away our lives for money, but the entrepreneurs are those who have realized that they would do better to find a surrogate to offer up for sacrifice instead of their lives, one hour at a time.
Resource Author Francisco R. Higueras
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