Bernard Zick's                                                                         

REIT REAL ESTATE REPORT                         

February 2004

The REIT Real Estate Report is published about once a month. It is intended to serve no special or worthwhile purpose.  It is just my way of telling you what is going on in the world of real estate education.  My only goal is that I don't get sued and you are entertained a bit.  For an e-newsletter of merit, our next issue of Advice for the Impatient Investor will be out the first week of March.

Editors: Bernard "Barney" Zick bernard@zick.com, Karen Zick and Amy McIntee

This email was sent to you by REIT, Corp. To ensure delivery to your inbox (not bulk or junk folders), please add bernard2--9168385@autocontactor.com to your address book.

On a Boat

Picking Which Speaker To Follow And Learn To Invest With is Like Picking A Wife

Greed Will Get You!

How Long do You Plan on Living?

A Success Story

It is Out to Get You!

Best One Yet

Upcoming Events

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I guess you Navy guys realize I was not in the Navy…this boat is 11 stories tall, the Carnival Legend. There are 450 real estate investors from 38 states and 50 different real estate investor groups at the NaREIA sponsored eight day cruise. There are about a dozen speakers and we speak, do workshops, and visit three warm places in the middle of winter! Karen enjoys cruises, so I said “yes.” Besides, I need the rest…at least I thought I would get a chance to rest!

One thing I’ve come to realize…the beginning investors concentrate on buying real estate. Seasoned investors concentrate on finding out about the seller’s problems and looking for solutions. Interesting…

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They tell us when picking a mate that we usually either find someone that makes us feel comfortable or one that has many of the traits that we wished we had.  This is a very simple version of the truth, but I am not going into marriage partner selection here…for that I suggest you read “Getting the Love You Want: A Guide for Couples” by Harville Hendrix.  Good book.

Anyway, I find many of the people that follow my advice are creative thinkers, like being liked, enjoy communicating, love a challenge, etc.  My old friend and student Louis Brown attracts people that want every detail laid out for them and fear making a mistake…they seek perfection.  You see what I mean?

Then why the success of another student of mine, Ron LeGrand?  (Remember my rule -- if you bought my books and tapes once and became a success, you will be called my student for life…no matter who else taught you!)  He is rough with people, sometimes even rude.  Well, that is the “I need to be more like that guy” approach.  Maybe there could be a Doctoral Thesis here for someone.

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We recently had a student call and tell us of these fabulous returns she could get on deals in Florida.  I did all I could to check it out for her but it just did not seem right…it did not pass the smell test.  Too high a return for no effort.  Too many corners cut.  “We can get you a nothing down investor’s loan by the way we make up the paper work.”  I think that is called FRAUD.

Well this San Francisco lady called me three times to get my blessing.  No luck.  She then talked to Karen for a couple of hours.  Finally Karen said, “You don’t want to take my advice.  You just want me to tell you it is okay for you to do what you have already decided to do!”  (You have to push Karen a lot to get her to level with you…she is usually overly polite…but I agreed with her!

Well, on this boat I met a private eye that is working the case.  He is doing what he can to keep the basket full of money from being lost.  And there will be people who will lose their real estate licenses, and maybe a lot worse.

Why is it so?  Reasonable people will talk to me, and I tell them I can get them a good deal that breaks even with very little down…and it will be below market.  They say “no” and then go off to someone that promises 25% return every three months and lose it all.  Greed.  It will get you every time.

Remember what Granny said, “If it sounds too good to be true, it probably is!”

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This is really a big question.  To tell you the truth, if I KNEW I was going to be gone in a few years, I would be living my life differently.  For one thing, I have more than enough to live like a king for a short stay here on earth, but if I am going to be one of those on TV that Willard says happy birthday to, and, add to that, if I want to leave seven figures, not just six, to all six of my kids, best I work some more.

Mind you, I think I have a fair view of this.  I almost died more than once in accidents and was given six months to live seven years ago.  I did not like the doctor’s conclusion so I asked the parking lot attendant at the hospital how long he would guess I have to live.  He said 50 years, so based on that expert opinion, I have 43 more to go.  (The Doctor did say I was welcome to get a second opinion!)

But we forget.  Ernie forgot.  I asked him one time why a guy with bi-pass surgery was eating so many deserts.  He said, the first year it was no dessert.  The second year it was one a month, then one a week, then one a day.  How convenient our memory.  We have this great mental system that helps us forget pain, even if it was sent to give us a message!

So what is the solution?  I really don’t know.  Right now I know I am working too hard but I see a light at the end of this tunnel…about in June.  But I also know that I really enjoy my work and I think that is one of the secrets.  If you quit now, you may live too long!  So keep working, but only do work that is fun.  Jack Miller used to say he wanted an ELF deal.  Easy, Lucrative and Fun.

I invest and I work with students.  I love both.  We have, I hope, three closings this month.  The shopping center is one of them.  We have millions in loans in the pipe line.  Life is good financially, but all the success would be no fun if I had not enjoyed doing the deals.

So my fellow internet journeyers, if you are not sure when you are going to die, best you have fun making your living.  If you live long, you had fun and you’ll have lots of money from your investing.  If you drop off the radar too soon, at least the trip was a good way to spend the time.  Enough said.  (P.S. While you are reading this I am in the Caribbean on an eight day cruise…time for some balance, right?)

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We always enjoy hearing from our students who are achieving their goals using our techniques.  If you have a story to share, just send the details in an email to newsletter@zick.com with "success story" in the subject line. 

Go to http://www.zick.com/helpfullinks/testimonials.shtml for more information.

Thanks for the tips (in your recent e-newsletter).  It came just in time.  The "Due on Sale" clause information was helpful.  The Barclay Bros are on fire and we keep sending people to your boot camps!

Barclay Bros.

Seattle, WA

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Okay, I should know better.  I WAS backing up my computer with an internet system once every few days.  The charges seemed to get out of hand so I stopped it without getting a replacement system.  When XP Pro started acting up, we backed up the computer and cleaned off the hard drive and put everything back on.  You guessed it.  The tech that did it missed all the really important files so all I had were my November back ups.

Lesson learned – Back up.  Period.

These viruses are driving me crazy.  I hope the guy that is doing it lives in Singapore.  They cut a person no slack there.  They fine you for the little stuff like spitting gum on the street!

Norton AntiVirus, my experts tell me, is the best and it is cheap.  You may find out it locks up your email now and then, if you use Outlook or Outlook Express.  These experts also say, take Norton AntiVirus off and put it back on when this happens.  Don’t know why it works, but it does.  But there is a run of nasty new viruses and if you don’t have Norton AntiVirus, or something as effective, you are 90% likely to have a virus now.  Get it; it is not expensive.

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We had between 650 and 750 people at a recent event.  Very responsive and I enjoyed helping them.  I think the Realty Investment Club of Houston is the best run group in the nation.  I have spoken there 12 times.

A few big clubs treat you like you are an unwanted visitor (not Jane Garvey – who is a princess) and tend to gum things up at the worst moment.  The RICH Club never does.  My hat is off to its President, Randy Steadham and the 60 or so volunteers he has assembled.  What a blast!

Michael Morrongiello has a great medium-sized club in Marin County.  Alan Langston has one in Phoenix…and it is getting big.  If you don’t know where, or even if, there is a group near you, check out our list at http://www.zick.com/groupslistaccess.shtml.  And, if you don’t see your group there, please let us know and we’ll add it right away.

I am taking most of February off.  If you are a Gold Plus student and need help, I have made arrangements to handle your requests for assistance and will be checking email every few days.  We are limiting consulting and coaching help to just a few folks from March forward.  If you’ve already signed up for it, be glad, because it is disappearing.  You do need to use your six months of consulting up in 2004 or it will expire.  

Oh, you know me…I will always try to help, but it will be harder to reach me.  Our Platinum students will have access to me.  If you like the Platinum program which we’ve described to you before in this e-newsletter, best sign up by February 29th, by the end of this month.  We are re-vamping all our programs from March 2004 forward to accommodate the new batch of students we met in 2003 and those we need to work with that have come along from previous years.

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Don’t miss our two events just around the corner in LA and Orange County.  Go to http://www.zick.com/sem_REF.shtml for all of the details.  Join us in Los Angeles on Saturday, February 21st or Anaheim on Sunday, February 22nd for our Real Estate Financing One-Day Seminar.  Call 800-677-3253 TODAY to reserve your seat!

March – Bay Area Run

We plan on four one-day events in the San Francisco area in March, testing out a new program with a two-day Options Boot Camp the third weekend of March. Watch our web site for more information, and if you are really interested send us an email now at reitbootcamp@kingwoodcable.net. We will put you on our alert list. Our west coast associates are booking the hotel now.

The third weekend in April we will do a two-day Options Boot Camp in LA or Orange County. Keep watching www.zick.com for more details.

The Fine Print...

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We will publish the REIT Real Estate Report, containing Real Estate Education Industry News and a lot of personal opinions, and Advice for the Impatient Investor, approximately once a month.  (However, keep in mind, our newsletters are free so don't get upset if we skip one occasionally!)

Advice for the Impatient Investor has been published for fourteen years (but, not in a row).

Folks smarter than us told us to say: We take no responsibility for the accuracy of the postings.  All contents of the postings are the responsibility of the posting party.  The foregoing material is strictly for informational purposes only and does not provide legal, financial, accounting or investing advice or services. Use of any of the foregoing information does not create a client relationship.  You should not act on the information provided without seeking legal, accounting and tax counsel of your choice.

We reserve the right to terminate the subscription of anyone at any time.

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Copyright © 2004 by Real Estate Investors Training Corporation, Kingwood, TX

ISSN # 0272-8559

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