At least that’s the way I look at it. My purpose for making money through foreclosed property investing is not really just about having lots of money or getting rich, its about having the freedom to do the things that are truly most important in life, without worrying about where to get money to provide for my family.
Don’t let life pass you by while “working hard”
As I write this, I have a four year old son who is growing rapidly right before my eyes and I would rather be a father that is always there for him, than one who is always working hard in an office somewhere, confined to having weekends and short vacations as free time to spend with my family.
I tell you, spending the best years of your life “working hard” is not worth it when you realize that life is really passing you by.
Why I want to be financially free
The past decade in the corporate world has made me realize this, where earning a “living” is actually causing too much stress that is literally killing me softly.
This is the reason why a little more than 2 years ago, just after I was diagnosed with hypertension, I made a decision that I will get out of the so called rat-race as soon as possible and achieve financial freedom.
The goal is to have more than enough money in the form of passive income to sustain us without the need for a job.
I would rather have money and happiness
Money may not be everything but money absolutely affects everything that we hold dear in life!
I often hear people say that money is not important as they believe that happiness and family is more important.
But if you think about it, how the heck can you be happy if you don’t have the money to feed your family?!
I would rather have both, money and happiness!
Live life to the fullest now!
Life is short and I want to make the most of my life by living life to the fullest now, while I am at the prime of my life, not when I am sixty or sixty five years old.
The naysayers would often say that what I’m saying is impossible and we have no choice but to work hard, guess what, these words often become a self fulfilling prophecy.
I for one know for a fact that it can be done because I am doing it right now, which is what I am sharing to all of you through this blog about foreclosed real estate investing.
There is no need to defer life and happiness
Happiness does not have to be deferred. It just takes courage to act.
More than a year ago I gave myself a deadline and said to myself that I shall have financial freedom before my 40th birthday. Guess what, I am turning 40 this December 2009.
So far I am on track with my goals, I have already closed one deal for 2009, thank God!!! One down, three more to go! Makes me look forward to what lies ahead and it gives the saying “Life begins at 40” a whole new meaning for me!
I would love to share a lot more “emotional why’s”, a term I borrowed from Bo Sanchez that refers to the big enough reasons why we would want to succeed in an endeavor, but I guess I will probably have to do so in another post in the future, I seem to get too emotional just thinking about them.
How about you, why are you into foreclosure investing? Are you in it just for the money? If not, care to share?
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great blog..keep it up! so inspirational!
Hi Jay,
Like many others, I am inspired by your website and the things that you do. I have this desire deep inside me to get into real estate business by looking into foreclosed properties since this as i’ve heard is a very good starting point. I however also am a passionate public servant working as a government employee in a very remote town in an obscure province here in the far north. Given that, I’d like to seek your advice if you think it is viable for me to enter into this kind of endeaver given my situation that mostly i live in a mostly agricultural area where a booming real estate business has yet to see the light of day.
Way to go Jay! You, along with Robert Kiyosaki and others, have inspired me to get into real estate investing. I have not started the journey yet, but am making the preparations.
I want to learn more about legal terms that seemed really important and potentially hazardous if you dont know what it means.
Keep up your information-rich website!
Jeff
Hi Jeff, thanks a lot and I wish you good luck! Yes, don’t forget to get ready. Whether you are a “ready-aim-fire” or “ready-fire-aim” type of person, you still need to get ready! Cheers!
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Thanks for reposting this coach! Money by itself alone, can only motivate us for a while, but not forever. Money should only be a representation of “something greater” to make it an enduring motivator that will drive us to reach our goals, and that “something greater” are our “emotional whys”.
You’re welcome Len! Your comment reminds me of one of Bo’s talks at the PICC Feast. 🙂
Thank you also and God Bless!
Hi Jay,
Thank you for all of your entries. I agree with the previous comments that you are indeed a blessing to the readers especially those interested with financial freedom and investing with foreclosed properties.
I’ve read Rich Dad, Poor Dad and Think Rich Pinoy several years ago and I can say that both books were liberating and encouraging but you can say that I got kind of scared.
Now, I am trying to start again by building foundation through information for now. You might have been asked this question (sorry if I missed it) but is there a team that I can join/mentor that I can meet regarding these things.
My goal/dream is also financial freedom before my 35th year and to help other people by being a blessing as well. 🙂
Thanks again and God bless to you and your family.
Invest in Philippines foreclosed real estate and earn money NOW! call Ms. Junica at 0926-6972941
and real estate i think my first vehicle to financial freedom
Sometime in my life i stop to search for purpose of being. I consider religious life and discerned for priesthood but i feel its not God’s purpose for me. My “emotional why” is to become wealthy so that i can help other people to have better lives. I think this is my purpose and committed to pursue for the rest of my life. And this is where i am fulfilled. :))
and also those properties that we bought was pure impulse kc nga limited lang ung knowledge namin regarding real estate and still we dont know yet how to find good properties. pero sa tingin ko okay naman ung mga properties hindi ko lang alam if those properties are marketable. hehehe mejo marami pa kami dapat malaman regarding real estate investing eh. hope you can help us. and also thanks for the blogs.
sana marami ka pang matulungan.!
hi rjay, congrats, at least you and your girlfriend took action and you now have a lot of investment properties, you just need to take steps to turn them into either income generating properties or dispose them and use the proceeds to acquire income generating assets. I believe you should hook up with someone who is an expert with tax foreclosed properties… ehem.. calling Jun T.!
about two years ago me and my girlfriend invest in a forclosed property somewhere in tagaytay; less than a year later we bought anoher 2 lots also in tagaytay from a forclosed property. on the first quarter of last year we bought another 6 properties in a public auction in quezon city. but due to limited knowlege regarding real estate. those properties we bought are still on the process of title transfer for our name. i want to turn those properties when transferred to our name into passive income as to what you were saying but i have no idea how. and also its difficult to process papers concerning the said properties.
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Hi Mr. Jay..I am also one of those people inspired by Bo and through his blogs lead me to many informations that is awakening my mind and my spirit to seek more informations to gain financial freedom..just like anyone else I want to have more time to my growing son and have the peace of mind that i can take some rest when i grow old.please add me up to those people seeking help and advice from you so me too can have more informations in real estate investing
Hi Jay;
Im browsing thru all your blogs about financial freedom. I want to start by 2010 right by inspring myself back. All the partying over the holidays has put my quest for financial freedom on the backseat.
As in my previous posts, I hope to meet you personally this 2010 as well as other people who share the same mindset as ours.
Thanks and continue inspiring those who want to maximize their potential
Benny Benitez
Hi Sir Jay,
Am a new visitor here in your very informative blog and very much interested in foreclosure property investing but I think you will need a large amount of money to start with.
Anyway, I’ll continue reading here and hopefully I can start investing as soon as possible.
Cheers to our financial freedom!
Hi Dakuikoi, just like I often mention, you will need only a small fraction of the price of the property that you would want to invest in(usually 10%-20%). And if you decide to start small, which I highly advice, that would mean you will need just a small amount of capital. Yes, please continue reading and start practicing analyzing properties to see if they are good deals. You need to analyze at least a hundred properties before you can find that one best deal. Even if you are still saving for the capital, just keep on analyzing and you will acquire the skill of finding good deals. When you are ready, you will most probably have the money to start investing. Goodluck and I wish you financial freedom!
Thanks Sir Jay.
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Hey..you may want to join the mission of Mr. Trace Trajano!
he will be giving away free cd’s..1,000 peices …..I think…How to do your first deal..it’s free.. and I know that Sir. Jay highly recommend it…
http://www.buyfirstdeal.com
thanks
Red
Hi Red,
Ang bilis mo talaga! Let’s keep on inviting so that all can receive a copy of the CD’s. Thanks!
Great info about financial freedom.
hi Jay.
I would like to congratulate and thank you for having a site that is filled with USEFUL information especially for someone like me who is seriously considering getting into the real estate business. I came across your site while doing my little research on foreclosed properties in the Philippines. but prior to that, I have been seeing your name and pics in Trace Trajano’s website. (Yes, Im an avid follower too. Being mentored by him is still on my wishlist. that’s why I envy you! hehe). I believe it is no coincidence that I found your site. I believe that when we truly desire something, we are attracting people and circumstances who can help us come closer to that dream. and since I have a truly zero knowledge about this venture that I would like to embark on, I will need all the help that I can get from experts like you. This site will truly serve that purpose. thanks again and more success to you. God bless.
Hi Dream Big, you’re welcome and thanks for the compliment! I’m real glad you’ve found the info here useful, always glad to share and help anyway I can. As I have said often in the past. Lots of people have helped me and I believe it’s just right for me to do the same and pay it forward. Haha, Trace can also be you’re mentor, just subscribe to his mailing list and join the webinars. 😉
Hey, we all started from zero knowledge so I’m sure that won’t be a problem to you and all of us here would be more than glad to help. Thank you also for visiting and may God bless you and your family!
I have this quote from Preston Ely – one of the mentors of Trace
“The battle is not for sex, money, power and fame. Only weak -minded soulless parasites live for such superficial trivialities. But for the true warriors of this world; for the people whom men, women and children respect and adore; for those whom life depends on for any sense of strength, integrity and security whatsoever.. The real battle…is for FREEDOM”
Nice one Red! I also follow Preston Ely and I also bought his ebook on wholesaling. However i still have yet to start finding wholesale deals.
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HI JAY…
i’ve been reading books about real estate and of course the famous robert kyosaki’s books..
I was just wondering, im having a hard time finding the right property for me to buy and sell since im working abroad. Im a flight attendant.
It was 4 years ago, when i decided to work abroad, to save up and do real estate business. But in the long run, i realize it wasnt easy. I cant do it when im faraway.
what do u suggest for me to be able to do it? get out from the rat race. have passive income through real estate.
I already had my mutual funds and did stocks as well. But im really into this real estate, but havent buy one yet. I attended the auction bidding long time ago when i really wanted to expose myself on it. But no money that time. Now that i have funds, I dont know how to start.
Thanks for the help in advance.:) GOd bless u.
Hi Elle, I suppose you need someone here to do the legwork for you, like a sibling or trusted relative. Real estate is really hands-on, especially at the start, unless you find an industrial partner who does most of the work and you are like a passive investor.
You also need to focus on a niche, an area which you can master, so that you can easily spot good deals. Usually the best place to start is right where we live. Since you are a flight attendant, you still get to go home, so it is less complicated, as compared to OFW’s, who really are away from home most of the time.
Hello Jay,
Sa wakas, nakahanap rin ako ng site/blog dedicated to foreclosed property here in Philippines. 😀
But first let me introduce my self. I am a 34 year old computer programmer in ortigas. About a little bit more than a year ago I have promised to my self that I will be out of the rat race as soon as possible. I made this promise since I have read Robert Kiyosakis “Rich Dad,Poor Dad”, and I have read all of his book since then. Nakapag basa rin ako ng local books such as Think Rich Pinoy.
As of now, I am almost already to rent out my very first small property. A small condo unit near SM Fairview.
I am now going to start reading ALL your post here. 🙂
Thank you for sharing your real estate experiences here. I hope to meet you soon.
-Gio Paredes
Hi Gio,
Nice to meet you here! Wow, I wish you only the best for your first investment property! I also hope to meet you and the rest of the readers soon. Thanks for taking time to read my posts and do feel free to let me know if you have any comments/suggestions/or any feedback. Enjoy your stay!
Hi Jay,
Thanks for sharing your thoughts and experiences. My family and I moved to Davao and we are currently renting a place. I was looking for a foreclosed property listings and chanced upon your blog. The information is overwhelming especially the 31 Qs to ask for foreclosed properties. It will help me a lot.
You should write your own book sometime… Let me know… I will buy a copy…. 🙂
Again, thanks!
Hi Shatel,
You’re welcome and I wish you all the best in getting you’re property. Thanks for the encouraging words about writing my own book. Yes, this is in the pipeline and I’m glad to know that I already have one customer. =)
Thanks!
Hi Jay,
I’ve been a lurker in your site for some time now trying to scout information and suggestions in dealing real estate. So far, i have read Robert K’s book all 1st three of them but i still have some doubts in myself if i can make it too. I hope you can share your 1st deal experience. Hope to read more from you Jay. Thanks and keep posting.
Hi Myke, thanks finally getting out of “lurker” mode. =)
Anyway, having doubts is okay as all of us have this and this really helps by keeping us on our toes. If you are referring to my very first attempt, I have actually posted it yesterday and you can read it here: https://www.foreclosurephilippines.com/2009/08/i-failed-to-grab-my-first-real-estate-investment-property-so-what.html.
My post above was about how it was 2 years ago. Now I am able to take notice of foreclosed properties that no one else seem to have noticed and so I am able to buy them!
Can you please tell me more about the doubts that are in your mind right now so that if they are similar to mine, I can tell you how I conquered them?
I’m also a follower of Bo Sanchez. My uncle gave me a copy of Gabay and from then on I always crave for his writings, just like yours! Someday I also want to be financially free so my husband doesn’t have to work abroad coz my daughter miss him dearly. God bless us!
Hi Dreamer, thanks again for your comment! I highly suggest you read Bo’s “8 Secrets of the Truly Rich” and “Simplify”. It also would not hurt if you can attend Bo’s “How to be truly rich seminar” which I attended July 2007. Sulit talaga as long as you apply it in real life and it would help build a solid foundation that can lead to financial literacy and financial freedom!
Hi Lara, the answer to your question is a resounding YES! As one who often tends to be over analytical with numbers, I have seen with my very own eyes that it is really possible and can be done as I am actually doing it! Although I estimate I still need about 3 more deals to be financially free, I can assure you that this actually works.
For first timers, I would suggest doing small deals that are worth less than Php500K. This would require about Php50K in downpayment and another Php50K for repairs, taxes, etc. Attending auctions regularly is just part of the process, the real goal is learning to spot good deals by regularly analyzing properties. This is a numbers game and the more you analyze, the more good deals you see. With more practice, you spot good deals sooner and you can act faster. Even if one has no capital yet, one should still keep on analyzing properties and as one sees more and more good deals, when the time comes when he/she has saved enough money to invest, that first deal would be very easy!
As one who has already done real estate deals, I can say that it’s not as hard as I thought and I believe others who have also done it would agree.
Thanks for dropping by Lara, I wish you successful investing in real estate!
Is it really achievable that you will be financially free in real estate investing? For for timers, how much capital do you need? Is it must to attend bidding on a regular basis? Thanks.
@derek, thank you also! I wish you and your family all the best and more blessings!
@jdlasmarias, if you are looking for a single article that covers a step-by-step on how to buy foreclosed properties, I don’t think I can fit all of these in one article. However, the step-by-step is actually unraveling as I continue to publish individual articles that are connected with one another. As I have mentioned before, these will eventually become an e-book that will cover the step-by-step.
Hi Jay and everyone,
I’m a newbie to this site and to real estate investing. In fact, I have not yet acquired my first property but I’m trying to learn as much as I can for me to start investing soon.
I would just like to ask if there is an anticle out there about a step-by-step guide on “How To Buy Foreclosed Properties”?
I would really appreciate if someone can help me. Thanks a lot. 🙂
it’s very true! that job security is really an illussion.
thanks for your generosity mr. jay. consider yourself really blessed!
derek
@Lara, yes of course. Thanks!
@Oliver V., can’t help but feel good inside when I read your comment, and also the other similar comments from other readers. Thank you so much to all of you!!! I really can’t describe it but I guess in a nutshell, you guys give purpose to this blog and I shall continue sharing as much as I can as we all go through this journey to financial freedom. May God bless us all and I pray for our success!
Hi Jay,
I’ve been reading your blog for less than a month but I’ve been reading robert kiyosaki’s book particularly on real estate investing for a few years already. I find your blog very informative and encouraging; and by the way you give out advices, I find you very generous and supportive. Most of the people I know who have some experience in their trade would keep it to themselves or give it away for a costly fee, but not you. I pray that God will grant you more than just three deals this year for your extreme generousity!
It was only last year when I accidentally bumped into Dr. Larry Gamboa’s book that I figured out how RK’s real estate principles apply locally. At that time, it was like a skeletal structure to my financial literacy on real estate investing. But after finding your site and reading your blogs with all the stories complete with context and the generous downloads you provide, you put muscles, nerves and skins into that structure of idea I have in mind.
Just like you, my dream is financial freedom as well. I hope to meet you soon and learn more from you technically and inspirationally. I’ll be attending the upcoming biddings to observe muna, it will be my first time hehehe. See you soon!
God bless you and your family!
I hope you will continue to enlighten us. Thanks.
@Anonymous, very well said! Thanks for sharing!
@Lara, Thank you also for your comment and for the encouraging words. Thanks for visiting!
Hello Jay. This is my first time to post a comment. Your blog is very informative,helpful and inspiring. Thanks for sharing your knowledge to others. More power to you and your family.
I definitely agree 100%. There’s more to life than having to work for somebody all your life and having your retirement pay and pension to sustain you after. It would be alright you would think if you would be a top rank executive but how about if you would just be one of the average joes? Even if you have a VP-ish (Vice-Pres) career, I dont think that you will have time to spend with the people thats most important to you and doing the things you love. Unless of course, you love your bosses and beating improbable deadlines is your passion. Being in a higher position in a company demands more work which means more time from you but you only have much to offer. This brings us to the point, how being financially independent is much wiser to do. Time. Our most precious asset.
If you have a passive income, you are earning while sleeping, playing with your children, having a round of golf, taking your wife for shopping, all the things you wish to do. yes, even working! But the job that you love, not the one you only needed to do.
Having or wanting to have a lot of money is not evil as others may perceive. It is in how you use it and how you view it.
I believe we all have a responsibility to make this world a better place. To achieve this, one needs to be free and not preoccupied in just fighting for self survival. We all have to strive to be an instrument for others (it can be loved ones to complete strangers) to help achieve the other person’s higher purpose.
For me, I want to be free to be a blessing to others everyday and be the best father to my kids and best husband to my wife, which I believe is my purpose.
@Anonymous, thanks for the comment! Well, to conquer the fear of taking risks, you just have to educate yourself first so that you know how to manage risks. In driving a car for example, it is risky for one who does not really know how to drive. After a few driving lessons and some practice however, one is able to manage the risks involved in driving and is able to do so right? Just apply the same to investing in real estate! It’s easier than you probably think. =)
@Dinah, thanks but I am not yet out of the rat race, though I am moving closer to my goals. As I said, my goal is to do it before December 2009. I believe I can do it and you and anyone reading this can also do it! Just commit yourself and take action…
Congrats on finally having left the “race”. At this stage in my life, financial freedom is still a dream. but reading about other people’s experiences is always gratifying 🙂
Nice. Really nice input on financial freedom. This is also what I want to happen in my life, although I am just too scared to risk. How do I conquer that?