I just finished taking the November 2007 Real Estate Broker Licensure examination last November 25, 2007. Thanks to the very hard review class practise exams given to us by the Urban Institute of Real Estate c/o Engr. Enrico Cruz, the actual exam was quite easy. Our practise exams were usually fill-in the blanks while the actual exam was multiple choice. Can't wait to get the results!

This happened more than 2 months ago, after just 2 weeks of attending the weekly cashflow sessions at charter house. I high-lighted promising properties in a listing from BPI's asset management group and when I showed the list to my mentor, she ponted out this 1 property in Makati that was probably worth looking into because of its good location. This was a BSA condo unit that measured 34sqm and was for sale for about 2M. The day before(which was a Tuesday) I already called BPI to check if the unit was still available. They said I can visit the unit anytime. During the cashflow meeting, we decided to visit the unit on Saturday. Come Saturday, Karen, Glenn, Earth and myself visited the property and found the unit as a great deal.

Here are the numbers. Comparable condo units were selling at about 2.5M to 3.0M, meaning I could get at least P500,000 in profit if I flipped the property. If I were to go for cashflow, I could get at least P6,000 monthly positive cashflow. I could even get more if I were to rent it out to an expat. Take note that this condo was just a stone's throw away from AIM and greenbelt 3.

Come Monday, I already drafted a proposal which I faxed to Karen so she could show to Ms. Dinna for her comments. While waiting for her feedback, I decided to call BPI to check on the property. I was shocked to find out that the property was already sold last Friday, the day before we visited it.

I guess it was a really good deal as the bank officer told me the buyer bought it in cash. Oh well, no need to feel bad as I am sure that there are other properties out there... I just have to keep finding those great deals.

Lessons learned:

1. Great properties are sold quickly, fast and decisive action is key.
2. Do the numbers fast, I created a simple excel sheet to do this, based on sample computations in Larry Gamboa's book, Think Rich Pinoy!.
3. It's all about location, location, location... I am now on the lookout for condos in this great location. I am more sure that I will be making my money when I buy, not when I sell, I'm not doing any speculation as this is based on the present market value of comparable properties.
4. I found out that this bank sold properties through mortgage loans, which meant I must be able to meet their financial requirements. Although I was confident on this, it would still take more time as compared to banks that sell properties through a contract-to-sell. You can read more about this in Dinna Revilla's book, Riches in Foreclosures.

More to come...

It's been almost 2 months now since I started to implement T. Harv Eker's principles on how I manage my money. Although the percentages are not yet exactly at the levels described in the book, I am at least able to set aside 10% of my salary each payday for my financial freedom account. The rest are still lower but its a work in progress.

The funny thing is that my salary is still the same, yet about 3 months ago, I could barely make ends meet and I was like living paycheck-to-paycheck. I guess the universe really does pay attention to how we play the money game. No doubt about it, I'm playing to win!

Been out of circulation for awhile, so many things happened the past month and I never got to make an entry here since. Anyway I'm back and I made it through a bout with vertigo, my wife's bar exams, a crisis at the office, and a real estate deal that almost made me go 20% closer out of the rat race...whew.

If you want to learn more about investing in stocks, click here. The best part about this is its free and it's highly recommended as seen here. Thanks Jomar!

Pop Quiz Time!
1. Are you working harder than your salary?
2. What is your money's profession?
3. Can you answer these two simple questions?

A lot of people have dreams of being free to do what they want in life but are stuck in jobs-working hard.
Most of them don't know that their money must work harder than they do.

Bo Sanchez & Larry Gamboa has been teaching how to do this for 3 years now. And you must give yourself a chance to know how it's done.

Attend the NEW Think Rich Pinoy! Seminar (featuring Kiyosaki's CashFlow 101 game) on
Saturday, August 18, 2007, 8:00am to 5:00pm, Philam Life Bldg. UN Ave.

(Not in the Philippines but Interested? Keep reading).
* To reserve a seat, please check availability first by texting 0917-850-5681
Deposit Php1450 (see below for promos) to: BPI Account:Espiritu Santo Technologies Int'l Inc;
Account# 8291007318.
After depositing, email richteamevents+forum@gmail.com for the scanned deposit slip and
registration info such as full name, nickname, address, home/ofc no., mobile no. and
birthdate.


What's new for Think Rich Pinoy August 2007?
--------------------------------------------

-Bo Sanchez will be there, live.

-Removing the blocks that prevent you from acting

-Actual people --who have just SOLD their FIRST & SECOND Foreclosed property--will tell their story (this is a continuing saga).

-More details & stories from Larry's New Mentoring Sessions

-Foreclosed property buying step by step

-Using other people's resources to get that property


2 ways to shave off that price
---------------------------------
Seminar Investment is : P 1450.- (includes lunch)

10% off: Early Bird Discount: 10% off, pay Php1,300 only.- (Valid until Aug. 03,2007)

50% Off: Limited Seats! Graduates of previous ThinkRichSeminars pay only P 725.-

Want to GET a sponsor? Read on and we'll show you how.

Families of OFWs, this is for you.
-------------------------------------------------
If you know any Overseas Filipino Loved Ones who are coming home by August -invite them to go with you to this seminar. Larry's team will
teach you both how to convert all those remittances into passive income -so Filipino family members can finally come home to their
families.

If they cannot come, ASK THEM TO SPONSOR YOU. It will be money well spent. After you attend, tell them all about it.

For those who've read the book Think Rich, Pinoy!
------------------------------------------------------------------------
Most of you want to start but can't. Larry & Bo will also teach you how to remove the blocks that prevent you from moving forward and increasing
your income. This is material covered in his newest book, Grow Rich, Pinoy!.

FORWARD This: If you're already attending the August 18 event, please forward this email to others, who like you--may be interested in getting PASSIVE INCOME or applying Kiyosaki's concepts in the Philippines.

... As long as it is not that serious. I was on sick leave today due to a mild flu and cough and cold. My wife took care of me and I had a wonderful time spent with my cute and adorable baby boy. Now that's work-life balance!

Financial freedom, that is my goal. Just what is financial freedom? From the game Cashflow 101 by Robert Kiyosaki, author of Rich Dad Poor Dad, it is simply having more passive income than your expenses. It means you don’t have to work a single day for the rest of your life as you are already out of the rat race. Passive income? Rat race? What are those you may ask? You wake up early in the morning, go to work, work hard all day, get a salary, pay your bills, wake up early in the morning, go to work, work hard all day, get a salary, pay your bills… a never ending cycle. That’s the rat race. If you are in the rat race, you are at the mercy of your employer or your source of income that is not passive. You simply have to work hard, otherwise, you won’t have food on the table, no water, no shelter... get the picture?! Passive income is income that goes to your pocket whether you lift a finger or not. With this blog, I’ll try to share my thoughts and experiences on my journey to financial freedom, along with all the adventures in my work and family life, and how I am constantly balancing the two. Of course work-life balance is definitely easier to achieve when you are out of the rat race.

In some way, I would also like to thank and give credit to the kind hearted individuals out there who have become my friends, mentors, or who have helped me one way or another in this journey of mine. I hope this would be of help to those who are also on the same journey. This would also be a good place to announce to the world when I have already achieved financial freedom… which is soon, very soon!!!