Book Reviews

 

Wealth For The Rest Of Us… is such a powerful concept and a deeper meaning than what the average person could really wrap their head around. After working with Terry and learning from him, I cannot wait to dive into his book.

When I first joined Terry’s coaching program, I was with other real estate investing programs that taught you how to make money fixing and flipping property. I showed Terry a spreadsheet deal calculator that I received from one of the real estate education companies. I thought it was so sophisticated.

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Terry wasn’t impressed! He told me that he would have me create my own calculator. I didn’t believe him. After about six coaching sessions with Terry, I had created my own deal analyzer calculator. I actually understood what each line item represented. I understood how each key performance indicator correlated with the others.

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After about ten coaching sessions, I was able to completely reverse engineer this deal analyzer calculator that Terry helped me develop. I was also able to compute various profits for different types of real estate investment deals with one input of numbers.

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As I advanced through his mentoring program, I understood every key performance indicator and was able to fully incorporate the information into my own deal calculator. I was able to easily evaluate a real estate deal in my head. One of the most important things I have learned from Terry is the concept of owing the note and “Being The Bank.”

“Being The Bank” resonated with me and made me fully understand the difference between owning the note versus owning the property. Terry taught me that the owner of the note, which is the bank, doesn’t have to make or pay for any repairs on the property. The owner of the note, which is the bank, does not have to take out the trash, replace the roof, mow the lawn, or call the plumber. This statement puts things in full perspective.

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Had I not met Terry, I would be a two-trick pony. I would only be able to do what all of the other gurus preach and teach, which is wholesaling, and fix and flip real estate. These same real estate gurus teach you about generational wealth, but I have seen first-hand what wholesaling and fix and flipping has done to me, other investors and friends of mine.

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Let me tell you, their way of teaching you how to invest in real estate definitely does not create generational wealth. All this did for me was create headaches and predatory hard money lenders chasing you down for interest only payments… in addition to imposing crazy penalties and expensive fees when you need an extension. Owning the note and being the bank is the best financial advice that I’ve ever heard. and Terry drives it home in his coaching program. Terry has dispelled the traditional myth and conventional wisdom that the only way to becoming wealthy is to have excellent credit, qualify for loans from banks, and have a bunch of money in your account.

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Most of the wealth-building programs on the market require capital, credit, and previous investing experience. No one will tell you this. Everyone will just tell you about the shiny objects that they’re using to sell their programs. Wealth For The Rest of Us is about you becoming your own bank instead of you and your family being enslaved financially to the banks. I cannot wait to get my hands on the book.

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—Maurice C, Pennsylvania Real Estate Agent