My quest for financial freedom started in January of 2004. I’d already purchased a house in 1991.  The thought of making money investing in real estate had never crossed my mind. 

After listening to Sandra’s and watching her portfolio grow so rapidly, I  just had to take notice. Sandra was already up to 4 houses by the time I was inspired.  I had to try it.

I had about $4,000 in down payment money and a stomach full of butterflies.  I had my eyes on a couple of houses. However, due to my really bad credit and a weak will I had pretty much given up.  Depression quickly set in.  My dreams of becoming a real estate investor came to a screeching halt. 

Sandra and I talked again.  We brain-stormed on how I might get started.  I had nothing to lose.  So after brainstorming, an idea was born.  I would rent out my house.  We then took that idea a step further.  I would rent my house out to the Housing Authority (Section 8) and move into an inexpensive apartment.  I played with that idea for days. I decided to run with it.  I then submitted an application to the Housing Authority.  I started getting my house ready for renting (light repairs, replacing fixtures etc.) and then moved out.  May of 2005 will make it exactly a year since I rented my house out.  It was the best move I ever made.

February 15, 2005, I closed on a 2-bedroom foreclosed condominium.   Sandra suggested that I put an offer in on it.  But I knew deep down inside I couldn’t get it, due to my bad credit.  She told me it would be a good investment property for me. 

So  I submitted an offer on it.  I waited for a call from my agent to see whether the seller accepted my bid. The next day I started looking for a mortgage.  Due to my bad credit it was extremely difficult. 

I started to slide back into a state of depression. That didn’t last long because Sandra wouldn’t let me. She told me to be creative. She had me call my agent and make a cash offer for the full amount. I received a phone call within hours from my real estate agent. The seller accepted! 

The next move now was to find the cash to make the deal happen.  I knew that a bank wouldn’t give me a mortgage so I decided to refinance my current house.  I searched and searched for a bank to do the refinance. I found a mortgage Broker to do the refinance with cash out! With the refinancing of my current house and the funds that I had in the bank, I was able to make the purchase of my condominium a reality.

I now own 2 pieces of income producing property! 

Thanks Sandra for everything……….    Sincerely, Lyndon Chan