Millionaires in the Making – Terry Stewart

Mentor Notes:

I have had the opportunity to mentor a wonderful student, Terry Stewart. He started out like many others, full of fear and not knowing what to say or do, but in a short time has made tremendous progress and is now reaping success. I commend him for working through the fear and taking the necessary action steps despite having a full time job and other family health issues. He just completed Ron LeGrand’s Quick Start Real Estate School and Business Management last year. Terry made the smart decision to invest in his business by enrolling in the mentoring program, implementing the Gold Club VA service with a website, setting up PATLive for Yellow letters and CallFire for his buyers.

It was my pleasure to help Terry’s Real Estate Investing business develop and grow. Below is his testimonial.

Barbara LeGrand Cockrell

I would like to offer the following testimonial as a word of encouragement to my fellow students:

I just got a single family home under contract on a lease with an option to purchase at $190,000. It is a beautiful home in a beautiful neighborhood. My VA generated the lead, and with the guidance of my mentor, Barbara Cockrell, I am working through the process of getting a buyer under contract. I already have two possible tenant-buyers for a lease-purchase. Barbara reviewed the contract and has offered advice on finding buyers.

My goal is to get at least a $15,000 down payment with $5,000 going to the seller. I am setting the lease-purchase price at $230,000. So, I expect to get a $10,000 profit from the down payment, my monthly spread should be around $250 and my profit when my buyer cashes out in a couple of years will be $25,000.

I purchased another free and clear house with owner financing for $50,000 with no money down and $600 a month till paid. I will sell on a Work For Equity plan for $85,000 and payments of $1,000-$1,100 a month.  The house has a new water heater and furnace and the roof has been redone. So my exit profit on this house will be about $8,000 down, $400-$500 a month and $27,000 when cashed out.

I am most grateful to my mentor not only for her guidance on deals, but also for her consistent doses of Ron’s philosophy, her encouragement and her effort to keep me moving in the right direction. Barbara has made a big impact with the things she has said and the direction she has provided.

Sincerely,

Terry Stewart
Batavia, Ohio