had a good credit rating, imagine how it looks to be in default of $2.5 million. The banks don’t just line up to help you out.

We started to brainstorm on where to get the money and it was tough, we asked everyone but the mob for money. We structured the deal in all kinds of different ways, and finally we started getting some nibbles. We kept changing the deal until a small bank that had a bunch of money they wanted to put into housing development came to look. The project was 70 houses all selling for over $2 million each, just what the bank needed to show off to it’s inv

Do you find it helpful to know the person telling you how to get out of debt was once in debt himself? As you progress in your wealth building plans and get past the emergency fund, debt reduction, and start getting to things like investments you will find out all debts are nor created equal.

Most of the super wealthy people I know have all had a big deal or two go bad. To add to the financial pain, most of them leveraged their money. Meaning they borrowed a sizable amount on top of what they put in of their own. If it goes bad they can “lose it all”. When you watch a big deal go down the toilet it makes this funny feeling in the stomach. I am sure it is similar to getting 5 of the 6 lotto numbers for some people. The rich have found ways to keep the deal from going down the toilet when most have already sold their furniture for rent money.

The ability to look for solutions no matter how black the future looks is a skill the wealthy have mastered. You too can work on this, in your job or with your family we all have situations where no one can seem to find a solution to the dilemma. Make it your role to think out of the box, in the box, around the box or any other way you need to and figure out something that can “save the day’. Because some day you just might have too.

The sooner you can start this practicing the better because you do not want to have to learn this the way I did. I received a letter in the mail one Tuesday evening and open it to find our creditors were suing us for $2.5 million and they were charging us $362/day in interest! I called my partner and asked what the $#@% was going on and he said, “oh I have been waiting for that, we haven’t paid them anything for over a year.” Luckily for him I could not shoot him from where I was.

I was a silent partner, this was the last time I ever did that, and found out they had been in negotiations the whole time, without letting me in this information. Our development had taken a lot longer to get going than planned and we just did not have any cash flow to pay for debt. Luckily the amount was so huge that the court that it needed to go to was busy and we had about four months to find the money. Originally it took a couple of years to find these people to lend us the money for our development and back in those days we had a good credit rating, imagine how it looks to be in default of $2.5 million. The banks don’t just line up to help you out.

We started to brainstorm on where to get the money and it was tough, we asked everyone but the mob for money. We structured the deal in all kinds of different ways, and finally we started getting some nibbles. We kept changing the deal until a small bank that had a bunch of money they wanted to put into housing development came to look. The project was 70 houses all selling for over $2 million each, just what the bank needed to show off to it’s inve

deal go down the toilet it makes this funny feeling in the stomach. I am sure it is similar to getting 5 of the 6 lotto numbers for some people. The rich have found ways to keep the deal from going down the toilet when most have already sold their furniture for rent money.

The ability to look for solutions no matter how black the future looks is a skill the wealthy have mastered. You too can work on this, in your job or with your family we all have situations where no one can seem to find a solution to the dilemma. Make it your role to think out of the box, in the box, around the box or any other way you need to and figure out something that can “save the day’. Because some day you just might have too.

The sooner you can start this practicing the better because you do not want to have to learn this the way I did. I received a letter in the mail one Tuesday evening and open it to find our creditors were suing us for $2.5 million and they were charging us $362/day in interest! I called my partner and asked what the $#@% was going on and he said, “oh I have been waiting for that, we haven’t paid them anything for over a year.” Luckily for him I could not shoot him from where I was.

I was a silent partner, this was the last time I ever did that, and found out they had been in negotiations the whole time, without letting me in this information. Our development had taken a lot longer to get going than planned and we just did not have any cash flow to pay for debt. Luckily the amount was so huge that the court that it needed to go to was busy and we had about four months to find the money. Originally it took a couple of years to find these people to lend us the money for our development and back in those days we had a good credit rating, imagine how it looks to be in default of $2.5 million. The banks don’t just line up to help you out.

We started to brainstorm on where to get the money and it was tough, we asked everyone but the mob for money. We structured the deal in all kinds of different ways, and finally we started getting some nibbles. We kept changing the deal until a small bank that had a bunch of money they wanted to put into housing development came to look. The project was 70 houses all selling for over $2 million each, just what the bank needed to show off to it’s inv

ound the box or any other way you need to and figure out something that can “save the day’. Because some day you just might have too.

The sooner you can start this practicing the better because you do not want to have to learn this the way I did. I received a letter in the mail one Tuesday evening and open it to find our creditors were suing us for $2.5 million and they were charging us $362/day in interest! I called my partner and asked what the $#@% was going on and he said, “oh I have been waiting for that, we haven’t paid them anything for over a year.” Luckily for him I could not shoot him from where I was.

I was a silent partner, this was the last time I ever did that, and found out they had been in negotiations the whole time, without letting me in this information. Our development had taken a lot longer to get going than planned and we just did not have any cash flow to pay for debt. Luckily the amount was so huge that the court that it needed to go to was busy and we had about four months to find the money. Originally it took a couple of years to find these people to lend us the money for our development and back in those days we had a good credit rating, imagine how it looks to be in default of $2.5 million. The banks don’t just line up to help you out.

We started to brainstorm on where to get the money and it was tough, we asked everyone but the mob for money. We structured the deal in all kinds of different ways, and finally we started getting some nibbles. We kept changing the deal until a small bank that had a bunch of money they wanted to put into housing development came to look. The project was 70 houses all selling for over $2 million each, just what the bank needed to show off to it’s inv

m I could not shoot him from where I was.

I was a silent partner, this was the last time I ever did that, and found out they had been in negotiations the whole time, without letting me in this information. Our development had taken a lot longer to get going than planned and we just did not have any cash flow to pay for debt. Luckily the amount was so huge that the court that it needed to go to was busy and we had about four months to find the money. Originally it took a couple of years to find these people to lend us the money for our development and back in those days we had a good credit rating, imagine how it looks to be in default of $2.5 million. The banks don’t just line up to help you out.

We started to brainstorm on where to get the money and it was tough, we asked everyone but the mob for money. We structured the deal in all kinds of different ways, and finally we started getting some nibbles. We kept changing the deal until a small bank that had a bunch of money they wanted to put into housing development came to look. The project was 70 houses all selling for over $2 million each, just what the bank needed to show off to it’s inv

had a good credit rating, imagine how it looks to be in default of $2.5 million. The banks don’t just line up to help you out.

We started to brainstorm on where to get the money and it was tough, we asked everyone but the mob for money. We structured the deal in all kinds of different ways, and finally we started getting some nibbles. We kept changing the deal until a small bank that had a bunch of money they wanted to put into housing development came to look. The project was 70 houses all selling for over $2 million each, just what the bank needed to show off to it’s investors. Now we magically were negotiating from a position of power. We had something they needed and we wrote up a deal that was fantastic for us. We paid out the first lender and they where happy. We got a bunch of new money from the new bank, plus some great terms and no court case.

Along the way I had some sleepless nights but I acquired some very valuable experience on finding money and I also practiced a lot of stuff I had learned before and it all paid off. I will be sharing these awesome techniques in future articles. For now know I too was once in debt so far I could not even see how I would pay for my next meal. The stuff I did was tough at first and sometimes uncomfortable but now my financial life is so great I would do it all over again and make it twice as hard because the payoff in the end is just that great. Be smart, be wealthy.