Jack Miller's Surviving and Thriving in the Distressed Market |
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| Written by Eric Olson | |
 Jack started his seminar with a philosophy that investors must consider
changing their thinking and open their mind to new possibilities. What
worked during the last housing cycle, making you lots of money, will
not work in this cycle.
Jack strongly recommends you turn off CNN news and stop listening to
all the reports proclaiming that the sky is falling within the real
estate market. However, he did say that all the negative media would
eventually work to benefit the investors as they negotiate in this
market. Jack warned those who have taken the position as victim, those
who wait for the government to bail them, that this attitude will be
challenged by Jack’s aggressive students and their ability to operate
in the changing market. If you want to make money, stop waiting for things to change and start changing yourself and your mindset. This reminded me of Levi Strauss the famous pant maker who knew he wouldn’t make money panning for gold, so he mined the gold miners. He changed his thinking and the company stands strong today. Jack told the class that the jobs that paid top dollar in the past like flipping will change to jobs like property management, leasing for cash flow, auctioning, foreclosure buying and selling, and switching to a new area such as financing mobile homes. Other areas Jack recommended exploring are taking on some menial low paying jobs such as delivering pre-foreclosure notices to owners or working to board up blighted homes for companies. While some of these jobs don’t carry the prestige and quick prosperity past times have spoiled us with, Jack suggested we can use these jobs and contacts to make new connections and use the information learned to our benefit.
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