Manny Khoshbin - Manny Khoshbins Contrarian PlayBook: How to Build Your $100 Million Real Estate Portfolio From the Ground Up

MANNY KHOSHBINS

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PUBLISHED BY

GeniusWork Publishing at Smashwords

Copyright 2012 by Manny Khoshbin

This ebook is licensed for your personalenjoyment only. This ebook may not be re-sold or given away toother people. If you would like to share this book with anotherperson, please purchase an additional copy for each recipient. Ifyoure reading this book and did not purchase it, or it was notpurchased for your use only, then please return to Smashwords.comand purchase your own copy. Thank you for respecting the hard workof this author.

Published by GeniusWork Publishing

www.geniusworkpublishing.com

This book is available in print at onlineretailers

Cover Design: Sakura Reese

Cover Photograph: Damir K

Illustration: Sarah Lane

This book is dedicated to my Mother andFather, with gratitude for the many sacrifices they made in orderto bring our family to the United States.

Table ofContents

Disclaimer

This book was written with the intention ofproviding the reader with information regarding real estateinvestment in general, and the authors investment strategy inparticular. The reader should be aware that real estate laws andpractices vary from state to state, and, of course, are subject tochange. While the information provided in this book is believed bythe author to be true and accurate, the author takes noresponsibility for any unintentional mistakes or omissions. Thereader is advised that this book is intended as a general guide toreal estate investment, not as legal or professional advicepertaining to individual situations. The author disclaims anyliability that may result from the application of the informationrelayed in this book.

Introduction

I love real estate investment.I cant even imagine my life if I had not found my way tothis workalthough work is not the most accurate description ofhow I feel about it. For me, real estate investment isplayvery serious playbut still play, in that I totallyenjoy the process.

Riffing on another definition of play,I would say that there is a competitive thrill to real estateinvestment, and I dont mean the competition with otherinvestors to buy a particular property. It is a competition youhave with yourself, a commitment to always bring your best game tothe table, because each real estate deal is unique, and thereforean adventure. And with this adventure comes real exhilaration.

So I invite you to jump into the game asa real estate investment player. This book is intended to serveas a playbook, and contains the proven practices that make up mywinning game plan: A solid strategy for extraordinary success inreal estate investment. If followed, this book could start or spurthe path that will take you to your $100 million real estateportfolio.

There are many things I love about realestate investment. I love the hunt of finding the rightmarket, and the right property in that market. I love thenegotiation involved in buying a property. I love working witha property once it is mine, and bringing it to its full potential.I love adding value to a property, and since there are manyways to do this, I get to be very creative. I love thepride of ownership I feel as a landlord. And when it is time,I love selling a property that I know I improved,and selling it at a significant profit.

While I love playing the game of realestate, I also enjoy the prosperity it brings. I am doingsomething I am passionate about and being richly rewarded byit. America is a land of opportunity, and real estate investment isa great way to make the most of all it has to offer.

I am excited to share this book with youand honored that you are here. In 1996, I found myself talkingto my former landlord. He told me that I reminded him ofhimself as a young man when he first came to Orange County,California and started buying real estate. He suggested thatI look at real estate investment as a possibility for my owncareer. He pointed out that if you take a handful of dirt and putit in your pocket today, you can hang your pants up and come backyears later, and the dirt will still be there. As Mark Twain tellsus, Buy land, theyve stopped making it.

In other words, real estate is a tangibleasset, and as such is unique in the investment world. With thesewords, he planted the seed that I have now grown into my ownsuccess. In gratitude to him, I want to do the same foryouget you started, or reignited, in your own real estateinvestment career! I hope that you find yourself loving thisgame as much as I do

.I. REAL ESTATE IS THE WAYTO GO

Lets Gooooo!

This book is not just about how to invest inreal estate; it is about how to be a very successful real estateinvestor. In the pages to come, I will share my own powerfulcontrarian investing strategy, which is the foundation on whichI built my $100 million (and growing!) real estate portfolio.I will also show you how to implement this strategy like atrue contrarian, which will call on your commitment, common sense,and cojones!

You will see that no matter what your currentsituation, you can jump right in and start playing this game. Inthe playbook, you will find critical information and criteria touse at each stage of your portfolio development.

Finally, you will see how investing like acontrarian will allow you to create a full success, one where theinvesting itself feels as good as the financial rewards! After all,we all know that the best players play out of a love of thegame.

From The Ground Up

When I say you can become a verysuccessful real estate investor, I mean it! I can alsosay with complete confidence that it can work for you regardless ofyour starting point, because it got me where I am todayandI started out with absolutely nothing.

To this day, I drive by a supermarketparking lot that has a particular memory for me. As a young boy, myfamily lived in our car in that parking lot for months, survivingon nothing but bananas much of that time. My father had taken abold step and moved our family of six from Iran to the UnitedStates, just weeks before my fourteenth birthday. We left behind acomfortable lifestylemy father owned a hardware store and was aretired Senior Cost Accountant, and our home was completely paidoff. My father made this risky move to protect me, becauseI was on the verge of being drafted into the Iranian army.

We were thrilled to come to the UnitedStates, but unfortunately, the job my father had been promised didnot come through. We found ourselves with little money and nowhereto live. I still marvel at the fact that my father and mothernever gave up. My father eventually found work, and we moved into asmall apartment, but the experience of living in a car stays withyou the rest of your life.

To help contribute some money to my family,I became a dumpster diver, selling the recovered items at swapmeets on the weekendsmy first business! Then, at the age ofsixteen, I worked at Kmart, cleaning toilets and collectingshopping carts. This job served an important purpose, instilling inme the value of hard work and determination. It also taught me toremain focused on my long-term goals: I always knew that thisjob was only a stepping stone on a path to something muchgreater.

I had a strong entrepreneurial spirit,and was always interested in going into business for myself. Whilestill in high school, I created my own multi-level marketingcompany. I later tried to open a Mobil gas station. At the ageof twenty-one I got my real estate license and opened amortgage company until the slowdown in 1994. At several points inthis journey, I found myself back at square onein otherwords, a failed business and zero moneybut I never gave up,and never stopped planning my next move.