I’m writing this on Friday, October 9, 2015. It’s a heavy day for me. Today is the sixth anniversary of Jack Miller’s passing, and for the past few days my thoughts have frequently been about Jack.
Many of you have never heard of Jack Miller. Fewer still ever took the opportunity to learn from this great man. Jack, hands down, is the best all-around real estate investor I’ve ever met. He was the definition of original. There was no boundary he wouldn’t push.
Put simply: Many of the creative deal structuring and funding techniques investors use today were born in Jack’s wonderful imagination. There has never been, or will ever be, another Jack Miller.
I wish I had a do over. While I attended most of Jack’s seminars, there was more than a handful that I missed. If I could get that do over, I’d be front and center at each one of those missed seminars – taking notes like crazy!
Kim just asked what I’d pay to attend just one more of Jack’s seminars. One hundred thousand dollars wouldn’t be too much. God, to hear Jack ring his big bell that let folks know that class was back in session…yep, one hundred thousand dollars would be well-spent money!
When Jack passed, he was nearly eighty years old and at the top of his game. Here are a couple of Jack’s quotes I wrote down at his February 2009 Money Matters seminar…this was the last seminar he taught!
“When you are the only one in the desert with water, you can command a handsome price for that water.”
“Don’t look for big chunks of money. Instead, look for lots of small deals that pay you constantly”
“As real estate investors, we must constantly be adapting to the current market. Dinosaurs failed to do this and they’re now extinct.”
“There are two horses in this business – houses and paper. When real estate values drop, move to paper. When paper drops, move to real estate.”
“To succeed as a real estate investor, fish with a big net. You won’t make it if you’re fishing with a line that only has one hook at the end. In other words, you gotta make a lot of offers!”
“It’s one thing to pass a law. It’s another to enforce it.” (He said this with a twinkle in his eye!)
“When house values drop, it’s like the Titanic is sinking and you’re in the life boat saying, ‘Seats for sale!’”
“Keep thinking about how to pick up the penny off the pavement.”
“Raindrops turn into a river. You want a lot of people owing you money.”
“As an investor, always do more than you…
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