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The Passive Income Club Manifesto

Cash Flow through Real Estate

THAN MERRILL

JD ESAJIAN

PAUL SHIVELY

ThePassiveIncomeClub.com

FortuneBuilders, Inc.


Published byFortuneBuilders, Inc. San Diego, California

CopyrightCopyright © 2011 FortuneBuilders, Inc. All rights reserved. No part of this publicationmay be reproduced, stored in a retrieval system, or transmitted in any form or by anymeans, electronic, mechanical, photocopying, recording, scanning, or otherwise,except as permitted under Section 107 or 108 of the 1976 United States CopyrightAct, without either the prior written permission of the Publisher. Requests to the

Limit of Liability/Disclaimer of Warranty; While the publisher and authors haveused their best efforts in preparing this book, they make no representations orwarranties with respect to the accuracy or completeness of the contents of this bookand specifically disclaim any implied warranties of merchantability or fitness for aparticular purpose. No warranty may be created or extended by sales representativeor written sales materials. The advice and strategies contained herein may not besuitable for your situation. You should consult with a professional where appropriate.Neither the publisher nor the authors shall be liable for any loss of profit or anyother commercial damages, including but not limited to special, incidental,consequential, or other damages.

For general information on other products and services, please visit the website:ThePassiveIncomeClub.com


About the CompanyFortuneBuilders, Inc. FortuneBuilders, Inc. is the country’s leading company teaching investors how to build cash flow through real estate. Inc. 500 magazine recently named FortuneBuilders, the No. 1 educational company in the U.S. The company itself has grow rapidly – more than 3,648 percent in the past three years. Founded by Nathanial “Than” Merrill and JD Esajian, stars of A&E’s “Flip This House,” the company was started to educate the thousands of fans who asked for advice in making money through real estate. Today, FortuneBuilders, Inc. has hundreds of successful students who have implemented the correct

systems and strategies to create wealth in Real Estate, and are experiencing the lifestyle they desired.

About the AuthorsThan Merrill Than Merrill is founder and president of CT Homes, LLC, a multi-million dollar real estate invest-ing company based in San Diego, Calif., in addition to FortuneBuilders, Inc. Than applies and grows his real estate investing knowledge daily with CT Homes, LLC, and then shares his groundbreaking tech-niques with his students at FortuneBuilders, Inc. The results are evident in the past three years alone; his company, CT Homes, LLC, has pur-chased, rehabbed and wholesaled more than 300 single-family and multi-family properties. His company typically buys eight to twelve properties per month. Than’s success can be attributed in large part to his team-building talents and cutting edge busi-ness systems. He is a champion at surrounding himself with some of the most dynamic and dedicated partners, employees, investors and students. Born in Fresno, Calif., Than graduated from Yale University and then played in the NFL for two years with the Chicago Bears and Tampa Bay Buccaneers. After moving on to full-time real estate in-vesting, he became a star on A&E’s popular TV show, “Flip This House.” Than continues to pursue his entrepreneurial dream of building a dynamic company, while enthusiastically teaching the secrets of his success to investors across the country.

JD Esajian JD Esajian, also a star of A&E’s popular TV show, “Flip This House,” is head project manager of CT Homes, LLC, and a national speaker with FortuneBuilders, Inc. He, along with business partner Than and brother Paul Esajian, are some of the nation’s most successful investors and are considered elite experts in buying, fixing and selling properties. JD’s strong work ethic combined with his systematic, no-nonsense strategies have enabled him to manage 15 to 20 rehab projects (consisting of 50 or more contractors) simultaneously. His vast renovating experience includes single-family homes and multi-family residences, as well as commercial properties. These range from minor cosmetic rehabs to complete teardowns. Over the past few years, JD has flipped more than 300 properties throughout the country and has helped hundreds of investors earn sizeable profits in the real estate industry. JD believes the key to buying properties successfully and profitably is to implement systems that will help run your business: “Systems are what you leverage to build wealth, eliminate risk, save time,


and keep you sane!” The investments systems that JD has developed are second to none in the industry.

JD Esajian is originally from California, where he studied business at the University of Southern California and graduated from California State University, Fresno, with a degree in economics. JD is a firm believer in the importance of keeping balance in one’s life through maintaining a healthy mind, body and soul. He believes that it is only when that balance is achieved can true happiness and success be realized. JD often quotes a popular phrase, “How you do anything is how you do everything” – so he does everything with excellence.

Paul Shively Paul Shively is one of the most versatile members of FortuneBuilders, Inc. He manages and expands the Long-Term Investment Division for FortuneBuilders, Inc. and CT Homes, LLC. He has spear-headed the creation of long-term investment portfolios for more than 250 real estate investors around the globe. Paul has helped his clients create more than $50 million dollars in entirely passive wealth. Prior to joining FortuneBuilders, Inc., Paul independently owned and operated a successful loss mitigation company. After meeting Than and JD, Paul could not resist the opportunity to manage For-tuneBuilders, Inc.’s newest and fastest-growing department. Paul quickly sold his company to the highest bidder and joined FortuneBuilders. Paul’s secret to success is centered on the philosophy and wisdom that his father passed down to him. Some of his father’s most memorable words to him were, “Surround yourself with those who constantly push you to succeed, and you will never be complacent or idle.” Paul took those words to heart, playing baseball at a national level during his high school and college years and eventually landing at the University of California, San Diego, to get his degree and play NCAA baseball. Paul continues to push himself, using his desire for success to benefit his clients, as he continues to turn their dreams into reality.


and keep you sane!” The investments systems that JD has developed are second to none in the industry.

JD Esajian is originally from California, where he studied business at the University of Southern California and graduated from California State University, Fresno, with a degree in economics. JD is a firm believer in the importance of keeping balance in one’s life through maintaining a healthy mind, body and soul. He believes that it is only when that balance is achieved can true happiness and success be realized. JD often quotes a popular phrase, “How you do anything is how you do everything” – so he does everything with excellence.

Paul Shively Paul Shively is one of the most versatile members of FortuneBuilders, Inc. He manages and expands the Long-Term Investment Division for FortuneBuilders, Inc. and CT Homes, LLC. He has spear-headed the creation of long-term investment portfolios for more than 250 real estate investors around the globe. Paul has helped his clients create more than $50 million dollars in entirely passive wealth. Prior to joining FortuneBuilders, Inc., Paul independently owned and operated a successful loss mitigation company. After meeting Than and JD, Paul could not resist the opportunity to manage For-tuneBuilders, Inc.’s newest and fastest-growing department. Paul quickly sold his company to the highest bidder and joined FortuneBuilders. Paul’s secret to success is centered on the philosophy and wisdom that his father passed down to him. Some of his father’s most memorable words to him were, “Surround yourself with those who constantly push you to succeed, and you will never be complacent or idle.” Paul took those words to heart, playing baseball at a national level during his high school and college years and eventually landing at the University of California, San Diego, to get his degree and play NCAA baseball. Paul continues to push himself, using his desire for success to benefit his clients, as he continues to turn their dreams into reality.


Table of Contents

About the Company...................................................................................................................................

About the Authors.....................................................................................................................................

Table of Contents.......................................................................................................................................

Chapter 1 - About the Passive Income Club...............................................................................................

Part 1 – Why the Club Was Created...........................................................................................................

Part 2 – What is the Passive Income Club?................................................................................................

Chapter 2– Retirement Myth.....................................................................................................................

Chapter 3 – Why Real Estate?.................................................................................................................

Part 1 – Why Real Estate Right Now?......................................................................................................

Part 2 – The Key to Wealth Producing Assets.........................................................................................

Part 3 – Why Cash-Flowing Real Estate?.................................................................................................

Chapter 4 – How the Passive Income Club Benefits You.........................................................................

Chapter 5 – Four Pillars of Investing........................................................................................................

Part 1 – Pillar No. 1: Choose the Right Market........................................................................................

Part 2 – Pillar No. 2: Source the Right Type of Deals...............................................................................

Part 3 – Pillar No. 3: Cash Flow (Your Money Must Make Money)..........................................................

Part 4 – Pillar No. 4: Good Property Management Equals Passive Income.............................................

Chapter 6 – Sources of Financing............................................................................................................

Chapter 7 – Your Wealth Building Consultation......................................................................................

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Chapter 1 About The Passive Income Club

Part 1 - Why The Club Was Created

The Passive Income Club is the brainchild of the founder and executives of FortuneBuilders, Inc. and was created because of incredible demand from many of our high-end students. By virtue of being featured on more than 30 episodes of A&E’s national hit TV series, “Flip This House,” we at FortuneBuilders, Inc. have gained a number of valuable relationships with institutional lenders, asset managers, hidden inventory providers and many other high-level players inside the real estate industry. These contacts would not have been available had FortuneBuilders, Inc. not been thrust onto the national scene via the show. So we set out to make the most of

them and to expand our own sphere of influence. When the TV show aired, we were inundated with an incredible demand from everyday investors looking for advice. They asked questions, such as, “Where can I find the deals that you and your team invest in?” “How do I create a profitable relationship with the institutional investors that you have partnered with?” And “Can you teach me how to succeed like you have?” We firmly believe in the power of sharing knowledge, and we started speaking at real estate investor associations nationwide. We dispensed our knowledge to audiences, who soaked it up like a sponge. The feedback across the board was phenomenal, but we heard one common question: “Where can I get more?” In order to address this demand, we created FortuneBuilders, which is our real estate educational company. Because of these circumstances, we at FortuneBuilders, Inc. have had countless opportunities to invest with top institutional investors, asset managers, turnkey operations and hidden inventory providers across the country. We now pass these opportunities to our students first, allowing them to benefit from our industry contacts. But as you might imagine, FortuneBuilders simply does not pass along every opportunity that comes our way. For every opportunity time is needed for a background investigation, due diligence, fact checking, relationship building, and ultimately, a countless number of decisions that need to be made in an extremely dynamic and evolving field before we will pass along an opportunity to our students. The team at FortuneBuilders, Inc. created The Passive Income Club as a way to share these incredible investment opportunities with others. The Passive Income Club helps investors build cash flow through such lucrative deals and more that we search out. Paul Shively heads the Passive Income Club and the Long-Term Investment Division at FortuneBuilders, Inc. Paul guides Passive Income Club members to stay on the cutting edge of investment opportunities in an ever-changing real estate market. Scouring the country, he finds investment opportunities that provide the highest and most consistent return on their money. He has done countless joint venture investigations and is an expert on the national real estate market. In conjunction with JD, Paul has steered FortuneBuilders, Inc. to the forefront of investing, despite a rocky real estate market.


Part 2 - What is The Passive Income Club?

Than founded the Passive Income Club as a formal channel through which the knowledge and experience we have gained can be disseminated to our students and fellow investors. JD and Paul are the principals of the Passive Income Club, and together they make up the brain trust that truly gives the Club its life and dynamic nature. The Passive Income Club is meant for the most elite investors who are looking to benefit from relationships that the top 1 percent of investors in the United States have forged and tested through experience. We constantly strive to not only provide the best opportunities for ourselves within the company, but for our members as well. In addition, we are constantly proving and testing theories in multiple real estate markets to ensure that we are on the cutting edge of investment strategy. Therefore, the Passive Income Club is not for everyone. Our members are only the most exclusive, forward-thinking investors who truly understand that the key to success is to surround themselves with the correct team that has the insider knowledge they seek. The Passive Income Club is built and designed around the principle of sharing knowledge. In order to do that, the Club holds semi-annual meetings across most major metropolitan areas. This enables members to succeed to their fullest potential. Naturally, these meetings and membership to the Club are by “Invitation Only,” and a brief qualification is required. Those who seek to simply gather information and not take action are politely refused entry. The Passive Income Club is not for those who are looking to get rich quickly or learn the latest fad of “no credit, no money down,” which is an impractical investment theory for building long-term permanent wealth. The Passive Income Club is for those who are looking to discuss investment strategies that net a high return, and who will subsequently take action to purchase the properties that are presented and discussed.

Attend Our Live Events Once you are a member of The Passive Income Club, you can attend our live mastermind meet-ings, where you will connect with our current business partners to: • Discuss how we build our own passive income; • Have access to the very latest deals that we are currently investing in; • And have the opportunity to put these high-performing assets in your portfolio.

Join The Passive Income Club Apply to become a member of The Passive Income Club by visiting ThePassiveIncomeClub.com or by calling 1-866-386-5815.


Chapter 2Retirement Myth

A massive plague is crippling our nation, and has been doing so for the past several decades. No, it is not obesity, AIDS or cancer. It is the Retirement Myth. Tell us if this sounds familiar: “If you work hard in school and get good grades, then when you graduate you will be offered a good job. At that job you will make a good salary, and if you are smart with your money, you will put some away each year to use for retirement when you reach the appropriate age. Social Security and your 401K plan will provide you with a very comfortable and meaningful retirement in reward for your years of diligent work.” Again, does this sound familiar? Did any of your parents ever sit you down and explain the 9-to-5 lifestyle to you?

We thought so. Well, let us decipher the statement above for you and unveil its true meaning in everyday life. Realistically, the aforementioned statement is saying, “If you trade your time for money for the first 65 years of your life, you will be underpaid and overworked for your entire career. Your self-worth will be tied to a dollar-amount-per-hour. No matter how much money you put away for your retirement, only the luckiest will be able to live a comfortable and enjoyable retirement after 65 years of intense labor and/or intense intellectual pressure.” Now, did any of your parents ever tell you that version of the 9-to-5 lifestyle? We thought so. Well, friends, let us be perfectly honest. How many of your 401Ks have turned into 201Ks in the last economic downturn? Do you trade your time for a dollar-amount-per-hour or per sale? How many of you are depending on Social Security or your government-taxed retirement fund to financially support your lifestyle once you retire? How many of you actually have a set-in-stone plan in regard to how you are going to retire with any kind of comfort? Do we have your attention yet? If not, then let us tell you the No. 1 question that we ask to anyone who questions why we invest in passive income streams through real estate. Are you ready? Are you sitting down? Good. Here it is:

If you take yourself out of your business, would you still earn an income?

Now, some people do not fully understand this question. So let us explain further. If you were to drop absolutely everything that you are doing right now in regard to your business, how much money would flow in each month? If you were to take your wife or husband to Italy for four months this year, would you still be making an income during those four months? If your kids want to take a two-week vacation across the United States to Disney World, are your income streams set up to support an income for those two weeks? If you were to stop everything right now and move to your dream location and not work another day in your life, do you have enough money to do so? If the answer to any of these questions is no, then you are a part of the Retirement Myth plague, and you need help.


If you think that what we are talking about is pie in the sky, smoke and mirrors, pipe dream type hype, then by all means stop reading and continue to work inside of your business until you can possibly retire one day. We wish you the absolute best of luck! We sincerely do. But if you are looking for something more, if you are looking to own your time and have a steady monthly stream of passive income - whether you punch the time clock that month or not - then keep reading. Learn from us, investors who have been through the ringer on both sides of the game; it is better on the other side. Life is better when you are no long tied to a job, but rather, you choose to work. Financial freedom is a phenomenal thing. But there is a reason that less than 1 percent of the entire United States has achieved it to date. That reason is the Retirement Myth. We are taught at every level of higher education that if we put our nose to the grindstone and work hard, we will be rewarded with a large net worth. That net worth will in turn be our cushion that we live off once we stop working, should we be lucky enough to build up a net worth so large that we can afford to retire. Let us tell you, friends, this is a sickness that is curable! There is a way out of this vicious cycle. And it lies in the power of the Passive Income Club. If you were to take 100 Americans today, who worked from the ages of 25 to 65, and you put them through a financial profile upon the age of 65, most Americans would be shocked at the results. First off, 36 of them would be deceased. Next, 54 of them would be dependent upon friends, relatives and whatever is left of Social Security to simply get by and live hand-to-mouth until they join the 36 who are already passed. Additionally, five of them will still be working because they ran the numbers and understood that they are not in a financial situation to retire. Therefore, a grand total of four Americans - four out of 100 - would have enough socked away in a retirement fund or under the mattress to retire comfortably. If you are doing the math along with us, which we know some of you are, you know as well as we do that we missed something up above. Whom did we miss? There is one remaining individual, the one out of 100 that chose a different path and has achieved financial freedom. How did this one person get so lucky? Keep reading. We will tell you.

PIC’s Trusted Partners Once you are a member of The Passive Income Club, you will meet with passive income experts that you can trust at our live seminars. Our business partners will show you how to achieve financial freedom by presenting you with sound, solid investment properties in stable markets.


Trusting Your Investments“I met with [The Passive Income Club] and they told me this is what they do, this is a process that we use and we make it happen. Then, the first house I bought with them they did what they said they were going to do. I had a good experience there, so I wanted to do it again. I did that four times last year and each time they did what they said they were going to do. That’s very important to me because that builds the trust.” —Mark Anderson


Chapter 3Why Real Estate?

The fact is that the most successful and wealthy individuals in the world have either made their wealth in real estate or hold their wealth in real estate. There are several main advantages to investing in real estate in comparison with more conventional forms of building wealth. Say, for argument’s sake, you have $100,000 to invest. Traditional and conventional knowledge would tell you to invest that money via your 401k fund and put it into a money market, CD or even an annuity. The best and brightest minds on Wall Street have averaged a 7 percent return on their money in the past 20 years. Remember that figure: 7 percent. This means that if you follow

the traditional methods of investing and put your $100,000 into paper-based assets or a money market, you can expect, at best, a 7 percent return, and, at worst, your investment to have no hard value backing it. The United States currency was taken off the gold standard years ago, and since then, inflation and deflation has racked our economy and created volatile markets. When your stock, which is making 7 percent at best, decides to take a turn for the worse, what are you left with? A piece of paper that may or may not be worth its weight in gold until the market corrects itself, and hopefully, you can recoup your investment and start fresh with another paper-backed asset. Conversely, compare the aforementioned scenario with a new scenario in which an individual chooses to invest $100,000 in real estate, a hard asset. The investor who chooses to do this receives a multitude of tax advantages with this investment, equity that is passively built up in the property over time, any appreciation that the market will bear, and most importantly, the cash flow that the property will provide if purchased in the correct way. On average, a real estate investor will make a 10 percent return on his or her money when investing in the correct markets and purchasing properties in the correct way. But what happens when or if everything goes wrong, and the market tanks? Well, in the former scenario, an investor is stuck with a piece of paper with a supposed monetary value attached to it. In the latter scenario, the investor who decided to invest in real estate has a hard asset in the form of a house, land and deed that the investor owns 100 percent. What would you rather have in a depressed market that is wrought with inflation? A piece of paper that an institution says is worth X amount of dollars or a piece of property that is worth a tangible value? It is your choice.

Part 1– Why Real Estate Now?

We know what some of you are probably thinking: “All I hear about is how bad the real estate market is these days. It is all over the news, and all the talking heads and newspapers are saying that this is the end of real estate as we know it.” Well, for the most part, they are right. The years 2000 to 2010 do mark the end of real estate as we knew it. The market did crash, and prices were driven way down to almost rock bottom levels; and a lot of people lost a lot of money. However, what else happened?


Chapter 3Why Real Estate?

The fact is that the most successful and wealthy individuals in the world have either made their wealth in real estate or hold their wealth in real estate. There are several main advantages to investing in real estate in comparison with more conventional forms of building wealth. Say, for argument’s sake, you have $100,000 to invest. Traditional and conventional knowledge would tell you to invest that money via your 401k fund and put it into a money market, CD or even an annuity. The best and brightest minds on Wall Street have averaged a 7 percent return on their money in the past 20 years. Remember that figure: 7 percent. This means that if you follow

the traditional methods of investing and put your $100,000 into paper-based assets or a money market, you can expect, at best, a 7 percent return, and, at worst, your investment to have no hard value backing it. The United States currency was taken off the gold standard years ago, and since then, inflation and deflation has racked our economy and created volatile markets. When your stock, which is making 7 percent at best, decides to take a turn for the worse, what are you left with? A piece of paper that may or may not be worth its weight in gold until the market corrects itself, and hopefully, you can recoup your investment and start fresh with another paper-backed asset. Conversely, compare the aforementioned scenario with a new scenario in which an individual chooses to invest $100,000 in real estate, a hard asset. The investor who chooses to do this receives a multitude of tax advantages with this investment, equity that is passively built up in the property over time, any appreciation that the market will bear, and most importantly, the cash flow that the property will provide if purchased in the correct way. On average, a real estate investor will make a 10 percent return on his or her money when investing in the correct markets and purchasing properties in the correct way. But what happens when or if everything goes wrong, and the market tanks? Well, in the former scenario, an investor is stuck with a piece of paper with a supposed monetary value attached to it. In the latter scenario, the investor who decided to invest in real estate has a hard asset in the form of a house, land and deed that the investor owns 100 percent. What would you rather have in a depressed market that is wrought with inflation? A piece of paper that an institution says is worth X amount of dollars or a piece of property that is worth a tangible value? It is your choice.

Part 1– Why Real Estate Now?

We know what some of you are probably thinking: “All I hear about is how bad the real estate market is these days. It is all over the news, and all the talking heads and newspapers are saying that this is the end of real estate as we know it.” Well, for the most part, they are right. The years 2000 to 2010 do mark the end of real estate as we knew it. The market did crash, and prices were driven way down to almost rock bottom levels; and a lot of people lost a lot of money. However, what else happened?


More millionaires were created during that time than ever before, not to mention themillionaires who will be created in the ensuing climb back to a median level.

When the housing price bubble burst, all the amateurs and wannabes were sidelined, as they should have been all along. Those of us who flourished during the past decade understand the value of leveraging - without overextending - ourselves, investing in solid markets that provide cash flow and making sound and smart real estate investments. Take FortuneBuilders, Inc. and CT Homes, LLC as an example. We have grown over 3,648 percent three years. Unbelievable? Absolutely not. Let us tell you why. Every economic downturn in which a price bubble bursts, and housing prices are driven down, is an absolute gold mine of an opportunity for an educated investor. Let’s delve into the details of why this is so:

1. Interest rates are at historic lows.

The real estate investor in today’s market has an incredible opportunity to be able to leverage a tremendous source of capital via conventional financing at some of the lowest interest rates in history! What does this really mean for you the Investor? It means that instead of having to pay 7 to 12 percent on borrowed money that you use to fund your deals, you can instead pay 4 to 5 percent for the use of that money. In turn, this means increased profits and increased margins that make unattainable deals attainable.

2. The financial crisis has caused a flood of foreclosures to be released into the

housing market.

This is an absolute gold mine for investors. Foreclosures and short sale properties may have a negative stigma attached to them when uneducated and inexperienced investors initially look into these opportunities. For the experienced investor, however, purchasing a short sale or a bank–owned foreclosed property is a tremendous opportunity to purchase a property at an incredible discount—often up to 30 or 40 cents on the dollar! What does this mean for you, the investor? This means that you can buy low - and sell low - and still make a tremendous profit!

3. There is a tremendous demand in the current market for rental properties.

In the depressed economy that we are currently experiencing and has driven many people to extreme efforts in order to save money, the option of renting a primary res-idence becomes incredibly attractive to a very large population of blue-collar Americans. Typically when renting, a family can live in an incredibly attractive home in a phenomenal neighborhood for approximately half the cost of a mortgage payment. What does this mean for you, the investor? You have an extremely large pool of potential renters to put into one of your investment properties, which creates passive income and gets you on track to building true wealth!

4. The opportunity for cash flow is tremendous!

All the aforementioned points - low interest rates, discounted properties, increased population of renters - truly come together to create the perfect storm of investing. These factors all come together to form an equation that equals one thing: cash flow!


You, the investor, have an incredible shrinking window of opportunity to capitalize on the current market that is prime for you to create passive wealth. The best way to create passive wealth in today’s economy is to utilize the ability to purchase a property below market value and have a qualified tenant in your property paying, not only your mortgage, but a monthly check made out to you!

Now let us tell you why.

Part 2 – The Key to Wealth-Producing Assets

People frequently approach us to ask, “How in the world do I actually achieve financial freedom?” My response is always the same: “You must develop income–producing assets.” This is a very easy concept to understand. Financial freedom is achieved by having enough assets in your possession to produce a passive income that is large enough to sustain you and your lifestyle. Simple enough, right? Then why do less than 1 percent of individuals actually achieve it? The reason goes back to the Retirement Myth in which individuals trade their time for money and invest in paper assets that do not produce passive wealth, and still hope to live off what they have accumulated when they stop working. These people are not wealthy! Most individuals think about money in terms of possessions or riches. They ask, “How many riches can I acquire?” The boat, cars, jewelry, multi-million dollar home; all of these are riches. We are not saying that any of these are bad possessions to have. We are simply saying that none of these possessions help you acquire more income, and therefore, do not produce wealth. See the difference? If one of your possessions does not provide an income for you on a monthly or annual basis, then it is a liability rather than an asset. If you want to become wealthy, then your primary focus is to acquire assets and limit your liabilities. People who truly understand what it means to be financially free are single-mindedly focused on acquiring as many income-producing assets as they possibly can. Imagine for a moment that you have a monthly budget of $7,000 for all your bills, plus all your lifestyle and entertainment needs. What if the assets that you have accumulated were able to produce $7,000 a month for you, whether you show up to work that month or not? Are you interested in this concept? Are you nodding your head? We thought so. Let’s put it this way: If you were to stop working tomorrow, would you have enough income-generating assets to be able to maintain your current lifestyle for the rest of your life? If your answer is yes, then good for you. If your answer is no, then let us help you get there. The secret is assets – such as real estate – that produce monthly cash flow, enough for you to live on for the rest of your life. That’s what we call financial freedom.

Part 3 – Why Cash-Flowing Real Estate?

Some of you are probably saying, “All right, I get it already! I need to invest in income-producing assets to create financial freedom. Well, how in the heck do I find profitable investments?” Great question. Let’s delve into that! Throughout the course of recent history, the most consistent and persistent income-producing


assets in real estate have been cash-flow properties. This is a very simple principle, and it has produced an enormous amount of wealth for countless individuals for many years and will continue to do so in the near future. Let us paint a picture for you. John Doe has $100,000 to invest. He decided to invest that money into an income-producing asset in the form of a cash-flow property. John acquires a cash-flow property and finds a tenant to reside in that property, who will pay him rent each and every month. The rent covers taxes on the property, insurance and management costs. Whatever money is left over after that is income going straight back to John. This is the tried and true principle of passive income wealth-building that has been in practice for years. John just created a passive income stream via real estate that, on average, will make him a 9.5 percent return on investment (ROI) monthly. Now, let’s introduce the idea of leveraging the bank’s money. Imagine that John is able to qualify for a bank loan for this property. Also imagine that John is able to borrow that money at historically low interest rates due to the current nature of the market and is now only putting 20 percent down to purchase this property. In this scenario, John’s tenant, not only pays the property taxes, insurance and management costs, but also pays the monthly mortgage amount in the form of his monthly rent check. Here, John produces an average income of 18 percent ROI on his initial 20 percent investment - each and every month! This is because John realizes the power of income-producing assets in conjunction with another powerful principle of real estate investing: leveraging the bank’s money! Not only has John produced a stream of passive income, but he has also created a situation that includes tax benefits! John realizes what 1 percent of the wealthiest individuals in the world have already figured out: holding wealth in real estate creates a way to lower taxable income and write off a portion of a property’s value for the next 27.5 years, due to the principle of depreciation. John did not actually lose any income (in fact, he is producing passive income), but he is able to write off that income as non-taxable due to the nature of depreciation, which we are seeing in the market today. This is yet another advantage of having cash-flow properties in today’s market! John has also created one other benefit for himself, and that is equity. When someone purchases a property at a discount and the resale value of that property is higher than the initial purchase price or investment, the monetary difference between the purchase price and resale value equals the amount of equity in that property. For example, John purchases a property for $100,000 because the property is a foreclosure and can be purchased at a deep discount if negotiated correctly. However, the resale value of the property would actually be $120,000 if he were to list it for sale in the current market. Therefore, not only has John created a passive income stream with an extremely high ROI, but he has acquired an asset that is worth more than what he initially paid for it! As the market corrects itself and housing prices continue to climb back to historical averages, the equity that John built will passively increase with each and every climb in the market. So when and if John ever decides to sell the property, his initial ROI will be recouped; plus, John will have gained equity and acquired a substantial amount of passive income! Do we have your attention yet? You might say, “This is great, but I do not have the time to invest.” Well, investing does not have to take much time. You can start with just a few hours a week, and then build up. If you knew you could eventually replace your work with passive income, would you find the time? Think of it this way, do you still want to be doing what you are doing slogging away day and night when you are 50 or 60 or 70? If


you take the time now to set up your investments correctly, they will continue to provide you with income, so you can be free the rest of your life.

Added Benefits of The ClubMembers of the Passive Income Club have access to: • Webinars from the gurus or experts; • Case studies.


Saving Precious Time“Using your system was one of the easiest things I’ve done. I didn’t have enough time to do all the steps in investing, like locating the houses, finding the people to rehab the houses, then finding the tenant and managing the tenant. I have a full time job, so I don’t have the time to do all that. Well, the Passive Income Club is able to do that for me!” —Brian Douglas


Chapter 4How the Passive Income Club Benefits You

We created the Passive Income Club to be able to pass along the absolute best opportunities to obtain income-producing assets to our fellow investors and clients. We have scoured the entire market, leveraged our behind-the-scenes contacts and created multiple opportunities that are not available to the general public; and we have given our members exclusive access to these opportunities. For our members, the beauty of the Passive Income Club is that they get to

leverage the knowledge base that we at FortuneBuilders, Inc. have created via our extensive list of contacts. Traditionally, the institutional lenders and investors, asset managers, hedge fund managers and turnkey investment providers that we come into contact with are unreachable for the average investor. How-ever, the behind-the-scenes deals, as well as a ROI that - until now - only the wealthiest of the wealthy have been able to access, are at our members’ fingertips! With our current top position in the national investment market, we at FortuneBuilders, Inc. are able to handpick investment deals from the cream of the crop. This means that we are able to share these prime deals with our members and give them the same access that we have. As you can imagine, a countless number of companies have been beating down our door to work with us. We are able to weed through the options and, not only steer our hard-earned money into a position that creates the passive wealth that we have been discussing, but we are able to guide our members in the right direction to help them achieve their goals of financial freedom, as well. For PIC members, we only recommend the highest level of investment opportunities that create 100 percent passive income for them and that we at FortuneBuilders, Inc. invest in ourselves. We do this for two main reasons. Firstly, this creates a level of security for our members, who know for a fact that they are investing in the same deals that we are, often obtaining an investment that is located next door to investment properties that we own! Secondly, only recommending passive investments to our clients provides them with the ability and time to enjoy the financial freedom that they have worked so diligently to create! At the Passive Income Club, we have created more than $100 million in passive wealth for our members. Yet still to this day, there are people who want to go out and blaze their own trail and attempt to do this on their own. Paul met a potential member who simply could not see the value of working hand-in-hand with the Passive Income Club to create wealth. This client told Paul that he wanted to go out and find investment properties by himself and simply did not want to follow the proven path to success that the Passive Income Club provides.

Paul - once he got over his shock - wished the individual the best of luck and even pointed him in


the right direction. Later, Paul called this individual to see how he had fared. The conversation went like this: “Paul, after speaking with you, I went out and tried to find a deal on my own in one of the markets that you recommended. I spent three weeks evaluating the different deals that were available and was unable to even put an offer on half of the properties that I was researching because a cash buyer came in and purchased it before it went to auction,” he said. “Once I finally found a property that I was able to put an offer on and that fit my criteria, I found out - after putting it under contract - that the foundation was unsound and there was a cloud on the title! So, six weeks into the process, I had a property with an unsound foundation and clouded title, and all my investment capital had been used up! I spent the next six weeks trying to clear up the title issues, all the while dipping into my personal savings fund to resolve the foundation issues.” He continued: “Presently, I have already had to evict two tenants from the property after I realized that they were unsatisfactory and had trashed the property on several occasions.” “All in all, this has been a horrible experience! I wish I had taken your advice from the beginning and followed your proven path, rather than try to do it on my own. These past six months have been a nightmare!” Can you imagine if that was you? In a matter of six months this individual, not only lost his investment capital, but is now stuck with an asset, which is really a liability because it is losing him money each month. Now, compare this situation with the experience of Roy S. from New York: “Thanks to your turnkey system, I have been able to purchase six houses in the past six months. All of them provide positive cash flow, and all of them are rented out. I have owned and managed properties in the past, and I have fewer concerns about my houses now that I am located 1,200 miles away from them than when I was located 30 miles away from them.” And, by the way, Roy’s monthly passive income is more than $3,000 a month and has an average of 15 percent ROI! Are you interested in a situation like that? Are you nodding your head? We thought so. The beauty of the Passive Income Club is the security it provides and the proven path that is laid out for its members to follow. Instead of you having to find deals, rehab the purchased properties, find tenants for the purchased properties, find property managers for the purchased properties, ensure that the title on the properties is not clouded, and ensure that the holding of your properties is in a legal and secured entity all on your own, you can take advantage of the institutional contacts that we have made and let our experts do it for you. We are absolute experts on how to create wealth for our members and ourselves in a 100 percent passive nature. Here at the Passive Income Club, we are the leading experts of investing in today’s real estate market. Our team has successfully tailored customized plans for a handful of our most elite members, which total more than $100 million in wealth! As we said, we only surround ourselves with the best of the best.


the right direction. Later, Paul called this individual to see how he had fared. The conversation went like this: “Paul, after speaking with you, I went out and tried to find a deal on my own in one of the markets that you recommended. I spent three weeks evaluating the different deals that were available and was unable to even put an offer on half of the properties that I was researching because a cash buyer came in and purchased it before it went to auction,” he said. “Once I finally found a property that I was able to put an offer on and that fit my criteria, I found out - after putting it under contract - that the foundation was unsound and there was a cloud on the title! So, six weeks into the process, I had a property with an unsound foundation and clouded title, and all my investment capital had been used up! I spent the next six weeks trying to clear up the title issues, all the while dipping into my personal savings fund to resolve the foundation issues.” He continued: “Presently, I have already had to evict two tenants from the property after I realized that they were unsatisfactory and had trashed the property on several occasions.” “All in all, this has been a horrible experience! I wish I had taken your advice from the beginning and followed your proven path, rather than try to do it on my own. These past six months have been a nightmare!” Can you imagine if that was you? In a matter of six months this individual, not only lost his investment capital, but is now stuck with an asset, which is really a liability because it is losing him money each month. Now, compare this situation with the experience of Roy S. from New York: “Thanks to your turnkey system, I have been able to purchase six houses in the past six months. All of them provide positive cash flow, and all of them are rented out. I have owned and managed properties in the past, and I have fewer concerns about my houses now that I am located 1,200 miles away from them than when I was located 30 miles away from them.” And, by the way, Roy’s monthly passive income is more than $3,000 a month and has an average of 15 percent ROI! Are you interested in a situation like that? Are you nodding your head? We thought so. The beauty of the Passive Income Club is the security it provides and the proven path that is laid out for its members to follow. Instead of you having to find deals, rehab the purchased properties, find tenants for the purchased properties, find property managers for the purchased properties, ensure that the title on the properties is not clouded, and ensure that the holding of your properties is in a legal and secured entity all on your own, you can take advantage of the institutional contacts that we have made and let our experts do it for you. We are absolute experts on how to create wealth for our members and ourselves in a 100 percent passive nature. Here at the Passive Income Club, we are the leading experts of investing in today’s real estate market. Our team has successfully tailored customized plans for a handful of our most elite members, which total more than $100 million in wealth! As we said, we only surround ourselves with the best of the best.


Exclusive Opportunities Once you are a PIC member, you can attend our live meetings, where we will give you exclusive access to hundreds of turn-key ready properties in safe, beautiful suburban family neighborhoods. Countless hours of painstaking research is already done for you! All you have to do is choose the property that appeals to you and fits your budget!


Get the Whole Deal“What’s easier than having somebody do everything for you? And that’s a plus…they walk you through the process; they’re there step-by-step, whatever you need from start to finish. It’s basically just a complete deal.” —Shayna Rattler


Chapter 5Four Pillars of Investing

We at the Passive Income Club have Four Pillars of Investing. These pillars are our fundamental criteria that we stand behind and demand in each and every one of our Passive Income Investments. Let’s dive into them:

Part 1 – Pillar No. 1 - Choose the Right Market

The importance of choosing the correct market to invest in is paramount in our minds, and in the minds of every professional investor, when initially exploring investment options. Choosing the wrong market for the wrong reasons will completely sink every deal that an investor attempts to

do. We do not care how deep of a discount you can get upon acquisition. If that deal is located in the wrong market, then it simply will not work. There are several things that we look at when we initially evaluate real estate markets. The first and foremost is the percentage of renters in that market. The national average of renters always fluctuates, but it typically sits around 22 percent. The larger the percentage of renters are in a certain market, the larger the opportunity that you have as the investor to quickly and efficiently find a qualified and vetted tenant to occupy your property and provide you with monthly cash flow. At the Passive Income Club, we often provide our members with investment opportunities that are located in markets that bear a 48 percent rental population, which is more than twice the national average! We also invest in these same high-rent markets ourselves. Another factor that we take into consideration is the rate of recent job growth and development in a particular market. For example, we at the Passive Income Club look for emerging markets in which multiple Fortune 500 companies are located. We also like to see that some kind of increase in job creation has occurred in the targeted area in the past several years. Any market that is marked for expansion is always attractive, and we here at the Club have the ability to invest in markets that foresee the creation of 1,000 or more jobs in the near future. This means that the markets that we are investing in will continue to grow, housing opportunities will continue to be in high demand, and appreciation is soon to follow! Economic stability is another key factor when determining which markets to invest in. Economic stability may be supported by a market’s ability to attract multiple national companies, which bring in a high amount of jobs. However, any market that has experienced massive economic swings in any direction—either positive or negative— is a red flag for professional investors and should be looked at with a keen eye to determine the overall economic stability of the market before any kind of investment in that market is made. For example, Memphis, Tenn. has experienced slow and steady growth over the past 20 years, mainly due to the large number of Fortune 500 companies located there. Additionally, Memphis, Tenn. is also home to a large military base, as well as the second largest cargo airport in the world,


both of which have also contributed to the slow and steady growth that has occurred in the area in the past two decades. In contrast, California and Florida have experienced high growth at times, as well as a tremendous slow down from time to time. But Memphis, Tenn. has been the steady turtle, slowly winning the race, in regards to having a stable economy for the last 20 years. The Passive Income Club happens to have an extremely strong presence in Memphis, Tenn. for this very reason!

Part 2 – Pillar No. 2 - Source the Right Type of Deals

The Passive Income Club’s team evaluates every deal and opportunity with two main points of qualification in mind:

1. Can I purchase this property significantly under value?

2. Is this property located in a market that will continue to support its value and the production of consistent cash flow?

The first point of qualification in order to source the right type of deal is very simple and straight-forward. As a professional investor, you need to be able to purchase a property at a discounted price in order to produce income off the property. If you purchase the property at market value or above market value, there will be no equity in the property, and the cash flow will get absorbed by high fees, which include taxes, insurance, management fees, etc. If you purchase a property well below market value, you are able to create a margin, so you can pull cash flow income out of the property, while still accounting for taxes, insurance, management fees and so on. The second point of qualification to source the right type of deal is one that investors across the board struggle with and have an extremely hard time quantifying. There are two main factors to look at here: economic characteristics and subjective characteristics. One factor is comprised of the economic characteristics surrounding this deal. For example, look at the type of neighborhood the property is in. Find out if other properties in the area are owner-occupied (does the current owner of a property live in the property or offsite?), have high eviction rates (have a high percentage of tenants in surrounding properties been evicted for late payments or something of a similar nature?), or have high owner occupancy rates (again, what percentage of owners live onsite?). The second factor is the comfort level of the property in question and the surrounding neighborhood. This one is an intangible factor. It is hard to quantify, but can be boiled down to one question: Would you take your spouse, children or family there? If we have even the slightest hesitation about the answer being yes, then we do not invest in the deal at hand. We also do not recommend it for our members. This seems like a very simple way to approach a very convoluted principle. However, if a deal is located in a good neighborhood and will attract a quality tenant who will take pride in the property and the community, it is more than likely that the deal in question will produce consistent and stable passive income.


Part 3 – Pillar No. 3 - Cash Flow (Your Money Must Make You Money)

The Passive Income Club’s third pillar of investing is once again very simple, yet extremely powerful. The Passive Income Club has a very basic criterion for every single deal that is passed to our members. The criterion is that the deal must be structured in a way that makes our members money work for them in a passive way. Essentially, the third principle of investing is that our members’ money needs to be making them money! The Passive Income Club does not subscribe to the “Buy, Hold and Hope” strategy that we have seen many investors abide by in the past 10 years. Hope is not an investment strategy. If you meet a “guru” or investor who tells you to bank on appreciation in the hope that your investment will someday pay for itself and increase your net worth, you should run in the opposite direction as quickly as you pos-sibly can. Very simply, the only reason to purchase an investment property in today’s market is to obtain a property that produces cash flow. If a property does not produce cash flow, you should not invest your hard-earned money in that deal. Let us say that again. Cash flow is the only reason that you should be investing in today’s market. If the property has equity, that is an added bonus. We have investors approach us in an attempt to pitch us on the idea of a joint venture investment that is entirely based on the prospect of appreciation and the market bouncing back. They ask us, “Than, Paul and JD, don’t you all believe that the market is going to bounce back and correct itself?” Our answer is, “Absolutely, we think the market will bounce back. But in the meantime, we are going to invest our money in a hard-performing asset that brings us passive income. When appreciation does start to come back into the market, our equity position will only increase, and we will have made a boat-load of wealth while you are investing in the hope of appreciation paying off. Hope is not a strategy. Producing passive cash flow is!” We also have investors continually ask us, “Guys, why don’t you invest in cash-flowing proper-ties that are right in your own backyard in California?” Our response is, “If you can tell us where these cash-flowing properties in California actually are, we certainly will invest in them, but we cannot find any that fit our criteria!” The reason that some markets are not solid passive investment markets is really very simple. Home prices are far too expensive, and any kind of cash flow gets eaten up with high property taxes, management fees and the high mortgage payment, to the point where our return is well below 7 percent. Markets like California have a median home price far too high for the average home to create a solid cash flow situation. We simply cannot charge enough rent to make the property produce cash flow. Some of you may argue that we are wrong and that you have a California market in your head that your aunt or great uncle sees an opportunity for possible cash flow. Well, let us ask you these questions: Does at least 48 percent of the population in the market in which the property is located rent their home? Does the market have a growing and steady economy? Has the market proved to be steady over the past 20 years? Is it located in a neighborhood that we would take our families to? Probably not. Once again, you will find an outlier in every group who thinks that his or her blazed trail is better than following the proven path of success. We here at the Passive Income Club are not looking for trail blazers. We are looking for individuals who understand that following our proven criteria for investing – markets that we, ourselves, are investing in – is going to get them to where they want to be financially.


Part 4 – Pillar No. 4 - Good Property Management Equals Passive Income

The fourth and most important pillar of investing rings true for any real estate investor, and especially for us at the Passive Income Club. The key to the fourth pillar of investing is to find the right property management company to make your investment truly passive. If you have ever been in a situation in which you were self-managing your properties, you know how much of a hassle it can be. Professional real estate investors are not in the business of fixing clogged toilets and broken doorknobs; we are in the business of creating wealth. We can honestly say that we have tried to self-manage “Buy and Hold” properties in the past, and it is a nightmare! Never again do any of us want to wake up to a phone call at 3 a.m. about a burst pipe and a flooded kitchen because Johnny flushed his little sister’s Barbie doll down the toilet! Instead, we are going to create enough of a margin in our investments to hire a property management company to do that for us - and still net an 8 to 30 percent ROI! That is how to truly create Passive Income! Making your investments passive is what the Passive Income Club is all about. On average, our members spend less than 10 hours a year on their properties and most of that is eaten up by driving time to the bank to deposit their checks and closing on the property in the first place! If you were to self-manage your properties and spend less than 10 hours a year doing so, 99 percent of the time, you would have an absolute disaster on your hands! Investing your money in a passive investment is not about creating wealth that is dependent on your time or your labor; it is about automating the system so that your wealth is dependent upon others working for you to create a steady and consistent form of income—whether you put on a hard hat that month and get to work or not! Being as that this is the most important pillar, we here at the Passive Income Club take the vetting of our property management companies extremely seriously. We spend a great deal of time doing background investigations and vetting our property management companies to make sure they align themselves with our high standards. Take, for example, one of our current passive income opportunities. Our property management company in Memphis, Tenn. has more than 750 properties under their management with at least a 94 percent occupancy rate. Look at those numbers again folks: 750 properties that are 94 percent occu-pied, and 95 percent of the time, the property management company gets the properties rehabbed and tenanted for us in less than 30 days! There are not many property management companies that can float those kinds of statistics and have the data to back them up. When researching a property management company, do yourself a favor and save yourself a lot of time by asking three questions:

1. What is the company’s track record? I.e., how many properties does the company

currently manage?

2. What is the occupancy rate over the life of those properties?

3. What is the eviction rate?

If a property management company is not forthcoming with this information and does not provide supporting data to validate their claims, keep shopping and take your business elsewhere! When hiring a property management company to handle your investments and make them truly passive, the


most important issue is to determine that the company has a proven track record and the security of supporting data, all of which comprises a property management company’s level of experience.

Connect with Excellent Property Management CompaniesAt PIC, we will connect you with property management companies that: • Are reputable; • Have high occupancy rates; • We personally use with our own properties.


Diversifying Investments “They enable me to be an investor. I have purchased four houses through them since April of last year. My last purchase was in November. So in a six-month period I purchased four houses. I’d highly recommend it to any potential investor that wants to diversify their portfolio.” —Lynn Mitchusson


Chapter 6Sources of Financing

One of the greatest success stories to come out of the Passive Income Club is a phenomenal case study in the level of experience and phenomenal resources that we bring to the table for every one of our members. One of our earliest members came to the Passive Income Club and approached JD with a simple request. He wanted to invest the $1.1 million he had acquired during his time in medical practice. It was sitting in his 401k and only making him 4.5 percent annually. JD talked to him about the opportunity that the Passive Income Club was investing in and recommending for our members, and had him set up an appointment with Paul Shively, our lead wealth advisor.

Paul sat down with this gentleman and within two minutes the man told Paul, “I am ready to invest. Where do I sign?” Paul politely explained to him that this was not how we do business and that he could not allow the new member to sign any contracts until he had gone through a full goals profile along with a financial profile to ensure that this member was taking full advantage of his current situa-tion. If Paul had simply allowed this member to blaze his own trail, yes, the member would have acquired passive income-producing assets. However, the member would have deployed all of his cash and not reached his full potential in the process. Instead, Paul was able to use the bank’s money and leverage this for the member in order to get him into twice as many properties. The member had $400,000 left over to invest in a “hard money” lending deal, which gave the member a 12 percent return through his newly formed self-directed IRA. This member now has a passive income portfolio worth more than $2 million and is getting an average return of 19 percent ROI on his money each month! This story shows the power of working with the Passive Income Club. When a member can utilize and leverage our industry contacts in the fields of self-directed IRAs, Roth 401k rollovers, hard-money lending, conventional finance, non-recourse loans, institutional lending and credit partners, the member immediately propels himself or herself to the forefront of the nation’s league of investors. By virtue of simply being a member, individuals are able to access to and utilize these contacts in a way that is nearly impossible, without having the national recognition and proven track record of success that we have built with FortuneBuilders, Inc. and the Passive Income Club. If nothing else, this is the sole reason you should be getting on the phone as quickly as you possibly can with Paul or a member of his team of expert wealth advisors. This team helps our members achieve that ever-elusive but always-attainable goal of financial freedom! Our team will sit down with


you to build a truly customized plan to help you take control of your financial future and start you on the path to financial freedom!

Gain Control of Your FinancesLet us help you on that path to wealth. Visit ThePassiveIncomeClub.com and attend one of our webinars led by our financial experts.


Truly Passive Income “I presently own three properties that I bought through [PIC] and I couldn’t be happier. The team at [PIC] is unbelievable. Literally, every month I get a report about the properties with a check for each one. Every time, I have called them about anything they have gotten back to me right away. Finally, I made a real estate investment that is truly passive.”—Doug Cosby


Chapter 7Your Wealth-Building Consultation

When you sit down with one of our wealth consultants, you will be taking the first step to achieving what 99 percent of individu-als in the world will never achieve: financial freedom. Our wealth consultants are absolute experts when it comes to meeting you on your level and building a customized plan for you that helps you get where you want to go via an agreed upon plan of action with step-by-step implementation guidelines for you to follow. In order to determine the correct course of action for you, your wealth consultant will gather a brief personal profile. This profile includes:

• A brief description of your investing history;• A brief financial profile to see where you currently are and what types of investments you qualify for; • A detailed goals profile that will outline your financial and personal goals; • The action plan that you currently have in place to achieve those goals.

Once this profile has been established with your wealth consultant, they will be able to build a customized plan with you, which is specifically tailored to your needs and level of experience. This plan will include an agreed upon action plan with specific step-by-step implementation goals for you to follow to help you stay on track and achieve your goals. This process has worked for more than 300 investors worldwide and has helped create more than $100 million in passive wealth for our clients. With its clear implementation guidelines and ability to adapt to each individual, our system is simple, yet powerful and effective. Join the Passive Income Club today, so you can get started on the road to financial independence!

Join The Passive Income Club

Apply to become a member of The Passive Income Club by visiting ThePassiveIncomeClub.com or by calling 1-866-386-5815.

Build Cash Flow for Financial Freedom

ThePassiveIncomeClub.com

1-866-386-5815

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