Inside Trump Tower

Education for Free

Wed, 04 Nov 2009 09:17:00 EST

College Scholarships Are Available for Everyone

There are hundreds of thousands of scholarships available from many different sources, including private organizations and schools. But thousands of them go unclaimed each year--even as many students struggle to simultaneously work and pay for college. Too many students work full time while attending school when they could be getting free money instead.

Did you know there are thousands of scholarships available to anyone who can qualify? It's true. Often times, there is no competition, as many scholarships are simply unknown. Most people either don't know such scholarships exist or they never think to search for them. Thousands of dollars go unclaimed each year as scholarship deadlines come and go without a single applicant.

And that's a shame. Scholarships are free and can be used to pay for any higher education costs, such as tuition, books and living expenses. Best of all, this free money never needs to be repaid!

Types of Scholarships
Before discussing how to find scholarships, let's look at scholarships in general. The five most common scholarships can be classified as:

Student-specific: These are scholarships where applicants must initially qualify by race, gender, religion, family and medical history, or many other student-specific factors.
Merit-based: These scholarships are based on a student's athletic, academic, artistic or other abilities, and often factor in an applicant's community service record and extracurricular activities.
School-based: These are scholarships offered by colleges, and are often for larger amounts than private scholarships.
Career-specific: These are scholarships awarded by a college or university to students planning to pursue a specific field of study.
Need-based: These scholarships are based on the student and family's financial record.

Finding Scholarships
Not too many years ago, students tediously poured through library reference books in search of scholarships. These days, the advantage of using Internet search engines make it much easier and less time-consuming for students to find what they're looking for.

These tools typically ask 10-20 or more questions to build a student profile against which it will attempt to match scholarships. The questions will ask about test scores, GPA, family income, age, ethnicity, religious affiliations, disabilities, student activities, civic organization affiliations, etc.

Below are some suggestions on how to make the best use of these tools:

Use FREE search tools - Search tools that charge a fee are no better than free ones. The only downside to free search engines is that they may use your information for marketing purposes.
Start early - Many scholarships have deadlines in the fall so begin your search ahead of time.
Use more than one search tool - Although most scholarship databases have substantial overlap, there are sometimes scholarships that appear in one database and not in another.
Avoid application fees - Most scholarships that charge an application fee should be ignored, as they are often scams.
Scholarship match tools aren't perfect - Searchers can't assume that they are eligible for all the scholarships that are returned from a search tool; they'll still need to review the requirements.
Keep looking after college starts - If a student changes majors, becomes involved in new activities, or his/her financial situation has changed, more scholarships may become available. Even if there have been no changes, new scholarships are often added. So keep looking.

Think Local
In addition to using the Internet, students should also look for local scholarships. It is typical for students to find scholarships in their home region, and oftentimes these won't be listed in any Internet database. Local scholarships tend to be less competitive than those available nationwide (because the eligible population is smaller).

For example, local libraries and recreation departments may offer information about local scholarships. Students should also ask about scholarships at religious or civic organizations in which they are involved. They may even want to contact larger local businesses to ask if they offer scholarships to local students.

Here's other places to look:

Non-profits, volunteer organizations, and charitable trusts
High school guidance counselor
Parent's or student's employer
Community foundations
Labor unions
Religious houses of worship
Chambers of commerce
Local college and universities

Unique Hobbies, Interests, and Characteristics Everyone is unique, and some of the best scholarships available are for students with distinctive interests, abilities, or family histories. Just to show you how all-encompassing scholarship opportunities are, here are a few outrageous examples:

In the Chick and Sophie Major Memorial Duck Calling Contest, applicants show off their best duck calls in competition for scholarship money.
Tall Clubs International offers a scholarship to men who are taller than 6'2” or women who are taller than 5'10”.
Duck brand duct tape offers scholarships based on the imaginative usage of their products. In one case, duct tape as prom clothing!
The Excellence in Predicting the Future Award offers money for college to students who can predict future events!
The Scholar Athlete Milk Mustache of the Year Award awards free college money to students who enjoyed athletics, community service, and academics--as well as milk--throughout high school.

It is impossible to give examples of all the scholarships available to everyday students each year. But with every individual's qualities being celebrated in our modern era, money is available to everyone. Don't let yours go unclaimed any longer. If you look, you'll find something.

Scholarships for Student Loans
After graduating from college, many students find they are unable to meet the financial obligations of their student loans. The good news is that students who majored in and are employed in certain fields may be eligible to take advantage of a student loan scholarship.

Such scholarships give individuals the opportunity to have portions of their student loans cancelled in exchange for service in certain fields and/or locations. Some of the most common include:

Teachers
Nurses
Military
Public Service

While the amount of money that can be cancelled or forgiven for such programs tends to vary, individuals are generally able to have more money forgiven for increased periods of time of service. In some rare cases it may even be possible for 100% of a student loan to be forgiven. If you are a graduate with a student loan, check into student loan scholarships. Chances are you will qualify for some type of grant you had no idea existed.

Education Savings Accounts

Wed, 04 Nov 2009 06:36:00 EST

by Trump University

Done right, the Coverdell Education Savings Account Can Pay for All of Your Child's College Costs

As a parent, planning for your kids' education can be worrisome and confusing. Gone are the days when you could just drop some money in a mutual fund and wait 18 years.

But there are still great vehicles out there to get you where you want to go. And a Coverdell Education Savings Account (ESA) might be just what you need. The ESA (formerly known as the Education IRA) has become a very attractive college savings vehicle for many people. This even includes families who wish to save for elementary and secondary school expenses (as many K-12 expenses were added to the list of qualified expenses).

How It Works
The parents or grandparents of a child can contribute a combined amount of $2,000 annually, per child, until the child reaches the age of 18. If a child is under age five, there is ample time to accrue enough money for their college years.

Contributions made to an ESA are not tax deductible, but if distributions are taken to pay for education, there is not tax on the distributions. And as mentioned previously, you can even use tax-free distributions for elementary and high school costs.

Fund College Accounts as Soon as Possible
If you made a monthly contribution of $166.66 to an ESA--beginning when a child is born--it would grow to over $126,306 (assuming a 12% annual return) by the time that child reaches 18 years of age! This is ten times more than the amount you would accumulate if you waited to begin contributions until the child becomes a teenager. That's why it's important to fund your college accounts yesterday--not tomorrow.

Plan Provisions
Even if you like other plans (such as the 529 plan) it's a good idea to contribute the first $2,000 of savings for each child into an ESA. But before you move forward, here are some provisions to be aware of:

Tax law prohibits ESA funding once the beneficiary reaches age 18.
In 2002, the contribution limit was increased from $500 per child to the much more reasonable level of $2,000. However, you need to be careful when accounts are established by different family members for the same child. If total contributions exceed $2,000 in a year, a penalty will be owed.

For example, if the grandparents of a child decided to contribute $300 into their grandchild's ESA, the parents would be limited to contributing a maximum of $1,700 (for a total of $2,000).
Your contribution goes into an account that will eventually be distributed to your child, if not used for college. You cannot simply refund the account back to yourself like you can with a 529 plan. This means you lose some degree of control.
The account must be fully withdrawn by the time the beneficiary reaches age 30, or else it will be subject to tax and penalties.
Unless Congress acts, certain ESA benefits expire after 2010. K -12 expenses will no longer qualify, and the annual contribution limit will be reduced to $500.

Finding a Coverdell ESA Provider
If you know how a Roth IRA works, then you have a pretty good idea of how an ESA works. They both allow you to make an annual non-deductible contribution to a specially-designated investment trust account. Your account will grow free of federal income taxes, and withdrawals from the account will be completely tax-free as well. But it's important to remember that an ESA is an investment vehicle targeted to education expenses, not retirement.

And just like an IRA, you have a wide variety of providers to choose from for ESAs. The best way to find one is to do an online search. Look for providers who charge an annual maintenance cost of $10 or less. It's also preferable that the ESA have low minimum contribution requirements.

As you can see, the Coverdell Education Savings Account is a great vehicle to take the worry and confusion out of saving for your children's education. But don't wait to look into it. The sooner you fund the account, the more you'll have at withdrawal time.

Program Yourself for Success

Thu, 22 Oct 2009 10:41:00 EST

by Trump University

Co-create Your Future How YOU Want It to Be

We've all heard the age-old advice about the power of positive thinking. How many times have you heard someone trot out a line about filling your mind with good, positive images and avoiding the negative ones?

Now that you understand the concept of the subconscious mind, it should be clearer than ever why doing this is important. Positive thinking is important because the thoughts and images that occupy your conscious mind become seeds planted permanently in your subconscious mind. And your subconscious mind will make them real!

Speaking of seeds, let's consider an acorn. When an acorn falls to the ground, it will remain an acorn until it comes into contact with soil and water. When it does that, it begins a change. Particles of energy in the earth are attracted to it. Shoots extend from the bottom of the acorn into the soil to find more water. Another shoot at the top becomes a stem and reaches for the sun.

As the roots grow, they extend further and deeper into the soil--attracting the water and minerals they need for this new sapling to flourish. The stem produces leaves, and these leaves spread themselves out, attracting sunlight and particles from the atmosphere.

As the acorn continues to expand, at some point it ceases to be an acorn and instead becomes an oak tree. The roots, bark, trunk, branches, and leaves are all produced from the acorn, which had a patterned plan for life built within its nucleus.

Choose Your Own Programming

Once the acorn comes into contact with what it needs for life, there is no doubt what it will become. It will become an oak tree. You are much like an acorn in that you are a seed that will grow when given energy.

However, unlike the acorn, what you become is not predestined. You can choose your own future. And the fertilizer--the thoughts and images--you allow into your subconscious mind will determine what you become. Unlike the acorn, you are a co-creator; you can choose your own programming. Therefore, the beliefs you hold... the things you consciously dwell on... are planted deeply into the vault of your subconscious mind. And it is these things that become the patterned plan for what you will grow into.

Overcoming Negative Suggestions

From the day you were born, you've been bombarded with negative suggestions. As a child--or at some point during your lifetime--you've undoubtedly heard:

You can't.
It's no use.
You'll fail.
You're not allowed.
Life is too hard.
Don't trust anyone.
It's not worth it.
It's too much trouble.
And on and on...

We could fill pages with the other people's negative rules and regulations for us. But now that you understand the power of your subconscious mind--and how to change those long-held negative beliefs--it's time to write your own rules. It's time to create your own future. Beginning right now, choose your own programming. Make sure the beliefs you hold ARE YOURS, not those that were taught or suggested to you by others.

In addition, make sure you surround yourself with positive energy and fill your mind with constructive beliefs. You are the co-creator of your own life. And unlike the acorn, you can be whatever type of tree you want to be.

With the skills you've learned in this issue, you can literally begin programming yourself for success. With an empty chalkboard to write on, make your health, wealth, and career exactly what you want them to be.

The Most Powerful Tool on Earth

Thu, 22 Oct 2009 10:31:00 EST

by Trump University

The Hidden Power That Can Bring You Everything You Want

Have you ever wondered how two students can study the same materials, take the same course, and do the same homework--yet one gets an "A" and the other gets a "C"? Have you ever wondered how two entrepreneurs can start similar businesses, utilize similar strategies, and employ similar staff--yet one business fails and the other takes off like a rocket?

Why is this? Why do some people seem to draw energy and success to themselves like a super-magnet, despite less-than-average intelligence, wealth, and background?

The answer is because they are using the greatest tool on earth. They are releasing the hidden power within their mind that brings more wealth, health, and happiness to them. You also have this power. It's called your subconscious mind. And the difference between those who succeed, and those who don't, is that successful individuals use their subconscious minds (whether they realize it or not) to attract to them what they want.

Your Mind Has Two Parts

You have only one mind, but that one mind possessed two distinct parts--each with separate attributes and powers. The two parts of your mind are the conscious and subconscious. Let's look at the characteristics of both:

The Conscious Mind
Your conscious mind is like the navigator/captain of a ship. He directs the ship. He sends orders to the crew. They, in turn, control the instruments, steering, boilers, and so on. The crew and people in the engine room don't know where they are going. They simply carry out his orders. He's the captain and they obey him because he is in charge. In fact, they would steer the ship onto a reef if the captain gave faulty instructions.

The Subconscious Mind
Your conscious mind is the captain of your ship. Your subconscious mind takes all the orders you give it, based upon what your conscious mind believes and accepts as true. It does not question the orders.

Whatever you habitually think with your conscious mind sinks down into your subconscious mind, which then attracts what it needs to make those things come into being. Your subconscious is your creative mind. If you dwell on wealth, wealth will follow. If you dwell on lack, lack will follow.

The Law of Attraction

The important thing to remember is this: Once your subconscious mind accepts an idea, it begins to execute it. And it will attract what it needs in order to manifest your beliefs into your physical life. Whatever you claim mentally and feel as true, your subconscious mind will accept and bring forth into your experience. All you have to do is get your subconscious mind to accept an idea. Once that happens, it will bring forth the wealth and prosperity you desire. This is often referred to as The Law of Attraction.

It is important to remember that your conscious and subconscious are simply two spheres of activity going on within your own mind. Your conscious mind is the reasoning mind--the one that chooses. For example, you choose the books you read, your job where you work, and the car you drive. You make all your decisions with your conscious mind.

Your subconscious mind unconditionally accepts what is impressed upon it by the conscious mind. It does not reason. It is like a bed of soil that accepts any kind of seed, good or bad. Your thoughts are the seeds. Destructive, anxious, futile thoughts continue to work negatively in your subconscious mind. Sooner or later they will emerge and take shape as an outer experience that reflects those thoughts. They will attract into your physical world what you have planted in your mental world.

Changing Your Results

Now that you understand the two parts of your mind, you can see why two seemingly-similar people can get such different results from a seemingly-similar scenario. If two entrepreneurs open similar businesses with a similar business plan, they will each get different results. Why? Because they react differently to the challenges they face based on the conditioning or beliefs within their subconscious minds.

If you haven't been getting the results you want in your life, start paying attention to the messages you let in. Think of your conscious mind as the "watchman at the gate." Here are three ways to change what you're getting:

Fill your conscious mind with the images, thoughts, and beliefs you want it to plant into your subconscious mind. If you haven't been doing this, it will not be easy at first. But just being aware of the two parts of your mind, and the roles they fill, will start to reverse the trend.

Surround yourself with the people and experiences that will positively impact your beliefs. Many of your beliefs are formed based on your familiarity with what's close to you. The more supportive, positive, and encouraging your environment is--the easier it will be to impregnate your subconscious with constructive thoughts.

Identify your negative beliefs about money, work, love, etc. Unexamined, they create behaviors that will cause failures in your life. From there, begin to make constructive autosuggestions to yourself. In other words, write down, mentally go over, or verbally repeat the new messages. Over time, the new messages will begin to replace the old messages and recondition your mind.

Your subconscious mind is the most powerful tool you have. It can bring you everything you want. Use it to create more wealth, health, and happiness in your life.

How to Wholesale a Property

Mon, 05 Oct 2009 12:59:00 EST

by Trump University

Six Steps to Your First Paycheck

There's a reason wholesaling is a favorite strategy for many real estate professionals: It's not a complicated technique. Below, we've broken it down into six simple, straightforward steps.

Find a Property
Before you can wholesale a property, you need to find a good deal. Use whatever method you prefer for finding good deals--and then get that deal under contract. A good wholesale deal must be 25 to 40 percent below retail value. For example, if you find a house that's worth $100,000 and you can purchase it for $93,000, you probably won't profit from the deal. You need to find a deal with a good profit margin so that when you wholesale it to someone else, they profit from it as well.

Don't be too greedy. Make sure you allow room for the next person to profit. Develop a system where motivated buyers (other investors) want to do business with you because you passed on the profit. They'll keep coming back.

For example, if a house is worth $100,000 and you can buy it for $60,000, don't attempt to wholesale it to another investor for $95,000. Instead, wholesale it for $70,000, and you'll make $10,000, which is a nice profit for you. The investor will make a bigger profit, but he's also fixing it up, borrowing the money, and taking all the risk.

Analyze the Deal
Begin this step by determining how much you can get the property for. Then find out how much the property is worth by talking to agents, looking at comparable properties, or even obtaining an appraisal (if you're not comfortable with the first two yet).

Next, determine what repairs are needed to bring the property to full retail value. If this is new to you, bring in a licensed contractor to give you a detailed repair bid. During this step, be sure to keep all the information together. You may need it later.

Get it under Contract
To place the property under contract, use a standard buyer's contract, which includes a contingency clause, disclosures, and long closing period built into the contract. Make sure your contingency clause says, "This contract is contingent upon buyer's inspection and approval before closing." Try to negotiate a closing period of 90 days for your deals.

Be sure your contract includes permission to show the property to prospective buyers. Also, make arrangements with the sellers for a way to show the property. Consider putting the following clause in your contract: "I'm going to have people I work with look at the property. That may include partners, an appraiser, a contractor, or a handyman. We need to have access to the property." This will allow you to show the property to the people you need to make the deal happen.

Find a Buyer
To find buyers, start building a list. Ask other investors, rehabbers, or landlords if they are looking for properties. If they are, put their names in your database. You can also run classified ads and find potential buyers through the newspaper. Real estate agents also know rehabbers, as do people at your local real estate association. Then, when you get a wholesale deal under contract, you can send out an email or a flyer. Send the email to your list of potential buyers. Take the flyer to your real estate association and pass it out. Tell them it's first come, first serve. This will create a sense of urgency.

Assign the Contract
Once you find a buyer and negotiate a price, the buyer pays you to sign over the contract to him/her. You use an Assignment of Contract for Purchase and Sale to make this happen. Once this form is signed, the buyer simply steps into your shoes; all the rights you negotiated in the original contract become his/her rights. To ensure the seller can't back out of the deal with the new buyer, be sure the original contract says, "This contract may be sold or assigned."

Closing
Once you've sold the contract, you are out of the transaction--so this step doesn't really involve you. However, we're covering it so you can see how the process ends. Since you sold (or assigned) the contract in Step Five, if the buyers don't close, that's not your problem. Make sure you have a contingency clause in your contract saying that if the end buyers don't sell, you still get paid. But typically, the original sellers will close with the buyer--you simply played the role of matchmaker.

Your first deal is always the scariest. But if you utilize these six steps when wholesaling, your deals will be successful. And what could be easier? You're only six steps away from your first paycheck!