Dr. Laura Schlessinger, the conservative talk radio commentator under fire for repeatedly using a racial epithet, announced on Tuesday that she was ending her long-running radio show.

Dr. Schlessinger made the announcement on Tuesday night on “Larry King Live,” saying she made a decision not to renew her contract when it expires at the end of the year and suggesting that she did not want her opinions and language, however provocative, to be muzzled.
“I want to regain my First Amendment rights,” she said. “I want to be able to say what’s on my mind and in my heart and what I think is helpful and useful without somebody getting angry, some special interest group deciding this is the time to silence a voice of dissent and attack affiliates, attack sponsors. I’m sort of done with that.”

But she stressed that she was not retiring, only ending her show, and would continue to write books and appear at speaking engagements.

“I’m not quitting,” she told Larry King. “I feel energized actually — stronger and freer to say the things that I believe need to be said for people in this country.”

No stranger to controversy, Dr. Schlessinger has been under intense pressure in recent days following an exchange with a caller on her radio show last week in which she used the racial epithet — the so-called N-word — 11 times. The caller, a black woman, was complaining that she was married to a white man whose friends and family members frequently made racist comments in her presence. Dr. Schlessinger responded by arguing there was a “confusing” double standard — that blacks could use the epithet freely while whites could not.

Today we are discussing a somewhat advanced strategy for you to use after you have been in the creative real estate investing business for a while. I call this “Rehab, Refinance, and Cash Out”. This strategy can lead to true long term wealth and financial independence. This works very well in a buyers market like Memphis where prices have been quite flat for some time. You need to use this to augment your wholesaling for immediate income and retailing for bigger short term profits. Rehab, Refinance and Cash Out is a long term wealth building strategy and will be something you will be glad you did as it is a long term buy and hold strategy, and those are the strategies that lead to true wealth accumulation and financial independence.

Let me explain how this works. You find a good middle to low end 3 bedroom home that you are able to buy from an out of state owner or other motivated seller that needs a little work and you buy at 60% of after repaired value. You buy the house using a hard money lender like http://www.pleaseclose.com/memphistrading and do your fix up and have a property management firm manage the property and put a renter in the house. The hard money lender will typically loan you up to 65% of the after repaired value to purchase the house which you use to buy the house and then repair it. Now that the home is repaired you obtain an investor friendly mortgage and cash out by refinancing at 80-90% of after repaired retail value and you should be doing this with properties where this strategy gives you back at least $10,000 at the refinance that you can use in your business any way you need. Do not use this money to live on, use it solely to grow your real estate business. Once you have done this strategy on 10 homes you should be able to keep finding better and better deals because you can close quickly as you have cash in hand to make things happen. More cash equals better deals and more opportunities.

By the time you repeat this strategy 20 times you should have at least $200,000 cash plus about $200,000 equity and 20 homes giving you at least $2000 per month positive cash flow whether you decide to work this month or not since you have a property management company handling things for you. With average annual rent increases, within five years that $2,000 a month should grow to $4,000 a month. In 30 years you should have $2 to 3 million plus in paid off real estate. It’s a good solid long term strategy to add to your immediate selling from wholesaling, retailing and lease options that the extra $200,000 in cash will help grow tremendously.

The rent minus the management fees and all loan and other costs must leave you with positive cash flow or this strategy should be avoided. If you cannot cash out on the property I don’t recommend holding it long term as you want to be able to use your best mortgages to cash out.