Measuring for the Super Bowl Rings…. before the game!

March 18, 2011

Originally Created on:
February 11, 2011 at 10:18 AM

I was lucky enough to attend the Super Bowl on Sunday. It was a great game between two historic franchises. But only one team could win. It was going to be the team that was prepared the most and who had already visualized the victory.

After Green Bay had won the game, it came out that on Saturday their head coach Mike McCready had the players get their Super Bowl Championship rings sized to fit their finger. Remember this was Saturday, the night before the game! Now a lot of people might have thought that this was arrogant, or he was going to “jinx” the victory. Not Coach McCready, he knew exactly what he was doing. He was so confident in his players and game plan, that he knew they were going to win. He decided to get the ring sizing done before the game. He was helping his team visualize the victory in their mind, which makes it real. The subconscious mind cannot tell the difference between reality and what you tell it. Read the rest of this entry »


Why my Virtual Assistant is Fantastic!

March 18, 2011

Originally Created on:
February 1st, 2011 at 9:38 PM

In my last blog post I mentioned that we have to outsource tasks that can be done cheaper and more efficiently by others. I have an assistant in my office that performs the tasks that need to be handled in person – answering my phone, faxing, scanning, managing my direct marketing campaigns, etc. Now I know some entrepreneurs who are able to outsource all of those tasks to answering services and mail houses. I choose to keep those in house. Sometimes it is just easier to hand the task to the person sitting right next to you. Read the rest of this entry »


How Much is Your Time Worth?

March 18, 2011

Originally Created On:
January 19th, 2011 at 2:33 pm
I was getting so overwhelmed with mundane, day to day tasks, that I was neglecting the more important tasks that would really grow my business. I thought I was being productive by keeping busy performing data entry, book keeping, faxing, scanning, creating spread sheets, etc. These tasks could have easily been done cheaper by someone else.
That reminds me of the two sales people who were congregating at the water cooler at the end of the day. The one salesman said to the other, how was your day? Well, I was really busy. I mailed 10 letters, I returned 15 emails, I faxed 10 documents, I ordered new business cards, and I created a new spread sheet. The other salesman said – yeah, I didn’t have any sales either. Read the rest of this entry »


What are you prepared to do?

March 18, 2011

Originally Created On:
January 5th, 2011 at 7:52 am

“What are you prepared to do?”
That was the question Sean Connery asked Kevin Costner in The Untouchables. Costner’s character wanted to bring down Al Capone. While talking in a church, Connery tried to find out how important that goal was to Costner, and to let him know what would have to be done to accomplish it. As a Real Estate professional what are you prepared to do to take your business to the next level?

My favorite scene is towards the end of the movie when Connery’s character is dying. With blood dribbling out of his of his mouth and body, he works up the energy to ask Costner one last time “What are you prepared to do?”  Wow, now that is focus!
Now I am not proposing a gun battle and I don’t want you to break the law. But this scene really shows the type of focus and commitment needed to accomplish your goals. A lot of people want to be successful in Real Estate. I hear it every day. But are they willing to do the work to get to that level? Are you willing to get the education needed to implement new strategies into your business? Instead of watching another episode of Gossip Girl, will you read that book on business systems? Will you take some of your precious vacation days and attend a seminar to learn about new real estate techniques.  You will need to make some changes in your life to achieve your goals. Always ask your self – Is what I am doing right now advancing me toward my goals? Read the rest of this entry »


You Must Kiss A Lot of Frogs

March 18, 2011

Originally Created On:
December 20th, 2010 at 9:07 am
You know the old fairy tale which gave us the phrase “You have to kiss a lot of frogs, before you find your prince.” This applies to real estate investing too. You need to evaluate a lot of properties before you find a good deal. We must weed out the unmotivated sellers to find ones who are willing to sell at our price and have properties that meet our criteria.

A lot of new investors find a house and immediately think it’s their new “prince”. They try to force it into a deal because they don’t have enough prospects in their pipeline. This causes them to ignore their buying criteria. They fool themselves into thinking they can sell it for more by misreading the comps. They under estimate repairs by thinking they can get a contractor to do the renovation cheaper and faster than possible. The biggest mistake is when they pay too much for the house. Not having enough prospects will cause you to get emotionally invested in the house (ask me how I know this). So what happens? They are left with a frog that will not turn a profit. Read the rest of this entry »


Should I Submit Multiple Offers To the Short Sale Lender?

March 18, 2011

Originally Created On:
December 8th, 2010 at 9:58 am
I seem to get this question at least once a month from Realtors. Remember the homeowner of the property is the seller, not the bank. All offers must be presented to the seller, who along with their real estate agent or attorney, should review those offers and decide which one they will accept. They can only accept one offer. Only that executed contract should be sent to the lender.

Now the highest price might not necessarily be the best offer. A cash offer at a lower price might be a better offer than a FHA buyer with a small down payment, who needs to close in 60 days. A buyer who can wait until the short sale is completed is very attractive. Encourage agents to submit back up offers. Read the rest of this entry »


The Importance of Knowing the Loan Type in a Short Sale

March 18, 2011

Originally Created On:
November 18th, 2010 at 4:13 pm

This is the second post in the keys to a successful
short sale series.

 

One of the first questions I ask a homeowner is, “what is your loan type?” Knowing the loan type is crucial for a successful short sale. Is it a FHA, VA, Fannie Mae, Freddie Mac, state and local housing loans, etc. Is there Private mortgage insurance? Who is the investor behind the loan? The type of loan will determine the following: Read the rest of this entry »


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