Tag Archives: ny

Giving Thanks and Moving Forward

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Thanksgiving has always been one of my favorite holidays!

I remember back to when I was a child and we’d spend the day at my grandparents house. When we’d walk in the front door, the aroma of turkey and stuffing and pumpkin pie filled the air. I was always SO excited to get there.

Then, I would help my grandma in the kitchen. Usually she’d give me a task like preparing the salad (or something equally as “kid-friendly”). I’d help set the table with the fine china and I’d always sit in the same spot – right in front of the fireplace.

While the adults had their favorite cocktails, I had my orange juice with grenadine cherries inside my mom’s Shirley Temple glass or a German Beer stein! Continue reading →

Real Estate Training

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Back when I started investing in real estate, there were limited resources for training available. There were high end bootcamps that you could attend for upwards of $4000. There were $20,000+ mentorship programs out there. And there were a handful of “homestudy courses” if you knew where to find them.

It was before the Internet was a primary marketing and communications vehicle. It was before every investor that had done a single deal was a self-proclaimed “guru”. In some ways, it was quite simple. In many ways, it was more complicated to find the information.

Fast forward to now…

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New Years Planning

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Last week, a friend of mine posed the question inside my mastermind group:

“What is the one thing you’ll do differently in next year in your business?”

And the answers have been great! People have been reflecting on what’s been working well in their businesses and people have been looking at what they want to change.

The common thread that I saw go through all of the replies back was: systematize and organize. People want to reclaim their time. Sure, the money is obvious… We all want to continue to grow our companies and the bottom line. But that’s not what people are focusing on.

For me in my business, it’s simple. It comes down to three things: Continue reading →

Are You Emotionally Ready For Financial Freedom?

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This may sound like a funny title for an article, but think about it for a moment! How many people have you met that are just as broke at $90,000 as they were at $20,000?

You see, we tend to always try to “keep up with the Jones'” and buy the latest and greatest gadget or trinket. So, even though we live in a nicer home and drive a nicer car, at the end of the month, we’re left with little more than a few dollars at the end of the month – if we’re lucky! So what does all this mean?

It simply means that in order for you to achieve true financial freedom Continue reading →

Finding the Right People

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I just spent the last week with my “mastermind” team, or my network of people that help me grow our business. And while I was there, I lot of questions came up about referrals, partners, etc. Now, this wasn’t a “real estate” group per se, but we definitely share our resources.

On the plane home, I got to thinking about networking in real estate. There aren’t as many mastermind groups out there. Plus, the cost to enter can be out of reach for many (this one cost me $16,000). So, I thought that since we’re just getting going into 2008, now would be a great time to evaluate our businesses and who’s on our team. So, I decided to post this article..

Here’s a short list of people that you need in your real estate business:

… Accountants
… Attorneys
… Private Lenders
… Rehab Lenders Continue reading →

Real Estate Market

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Every time you turn on the news, it’s doom and gloom for real estate all around the country.

And certainly… the news is not good by and large throughout most of the country, BUT… believe it or not, there are pockets that are alive and doing VERY WELL, just like when most of the country was in vertical growth, there were pockets with record foreclosures!

The key is being able to know where those markets are BEFORE everybody else does.

Let’s look at what could happen if you found the markets before your competitors did?

Okay, so the media is telling everyone how terrible the market is. Homeowners are hearing this and realizing that it’s not going to be easy to sell. Plus, with the mortgage industry as it is, financing is going to be harder and harder in the months and years to come. So… we’re talking MOTIVATED sellers. And no news outlet in their right mind would actually say that a particular market is booming! Continue reading →

Sell A House Fast – How to Find Potential Buyers!

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Everywhere you turn, there’s a media frenzy stitched with doom and gloom about the real estate market.Sure… we’ve all heard it… It’s a buyer’s market! But it seems like buyers don’t want to pull the trigger… they’re “waiting” to see if we’re truly at the bottom of the market. They’re waiting to see if the feds drop interest rates again. They’re waiting to see if there’s a better deal around the corner. The point is… they’re waiting! And what you have a house to sell, it’s the last thing you want to contend with! You want a ready, willing, and able buyer to put a contract of your property and show up to closing!

The good news is… that buyers (in some markets) are starting to get the picture. In fact, just in the past 2 weeks, I know of 2 stories where people lost out on a home because they thought the selling side was calling “bluff”. The key is to really have a deal that a buyer simply can’t refuse.

Here’s a simple strategy to get a flood of potential buyers through the door and potentially have multiple offers on the table in no time at all. (Keep this in mind when you’re making your offers on wholesale properties too!!! This model will keep you turning properties no matter WHAT is going on in the market). Continue reading →

The Amazing Race: Real Estate Edition!

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I know that rule #1 in real estate is not to get attached to a piece of property! However, when it’s your own home, the rules change! And that’s what happened to me.

I bought my home in Coral Gables back in 2003 and absolutely fell in love with it. It was an old spanish home with unique architectural elements and it was absolutely perfect for me. In fact, it even had a converted carport that I used for my office so that my work didn’t creep into my entire living space (as it has in my new home!)

In 2005, I bought another house… This time, in West Palm Beach a block from the water. The house itself was not my dream house, but I loved the location. I could even put my own sailboat in the water at the end of the street (which I never got around to). I decided to move to West Palm Beach because I was doing more real estate in the area and didn’t want to keep both houses as active residences. I did go back and forth for the first 18 months and just didn’t want to do it anymore. So, I rented it for just about a year and a half. Continue reading →

Business Lines of Credit

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At least several times per week, I get asked about how to get business lines of credit ESPECIALLY since the lenders are tightening up these days. Now, when I am applying for credit, I’m not too picky if it comes in the form of a credit card with courtesy checks or an actual line of credit.

I’m not too concerned about interest rates because I’m using them for a tool. Certainly, the lower the interest rate, the better, but if I have to get a card at 15%, I’ll take it. I won’t carry a balance on it or use it unless I come across a deal that I simply must use the card for and it makes sense.

Some people may wonder why I don’t fight for great rates, and I definitely try to get the best rates I can, but I’m not accumulating business credit for the sole purpose of maxing out my debt :-0! You see, I want to have as MUCH money available to me at any given time in case the right deal comes along and I need immediate cash OR in case I need some extra funds to grow my business.

There are a handful of things you need to know about the business lines of credit I’m talking about here:

Continue reading →

Integrated Streams of Income?

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Listen to Lou Castillo’s “Online RE Empire HERE (In this 90 minute interview, Lou reveals how YOU CAN have multiple streams of income with real estate as the foundation)

I remember back about 5 years ago when the whole “Multiple Streams of Income” was all the rage. But, even then… I thought, “Hmmm. How in the heck is anyone supposed to learn 4 VERY DIFFERENT businesses at the same time?”

I consider myself pretty good at multi-tasking and taking on multiple projects at the same time, but when you’re trying to…

 

… Learn the RE business;
… Figure out how to write ebooks and put them online;
… Speak publicly;
… Understand the stock market; and

… Choose a network marketing company

all at once, it’s no doubt that you wind up running in circles, never really getting ANYTHING accomplished. I know from first hand experience. I would go to a seminar or an event and I would want to come home and do EVERYTHING! I remember starting Continue reading →