Tag Archives: success

2010 Real Estate Investing Predictions

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It’s been a year of mixed reviews for many people! Certainly, there were highlights, but many folks are happy to see 2009 ushered out and welcome 2010!
With the New Year – and new decade – there are going to be lots of changes to come in real estate investing, online marketing, information marketing, and business in general.

I know that lots of people are posting their thoughts, predictions, and opinions for the coming year! Here are just a few of my predictions for real estate industry – specifically for investors.

  1. Property Values Will Stabilize.
    We’re not going to see a huge change in property values this year. Many of the markets have bottomed out, or are close thereto. However, there is a lot of inventory that has yet to hit the market before we can start to see an increase in value. This will make it easier to evaluate properties and determine the after repair values as there’s less decline to calculate. However, there are still 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 →

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 →

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 →

Real Estate Investing: The Three Levels of Success

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If you’ve been investing in real estate for any length of time (or even if you’re just getting started), then you have undoubtedly faced frustration, hit some highs and then crashed into some lows! Ultimately, your goal as a real estate investor is most likely to generate immediate cash flow and long term wealth and increased net worth.

True financial success is achieved by combining these two elements – cash flow and wealth creation, or net worth. Cash flow is considered as the monetary profit that is earned every month to support your lifestyle. This can also be used to invest in assets that may later appreciate in value.

Three levels of real estate investors are as follows:

Level one Real Estate Investors – In this level, the investors learn the basic tricks of the real estate investment business, and they use it to make real estate investment a profitable venture. They learn this by making their initial deals profitable. Thus, Level One investors ensure that real estate is the path to economic success. They are aware that there is much to learn from this vast field, and they try to understand it.Real estate investors at this stage should spend time learning the business, evaluating the details of the deals, and make sound decisions. Often
Continue reading →

Landlording: What Would You Do?

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For more tips and tricks like those mentioned on this blog, register for your trial subscription of the Real Estate Rant: http://www.RealEstateRant.net. Each month, you’ll receive tips, tricks, tactics and real world challenges (and how to overcome them) that investors face each and every day!

The following article comes from a situation that recently occurred with one of our own tenants. How would you have handled it? And really think about it as if you were in our shoes because it’s easy to say “Evict ’em” when you’re on the outside looking in, but put yourself in our shoes and think about how you’d handle it and how you could prevent the situation from recurring in the future!

Here’s the Scenario:

08/01/2007 – Rent is due

08/06/2007 – Rent is officially late. When you finally reach the tenant, you get the sob story: “I had surgery. My mom went to the hospital. My dad panicked. My son’s trying to get me the money and I’m out of work. I promise to have the rent to you by Wednesday… Thursday at the latest”

08/09/2007 –

Guess what? No rent check. The tenant’s willing to drive it up, but the funds aren’t in the bank anyways! Tenant promises AGAIN to call you right after ‘therapy’ tomorrow morning and get it straightened out. VERY, VERY SORRY! Continue reading →

History of the 4th of July

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I grew up in a small town in New England. I had no choice other than to be patriotic and proud! We took field trips down the path of Paul Revere and visited the cemeteries of our forefathers. We walked on battleships that served in wars and stood in the same buildings that history was made.

Yet now… more than 230 years later, it’s as if we’ve forgotten. We’re so busy fighting wars in foreign lands, closing down our borders and trying to save the world from famine, we’ve lost what it means to be American.

To be an American means so much more than just to be born here, it means freedom: freedom of speech, freedom of religion, freedom of choice. America means capitalism, competition, a free market and democracy. To be an American means to have a dream, a goal, a desire, the American Dream.

So, if you are going to pursue the American Dream, then do it passionately and be proud that you are an American. Know that because of where you live, you have opportunities that others don’t. Define your dream and go after it with the same passion that our Founding Fathers had when laying the foundation for our country. Know that in achieving your dreams, you will have sacrifice and you will have loss along the way. Stick with it when it seems like you’re losing ground. Remember… wars are won battle by battle! And wars are lost one battle at a time!

My advice to you is to get in and stay in. The rewards will be worth it in the end and the financial freedom will be yours to enjoy and pass on to your children and your children’s children.

 

And … no matter what your opinion is on the war(s), take a moment to honor those that have fought for this country and those that have made the ultimate sacrifice so that you can be an American and enjoy our freedom. Happy 4th of July! Take a moment to post your comments about what you’re doing to create your own American Dream!

And now for you history buffs… A friend of mine forwarded this to me and I thought I’d share it with you! Continue reading →

How to Use "Language" to Influence People

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My name is Bill Twyford. I’ve been in the business for little over eight years, and I’ve done almost 850 transactions. I’m very, very assertive. My specialty is communication–talking to homeowners and talking to banks.

So let’s start with some embedded commands. Embedded commands are patterns of language that bypass conscious reasoning and speak directly to the subconscious mind. Embedded commands influence people at the subconscious level. This allows you to direct people to take specific actions.

They will also have specific thoughts and will generally do whatever it is you want them to do. The subconscious is in a constant search for patterns. One command is not a pattern. You have to bombard your customer with command after command after command.

Your brain is always analyzing what’s going on around you. It’s trying to find similar things from your past and trying to line them up. The subconscious mind has stored millions and millions of conversations with other human beings. These conversations have become so routine, that the mind has virtually fallen asleep. Continue reading →