In pursuit of...

Excellence.

We have goals. It is right to set our sights and give time lines for their attainment. But, in the end, we do not determine who wins, who is the best. We do not have control of the results; winning, success.

Some things are out of our control.

Some things we do control: thoughts, fears, reactions, attention, desires...

I recognize my strengths and abilities. I choose to test them, improve them, refine them. I choose to pursue excellence.

Slow Pay

Sometimes the mail is slow. Sometimes there are rent payments in the mail. Sometimes I am impatient.

Fear is Your Only God on the Radio

Today I turned off the radio...and I felt better.

Celebrate the Fallout

Tonight I had the pleasure of speaking with a friend who is responsible for international investments for the company he works for. Here's what we figured out:

• News medias broadcast terrifying information.
• Most consumers are not invested so deep as to impact daily life.
• Listening to panic messages inspires fear.

Here's what I prescribe to overcome the Fallout: Celebrate...

• Good health
• Great friendships
• Comfortable surroundings
  
• Fulfilling hobbies
• The ability to let go of fear the moment I realize that I CAN!

What do you Celebrate?

The "M" Word (it's not Market)

I am a member of many organizations. At my church, I serve as a Deacon. I support various volunteer groups. In my profession I am a member of various committees including serving as a governor for the region's MLS. I take part in community associations like Toastmasters where I serve as President of a local group and serve as the Sponsor to a new fledgling group. Not to mention the local area real estate investor association where I am a board member. To say the least, I'm involved.

But, this article is not about me. It's about something I've observed while experiencing life in community. It's about us and who we are, how we see ourselves.

For a while I thought it was me, that I simply found myself taking part in groups on the decline. I no longer see it that way. Each of these groups at one point or another has raised the question of the "M" word: Membership. That word always seemed to closely follow the word "struggling".

Now, as our economy is officially in recession (labeled nearly 12 months after it began) we begin to truly feel as a community the anxiety of financial uncertainty. Will this be our common thread? Will we be able to let go of our pride, our individualism? Will we be drawn back to one another? Will we once again come together as a community?

How To Manage Rentals (Property Management)

Thankfully I've had some great mentors and have purchased some very insightful texts, courses and forms. I've purchased my real estate right, marketed smart, thoroughly screened, selected and placed quality tenants. Now I get to manage my investments.

What do you do when a screen in a window has been removed? Or, how do you respond when a down spout is disconnected?

How do you do Property Management?

Click Here to take survey



Property Management Software?


I use Mike Butler's Quickbooks modification.











Here's one I found on YouTube (I don't use this)





Leave a comment, fill out the survey, help a fellow investor!

Keep it up!

Motivation by Purpose

2009 is right around the corner. I'm looking back at 2008 and taking an account of my progress.

Join with me as I relish in my success (...or scroll down):

I became intentional with the time I spent with my family. I made specific appointments in my calendar for family time on a weekly basis and even planned out some memorable vacations.

I wrote down some goals. I made a point, on this blog in fact, to write out some things I wanted to accomplish.

I focused on training for a run. Special Report...after that run I laid off training and I gained more body fat than ever. Note to runners, don't stop running cold turkey.

I returned to martial arts training learning the Shorin-Ryu style. (This is NOT me...yet.)



I also started a new speaking and leadership group in my area using the Toastmasters International format. --That's been a very rewarding.

I just about forgot, I began a professional consulting service coaching individuals who struggle with ADD. More specifically, I work with individuals and business professionals who experience overwhelm from distractions, disorganization and poor time management.

Attention Management Consulting begins with a short survey. --Just for being a reader, I'll give you a free analysis.

Click Here to take survey


So, What are YOU going to do?

WikiAnswers.com says that the top goal of Americans is to "lose weight".

Are you using an online goal setting tool? I've checked out a few. Which have you seen?
http://freegoalsetting.com/
http://www.wesabe.com/
http://www.joesgoals.com/
http://www.8goals.com/
http://www.lifetango.com/

Will you write a book, start a blog, go bowling, take a college course, ask for a promotion, listen to a podcast, treat yourself to a night out, buy flowers, see fine art, give a compliment, face a fear, waste time online, stay in bed an extra 10-minutes, hire a personal consultant, commit to finishing a project...?

I think you should buy Real Estate! I'll be happy to help you find some great deals.

Keep going!

I am a business owner

Are you a business owner too? I am a business owner, an adult, a responsible bill payer. I have duties. I have more duties than most.

I am not a parent; I don't have children. I'm not a caretaker; I don't have an elderly father to care for.

But, I've got a business. In fact, I've got a couple businesses. They take hard work. They take creativity and discipline. And I enjoy every minute of it.

Now I'm faced with a messed up economy. I've got a housing market that is a wreck, clients that are frantic and opportunities that are unbelievable. And I can see that now is my chance to crank up the heat and turn average businesses into stories of extraordinary success.

What are you doing to capitalize on the amazing opportunities that are everywhere?

Can you see the piles of gold? Do you look through eyes of discipline and optimism? Gaze through the filter of the disciplined entrepreneur?

I'm stoked!

Please leave your comments.

Attention Management or How to Overcome ADD

This will serve as a very brief review of a process that can be used to overcome the issues of distraction. Feel free to take the free survey to get more insights on how to overcome distraction and struggles with ADD.

Click Here to take the survey

The 3DAM Method:

Dump - Immediately process out all your thoughts whenever they present themselves.

Discern - At set times Filter the information from your Dump.

Decide - When you are ready for something to do, select an activity from your Discernment List

Act - Do it!

Measure - Dump: New tasks? Goals complete? Decide to do something else!


To learn more, take the Free Survey and get free white papers on how to Supercharge Your Productivity.

Click Here: Attention Management survey

Lost. $40,000 in Equity. Reward Offered

As an investor's agent I always get confused when a client finds a property, inspects it for repair costs, runs the numbers and then waits for the list price to drop before they submit an offer.

Here's my question: Why leave the property on the market for other people to steal your target purchase when you know what you can buy it for and how much you'll make from the purchase. at the right price? You have no idea what they will or will not accept.

Examples of When Buyers Aren't Afraid to Ask:

1. I had a listing that had an appraised price of $85k. The sellers listed it at $79k. They accepted an offer of $63k after only 21 days on the market and also offered to do update work prior to closing.

2. A HUD property that had been on the market for almost a year. Listed at $250k, then $242k, $235k...you get the point.

My buyer placed a bid each day for $140k (the on line auction had a daily closing). We did this for about 30 days. There was no winning bid.

The price was reduced again, this time to $195k.

I asked my clients if they wanted to place the same bid.

READ CLOSELY!!!

They did not want to submit a bid, as they had been, at $140k.

The next day the auction closed with the winning bid at $98,000.

My clients were outraged that they lost the opportunity to purchase the property. Not to mention that up and to that point they were offering over $40,000 more than the winning bid.

Please learn from these experiences...

PUT IN AN OFFER!!!

Leave a comment about any experiences you have had or heard of...good or bad.

3 Tips to Start the New Year Off Right

I'm starting from the assumption that you (the reader) are interested in making your life experience in 2008 different (dare I say, better) than 2007.

I've come across some great podcasts that have been really inspirational. Check out these links...after you've read my tips, of course.

My Thought Coach, Brian Tracey Podcasts, Hypnosis w/ Michael White and the 4-hour Work Week

Tip 1: Reflect - What did you do last year? (Or...what did you avoid?)

• I avoided going to the gym during the day because I would have to use the public shower. (That causes me unreasonable anxiety.)
• I did not add to my property inventory because I was reluctant to take a serious look at my finances.
• (On a positive note) I almost doubled my business production.
• I reviewed, eliminated and created new successful marketing campaigns.
• I enjoyed multiple wonderful vacations.

Tip 2: Brainstorm - What gave you the most enjoyment in 2007?

• I ran my first half-marathon.
• I was increased my flexibility. (I touched my toes for the first time in over 5 years.)
• I read some wonderful business/educational books.
• I automated almost all of my duties as a Realtor.
• I took on a part-time assistant.
• I made some new friendships.
• I helped all my clients through their real estate transactions in a volatile market.

Tip 3: Decide - Pick some things you want to do/be/have. (Use the previous steps to get some ideas.)

• Because it was an amazing rush - I am going to run 2 more half-marathons in 2008.
• Because I feel a sense of accomplishment and have more energy - I am going to continue limiting my intake of fast food and microwave meals and prepare meals at home 5 days/week.
• Because I believe in myself - I am going to increase my property holdings according to my business plan.

These are just some things that I plan to improve in this new year. I hope you make some amazing new accomplishments in 2008.

Please leave some comments on what you plan to do so we can encourage you along the way! (And, let me know what you think about the links I posted.)

Here's to a wonderful 2008!

Increase Your Bottom Line...(Part 2)

Here are some more steps to make more money in your real estate business.

4. Identify your best client

Are you spending your time on your best prospect? (Putting on my Realtor hat) I could drive a shopper around for months to see every house that happens to be in a particular town and have a certain number of bedrooms. Or, I could refer that shopper to some other agent who likes shopping and spend my valuable time locating my ideal client (who has 2 days to select their next home, is pre-approved with my favorite lender and has a pleasant personality).

Don't get me wrong. There are a lot of potential clients out there that are serious about making a decision to purchase a home. I'd just prefer to spend my time on the client that will be decisive and agreeable. (And, I know when I've found that type of person. And I do everything in my power to ensure that they will do business with me.)

So, transpose this idea to your business. Are you looking for a service provider, a property to purchase, a tenant or a buyer? In each area, identify your best client and serve ONLY those that fit similar criteria.

If you spend more time on client screening you'll find that you: Waste less time (on bad clients that probably won't perform anyway), Experience less stress and Make more money. And isn't that was business is really about?


5. Provide top quality service

Do you have a niche? Are you the "best" in your area? If you want to make more money (without necessarily working more) you need to give you clients amazing service. It's common knowledge that people will pay a premium for a high quality product or service. (And usually that means that service is provided to fewer clients.) So, if you're interested in serving fewer people and charging them at a higher rate, I suggest you provide an amazing service.


6. Satisfy your customer

Somewhat aligned with the last bullet point, customer satisfaction creates great referrals. Once you have taken the market by storm by the quality of your product, don't forget to ensure that your client loves it.

I have a great listing presentation. I pull out all the stops and typically walk away with a signed contract. (Unless I have determined that my prospect does not fit my "best client" criteria. In which case, I tell them "Thank you" and offer to refer them to another agent in my office...or a competing brokerage if they are really high maintenance. Ha!)

But Once I have the contract signed, if I don't satisfy my client with consistently amazing service, I've hurt my entire business.

Make sure that your client is aware of what you intend to provide and be sure that level of service satisfies their needs...at the very least. (And, if it doesn't, you probably did a poor job at at client screening and have wasted your time and theirs...so cut them loose. Oh! I'm so cold!)



...I'll have more tips to come. Please leave me a comment and let me know what you do to be the best in your market or how you have created a niche.

FREE! Generate 27 Leads Per Day!

It all boils down to marketing. Really, it all boils down to the headline. (And I want you to have great headlines!)

You could have the best product/content/service in the world (or you could have the worst...) and if you don't have strong marketing, NO ONE WILL BUY IT! So, take a look at some of these headlines and start putting them to use.

Here are some of the highest producing headlines I am aware of:

• FREE! (This is the single most powerful word in print advertising)
  
• Handyman Special
• $129,900 Fixer-upper - $19k under appraisal
• Must Sell
• Sell on Terms
• Owner Financing
  
• Owner Desperate
• Broker Desperate
• Vacant Properties
• No Underwriting
• Free Payments
• NO Payments!
  
• Bank REO's
• $500 Down Gets You In
• Free List of...

And my personal favorite:

• Discover How to Generate Up to 27 Calls Per Day from Qualified Buyers and Sellers With No Prospecting, No "Selling" and Absolutely No Pressure or Rejection...

Increase Your Bottom Line by 133% or More! (Part 1)

When I started my career I took advantage of a few techniques that really cranked up my income as a real estate agent. (I screwed up by failing to continue to apply them.)

1. Get passionate about your business.

When I realized that a large number of successful people in the United States owned real estate, besides their primary dwelling, I became excited about buying, selling and owning real estate for myself. I was convinced that if I learned more about real estate investing I too would find myself among the ranks of the monetarily wealthy. (Since I was working in an 8 to 6 job at the time, that was an exciting thing to daydream about.) I became passionate about starting a real estate investing career.

2. Get your phone to ring.

Once I started on my new business path I found that if I had no clients, I had no income. (And that really stretched out my path to becoming monetarily wealthy.) I realized that no matter what business I was involved in, my job is to make my phone ring. I also realized that my business is much easier when potential clients are calling me as opposed to when I cold call them.

3. Have a marketing message that sets you apart.

Do you do the same thing as everyone else? I don't. And my clients need to know that. I have made it a point to have a marketing message that lets my clients know that I sell homes faster than the average agent.

For some ideas on good marketing messages check out my previous blog:

"FREE! Generate 27 Leads Per Day!"

Top Secret: How to Find the Best Deals

Write a LOT of offers.

First, find some homes for sale. If you are only looking in one place, there are more properties listed on the MLS than at any other time in history. What makes you think that some of the sellers who have listed their properties aren't willing to take the ridiculous offer you present to them?

The true secret is that there are hundreds, nay, thousands of sellers who are willing to pass along the equity in their property directly to you. All you have to do is ask.

So, the secret wisdom of success in real estate investing is to find a market you like and make a lot of offers to purchase the properties that fit your criteria.

Now is your chance! Go and experience success in investing!

Make Big Plans!

...so you know when you've "made it".

As I approach creating this post I have burdened myself with the feeling that I have to come off sounding like an expert real estate investor. Let me remind you (and me), I'm not. I'm relatively (ha! terribly) new at this game.

I've got a renter. I'm an active Realtor. I know what good deals look like on paper. (Cool bonus) I work with expert investors who are gracious enough to mentor me. And, I've got a lot to learn.

Here are some of my goals to accomplish before the end of the year:

• Get a book keeper
• Purchase and fill a rental property cash flowing $200/mo

(How lame.)

Go make some goals!

Invitation to Finding Hot Deals in Real Estate

In case you didn’t know, we are at the beginning of a very exciting Real Estate market for investors.

(And, if you do nothing else today go to this site www.SecondRateHomes.com.)

With the shift in lender market and the subsequent elimination of hundreds of sub-prime loan options, would-be home buyers are left looking for a home to rent. Not to mention all those who have lost their homes to Foreclosure…who now have cash from the months of unpaid mortgage payments lining their pockets. They are ready to put that money down as an Option Fee until they can get their credit back in order.

Now is the time to make your move! Especially with the news that even more Foreclosure homes will be on the market than ever before.

But just because there are a lot of properties that are on the market, you must ask, “How do I find the BEST deals?”

As a Realtor, I know there are plenty of deals to be found on the MLS.

I’ve seen owners all but give away their homes with the first offer they receive. Also, I’ve seen lenders sell foreclosure properties leaving thousands of dollars of equity on the table.

I want to put those deals at your fingertips.

(This site is focused on the Metro East Real Estate Market. I would be happy to collaborate with agents and investors in other markets to create a site dedicated to locating RE Deals in your market!)

What I have done is searched the entire MLS and ran calculations to determine all the undervalued and overlooked properties in St. Clair and Madison County, Illinois in order to identify the Hottest Deals in real estate.

And guess what…I Found Them!!!

The best part is that this list of Hot Deals is available to you 24/7 on my website www.SecondRateHomes.com

But, that’s not all!

On www.SecondRateHomes.com you can advertise your Hot Deals for no charge. Free Advertising for your wholesales, retails, rentals, services, and on….

Just visit www.SecondRateHomes.com and see for yourself.

Once you are there, click on our “Advertise for FREE” link and follow the instructions and we’ll add your information to our page so that all of the visitors see your content too. And it’s free!

Please send me an email to let me know what you think about my new site. And, take advantage of the free advertising.

Enjoy!

Top Real Estate Investing "How-To" Books

The title should say, "These are the books with the most thorough content that I have read as of today...though I, admittedly, have yet to put much of their great wisdom into practice."

Even though I am leaving the starting gate of real estate investing like the tortoise, I am convinced that I have collected some of the greatest educational resources available. This is a relatively short list of books. (Which, if you had intended on buying everything on my list, should leave you very relieved.)

I have read quite a few books and these are the ones that I always return to. (I didn't even realize that my list was so short. My wife will be happy to hear that! Now, I suppose, she really can take the countless others in to trade at the bookstore.)

I also want to note that, though these books may have amazing content, some/most of these books lack basic literary editing. So, if you are looking for books that are concise and are well written from an English Major's perspective...maybe you're looking for edification in the wrong career.

I would be honored to hear your comments about these books and/or share the names of any additional book(s) you feel helped you along your journey through the labyrinth of real estate investing. (I'm sure that I've left out quite a few favorites.)


Allen, David. Getting Things Done (2003)

Botkin, Sandy. Lower Your Taxes--Big Time (2003)

Butler, Mike. Landlording on Autopilot (2006)

Clason, George S. Richest Man in Babylon, the (1988)

Gerber, Michael E. E Myth Revisited, the (1995)

Hill, Napoleon. Think and Grow Rich (1983)

Keller, Gary. Millionaire Real Estate Investor, the (2005)

Langemeier, Loral. Guerrilla Wealth (2004)

Mandino, Og. Greatest Salesman in the World, the (1985)

Schaub, John. Building Wealth One House at a Time (2005)


I look forward to reading your favorites!

Bad Loan Officer Kills ANOTHER Deal

On the standard residential real estate sale side of life there are two things that will kill a deal. One is a bad property inspector. Hear me out, every home is flawed to some degree. I have absolute respect for the home inspector who does the job well and leaves no crack un-documented.

What I do not have tolerance for is the home inspector who tells their client (be it buyer or seller) that every documented item on the list, no matter the severity of the issue, must be addressed in order for the property to be fit for sale. But, this is an issue I will expound upon at a later date. Today, let me share my thoughts on the second deal killer.

To err is human. What was omitted from that great saying was that those with the highest propensity to err are mortgage brokers.

I really don't know where to begin this rant. I realize that mortgage brokers get paid according to their production volume. What I don't understand is, if they cannot get a deal to close, how they get paid at all? And, why is it that there are so many of them? Most importantly, why are so many buyers suckered into working with these mortgage brokers that have a very public track record of closing no better than 1 in 10 deals that they have "pre-approval letters" for?

I have full confidence that if a mortgage broker tells me that "we can get this deal closed in 2-weeks" my poor listing client has no chance at all that this buyer will be able to qualify for a loan. It has to be some kind of secret code phrase for bad lenders. Every time, without fail, when I have heard these words uttered to me by a mortgage broker one day before our scheduled closing (here comes another secret code phrase) "the underwriter is having trouble with the appraisal". Never mind that the property has been intentionally undervalued with the intention of attaining a "quick" sale.

The real question, though, is why do I allow my sellers to go through this heart ache? I am honest with my clients. I let them know that when a buyer puts an offer on their home for 110% of list price and my sellers still manage to only see a net offer of 82% that something might be a little off and that this loan package might not come together. (Even though I have been told by the mortgage broker, "Close in 30 days? Hah! We'll get this deal closed by the end of next week.)

But, my poor sellers see a contract offer and with it a light at the end of the tunnel. It's so hard for them to turn away even the slimmest of chances. That is until the day of closing and we are sitting at the title company wondering why the lender hasn't arrived yet. And, by the way, didn't they say the loan figures were coming over the fax...3 hours ago? Hey, why am I getting a "this number has been disconnected" message when I call your mortgage brokers mobile number?

Exciting news

I am pleased to announce that my new website collaboration is open to the public. SecondRateHomes.com now has content. Now, don't let the name fool you. We are not marketing junk on this site. What we have done is taken an entire real estate market and searched for the best deals, we locate the properties that are undervalued and overlooked and place them front and center for everyone to see.

It's my intention to turn this page into a top resource for real estate investors in the Metro East. We are offering free advertising to anyone who wants to market their properties for sale, rentals that are vacant, handyman services, mortgage services, and whatever else.

As we move into the next stage we will also be offering investors useful tools like deal calculators, and a renter brokerage to help you get your place rented faster, cheaper and with a higher quality tenant.

So, please drop by and leave a comment...and subscribe to this post while you're at it. You'll find first rate values at SecondRateHomes.com