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Member You - Financial Immortality!
Are you a home or small business owner and you’re Webmaster, receptionist, and assistant all in one, but you’ve found that there isn’t enough time in the day to complete all of these administrative tasks? A “Virtual Assistant” could be your answer.In today’s tough economical times it’s hard to think of hiring someone else to assist you, but it may be more cost effective than you think. You are probably spending more time on projects, sending out correspondence, bookkeeping and many other tasks that an assistant could do. Don’t have the space in your office or want to deal with payroll taxes? Then hire a “Virtual Assistant”
The safety in the deal is making sure that the property is worth a lot more than the hard money loan amount when the project is finished. Many of them start lending at 50% of the value of the project (loan to value ratio abbreviated LTV). Once they get confident (static) with what they have to do to make money many are now lending a 70% of the v
When you are in business for yourself, it is not easy to make those collection calls. Emotions, both subtle and forceful can come into play, on both sides. But as a business owner with outstanding Accounts Receivable, making the calls to collect your money can make or break your bottom line!Let’s examine three uncomfortable emotions, and give you some tips on how to collect your money with less stress.Emotions: * Dislike of calling, so constantly put it on the bottom of the “to-do” list * Dislike of confrontation over the money owed * Fear of losing the customerFir
We were chatting about the hard money lenders who are lending at 70% loan to value ratios instead of 50% and just how deadly this could be financially. I explained that the reason these younger real estate professionals are lending at unsafe ratios is due to a type of money thinking I call “financial immortality.” This type if thinking is the tendency of human beings to extend what we know about the present into the future.
Think about it. When you get up in the morning you jump out of bed and walk a certain number of feet in certain directions and you get your usual food and sanitation needs taken care of. It’s probably pretty much the same (if you are at home and not on the road) every day. You probably drive the same way to work every morning. You do pretty much the same activities each day to pull the pay check in or keep the business running. You generally assume that tomorrow is going to be much like today.
Your routine daily experience has taught you that if you do just a few things well which means pretty much the same way in a certain way you will get your money at the end of each month. In other words your daily routine is pretty static (doesn’t change much) and to function in a static environment you need to have static thinking. Something that is static never changes and is immortal. The problem is that none and I mean NONE of our financial markets are static they are dynamic (change a lot). Worse yet when they change they often change a lot and really fast!
In order to survive as a real estate of stock investor you have to have dynamic thinking. Let me explain. I told you that there are hard money lenders in California that have been earning a good return. Hard money lenders start by either lending money to builders and rehabbers at the going rates for hard money funds which today are 15%. If they don’t have money they will have people invest through them. The hard money lender pays his or her lender at a lower rate like 13% and keeps the 2% spread for managing the money.
The safety in the deal is making sure that the property is worth a lot more than the hard money loan amount when the project is finished. Many of them start lending at 50% of the value of the project (loan to value ratio abbreviated LTV). Once they get confident (static) with what they have to do to make money many are now lending a 70% of the v
The best place to start this conversation is with a basic and simple definition of Strategic Thinking…It is the Owners / CEO’s VISION of what his or her company will look like in the future; it is the thought process that goes on in the head of that Owner / CEO and his key people; it is very much like Picture Painting, it is this picture that will drive the direction, nature and focus of the business.Put simply – Strategic Thinking attempts to establish...“WHAT” the organization should look like while Strategic Planning focuses on the HOW to get there.In general it has been my observation that most compan
Think about it. When you get up in the morning you jump out of bed and walk a certain number of feet in certain directions and you get your usual food and sanitation needs taken care of. It’s probably pretty much the same (if you are at home and not on the road) every day. You probably drive the same way to work every morning. You do pretty much the same activities each day to pull the pay check in or keep the business running. You generally assume that tomorrow is going to be much like today.
Your routine daily experience has taught you that if you do just a few things well which means pretty much the same way in a certain way you will get your money at the end of each month. In other words your daily routine is pretty static (doesn’t change much) and to function in a static environment you need to have static thinking. Something that is static never changes and is immortal. The problem is that none and I mean NONE of our financial markets are static they are dynamic (change a lot). Worse yet when they change they often change a lot and really fast!
In order to survive as a real estate of stock investor you have to have dynamic thinking. Let me explain. I told you that there are hard money lenders in California that have been earning a good return. Hard money lenders start by either lending money to builders and rehabbers at the going rates for hard money funds which today are 15%. If they don’t have money they will have people invest through them. The hard money lender pays his or her lender at a lower rate like 13% and keeps the 2% spread for managing the money.
The safety in the deal is making sure that the property is worth a lot more than the hard money loan amount when the project is finished. Many of them start lending at 50% of the value of the project (loan to value ratio abbreviated LTV). Once they get confident (static) with what they have to do to make money many are now lending a 70% of the v
Forex is short for Foreign Exchange, where money from one country is exchanged for that of another or the simultaneous buying of one currency and selling of another.When one deals in forex trading the profit or loss, he incurs is the increased or decreased value of an investment caused solely by currency movements. For example, if an investor thought that the US dollar was weak, he might purchase German Mark. The investor's, the real profit or loss could then be in how the Mark moves against the US$.Being the largest financial market in the world, the Forex market has a volume of more than $1.5 trillion daily. Also the
Your routine daily experience has taught you that if you do just a few things well which means pretty much the same way in a certain way you will get your money at the end of each month. In other words your daily routine is pretty static (doesn’t change much) and to function in a static environment you need to have static thinking. Something that is static never changes and is immortal. The problem is that none and I mean NONE of our financial markets are static they are dynamic (change a lot). Worse yet when they change they often change a lot and really fast!
In order to survive as a real estate of stock investor you have to have dynamic thinking. Let me explain. I told you that there are hard money lenders in California that have been earning a good return. Hard money lenders start by either lending money to builders and rehabbers at the going rates for hard money funds which today are 15%. If they don’t have money they will have people invest through them. The hard money lender pays his or her lender at a lower rate like 13% and keeps the 2% spread for managing the money.
The safety in the deal is making sure that the property is worth a lot more than the hard money loan amount when the project is finished. Many of them start lending at 50% of the value of the project (loan to value ratio abbreviated LTV). Once they get confident (static) with what they have to do to make money many are now lending a 70% of the v
How do you create a breakthrough in your business or your life? It's hard to see the possibility, to see that you can create a breakthrough, especially when times feel hard or tough. What it comes down to is getting out of your own way. How do you stop your own success? Do you sabotage yourself?Jinny Ditzler, in her book, "Your Best Year Yet" outlines a process for shifting your paradigm. As a program leader of the Best Year Yet program, I have seen this shift happen over and over. What I have witnessed is people creating break throughs by looking at themselves, their beliefs and their behaviors. How do you do this?<
In order to survive as a real estate of stock investor you have to have dynamic thinking. Let me explain. I told you that there are hard money lenders in California that have been earning a good return. Hard money lenders start by either lending money to builders and rehabbers at the going rates for hard money funds which today are 15%. If they don’t have money they will have people invest through them. The hard money lender pays his or her lender at a lower rate like 13% and keeps the 2% spread for managing the money.
The safety in the deal is making sure that the property is worth a lot more than the hard money loan amount when the project is finished. Many of them start lending at 50% of the value of the project (loan to value ratio abbreviated LTV). Once they get confident (static) with what they have to do to make money many are now lending a 70% of the v
Where Do Most of Your Clients Come From?When I meet people for the first time and they understand that I'm a marketing consultant, I'm frequently asked, "Where do most of your clients come from?" Many times I believe the question is asked innocently enough. But, quite often I feel like the person asking wants to know if I have a magic answer that might work for them.Most small business owners are passionate about the services they provide - not the marketing it takes to consistently find more clients. Many service businesses will admit that they're not really sure what works best or how to get going with
The safety in the deal is making sure that the property is worth a lot more than the hard money loan amount when the project is finished. Many of them start lending at 50% of the value of the project (loan to value ratio abbreviated LTV). Once they get confident (static) with what they have to do to make money many are now lending a 70% of the value of the project because they can place more money in the market.
The problem is that many of these “financially immortal” thinkers don’t remember when property values plummeted up to over 50% in some areas in the 1980s in California when the Keating scandal allowed Savings and Loans to lend at high LTVs and the real estate market collapsed when interest rates rose. Right now we have a combination of radical home price appreciation in markets like California where people have been accepting interest only mortgages tied to adjustable rates. The percentage of interest only adjustable rate mortgages in California is now over 40% where a few decades ago very few such mortgages were originated. Other states in this same predicament include Virginia, Arizona, and Colorado.
What few people today know is that interest only mortgages were a significant part of the problem in the great depression. In the roaring 1920’s housing prices soared and banks begin offering interest only mortgages. When the stock market and banking system collapsed and up to one third of the U.S. population lost their job house values plummeted and people could not sell off their homes to get out of these bad mortgages. A flood of foreclosures ensued all because people were assuming the roaring 20s boom would just continue because they were using financially immortal thinking that that says “what goes up never comes down.” The people who were dynamic thinkers cashed out their homes in the 20s and thrived in the great depression because they were not carrying lots of debt. THAT IS WHY I TEACH THE ENORMOUS VALUE OF FREEDOM FROM DEBT TO MY STUDENTS!
If the market does collapse and you are a dynamic thinker you might do well scooping up great deals from the financial immortals in their dying gasps. By the way this was the same thinking that got so many financial immortals in the stock market in trouble. The financial immortals believed The lie Wall Street was pushing that the stock market would never come down during the final part of the massive bull market in the 1990s. The dynamic thinkers were able to smell the bull$%^# all over Wall Street in 1999 and 2000 when all of the insiders were dumping their hi
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