Real (Estate) Crazy

In pursuit of...

noreply@blogger.com (rymoore) — Sat, 27 Dec 2008 21:53:00 +0000

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

noreply@blogger.com (rymoore) — Sat, 06 Dec 2008 16:24:00 +0000

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

noreply@blogger.com (rymoore) — Sat, 06 Dec 2008 05:13:00 +0000

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

Celebrate the Fallout

noreply@blogger.com (rymoore) — Fri, 05 Dec 2008 05:08:00 +0000

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)

noreply@blogger.com (rymoore) — Wed, 03 Dec 2008 13:07:00 +0000

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)

noreply@blogger.com (rymoore) — Mon, 01 Dec 2008 04:52:00 +0000

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

noreply@blogger.com (rymoore) — Mon, 01 Dec 2008 02:26:00 +0000

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

noreply@blogger.com (rymoore) — Fri, 21 Nov 2008 23:00:00 +0000

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

noreply@blogger.com (rymoore) — Sun, 16 Nov 2008 18:59:00 +0000

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

noreply@blogger.com (rymoore) — Sat, 19 Jan 2008 16:56:00 +0000

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

noreply@blogger.com (rymoore) — Mon, 07 Jan 2008 01:35:00 +0000

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)

noreply@blogger.com (rymoore) — Thu, 15 Nov 2007 00:49:00 +0000

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!

noreply@blogger.com (rymoore) — Sun, 11 Nov 2007 01:02:00 +0000

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)

noreply@blogger.com (rymoore) — Sat, 10 Nov 2007 22:20:00 +0000

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

noreply@blogger.com (rymoore) — Thu, 08 Nov 2007 23:53:00 +0000

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!

noreply@blogger.com (rymoore) — Mon, 05 Nov 2007 00:09:00 +0000

...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

noreply@blogger.com (rymoore) — Thu, 01 Nov 2007 22:43:00 +0000

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

noreply@blogger.com (rymoore) — Tue, 30 Oct 2007 01:42:00 +0000

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

noreply@blogger.com (rymoore) — Fri, 26 Oct 2007 03:25:00 +0000

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

noreply@blogger.com (rymoore) — Thu, 25 Oct 2007 16:19:00 +0000

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

Find the Best Deals on the Market for Free!

noreply@blogger.com (rymoore) — Tue, 23 Oct 2007 23:32:00 +0000

I'm out searching the web for some innovative ideas to expand my real estate business. I type in keywords that I hope will lead me to blogs and articles with new thoughts and creative finds. I hope to discover content that inspires hope and uncovers opportunities that will foster ideas that lead to great rivers of revenue and endless investment cash flow.

All that I find are sales pitches offering me their over priced products with 100% satisfaction guarantees or (worse yet) the doom and gloom of the media's spin on our current real estate market.

Well fellow investors, I'm here to fill the gap. Help me spread the word, the real estate investment market is golden and opportunities are everywhere. And, for all those who have your credit cards out, you don't even have to pay to find the best deals. They are right in front of you, they are on your street, they are on your MLS and your agent has them right in front of her. The only thing holding you back is that you have to know what a deal looks like.

I looked at the MLS with a client recently and found over 10 deals in one area that have just been sitting there waiting to be snatched up. I never knew they were there before because I didn't know what I was looking for. (Now I do. And my client not only picked up a deal but picked it up for 76% of the list price...and it was a great deal even at list price!)

So please, don't buy the next product on short sales, pre-foreclosure, foreclosure, reo, discounts off the list price, assuming loans, subject to, lease option, lease to purchase, assigning the deed, bond for deed, investment software, vacant homes, discount lists, email tools, marketing flyers, postcard systems...(deep breath). You already know all that you need to know. All you have to do is gather up your courage, set out some buying criteria and make sure you are managing your finances. (So, if you are currently using the "I've got checks left in my check book so I must have money left in my checking account" system, you do not currently qualify. You need to contact your local community college or H&R Block for some inexpensive or free classes...and that's OK! You've got to start somewhere. And it's a heck of a lot better than paying for some $6,975 seminar to train you how to use the special book keeping system that will earn you $3/hr invested or your money back, guaranteed.)

So, if you're qualified, set out your very basic list:
I want to make $200/month on a rental.
I want to start earning that by the 12th day of next month because it's my daughter's birthday.
I have $15,000 in cash.
I want the property to be within a mile of my house.

That's it. It's a very small list that you will expand upon as you move forward. The important thing is that you're ready to go!

The next step is to find out what homes are renting and selling for in that area. Look in the paper for rents. Call an agent for listings. Drive the neighborhood. Walk the neighborhood. Take a look at some listings. If you find a street you like, go knock on some doors! Eventually you will find a seller. (Especially if you are serious about that deadline...because you promised you're daughter that she'll get the first months cash flow for her birthday present.)

Don't buy a course. Don't watch TV. Don't surf the web. Just decide what you want and go look for the thing that fits...because it's right there. You know enough to at least get started. Go talk to an agent and join a real estate investing club. You might even find that another investor has the exact property you are looking for.

Deals speak for themselves and they are on almost every block. Stop wasting your time and start making some investments. And if you feel like you have to pay thousands of dollars for this sage advice, feel free to drop me a note. I accept paypal.

Don't Get Sued

noreply@blogger.com (rymoore) — Tue, 23 Oct 2007 01:03:00 +0000

There are so many things in life that we can spend our time on. As a free people (arguably) we are given the right to pursue life, liberty and happiness. Why is it then that we so frequently find ourselves pursuing the absolute opposite? (Am I the only one?)

Have you ever been in a position where it seems that your mind is running wild? Have you been at that place where it seems there is nothing you can do to derail the collision course that your mind has plotted with a full-on panic attack? Let me tell you about my most recent discovery on how to make yourself an insomniac.

Did you know that in order to sue someone you only have to go to the courthouse, pay some filing fees and send your unsuspecting victim a summons in the mail? (I'm sure that I've simplified the process a bit, but surely not by much.) You need no justifiable reason to file, just some cash to feed the county. (So, if you've got someone you want to play a nasty prank on and want them to go and pay some defense attorney a fatty retainer for a case that you never intend on showing up for, here's a great opportunity.)

Let's just say you are that lucky guy who gets the certified letter in the mail telling you to cancel all of your appointments and to strap yourself in for a months worth of days of anxiety attacks that lead up to your big day in court. What's next? Where do you go, what do you do, who do you get advice from? Oh yes, that's the other nice thing about getting sued; there's no one who really knows what is going on. I've talked with judges, clerks, attorneys, sheriffs, plaintiffs, friends and strangers and no one seems to know how the process goes exactly. (This includes my attorney...who filed the wrong form on my behalf. Thanks!)

I have found, though, that the more questions you ask, the more frustrated people get. I had the privilege of witnessing a woman, who was at wits end trying to figure out where she was supposed to go inside the maze of the county courthouse, receive a chastising from a deputy of the law because she was 15 minutes early and at the wrong end of the hall. (I'm sure she performed like a champ at her hearing.) It seems the only people willing to answer your questions are your paid legal counsel. And they are happy to talk with you...all day long...while the say nothing about their hourly fee. (Did you know that you can be charged a flat fee based on an hour worth of work for a basic email asking a "yes/no" question? I do now.)

In the end, I sit playing out an episode of a Shark court case in my mind, arguing my innocence, wondering why I'm being accused of this ridiculous claim in the first place and thinking all the while I'll probably be found guilty because I didn't wear a tie and I forgot to address the Judge as "Your Honor".

My tip for the day: Don't get sued. It's really a bother.

Five Steps to Overcome Screwing Up

noreply@blogger.com (rymoore) — Sat, 20 Oct 2007 21:39:00 +0000

I have devoted an enormous amount of time and effort (mostly time) to learning. What on earth went wrong?!?

I think I am a learning addict. I could sit for hours on end and watch people tell me how to become the next millionaire, scuba instructor, mountain climber, business owner, basket weaver, chef.... I can watch it on TV, at a seminar, in my office or even at the drive-thru.

I guess I just like to be told that I already have the power inside to do things. (Lots of things apparently.)

In reality, a person can do pretty much anything. Our limitations are mostly hampered by what we decide we want (or believe we are able) to do.

Here are five steps I have used that have picked me up off the sofa and started me on my way.

Discern, Decide, Act, Measure and repeat. (I guess it's only four steps.)

Discern: First you have to know what it is you are looking to accomplish. Identify your objective. Before I started my career in real estate I had no clue which business field I wanted to pursue. I looked into returning to college to get a masters degree. I investigated retail sales. I looked into franchise opportunities.

I placed all these opportunities out in front of me and gave them all a fair try. I weighed the advantages and disadvantages. I discussed them with my family and friends. I gave myself a deadline to make a decision. (It is a critical piece in the process to have a time frame in which to get this all accomplished.)

Decide: From the pile of options, select the one that seems to have the greatest potential. The good part is that It doesn't matter if it is the right one or not. (The mistakes take care of themselves in this process.) I grabbed the one that seemed best and told some people about my decision. "Hey dad, I'm going to get involved in real estate!"

Another bonus, it doesn't matter if the people you tell like your decision or not. (It's always nice to have support, but it's not essential.) The goal here is that I've just made it apparent to others that I am making some decisions. (Congratulations!)

Now I've created an expectation and invited some watchful eyes to see that I am actually doing something.

Act: Nothing else to do now except something. DO SOMETHING! The great part about this step is that you only need to do one thing. You don't have to achieve your goal in this step, just do something.

My goal was still amorphous at this time. All that I had decided on was to have a career associated with real estate. All I had to ask now is "What will get me one step closer to that?" Pretty much anything.

I acted by surfing the web for license laws in my state. Boom! Done! I didn't own a 4-plex. I didn't have my license. I wasn't even scheduled to take any courses. I just did some web surfing and I had completed my action goal. And it was so easy.

Measure: This step is as much about celebrating as it is anything else. Through these last steps you just made some big strides away from where you were and have firmly relocated yourself to the place where you are right now. This step is all about letting you know where, exactly, you have relocated yourself to.

What direction did those choices and research take me? Am I closer to my goal?

Even if you're not, you can still give yourself a big pat on the back because it's likely that you just did more in these last three steps to improve your personal situation than you have done in the last 3 years. (Good for you!)

Discern: You've moved through one full cycle of the process towards accomplishing a new goal. This time the discerning step is to figure out if this is the right direction or if you would prefer to go back to that original pile of ideas...or take what you've learned and start a new pile. Then move on to the next step.

Do you like where you are in relation to where you were before? Do you still like your goal?

Here's a wrap-up of the entire process from my example:

I discerned my possible options for a career.
I talked with trusted people about my opportunities.
I decided to move towards real estate.
I told some people about my decision.
I checked out license information on the web.
I reviewed my progress thus far and see where I've landed.
I discern again, is this good or bad? Do I like what I've found?
Yes, I do!
I decide a next action.
I take the step.
...and so on.

What I love about this process is that it takes me forward to do things I wouldn't normally do. Partly because it is more of a game to me and partly because I make it a point to tell people about what I'm working on now. (It's amazing how other people keep tabs on my progress.) What's great is that even when I decide to go a new direction I always have confidence in that new path because I've used a system that allows me to try new things without feeling like I've wasted my time or just plain screwed up.

I want to buy investment property!

noreply@blogger.com (rymoore) — Fri, 19 Oct 2007 14:04:00 +0000

In the last 5 years I have heard so many people shout that statement. "I want to buy investment property!" Like it's something that's done over a lunch break. Of all the people who have uttered these words, probably about half have acted on their statement. (Myself included in the...we'll call mine the slow performing half.)

For those who were daring, crazy, stupid, lucky or just plain smart...it is an exciting thing to see a new investor make that commitment and pick up their first property or two.

The killer is when you see the excitement slip away and, as the panic starts in, they realize that they have no clue what they have just stepped into. "How do I SELL my investment property?!?"

I don't know how you respond when you hear about some newbie investor who just walked away from their first closing with more in their pocket than you cleared all year at your 9 to 5 (that you are desperately trying to justify leaving if only to make 1/10th of what that guy just cleared). I hope you agree, though, that seeing a once zealous newbie investor fizzle, struggle and possibly fail is depressing. (Especially if you happen to be that newbie.)

What amazes me is that there are deals out there to be had. The market is full of possibilities for landlords...even quick turn rehabbers. As an agent, I see the successful investors quite frequently. They've got the mastery of this thing called REI. They shock me with the deals they get when they buy. They shock me with the prices they sell for. Even on the deals that seem to go sour there is "lemonade being made" somewhere. I'm told to make your money when you buy, not when you sell.

So here's my question: How does an investor KNOW when they've got a deal?

The simple answer is calculations. The long answer is....

The long answer begins by determining what tools you have to help you locate the answer. I've got some great tools! I've got access to the MLS, a data savvy friend and a handful of investors who want to find more/better deals.

It looks like I'm on my way. And, as the calculations are refined, I'll be happy to share my findings with you. Because, just like you, "I want to buy investment property!"