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Happy Father's Day Real Estate Investors!
I don't know what your big why is for pursuing financial freedom through real estate, but I can tell you for me, it's being able to be with, support and love my two amazing sons, of whom I am proud beyond measure. While I would describe the relationship with my own dad during my teen years as rocky and rebellious, I now realize how much love, and all the amazing gifts he gave so selflessly to me. Brings to mind something Mark Twain is reputed (though actually not) to have said… "𝘞𝘩𝘦𝘯 𝘐 𝘸𝘢𝘴 𝘢 𝘣𝘰𝘺 𝘰𝘧 𝘧𝘰𝘶𝘳𝘵𝘦𝘦𝘯, 𝘮𝘺 𝘧𝘢𝘵𝘩𝘦𝘳 𝘸𝘢𝘴 𝘴𝘰 𝘪𝘨𝘯𝘰𝘳𝘢𝘯𝘵 𝘐 𝘤𝘰𝘶𝘭𝘥 𝘩𝘢𝘳𝘥𝘭𝘺 𝘴𝘵𝘢𝘯𝘥 𝘵𝘰 𝘩𝘢𝘷𝘦 𝘵𝘩𝘦 𝘰𝘭𝘥 𝘮𝘢𝘯 𝘢𝘳𝘰𝘶𝘯𝘥. 𝘉𝘶𝘵 𝘸𝘩𝘦𝘯 𝘐 𝘨𝘰𝘵 𝘵𝘰 𝘣𝘦 𝘵𝘸𝘦𝘯𝘵𝘺-𝘰𝘯𝘦, 𝘐 𝘸𝘢𝘴 𝘢𝘴𝘵𝘰𝘯𝘪𝘴𝘩𝘦𝘥 𝘢𝘵 𝘩𝘰𝘸 𝘮𝘶𝘤𝘩 𝘩𝘦 𝘩𝘢𝘥 𝘭𝘦𝘢𝘳𝘯𝘦𝘥 𝘪𝘯 𝘴𝘦𝘷𝘦𝘯 𝘺𝘦𝘢𝘳𝘴." Whether you have kids or not, take a moment to appreciate at least one little thing your father gave you.
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Walked an Amazing Fixer Today — Can You Guess Why It Hasn't Sold?
It takes a sharp eye to catch all of the pitfalls you can run into with a fixer. This is where a good checklist comes in. We all have blind spots, and some can be massive profit killers. Like the one I didn't catch until I walked the property today. 𝗧𝗵𝗲𝗿𝗲'𝘀 𝗻𝗼𝘁𝗵𝗶𝗻𝗴 𝗹𝗶𝗸𝗲 𝗮 𝗽𝗵𝘆𝘀𝗶𝗰𝗮𝗹 𝘄𝗮𝗹𝗸𝘁𝗵𝗿𝗼𝘂𝗴𝗵 𝘄𝗶𝘁𝗵 𝗮 𝘁𝗵𝗼𝗿𝗼𝘂𝗴𝗵 𝗰𝗵𝗲𝗰𝗸𝗹𝗶𝘀𝘁 𝘁𝗼 𝗲𝗻𝘀𝘂𝗿𝗲 𝘆𝗼𝘂'𝗿𝗲 𝗻𝗼𝘁 𝘄𝗮𝗹𝗸𝗶𝗻𝗴 𝗶𝗻𝘁𝗼 𝗮 𝗺𝗼𝗻𝗲𝘆 𝗽𝗶𝘁. - The right checklist helps you see a realistic picture. - It gives you negotiating power. - And it boosts your confidence in making decisions, whether in favor or against making buying decision. Take a look at this video and see if you can guess the one thing I hadn't noticed until my walkthrough: https://www.youtube.com/watch?v=OXySUmVnIQ4
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Taking a Bite of The Frog First Thing in Morning for the Win
"𝘐𝘧 𝘪𝘵'𝘴 𝘺𝘰𝘶𝘳 𝘫𝘰𝘣 𝘵𝘰 𝘦𝘢𝘵 𝘢 𝘧𝘳𝘰𝘨, 𝘪𝘵'𝘴 𝘣𝘦𝘴𝘵 𝘵𝘰 𝘥𝘰 𝘪𝘵 𝘧𝘪𝘳𝘴𝘵 𝘵𝘩𝘪𝘯𝘨 𝘪𝘯 𝘵𝘩𝘦 𝘮𝘰𝘳𝘯𝘪𝘯𝘨." ~ Mark Twain In his famous book, 𝘌𝘢𝘵 𝘛𝘩𝘢𝘵 𝘍𝘳𝘰𝘨!: 21 𝘎𝘳𝘦𝘢𝘵 𝘞𝘢𝘺𝘴 𝘵𝘰 𝘚𝘵𝘰𝘱 𝘗𝘳𝘰𝘤𝘳𝘢𝘴𝘵𝘪𝘯𝘢𝘵𝘪𝘯𝘨 𝘢𝘯𝘥 𝘎𝘦𝘵 𝘔𝘰𝘳𝘦 𝘋𝘰𝘯𝘦 𝘪𝘯 𝘓𝘦𝘴𝘴 𝘛𝘪𝘮𝘦, business coach and author Brian Tracy outlines a simple habit most people won't do. Today, I was faced with three conversations I was imagining would be tough. And they were! But I got through them and, and as one my mentors, the great Ron LeGrand would say, "Nobody died." 𝗚𝗲𝘁𝘁𝗶𝗻𝗴 𝘁𝗵𝗲 𝗵𝗮𝗿𝗱 𝘁𝗵𝗶𝗻𝗴 𝗱𝗼𝗻𝗲 𝗙𝗜𝗥𝗦𝗧. If you find yourself not being as productive as you like, look at your to-do list. Are getting the hardest, scariest, yet often most productive things done, or do they keep getting put off? "Eating that frog" first thing in the day harnesses your energy at its daily peak. Once out of the way, the rest of the day seems easier. And perhaps most importantly, it boosts your confidence that you can do the seemingly impossible. 𝘞𝘩𝘢𝘵 𝘤𝘰𝘶𝘭𝘥 𝘺𝘰𝘶 𝘢𝘤𝘤𝘰𝘮𝘱𝘭𝘪𝘴𝘩 𝘵𝘰𝘮𝘰𝘳𝘳𝘰𝘸 𝘪𝘧 𝘺𝘰𝘶 𝘬𝘯𝘦𝘸 𝘺𝘰𝘶 𝘤𝘰𝘶𝘭𝘥 𝘥𝘰 𝘢𝘭𝘮𝘰𝘴𝘵 𝘢𝘯𝘺𝘵𝘩𝘪𝘯𝘨?
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The #1 Success Factor in Real Estate Investing Today
The more I play this game, the more I realize the winning factor. It's not about luck, or personal resources, or even your network. The key that unlocks success in real estate investing, today more than ever is one thing: Your SYSTEMS. You have a system for accomplishment, whether you know it or not. The question is, is it moving you toward your goal, or not? How can you tell if your system is working? 1. Measure it: Can you put numbers to your progress? 2. Use it: Are you and/or your team members actually using it, or is something else driving action? 3. Adapt: A good system adapts fluidly to various challenges as they arise. What KPIs are you using to measure progress?
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The #1 Success Factor in Real Estate Investing Today
𝗜𝘀 𝗢𝘄𝗻𝗶𝗻𝗴 𝗬𝗼𝘂𝗿 𝗗𝗿𝗲𝗮𝗺 𝗛𝗼𝗺𝗲 𝗠𝗼𝗿𝗲 𝗗𝗿𝗲𝗮𝗺 𝗧𝗵𝗮𝗻 𝗥𝗲𝗮𝗹𝗶𝘁𝘆 𝗧𝗼𝗱𝗮𝘆? 😳
Found this interesting chart in my rambles today. Rare to see inventory increasing like that here in my hometown of Boulder. From ~300 to 1,200 units. What’s that, about a 400% increase? I like to follow three key indicators of future house pricing trends: - Affordability (wages to house prices) - Migration (in or out of area) - Trustee Sales (foreclosures) So, how do we measure up here in the colorful state? 👉 Right now, Colorado is one of the top five least affordable states in the U.S. 👉 It’s currently losing population. 👉And trustee sales are rising. No wonder we see inventory rising and a more balanced market between buyers and sellers. Not fire sale time, but portending lower prices. Not so great for sellers. But good news for buyers who can get the best rates. What are you seeing in your area?
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𝗜𝘀 𝗢𝘄𝗻𝗶𝗻𝗴 𝗬𝗼𝘂𝗿 𝗗𝗿𝗲𝗮𝗺 𝗛𝗼𝗺𝗲 𝗠𝗼𝗿𝗲 𝗗𝗿𝗲𝗮𝗺 𝗧𝗵𝗮𝗻 𝗥𝗲𝗮𝗹𝗶𝘁𝘆 𝗧𝗼𝗱𝗮𝘆? 😳
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