Frey Funding, LLC
|Posted on August 4, 2018 at 9:10 PM||comments (5)|
Just sharing something I read lately lately:
We live in such an amazing time: there is so much information at our fingertips. I can jump on Google and search for something, spend a few minutes on YouTube to see how something is done, or hit up Amazon to get an expert’s book.
The INFORMATION is great.
Problem is, there’s so damn much of it.
What people really need (and often don’t even realize) is INSIGHT.
You can get the steps and strategies and systems from one expert or another, from guru or another; that’s the INFORMATION. But how do you know what works for you? How do you know which is right for your business? How do you actually build it into your unique situation? That’s where INSIGHT comes in.
Look, you can go out and get another book. But have you actually implemented all the stuff in the books you already have? Something to think about......
So at your next Group meeting or Group call focus on INSIGHT!!!!
Courtesy of Joe
|Posted on July 2, 2018 at 9:40 PM||comments (0)|
I was told once that life revolves around the law of Attraction. We wonder why a small group of people get what they want while others struggle. It has all to do with their attitude and positive thinking in life. This positve thinking creates the energy that attracts all that you wish for and desire. This of course comes with effort on ones part but it is that positive mindset that sets them apart. There are three simple steps they follow
1. Ask - they ask for what they desire
2. Believe - they believe it would happen
3. Receive - by believing that they what they ask for they recieve.
Remember these three and work it.
|Posted on January 11, 2017 at 10:05 AM||comments (0)|
Ask yourself what would have happened if you had not done what you actually did, or if you had made the opposite choice.
Have you ever done the same?
Second guessed yourself?
I'm sure you have.
(and I know many people who do it routinely...)
Do you beat yourself up over what might have been?
But how do you REALLY know?
That's the question.
And that's the problem.
You don't know.
What would, or would not, have happened if you had crossed the road at that exact moment?
What would, or would not, have happened if you never asked that girl to dance?
What would, or would not, have happened if you had never "taken that chance" and gone off into business for yourself?
And on, and on, and on...
You can drive yourself nuts thinking of all the possibilities and permutations.
The thing is -- -- that you are where you are because of the choices that you made, knowingly or unknowingly.
You CANNOT predict what exactly will, or will not, happen.
You just have to roll with the punches and deal with what is presented to you.
So make the best choices you can.
Pursue the path you want to be on.
Fight for the outcomes you want to have.
I have and Failure or Success, I made choices
Did those Choices Pay off?
But I'm thrilled that I did.
-Courtesy My Real Estate Mentor
- Tom Zeeb
|Posted on October 26, 2016 at 5:40 PM||comments (0)|
Planning is Only Half the Battle
You've planned your day. The schedule is set. You're ready to do this, right?
Not yet, according to Craig Jarrow, author of the blog, Time Management Ninja. You also need to prepare.
Think of planning as the first phase and preparation the second. Here are six tips Jarrow offers to help you with preparation:
1. Do it the night before.
Preparing the night before allows you time to get everything organized and take care of any missing pieces. Waiting until the "day of" can lead to a last-minute scramble (ever scrambled to find a missing item on your way out the door?).
2. Do it well in advance whenever possible.
This is especially important when preparing for a big event. Gather materials several days beforehand. Getting everything together early allows more time to remedy any unforeseen issues.
3. Do the (pre) work.
Preparation is all about doing as much of the work as possible in advance. Read the materials, review the data, and practice the activity. When the time comes to do the work, you'll be ready.
4. Save time.
Don't allow yourself to believe you don't have time to prepare. Good preparation saves time by reducing errors and helping to prevent the need to re-do mistakes. It also shortens activities. For example, a well-prepared meeting takes less time to conduct.
5. Reduce stress.
Being prepared means being confident. That means less for you to worry about, which reduces stress.
6. Make it a habit.
Practice preparation part of your lifestyle, rather than just on occasion. You'll reap the benefits every day.
|Posted on October 8, 2016 at 5:15 PM||comments (0)|
5 Key Shifts for the Real Estate Investor
1. OPERATE WITH TOTAL INTEGRITY
a. Never let a client (Seller / Buyer) do anything that is not in their best interest
b. No escaping cause and effect
c. Successful investors emanate qualities of professionals they desire to work with
d. Be the best and everything you do would reflect such
2. LASER SHARP FOCUS
a. Focus on one strategy. Is yours wholesaling, rehabs or buy & hold
b. Factors to decide: - 1. Capital; 2. Time; 3. Experience
3. BUILD A ROCK SOLID FOUNDATION FOR YOUR EMPIRE
a. Business Plan
b. Build your team ( Real Estate Agent, Lawyer, Accountant, Virtual Assistant and Contractor)
c. Implementing the right system & tools for automation
4. SECRET WEAPONS
a. The power of Social Media
b. Today’s internet - Resources: - e.g. Drop Box, Docusign
c. New Online Platforms to automate and systemize your business
5. Invest in Mentoring
a. There is one common core characteristic of all successful people (especially in REI), they all invested in Training.
|Posted on June 2, 2016 at 6:50 AM||comments (0)|
1. Starting, building, and successfully running a real estate business doesn’t happen overnight. So be patient my boy, and keep focused on your dreams and goals. Patience is indeed a virtue.
2. And speaking of focus, son, a lot is going to happen along the way to distract and derail you. Your success is dependent on your ability to focus. And to get back on track when life throws you off.
3. There'll be lots of temptation along the way to cut corners and cheat "just a little bit". Don't fall for that slippery slope. Your word and your integrity are all you really have in the end.
4. Trust but verify, young man. What people *do* and what people *say* are often quite different. So don't rely on what people say. Watch their actions and take mental note, because what they actually DO will tell you everything you need to know about them.
5. You need to think like a successful person. So surround yourself with successful people. They'll rub off on you. (Just like being around "losers" will rub off on you too).
6. Never be afraid to enlist the help of a coach and mentor. They will make you stronger. Just like in the sports you play, a coach helps guide you and push you to new heights. No man is an island. Everyone learns from someone. So choose, and choose wisely.
7. Marketing is about finding the itch that people have and then scratching it. It's about finding people's buttons, and then pushing them. You want to connect with your market as specifically as possible. This means you have to do some serious research first. Don't skip this most important of steps or you'll be frustrated in failure. Don't be afraid to get help if this part isn’t your strong suit.
8. "Winners never quit, and quitters never win." Yes, you've heard that one before, but stop for a minute and really think about it, son. Let it really sink in. Realize the ramifications. And then simply don't be a quitter.
9. Build a business that fits your personality. Make a positive impact on the world around you. Then you'll love what you do and you'll be happy doing it. It simply won't feel like work. That's a great position to be in.
10. Get started now. Don't wait. Because waiting for things to be "just right" never works. It is never the perfect time anyway, so just make NOW the time and get started. The sooner you start, the sooner you'll get there. Don't wait for next year, don’t wait for next month. Just start now. The only thing you'll ever regret is not having done something when you could have. Waiting gets you nowhere.
11. Your mother and I love you and we always will. Make us proud. Then teach the same to your boy someday.
|Posted on May 11, 2016 at 9:30 PM||comments (0)|
1. Prepare yourself with facts.
Before entering into a negotiation, arm yourself with factual information. Get as much information as you can that is relevant to the subject of negotiations. This also involves asking yourself a series of tough questions. Why do you want to do this deal? Why does the other side want to do it? What's in it for everyone? Then work to get information that benefits not only your position, but theirs, as well. Having facts on your side gives you a position of strength and instills confidence.
2. Decide what you want to achieve before you begin.
Great negotiators know what they want before entering into a discussion. Better yet, they know what they won't accept. Most, if not all successful negotiators say that they have a "walk" point. If you aren't willing to walk away, then you're potentially setting yourself up to make a bad deal.
Also, know going in that you aren't going to win every point. Decide in advance what parts are important and what parts you're willing to concede.
And never, ever concede beyond your "walk-away" point. Losing a bad deal is always preferable to making one.
3. Always search for the "win-win" scenario.
Too frequently, people think of a negotiation as a zero-sum game. This means that one party wins and one loses. Successful negotiators see a negotiation as an opportunity for both sides to win. Author Jeff Weiss refers to this as "negotiating to interests." For example, in a salary negotiation, the employee wants a higher amount than what is offered, but the salary isn't flexible for the employer. Seeking creative solutions to fill the gap is a way to create a "win-win" scenario. Perhaps the company can provide flexible work hours, daycare reimbursement, graduate school tuition, etc. that don't cost it much but are of tremendous value to the employee.
4. Treat the other person fairly.
Research data provides an interesting revelation about negotiations. Many times, a negotiation breaks down because one party feels that the other wasn't treating them fairly. What does this mean, exactly? In most cases, it means emotions and ego overcame rational discussion. Pounding on the table and giving an ultimatum may make for great theater in a movie or stage play. But in real life, these things rarely get deals done. Keep a cool head, be respectful, and treat the other people at the table the way you want to be treated. These things will go a long way toward not only getting this deal done, but giving you a reputation as a fair dealer when the next negotiation comes along.
5. Get a decision.
All of the brilliant planning, strategy, and tactics employed by the most skillful negotiator are meaningless without an agreement. This can often happen when the other side just can't get to a decision. Indecision can come from many places, but as a negotiator, you should be prepared for it in advance. Make the decision part of the negotiation, and do it early in the process. Set a timeline, discuss the criteria, map out the hurdles that might delay getting a final agreement approved and implemented.
|Posted on April 27, 2016 at 2:10 PM||comments (0)|
Posted by Homesnap on 4/25/2016 in DC Metro Area, 20601 (Waldorf, MD)
Home sales in the 20601 zip code market stayed sluggish in this week's report as they fell 15.4% to 22 homes sold over the last 30 days. Within the same time frame, the 20744 zip code had 48 sales, the most of all zip codes in the area. The median sales price rose to $285,000, up from last week's $241,560.
|Posted on February 21, 2016 at 3:15 PM||comments (0)|
In real estate investing, especially house flipping, almost everyone is focused on entry strategies as opposed to house flipping exit strategies.
Most people are focused on how to find property to flip, how to work with wholesalers, how to wholesale property, working with real estate agents, etc.
Having solid house flipping exit strategies can be a life saver but unfortunately, they do not always guarantee that unfortunate things you hadn’t anticipated might happen. Exit strategies are simply back up plans. So if things do not go your way, you have a plan B.
The feeling and excitement of purchasing a house and rehabbing it is all too familiar. It’s an ecstatic feeling especially when you walk out of the deal with a big fat check.
You should try to figure out your house flipping exit strategy when your deal is already going south. You should have a plan even before you start working on your project. Exit plans do not just apply to house flippers; it also applies to people who buy and hold to sell when the market appreciates or for long term rental income.
House Flipping Exit Strategies
Time and again we have talked about mindset and always thinking positively. But we always emphasize that you should hope for the best and prepare for the worst. Having said that, here are four house flipping exit strategies that you can utilize.
You might come across a buyer who wants to purchase property but they are not in a position to get a traditional loan. They have a steady source of income but are unable to meet the price you want at the moment.
Don’t despair. A lease option is a great way of getting clients to agree to your asking price without making them feel like they are going way over their budget.
Here’s how it works. You draft an agreement between you and the buyer where the buyer agrees to make a down payment. They then rent the property until they are in a position to purchase it. find out if your lender is willing to extend your loan for a longer term. If not, then you will have to find a financial institution or a bank that will refinance your loan.
2. Determine Your Break Even Price
Real Estate CalculationsYou should be prepared to lower your price such that you only lose a little money or you break even. Either way, you should not lower your price such that it is ultimately catastrophic to your business.
You can think of price reduction strategies by calculating your monthly carrying costs. You should also know the exact date when your loan matures and plan towards it.
If leasing doesn’t seem like a good option, you can always rent out the property. You can rent it out at prevailing market rates. This can be very advantageous especially if there is a demand for rentals in your area.
If your source of financing has high monthly payments, you can lower your monthly costs by re-financing into a long-term mortgage.
4. Take The Loss
Sometimes you just have to accept a loss if you try all the exit strategies and they do not work. You just have to learn from your mistakes and make better decisions next time.
Common Investor MistakesThe biggest mistake you can ever make is counting on funds from one purchase to find another flip shortly thereafter. Don’t get it wrong-it’s okay to use money acquired from one flip to fund another one but what if you do not close the deal in time to purchase the next property? This is why you should always have money from other sources to finance your next flip.
|Posted on August 13, 2015 at 10:35 AM||comments (0)|
Simple vs. Easy, the Power of Execution and how to Stop Over-Complicating Everything!!
Do you know the saying “If it was easy, then everyone would be doing it”?
It’s often applied to real estate (and business) by many people, including me.
Well, people often mistake “easy” with “simple”.
See, real estate is often positioned (and sold by gurus) as an easy business.
“Buy low, sell high, make money.”
“Easy” means it doesn’t require much work. Anyone can do it, anyone can be successful overnight.
But when you get into the nuts and bolts, all excited by the possibilities of quick paydays and big riches, with visions of big mansions and yachts and fancy cars that you will undoubtedly be able to afford by next month, you realize that there’s a lot more that goes into this business than you were told.
And then you come to the realization that this business actually takes a lot of work.
What the gurus and the media and the late-night informercials mean when they say real estate is “EASY” is actually that it’s “SIMPLE”, not “easy”.
Easy = doesn’t require much work and can be done by anyone.
Simple = the concept itself is easy to master, though it requires work to bring to life.
“Buy low, sell high” – simple concept, but one that still requires execution and work. Thus – not easy!
“Find a motivated seller, connect them to hungry buyers” – simple concept, but one that still requires execution and work. Thus – not easy!
“Find a house, rehab it, rent it out and collect checks for life” – simple concept, but one that still requires execution and work. Thus – not easy!
The most successful people I know in real estate are NOT the smartest. They didn’t start out wealthy or have fancy educations. They are not the most analytical, or thoughful, or mathematically gifted. They don’t need to be super smart because the concepts are simple.
But they execute ferociously. They are hustlers.
They go deep into one niche, they don’t go wide and try to learn every real estate strategy there is.
They don’t overcomplicate this business – because remember: it’s SIMPLE.
But they realize it’s not EASY and that it requires real hustle and hard work and building REAL relationships.
And it requires execution.
Here’s what I mean and here’s how you must approach execution:
Simple Concept => Execution
So the execution plan would be:
1) Research what cash buyers are buying in what market
2) Go find similar deals and put them under contract
3) Flip the contract to buyers (they’re everywhere – trust me)
This is the kind of execution plan that will make you money out of the gate.
Simple Concept => Targeted Execution => Results
So let’s recap:
If something is easy, it means anyone can do it and there’s probably a ton of competition because the business has no barriers to entry, requires little work, and can be done by anyone.
If something is simple, then the concept is easy to grasp, but the business requires hustle and execution. This makes for a great business because it doesn’t require a business degree, a PhD or lots of money to start, but it requires the one quality that most people lack: ability to execute fearlessly and strategically.