Forum Replies Created
I had the good fortune to be at a seminar run by them with Bernard Zick. Great stuff! As posted previously, it was all on different ways of using options that were very creative. Apparently ol’ Bernard’s been around the tracks for a very long time and claims to have trained 23 known property “guru’s” (the only one I recognised in the list was Robert Allen).
The book I read by Paul Hanna a while back was a bit bland (of the “You can DO it! Yes, you CAN! REALLY!” school) but the seminar was excellent. Can’t speak for what Paul & Danny themselves are like as speakers, but in my mind every one’s a great source of knowledge. You just need to decide which area of their lives you want to learn from, and as Anthony Robbins puts it (grossly paraphrased) whether that aspect should be “an inspiration or a warning” to you!
The (property) options course I did was, thankfully, an inspiration. [
]Quasimodo
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It seems to me that action has a most magic way of answering all the questions our fearful mind tries to throw before us…
__________________________________________________I’d say any rebate is just another number to plug into your financial calculator when doing your due dilligence calculations. I remember Peter Spann saying on one CD that most Australian banks make as much (or more!) from their mortgage fees as they do from the interest (as all their customers focus on getting a low, low interest rate beyond all else). Sure X hundred dollars isn’t something to be ignored, but if they’re charging it back (and then some!) by giving a higher commission to get your broker to put you into an unflattering loan then what’s the point? Ultimately what seems to matter most to me is (still) just putting all the associated numbers through a calculator and figuring which loan takes you closest to your goals.
Let all the numbers decide! All else is financial candy. [
]Quasimodo
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It seems to me that action has a most magic way of answering all the questions our fearful mind tries to throw before us…
__________________________________________________Hey there Steve!
A very engaging introduction! I loved the use of a story to begin as it immediately drew my imagination effortlessly into the book. I especially loved the part:
it dawned upon her that she was now able to enjoy a permanent long weekend for the rest of her life.As not many people have ever entertained the idea of what they would do if they never had to work again, but EVERYone knows they would love more time for what they do on “special” events like long weekends!
To be completely honest I always tend to find myself skipping over parts in any introduction that proclaim “if XXXXX then this is for you”. In my mind the most compelling reason for me to buy a book, is if what they say they’re going to teach is a)relevant to me and b)credible. We all have umpteen people proclaiming they have just what we need which for me provokes a “I’ll be the judge of that thank-you very much! Just give me the info to do it! Now! [
]” feeling.I love your indirect way of dispelling people’s fears by having “other” people being the one’s saying “I’m too busy” etc. A great way to address readers fears before they have a chance to turn into skepticism!
One NLP technique I’ve found consistently useful is using a “moving towards” frame as much as possible, or in English, talking about what you’re aiming for. In this sense, we’ve all read “This isn’t a get-rich quick scheme” many times… usually from people promoting get rich quick schemes! [xx(] This sentance may be more powerful stating what kind of book this *is*… IE “This is a book that will surely and steadily allow you to build excess income that doesn’t care if you’re spending time with your family or not.” The point here is that the verbs “surely” and “steadily” imply that you’re not talking about overnight riches while giving the reader something positive to focus on. I’m sure you can come up with far better ways again than my (briefly thought about) example!
These minute ideas aside, your introduction kicks a$$ (especially the reference to modern day slavery! [
] ). I know I’m planning on buying copies of it for myself, my family and any investors I work with in future – and if just your introduction can convince people to do that… then I fugure you must be doing something extremely right!Looking forward to helping your sales hit a million+
Quasimodo
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It seems to me that action has a most magic way of answering all the questions our fearful mind tries to throw before us…
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Read as much as you can on the topic, get some good people around you to advise you (eg lawyer, mentor, insurance broker), find out what repairs will earn the most $ back, look at lots of comparable sales in the area and go make some offers!
Good luck! [
]Quasimodo
PS Reading every post that’s been left here from page 1 onwards will also give you a great head start!
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It seems to me that action has a most magic way of answering
all the questions our fearful mind tries to throw before us…
__________________________________________________Hey AD!
Good to have you back!
Personally I’m up to a whole lotta plottin’, planning and goal setting as I get ready to move to back to Oz (up to Qld for a change!) and start wrapping like a wildman! (or so the plan has it! [
] ). Two weeks and one marriage (to a most wonderfull Canadian []) to go! (April 13’th!)
The areas are (roughly) selected, we’ve been watching houselistings for weeks, LOL! We’ve even selected the charity we’re going to tithe part profits to! [^]Goodbye snow… hello Queensland palm trees…[
]T minus 15 days and counting!….
Quasimodo
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It seems to me that action has a most magic way of answering
all the questions our fearful mind tries to throw before us…
__________________________________________________As Soosh says, a building inspection is vital.
I’d add to that list a title and pest inspection along with running comparable sales. You can get these either from an independant company such as rpdata, home price guide, property value etc or by asking your agent for comps – just be aware they may choose to only show you ones that suit them!
I’d also check out the vacancy rates (often these can be gotten from the relevant state government statistics dept) and what rents are like in the area as you wouldn’t want to put your monthly payments massively above these (like more than 20-40%).
That should keep you busy! [
]Quasimodo
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Funny how action has a way of answering all of our fearful questions…
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and ask that you will sign the offer and the contract in the office ,but you require the vendor to be there to countersign.I think I’m missing something here… What’s the purpose of this? So you can negotiate with the vendor face to face? So the agent can’t make up phantom bids?
Hooooo boy. Back to bed, Quasimodo! [
]___________________________________________________________________________
Funny how action has a way of answering all of our fearful questions…
___________________________________________________________________________Thanks EnjoLady!
We get good stuff from so many people here!
Some of it occasionally about real estate! [
]Quasimodo
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Funny how action has a way of answering all of our fearful questions…
___________________________________________________________________________Seems to me that we (humans) need enough uncertainty (=variety=growth) to test us, but enough certainty (=security=assurance) to protect us from running smack into doing something stupid!My instinct is that the key is constantly looking at where we are between these two poles and investing there accordingly. That way, you start with something simple that you can feel secure enough to have a good experience (as opposed to an experience that associates investing to terror and pain! [xx(] ) and then work up to the higher return, more complex deals. Most successes I’ve read about weren’t satisfied with inaction, but they did start small.
I have to admit that I personally am more the “Let’s jump off a cliff to see if we can fly! [
]” type of personality. It’s given me some great experiences, but I won’t pretend I never hit the ground! []. I believe that Shakespeare summed what I’m saying up best: “To Thine Own Good Self Be True”.*sigh* School was good for something I guess! [
]Quasimodo
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Funny how action has a way of answering all of our fearful questions…
___________________________________________________________________________True, you need to factor in vacancies, or find a creative way around them! [
] For example if you look up the area and see that there’s an 8% vacancy rate, I’d assume that your place is going to be vacant 10% of the time when crunching your numbers.One alternative to just assuming the worst on rental vacancy is to line a tennant up *before* purchase through something such as an “agreement on sale”. This way you can negotiate a property with a 30 day escape clause with the right in that time to show the property to prospective “occupants” (as this could mean either a tennant or purchaser). If you find someone who likes it, you get them to sign a agreement on sale document that states if you buy the property then they will rent / wrap purchase it. This way when you buy it, you have a contracted tennant already arranged. If there is no interest in the property from tennants whatsoever, you can invoke the escape clause.
This does require more negotiation skills as obviously not every vendor will be thrilled with the idea of a 30 day escape clause, however if by having the security of this clause, you can offer them a higher price, knowing that your profit is assured (and that you don’t need to factor in above average vacancy rates) then the vendor and you may just have found a win win solution.
As in any problem solving the question is what really is the problem? Are they more interested in a higher price (:. use the 30 day method) or a faster settlement (:. they’ll need to be more flexible on price).
Anyone have any other ideas on protecting your profit upfront?
Quasimodo
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Funny how action has a way of answering all of our fearful questions…
___________________________________________________________________________I wholeheartedly agree with the Anthony Robbins reccomendations. Overall though there’s a few things that can be done.
1) Research – Not knowing your market should be cause for genuine fear that shouldn’t be ignored! [
] Sometimes *specific* research can dull *specific* fears nicely. eg fear of paying to much – research comparable sales figures. The problem is when fears are general (ie what if I make a mistake????) which can never be answered. Research also becomes a problem when it is mixed up with *taking action*. Both are necessary. Neither alone is enough.2) Mittigate. As suggested above, if you have a clear idea of the risks and the odds of them happening, and have plans that limit your downside here, then not only is it defined (and thus less prone to being blown up in your imagination) but you also have a clear vision of yourself overcoming any challenges.
3) To quote Anthony Robbins know your outcome and your purpose. ie know what you want and even more importantly WHY you want it.We’re talking the EMOTIONAL reasons here. Be specific. Really think about what all the benefits will feel like when you have them. ie “Because investing will set me free financially letting me spend as much time with my kids as I choose, giving them a role model of a parent who loves what they do. Investing will let me choose what I do with my life allowing me to go surfing right when the waves are beating down perfectly on my favourite beach which is deserted because everyone else is off at work! [
] Taking action will teach me more about who I am and give me the leadership skills to start my own company called XXXX.” etc. etc. For all I know NONE of these may mean squat to you, so write your own list. Use powerful, emotional words. Make as long a list as you can. Think about it, imagine it and feel it as you do it.4) As much as possible, hang around people who are successful in the areas you’re most afraid (eg negotiating, getting finance etc). The more you see and hear success the more likely it becomes (even if you only see/hear/feel it in your imagination). Unfortunately the same is true for failure.
Realise that what you do to overcome this fear is more valuable than anything else you get from investing. In my opinion learning to overcome fear is one of the greatest assets to a life of happiness available. You have already shown a willingness to look for ways to get past fear by posting on this forum. Keep going and you get *all* the rewards. Good luck and go for it!
Quasimodo
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Funny how action has a way of answering all of our fearful questions…
___________________________________________________________________________Seems like a pretty clear case of spending 50 cents to make a dollar to me…[
]Quasimodo
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Funny how action has a way of answering all of our fearful questions…
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] ). I know I’m planning on buying copies of it for myself, my family and any investors I work with in future – and if just your introduction can convince people to do that… then I fugure you must be doing something extremely right!
] ). Two weeks and one marriage (to a most wonderfull Canadian [
]
]. I believe that Shakespeare summed what I’m saying up best: “To Thine Own Good Self Be True”.
