The Real Estate Action monthly meeting was a great time, plus there was tons of awesome information. Here is a brief summary of what you missed:
Marc Jurock gave a great presentation on the importance of following your building’s depreciation report – for strata owners this is of great interest and I will be elaborating on this in the future and giving a similar presentation at this year’s Annual General Meeting.
Lead with the truth:
Conversation guru Eamonn Percy gave an insightful talk about the importance of conversations within a real estate business. There are 10 things to remember when engaging in a critial conversation, and you can read them here.
Work on smiling:
A German study from the 1980s found that people who forced a smile actually became happier. Try it yourself: hold a pencil in your lips(it forces you to frown), then hold the pencil in your teeth(forces you to smile). Besides lifting your mood, it will make others more receptive to you and this will in turn lift your mood even further. A useful lesson because people only want to do business with people they like and respect, so smiling goes a long way(even the fake kind).
The deflation myth:
Ozzie Jurock spoke about how the media has over the years been featuring pundits who speak at length about deflation. He showed slides of books and headlines released for the past 50 years talking about another great depression, and how time and again these pundits have been wrong, there has been the opposite inflation(good for real estate).
I wholeheartedly agree. Check out this recent release from Stats Canada.
As you can see, the Consumer Price Index has increased on average 3.197 per year for 100 years. So if a basket of goods cost $1000 in 1914, today it would cost 319.7% more, or $4,197. This “basket of goods” gets changed all the time, so this is not the most accurate measure of inflation, real inflation is much higher For instance, “a loaf of bread that cost 6 cents in 1914 now goes for $2.92” (Source), a 4866% increase and much higher than the CPI of 319.7% we would be led to believe.
In any event, whether you believe CPI to be accurate or not, inflation is the obvious trend over the past 100 years and will continue for the next 100 years.
18 ways to get more done:
Ralph Case made a presentation of 18 ways to get more done and here they are:
1. Have goals written down
2. Get enough sleep
3. Get fit
4. make steps toward a deadline
5. use a prioritized checklist
6. say no – A LOT – if you over commit you will not succeed
7. close social media
8. forget multitasking
9. 20% of tasks get 80% of results so focus on those
10. use time blocks
11. use a timer
12. create routine
13. change your environment – leave your office/home and try working in a coffee shop
14. work out at mid day
15. capture fleeting thought – carry a notepad to ensure you don’t miss any stokes of genious
16. if struggling, take a break
17. handle all paper and email ONCE
18. eat healthy snacks
All very good tips, and tip #2 is why my newsletter will be out late this week, I am focusing on getting enough sleep!
I got a good response to my presentation. I was practicing for the Landrush conference on February 28th where I will have a booth featuring Kamloops as a top investment town. You can preview my practice here:
And that was it! A great monthly meeting, I came away with some action steps – specifically to print and distribute fliers in my target neighborhood to find more properties – learned some great things I can’t wait to implement into my life and business, and good prep work to find more investment partners.
Until next time,