Category Archives: Business Lessons

$100 Suit vs $1000 Suit – A lesson in marketing

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As I’ve been growing my business, I’ve come to learn that perception is of the utmost importance.  First impressions are critical, because people are hard wired with “shortcuts” in thinking. These “shortcuts” are important, otherwise we would walk around all day in constant deep thought observing and analyzing the world.

Not very effective, and exhausting!

When I worked as a police officer, showing up to a call in uniform, in a marked police car, I would instantly have a psychological advantage over most people.  Since being little children, there have been authority figures for us, and police officers are an authority figure that we never “grow out of.”

– Side note here. Criminals DO tend to grow out of police(or anyone frankly) having any authority, however this article is not about abnormal psychology because we don’t want to do business with people like that anyway! –

Simply showing up, the “first impression” aka “police presence”, in most instances would diffuse a tense situation, with the uniform doing all the work. The uniform is very powerful, and many times without saying or doing anything, simply listening, would solve a conflict.

I’ve found the same thing with business attire. Although I am the same person in my black shirt and shorts being “Mr Mom” as I am in a smartly fitting suit, people treat me differently!

It’s not fair, but that’s the truth.

As result I’ve taken a real interest that never existed before in topics such as men’s fashion, so I can show up to work with an advantage.  People perceive me as smarter, more authoritative, and wealthier when I am dressed like this:

Screenshot 2016-06-25 at 04.35.56

Than when I am dressed like this:

Screenshot 2016-06-25 at 04.38.09

 

The catalyst for this post was an awesome piece of advertising that jumped off the page at me as I was about to edit a Youtube video.  It fit perfectly into my new interest, and had me subscribing very quickly, then polled me for information to see what precisely I am interested in. No doubt I will be solicited with products by this company, but I will be a willing buyer because I am “in the market” anyway, so I will see these offers as SOLUTIONS, and not just annoying attention grabbers breaking my focus from more important matters.

And that is precisely what marketing and getting new customers is all about. 

To see the sales funnel for yourself, search YouTube for “$100 Suit vs $1000 Suit – Differences Between Cheap & Expensive Suits”. 

Screenshot 2016-06-25 at 04.19.06

 

Until next time,

 

Stay SAFE

Type II Civilization: Here We Come

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My mother in law Mae gave me a great book for Christmas.

I had not heard of Elon Musk before this book, but he is responsible for Paypal, Tesla, Solar City(largest solar panel design/finance/installation company in US), and for cutting the cost of a space launch from $450M to about $90M(5x cheaper). He is 44 years old and his goal is to bring humans to Mars in his lifetime, I think he will do it.

Inspiring guy!

Although, he did get divorced three times, twice from the same woman. That part perhaps I don’t want to emulate but otherwise an amazing guy.  Highly recommend this read if you want to be inspired.

I then read “The Martian”.

Within 30 hours. By staying up to 2 am two night in a row.

It’s that good.

The reason it’s so good(and has received accolades from the scientific community) is that it is so accurate to the science of space travel.  And the coolest part is it was written by a self professed nerd Andy Weir with a blog, published for free, downloaded and read tens of thousands of times before a publisher stepped up.  Then came the movie(not as good).

 

Currently in tech

As I write this I am listening to the “Tech Panel” of the World Outlook Conference 2016. Here are some notes that might interest you.

  • So much happening in tech now.
  • Amazon is doing trials with drones to deliver packages.
  • Running an open pit mine in Australia remotely.
  • Suncore ordered a fleet of self driving trucks – 24/7 productivity.
  • Telsa has a software update for $2500 for their vehicles to make them self driving.
  • Self driving tests are in happening in Ontario(this is huge because the regulatory environment is so far behind tech.)
  • Near field communication.  Like tap credit cards. Applications in everything electronic ie lights without wires to switches.
  • Mini death of web. Rise of Apps. More people on mobile, rare that browser is used. People are rather living in social media more, may hurt Google.
  • Exoskeletons being tested for seniors with mobility issues who can now lift 200lbs. Huge mobility improvements will happen thanks to aging population and demand.
  • Artificial Intelligence.  Still in the horizon but is coming – machines that are conscious.
  • Industrial evolution of medicine. Drugs can be tailored to the individual using genetic analysis. “23andme” to get your genome done for $300.  Learn your ancestry.
  • Investments and business can benefit from technology. Small players can kill big players now.  Newsbeat(sp?) media as an example gets more traffic vs entire Canadian media.  Amazon vs Walmart. Both could have been squashed if the big player was clued in.
  • Hootsuite, 30 people 4 years ago, 1000 people now. Nothing to lose, ability to make bold decisions and follow them through.
  • Always being disrupted from below, it’s the small and nimble company that can overtake the powerhouses.

I think this is great.

 

What this means to Real Estate Investors

I shared these ideas with a colleague and he said “what is that going to do to property values.”

Well, I have no idea what an acre on Mars starts at so it’s tough to predict ;).

What I do know is thanks to the huge and fast changes to technology and communication life is getting better. We already getting good/new books/movies/music thanks to this and “The Martian” is a prime example.  A guy published stuff he loves in a blog, and a short time later kills it at the box office while major Hollywood and Music company recycle old ideas with mixed results.  Proof and inspiration that there is hope for the future.

One person can now change the world. Or with aspirations like Elon Much, the galaxy.  It makes you realize that you do matter!

You have so much to contribute. You owe it to others to contribute your best!

Go out there and kill it,  Buck Rogers here we come.
Until next time,
Stay SAFE

Review of Barry McGuire’s Rapid Cash Program

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I recently had the privilege of taking Barry McGuire’s course on starting a real estate business outside of traditional buy-and-hold.

As you are probably aware, I am a huge proponent of buy-and-hold, my portfolio ATM is buy-and-hold. Starting down this path 7 years ago is what is allowing me to leave a secure job to follow my desire of being a “present parent”(Mr Mom).

Anyway, I used to shun anything not buy-and-hold as risky, ironically following Barry’s advice I had heard in my early years of investing. I knew people were making money in other ways, but I wasn’t ready to explore anything else until Barry started talking about alternative real estate investment deals coming through his law practice. When I saw this course being taught by Barry(who I hold in very high esteem), I knew I had to check it out.

Although I could never reproduce the depth of information from 3 days of instruction in this short blog post, here are some of the gems I learned:

Continue reading →

R2O Profit Bootcamp Review

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I had the privilege of attending as a guest of Dave Debeau’s Canadian Real Estate Profits group to the last R2O Bootcamp right here in Kamloops BC.

If you are framiliar with Rent to own/lease options, this was a great course that covered the basics with a lot of gold nuggets along the way. Here are some of the guest speakers and things they taught that stuck me as very valuable:

Dan Heon

Very knowledgeable mortgage broker. Has a service that keeps tenant buyers accountable for the length of the term. It’s very cheap($1500 1st yr and $500 /yr thereafter) and includes 4 quarterly checks with your tenant buyer with reporting.

Ken Beaton

Leverage: Banks sell mutual funds so they must be good. If you go into your bank with $100,000 and ask for $500,000 of the banks’ mutual funds you will be told no. But go with $100,000 and ask to buy a $500,000 piece of property and they ask you to have a seat. They won’t even leverage thier own product but thy will leverage real estate.”

Dave Dubeau

As a refreshing change, Dave Dubeau spoke about rent to own scams and how we as potential rent to own operators should ensure to follow a proven system so we don’t end up on front page news. If you have good intentions but no plan, things can go sideways quickly. Here are a few of the types of rent to own scams:

“Nice people – dumb deals.” 

– no plan

– no paperwork

– no follow up

– failure, hard feelings, small claims court

– ie Parents by their kids a house, employer buys their employee house, tenant buyer does not live up to expectations, there is no recourse for investor. Relationships damaged.
“Churn and burn”

-typically an unscrupulous landlord

– Intentionally seeking a tenant failure(accepting the first person who has a large enough option payment, that is the only criteria)

– Incomplete paperwork, no credit repair plan

– tenant buyer gets screwed

“Rent to own investors falling victim to turn key deals”

– Rent to own operator/deal maker finds a deal

– Finds rent to own operator finds a “deal”

– Find a tenant buyer

– Wholesales the entire deal to you

– They keep the option fee and leave you to deal with the fallout
– No skin in the game

Some of examples of this might be the Golden Oaks company in Ottawa as per attendee discussion.

 

Barry McGuire

Form C of the Land Titles Act is very useful for registering Option to Purchase, JV agreements, and other things against the title of a property. Very interesting and would have saved me a ton of time trying to figure out how to secure interests in the past.  In Alberta this is called a caveat, Ontario it is called something else. A good idea if you are an RTO buyer to register your option to purchase on title.

 

Hunh…..

It sure is neat to get the perspective of different investors, that is why I encourage everyone I meet to continue their education and attend events even if they do not seem like they are in line with their current strategy.
Myself I will continue with buy-and-hold, but it is nice to have added rent to own to my toolbox.
Until next time,
Stay until next time,

Stay SAFE

Set for Life(?)

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This is for all my friends lucky enough to have an employer with a pension plan, although I am specifically speaking about the RCMP pension plan, this information holds true for most others as well. To my readers without pensions, you’re lucky not to have these “golden handcuffs”(you will be forced out of nessesity to find your path sooner, and done correctly your choices will dwarf any pention!)

You may not have realized it, but when you signed up you entered a world few people know. 
About ten years later you’ve had your ups and downs, your career is off to a good start, and you likely have the rest of your working life planned out. 
You’ve made a difference, changed many lives, did some great work, served your country and community. 
You also have more responsibility. Perhaps you got married(more than once), had kids, started to support your aging parents, picked up some new hobbies, and likely some debt. 
You’ve never worried about finances, after all there is plenty of overtime(one of the benefits of being short staffed), and you’ve got a pention at the end of it all. 
Your set for life!
Maybe. 
Did you know that eventually your pension will be something that rhymes with you(hero)?
That’s right, all your years of labour, your service to the people of this country, and the thousands of lives you touched will eventually be worth(financially) nothing. 
Let me explain. 
Once you hit 20 years service you are locked into the pension, the more you work after this the higher your pension(sort of). 
But when you die(we all do), your pension does 1 of 3 things:

1. Splits in 2 with your spouse(s) getting 50%. Once they die your pension = zero. 

2. Your children get 20% until they are adults then your pension = zero.

3. You have no spouse and/or your dependants are adults so your pension = zero.
You’ve spent most of your working life in service of others, looking out for thier best interests. 
You owe it to yourself, and to those you care about the most to look after thier best interests too!
Here are some possible solutions:

1. Buy and maintain supplemental life insurance. Calculate what you’d dependants will need from you for the next 20 years. You will discover that if you’re not there to give it to them, the life insurance policy through your employer is a pittance. 

2. Practice fiscal responsibility(be a good saver). This is hard for me. I work harder than most so feel I deserve more in my downtime. This costs money. 

3. Invest wisely. 

4. Make the Set for Life(?) choice – only available to those between 10-20 years service. 
Once you are vested in your pension, a little timer starts, and you have 10 years to make a big choice. 
It’s not an easy one. There is lots to consider. It’s a choice many lottery players fantasize about. 
Monthly payments or lump sum?
To make the right choice for you, ask yourself a few of these questions: 

How is my health? 

What is my family history/life expectancy?

Will I get hit by a bus(or insert other disaster) early in retirement? 

How long will I live?

Do I have the disapline to invest a lump sum wisely or will I spend it on booze/cars/travel, and after a few years of living large be left eating cat food under a bridge? 

Do I need capital to start a business?(after all my skills are very desirable/transferable to the private sector and business world). 

Will I work for another employer?

What do my dependants need when I’m gone?

How can I leave as much as possible for them?

How much is the lump sum?

How long would it last me?

Can I make it grow?

What would you do with $125,000 or $300,000 cash(a similar amount also is locked away till you turn 65)?
For many, taking the lump sum at 19.99 years or perhaps earlier makes sense. 
Especially with this decades’ record low interest rates(lower the rate, higher your cash payout)!
If you have any further questions about your pension, are curious about your transfer value, or want to learn more about my financial plan, you can reach me by visiting InvestKamloops.com. 
You can see what I’ve been up to(and why), sign up for regular newsletter tips, or read other interesting articles. 
Until next time,
Stay SAFE 

Financial Advisors work for ….?

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I want to share a recent email I got from a big bank. 


Sxxxxxxxxx Advisor and Bio

Sxxxxxxxx Cxxxxxx
to me 
6 days ago
Hello Samuel,
 As a valued customer, I want to introduce myself as I will now be looking after your day to day financial and investing needs. I would also like to confirm your home phone number is (250) 828-xxxx.
 My name is Sxxxxxxxx Cxxxxxx. My training and education allows me to help you achieve your financial goals by providing valuable insight and relevant advise. I am a graduate of the University of Nxxxxxx Xx, with a Bachelor of Commerce and I also hold the Personal Financial Planner designation. I have worked with Sxxxxxxxxx clients for 15 years.
What I can do for you: 

  • Provide value-added advise, excellent service and relevant financial solutions to help you get ahead financially.
  • Work with you to ensure your financial needs are looked after and your goals stay on track.
  • I would be pleased to meet with you and help you achieve your goals. Please call me today to arrange your personal consultation. Thank you for choosing Sxxxxxxxxx.
    Have an excellent day.
    Kind Regards,
    Sxxxxxxxx Cxxxxxxx, BComm, PFP
    Financial Advisor
    ______________________________________________________________
    Sxxxxxxxxx | Sahali Branch  Notre Dame Drive, Kamloops, British Columbia, Canada, V2C 6T6
     T 1.250.xxx.xxxx EXT xxxx  F 1.250.xxx.xxxx
    sxxxxxxxx.cxxxxxx@sxxxxxxxxx.com
    sxxxxxxxxx.com
    To unsubscribe from receiving further commercial electronic messages from sxxxxxxx in Canada, please click here: https://unsubscribe.sxxxxxxx.com?entid=BNS&buid=SBNKTo unsubscribe from receiving further commercial electronic messages from certain other senders set out in the attached list, please click here: https://www.unsubscribe.gwi.sxxxxxxx.com?page=gwi This email may contain confidential information the use of which by an unintended recipient is unauthorized. This email may also contain important disclosure information for the records of the intended recipient(s). For details please click here: http://www.sxxxxxxx.com/email_disclaimer/email_english.html

    It was a friendly(though unsolicited) invitation to share my hopes and dreams for the future with a stranger, so they can help me achieve them. 

    How nice. 

    I normally don’t spend much time entertaining these things, but I thought that since this email was so politely written I should at least have the courtesy to reply:

    Sam P
    to Sxxxxxxxx
    6 days ago


    Hi Sxxxxxxxx
    Thanks very much for contacting me! 
    I would love the opportunity to meet and chat. Are you are probably aware I have a mortgage at Sxxxxxxxxx. 
    I’ve been buying property since 2009 and currently hold $2.8M in residential real estate with partners($19,636/mo gross rents), and in 30 years will own 40% of that free and clear($1.12M so long as the market doesn’t go down over the next 30 years). My annual rental income at that time should be around $100k/yr if I don’t buy any more property or raise the rents, but I plan on buying as much as possible so hopefully it will be higher. 
    In the meantime I am providing my money partners with a great ROI(equity partners get over 10% annual ROI if counting net cashflow and thier share of mortgage pay down, debt partners are paid between 4-8% for loans on my property). 
    After completing the CSC, I have a rough understanding of the financial markets and know there is over a trillion dollars sitting idle in candian mutual funds(that have some of the highest fees on the world), so I am doing my best to help people get a decent ROI through real estate, so they too can reach their goals. 
    Perhaps you or your clients would be interested, my investments are also RSP elligible(mortgage in a self directed account). 
    In any event I would love to meet. 
    When are you free?
    Sam

    InvestKamloops.com

    It has been a week and I have not received a reply…

    I was really hoping for some helpful advise, or at least to compare bank accounts.  I heard once “don’t take financial advice from someone who earns less” and also from Aesop himself “distrust interested advice“. 

    Perhaps I will receive a reply in time, when I do I will be sure to let you know. 
    Until next time,
    Stay SAFE

    Canada or the US? Expert opinions revealed.

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    20131206-143836.jpg

    When I was at the ACRE weekend in Vancouver November 2013, I talked to several investors who are working in the United States, including the guy who literally wrote the book.

    One of my goals for the weekend was to speak with Richard Dolan and pick his brain. I did not get any one-on-one time with him, but even better I got to speak with his advisor!

    David Franklin is a securities lawyer and a very wise man.

    He said in deciding whether to invest in the United States or in Canada, you need to make things equal.  Take your annual rents, and divided by the purchase price of the house, the full purchase price not the down payment.   I described the recent deal where my annual rent divided by the purchase price equals 3%.

    He proceeded to tell me about houses that can be purchased for $50,000 and rented for $800/mo ($9600/yr) to people on welfare, so your rent is guaranteed. That is very good ROI (19.2%).

    At the time he conceded that it is necessary to be in a cash position because mortgages were difficult to come by. Not a position I was in at the time so I asked what he would do if he were my age.  He said he would sell his Canadian real estate to free up some cash and get at least 1 house in the US because there will be a recovery and “you will do very well.”

    Hindsight is 20/20, because he is right!  My asset would have doubled, plus with our current low CAD dollar I would have made 19% cashflow ROI in US dollars.

    Am I sorry or regretful I didn’t sell and jump ship?

    No.

    Here is why.

    My weakest performing asset in Kamloops, BC, Canada has the mortgage paid down ~$6000 in 2014.  Add cashflow of $347/mo($4164/yr)  and I got 25% ROI(~$10K/$40K).  Add appreciation at 3%( 15% ROI on my down payment thanks to leverage) and I got 40% ROI in 2014!

    Not as great as the 119% I would have received if I had followed Mr. Franklin’s advice, but the point is that I made a very strong return on my merge sum of money in a market I understand, without the added complexities of different tax rules, unknown marketplace, unknown tenant profile, etc…

    In the time it would have taken me to learn about the US market, I am not sure I would have acted in time to make the hypothetical ROI illustrated above.  I certainly would have not had the time to purchase 4 more properties in Kamloops!

    The lesson for real estate investors to learn here is to become an expert in ONE market and ONE asset class and you WILL make money. 

    I have many colleagues who have tried their hands at the “newest” opportunity(training programs have popped up, newspaper articles, word of mouth, etc): US tax leins and tax deeds.  I have heard some success stories, but mostly people losing a bit of money, or perhaps just wasting time that could have been spend better elsewhere.

    It is always tempting to jump onto the next bandwagon, but if you stay the course once you have something working: “It does not matter how slowly you go as long as you do not stop.” ― Confucius.

     

    Until next time,
    Stay SAFE

    Kamloops Mountie Strikes Real Estate Gold

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    I’ve made a submission to be in the newest installment of “51 Success Stories.” As my readers I thought you might be interested in an advance read.

    Enjoy!

     

    On my way home after a long night shift, I realized that working as a beat-cop in a small city was leaving me beat! The adrenaline that had flowed for the first few years on the job was dwindling, and it seemed like more of the same, shift after shift. It’s a front row seat to the part of society where reality is often stranger(and more tragic) than fiction. I looked at the business card of a witness on an impaired driving file. Pete was a retired RCMP Inspector and I was thrilled he accepted my coffee invitation. After his interview and a bit of small talk I learned he was into real estate, and I wanted to know more.

    By this time I had had been a REIN member for about a year. My wife and I had purchased our primary residence and an up/down duplex. We had used up our savings and I made excuses to myself for why other REIN members had great results while I couldn’t get any more property. “I work night shifts and I’m too tired, CMHC just changed mortgage rules, I have no time for real estate investment, who would want to JV with my limited experience.” My mental dialogue was not helpful!

     

    Inspiration Strikes

    The next day Pete talked about his career path, and how his wife had dutifully followed him all over Canada. Thanks to frequent moves he still had a mortgage upon retirement, although an officer’s pension ensured a comfortable income – so he thought. Pete’s health started to fail, and he was faced with the reality that his wife might outlive him by many years. The government pension they had both worked and sacrificed so much for would be cut in half upon his death, leaving his wife barely enough to get by.

    Pete shared how he took matters into his own hands, turning a borrowed $250K into $1M equity that will secure his wife’s income when he was gone. After talking to Pete, who had no prior real estate experience, I was inspired. I want my family to enjoy the fruits of my labour, even when I am gone, and Pete reaffirmed that real estate was the way to do it.

     

    My First Win

    A colleague’s divorce forced the sale of the property right after the 2009 downturn. It sat vacant on the market for a year, and even reducing the price $45k didn’t help. Ouch! We made an agreement and I sprang into action, using REIN training to craft a JV agreement, installed a basement suite, and quickly rented it out as two units. For $7K and without using my mortgage space I became part owner of another property with good cash flow, and the deal gave me the credibility and confidence I needed to attract further JV partners.

     

    Chasing Too Many Rabbits

    Don Campbell has uses a “rabbit” metaphor at many ACRE weekends: the moral is that too many projects means limited success at any of them. My rabbit happened when I ran out of money. Instead of following the REIN system(the next step was to refine money attraction using the JV secrets program), I bought a couple trailers and started hauling junk with hopes of earning more down payment money. After undercutting the competition for a while, 800-got-junk had left Kamloops and I had a monopoly. I was so busy between full time policing, trying to acquire more properties, and hauling junk that I abdicated as much as I could. Incorporating the company, bringing on employees, getting a second truck and bigger trailer, using a call centre, and marketing campaigns accumulated so much overhead that I needed $5000/mo sales just to break even. Soon I found myself with a business I was feeding out of pocket on a regular basis. By the time I shut everything down, I had netted over $20,000 loss and “wasted” three years that should have been focused on real estate. Ironically, my mortgage paydown and cash-flowing properties has helped absorb much of the loss I sustained. I have since implemented the JV systems taught by REIN and have found like minded JV partners who could fund all the real estate I will ever need, as of my 30th birthday in April 2015, I have a share in 14 units.

     

    The Golden Circle: Start With WHY

    People go searching for wealth for lots of reasons. Mine was emotional woundedness, which is also the reason I got into policing. More than just a how-to course, REIN membership helped me to reconcile conflicting motivations: work hard to help those you love, and money is evil. (You can learn the full story on how I got into, then out of my mental mess at www.SamPerren.com.)

    REIN members like Scott and Laurie Lewis from “51 Success Stories” helped me give myself permission to make money. Richard Dolan’s addition to the REIN faculty, and his sharing of his former hangups around money, also helped me break out of my flawed mental conditioning.

    Now my “WHY” is directly supported by real estate: one JV partner is using the profits from our purchase to support kids going to school in Guatemala; I copied Russell Westcott’s example and gifted a share of our property to our nephews, and best of all my wife and I just adopted two beautiful kids(Lavinia is 2.5, Landen is 1.5). Our properties allow us the option to take time away from work without financial stress, knowing our future is secure.

     

    Advice to my younger self.

    1. Measure what you want to improve. Need more time? Measure where you spend it! Need better fitness/faith life/finances? Measure, measure, measure! Start a journal and write down where you lack, then start to measure it.

     

    2. Join REIN! Implement REIN systems at other networking groups, and you will have access to all the money you will ever need. There are a lot of B.S. gurus out there(visit my blog InvestKamloops.com and type “scam” in the search bar to see what I mean). They will take your money and leave you discouraged. REIN membership is a huge bargain, with solid real estate and personal development training, and the best I’ve found in the English speaking world!

     

    Hope you enjoyed the “advance screening” of my chapter submission.   Make a comment below and I will buy you a copy if I’m published!
    Until next time,
    Stay SAFE !

    REIN Meeting Review

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    Brief Update

    It’s been a while since I’ve written, thanks to all of you who reached out curious about what I’ve been up to. My last 6 weeks were like this:

    – back to work full time, juggling childcare till Marcy is off for the summer(my job is still interesting but I don’t miss the nightshifts!). Thank Grammie for providing relief during this busy time!!

    – Turned 30

    – Closed on a townhouse(college fund for the kids)

    – Caught up on training(ran the PARE at 3:02, for a reminder of what that is like click here)

    – accepted offer on a house downtown closes this Canada Day

    – multiple tenant turnover

    – visited family in AB for a week

    Anyway, at the REIN meeting tonight I realized that I was becoming overwhelmed, and thanks to the support of this great community I am back on track. Here are the theames and great content REIN put together:

    Lending 

    The night started with a mortgage update: TD is no longer an investor friendly bank, and interest rates may inch up but will remain at record lows for a long time. 
    Economic Updates

    “What’s behind the curtain” had lots of interesting articles:

    – Overcrowding is becoming more common in many cities as rents are rising. Overcrowding is defined as more than 2 people per bedroom according to the National Occupancy Standards. 

    – BC markets are up yr/yr in all 12 real estate boards, except Northern BC and Kootnay which are down slightly


    Inspiration

    The youngest REIN Member is 13 year old Neville Ram who shared his story this evening about the purchase of his first investment property…saving money collecting bottles and banking his b-day money for a down payment. This inspired and inspiring young man was deserving of the standing ovation his fellow Members gave him after he spoke!!

    Advice 

    There was a breakout session with three areas of focus: stuck/starting, financing, raising money. 

    I opted for the stuck/staring group because I feel like I’m juggling many balls(work, kids, RE, etc…) There were some real gems tonight, many of them I had heard before, but needed to hear again now:

    When stuck, write it down. It frees up your hard drive and stops you from having the same fruitless conversation with yourself over and over. 

    Don’t chase the deal. Be the deal. 

    Focus on the highest/best use of your time.(80/20 rule)

    Bread money VS investment money: don’t confuse them. 

    Get your financial house in order: clean up your messes. 

    This is not a race. 

    The one thing:

    A book about “juggling” and making sure the fragile glass ball(family) is never dropped. Many of the other balls(work) can be dropped and they will simply bounce back. 

    Hire out mundane tasks. 

    Your goals and you move toward one another when you write it down. 

    Be careful how you talk to yourself.  

    In all tons of great advice and insights. 

    Thomas Beyer

    A great talk by Thomas Beyer, a man who started with $100,000 in 1997 to buy 1 condo for $80k. Now his portfolio is worth $100M, 18 years later. I won’t dilute his sage advice here, but strongly urge you to pick up his book 80 Lessons Learned – the path from $80,000 to $80,000,000. 

    It was a great meeting and certainly good to get back to where it all began in 2009, timely advice from those who have been through my current struggles. If you want to succeed at your goals, joining an incubator group like this is a must!
    Until next time,

    Stay SAFE!