The Importance of Being a Genuine Person In Real Estate

Real Estate investing is a numbers game. For anyone that has ever thought about purchasing just one property, all it takes is a few quick calculations and you’ll begin to see the dollar signs $$$.

It’s pretty simple math too. I don’t know anyone that doesn’t enjoy cashing checks each month and really feeling their investments pay off. Just like with any investment vehicle, you need to weigh the risk and the more money you invest the higher the potential return!

People ask me all the time “How do you find such great deals? I also want to buy similar properties.” For this I ask “What are you looking to achieve and what is your end goal?” I mean, if all you want is a check each month there are many other investment opportunities that can provide just that. So many see Real Estate investing as an easy alternative to other financial products, for anyone who thinks this, I give a word of caution.

Warning!

Yes, it is simple math. Yes, you can make a lot of money.

Yes, it is the best thing I have ever done in my life and so rewarding AND I have made a lot of money. I emphatically ask: Do you like people? Not just people, but strangers? Are you committed to developing long term relationships? Do you enjoy being fully responsible (well mostly) for the conditions in which another family will be living? Would you get yourself out of bed at 2am to go fix someone else’s broken toilet only to find that they caused the problem and not even get a “Thank you”?

I have met so many investors that got into Real Estate only looking at the numbers and completely ignoring the people factor. Folks, people are responsible for making those numbers work. They pay each month so we can feel good about cashing the checks. Many of the great deals I find come from those same investors that didn’t think about building relationships with their tenants and where only focused on the figures. They couldn’t stand the interpersonal aspect side of the business. They provided little communication and where unresponsive to maintenance issues because they just didn’t care about the tenants, only the “return.”

When you have a property and accept a tenant you are assisting those individuals to provide for their basic need; shelter. Now don’t get me wrong, this IS a business and if they stop paying, you need to be firm and find the best solution for all parties. You’ll need to check your emotions at the door for some of the similar heart wrenching personal issues I have dealt with over the years, but even at those times you can only do so much.

In Conclusion

I have learned that the majority of people respect themselves and are prideful of their residence, even if they don’t own it, they pay up every month as long as you keep your end of the bargain. Part of that agreement is being able to communicate with them, at times help them out, and even sparing a few moments to share a laugh.

In Real Estate, you’re not required to be friends however, you are rewarded if you’re friendly! Above all, YOU MUST LIKE PEOPLE to build a sound and sustainable investment portfolio. A property is just a building, the people pay the rent.

Are you a people person? Do you focus on building trust and relationships?

I’d like to hear your comments below and thanks for reading!

Source: http://www.biggerpockets.com/renewsblog/2014/08/22/importance-genuine-person-real-estate

The Power of Your Network in Real Estate

I was chatting with Chris Winterhalter, a successful apartment building investor and active participant in the Bigger Pockets forums.

He talked about some of the advances he made in his investing career, and many of them were tied to people he met. In fact, he met his current business partner at a real estate investing conference. That partner owned a commercial construction company and wanted to expand into apartment buildings. Chris was a wholesaler/flipper and wanted to get into apartments. A perfect match.

This conversation made me reflect on what networking has accomplished in my career but also made me think about what I could be better.

We Can Accomplish More with Others, Then We Can Accomplish on Our Own!

I had an apartment building under contract, due diligence was completed, the appraisal was completed and we were 14 days away from closing.

Everything looked good. Until I got a call from the loan underwriter who informed me that the local bank I was working with changed their mind about the deal. “The loan committee didn’t like the area the building was in”, was all he said.

Wow, really ?!? Two weeks before closing?

Fortunately I had been working with 4 other lenders, got them to present me with term sheets, and picked the best one. The second best one looked pretty good at this point! Sure enough, that bank jumped on it, we transferred the appraisal and they closed on it in 23 days.

I would have been stuck had I not been networking with other brokers.

The Power of Your Network

While I get the majority of deal flow from commercial real estate brokers, occasionally I get one from someone in my network.

One time I got a smaller building through a wholesaler from whom I had previously bought houses to flip. He knew another wholesaler who had this build under contract and was looking to sell the contract. The deal didn’t work out, but it looked promising for a while.

I do better when I have mentors. They give me confidence I didn’t have before. They might say “buying a 100 unit isn’t so bad. So you need to raise $1M, so what? It’s not that hard, I know you can do it!” Even if they don’t directly help, they’re confidence in me lets me expand my own comfort zone so that I, too, start believing I can do it.

I can Improve with My Networking

My friend Jonathan is my model in what it means to be a good networker: he’s constantly introducing people to each other.

He spends time with people, he calls them regularly. He asks you what you’re looking for and then keeps his eyes for something that could help you. He doesn’t ask “what’s in it for me?” but “what can I do to help you?”

I’m outgoing enough, but I’m not intentional enough with networking. I need to be more like Jonathan and find ways I can help others in my sphere of influence each and every day.

The lesson here is that we need to be more intentional with our networking. Put it on your list each week. Make that phone call, schedule that lunch, follow up with conversations, attend that investment meeting. Then figure out how you can help people achieve what they’re striving for.

What do you do to network with others? What can you do better?

Be sure to leave your comments below!

Source:  http://www.biggerpockets.com/renewsblog/2014/08/11/power-network-real-estate

10 Characteristics Of High-Performing Teams

According to Ron Ricci and Carl Wiese, authors of the book, The Collaboration Imperative, high-performing teams have the following characteristics:

1. People have solid and deep trust in each other and in the team's purpose--they feel free to express feelings and ideas.
2. Everybody is working toward the same goals.
3. Team members are clear on how to work together and how to accomplish tasks.
4. Everyone understands both team and individual performance goals and knows what is expected.
5. Team members actively diffuse tension and friction in a relaxed and informal atmosphere.
6. The team engages in extensive discussion, and everyone gets a chance to contribute--even the introverts.
7. Disagreement is viewed as a good thing and conflicts are managed.  Criticism is constructive and is oriented toward problem solving and removing obstacles.
8. The team makes decisions when there is natural agreement--in the cases where agreement is elusive, a decision is made by the team lead or executive sponsor, after which little second-guessing occurs.
9. Each team member carries his or her own weight and respects the team processes and other members.
10. The leadership of the team shirts from time to time, as appropriate, to drive results.  No individual members are more important than the team.

Source: http://ericjacobsononmanagement.blogspot.co.uk/2014/08/10-characteristics-of-high-performing.html

Become The Leader Worth Following

Examples of leaders are everywhere. Many are powerful, many are popular, but few are worthy of being followed.

The ones that extend themselves to keep promises, act ethically, lead by example, show fairness, act out of humility, show confidence, and demonstrate trust.

They are the people we count on. They are the ones we want to follow without being told.

Here are some ways that these true leaders go about their work and lives. Ask yourself which of these things you’re already doing and which you need to work on:

A leader worth following leads with ethics. True leaders are proof you can do well by doing right. Their ethics are not conveniently molded to fit a particular situation but indelibly etched in their very being, as natural impulses that never go stale or out of style.

A leader worth following leads by example. True leaders don’t expect others to do anything they aren’t willing to do themselves. Their leadership comes from their actions, not simply their words. They hold themselves equally responsible as those they are leading.

A leader worth following leads with fairness. True leaders treat everyone fairly.It’s a necessity.They understand that fairness is the ability to rise above their own prejudices and treat everyone equally.

A leader worth following leads with humility. True leaders know that humility is concerned with what is right, that it leads to strength and not to weakness—that it is the equilibrium of power. It is the highest form of self-respect to lead from the stance of humility.

A leader worth following leads brings out the best in others. True leaders guide and support others in their success, ensuring that everyone is performing at their best, doing the work they are meant to do, and doing it with excellence.

A leader worthy of following kindles within others a desire to excel simply by believing in them—bringing out the best in them and building their confidence in return.

A leader worth following leads with trust. True leaders are competent and reliable and consistent, and in return they get people who are loyal and show them great respect. They lead with trust, not power or control.

A leader worth following leads with confidence. True leaders have great confidence and courage. They look fear in the face and defy it, they know that wherever their heart is, there lies their confidence.

Most of all, a leader worth following embraces the concept that leadership is, above all, a privilege and recognizes that the things they think, say, and do have a significant impact on those around them.

Lead From Within: Leadership is a privilege, and making yourself worthy of being followed comes with great responsibility. It means you can inspire others to dream more, learn more, do more, be more. Being the leader matters most if the position is taken seriously and is used to make a difference.

Source: http://www.lollydaskal.com/leadership/become-leader-worth-following

7 Things You Can Do Right Now To Be a Better Leader

You know it when they walk into the room.  There’s a gravitational pull towards them.   Call it charisma, call it gravitas, call it whatever you want, but they have it.

It’s the look and sound of an effective leader.

How do they do it?

The secret lies beyond just the words and actions, to the more subtle messages that leaders send every day through their actions (or inactions) with their teammates.

These subtleties are critical, but yet they can be incorporated into your leadership practice almost immediately.

Here’s a list you can start working on right now to be a better leader:

1. Eye Contact - Nothing says “I’m paying attention to YOU” better than actually looking someone in the eye.   Constantly looking somewhere else sends a dangerous message of disinterest.
2. Good Posture – Slumped shoulders and rounded backs are never good ways to project authority and control  (hint: practice this in front of a mirror and you’ll see what I mean).   In fact, in a very popular TED talk, social psychologist Amy Cuddy makes the case that standing in a posture of confidence, even when we don’t feel confident, has great impact on our chances for success – and there’s science behind it to boot.
3. Volume & Timbre –  Really pay attention to the timbre of your voice. Is it too loud? Too soft? Too monotone? Always strive to match the ebbs and flows of your words with the proper inflections, so the context is not lost.
4. Word pace – Recall all the great leaders you admire –  I bet there’s not a fast talker in the bunch.  Talk too fast, and the message gets buried. But if you go too slow, you’ll lose the audience. Think of the metronome you used when you took piano lessons, and work on a steady rhythm. Tick, tock. Tick, tock….
5. Facial Expressions – Make sure you are not sabotaging your message by over-emphasis (check the eyebrows in particular), or by wearing a half-smile or smirk that reeks of condescension. The face can’t be a blank canvas either, so modulate to a quiet intensity that clearly shows confidence and passion for the topic.
6. Pause Filters – Focus not so much on the words, but on the spaces between the words. Make sure you link sentences together crisply, without the use of too many “Ahhs, Ummms, or “You knows“. These “pause fillers” can give the impression that you are rambling on and on.
7. Smiles – You know the saying “a picture says a thousand words“? If a leader is trying to project positivity, humility, graciousness, optimism, openness, and a general good nature, smiling whenever possible is a great place to start.

Ready?

Go get it, and lead well!

Source: http://www.terrystarbucker.com/2014/07/13/7-things-can-right-now-be-a-better-leader/

You Can’t Be Successful Without These Internet Marketing Tips

Cruising around the web, you’re going to find a lot of information on internet marketing in general. Some of it is good, and some of it is not so good. You should always be wary of what you’re reading, and in this article we’re going to explain some of the real points of internet marketing that you should be aware of, without the mumbo jumbo.

Getting involved in online forums and talking up your website can contribute significant benefits to an internet marketing plan. Do not be pushy or single-minded when you do this; contribute to forums that relate to your website’s focus and your own interests. If you can forge connections with potential customers that are interested in what you provide they will more than likely come to your site.

To make more money, you can offer additional products and bonuses. After presenting the qualities of a product, mention its shortcomings and how that can be fixed by an additional product. You should make sure that the original product and the bonuses would interest the same kind of customers.

To learn more techniques, you should pretend to be a customer and see what other sellers and marketers are doing in the niche you are interested in. Subscribe to other email lists, and analyze what attracts you and what makes you not want to buy the product. Adapt these techniques to your product.

Always provide the information and answers that customers are seeking and make it easy to find. Just providing a one page website that gives your hours and address is not going to attract customers. You should include plenty of information on different pages of your site, it should be of great quality and pertain to your niche.

Take a careful look at your competition. Making sure that you have a good knowledge of your competitors is important. Visit their websites. Take a look at the keywords that they are using. Take a look at your own keywords and compare them. Improve upon your keyword usage until you find yourself featuring more prominently in search results.

Brand yourself up. Make a logo, a saying, or even a simple title that will carry into everything you do. When people start to recognize your brand, success is on the way. Market your website just like you would a product: acknowledge the shortfalls, but be sure to praise the uniqueness. If you need help in this area, we recommend iConnect Media, a Mississauga web design company.

If your business is engaged in advertising both online and offline, make sure your marketing strategies in the two spheres complement each other. An internet marketing plan should work with and enhance your other efforts in print or other media. Make sure your website points visitors towards your adverts in other media – and make sure your TV, radio and print ads mention your website.

A fantastic way to increase your site visibility is to create site map pages which outline all the different parts of your site. This makes it easier for your site to be navigated, and will allow search engines to locate all the different sections of your site more easily.

While you do need keywords to get a higher visibility, you need to make sure that you write the content on your site for your consumers first. The search engine bots are not going to buy your products. Only real people are going to buy your products, so you need to write for them.

Once you cut through the hyperbole and the useless content out there, you will find that real information on marketing doesn’t make bold promises or mislead you in any way. Like the information contained in this article, internet marketing is a serious business venture, and thus you must approach it as such.

Source: http://www.womenentrepreneurshq.com/you-cant-be-successful-without-these-internet-marketing-tips

Digital Relationship Building

Digital relationship building drip campaigns, email blast, social media, CRM, texting is here to stay, we crave for it and cherish it. Everyday we have a small business owner reaching out to learn how to set-up, manage or improve their social media platforms. The thing is to get the most out of your digital networks you must turn that online relationship into a real world relationship (RWR). It’s unfortunate but most business owners find it to hard to put in the effort to transform the connection online into one that exist offline. They usually respond with not wanting to be to pushy or needy yet they will dedicate hours into interacting with valued customers in the digital world without truly getting to know them in a way they could if they made a phone call, held a party and invited all their customer or even gave them notice that they are coming to their town and would love to meet up for a meal or drink. What happened to making a real connection? Is getting someone’s email or preferred social networks the extent of being social and staying connected?

Every day I received at least one Linkedin request but here’s the thing they really don’t want to be linked in to me as a business owner. Why because the only value they saw was to send me the standard staple message Linkedin decided to furnish them. They did not see fit to personalize the message in anyway or manner to connect to me, I was just another email they had acquire for the purpose of digital relationship building for the value of a number to add to their online dragging rights. I’m worth more than a digital placement in your business life, I’m worth your personal attention. After all I’m a trusted advisor to my friends, family, colleagues and customers. I’m fun to be around, I’ll add to the quality to your network and life. I have the ability to supply good tangible referrals if you show me you are genuine in your relationship building with me, I have valuable information that can add to your bottom line. This is not a quid pro quo but real relationship building a I see you do you see me; I hear you, do you hear; I value you, do you value me?

At what point did we decide that a telephone call was intrusive? At what point did we decide we were more productive solely thru digital interaction? Relationship building isn’t digital files, emails or email blast, it’s looking up as Gary Turk video below clearly explains. Relationship building is connecting face-to-face, eye-to-eye, person-to-person and from all of that you will build repeat business, valuable referrals, trusted business partners and amazing opportunities to collaborate. Relationship building is personal communication not a drip campaign. Turn your digital relationship building into connecting with our customers via

• holding a party quarterly or once a year
• inviting them to a networking event you’ll attend
• have free lunch Fridays at your office and invite your customers
• making attempts to catch-up over a meal or drinks, it doesn’t have to be one-on-one invite 3 to 4 customers
• learn who they are outside their jobs, learn why they chose their career

Yes, there is the angle where you ask who’s your best customer and how do you find them. But when a customer see you are not just interested in the money in their pocket but them personally your well crafted drip campaign no matter how good the response rate will not provide the ROI that the personal connection will. Consider it, it’s not in the numbers that you win it’s in the quality in those few numbers that matter the most. The good stuff really happens in real time not digital time as text bloopers craft out.

Source: http://businesspipeline.com/digital-relationship-building

How To Make the Most of Your Networking Experience

Conferences are a great way to network with likeminded people who may be just as multi-passionate as you. Last year I had the pleasure of meeting people I knew online for the first time, getting in touch with people I’d already met, and meeting new people I now consider good friends. But  networking can be difficult and overwhelming, especially if you’re an introvert. So here are some tips for getting the most of your conference or event experience if networking sounds like hard work to you.

1. Choose Your Angle

As well as crafting your elevator pitch, choose which project(s) you want to highlight and share and which message(s) you want to own. You can switch it up according to the interests and personalities of the people you meet, you can stick with being a multipotentialite and telling people what that means to you, or you can choose to “specialize” by telling people what you do and, most importantly, how what you do benefits people (think about your values and your big why).

2. Ground Yourself

Networking events can be overwhelming. Networking is like speed dating in some ways, so you have to learn to ground yourself to keep yourself centered and in the moment. This means not getting too anxious when meeting people and honoring who you are. Take a deep breath. Connect with where you are now, not where you want to be, or where you were in the past.

3. Know Your Social Limits

If you’re an introvert, plan out which meet-ups you want to attend. Remember that you can pick and choose and can go to as many or as few as you want. You get to choose how to participate. There are huge meet-ups and there are smaller ones. Which suit you best? Pace yourself. If you know you get overwhelmed in big crowds, give yourself downtown and take breaks.

4. Know Your People

Once you know what your angle is, you’ll probably know who your people are. Who do you want to connect with? Who are the kinds of people you can help? Which types of people would you genuinely love to be friends with? The point isn’t to meet as many people as possible; it is to meet the right kind of people and then to make meaningful connections with them.

5. Follow up

Following up is an important step which is often forgotten about (guilty!). Follow up with people to let them know you enjoyed meeting them and reiterate who you are and how you help people. Use the business cards you collect as a guide, but there are plenty of other ways to follow up. Create a Twitter list of the people you’ve connected with. Add them on Facebook. Invite them to a free thirty-minute “coffee chat” over Skype (I use SoHelpful to help me do this). A simple hello can go a long way.

Source:  http://puttylike.com/how-to-make-the-most-of-your-networking-experience