Time for some focus and *maybe* some guidance

I've been thinking a lot about my poor time management and how I'm going to overcome this insanely large hurdle on my own. I loved all the comments I received after my previous post, "So Apparently I Suck at Time Management." It would seem I'm not the only one! Yes, we all obviously get the same 24 hours each and every day, and its heartening to know that many of us still have not figured out exactly how to make the most of them.

I realize that first and foremost I must learn to focus better. With so many different things that need my focus, I have been crazily trying to do them all at once, which is only creating chaos and not results. A month of floundering is enough for me to know that things aren't going to simply fall into place on their own, I need to be proactive about setting specific times and days for each focus area. A written schedule (and maybe even a timer) will be my next order of business.

The second idea that has been rolling around in my head is the possibility of finding a mentor. It makes my insides recoil to even contemplate it, but the thought is there nonetheless. So far I've gotten in the game with no mentor, very little advice, and only a few books and home-study CD's. I'm the type who learns just a little, then hits the streets and gets to the fun action part of the game. I am a fiercely independent person and can not stand to be told what to do, how to do it, or to answer to anyone else. Gee, I wonder why I often didn't get along with my previous bosses! I also really like to pave my own way, learning from my mistakes and not buying into anyone else's "proven system for success." My success will be my way, not simply a copy of some other more successful person's.

But, with the clock working against me and so many other things pushing me back, I'm starting to think that having a little guidance and a little pushing from an outside source would be a big benefit to help get my priorities straight faster. I did manage to start my real estate investment business on my own and got my feet good and wet with all the mistakes and challenges that go along with that. Now that I'm in the water though, I think I'm realizing that wading into the shallow end and really swimming through the deep water are two very different concepts, and that I'll learn to swim much faster if I have a swim instructor standing along side of me.

So now comes the question of WHO I will choose to be my swim instructor. The choices are nearly endless, especially when I have several different interests within the field of real estate. Then there's the question of going with a well-known name or a local "Joe" who is doing well. I do have a short list of about 4 or 5 individuals, but which one at the top of the list varies depending on the day/week/latest webinar I've logged into. I'm very pleased to have connected with most of them through various social media, especially Facebook. I think that seeing the interactions of these people in their everyday lives and businesses helps show their true character and lets me know if they are someone I can A) get along with and B) respect and actually want to listen to.

I leave tomorrow morning for another long postponed trip to see more family this week. Next week (after my return) starts the new daily FOCUS plan and further decision making of engaging a mentor. Gonna be giving myself some tough love and really working to get my top three priorities some individualized attention. Call it my mid-year resolution!

An Affiliate Program Fence-Rider

I can't decide how I feel about affiliate-type programs. They seem to be the current fad in all real estate type marketing right now, and some of it is really making me angry. One guy's "Make Millions" system in particular has been offered to me via email, Facebook, and Twitter so many times by so many DIFFERENT people that I've about had it with all of them and am close to disconnecting myself from ever last one of them. Anyone want to wager a guess about whether or not I'll buy this training system?

Its like a pseudo-direct marketing/MLM system, which I've never been fond of personally anyway. Not to say that they aren't valid products or methods of selling, Warren Buffet has one and even Trump is getting in the game. Its just the SHOVE IT IN YOUR FACE attitude with no regard for the relationship (or often product) that I can't stand. I myself recently joined a direct sales company for the first time, more for the product than the opportunity to make money, but I can't and may never bring myself to hawk it to every last person I meet. Talk about a big turn-off for your friends, huh? I do believe in the product though, and will talk about it if someone first expresses a need or interest in it.

But back to the fad of affiliate programs in real estate investing. I can see how it is a tremendous opportunity for some people to "cash in" on someone else's product and make some extra money. And most of us do need extra money. And of course, the someone else that created the product essentially gets free advertising, paying only a small fee to the hawker after a sale is closed. Genius. Really, a great system in theory.

What happens in reality though is that everyone in investor clubs and on the internet is out there shouting about everyone else's programs, systems and software. It turns into meaningless noise that leads to confusion about the motives of the hawker and makes many of us sick. Even some of the Facebook groups I'm a part of and joined for sincere networking and information sharing are apparently nothing more than a group founded by someone that wanted to bombard more people with their affiliate links. Gee, thanks for the group, I joined because I needed more stuff to delete from my inbox.

Maybe I'm just old-school. I still appreciate the idea that companies who want to make money need to invest money first in their product, employees and advertising. Isn't the saying that you have to spend money to make money? These affiliate programs may be the wave of the future, but to me they seem like a shallow attempt to get around that rule and make some quick cash. I very well may be wrong, but I don't think this fad will last. I also seem to remember that during the DotCom bubble many new businesses on the internet thought they were geniuses for getting around that same rule, and we all know exactly where 99% of them are now.

On the other hand, I know the value of first hand recommendations too. In fact, I recently found out that one of my successful real estate investor acquaintances learned from a particular system that I then looked up online. I've known this person for a time now and he'd never mentioned it before. Guess what, the system has an affiliate program. He didn't feel the need to SELL me on it, but his passing mention was enough for me to consider the program seriously. THAT's the power of an affiliate program in my eyes. When someone who uses the program and actually does recommend it to a few friends out of the sincere desire to help those friends, then it is great for the company to say "thank you for your belief in us and for trusting us with your friendships" with a small referral fee. I will gladly listen to my personal friends and value their advice much more than some stranger that sends me a Facebook message or mass email 3x a day about their "INCREDIBLE OPPORTUNITY."

So are affiliate programs good or bad for this business? Are they the future of advertising or is it just a fad to make a quick buck? I'm no expert marketer, and prefer to sit on the fence for a while, judging how the wind is going to blow on this particularly fast growing phenomenon and whether there will be any integrity left in selling if it blows one way. What do you think?

So apparently I suck at time management.

Man, when I had a J-O-B I thought to myself, "all I need is to get rid of this horrible time-wasting job and I'll have all the time I need to finally get things done!"

Nearly one month after fulfilling that dream, I still have no time. There's just never enough. I seriously don't know how I gained 9 more hours in my day and yet still accomplish so little!

I started out with a plan. Really, I did. Sounded like a good plan on paper. I would spend my early mornings doing emails, then get out of the house to either run errands, take the kids someplace fun, visit properties or drive around neighborhoods looking for possible property leads. I would alternate the activities on different days. Then we'd come home, get the kids some lunch, put the little one down for a nap, and I'd start make phone calls and send more emails for the rest of the afternoon. Seemed perfect, but in reality it is just too much to cram into one day, every day.

My online stuff takes much longer than I time-budgeted for. Between multiple email accounts, social networking, blogging, reading articles, doing internet searches, etc I can easily fill up the entire day just sitting in front of my computer. Which is NOT what I envisioned me doing when I left my cubicle where I just sat in front of the computer.

On my list of things that aren't getting done: go to the bank and deposit some checks, call back some potential tenants for one of my properties, do searches for specific property types in the area to send letters to, go to the store to buy an ink cartridge so I can print some forms and return them to a Realtor that's asking for them, figure out a better system of organizing my leads, take the kids to the Library to get library cards and books, and many others I'm sure.

I need a new plan. I'm thinking about trying to designate certain days for specific activities, but having two kids at home makes that a bit more difficult since I am often limited to scheduling things around meals, naps, play time and the incessant need to break up the "Whaaaa!!! He stole My toy and pulled my shirt!!!" fights.

I used to consider myself a great multi-tasker. Give me a pile of work and I'll tackle it all at the same time. Now with undefined work and undefined times of doing it, I have turned into a disorganized mess. My husband even rightly teases me for not being able to do a simple load of laundry while I work from home. I mean to, I just get distracted and time slips away then before you know it he's coming home and the laundry never made it to the basket! (obviously he didn't marry me for my homemaking skills!) Not to mention I never left my computer and very few phone calls were made. Arggggg, how does the time get away?

So, I'm working on a new plan. It may take a while for me to find my right grove, but I'm trying to come up with something workable immediately if not permanently. I know I'll figure it all out eventually, after all, many other people in similar positions have figured it out and area doing well. I just get frustrated when the goals I set for myself need to be readjusted so drastically. But, if the system isn't working then its time to get a new one. There's no way I want to be still floundering at this time-management thing in another month. I'm up for any ideas and suggestions if you all have them!

Reality Check: When visiting run-down houses, we may be visiting our future.

I just got back from what seemed like a very long trip to visit my extended family in Syracuse, NY. My grandfather, the only person I'll probably ever personally know whose intellect rivaled Einstein, is very ill and not much longer for this Earth. It is sad to see this once vibrant man, who still rode his bike to the local library up until last year, now wasting away in a hospital style bed, unable to get up and sometimes unaware of where he is. He has lived a long and prosperous 93 years, though, and you can't ask for much more than that in this life.

While we were in Syracuse we stayed at my grandparent's house. Camped there is probably the more appropriate term. My grandfather is now located at my Aunt's house 30 minutes away (she is caring for him in his final days/months/years), and my grandmother is not able to stay in the house alone, so she has permanently moved into an apartment that is handicapped accessible for her limited mobility.

I was completely amazed at the house that greeted me when we arrived. I have been in some real junker houses in my line of business, and some of them have even been occupied at the time, and I'm always amazed by the conditions these human beings can allow themselves to live in. I do my best not to judge others, but I can't help but wonder sometimes if they are aware of their deplorable surroundings. Maybe my grandparent's house wasn't quite as bad as a few inhabited ones that I've seen, but it would probably make the short list.

My grandfather is a very proud man, one who can not even entertain the idea of others doing something to help him. He built this house entirely with his own two hands (he was an engineer and thought it was a fun project) and probably would shudder to think of anyone else touching what he worked so hard to build. Family members have offered time and again to help take care of him and the house, but he'd have none of that talk, we might "mess something up." And though he is not poor by any determination, he was too proud to pay someone, even a skilled tradesman, to work on HIS house. As such the maintenance on the house has been nil for nearly 10 years, and the house is no longer fit for any long term inhabitants other than the mice that already reside there. A house that once showed incredible pride of craftsmanship is now the eyesore of the neighborhood.

Staying there certainly gave me a new perspective on the run down houses I'm sure to look at in the future. I would never have thought that a member of my own family would be living in any sort of comparable home to some that I've seen, but the reality is they were all along. It is entirely possible that many of us will end up in similar situations at some time in our lives. We can not predict the future nor what our attitudes or reasoning are. If my grandfather had been shown a picture of his future house 50 years ago when he started building it, then perhaps he would have had a different mind on keeping it maintained over the years. Or maybe the same thing would have happened since it is difficult to change human nature.

All in all, I've come away from this trip with a new insight to how some of these properties come to end up in investor's possession. Most people don't plan for the inability to maintain your surroundings, terminal illness or other hard times and seemingly hard choices that may come upon us, so remember with me that the people in these junker houses we go out to buy may one day be someone we love, or even ourselves.

Private Investors: Show me the money and I'll show you a sound investment.

I have to admit, when it comes to real estate investing I am consistently putting the cart before the horse. I will chase leads, talk to sellers, and look at properties all day long, but when it comes to talking to people about private lending and finding the money to do the deals, I never seem to get around to it at the right times.

Talking to people about money is just plain boring to me, while looking at houses is super exciting. I can't tell you how many deals I've lost simply because I didn't have anyone showing me the money BEFORE I found the great deal. In all the excitement I'd leave the funding until last, thinking the awesomeness of the deal would make funding a breeze, only to have time run out and/or someone else swoop in and snatch it up while I was out looking for a lender. This is one reason why I originally started out with a business partner. He was a "numbers" person that loved talking to others about money, and it was deemed one of his responsibilities to get out there and find the money while I found the deals. Sounded perfect, but unfortunately it was a part of the bargain that he didn't hold up and we've since parted ways. Trust me, I'm ready to learn my lesson once and for all that the money needs to come first and that I have to be the one to find it.

I read an article in my local paper today about private investors who thought they were funding deals for a real estate company and getting great returns, just as it should be. ( http://bit.ly/YPkML ) Turns out the real estate company was not rehabbing the houses or even holding the notes for under 80% of the house's appraised value as they were told, so the private investors were left holding notes on dilapidated old boarded up houses that were so over leveraged, often by multiple notes, that there was no hope of ever recovering the investment. And these so-called real estate investors owe their lenders over $25 million.

I already dislike the "show me the money" part of this business, but it is one I whole-heartedly believe in because I know how safe and secure investing in real estate the RIGHT way can be. I am sickened by these poor investors who have now lost their life savings, retirement money, or family nest egg due to one incredibly unscrupulous individual. and he probably loved talking about money and was very good at it from the amount he was able to receive. On the other hand, I can not believe these investors essentially handed over their money and just assumed everything was as they were told it was. Would these same people give a large lump of money to their stock broker and just trust that he knew what he was doing and was making them money, never reading a market report or checking in with the broker, even with the stock market falling as we speak? Perhaps they would, but perhaps they are also part of the problem the country is currently in.

So now, as I resolve to go and secure more funding before I miss out on another great deal, I must hit the streets with this incredibly derogatory article overshadowing my good intentions. Will potential lenders have read this article and now completely shy away from securing their investments in real estate? Will they think we are all scammers just taking their money to buy ourselves big boats and fancy cars while the alleged investment crumbles on its lot? I pray that is not the case and that logic and reason allow people to see that this is an extreme case of abusing the system.

So how can I assure you, Mr. or Ms. potential private lender, that I am not such a despicable person?

Well, for starters I am a member of all the larger real estate groups and associations in our city, and in fact I'm president of one of them ( http://www.richmondring.com ). I have a lot riding on my reputation in real estate and would not do anything that would jeapordize my position or lower my ethical standards. Ask anyone in our groups, I'm a stand-up kind of gal. Next, I want you to be comfortable with the property in question. I'll meet you there any time you like to see what your money is buying and if invested, how the progress is going. You should never invest in a stock and then not bother to check up on it and the market, why in the world would an investment in a house be any different? I will show you the inspection report (if obtained), contractor's written estimates, get an after repair appraisal, and close with an attorney or title company that will record the mortgage note with the deed of trust for you. There are many other ways to help you keep your investment safe and secure AND profitable, these are just a few to start. I want you protected and happy so that we can have a long and profitable relationship!

Oddly, I'm now even more determined to show people the great benefits of investing their money in real estate. perhaps this article will give me the boost I needed to get out there and talk more about it with more people. Perhaps I'll go so far as to call it a personal quest to prove to Richmond that real estate investments are an excellent choice to earn very profitable returns on your money. I don't expect to raise $25 million to counteract the damage done by this one disgusting investor, but every little bit counts toward righting some of the wrong that's been done to many private investors in this town.

Lets whine about how life gets in the way...

As part of our evolution at Local Real Estate Deals Magazine, we will soon have a columnist (and good friend of mine!) writing about the perspective of women real estate investors. Lets face it, men in this industry far outnumber the women, so there are certainly some differences and stories behind those of us in that minority!

Being a member of this minority and talking to my friend about the column got me to thinking about my own experiences as a woman real estate investor. After some careful thought, I don't believe there is a true disadvantage to being a woman in this industry per se, I've had no more difficulties or challenges than many men I know have had. A different perspective, for sure, maybe a little more weeping when things go wrong (not me, but maybe some of you others, right?), but nothing is inherently harder from my experience. Perhaps, even, there are some actual advantages to having some feminine wiles in an industry of men. You know what I mean, Mr. Officer who let me out of that ticket [bats eyelashes coyly]???

Instead of my gender being an obstacle in my business plan, I realized I have a much different "problem" that I work every day to over come. Its the particular stage of my LIFE that poses the biggest challenge to me. True, everybody probably thinks "if only such-and-such in my life were different, things would be much easier!" But I stand by my own claim as being fully legit, darn it!

Let me start by saying I don't regret starting down this path when I did, and I am a firm believer that its never the WRONG time to take control of your financial future. If you haven't started because you're waiting for the right time, STOP WAITING!!!

However, I can't help but think sometimes that if I had started 7 years ago I would have no children, less debt, and a much more carefree way of life as compared to my current situation. I would not have a problem loosing my house or eating ramen every night if something went terribly wrong, after all, it was just me and my husband, we'd manage and get through it just fine. Now, with the kids and nice house and standard of living to maintain, I do get scared of messing something up and ruining my family's lifestyle.

On the other hand, if I could pretend for a while that I'd never been exposed to the idea of financial freedom or alternative means of retirement planning, then I would be able to start down this path 7 years in the future, when my children are older and less needy, and my family is more financially stable.

Being at this very spot in my financial life, with the piled up debt of student loans from our youth, bad credit card decisions of the carefree days after college, expenses of the early children years (daycare, diapers, new clothes for every season) and the nice house and decent cars of the middle aged lifestyle we are entering into makes for some rather high hurdles to lift myself over.

Similarly, with my children still being quite young, they require a lot of my time and attention at this early stage in their lives. Kindergarten has been especially rough on my oldest this year, and I feel that I have not been there enough for him during this turbulent time. I've noticed especially that most of the women that ARE in real estate investing do not have young children, and I believe there is a good reason for that. Even in this new age of parenting equality, women still usually have a tighter bond with their children than men and desire to be with them more often than not. Starting either before kids or later when they are older and more independent would certainly have made it easier for me to focus on what I am trying to do.

But this isn't just about me whining and lamenting about my life as I know it. My point is that even though things do not seem like they are the most optimal time for me, even though so many things make me sometimes wonder what in the world I am doing, I'm still out there trying to do it!

So what is your "such-and-such" excuse for this not being a good time in your life? What obstacles do you feel like are holding you back? No, don't tell me, I really don't care. It doesn't matter what excuse you use, there will never be a better time than now to get started on the path to your dreams. The past is already gone, and you can't be sure that tomorrow will be any better than today unless you DO something today.

I can't say I don't sometimes let life get in the way. Suze Orman even tells us "People first." But hey, if I can manage to not stray too far off track and keep pushing forward then I fully believe that anyone else can do the same. My progress may be slower than some others, but at least I am pointed in the right direction and know where I'm going.

Whine with me if you need to, but I'll only sympathise with you if you're working on your own path too. Otherwise, you just sound like my kids who whine about everything.



P.S. - If you haven't checked out our new magazine website, click the logo below!

The Quest for the Illusive Multi-Family property

I'm on a quest. Not the dragon-slaying type, but so far equally as mythic and frought with difficulties.



I made it my goal at the beginning of the year to purchase a multifamily property, and I'm not talking duplex. I have bigger things in mind.



Problem is, it is now June and I have realized I have wasted half the year on other things that have not realted to that goal. Properties that won't rent, partnership that needs dissolving, job that took too much of my time for not enough reward, kids that need extra attention, the list goes on. Life happens and while I've been working on keeping that together its hard to remember to focus on some of my goals. You can all relate, right? Time to get my rear in gear!



The reasons for wanting a multifamily are pretty obvious, I think. Higher cashflow with less overall maintenance for starters. Who wouldn't want that? Of course, its not easy to find a lender that will lend a million dollars to someone with no job, less than stellar credit, no downpayment, and very little verifyable income. They don't seem to care that the rents coming in are close to twice the expenses and debt service and the building will far exceed paying for itself. No, you need to have "skin in the game" everyone keeps telling me. Even the seller holding a second or getting a private lender to hold a second doesn't help. Come on, don't you see these numbers people???



Well, that leaves me with the same stand by I usually use for single family properties, buying with creative terms like seller financing, and I must say it takes a lot more work to find those particular properties, hence the fact that I am behind in my goal. So far I've come up empty on a property that I like and that I can get good terms on. I'm determined to find one, I'm sure its out there! But in the mean time I'm still calling and sending emails to any commercial lender that I come across that advertises themselves as a non-traditional lender. I've contacted a lot. No luck yet, but they are all nice enough to tell me to give them a call back as soon as I come up with $200,000 cash to put down and they will gladly work with me. Gee, thanks for the help.



I know I'm asking for the moon, but it takes only a few minutes of my time to ask for it and maybe, someday, some brave knight out there will help this fair maiden to lasso the moon AND help me slay this dragon of a goal in one fell swoop. Hey, a girl can dream, right?

Do we all really need our 15 minutes?

I'm sometimes perplexed with the way the entire real estate investing industry works. The more I network, both in person and online, the more it seems that everyone is out to sell you something and/or get their 15 minutes of fame out of real estate. Don't get me wrong, I love making money just as much as the next person, but I just can't identify with this phenomenon.



Anyone who has a few deals under their belt is suddenly planning a "training package" or offering to be a mentor (for a hefty fee) or is writing a book. There are plenty of people out there that have incredible experience and offer some really excellent services (Dave Lindahl, for instance, is the real deal with a great program: http://www.rementor.com/). The thing that gets me is that so many investors are now flooding the "market" with training systems and home study courses galore. They see the "Gurus" making tons of money and want a piece of the action, its only natural, right?


My problem with it is two fold: First, I don't see that many of these people understand that in order to make it big in any venture, you need to give before you can get. Second, they are not setting themselves apart from the crowd or finding a good niche to carve out to really make the product shine.



Giving before you get is something I've always believed in passionately. Some of the most successful people you'll meet probably started out asking people "What can I do for you" rather than asking what can I GET out of you. Its one reason why I'm working with Local Real Estate Deals Media, we are looking to help other businesses in their goals first and foremost, and we know that in approaching our business that way we will see exponential returns in the future. We're already seeing that return coming back to us with incredible speed. Dave Lindahl (to use him again as an example) is offering his boot camp for free to people who sign up for his newsletter (visit http://is.gd/Nbtz), a great deal and an example of how even the big guys still abide by this rule. So no matter if you are working on your own training system, book, or just some good real estate deals, don't forget to ask "What can I do to help YOU?" before you even start thinking about your check. Chances are the check will be much bigger and more satisfying when it comes your way.



The second thing that gets to me with all these "Nuru" wannabes (and I know some that will make it because they believe in the things I'm talking about here) is the fact that few are offering something special. I'm sure many of you can relate to having your email boxes full every morning with promotional offers for everything from webinars to boot camps. Which ones do you automatically delete? If you're like me its most of them, because its the same old noise over and over. Please people, tell me something interesting about why you are different, what can you offer that I can't get at 10 other websites? And speaking of websites, am I the only one that wants to see some actual content on these sites, not just an exceedingly long plug on how great the system is without any real statement about what the system DOES. I'm sure some marketing person somewhere did research that proves you get more response without telling site visitors what they're getting, but I can't fathom who those people are that sign up for things blindly!



Of course, there's nothing inherently wrong with developing new businesses out of your real estate investing business, I strongly support individuals coming up with multiple streams of income. There are many great tools, seminars, home-study courses, etc out there that are worth every penny. Just for my own selfish benefit and thousands of others like me, consider a few things before you make your leap into these products, though.

Ask these questions:

• Am I doing this to help others or to get my own piece of the proverbial pie?
• What can I offer to help others before they can help me?
• How is my knowledge and/or system different or better than all the others already out there? (if its really not, you should probably refer to question #1 since you might not be in it for the right reason!)

I, for one, do not need and am not looking for my 15 minutes, and I'm also not looking to sell anyone anything just to generate sales. I'm looking to help those that can benefit from my help and in doing so see all of our success grow. If someday I do come across an idea that prompts me to develop another business, you can be sure that it will be done for the right reasons and with the right methods. A good product will always sell itself no matter what's going on in the world. I would much rather be a part of something that other businesses want to be a part of themselves than one in which I have to force-feed the product to everyone I meet. If I had to do the later, no amount of revenue is worth the bad ju-ju I'd be creating in my life and business.