Tag Archives: good

The Importance Of Adding To Your Real Estate Investment Group (Page 1 of 2)

December 23, 2019   Home Mortgage

But teacher, the computer gremlins ate my homework!!!!! Unfortunately, that is what happened to my well crafted article for last week, right before I left to teach classes at the Learning Annex in New York.

The good news is that after being in NYC, I can now give a really strong example about today’s topic which covers what to do once you have found ( or created) a great real estate investment group. What MOST people do from human is exactly opposite of what it takes to be a part of a real estate investment group that yields outstanding investments time after time.

It is human nature to believe that if you have something good, you don’t share it with others for fear of not having enough to go around. Psychologists call this a “SCARCITY” model were people believe that there is only a finite supply of anything worthwhile. Coming from a very conservative background, where I grew up the son of a college professor, I was cursed with this scarcity belief.

As I started to gain more and more success, the more I realized that many successful people believed exactly the opposite of me: that is, they believed that by working together and sharing, you could produce an INFINITE supply of whatever was wanted. This is what experts refer to as an ABUNDANCE model.

So how does that apply to us? Let me give you the example from the Learning Annex. During our last night, we had a person in attendance that has been with our group for some time and has participated in multiple projects. This person is a full time real estate investor, is very savvy in her choices, and it’s a big believer in the power of real estate investment groups.

Afterwards, we got talking about how she might be interested in purchasing multiple units in our N. Tampa project and probably would also know others that were interested. To her credit, she did not want to “hog” too many units for either herself or others outside of the GetPreconstructionDeals.com real estate investment group.

In my opinion, this person could SUBSTANTIALLY INCREASE the ability of others in our real estate investment group by telling others now. Yes, we may run out on “this project” but now let’s look complete the chain of events:

1. Some people cannot get into the project because it is sold out;

2. Because it is sold out, several developers take notice and want to offer special incentives to the real estate investment group;

3. Another good project is offered and because of more people are around, a substantial number of properties are consumed, some of them by people who could not get in last time.

4. In turn, this continued activity attracts even better opportunities by developers

5. Because the opportunities are continuing to flow, more and more people are attracted to the real estate investment group;

6. The process simply continues providing an ABUNDANCE of opportunities for all.

Now, suppose you do the opposite and individuals decide that it is a bad idea to grow the real estate investment group. Now what happens?

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How your credit rating affects your quality of life

December 8, 2019   Auto Loans

Many people never bother to keep an eye on their credit rating; some never check theirs at all. It’s easy to underestimate the value of a credit rating, but in truth; unless you belong in the high-income club and can afford to buy everything with cash, your credit rating dictates the quality of life you live, the following are some of the known ways:

Bargaining power, borrowing: Have you ever done your shopping in a market place? Notice how several traders were vying for your attention, each trying to convince you that theirs is value for money, best quality etc? Well, in such an instance, you are in a position of power; they have the same product and you have the simple task of choosing between them. If you exercise your power, often you’d be able to either bring the price down or get more goods than originally quoted.

If you look closely, similar patterns are repeated in almost all aspect of life, when it comes to credit (i.e. loans, credit cards, etc), a credit rating is the preferred currency for just how valuable a customer you’re. If you took the time to count, you might find that there are hundreds of credit card providers out there and they all want more customers.

If you have a good credit rating, like buying goods in a market, you’re in a position of power; credit card providers are willing to outbid each other in an effort to get your business. This is expressed via attractive niceties such as 0% balance transfer, 0% interest on purchases, air miles, reward points and many others.

If you have bad credit however, none of these niceties will be available to you, in fact, most lenders will simply stay away from you. Those that lend to you on bad credit cards will typically charge you double the interest a good credit customer pays.

Special deals and promotions: Lately, shops and supermarkets are also getting in on the act; in an effort to sell you that new fridge or sofa, retailers are willing to give it to you on an ‘Interest free period’ often with nothing to pay upfront. But wait, you can only get this deal if you have a good credit rating; those with bad credit will have to pay the full price upfront.

When it comes to buying cars, although some lenders will accept people with bad credit, it’s on higher interest loans, in the end the person with bad credit pays more for the same car.

Employment: This one is a bit bizarre but some employees find it necessary to check your credit rating before deciding whether to give you the job or not. Perhaps it’s to determine whether you’ll steal company funds or perhaps it’s to determine whether you’ll demand a pay rise due to your financial iniquities!

As you can see life costs a little more if you happen to have a bad credit rating whereas if you have a good one, you might even benefit from all the gimmicks lenders use to lure new customers. With that in mind, work on your credit rating, if you already have a good one, use it to your advantage!

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