Lessons Learned

Today I was reminded of the importance of comparing apples to apples, oranges to oranges. This comes into play when you do comps and also other areas of daily life.

As I mentioned yesterday, one of my tires blew. I had to find a new one since I'm riding on doughnuts and it limits how I drive.

Problem: I don't have the cash to purchase a new tire, but I do have an IOU from a local junk yard where they owe me some money (approx. $28 to be exact)

So I trucked down to the junk yard and searched for a tire among a maze of cars of all makes. I hadn't really stopped to develop a plan on how I was going to find this needle in a haystack. So, I clumsily roamed the junk yard seeking my treasure. Then I had a brain fart, "Seek the exact model, make, and year car that you have, and you will succeed." Wow! This would have saved me about 45 minutes, if I had only thought before I acted. I found an exact make, model, etc. and found the tire I needed. I negotiated the sale from $20 down to $15 dollars and still have some bucks on their IOU.

This relates to other aspects of life as well. Stop, devise a strategy, proceed with caution. The strategy must be flexible and allow for bumps along the way.

Another lesson learned and a reminder that when doing property comps, compare apples to apples. Don't know what this means?

Then, You must sign up for this weeks conference call to learn more. Go to "Volunteers Needed in Several states" and sign up. Represent your state and make it proud!

Lessons Learned – 03/02/2010
Don’t Be Side Tracked By Others
Your on this journey because of your mission in life. Others will try to side track you with their wishes and desires. Don’t let them. Refuse to let them even if it means disowning them. I’m sure they’ll understand later when your successful and famous and they will only wonder why they didn’t do the same.
I was driving to the gym this morning (the manager gave me a one month free trial because I asked for it. Rats. I should have asked for two months) and I was listening to the Steve Harvey morning show. He talked about growing up in Cleveland, Ohio and that long ago how he used to hang out with the fellas on the corner doing whatever. Now that he’s become a radio celebrity, TV host, well recognized actor, he is no longer able to hang with the fellas. He has moved forward with his life and has put blinders on and ignores the negative aspects of his past that would pose negative influences on his current journey.
Point being is not to look in the rear view mirror and dwell on negative factors that are no longer of significance to your future. The past is the past.
Also, do you think that the people you hang out with define the type person you are? Think about it for a moment.
This happens to be the topic in today’s “Brain Farts” journal. Check it out and see how it may determine how successful you become as a real estate investor.

On that note i believe you cannot be successful if you surround yourself with negative people who have never been successful.I read somewhere that you behave most like the 3 people you spend the most time with.So it would stand to reason that you would want to surround yourself with successful,positive,supportive people,not negative people who will make it very dificult to succeed if not impossible

So true Bish. "No more stinkin thinkin" will influence how I think and in what I do.

we need to keep all the postive poeple in our lifes not the neg. ones. we need to stay focus on our goals and keep moving foward and that is not that easy when you are first starting real estate investing. because when someone saids no it can get you down I know. steve g

Forest Gump said, "Life is like a box of candy, you never know what you're going to get."

That is so true. My real agent bailed on me recently, right when I expected to hear from her stating that an offer had been accepted. My fault. I tried communicating with her on a regular basis but out of the blue, she threw a curve ball at me.

Luckily, I had reserves in place and hopefully I will be able to recover in a couple of days.

Meanwhile, I urge you to always have a back plan(s). You never know what curve balls will be thrown your way.

one argument I present with listing agents is that if they do such and such for me and I happen to purchase the subject property they will not have to split the commission with another broker/agent. So it becomes a win/win for all parties involved if he/she provides me with (whatever info I need) also I mention the fact that I am a repeat customer looking to establish a long term relationship with him/her. Is this something they would be interested in?

Doesn't hurt to ask and if they say no, there's always another agent around the corner.

Hope that helps shed so light on have a backup plan.

Thanks for reading this post.

homeless - new badge - super contribution

as far as your post above. You live and learn and move on

So true,I am in that exact position with my agent,Time to go to the back up

Thanks for comforting comments. Live and move on, exactly.

Well, this afternoon I went out to look at three new suspects. Called the listing agents. One seller had accepted an offer already, the other are up in the air until I hear back from the agents.

Can't let that delay my efforts. Got to keep on pushing on. That next deal is just one offer away.

I now have 666 points. I must post this. I not superstitious or anything, but why chance it.

That's probably not a bad idea,i would do the same

LJ the wheels are turning now. You are on a roll. All the best.

Sandra