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Planning!  BEHIND?

As Entrepreneurs we all know the importance of goal setting. Each and every one of us has heard the merits of planning ahead and at this time of year the New Year’s Resolution has been the Goal Standard practiced by millions the world over.

In fact, it’s getting to the wire and most of us are writing our New Year Resolutions.

You know the ones.

I will lose 5 pounds.
I’m gonna stop smoking.
I promise myself that I will not eat past 9:00 pm.
I will not discuss politics with uncle Ted, no matter what!
I will never again drink that cheap Champaign!
I will find a place to put all my bills and papers.

The typical goal is always set so somewhere in the future we will accomplish our feat.. Sometime down the road. Hopefully before next New Year’s Eve!

We may even write our resolutions down and file them appropriately.

Here’s a new twist! Write your goals for the past.

The Past?

Sure!

Imagine now. Let’s FAST FORWARD to New Year’s Eve 2009. That’s right! December 31,  2009! It’s 11:30 and we are all waiting for the ball to drop as we count down with millions of others with Champaign glasses raised!

Looking back at all of 2009 you have in your hands a list of all your goals. You wrote them last year! Proudly looking at your list you realize that most of your goals have become reality!

Now, here we are back in the present.
Make your list! Write them as something you have accomplished! Feel free to get creative!

This is best if written by hand or, if you prefer, typed on a computer.

Here’s the formula: Start out with something like the following;

Today, December 31^st, 2009. I, [your name], have accomplished the following:

• I no longer smoke cigarettes. I can breathe much easier now.
• I now weigh 225 pounds and I feel great!
• My new business is up and running. It now gives me an extra $300
  per month.
• My new filing system keeps all my documents orderly and easy to
  find.
• Every second Saturday of the month I take my spouse out to
  dinner!
• And, I am proud of my 6 pack abs. Ok, 5 pack!

Now doesn’t that make you feel like you’ve actually accomplished something already?

Now, Be Proud of your Accomplishments!

Print out your list and put it up on your mirror or some other place where you will see it.

Imagine if last New Year you made this list and only half of the goals that you listed came true!

Heck, you could even get a little braver and daring and aim higher on a couple of goals. Ya never know!

Here’s to you! Happy New Year!

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TV News Flash: The Economy in Crisis

Am I glad that the news media finally called it the way it is! This is GREAT! Time to Shine!

I can already hear the voices shouting “What do you mean? They say that the economy is in crisis! We are doomed!”

First, let me offer an observation. Last week I went to a well known restaurant chain, medium priced, and the place was packed. The waiters were busily taking trays of meals to tables and then again empty plates back to the kitchen. The register was abuzz! The average meal, if you wanted to re-create the event at home to save money, was to my estimation at least 7 to 8 times as much. Plus tip!

Not necessarily the methods the unemployed victims of corporate greed and those pondering medication versus food on the table would employ. Not to say that those conditions do not exist nor lessen the impact those people face, but watching the TV, and especially the politicians, one would think the nation in a serious funk and that these conditions are widespread. I cannot buy into that hysteria. Too general and too, shall we say, convenient!

Secondly, I would offer that the economy’s strength, and by association, weakness, (or lack of strength) is directly related to the value of the ideas within. Ideas are, after all, the only marketable commodity! An idea either adds to the problem or an idea alleviated or lessens a problem.

An arguable example of this would have to include the impact of our nation’s government and its impact upon the ideas generated by industry and commerce. Wall Street’s financial companies and the way in which they do business are heavily regulated, as we can all agree. SEC, FEC, Etc. The last consequence…..Bailout, big time! Who is at fault? Pick a side!

However, not all sectors of the economy are in trouble, contrary to what we hear. What we have is NOT an “Economy in Crisis”, rather, what we have are Ideas in Crisis!

As such, the only crisis that exists belongs to others that cannot or will not create their own ideas!

New, more creative, more beneficial, more profitable ideas need to be created!

That, my friend, is the best of all news that you as an entrepreneur can hear. Entrepreneurs are the grand originators of ideas. You are the best remedy to this whole dilemma. You and your ideas never had a better time to take seed, grow, and harvest. And, if your attention happens to be in the sector dealing with Real Estate……..JackPot!

What is your idea?

To your success,

David Pyndus

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Taking Stock in what is Available

As in any business you have to notice the trends and act upon them appropriately.

Real Estate investing is a very localized business. By that I mean that what is happening in Albany, NY may be totally different than what is happening in Biloxy or Seattle. Often times what is happening on Main Street is 180 degrees from what is going on near Park Avenue.

I’ll give you an example of what I mean. The Slope on the west side of a neighboring city has sporadic sales. Prices are not too far off what they were a couple of years ago but sales are were taking longer. The Heights part of town just a few blocks east is experiencing an upbeat market mainly in condos. In another part of town to the south new construction that began just last year has slowed to a crawl.

What is happening in your town? How do you find out?

An obvious source would be a realtor that has been in the business for at least 3 or 4 years. They have been through some good times and are now navigating through somewhat choppier waters. The knowledge that may possess, however, could be very local. I realtor friend of mine specialized in what he describes as a 10 block radius. Depending upon your vision of what kind of real estate you would like to invest in and where you would like to invest you can generally find a realtor that would be willing to share their knowledge. It would be best to have your questions formed before you meet with the realtor so as to be respectful of their time.

I have found that real estate agents at open houses in areas that I would be interested in investing are ideal. Open houses tend to have busy times as well as slow moments. During a slow period your presence can often be viewed as a welcome sight.

Obviously, visits to the agent’s place of business can present opportunities. There you can generally see flyers or pamphlets of what kinds of properties that the agents have listed for sale, the asking prices, etc.

Some questions you can prepare in advance should include what is the inventory (number of properties) in a particular area, average time on market (how long the properties are listed prior to being sold), how different are the listing price versus what the properties are actually sold for, and if different types of properties are selling better than others.

And, most importantly, while you are learning, remember to Have Fun!

Until next time, wishing you Success,

David Pyndus

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Trying to make sense of the Fed Mindset

Hi, you will like this…. Short and to the point!

Until just recently I have been absolutely sure of one thing. No matter who got elected a politician will be…..a politician. My observations of recent events only confirm my belief.

Captain Jack Sparrow in “Pirates of the Caribbean” said it best when he said to his rival, Captain Barbossa, “Me? I’m dishonest. And a dishonest man you can always trust to be dishonest. Honestly. It’s the honest ones you want to watch out for, because you can never predict when they’re going to do something incredibly stupid.

And, I must reluctantly admit, for the most politicians are incredibly……..well, honest!

We may be looking at a proverbial free for all as far as the credit markets are concerned. Prior to November 4^th, Election Day, timing could not have been worse for an emergency to pop its ugly head into the public eye. No politician up for reelection would be caught dead not doing something. One even stated that if they needed me they can call me. (Hmmmmm, Bigger fish to fry?). C-Span was at no loss for film footage and editorial content.

$700 Billion dollars later, like I could even picture what that means, we have not only a housing market to fix along with Wall Street financial giants mired in subprime debt, the auto industry’s big three have lined up next followed by various states and towns across the US looking for a bailout from the Federal government (You + I = Fed). What’s next?

Confusion creates Opportunity!

Ask any football coach worth his salt what do you do on offense when the defense gets confused. Stick to the basics again and again and again, and you will prevail!

Fact #1. Now may be the best opportunity to take advantage of real estate as an investment in the last 20 years.

Fact #2. Cash may be King. Finding creative means to finance and leverage your investments could be your biggest challenge. Finding ways to fund not only your activities, but also your customers purchases may be the key to your success!

Fact #3. Altering your business structure to take advantage of the wealth of opportunities available require you to get back to the basics.

Fact #4. Be prepared to educate your end buyer. This may be the key to your success.

Fact #5. Leverage your talent so that you can take advantage of the many different types of purchasing opportunities such as pre-foreclosures, short sales, REOs, and the others. The mainstays of probates, job relocation, etc., will be there too.

Conducting your business affairs with simplicity and purpose will keep you going strong during the day and sleeping at night!

See you next time and I look forward to your thoughts, too!

Thanks,

Davis Pyndus

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A matter of Perception

The Real Estate market is not dead, yet! It may be on vacation or sitting on the sidelines waiting for any last remnants of any election year government interference or attempts to fix it’s interference to evaporate, but, it ain’t dead yet!

Still bargains abound everywhere we look, from short sales, REOs, probate cases, pre-foreclosures, job relocations, etc., and may even be more abundant than years past. Possible new homeowners, however, are facing the possibility of losing their jobs, their 401Ks, their stock portfolio, or have other issues that require their immediate attention. The lone investor may be the only one looking to capitalize on these finds while on the other hand looking ever more creatively towards a solution to the property he/she may have already.

Are we giving too much credit to what we cannot control? What is missing?

Human nature, being what it is, never is logical! Give a person a choice to spend an amount of money on something they really, really, needs, versus what they really, really, want and guess which side wins. There is an old saying in the direct sales profession that states “Sell the Sizzle, not the steak”.

Test this out yourself. Picture a T-bone steak sitting on a platter in the edge of the table where you regularly sit. You smile and nod approvingly that that a steak would be a nice idea for tonight’s dinner. A good idea! Ah, but we are having chicken. J

Now, close your eyes and hear the steak sizzling on a metal platter as it is being carried to your table as you imagine the juices of the meat bubbling and steam rising from this culinary delight. Fill your senses with the aroma of specially prepared spices that were carefully added as they mix with the steak. Smile as you hold a butter knife and seeing it almost without effort size the perfect portion at the edge of your fork. Can you taste it?

Hey, get back here! No one said to go to the store to get that steak just yet!

Now, for your first assignment, take a look at what you are offering your prospects.

Have you been telling your customers something like this, “House with large living room, back yard, Must be seen. Only $249,900″

Or,

“This home will have you inviting yourself back week after week as you enjoy your private back yard with friends while a spacious living room awaits your command. Stop Renting and get this for only $2,300 per month”. Note: most people purchase according to their budget.

Are you presenting the correct information to your prospective buyer to allow them to make the proper choice?

Take a look at what you buy and why.

Need: Transportation to and from job. Want: Anything but a YUGO? We can narrow that down a bit.

Need: Roof over your head. Want: _____________________________!

Need: Watch news to see what is going on in the world. Want: __________________________!

Need: Clothing. Want: ____________________________________!

And, the winner is Eveyone!

Whatever your involvement in your company selling is Essential!

Thanks,

David Pyndus