mation – or try out a podcast or two! One of my favorite blogs is called “Abundance Insider” by Peter Diamandis, a Harvard-educated doctor with an undergraduate degree in molecular genetics and a graduate degree in aerospace engineering from MIT. His favorite saying, “The best way to predict the future is to create it yourself,” is exactly the type of mindset early adopters should practice! • > Continued from :: PG 47 The Dangers of the "Overnight Success" Myth As 2018 comes to a close, the national housing market and most local markets are shifting and changing. Many “overnight successes” in real estate may experience some painful adjustments if they are not prepared to alter their strategies and imple- ment the more difficult side of the 20-Mile March, the part wherein they press ahead rath- er than simply doubling long-term strategy, for example, or begin buying to hold in markets where previously you had been flip- ping. This may mean finding new sources of funding or learning about a new market. Do not make the mistake of listening to your fear rather than your rational mind. The myth of the “over- night success” has made for a lot of very bold and very down on what they are doing already. It may be time to change from a short-term to a
bad decisions, particular- ly amongst entrepreneurs. Ignore the shiny objects and doomsayers. Look at your real estate business as the long-term project that it is and work to grow it purpose- fully and consistently at a steady and productive pace. • YouTube Videos can be as simple as “Watch the next video for more information on (insert your topic here)” or a more specif- ic direction to a webinar or other webpage. Everyone feels self-con- scious in front of the camera. Just click play and start re- cording! You are the only one who will notice how nervous you are, and those nerves will fade over time. • > Continued from :: PG 51 Prevent a Holiday Cooking Fire Disaster in Your BONUS TIP Just Click Play! WON’T INSURANCE COVER THESE LOSSES? The quick answer is…may- be. While insurance is an important part of your risk mitigation plan, it typically doesn’t cover every type of loss, and each policy is differ- ent. Always check with your agent if you are unsure about your coverages. Even if your insurance does help, you can avoid a variety of expenses and hardships (think stress, loss > Continued from :: PG 49 4 Tips to Perfect Your Investment Properties
of sleep, lost profits, lawsuits, guilt and more) by taking the proactive steps above. •
those types of houses or they donate them to groups that do not have the first idea how to do the repairs so the homes continue to sit empty and neglected. Find an orga- nization that specializes in the repair side, though, and they will thank you sincerely for that gift every time.” • > Continued from :: PG 93 Breaking Down the Networking Process to Meet "Big Players" in Real Estate insights of your own. For example, you might ask something about their market or why they made a particular decision on a deal. Remember to keep it brief, though. You are not giving a speech. Once you have asked your question, take their card, thank them for their time, and step away. This is really important! They probably do not have time to answer that question right now and, furthermore, you should be networking with other people also. However, now that you have asked the question you have the perfect reason to follow up and they are far more likely to remember you. If they do answer your question, be prepared to follow up anyway with another one. It does not have to be something really deep because you are not trying to get free consulting or take advantage
Term Elections What to Watch:
of them. Just use the ques- tion as a good way to make an impression and create an avenue for follow-up. THIRD, FOLLOW UP. A lot of people go to events and work really hard to meet others in their industry, then never follow up. Follow-up is essential! It is just as im- portant as the introduction itself, because the introduc- tion really is not much good without the follow-up. You can follow up with another question or with a request for an appointment, but don’t be afraid to ask for things! You
will not get anything if you do not ask for it. Often, a lot of people tell me later, “I was afraid to ask you for this or that.” If I had known, I probably would have accommodated them, but I didn’t know. If you are unsure or shy, just ask if you can contact their assistant and make an appointment to speak later. Most will tell you to go ahead and do it, but the best time to make that request is face-to-face. Once you have their go-ahead, you now have a way to keep working on that networking relationship at a later date. •
> Continued from :: PG 27 Institutional Class-Action Lawsuits Spell
In the event that politicians supporting ZNE mandates and related legislation take or retain office in November, this will likely shape national leaders’ willingness to tackle federal energy legislation and, by association, environmental tax policy and other environmental issues that could affect home values regionally and the cost of construction and homeownership nationally. • > Continued from :: PG 45 Innovative Real Estate Investing What went right: We were able to use infor- mation we already possessed to optimize a new technology as soon as it was truly ready. Lesson Learned: Look for places in your business where you can help employees evolve. Technol- ogy does not have to be about replacing people. Some- times, it is
> Continued from :: PG 59 5 Things to
Trouble for Individual Landlords
Consider Before Hosting a "House Giveaway" trainings teach new home- owners how to budget, how to predict how much they will owe on property taxes, and how to keep up with household expenses. “We actually require our veter- ans to complete a financial training course as part of the process to receive the house,” Lacy said. “It helps them prepare for the point in time where they’ll be making monthly rent or mortgage payments on their own and it has dramatically increased our success rate because it helps them put the money side of the equation into perspective.” NO. 5 Identify an organiza- tion that has the expertise to use your gift. Not every property will be a good fit for every organiza- tion. “Say you want to donate a property that has suffered some damage over the past year. Your tenants let a leak go unreport-
any other corporate landlord, nor is it intended to be a neg- ative series of observations about tenants. This content should simply serve all land- lords as educational material that can help you standardize your processes regardless of your portfolio size. Whether you own one property, 100 properties, or more than 1,000, when big headlines hit the press about “bad blood” between tenants and landlords, a certain pop- ulation of tenants will start wondering if they, too, have been mistreated by you, and a certain population of litigious attorneys will be all too eager to help them start the process of suing you if it appears that there is any chance of a big payout at the end. Protect yourself from these com- plaints and your tenants from predatory litigators by mak- ing all processes from rent collection to maintenance requests clear, consistent, and nonnegotiable. Using the many methods available to communicate with your residents - from tenant portals to text mes- saging - will keep an open and transparent dialogue and may help you avoid the court room. •
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about helping your business and your em- ployees evolve together.
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The PIP Group, LLC
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Private Money Lending Guide Radius Renovation Group
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KEEPING AHEAD OF THE CURVE Keeping up with the latest technological innovations can be difficult for busy investors but strengthening your early adopter mindset will make the process easier. Keep up with the latest in inspirational ideas and concepts by select- ing a few blogs or news sites to read regularly for infor-
ed, maybe, or the house has been vacant and is a little neglected.
RAL Academy
Investor Review: 8-9, 16
Realeflow
11
Real Property Management
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Real Wealth Network Renters Warehouse
49
100
You need an organization with the means to fix that house,”
RentFax
90
> Continued from :: PG 33 3 Real Estate- Related Factors Emerging in the 2018 Mid-
Think Realty
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59
Lacy said. “A lot of people are embarrassed to donate
96 | think realty magazine :: november 2018
thinkrealty . com | 97
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