Sunday, December 23, 2007

Creating Wealth for Women

Don Loyd, writer, real estate broker and President of the Oregon Association of Professional Real Estate Investors, is also the author of a new book. Creating Wealth for Women is a must read for any women (or man) who wants to break free from the rat race and make it on her own.

Creating Wealth for Women is the perfect primer for real estate investing. Don covers everything from how to set up and maintain a business to how to protect your assets from predator attorneys.

Real estate investing is the single most powerful avenue for creating wealth. It's a natural fit for women. Yet few have entered into this field. Why? I think mainly it's because women simply are not aware of the powerful potential real estate investing holds for them.

The truth is, with a small investment of time women can open the door to the dreams they hold most dear: college education for the kids, a secure retirement and time to savor life. The first step is to stop thinking a pay check will secure your dreams - it won't. The focus of most people is money - as in a job. This kind of thinking, although embraced by the masses and accepted as convention wisdom, is a severely limiting mindset.

Money is simply a vehicle....Don Loyd weaves a safe, sound strategy for women to create wealth using little or no money out of pocket.

Read about Creating Wealth for Women, or order you copy, at www.CreatingWealthForWomen.net. The special price ends on December 31, 2007.

© 2007 by Don Loyd

Don Loyd – www.RealCashFlow.net


Tuesday, August 28, 2007

Don Loyd

Have you ever felt like giving up? I mean, really give up! Are you are ready to give up on your marriage, dreams and/or life itself? I have been there. I've felt the despair, failure and helplessness and the feeling of being all alone. Those kinds of thoughts result when we believe the lies told to us. Lies like, "I'm not good enough," "no one really loves me," "I have nothing to offer," and "I'm no good and I'll always be a failure." Because I've been there I want to share with you a story of survival and accomplishment.

I was in Gold's Gym one morning five years ago when an attractive, petite, 5-foot-tall stranger, about my daughter's age, strolled by. New to the gym but with a look of experience, she was dressed for a workout at about 5:30 AM - pretty noteworthy in itself. She bore a raised, rectangular scar on her thigh: the telltale mark of a skin graft. I was struck by her determined and self-assured body language as she walked past me - even though she wore a support on her left knee and a brace on a scarred and shriveled left arm and hand.

Over the course of the next few months, I watched her with interest. She was always upbeat, and always had something encouraging to say to others. I was very impressed by her tenacious workout: she was relentless in spite of her weaker left arm and hand. I was even more impressed that she seemed unaware that she might have any kind of limiting physical condition. Her attitude and demeanor were especially memorable because this is a place where many young women are concerned more with their makeup than cardio.

A few weeks after I first saw her, when she and I were doing weight training, I was granted permission to ask a personal question. I asked about her arm and hand. She answered directly and honestly, and she has been my hero ever since.* * *Shannon Bart, my co-author and collaborator in a forthcoming book, is truly an amazing woman. Not only has she overcome challenges that would have stopped lesser people, she has excelled in spite of them. She's been an inspiration and source of encouragement to many people. Her experiences, her education, her achievements and her remarkable perspective on life make her uniquely qualified to contribute to this book and take the role of your coach and mentor. I think she will become your hero, too.

Here's her story:
Shannon was physically active in her youth. A talented gymnast, she pushed herself to compete and succeed, and as a freshman was a member of at Arizona State University's gymnastics team. Unfortunately, during a practice she tore her anterior cruciate ligament. It was an injury that required surgery and marked the end of her gymnastics career. A hospital stay was followed by six weeks on crutches and in physical therapy. Although this could have been devastating, Shannon wasn't discouraged: she pressed on.

By the fall of 1997, Shannon was married and pregnant with her first child. But in October, 26 weeks into her pregnancy, she went into preterm labor for no apparent reason. Her doctor ordered strict best rest and tried to determine the nature of her condition. Within a month, she'd been flown to the High Risk Pregnancy division of Columbia-Presbyterian St. Luke's Hospital in Denver, where her labor continued, her doctor still unable to uncover the underlying cause. Eventually, it was discovered that Shannon had a degenerative kidney disease. She would need a kidney transplant sometime within the next five years.

"Can I have more children?" she asked. Shannon and her husband, Sean, had talked about having three. "Maybe after you have a transplant," was the Doctor's bleak prognosis.
During the remainder of Shannon's pregnancy, she had to endure eleven weeks of steroid injections, strict bed rest, 2 amniocenteses, medication every ninety minutes and continual home monitoring. When that - and thirty hours of labor - was over, she delivered, by emergency c-section, a three-pound, ten-ounce baby boy: Hunter. The little guy's heart stopped beating in the delivery room. Thankfully, he was resuscitated, but he had to stay in the hospital an additional four weeks. Hunter has grown into an energetic boy who wants to build houses, like his dad, and the top speller in his class.

This sounds like a great success story already, doesn't it? But we're not through.
A mere six months later, Shannon's life, and that of her family, went spinning out of control. Shannon, Sean and Hunter were on a road trip to Santa Fe, New Mexico to visit her mother. One morning, at about 5 A.M., Sean swerved their SUV to avoid a collision with a construction vehicle. Their SUV flipped over. As the car rolled Shannon's left arm and hand were thrust through the broken sun roof and skidded down the pavement beneath the overturned car. By the time the SUV landed upright her arm and hand had been crushed and stripped of flesh, muscle and sinew. Sean pulled Shannon and Hunter from the car. He applied a tourniquet to her arm to stop the bleeding and flagged down a truck driver to call for help.

Shannon will always wear the scars of that accident. She has no idea how the surgeons put her arm back together: she calls it a medical and scientific marvel. She remembers asking the emergency room doctor, "…are you going to give me something for the pain?" There was no pain yet, but she was sure there was going to be some very soon.

Healing came slowly: she endured another two weeks in an Albuquerque hospital and seven more weeks in Albuquerque, healing. It took twelve months to return to a "normal" home lifestyle. With the help of Sean and family members, progress inched along at a snail's pace. Even after four surgeries, a skin graft, a muscle graft and a series of "cleaning outs," Shannon is missing about 3 inches of bone in her left arm. She is also missing nerve function and sensation, and she carries with her, wherever she goes, a metal plate and screws.

Instead of becoming bitter, or getting angry at God or the world about the misfortunes that have befallen her, Shannon has remained positive and grateful for what she does have: a family and friends who were always there for her.

Much to her credit and never-say-die attitude, she completed her Masters Degree in Psychology while going through the horrors of rebuilding an arm. "I love my arm," she tells me. "Even after the fourth surgery the physician was not sure I would keep it. If the graft had failed," she continues, "he would have had to amputate it. It is a daily reminder to me of how blessed I am to be alive. I have the opportunity to share my life with Sean and raise my son and grow old. My scars are a testament to who I am."

Shannon is my hero. Here's one reason: she didn't flinch when life threw her a curve ball. She isn't bashful or ashamed of those scars. She wants people to ask about them. She loves giving positive insight to people who need it. Does she want to revisit the challenge? Here's what she said: "I don't particularly want to do it again, but if God gave me the opportunity to do it all over without the accident I would tell him, 'no, thanks'". Since the accident, Shannon is a different person. I think she became a better one.

Eventually the Barts moved to Bend, Oregon, Shannon's home town, and found a new nephrologists. The first year back in Bend, she had five kidney infections. She underwent surgery, which seemed successful but five years later, her kidney began to fail.

More labs tests, medications and doctor appointments came next. She had to consider dialysis and a kidney transplant. Shannon made the decision not to go on dialysis. She knew she had a health problem, but she never conceded she was sick - even when she was very ill. And, she didn't want to leave her son with memories of Mom in dialysis.

A seasoned surgery veteran, Shannon chose to have a kidney transplant before she needed dialysis. One day she told me, quite off the cuff, "Don, you won't see me for a few weeks. I'm going to Portland for a transplant." I didn't even know she had a problem, let alone know a serious one. She described her choice to have surgery this way: "It's like you are walking down a train track, in a tunnel, in the wrong direction, and there's no way to get off. You know the train is going to hit you, you just don't know when."

The search began for a matching donor. Shannon found one in her own home: it was great friend who happened to be living with Shannon and Sean. The three of them went to a Portland, Oregon transplant clinic. They spent five days in the hospital and an additional four weeks in recovery in a spacious hotel room nearby. Shannon's mother was there to care for Shannon and Jeramie. Shannon told me, "The whole thing would not have been such a blessed experience without all my family who visited, prayed, and supported us."

She calls this life threatening experience a "blessed experience." Many people I know might have found another way to describe it - and not in such positive terms. But this is one facet of Shannon that has earned her a place in my heart, and another reason she's my hero. In spite of the obstacles and challenges, she faces life and people positively with her chin up, treating life like a treasure hunt.

She writes, My recovery was an amazing experience. I felt healthy within 24 hours of the surgery. My labs were normal for the first time in almost ten years. I had no complications, no infection, no rejection and a month off with no responsibility except to sleep, eat, read and be well. I made a concerted effort to enjoy every minute of it and remember how happy I was. I have continued to enjoy great health and daily gratitude for being alive. I am a big proponent for living donor transplants and getting that transplant before people are at death's door.

And, characteristic of Shannon, she feels very strongly that the story is not as much about her as it is about the people in her life who helped her through all her trials. She takes the spotlight off herself and places it on others. She believes this is their story. "It was easier," she wrote to me, "to be the patient than to be the ones in the hospital waiting room. I wouldn't have traded spots with them for anything in the world."

She has tremendous respect and love for her husband, Sean. She recently confided to me, "… my husband, Sean, has never wavered in his love or support. I am not the woman he married. I have changed physically and personally and he has never looked at me differently than the day we got married. Okay, maybe differently - but not in a lesser fashion. He is my hero for so many reasons".

This wonderful, beautiful woman I've described to you is truly in a unique position to serve as your role model. It's my hope that you can get a new positive picture of what life can be. If you think you there's nothing to live for, think again. If you think God has turned His back on you, He hasn't. If you believe you've nothing for which to live, you're wrong.

God has a plan for your life. A good plan, too. But as long as you're focused on your own "problems" you won't be able to see what that plan is and enjoy the life God has for you. Here's what I want you to do:

Step One: Whenever you are at your "rope's end," think in on the good things. Even when life seems bleak there's always some good on which you can identify.

Step Two: When you don't know what else to do, focus on others. One of the basic flaws in our psychological culture is its focus and obsession with "self." Here's the truth: if you can learn to be concerned with the needs of others, you won't have the time or energy to think about your own "problems."

Step Three: If you come face to face with despair, learn to give. After you've leaned to focus on the need of others, learn how to give to others. Freely give your time, money and services to good causes.

Step Four: Take personal responsibility for your actions. If you blame others for your position is life, those whom you blame are controlling you and you cannot move forward. If you've made bad choices, say so and break the vicious cycle and go on to greatness. It is your choice.

Regardless of where you are in life, or the challenges you face, there are millions of people who would trade places with you. Shannon has faced many more obstacles than you or I will ever have to face. Let her be your hero and role model. If she can prosper in spite of her challenges (or "opportunities" as she would describe them), so can you.

It is now up to you. The only question that remains is, will you become an achiever? You can! Will you? My challenge to you is to go for it! Live life to the fullest and don't believe the lies, only believe the truth: You are bright enough, smart enough, good looking enough, and all the other positive words you can imagine.

Sign up for Don's free Creating Wealth Newsletter and receive a free copy of his new ebook, "Success Begins With a Dream." Go to www.RealCashFlow.net

(c) 2007 by Don Loyd

Saturday, August 4, 2007

Don Loyd and Lease Options – The Way to Grow Rich While Lenders Drop Like Flies

Don Loyd, President
Oregon Association of Professional Real Estate Investors

As I reported the past two Fridays in our club meetings, lenders are changing and dropping loan programs and an alarming rate. I was told by my mortgage broker on August 2nd that some of the lender programs were changing by the hour. What does this mean for real estate investors?

In Friday’s session, August 3, 2007 I talked about the wonderful opportunity investors have in “purchasing” homes via a lease option program. You can be as creative as you want to be right now and sellers very well may take you up on your offer.

The problem with lending right now is that mortgage underwriting has resulted in borrowers being turned away in droves. I read about a Wells Fargo jumbo, 30 year fixed rate loan program in which the rate has gone up to eight percent. Last week that same loan was 6 7/8.

As most of you know, I’m a big proponent of lease options. I’ve written and spoken about them many times. I think we are in a wonderful market for buying and controlling property. Now is the time to seek out lease option “purchases” because you can now enjoy maximum profit I wouldn’t be surprised to learn the next twelve to eighteen months produces some of the very best real estate deals for real estate investors.

Educate yourself on the subject of lease options and get with it. You don’t need much money and you have the potential to do exceedingly well. If you believe you can’t do it, you are correct – you can’t. But if you believe you can, you are also correct. It’s your choice. What do you choose?

Next Friday I plan on bringing a lesson on building a business plan to accommodate a lease option approach to real estate investing. The following Friday I will teach the principles and strategies of buying and selling on a lease option.

For more articles on real estate investing see our website at http://www.oaprei.com/

Sign up for Don’s free Newsletter and receive his new book, “Success Begins With a Dream.” Go to http://www.oaprei.com/

Copyright 2007 by Don Loyd

Saturday, July 28, 2007

Don Loyd - Dynamic Mindset to Real Estate Success

Don Loyd, President
Oregon Association of Real Estate Professionals

From my earliest days I remember thinking and planning on ways to make money. When I was in the second grade I came up with a plan to gather apples from nearby orchards and set up a roadside stand along California’s Highway 101 in Cloverdale. I enlisted my brother’s help and together we set to work with dollar signs dancing in our heads. Unfortunately we didn’t sell any apples that day and if I remember correctly, we took the apples to our mother who made apple sauce out of our stock.

The fact that I had failed didn’t seem to bother me. I kept thinking and planning. In a comic book I found a coupon advertising a business opportunity, mailed it in, and I started my very own door-to-door greeting card sales company. As you might imagine, it wasn’t much of a company but nevertheless I knocked on our neighbor’s doors and talked to our friends and sold boxes of greeting cards. Mother was probably my best customer.

I began to see the advantage of repeat customers and started a TV Guide sales route which ran on Saturdays. I would receive my weekly allotment of TV Guides and hit the sales route. When I was 12 years old I hit the big time. I had a paper route that paid big bucks - a penny a paper to deliver the Fresno Bee in Sanger, California!

I seemed destined to a life of marketing and sales – which is quite interesting when you know the “rest of the story” as Paul Harvey has said many times. From early childhood I had a speech impediment. I stuttered. My problem made talking difficult and understanding what I was saying almost impossible at times. My “disability” was very, very bad. I entered speech therapy in the first grade and although I continued with it for many years it didn’t help. Finally, when I was a freshman in high school I pulled the plug on speech therapy.

As a result of my speech problem I was often the brunt of jokes. I was called names and made fun of by my peers. In high school I might be walking down a hall and someone would say, “Stutterin Don, how’s it going?” Adults tolerated me and often tried to finish my sentences when I couldn’t get the words out – much to my frustration and annoyance.

In 1967 I tried to enlist in the Army but I was rejected because my speech impediment was so severe. This was during the height of the Viet Nam War and they were taking almost every young man with a normally beating heart. I was classified 1-Y, just one step above the worst classification – 4-F.

Soon after my Army rejection I married my wife, Becky, and we had a large church wedding. I didn’t want to repeat my vows because I didn’t want everyone hearing me make a mess of things. However, since the vows are the central part of a wedding ceremony I couldn’t avoid saying them. When it was my turn to repeat our vows, I just mumbled some sounds so the preacher could hear something.

As hard as my speech impediment was to endure, I determined not to let it, or other people’s reaction to it, stand in the way of my dreams. I decided I was in charge of my life, not those who poked fun or ridiculed me. My success, if any, was up to me.

In 1970 my dream was to “get rich,” or at least my version of it. I contacted the brother-in-law of a friend of mine who had a direct sales company selling fire alarms “door to door.” My friend told me about all the money his bother-in-law was making and I knew he drove a new El Dorado, wore great cloths, had a nice house, and owned a lot of real estate. That was right down my alley.

I wrote him a letter expressing my desire to go to work for him. I wrote rather than call because I didn’t want him to know of my speech impediment. He later told me he already knew about my speech impediment and hired me as a result of it. He said the fact that I wanted to succeed overrode any “handicap” I had. I believed him, took some sales training (principles I still use today), and started knocking on doors.

Picture the scene: an awkward looking 130 pound kid who can barely communicate is knocking on cold doors trying to get the person inside to purchase an expensive product. Looking back, I must have been laughable.

Today it’s very difficult to tell that I ever had a speech problem. I cannot put my finger on any one thing that was the genesis of my transformation but today I speak frequently and persuasively to all sizes of groups. I own several companies which enjoy incomes in the millions of dollars. I lead a very successful real estate investment club and ran for a seat on our County Commission as well as a run at the State Senate.

The story is not that I had a speech problem. The story is I had a speech problem, so what? The fact is, all of us have a “handicap.” Some handicaps can be seen. But the most destructive handicaps are those that can not be seen – the mental stumbling blocks that lead to mediocrity and failure.

One of the greatest hitters in baseball history is Mickey Mantle. Mickey is remembered as a great home run slugger, but did you know he struck out more than 1,750 times? In addition, he walked to first base more than 1,750 times. In other words, there were more than 3,500 times he went to home plate and didn’t hit the ball. That is the equivalent of seven full seasons he never had a base hit!

Here’s the lesson in the form of a question: If you never get up to bat, how are you going to hit a home run? Furthermore, it’s not the misses that count, it’s the hits. Learn from your misses but focus on your hits.

But, there’s more! Although Hank Aaron broke Babe Ruth’s home run record, the “Babe” still has some interesting stats. One is the best percentage of home runs per ‘at bat.” Every eleventh time Babe Ruth came to the plate he hit a home run. How many of you feel good going 1 for 11? We often think we have to bat 1000. We expect to hit 100 for 100.

If you are a major league baseball player and had a batting average of .300 you would be paid several million dollars each year. Think about that! That’s 30 for 100, or 3 for 10. The fact is, very few professional baseball players enjoy a batting average that high yet you think you have to hit 1,000.

One mindset of the successful is that they have a positive expectancy of success and they are tenacious with their goal setting and planning. I think the important thing to these individuals is the effort they expend and the journey they take. If you never go to bat, or if you never get in the ball game, you will never get a hit.

You have choice. You can live life on purpose, or you can live it by chance. It’s up to you. Get in the batter’s box and strike out a few times. It’s okay. Never fear failure. When I make a mistake (that goes without saying) I increase my awareness and improve my performance. I refuse to relegate my disappointment and failure to the back of the bus and purposefully move them up front where I can deal with them, work out the kinks, make adjustments and get back on track toward success. I turn my mistakes into stepping stones toward my goal. I figure if didn’t make a mistake yesterday, I didn’t learn much.

Success or failure is up to you. If you want to be a success and overcome the invisible handicaps that are detrimental to that success, you need to know that you can do it if you think you can. I overcame a “handicap” that could have stopped a speeding train. You can too.

Here’s how you can do it.
1. Decide what it is you want to do and carve out a niche for yourselfIf you try to be all things to all people the deck is stacked against you. You have to find a unique position for you.

2. Set measurable goals. You need both long term and short term measurable goals. Write these goals out on paper. Until you write them down, they simply do not exist.

3. Define how you will attain those goalsAfter you write down your goals, determine how you will achieve them. Write a step-by-step plan. Create a road map that clearly defines how you are going to reach are your destination.

4. Work your plan. As you do the daily activity it takes to accomplish your goals, focus on the daily activity rather than the goal. I your goal is to purchase one rehab property each month focus on the activity that will result in that one purchase.

5. Make adjustments as needed. You will make mistakes and experience failure from time to time. When this happens, do some soul-searching. Determine where you went wrong and readjust your approach but do not allow yourself to become distracted from achieving your goals.

6. As you work your plan, start thinking about ways to give to othersIf you cannot give away your money, it owns you. If you do not give yourself and your money to others, you will become self-focused and shallow. Contentment will always elude you.

7. Be a mentor to othersThere are millions of people who would like to be where you are. Take one or two along for the ride with you. Teach them what you have learned.

The question you are now faced with is crucial. What are you going to do with this information? Will you be inspired to get in the batter’s box and take a swing? Or, will you sit in the bleachers and play the role of a spectator? It’s up to you. My advise is the swing away. Strike out, make some adjustment, and enjoy the ride. Life can be a thrilling experience. Wouldn’t you like to enjoy it?

Batter up!

Sign up for Don's newsletter at www.RealCashFlow.net. When you do you will also receive Don's latest ebook, "Success Begins With a Dream."

Copyright 2007 by Don Loyd

How To Thrive In a Slowing Market

Don Loyd, President
Oregon Association of Professional Real Estate Investors

I lead a real estate investment club in which most of the members are relatively new to real estate investing. Until recently, they could purchase anything locally and be assured of a quick profit. They could make bad choices and still look good. Some of those same people are now feeling the pinch of reality as the local market slows to a more normal rate.

Having been in robust markets that have cooled to a recession level (a recession being when they lose money, a depression being when I do), I know there are certain things professional real estate investors can do to prosper in any market. Here are my seven steps:

Have a Plan
The first step is to have a plan. If you don’t have a plan, you are planning to fail – as the saying goes. Having a plan assumes you have clearly defined, written out goals. If you work your plan on a daily basis you will create wealth as you achieve your goals. Included in your plan should be time for business, family and spiritual – don’t forget the spiritual part of the equation. It brings the whole into balance.

Make a Schedule
The second step is to work a schedule. If you want to prosper, make a schedule and keep to it. Plan your day. You want to control events rather than have them control you. Have a fixed time each day for prospecting when you do not take phone calls, a time for appointments and to go real estate closing, etc. You will create more wealth if you discipline yourself to follow this simple second step.

Prioritize Your Activity
The third step is to prioritize. Not all activity on your schedule is of the same importance. Do the most important thing first and work down your list. If you have to find the funds to close a transaction, keep at it until you have it done. Tasks that have less importance can be relegated to an assistant. My assistant relives me of so much work it is unbelievable.

Work Only With Motivated Sellers and Qualified Buyers
The fourth step is to only spend time talking to motivated sellers and qualify all your prospects. It is a waste of time to talk to sellers who are really not motivated. In the inflated equity of our local market many have put their houses up for sale just to see what will happen hoping to get lucky. If a seller is not motivated the results can be discouraging and a waste or your time.
Don’t waste the buyer’s time either. It is fairly easy to determine if a buyer is serious or just dreaming. It is okay to have them dream on your time as long as you are secure knowing that you can help them achieve the dream.

Education
The fifth step is to take time each day to further your education. Learn different techniques that will make you a better buyer, seller, negotiator, entrepreneur, closer, or will bring you current with various markets and trends. I spend the first hour of each morning increasing my real estate knowledge. At the gym each morning you will find me reading another book on an investment related subject while doing my cardio.

Attitude
The sixth step involves having a right kind of attitude. The fact is, bad things will happen during the day. The question becomes, will it control you, or will you deal with the bad stuff and make something good out of it? All of us face circumstances we were not planning. What helps make one successful is how he or she handles the unexpected. I embrace the philosophy that says there is good in all situations – you just have to look for it. If a deal turns into a lemon I will try to make lemonade with it, sell it, and create wealth.

Plan to Give
The seventh step involves an idea that has been relegated to the rear of the philosophical bus. Most books and articles that tell us how to be successful are focused on “me.” They are all about what I want, when I want it. I think that is dead wrong. If you want to truly enjoy success you must first learn how to give away your wealth to others.

The principle of reciprocity is very real. The more you give, the more you get. I suggest that you learn to give away at least ten percent of whatever you earn. If you cannot do that, your wealth owns you rather than you owning it. You can give to a charitable cause (you may even want to start one), educational foundations, mission projects – the list is endless - just give it with the thought of not receiving anything in return.

The result will be a satisfying, rich life. I give to others to enrich their lives. I not only share my wealth but also my time. For example, I donate Fridays to helping budding real estate investors. Learn to give and you'll be amazed at the results.

You can survive and even thrive in a slowing market. You just have to work smarter and plan for your success. Follow these seven steps and you will do well.

Sign up for Don's newsletter and for a limited time download his new ebook, Success Begins With a Dream. Go to http://www.realcashflow.net/ and sign up today.

Copyright 2007 by Don Loyd

Thursday, July 19, 2007

How To Thrive In A Slowing Market - Don Loyd

I lead a real estate investment club in which most of the members are relatively new to real estate investing. Until recently, they could purchase anything locally and be assured of a quick profit. They could make bad choices and still look good. Some of those same people are now feeling the pinch of reality as the local market slows to a more normal rate.

Having been in robust markets that have cooled to a recession level (a recession being when they lose money, a depression being when I do), I know there are certain things professional real estate investors can do to prosper in any market. Here are my seven steps:

Have a Plan
The first step is to have a plan. If you don’t have a plan, you are planning to fail – as the saying goes. Having a plan assumes you have clearly defined, written out goals. If you work your plan on a daily basis you will create wealth as you achieve your goals. Included in your plan should be time for business, family and spiritual – don’t forget the spiritual part of the equation. It brings the whole into balance.

Make a Schedule
The second step is to work a schedule. If you want to prosper, make a schedule and keep to it. Plan your day. You want to control events rather than have them control you. Have a fixed time each day for prospecting when you do not take phone calls, a time for appointments and to go real estate closing, etc. You will create more wealth if you discipline yourself to follow this simple second step.

Prioritize Your Activity
The third step is to prioritize. Not all activity on your schedule is of the same importance. Do the most important thing first and work down your list. If you have to find the funds to close a transaction, keep at it until you have it done. Tasks that have less importance can be relegated to an assistant. My assistant relives me of so much work it is unbelievable.

Work Only With Motivated Sellers and Qualified Buyers
The fourth step is to only spend time talking to motivated sellers and qualify all your prospects. It is a waste of time to talk to sellers who are really not motivated. In the inflated equity of our local market many have put their houses up for sale just to see what will happen hoping to get lucky. If a seller is not motivated the results can be discouraging and a waste or your time.
Don’t waste the buyer’s time either. It is fairly easy to determine if a buyer is serious or just dreaming. It is okay to have them dream on your time as long as you are secure knowing that you can help them achieve the dream.

Education
The fifth step is to take time each day to further your education. Learn different techniques that will make you a better buyer, seller, negotiator, entrepreneur, closer, or will bring you current with various markets and trends. I spend the first hour of each morning increasing my real estate knowledge. At the gym each morning you will find me reading another book on an investment related subject while doing my cardio.

Attitude
The sixth step involves having a right kind of attitude. The fact is, bad things will happen during the day. The question becomes, will it control you, or will you deal with the bad stuff and make something good out of it?

All of us face circumstances we were not planning. What helps make one successful is how he or she handles the unexpected. I embrace the philosophy that says there is good in all situations – you just have to look for it. If a deal turns into a lemon I will try to make lemonade with it, sell it, and create wealth.

Plan to Give
The seventh step involves an idea that has been relegated to the rear of the philosophical bus. Most books and articles that tell us how to be successful are focused on “me.” They are all about what I want, when I want it. I think that is dead wrong. If you want to truly enjoy success you must first learn how to give away your wealth to others.

The principle of reciprocity is very real. The more you give, the more you get. I suggest that you learn to give away at least ten percent of whatever you earn. If you cannot do that, your wealth owns you rather than you owning it. You can give to a charitable cause (you may even want to start one), educational foundations, mission projects – the list is endless - just give it with the thought of not receiving anything in return.

The result will be a satisfying, rich life. I give to others to enrich their lives. I not only share my wealth but also my time. For example, I donate Fridays to helping budding real estate investors. Learn to give and you'll be amazed at the results.

You can survive and even thrive in a slowing market. You just have to work smarter and plan for your success. Follow these seven steps and you will do well.

Sunday, July 15, 2007

Improve Your Credit Rating - Improve Your Options

There are many real estate gurus who tell us we don’t need good credit to make millions of dollars in the real estate market. While that is certainly true, and I have shown many investors how that can be done, you can make much more with good credit.

Poor credit is a weight around your neck that can kill many good deals. It limits the alternatives and options you have when the money market dries up. Besides, it is a reflection of your character. A person who isn’t faithful paying their monthly bills is a person whose word is not very believable.

The person with “challenged” credit, as we generously sometimes say, has a flashing neon sign on his back that declares: “I know I promised to pay, and I had good intentions, but I decided to buy a new car and take my wife to dinner instead.”

Here’s what I suggest:
1. Run a credit report and make a list of your debts. This will identify who you have to pay and when you should pay.


2. Don’t roll your debt into a credit card and then another. While this may seem like the answer to your problem, you are only creating a larger monster to deal with later.

3. Prioritize your credit list. My wife and I, when we were facing some very serious financial problems, had to work really hard to get back to square one. Following are the steps we took:

a. We listed our creditors and chose to pay off the ones with the least amount of balance while making minimum payments to the others.

b. When the first debt was paid off we took the amount we were paying and applied it to the next one on the list.

c. We repeated the process until we were paying large amounts each month to the final credit card.

d. We changed our lifestyle. We rarely ate out, we drove used cars and took low cost family vacations only if we could do it without using our credit card. My wife shopped for bargains and clipped vendor coupons. It was difficult but well worth it to get back on our feet.

4. Use credit card sparingly, keep low balances and pay on time. Some writers advise us to destroy our credit cards once they are paid in full. I think it’s better to keep them and use them carefully to show the credit reporting agencies that you use credit wisely. In that way you can rebuild your credit rating - making available more options to fund your real estate purchases.

5. Establish a realistic monthly budget and stick to it. It’s the only way to get out of debt and rehabilitate your credit.

6. Be extremely careful with the equity in your home. You don’t want to draw out your equity and pay off your debt if you’ve not cured the problem. I’ve seen many people get into debt, refinance their home (or get a Home Equity Line of Credit), and spend their equity while not addressing the real issue of uncontrollable spending.

7. There are many resources available to help you overcome your indebtedness so use them. Someone has said, “the more you learn, the more you earn.” That is true with regard to building a good credit rating.

Use these basic steps to start immediately paying down your debts. You will have many more nights of sound sleep knowing that the phone is not going to ring with a collector at the other end wanting his money. As a bonus, you will be able to get more real estate under contract, and closed, as more avenues of finance open for you based on a strong credit rating.

Don is the President of the Oregon Association of Professional Real Estate Investors. You can meet him at http://www.oaprei.com/ or www.RealCashFlow.net. While there be sure to sign up for Don's newsletter.

Copyright 2007 by Don Loyd

Friday, July 6, 2007

Hello Everyone!

Welcome to my new BLOG!

It was good to have all of you at today's Investment Meeting - I hope you learned a few things. As I mentioned at today's meeting, I hope you will help spread the word about my 3 Workshops coming up next week. Please tell your friends about it and have them get their FREE Tickets at www.PlanningForMySuccess.com I look forward to seeing you there!

Make it GREAT day!

Don Loyd