There are relatively few people who truly feel wealthy and don’t worry about their monthly income covering their rising monthly expenses almost daily or weekly. It’s much more important how much you save and invest each month rather than spending 100% of your net income on household expenses.
Comparing one’s wealth with friends and family can be quite depressing for many because you’re more likely to know someone much wealthier than you. It’s much more healing for you to focus on what you do have in life and who loves you by way of gratitude. This is because good health and happiness are the greatest forms of wealth in this world.
“Comparison is the thief of joy.” – President Theodore Roosevelt
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Let’s take a closer look below at how you may compare with the rest of the world as per the World Bank:
Approximately 8% of the world’s population lived in extreme poverty back in 2019, which means that they subsisted on just $2.15 (U.S.) per day.
The World Bank listed worldwide poverty numbers within two daily income thresholds as lower-middle-income countries (LMICs) at $3.65 (U.S.) and upper-middle-income countries (UMICs) at $6.85 (U.S.) per day.
Approximately 23% of the world’s population lived below the UMIC daily income range of $3.65 in daily income.
Another 47% of people worldwide lived below the $6.85 poverty line, as shared in a World Bank report entitled Poverty and Shared Prosperity 2022.
The median worldwide income of $7.60 per person per day is very close to the upper-middle-income countries (UMICs) line.
70% of the world’s population lived in middle-income economies, where the international poverty line might be too low to define someone as poor.
Daily Median Income Doubled (2001 to 2017)
For most Americans, the median worldwide income of $7.60 per day (or $2,774/year) for the 2019 year probably is much lower than what the typical American earns. Yet, the years preceding 2019 had much lower annual income estimates for the years between 2001 and 2017 as shared below:
The daily income per person was closer to $3 back in 2001.
Sixteen years later in 2017, the daily income doubled to $6.50.
Almost 85% of the world’s population lived on just $30 per day ($10,950/year) in 2017.
An estimated 65% of people lived on $10 per day ($3,650/year).
Approximately 10% lived on less than $1.90 per day ($693.50/year).
Unless you’re close friends with billionaires, the odds are quite high that a high percentage of your friends and family created the bulk of their overall net worth from investing in real estate over several years or decades. Your friend might’ve first purchased their home on their own with 100% financing or it was passed down to them from their parents or grandparents over one or two generations.
One of our greatest fears is that we may run out of savings or not have sufficient amounts of monthly income to cover our expenses. For most people here in the U.S. and across the world, they have probably run out of money at some point in their lives whether they were young teenagers or older retirees.
Running out of money during one’s retirement years is truly one of the scariest situations for an increasing number of older Americans. As shared by the Pew Research Center and Forbes, the fastest-growing demographic for U.S. workers entering (not exiting) the workforce in 2024 were people over the age of 75 because their Social Security and pension (if available) income was not sufficient enough to cover their rising monthly expenses.
A recent study completed by Visual Capitalist found that there was $123 trillion dollars’ worth of cash, savings, time deposits, and money market funds in 2024 that’s described as the Global M2 Money Supply. If the $123 trillion in cash or cash-like instruments were shared equally as savings for the estimated eight billion people living today, it would amount to $15,000 for every person on the planet.
If you earn $3 per day in income while only spending $2 per day, you’re net ahead each day. However, if you earn $15,000 per month and spend $16,000 per month, you’re struggling and likely to eventually run out of cash savings.
The Top 10 Most Challenging Retirement States
Listed below is a detailed analysis created by GOBanking Rates and shared by CNBC that shows how quickly $1 million dollars’ worth of retirement savings plus Social Security income can be depleted anywhere between 12 and 27 years for the Top 10 most expensive states.
However, this report completely excluded federal and state income taxes from this analysis (California’s highest state income tax rate is 13.3% and Hawaii’s is 11%), so it’s more likely that residents will spend their money at a faster pace due to taxes and future rising inflation rates.
Here are the 10 states where $1 million runs out the fastest in retirement:
1. Hawaii Monthly expenses: $2,761 Annual cost after Social Security: $80,125 Years $1 million lasts: 12
2. California Monthly expenses: $2,269 Annual cost after Social Security: $61,406 Years $1 million lasts: 16
3. Massachusetts Monthly expenses: $2,340 Annual cost after Social Security: $51,686 Years $1 million lasts: 19
4. Washington Monthly expenses: $2,096 Annual cost after Social Security: $45,629 Years $1 million lasts: 22
5. New Jersey Monthly expenses: $2,001 Annual cost after Social Security: $41,315 Years $1 million lasts: 24
6. Colorado Monthly expenses: $1,899 Annual cost after Social Security: $39,759 Years $1 million lasts: 25
7. New Hampshire Monthly expenses: $2,081 Annual cost after Social Security: $38,052 Years $1 million lasts: 26
8. Utah Monthly expenses: $1,876 Annual cost after Social Security: $37,060 Years $1 million lasts: 26
9. Oregon Monthly expenses: $2,017 Annual cost after Social Security: $37,346 Years $1 million lasts: 27
10. Rhode Island Monthly expenses: $2,113 Annual cost after Social Security: $36,920 Years $1 million lasts: 27
By contrast, $1 million in retirement savings plus Social Security should last at least 30 years in 36 other states, as per this same GOBankingRates report.
You’re likely to run out of cash if the bulk of your investments are held as cash, ironically. How is this seemingly contradictory statement true or not?
Every single year, the dollars in your pocket get weaker and weaker due to inflation. For example, it’s been claimed that $1 in 1913 when the Federal Reserve was formed is now worth closer to 2 or 3 cents today after 112 years’ worth of inflation continually weakening our dollar.
I’ve described real estate as an exceptional hedge against inflation for several decades. This is because home values tend to rise at least as high as the published historical inflation rates. Yet, this description does not give real estate enough credit for how much higher homes have appreciated as compared with inflation.
For example, U.S. home prices between 1950 and 2024, when adjusted for inflation, more than doubled the annual published rate of inflation in every single state in America, according to Brilliant Maps. From a low of a 107% home value gain as compared to inflation in Ohio to a high of a 675% home gain in Alaska, the investment returns for property owners were quite impressive.
The creation of multiple income streams, whether it be from one, two, three, or four jobs or part-time gigs, rental properties, discounted mortgage or note investments, stocks, bonds, or insurance investments, or other sources, is what you should invest your time and energy on each day or week. The future version of you will later thank you for starting your investing strategies sooner rather than later.
If you earn $5 per day or $5,000 per day, you should focus on your daily expenses as well. Are you still earning more than you spend each day? If not, then please focus on ways to generate one or more additional income streams that may likely originate from real estate one way or another.
Should you be holding a coffee in your hand priced near the daily median worldwide income average of $7.60 and have a roof over your head while reading this article, you’re doing OK and should be grateful as compared with the rest of the world.
Rick Tobin
Rick Tobin has worked in the real estate, financial, investment, and writing fields for the past 30+ years. He’s held eight (8) different real estate, securities, and mortgage brokerage licenses to date and is a graduate of the University of Southern California. He provides creative residential and commercial mortgage solutions for clients across the nation. He’s also written college textbooks and real estate licensing courses in most states for the two largest real estate publishers in the nation; the oldest real estate school in California; and the first online real estate school in California. Please visit his website at Realloans.com for financing options and his new investment group at So-Cal Real Estate Investors for more details.
Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411.com or our Eventbrite landing page, CLICK HERE.
https://www.realestateinvestormagazines.com/wp-content/uploads/2025/03/wealth-distribution.jpg4001000dulcehttp://www.realestateinvestormagazines.com/wp-content/uploads/2013/04/logo.pngdulce2025-03-07 06:15:032025-03-07 06:15:04Wealth Perspectives: A Comparative Worldwide Analysis
EAST COAST TOUR: Elite Dealmakers – Rehab Real Estate Investor Caravan Tour in South New Jersey
Join us for an exclusive in-person event where you’ll get the inside scoop on rehab real estate investing. Our caravan tour will take you to some of the hottest properties on the market, giving you the opportunity to learn from elite dealmakers in the industry.
Whether you’re a seasoned investor or just starting out, this event is perfect for anyone looking to take their real estate game to the next level. Don’t miss out on this unique opportunity to network, learn, and grow your real estate portfolio!
Elite Dealmakers – Rehab Real Estate Investor Caravan Tour
Saturday, March 22nd, 2025
9:00am – 3:00pm
Tour Price:
$20 Early-Bird registration by 12PM Wednesday (03/12) $50 General Registration up until 12PM Friday (03/21)
Includes, Coffee, Continental Breakfast & Lunch
We will have real estate professionals on the tour such as: Asset Based Lender, Licensed Real Estate Agent & Licensed Contractor.
The Onsite Rehabbing Caravan Tour is a truly INVALUABLE part of your real estate education where you will be able to walk through multiple properties under various stages of construction and gain priceless hands-on training.
There will be no VAN, and properties will be given upon registered attendees only that morning.
The Tour will cover neighborhoods in Salem, Cumberland, Gloucester & Atlantic Counties of South Jersey
There is a shift from the familiar order we’ve practiced over a long history into unfamiliar territories, necessitating new learning techniques and strategies such as AI-driven marketing, personalized customer communication (e.g., webinars, zoom meetings, customized emails), speed text messaging, and data-driven decision-making (e.g., predictive analytics, customer segmentation).
Order, customs, traditions, rules, and habits were all considered reliable until now. They have all changed. My expectations have permanently been disrupted…
Developing long-term relationships is confusing in the shuffle … Adapting to these new techniques is necessary in the rapidly evolving marketing landscape. The sooner we embrace these changes, the better equipped we will be to navigate the future of marketing.
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Article:
Historic Shift:
Customs, practices, and order have dramatically shifted to a radically new paradigm. Building relationships, thereby creating social capital, has also shifted. In this new era, friends do business with friends, and reliable relationships have moved because of what we call ‘light-speed differential correspondence,’ a term we use to describe the rapid and varied forms of communication available today. Adapting to these new methods to stay competitive is crucial.
The prevailing approach of solely relying on social media for business or sales outreach will diminish over time. Brief, attention-grabbing messages or sensational content aimed at unknown individuals are expected to lose effectiveness.
I believe there will likely be a shift towards re-emphasizing the importance of building strong relationships as the key strategy for sustainable success.
Expanding business opportunities and fostering new relationships are crucial for personal growth and business success. These elements are the foundation for achieving higher goals and driving business growth.
Most people’s reading habits are different. They watch and listen to podcasts focused on digital audio and video files available for downloading or streaming. They don’t seem to answer their phones like they used to, and they do not always respond to emails for marketing purposes or precisely targeted communication about a subject such as a transaction. But one thing is sure: everywhere they go, they look down at their phones so attentively that they miss everything around them.
The most effective marketing tool today is texting prospects, short and to the point, which necessitates obtaining phone numbers rather than email addresses. However, the process must be done individually, with some personalization rather than a mass text software package. Virtual assistants like Siri and Alexa can draft and send personalized messages and reminders, making them valuable tools in this approach.
We may first call, leave a message when they do not answer, or follow up with an email or text message. Siri, text Archie Bunker. Archie, I am just checking with you to see if you need any ____________________?
Things change, and disruptions occur, both personally and in business. Technology, such as AI and data analytics, plays a significant role in modifying our marketing output by providing insights into consumer behavior and market trends. These technological disruptions necessitate our adaptation to stay competitive in the market, highlighting the importance of staying ahead of the curve in our field.
• Artificial Intelligence (AI) • Automatic Language (AL) • Search Engine Optimization (SEO) • Search engine algorithms • Search engine Crawling, spiders, robots, or Google bots.
This is not precisely shaking hands with 500 people, becoming friends, hanging out together, and doing business as usual. Still, it is somewhat data-driven, magnifying or leveraging performance through algorithmic data management.
Lost in the dynamics of changing methods:
The challenges in real estate sales and lending are unique. The market is volatile, and success often depends on factors beyond our control. When business opportunities deteriorate, what do frustrated salespeople do? They may be tempted to perpetuate a losing strategy, which includes working from home, focusing on distracting activities, only taking inbound messages, selectively returning calls, and engaging in what today is called quiet quitting. Quiet quitting is a term used to describe a situation where a person does not outright quit their job but regularly shuffles their daily activities to avoid stressful confrontations, outbound calls, and sales rejections. Instead of focusing on business-related tasks, they may spend their time on social media, take extended breaks, or commiserate with others about work-related issues.
Quitting, also known as the Great Resignation and the Great Reshuffle, is an economic trend in which employees are dissatisfied with their jobs but find a way to avoid action by essentially living off their employers’ payrolls and becoming common parasites. The Great Resignation and the Great Reshuffle refer to the significant number of employees choosing to leave their jobs or change careers due to dissatisfaction with their current work situations.
How about a very inexpensive gadget, a mouse jiggler, that artificially simulates keyboard activity and mouse movement, creating the impression of computer work? Some who work remotely have attempted to outsmart their management while engaging in fake work activity. These individuals, known as ‘parasitic quiet quitters,’ exploit their employers by engaging in fraudulent activities to avoid real work. For example, they might use the mouse jiggler to make it seem like they are working when they are not. Management may use productivity monitoring software as a surveillance mechanism to ensure compliance with company work requirements. The parasitic quiet quitter is actively engaged in fraud, which can lead to significant losses for the company.
Dynamic change:
Reading is a powerful tool that can disrupt the ill-informed. But, as Mark Twain aptly said, “If you don’t read the newspaper, you are uninformed; if you read the newspaper, you are ill-informed.” This underscores the crucial role of seeking out reliable sources of information to stay empowered and knowledgeable in the face of change. Truth in the news is generally only found through alternative media.
Many of our activities are so fast that we cannot keep up and, therefore, have limited time for relationship-building. Much of our work function is now modified to rely on technology, replacing face-to-face and telephone correspondence.
Automatic Language (AL) is an advanced technology that analyzes text inputs, recognizes patterns, and classifies text into natural language processing algorithms. In marketing, AL is advancing the human interface and communication with machines and computer systems, enabling more efficient and personalized customer communication. This technology is revolutionizing how we interact with customers and is a key trend in marketing.
Eventually, AL will drive most of our marketing activities. Analytics and algorithms will drive everything from search engines to service searches, identifying our unique abilities based on our participation in the tech system.
The accelerating speed of change is upon us, and we have permanently said goodbye to the old methods. At best, we can gain the attention of prospects for microseconds or a minute to see if they are interested in our services, which is a difficult task but doable. We can embrace and adopt change willingly or be left in the dust of history alongside the Rolodex client file system and the business lunch. For those who do not remember Rolodex, it was a desktop card index system on a round rotating spindle with removable cards attached. The salesperson would record client information indexed from A to Z.
Future companies may have only five employees, but they operate like a 50-person company 20-30 years ago.
There is a shift to the free-agent nation, where we are independent, and mobility is paramount to success.
Herein lies the need for an executive administrative assistant, independent contractor staffing, and high-tech independent contractors locally or from around the world (somewhere) who can work magic in the tech-driven marketing and follow-up process.
What will not change is the 80/20 rule. 80% of a salesperson’s or organization’s activities contribute 20% of the results? This powerful insight can be applied to various aspects of our lives. For instance, in personal productivity, you can identify and focus on 20% of tasks that yield 80% of your results. In sales and business management, you can identify the 20% of customers that generate 80% of your revenue. The new tools available can ignite our motivation and drive for success, inspiring us to maximize our efforts and achieve more.
https://www.realestateinvestormagazines.com/wp-content/uploads/2025/03/marketing-plan.jpg4001000dulcehttp://www.realestateinvestormagazines.com/wp-content/uploads/2013/04/logo.pngdulce2025-03-05 03:04:292025-03-06 09:51:09Self-promotion & Personal Branding Techniques Have Dramatically Changed
Like many other investment vehicles, real estate provides an opportunity for investors to generate long-term income and increase their net worth. A major benefit of real estate is that there are many different ways to invest in real estate. You can choose a strategy that best aligns with your goals and risk tolerance and still have an opportunity to succeed. By knowing several strategies for investing in real estate, you too can be prepared to create abundance for yourself and your family.
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Single Family Residential
Single-family refers to a stand-alone house or a free-standing residential building. Think about your typical home or apartment. Oftentimes in real estate, there is a large focus on owning multifamily homes. Single-family investing can be a strong strategy for many for several reasons.
Single-family homes offer higher rental prices. Usually, people are willing to pay a little more for privacy and space. Single-family homes and apartments offer both. Also, tenants tend to stay longer over time in single-family houses. Maintaining a long-term paying tenant is very beneficial for landlords. Tenant turnover can become costly and requires work. Also, for new investors, single-family homes have a lower barrier of entry and is a great place to start.
Multifamily Residential
Multifamily residential is a classification of housing where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex. Units are typically next to each other or stacked on top of each other. An example of a multifamily is an apartment building. Multifamily residential is different from multifamily commercial. The difference comes down to the number of units within the multifamily property. Residential is classified as 2-4 units while commercial has 5 plus.
There are many reasons to invest in multifamily residential. Typically, there is increased cash flow. More units equal more rent for the landlord. Also, because we are talking about multifamily residential, this still qualifies for residential-style loans which are more affordable. Finally, multifamily residential is also easier to manage.
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Wholesaling
Wholesaling in real estate is when you as the wholesaler contract home with a seller and then find an interested party to buy it. Essentially the wholesaler contracts the home with a buyer at a higher price than with the seller and you get to keep the difference.
This is a great strategy to involve very little to no money of your own. wholesalers need to find motivated sellers and put the property under contract. By leveraging a network you develop of buyers, you can create a system for finding other real estate investors to assign the contract to.
Fix-and-Flip
One of the most commonly known forms of real estate investing, fix, and flip presents itself as a good opportunity for investors that are willing to get their hands dirty. The upside can be very rewarding as you can net thousands of dollars on a single deal. Real estate flippers have built successful businesses around this model. If you are hands-on and have the ability to make repairs to a home, then fix and flip may be a good place for you to start.
Joe Arias
Joe Arias and his partners have flipped hundreds of properties in the Southern California Region. He has developed cutting-edge systems to simplify and scale the entire remodel process that can easily be applied to flipping, rentals, wholesaling, and other passive income strategies. More recently, Joe founded a real estate investing education company called RealSuccess Investments, allowing him to share his tools and systems with hundreds of up-and-coming investors.
RealSuccess is focused on education on flipping, rentals, passive income, and wholesaling.
Joe is also a best-selling author. He has written 4 books: Finding your RealSuccess, First Steps to Flipping,R stands for RentalsandRetirement, and Wholesaling Real Estate.
“I came from Argentina when I was 20, I am 40 years old now. I didn’t know anyone. If I can do it, anyone can.”
From a young Latino immigrant to a celebrated real estate investor, Joe is a true testament to hard work and discipline. As an investor, he has made it his mission to help others achieve financial freedom while enjoying living a life of passion, fulfillment, and empowerment.
Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.
As we enter 2025, identifying the best rental property markets remains a top priority for real estate investors. Whether you’re a seasoned professional expanding your portfolio or a homeowner with a low 2-3% interest rate considering turning your property into a rental, thoroughly evaluating a market is essential to maximizing your investment potential.
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Promising Rental Property Markets
Certain areas in the U.S. are positioned for strong rental demand in 2025, driven by population growth, employment opportunities, and housing shortages. Here are a few regions worth considering:
1. Southeast Metro Areas
Cities like Charlotte, NC; Tampa, FL; and Raleigh, NC, continue to thrive. Strong job markets, affordable living costs, and an influx of new residents make these cities a prime choice for investors seeking both growth and stability.
2. Booming Sun Belt Locations
With their pro-business climates, states like Texas and Arizona remain popular. Cities such as Austin and Phoenix offer dynamic job markets, consistent population growth, and rental demand fueled by both local and relocating residents.
3. Affordable Midwest Markets
For investors prioritizing cash flow, markets like Kansas City, MO, and Indianapolis, IN, stand out. These cities combine affordable property prices with above-average rental yields, making them ideal for steady income-focused investments.
4. Suburban Growth Areas
Suburban markets near major urban centers—such as the Denver, CO, and Nashville, TN, suburbs—continue to attract tenants looking for space and affordability without sacrificing access to city amenities.
How to Evaluate a Market for Investment
Successful property investments rely on understanding a market’s potential through key evaluation criteria. Our franchise offices leverage our proprietary Wealth Optimizer Portfolio tool to help investors analyze opportunities using four core principles of real estate investing, truly providing a data-driven and strategic approach to decision-making.
1. Cash Flow
While positive cash flow is important for immediate financial stability, it’s not always the sole indicator of a strong investment. Investors should also consider long-term factors such as appreciation potential, tax benefits, and equity growth, as these can often outweigh short-term cash flow when building sustainable wealth over time.
2. Appreciation Potential
One of the unique advantages of real estate investing is leveraging borrowed funds to purchase property. Since investors typically finance a significant portion of the purchase price, the appreciation occurs on the full value of the property—not just the amount personally invested. This leverage amplifies the wealth-generating power of real estate, making it a cornerstone of long-term financial growth.
3. Tax Benefits
Identifying potential tax advantages early in the decision-making process can significantly impact an investment’s overall appeal, especially when comparing real estate to other asset classes. Deductions for depreciation, property expenses, and mortgage interest can enhance returns and make real estate a uniquely tax-efficient investment vehicle.
4. Debt Paydown
Leveraging tenant payments to reduce your mortgage is a critical wealth-building strategy. Over time, this process increases equity and strengthens your financial position. We are also able to help investors see how freeing up credit over time will allow them to grow their real estate portfolio.
Tips for Market Evaluation
1. Study Demographics and Trends: Look at population growth, employment rates, and housing demand to identify stable markets.
2. Compare Properties Side by Side: Use tools and resources to analyze potential investments, weighing factors like cash flow, appreciation, and expenses.
3. Focus on Sustainability: Select markets and properties that align with long-term goals, rather than chasing short-term gains.
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Investing for All Experience Levels
Property investors come in many forms, from experienced professionals to accidental investors—those who inherit a property or turn a former residence into a rental. Regardless of experience level, the fundamentals of evaluating markets and properties remain the same. Thoughtful analysis, paired with the right tools and support, ensures decisions are grounded in data and aligned with personal financial goals.
As 2025 begins, the real estate landscape is full of opportunities for those prepared to evaluate markets strategically. Our Wealth Optimizer Portfolio tool allows us to help clients focus on fundamentals and understand key market drivers so they can position themselves for success and capitalize on all four pillars of real estate investing.
Mike Steward joined Real Property Management in 2021 with more than 18 years of business ownership, including real estate, property management, and construction. He was President and COO of a Sotheby’s International Realty franchise, where he was also a founder and equity partner.
As Vice President of Real Estate Sales, Mike and his team help Real Property Management offices increase market share, grow door count, and reduce churn by utilizing in-house sales training and the proprietary Wealth Optimizer Portfolio tool to guide and inspire franchise owners on systems to grow their businesses.
Mike received his bachelor’s degree from the University of South Alabama in human resources and marketing. Mike is a Certified Business and Life Coach in addition to being a multi-state licensed Real Estate Broker.
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Discover the Latest Insight, News, and REI Strategies at Realty411’s Sail to Success Summit in Southern California
Network with Sophisticated Investors from Across the State and Nation at the Shoreline Yacht Club
It’s time to unite at Realty411’s SAIL TO SUCCESS SUMMIT in Southern California. Join us to dive into real estate investing strategies with experienced real-estate investors who have personally invested both locally and throughout the United States, some even own property internationally.
Our featured educators have decades of personal experience in real estate investing and many are licensed realty professionals. Enjoy networking with companies in an indoor and outdoor setting at the Shoreline Yacht Club in Long Beach, California.
DOORS NOW OPEN AT 9:00 AM Learning & Networking Until 4:00 PM
Learn from Top Educators with All-New Presentations for 2025, Including:
Eddie Speed, Founder – Note School “Unlock the Wealth: Note Cycle Mastery Over Rental Market Uncertainties”
Rusty Tweed, CEO – TFS Properties “1031 Exchanges & The State of the Economy Right Now in California”
Rick Tobin, Founder – Real Loans “Firestorms, Floods, Record Debt & All-Time Home Price Peaks”
Jeremy Rubin – CEO, The Friendly Flipper “Learn How to Position Yourself to Maximize Your REI Opportunities”
Paul Finck, CEO – The Maverick Millionaire ® “Skyrocket your income and negotiation skills with proven strategies to help propel your real estate portfolio”
Ken Letourneau, Founder – The Tax Sale Master Learn About Tax Sales: Tax Lien & Tax Deed Investing Insight
Network with Exhibitors – Indoors & Outdoors, Including:
ELUX Homes – New Construction Rental Properties with Special Financing
Mid South Turnkey – Learn About the Memphis Rental Market
New Harvest Ventures – Experts in Local Rehabbing, Construction, Listings
Approved Inheritance Cash – Learn About Probate Investing
Learn to add Value to Your Home with an ADU – Turn your backyard into a long-term or short-term rental unit with Griham Living
Discover Real Estate OFF MARKET Deals Perfect for Rentals, Flip or BRRRR — Meet Turnkey Providers and Property Managers
Speak to Mortgage Brokers, Private Lenders & Finance Experts:
Amanda Hart, Account Executive, Easy Street Capital
Eric Tran, CEO, Universal Commercial Capital
Rick Tobin, Broker / CEO, Real Loans & More!
Fund Your Deals and Learn About the Latest Terms / Rates Here
AND SO MUCH MORE! Doors Open at 9:00 AM until 4 PM – Multiple areas are available for maximum networking throughout the day.
Connect with wonderful companies and their teams! Network with sophisticated and accredited investors from throughout the state of California as well as nationwide. If you are serious about personal finance, creating wealth and leaving an incredible legacy for loved ones, join us to learn about top markets, success strategies, private lending, insider tips, and so much more.
REALTY411 & REI WEALTH FRIENDS, JOIN US FOR A VIP EVENT: Enjoy amazing water-front networking in multiple rooms and wonderful REI education! All guests will enjoy a variety of succulent appetizers, fantastic education, wonderful networking opportunities, plus access to top REI resources from leading companies. All guests will also receive a cocktail ticket to enjoy a Special Summit drink.
A full cash bar is also available in the Lounge of the Yacht Club, which is open for individual networking all day throughout the event. Multiple indoor and outdoor areas are available for making connections. Enjoy fantastic views of the dock from the outdoor patio as you exchange business cards with sophisticated investors and top companies from across the nation.
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Kerr-McGee has Met Operational Milestones Required by the Town to Plug 57 Wells
Submitted by Paul Suter
Firestone, CO (February 2025) — The Town of Firestone is proud to announce that it has received a $4,000,000 payment from oil and gas operator Kerr-McGee based on a Cooperative Development Plan agreement that was approved in October 2023.
In the agreement, the Town of Firestone granted right-of-way access permits and entered into certain license agreements and in return received beneficial returns from Kerr-McGee, including:
A one-time cash payment of $4 million to the Town of Firestone
A land donation of 78 acres to the Town of Firestone
Specific operational standards to mitigate impacts to residents around the operations and within the Town of Firestone
The commitment to plug and abandon 57 wells within the Town of Firestone boundaries.
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Because Kerr-McGee has met certain operational milestones, the one-time cash payment has been delivered, and the land donation is complete. In addition, the plug and abandoning process of the 57 wells is ongoing.
The Town of Firestone strongly believes in collaborating with its energy partners. A cooperative relationship and a balanced approach is best for the Firestone community.
“In Firestone, we take pride in working simultaneously to protect residents’ health and safety while also respecting private property rights. We believe that a cooperative, mutually beneficial approach is the right balance to strike for agreements that have lasting value for all parties”, remarked Town Manager A.J. Krieger. “By working collaboratively with Kerr-McGee, we’ve reached an agreement that respects not only their right to drill and produce but also recognizes how important domestic energy production is to our Country.” “This agreement will help the Town advance several critical initiatives, including getting dozens of older wells plugged and abandoned and reclaiming acreage in Central Park, which will significantly benefit our development plans there,” he continued.
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Krieger added, “Personally and professionally, I’ve always felt that working to achieve mutually beneficial outcomes is the best approach. This is just the latest example of the Town of Firestone acting strategically to enhance important partnerships and secure great benefits for our community”.
More information regarding the Town of Firestone is available at www.firestoneco.gov.
https://www.realestateinvestormagazines.com/wp-content/uploads/2025/02/gas-and-oil-equipment.jpg4001000dulcehttp://www.realestateinvestormagazines.com/wp-content/uploads/2013/04/logo.pngdulce2025-02-17 03:01:402025-02-17 03:01:41The Town of Firestone Receives $4,000,000 Payment from Oil and Gas Partner
Homeowners and landlord insurance policies are akin to your “safety net” that protects your investment from numerous types of disaster, crime, or “bad luck” situations like a faulty electrical outlet that explodes after too many electronics were plugged into it.
Directly or indirectly, your insurance payouts may be coming from pooled insurance company funds with or without government-backing whether you’re aware of it or not.
Because most American homeowners have the bulk of their net worth tied up in their primary home where they reside, it’s quite important to make sure that you have sufficient amounts of insurance protection in place for any sort of negative situation that could damage your property.
Mortgage companies require that property owners maintain insurance policies on the subject property that protects both the owners and lenders. Any loss of sufficient amounts of insurance coverage protection can be akin to a mortgage default that triggers future foreclosure actions.
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The Pooled California FAIR Plan
To simplify, an insurance “pool” shares or spreads out the risk amongst numerous insurance companies. This way in theory at least, one major catastrophe like a firestorm, hurricane, or massive flooding situation doesn’t financially wipe out one insurance company that took on the bulk of the financial risk for a specific region.
Here in California, the FAIR (Fair Access to Insurance Requirements) Plan is considered to be the “insurer of last resort” for property owners who cannot find other forms of insurance.
The FAIR Plan is an insurance pool, which originates from numerous California-licensed insurance companies, that allows high-risk homeowners or investors to gain access to basic fire insurance protection options while limiting any one insurer from having too much liability. Here in 2025, a high percentage of the state of California is now considered “high-risk” as more people are forced to only choose from the much more expensive FAIR Plan.
The FAIR Plan was first created back in 1968 by the California Department of Insurance (CDI). While the FAIR Plan was originally created by the CDI agency and is often described as “state-mandated” property insurance, it’s actually owned and managed by many of the same private insurers who already turned down the property owners before in a much larger giant “pool” of insurance funds.
Insurance Payout Limits
The FAIR Plan caps, or has an upper ceiling limit for claims, for insurance payouts for natural disasters at $3 million for policyholders, according to ABC News. Average home listing prices in Pacific Palisades were closer to $4 million dollars back in December 2024 before the massive firestorm hit.
The rebuilding process, which includes numerous permit fees, could reach as high as $800 to $1,000 per square foot to rebuild according to some estimates. If so, a 3,000 square foot home to rebuild may cost as much as $3 million dollars ($3,000 sq. ft. x $1,000/sq. ft.).
There are several properties located in the Palisades that are valued at tens of millions. How will these FAIR Plan insurance payout caps impact the rebuilding process if the cost far exceeds the $3 million dollar limit?
A Trillion Dollars’ Worth of Damage
Just over the past 12 months alone across the nation, there has probably been more than one trillion dollars’ worth of damage from firestorms, hurricanes, and floods in California, Texas, Florida, North Carolina, and other states. At some point, the bailout funds may run dry from either insurance companies or government agencies.
There’s potentially several hundred billion dollars’ worth of property damage in just Los Angeles County alone from the recent firestorm in January that hit Pacific Palisades and Eaton in Altadena, California particularly hard.
While the Palisades, my former hometown for a decade, got the most national publicity with approximately 6,800 properties destroyed, it was Eaton, near Pasadena, that had even more properties destroyed with an estimated 9,400 properties. Just in these two regions alone, there were more than 16,200 properties severely damaged or completely destroyed.
By comparison, the Los Angeles Riots of 1992, following the Rodney King court verdict, caused $1 billion in property damage at 1,100 property locations.
Insurance Rate Hikes
We’ve all seen significant insurance rate hikes across the nation in recent years, especially in states like Florida where some basic homeowners insurance policy premiums for average-priced homes are near $1,000 per month.
State Farm, the largest homeowners insurance company in California, did cancel upwards of 1,600 homeowners insurance policies in Pacific Palisades on or before July 2024, as reported by CBS News. This was just six months before the horrific firestorm hit this beautiful Palisades region.
However, State Farm, and probably most other insurance companies in California and elsewhere, is suddenly starting to request “emergency rate hikes” to cover their financial losses. The premium rate hike request from State Farm to California state officials is near +22% for homeowners insurance and up to as high as +38% for renter’s insurance.
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Are Your Pools and Agencies Liquid or Not?
Water causes more home damage each year than anything else. As such, water effectively floods the insurance pools more than anything else in spite of firestorms getting more recent national coverage.
Will your insurance or a separate government agency cover your financial losses? Who is more financially solvent these days – the insurance agency or the homeowner?
The “liquid” term when used in finance translates as being flush with cash. Conversely, illiquid means that a person or entity doesn’t have much access to available cash that’s fairly easy to access.
Let’s take a closer about how financially insolvent insurance or government agencies are these days:
FEMA (Federal Emergency Management Agency) is technically insolvent or broke, as per FEMA themselves. The National Flood Insurance Program (NFIP – managed by FEMA) was described as being more than $20 billion in debt in January 2024 at a panel hearing held by the U.S. Senate Banking, Housing and Urban Affairs Committee.
“The Small Business Administration’s (SBA) disaster assistance loan program is out of money after hurricanes Helene and Milton struck parts of the U.S., the agency has announced.”- ZeroHedge
The Citizens Property Insurance Corporation is described as the “last” option for insurance within the state of Florida. However, Citizens was also described by many as being out of money before Hurricanes Helene and Milton reached the Florida shores.
California’s own “insurer of last resort” named the FAIR Plan had upwards of $336 billion of property exposure a year ago with just a cash surplus between $300 and $700 million, as per the California Assembly Insurance Oversight Committee. L.A. County fires might cost $30 to $50 billion for the FAIR Plan.
Hurricane Helene and Milton might’ve caused more than $200 billion dollars’ worth of damage in Florida, North Carolina, and elsewhere, according to The Real Deal.
Who will bail out FEMA first so that FEMA can bail out the National Flood Insurance Program, Citizens, SBA, FAIR Plan, and others? Please note that only 1% to 6% of U.S. homeowners (under 2% in California) have flood insurance coverage protection. If flooded without flood insurance, the homeowners are likely to receive nothing, sadly.
Will Underwater Homes Soon Follow?
There were more than 70,000 homes damaged or completely destroyed by the devastating floods from just Hurricane Helene in North Carolina a few months ago. Some other estimates are as high as 125,000 damaged homes in North Carolina.
In numerous states across the nation over the past year, the number of damaged or destroyed homes from fires, floods, or wind damage probably number somewhere in the few hundred thousand range. A rather large number of these properties either had no insurance in place or not enough coverage protection.
Many insurers also are completely denying insurance coverage payout claims from distressed property owners for a wide variety of reasons. As a result, many homeowners, landlords, tenants, and commercial property owners will just walk away from their property and mortgage obligations. If so, these future foreclosures become sales comparables for the homes that did survive.
At some point, the future home values will start to fall and more homeowners will be living in figurative “underwater” homes where the mortgage debt far exceeds the current market value.
Should you, your family, or friends be in challenging situations like any of these shared scenarios, please research as many different potential solutions as possible and reach out to local knowledgeable third-party advisors to minimize your losses and to maximize your gains.
Rick Tobin
Rick Tobin has worked in the real estate, financial, investment, and writing fields for the past 30+ years. He’s held eight (8) different real estate, securities, and mortgage brokerage licenses to date and is a graduate of the University of Southern California. He provides creative residential and commercial mortgage solutions for clients across the nation. He’s also written college textbooks and real estate licensing courses in most states for the two largest real estate publishers in the nation; the oldest real estate school in California; and the first online real estate school in California. Please visit his website at Realloans.com for financing options and his new investment group at So-Cal Real Estate Investors for more details.
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Success comes from the implementation of preplanned strategies turned into action habits…
Successful strategies, such as offering personalized solutions like tailored loan packages or exceptional customer service, often involve going against the grain and doing what others don’t.
These action habits, which are consistent and deliberate actions that lead to desired outcomes, must be laced with tenacity…
There will be successes, setbacks, frustrations, gained momentum, effective use of time to maximize productivity, and hopefully, many paychecks.
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Introduction:
For loan salespeople, the strategies outlined here are not just concepts but crucial stepping stones to personal and financial growth. They are the key to achieving our career and financial success goals, inspiring us to reach new heights.
These strategies are not a one-time fix. They demand unwavering commitment and consistency from you. By establishing procedures to develop a marketing program, structuring daily action habits, and consistently executing the strategies, you can pave the path to success. Committing to the plan is the key to achieving these goals.
Components of a new strategy:
Assess one’s attitude and willingness to change.
Recognize the need to develop entirely new behavior patterns.
Be willing to form and commit to new action habits.
Commit to constructing a unique marketing system.
Set up appropriate software and databases that help consistently market daily, weekly, and monthly programs.
Consistent follow-through is the key.
Execute the strategy aggressively and show tenacity by sticking with the plan.
Commit and follow through. Have a coach, friend, or loved one hold us accountable. Report our progress and solicit feedback.
Time is not just a commodity; it’s a precious, limited resource that, once gone or wasted, is gone forever. We have the choice of how to use it. Effective or ineffective time utilization is always a choice and a design. By mastering the art of time management, we can take control of our lives, feel empowered, and confidently work towards achieving our goals. In the context of loan sales, effective time utilization can mean the difference between closing a deal and losing a potential client.
Effective use of time applies almost universally whether folks organize their daily tasks, manage family activities, plan social events, plan special occasions, shop for a date or someone to marry, or engage in an actual money-profit-generating enterprise. For a loan salesperson, effective use of time could mean prioritizing follow-ups with potential clients, conducting thorough research on the market, or attending networking events to expand their client base.
Resources designed to magnify the value of time effectiveness have become a combination of motivation and technology-driven, including software programs, online databases, and sufficient hardware. These resources are tools and our support systems on the journey toward success. There are more brilliant programs than anyone would ever dream possible. The same applies to implementation, training, and daily execution. Learning to perform well with a horse and a saddle still requires good training and daily practice. With these resources, we are empowered and equipped to take control of our success.
Structured planning breeds individualism, personal happiness, and sovereignty, improving civil society for future generations. Success also serves as an example for friends, associates, kids, and family. It is a great motivator and the best revenge for those who doubt us. It’s about achieving financial success and finding personal happiness and sovereignty in our journey, inspiring those around us, and contributing to a better future.
A platform for change:
A written action plan is not just a piece of paper. It’s a practical roadmap to our success. It contains a daily list of activities, prioritizes their importance, and schedules each personal and professional goal. For example, a loan agent who solicits prospective borrowers for financing—usually a loan secured by real property—should have a preplanned written daily action plan and outbound call system with a weekly activity schedule. Following this plan can bring a sense of accomplishment and keep you motivated.
The loan agent or other salesperson has multiple tasks:
Identify a qualified lead.
Pursue getting an appointment.
Make a sales presentation.
Explain the benefits.
Answer questions.
Handle the objections.
Ask for the order (closing)
Close the transaction.
Or repeat 2 through 6 again.
Motivation to produce many closed loan transactions to satisfy customers, employers, and oneself is necessary to earn commissions and sustain a decent standard of living for one’s family. It’s important to remember that while professional success is crucial, maintaining a healthy work-life balance is equally significant. This balance ensures that we succeed in our careers and personal lives, providing a sense of reassurance and support.
Suggestions for creating an action plan.
• Define your ‘universe of possibilities, ‘which is the total of all potential leads combined in your network and the other professionals, such as real estate agents, financial advisors, and attorneys, who correspondingly have their network. This number represents the maximum potential leads you can tap into and is crucial for setting realistic sales targets. • How many prospects can I manage to contact daily and weekly? • How frequently should I follow up with prospects? Is the answer 30, 60, 90, or more days? • Do I have a written script for verbal conversations and email marketing? (The language ‘script’ may be formal or informal based on your product, personality, and past relationship with the person). • Ask questions and allow people to talk about themselves, their feelings, and their families. This can go a long way to establishing a lasting relationship. The answers also help you build a history. • Do I have a formalized written marketing plan? (This plan should outline your target audience, marketing channels, and specific strategies for each channel, helping you stay focused and organized in your marketing efforts). • What action habits should be expected daily, weekly, and monthly? When consistently practiced, these habits can lead to significant progress and success in your career. For example, daily habits could include reviewing your active leads and planning your day, weekly habits could involve reaching out to a certain number of prospects, and monthly habits could consist of evaluating your overall performance and adjusting your strategies accordingly. • Do I start each morning by organizing my day, reviewing my active leads, and focusing on transactions nearest completion? • Am I prioritizing the follow-up of my daily active leads? The highest-quality leads get priority. (Active leads are those who have shown interest, such as those who have requested more information or expressed a desire to move forward and are more likely to convert, so they should be given more attention in your follow-up strategy.)
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• Will I practice great tenacity in daily follow-ups of active leads (this concept is critical)? Tenacity here means persistent and determined follow-ups crucial for converting leads into sales. It’s not just about making the initial contact but about consistently following up to keep your product or service in mind for the prospect. • Am I well-focused on being present or “out there” while communicating with others? I will convey energy, focus, and determination. I will execute my plans to the best of my abilities, ensuring every interaction is meaningful and productive. • My responsibility is to assist the customers in making the best decisions for their financial needs. • Professionally, completing transactions is our responsibility. Fiduciary duty, which is the legal obligation to act in your client’s best interests, is ever-present. • How many real estate, loans, or other completed tasks are my goals to be closed monthly? • An envisioned and crystalized amount of gross revenue anticipated to gain for a specified period, such as a month or a quarter—could prove extremely helpful. • Am I working effectively with co-workers, superiors, subordinates, and independent contractor vendors with mutual respect and dignity and understood objectives to close the transactions? • Do I have the best office technology, phone technology, email marketing systems, customer relations management system (CRM), network marketing, and industry-specific software to do the most professional job? • Do the people around me, including support staff and other kindred folks, share my values about business, loyalty, relationships, and customer follow-up? Surrounding yourself with like-minded individuals who share your values can provide community and support, enhancing your journey towards success. • Do I associate with others with kindred values who share my desire for success, self-motivation, and tenacity? Surrounding yourself with self-motivated and tenacious individuals can be inspiring and help fuel your determination to succeed.
A suggested action-filled daily work schedule.
Start time: 9 am to 4:30 pm- Monday through Friday.
Maximum performance may require additional hours, some evenings and weekends. Prolonged physical and mental effort requires breaks for physical and psychological sustainability. And one should take occasional breaks away from all the everyday stresses. Daily walks in the sunshine will work wonders for energy, focus, and stamina. Walk a dog or call a friend while “frolicking in the “forest.”
Many believe that input of effort and output of results create equal corresponding or equal results. In other words, input and output correspond. The common assumption by many is to expect the same results from each hour of active work. Suppose you are an hourly wage earner at a fast-food establishment. That’s how it works- but technology has changed that. But that is not how success works in most profit-making enterprises. Input and output rarely correspond. The results created from efforts may be leveraged by gaining additional knowledge and proper technical tools so that creation and production are geometrically higher. Identify those tools.
Wow, this worked; I bet I can do better.! We cannot motivate individuals to achieve. They must develop and internalize the desire and motivation on their own. Sometimes, learning to improve becomes a passion through modified and leveraging processes. Repeated successes always bring confidence.
Thousands of brilliant individuals could achieve more if motivated and their time management and daily action habits changed.
The success of one’s action plan varies depending on one’s circumstances and stated goals. The preacher, teacher, psychologist, company manager, supervisor, clerk, bookkeeper, accountant, a prisoner in a confined environment, or salesperson relying on commissions have different success priorities. What is most valuable in a time segment for these folks will differ. Each person should construct a platform and assess each minute’s importance, time spent, and results received.
Historical references in explaining why focusing on the most productive actions multiplies the results:
Economists and philosophers have written about the concept known as the 80/20 rule for centuries. • Jean-Baptiste Say (1767-1832) was a French economist who first coined the word entrepreneur.
“The entrepreneur shifts economic resources out of the lower area and into an area of higher productivity and greater yield.”
• In 1896, an Italian economist and sociologist, Vilfredo Pareto, developed the 80/20 rule.
“In any series of elements to be controlled, a selected small fraction of the number of elements always accounts for a large fraction in terms of effect.”
“The Pareto Principle.” was born.
• In 1949, George Zipf, a Philosophy professor at Harvard University, stated:
“The input of resources (people, goods, time, and skills) tends to arrange themselves so that a small portion of resources (20% to 30%) account for a larger corresponding output (70% to 80%) of results.”
• In 1951, Joseph Moses Juran, a management consultant and significant contributor to the quality control revolution, wrote the “Quality Control Handbook.” He renamed the “Pareto Principle,”
“Rule of the Vital Few” and the “Rule of the Trivial Many.”
• In 1957, C. Northcote Parkinson wrote two books, “Parkinson’s Law” and “The Law and the Profits.” His first law was:
“Work will expand to fill the time available for its completion.”
His message concerns wasted time and the expansion of unnecessary bureaucracies in business organizations and governments. When people and institutions spend other people’s money, they have a natural incentive to be inefficient and extend the time for completion. Consuming assets rather than getting results is generally their motive.
“An official wants to multiply subordinates, not rivals.” “Officials do work for each other.” “The number of employees will expand 5-7% per year, irrespective of any variation in the amount of work (if any) to be done.”
To sum up, most of us misallocate our daily activities. While 20% of our activities account for 80% of the results, 80% only achieve 20% of the intended results.
• 20% of loan salespeople produce 80% of the income. • Conversely, 80% of loan salespeople make 20% of the available income. • 20% of the lender companies control 80% of the market share. • 80% of the lender companies control 20% of the market share.
Most companies and bureaucracies allocate 80% of the available resources to the least effective 20% of activities. Bureaucracies such as the government are not motivated by performance or results but by consuming assets, so next year’s budget is equal to or greater than this year’s. They strive for more funding and accumulate more subordinates, no matter how trivial the jobs are. Make-work jobs, or otherwise, constantly grow.
Quality of loan leads:
• 80% of the profits in our loan leads will result from 20% of our lead base. • 20% of the profits in our loan leads will result from 80% of our lead base. • Satisfaction and dissatisfaction are consistent with the 80% -20% rule. • 80% of our happiness comes from 20% of our relationships, both in business and personal lives. • 80% of our dissatisfaction comes from 20% of our relationships, both in business and personal lives.
Eliminate superficial relationships with negative attitudes and repeatedly expressing destructive opinions.
Mutual respect and dignity are necessary ingredients for long-term relationships. That includes respecting the time value of others.
I love critical views from people who have no skin in the game and don’t care. They believe that they are innately intelligent and informed! Their opinions are always without forethought or consideration for anyone else’s views. No other opinions matter: they are the messiahs, the “anointed ones” who possess it all. Self-righteousness is their claim to moral superiority. Insecurity is their proper foundation.
Acquaintances who do not share our positive attitude about life and our value system are usually negative pains in our neck (a*s) and should become ex-friends. The same goes for (online superficial friends) parasites we have never met but always express their unintelligent, emotional, and irrelevant opinions. These parasites tend to express their ideological views and attempt to sway others to their way of thinking, which is always a 100% waste of time.
Of course, their knowledge is science-based, spoon-fed information, according to the propaganda machine on mainstream media news, ABC, CBS, CNN, MSNBC, BBC, and FOX. The same goes for obnoxious and opinionated co-workers and employees. Does anyone care about their superficial opinions outside their self-subscribed microcosm? Who cares? Not Me! It is tiring to deal with stupid. Eliminating cluttered relationships from our personal and business spheres will provide tranquility, dignity, and positive results.
Suggestion for a time/value system of daily activities with variable time importance for each activity:
Leveraging time will create more free time. Some of our daily activities can be eliminated, consolidated, or delegated. We can use others and technology to leverage our time, talents, and skills. Others may be associates, employees, or independent contractors.
A, B, C, D, and Time Off are subsets of the time management systems. Time effectiveness may vary according to our motivation, regimen, objectives, tenacity, and use of strategic leverage. Leverage comes from delegating to others.
“A-Time” is the most valuable time spent. A-Time is face-to-face or one-on-one communication with our targeted buyer or seller. The communication may be in person, by phone, or by email but must expressly reflect “a request” that the party or prospective buyer/seller wants to work with us or buy our products, goods, or services.
I suggest that average salespersons do not apply 10% of their workday in an A-Time mode. They should strive to spend 60% to 80% of their available time in an A-Time mode and delegate everything else.
“B-Time” is the time spent preparing (preparation time) to transition into A-Time. A phone call request, a letter request, or an email request is probably involved. B-Time may constitute 30% of one’s daily schedule. Push our time into A-Time and delegate B-Time to another.
Examples:
• Preparation time. • Draft a letter, email, text, or phone call to request an appointment for a face-to-face meeting with the prospect. • A-time does not begin until the customer or lead is in front of you or on the phone.
“C-Time” is for administrative activities with no specific defined results. However, it does have value in driving our business forward. C-Time most likely consumes 50% to 80% of our workday. The key is to delegate C-Time to support staff—employees or independent contractors—to shift our resources to the most effective use of our time.
Examples:
Once we consummate the transaction, all other follow-up activities to drive the process forward fall under C-Time.
Record keeping and regulatory compliance activities are C-Time.
Developing and maintaining marketing systems, including updating the database.
Office organization and administrative duties activities are C-Time.
Interactions with staff and co-workers.
Interface with third-party vendors such as escrow, title, appraisal, environmental engineers, and property-related insurance companies.
All general activities required to maintain our business enterprise but not directly attached to closing a transaction are “C-Time.”
Industry educational events.
“D-Time” is the catch-all of activities that produce no results and have little value; in other words, wasted time. These activities may consume a large portion of our day. D-time differs from time off or away from our business or money-making activities.
Examples:
Reading news and conversations with friends and family. (Some may argue that conversations with friends and family are not “wasted time.”)
Maintain social media such as LinkedIn, Facebook, Snapchat, and Twitter.
Casual conversations with employees and staff not related to business.
Industry meets and greets—cocktails with the boys or girls.
Time off:
Time off is not D -Time but is time away from work-related emotional pressure and clutter.
Everyone should take the time to recharge their (mental, emotional, and physical) batteries. Any semblance of work pressures should be avoided, including turning off the phone and computer. Avoid burnout by scheduling focused blocks away from anything related to work—hopefully, full days, unencumbered and away from the business environment altogether.
Most people have developed a place to escape from their business life or activity that helps them transition from a frantic hustle-bustle into peacefulness, tranquility, serenity, and resolve. A personal tune-up comes to mind.
The escapee can divorce from work and, no matter how temporary, can figure out how to spend free time away from societal pressures. I refer to this location as my “Mental Hobby Shop.”
Why do people misallocate their time and resources?
One prominent reason is the fear of rejection! Fear of rejection is the unconscious reason people move into the “safe space” or comfort zone of B-C-D time. When we request that someone work with us, they may say “No,” “Yes,” “Not now,” or “Maybe later.” They could also totally disregard us.
The most challenging learning curve in any salesperson’s career is understanding that “a prospective buyer is not rejecting us personally, but merely our request.” The salesperson must locate someone who needs their products, goods, or services.
Marketing Strategies:
Marketing strategies include face-to-face communications, direct calling, mass and individual emailing, postal mailing, group networking, online presentations, Zoom calls, and attending industry-related trade organizations. Direct calling is helpful for repeat follow-up calls to maintain an ongoing relationship with active prospects. For unanswered calls, leave a message; a follow-up email as a reminder is appropriate. The named person at least hears our voice and receives a friendly reminder email.
The above activities involve strategies to convert prospects into “active relationships,” including establishing business relationships and friendships. “Actives” consists of a group communicating with us and expressing interest in our products, goods, or services. Of course, “actives” can and should develop into business friends. Yes, friends do business with friends!
Developing an extensive network of “active leads” and personal relationships takes daily focused time and effort. Merely locating and purchasing a list has no value. A list is only the beginning. Initial introductions and subsequent follow-ups are necessary and will develop into success over time. An outsourcing vendor can verify whether the addresses and email addresses are correct. Active daily management of the list is essential to convert people from “cold” or “warm” into “active.” Import the list into a customer relations software system (CRM).
Here is a suggested action that we could take for someone who routinely or habitually does not respond to our request to communicate: send an email that states, “Fred, I have tried to contact you a few times without success. Would you prefer that I do not bother you?” If Fred wants to continue the relationship, he will respond. Fred may respond politely and say “no” or not respond. If Fred does not answer, you may demote him to “cold” and keep him in your database email marketing system. “Cold” leads get no personal follow-up other than marketing with a mass email distribution. If Fred is disrespectful or belligerent, delete his record entirely. Subject him to the big “Delete” in the sky.
A daily action habit is to spend a significant portion of your day calling or emailing “actives.” However, I call my friends more frequently than every 60 or 90 days. Repeated calls can be bothersome. Restart the process every 60 to 90 days.
People change jobs, and companies go out of business, show disinterest or disrespect, habitually fail to return phone calls or emails, retire, change names, change email addresses, change business locations, etc. Information contained in the prospect list requires constant updates and expansion. The “active” prospects in the network are the only ones we may reliably count in determining the size of our network or lead base. Also, even with a sizeable “active” lead base, we may lose 20% to 30% of them annually for all the reasons stated. “Warm” leads should become “actives.”
Replacing “dead leads” with “active leads” is necessary. We may drop the prospect from your “active” list and discontinue active follow-up over a reasonable time, such as 24 months of consistent follow-up. The other option is to email them occasionally using our standard email blast. Over time, they may again become “active leads.”
The quality of a prospect list may disintegrate overnight. In 2006, my company was primarily using direct mail. We mailed about 1,000,000 letter-form solicitations each month. Then, by September 2007, the market crashed, and the lead-based list quality disintegrated overnight. Thousands of institutional and private money lenders, real estate agents, loan agents, investors, and builders/developers left the industry. The quality of my lead list immediately went up in smoke. Poof!
Prepare for that event! You will need to reconstruct a new list starting from day one. If the quality of your lead base crashes, consolidate the list down to your “actives.” Email or call to verify that they are still there.
A poor strategy is repeatedly following up with the same prospects, even when they display disinterest or non-responsiveness. The quality of all lists is fluid and constantly changing.
All the above is a recurring process throughout one’s career. As the process becomes well-lubricated through practice and experience, you will expect increasing momentum in business until you have so much business that you need to stop marketing temporarily. Assimilate the new incoming business, then get back on track.
