Hello Everyone:
March 09 housing numbers are in! Existing home sales are down 3% over Feb 09 sales, with foreclosures up 49% over last year at this time.
Hot spots for foreclosures: Las Vegas, NV , Florida, Charlston, SC and IL; in fact 1 out of every 22 homes in Vegas are in foreclosure - scary!!!
That being said, now is a great time to get involved in lease options, it's the ultimate escape clause with control without ownership! For more information on lease options please visit : http://www.jgage.com/rent-to-own.htm
Be well,
James Gage
Thursday, April 23, 2009
Monday, April 13, 2009
Real Estate Investing: Tip of The Month
Hello Everyone:
Have you ever had a great real estate deal, but was unable to go through with it because it was in a flood zone & you couldn't get flood insurance? Or, you could get it through your agent, but you would have to sell one of your children?
Well, that is a thing of the past! The government has set up a program through FEMA to assist home owners and renters obtain flood insurance starting at $119.00 per year - please visit : http://www.floodsmart.gov/floodsmart for more information.
Be well,
James Gage
Have you ever had a great real estate deal, but was unable to go through with it because it was in a flood zone & you couldn't get flood insurance? Or, you could get it through your agent, but you would have to sell one of your children?
Well, that is a thing of the past! The government has set up a program through FEMA to assist home owners and renters obtain flood insurance starting at $119.00 per year - please visit : http://www.floodsmart.gov/floodsmart for more information.
Be well,
James Gage
Wednesday, April 8, 2009
Real Estate Investing : Article of The Month, Real Estate Success Strategies
The PMA “Secret”: It’s All in Your Execution
By James A. Gage
Do you find yourself struggling with keeping a positive mental attitude (PMA)? Does reading or watching the news make you feel like there’s no point in trying to sell or buy real estate? Did you attend a conference recently and come home all pumped up – only to feel like a deflated balloon a week later?
Yes, the standard advice for developing PMA works – i.e. read self-help books, attend conferences, have goals, etc. But, none of these tactics will work if you fail to act.
That’s why I believe the real secret to PMA is taking action – versus simply believing the universe will send you what you want. What do I mean by this? Here are my three tips for achieving action-based PMA:
1. Look for opportunities in negative data.
It’s a fact: we’re in a recession. And yes, the real estate industry has been hit – hard. You have two options: you can get very depressed and give up or you can figure out how to survive and thrive.
We live in a time when data is easily accessible and plentiful. Instead of ignoring the news, learn how to disseminate hype from fact. This means that you take “negative” data and look for trends and opportunities within it – or as I say, “go where they ain’t fishin’.” Even though 25% of people were unemployed during the Great Depression, you could still find millionaires because these people knew where to fish.
When foreclosures began to skyrocket, I didn’t look at the numbers of foreclosures only. I also noticed a huge surge in people renting because they were losing their homes and didn’t qualify for a prime loan. I remember thinking, “Woo, wait a minute. I have to change my strategy.”
I knew I could take my properties and turn them into traditional rentals and wait out the market – or I could make this negative data work for me – which lead me to really looking at my lease-to-own strategy.
I’d always done lease-to-owns but due to the rental data, I put my lease-to-own strategy on steroids – and it’s working. My first step was to place a small ad on Craigslist. Due to this ad, I received an unbelievable 150 calls! I haven’t seen the numbers I’m now seeing – ever.
2. Look for inspiration outside of the real estate industry.
If you read history, you’ll know that downward trends, no matter how severe, always pass, so it’s important to get your head out of real estate, real estate, real estate and into other sources of inspiration – not just for positive mental attitude but for a fresh perspective.
One place I find inspiration is in my children. If I don’t stay positive and proactive, they won’t have a future.
I listen to John Maxwell, a former pastor and International motivation speaker, who is very down to earth and practical. He talks about how we’re not reinventing the wheel and how the struggles we’re going through now we’ve already done. He helps me keep things in perspective.
And, I take specific theories for living and apply them in different ways. For example, I’ve transferred the concept of homostatius ( def: physiology metabolic equilibrium actively maintained by several complex biological mechanisms that operate via the autonomic nervous system), a medical term for keeping the body in balance at all times.
PMA gurus talk about not hanging around with negative people. Applying the principal of homostatius, I’ve learned that I don’t want to hang around with those people who use extreme PMA techniques.
You can find lots of real estate gurus who have what I call “real estate diabetes.” They push the ultra positive things to the hilt and when you try to follow their advice, you end up “failing,” which brings me to my third tip:
3. Set realistic and achievable goals.
It’s very easy to go to seminars and get all pumped up with a “yes, I can!” attitude. You get a huge shot of adrenaline – then five days later you crash as you realize you’re still in the same rut.
You want to think “big” and push yourself, but you also have to set milestone goals that you can realistically achieve. If you’re currently making $100K right now, setting a goal to make $1 million in 12 months is unrealistic.
Instead, set a goal to make $1 million in five years and then set milestone goals to achieve it, and keep working until you achieve your goal (while celebrating those milestones).
There is absolutely nothing wrong with trying new strategies and failing. Where many people do go wrong is trying new things, failing – and then giving up. Successful people, on the other hand, have can-do attitudes in the face of failure, and will persevere until they achieve their goals.
Keeping a positive mental attitude does begin in your head, but it’s manifested in your actions: search for opportunities where none seem to exist, look for inspiration and advice from successful people outside of the real estate industry, and set realistic goals that you can achieve. You’ll find that it’s much easier to keep a PMA every day.
By James A. Gage
Do you find yourself struggling with keeping a positive mental attitude (PMA)? Does reading or watching the news make you feel like there’s no point in trying to sell or buy real estate? Did you attend a conference recently and come home all pumped up – only to feel like a deflated balloon a week later?
Yes, the standard advice for developing PMA works – i.e. read self-help books, attend conferences, have goals, etc. But, none of these tactics will work if you fail to act.
That’s why I believe the real secret to PMA is taking action – versus simply believing the universe will send you what you want. What do I mean by this? Here are my three tips for achieving action-based PMA:
1. Look for opportunities in negative data.
It’s a fact: we’re in a recession. And yes, the real estate industry has been hit – hard. You have two options: you can get very depressed and give up or you can figure out how to survive and thrive.
We live in a time when data is easily accessible and plentiful. Instead of ignoring the news, learn how to disseminate hype from fact. This means that you take “negative” data and look for trends and opportunities within it – or as I say, “go where they ain’t fishin’.” Even though 25% of people were unemployed during the Great Depression, you could still find millionaires because these people knew where to fish.
When foreclosures began to skyrocket, I didn’t look at the numbers of foreclosures only. I also noticed a huge surge in people renting because they were losing their homes and didn’t qualify for a prime loan. I remember thinking, “Woo, wait a minute. I have to change my strategy.”
I knew I could take my properties and turn them into traditional rentals and wait out the market – or I could make this negative data work for me – which lead me to really looking at my lease-to-own strategy.
I’d always done lease-to-owns but due to the rental data, I put my lease-to-own strategy on steroids – and it’s working. My first step was to place a small ad on Craigslist. Due to this ad, I received an unbelievable 150 calls! I haven’t seen the numbers I’m now seeing – ever.
2. Look for inspiration outside of the real estate industry.
If you read history, you’ll know that downward trends, no matter how severe, always pass, so it’s important to get your head out of real estate, real estate, real estate and into other sources of inspiration – not just for positive mental attitude but for a fresh perspective.
One place I find inspiration is in my children. If I don’t stay positive and proactive, they won’t have a future.
I listen to John Maxwell, a former pastor and International motivation speaker, who is very down to earth and practical. He talks about how we’re not reinventing the wheel and how the struggles we’re going through now we’ve already done. He helps me keep things in perspective.
And, I take specific theories for living and apply them in different ways. For example, I’ve transferred the concept of homostatius ( def: physiology metabolic equilibrium actively maintained by several complex biological mechanisms that operate via the autonomic nervous system), a medical term for keeping the body in balance at all times.
PMA gurus talk about not hanging around with negative people. Applying the principal of homostatius, I’ve learned that I don’t want to hang around with those people who use extreme PMA techniques.
You can find lots of real estate gurus who have what I call “real estate diabetes.” They push the ultra positive things to the hilt and when you try to follow their advice, you end up “failing,” which brings me to my third tip:
3. Set realistic and achievable goals.
It’s very easy to go to seminars and get all pumped up with a “yes, I can!” attitude. You get a huge shot of adrenaline – then five days later you crash as you realize you’re still in the same rut.
You want to think “big” and push yourself, but you also have to set milestone goals that you can realistically achieve. If you’re currently making $100K right now, setting a goal to make $1 million in 12 months is unrealistic.
Instead, set a goal to make $1 million in five years and then set milestone goals to achieve it, and keep working until you achieve your goal (while celebrating those milestones).
There is absolutely nothing wrong with trying new strategies and failing. Where many people do go wrong is trying new things, failing – and then giving up. Successful people, on the other hand, have can-do attitudes in the face of failure, and will persevere until they achieve their goals.
Keeping a positive mental attitude does begin in your head, but it’s manifested in your actions: search for opportunities where none seem to exist, look for inspiration and advice from successful people outside of the real estate industry, and set realistic goals that you can achieve. You’ll find that it’s much easier to keep a PMA every day.
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