Prepare Yourself for Our 2019 Market

There’s a shift happening in our market, and I have a few tips that will help you keep your business moving forward in 2019.

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What should you expect from our housing cycle in 2019? Many of you weren’t around when the market shifted back in 2008, but I was. At the time, I was worried and I wasn’t sure where my livelihood would go. There are a few things I wish I would’ve known then that I want to share with you now. Take a look at what’s happening with our housing cycle right now. Each cycle lasts from seven to 10 years, and if you look at the market in general, interest rates, home prices, and inventory levels are rising. Once this happens, builders start making adjustments. In fact, a lot of builders are getting more and more hesitant to build homes over $500,000. When we start seeing these trends, we know there’s a bigger change happening. I’m sure you’ve noticed this change. Some people think this means we’re in for a crazy spring, and hopefully that’s true. In the meantime, though, we know our market is changing, and we have to be prepared for it. What can you do to prepare yourself?

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When we start seeing these changes, we know there’s a bigger change happening.

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First, make sure you have the right mindset and are motivated to work every single day. It’s been easy these past few years to kick your feet up and let business come to you, but that won’t be that case anymore. Get your hands on as much motivational, self-help literature as you can and make sure you’re reading at least 10 pages a day. Second, surround yourself with podcasts and other things that are positive in your mind. This will help your business move forward. You might have to deal with a few breakdowns, but without breakdowns, there are no breakthroughs. Finally, take care of yourself. Make sure you’re eating better and thinking better. If you increase productivity by 10% in 10 areas of your life, you increase by 100%. Moving forward, I’ll be sharing more tips that I’ve learned in all my years in the business that will help you prepare for the future and keep your business moving forward. If you have any questions or there’s anything I can help you with in the meantime, don’t hesitate to reach out to me. I’d love to help you.

3 Tips for Becoming the Top Producer in Your Office

You don’t need talent or luck when you can set goals and keep yourself accountable. Here’s why.

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If you’re like me, you’ve been seeing a change in the market. When times seem to be winding down like this, I like to think of how we can keep being great producers even during a lull in the market. Here are three ways to do it: 1. Spend at least two hours a day on business development. You must keep yourself accountable to this; do not take it off your calendar. You have to build your business each day, and two hours is the bare minimum. 2. Keep 80% of your time dollar-productive. Use this time to be working with people, negotiating contracts, and doing the things that really make you money. If you find yourself sitting around, get to work! Always be doing something that is growing your business in some way.

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Always be doing something that is growing your business in some way.

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3. Have your goals in front of you. You need to know exactly where you’re going and break it down into a daily practice. As you’re doing those things each day, you’ll be coming closer and closer to reaching your goals. Set a goal each morning and accomplish that goal by the end of the day. On top of all this, it’s important to keep yourself accountable. If you don’t, these straightforward routines will be nowhere near as effective as they could be. If you have any other questions or need information, reach out to us. We look forward to hearing from you.

The Due Diligence of Buying an Investment Property

Investment properties are good for your business, but there are a few things you need to know about a property before buying it.

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If you don’t already own an investment property, it should be your goal to buy one by the end of this year. Before you buy a property you’re interested in, though, there are a few things you need to consider. First, what is the projected income of that property? What are its income rates now, and where will they be in the near future? Look at the rent rates and see if there’s an opportunity to raise them. Remember, the higher the income, the higher the value of the property. If the current landlord has owned that property for at least the past three years, the rent is properly low. Second, what is the current tenant’s situation? Get a copy of the property’s leases and see if anything needs to be adjusted so you can better understand what you’re getting into. Next, consider the utility situation. If you’re buying a multi-unit property, there will be separate utilities, which means there will be a difference in income.

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When you invest in real estate, you can offer more value to your clients.

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Also, consider the overall condition of the property. You already know that you need to order an inspection for it, but in some cases, you’ll need to bring in additional experts so you can better understand what needs to be done to fix it up and whether you have the funds in place to make the necessary improvements. Lastly, try to have six months’ worth of cash reserves so you can make those improvements. Make sure you have that money in the bank so you can take care of roof expenses, plumbing expenses, etc. When you invest in real estate, you can offer more value to your clients. You understand rent laws, what it takes to buy and sell a rental property, and what it’s like being a landlord. Also, you can reap the benefits of owning that property’s income forever. If you have any more questions about the benefits of investing in real estate or there’s anything else I can help you with, don’t hesitate to reach out to me. I’d love to speak to you.