Archive for December, 2007
New Year Resolutions are for Lemmings!
Posted by: | CommentsGreetings for El Paso, TX…….wow…it is nice and warm here.
I am in the midst of a series of sporting events…next is the the Sun Bowl in El Paso, TX. The Sun Bowl is hosting two teams that fell hard from the elite rankings earlier this year. Both reached the #2 spot of the top twenty-five rankings….then ….then….almost disappeared…Oregon Ducks vs. the Bulls of University of South Florida (USF).
So what does college football have to do with wealth and real estate….Rob? Well….I have no idea….but when I saw Boone Pickens (legendary Texas oil and real estate businessman) give a hundred million to his alma mater, Oklahoma State, in order to improve the football program…I figure there is a relationship in there somewhere.
Anyway…..The new year is upon us and so is the tradition of New Year Resolutions…..Ugh.
Setting New Year resolutions each and every year? Why?….there are hundreds of reasons for this…but for most, it is a date for a clean start….and an excuse to binge (for those of us going on a diet) or an excuse not to take action or not to not change a habit until January 1st.
I am going to make a controversial statement here and say that "New Year resolutions are for lemmings…."
I think New Year resolutions are stupid….
Why? Because they are excuses for not taking action NOW. It works like this….so you start pigging out at Thanksgiving all the way through the New Years eve party….and you tell yourself and the other pigs around you…."I can eat like this now…because come New Years….I am going to join a gym and lose the 80 pounds."
Sound familiar….it should.
What I have learned on my journey in building relationships with the 1% is that successful people take action NOW….what I have learned about everyone else is….they do what everyone else is doing. Status quo….New Year resolutions are a great example of status quo….
So…I challenge you…..Make one and only one resolution….to never make a New Year resolution again…AND…to take action today…right now….(okay ….that is two resolutions). Yeah..Yeah…so I am talking out of both sides of my mouth….but you know what I am saying and you get my point…..
Next time ….I am going to tell you why I think the best selling book "The Secret" is garbage. Yikes….!
Until next time……rob
P.S. Feel free to comment on why I am wrong…or right….
Also…please register your email address so you can get my blog in your email box….
Happy New Year……
First Video Blog….Building Your Life Around Your Job?
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Greetings from a snowy Cedar Crest, NM…..
This is my first attempt at a video blog…please feel free to comment and also…..please don’t forget to register…..
Are you building your life around your job?
My dreams were put in a box early on in my life…."get good grades…go to college….and a good job." This is the advice I lived by most of my life. That advice almost destroyed me….
If you are having a hard time viewing the video…..click HERE
Until next time……..rob
Is the Residential Crisis Leaking Into Commercial Market?
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Greetings from Cedar Crest, New Mexico….
First of all thanks for all the emails and kind support for this blog. Feel free to comment at the end of each blog and share your thoughts. I will post your comments whether you disagree or agree with anything I write….
Is the housing crisis impacting commercial real estate?
I have been getting a good amount of market information and I am sharing some worth-while reads via links below. Personally…I felt we would not see the housing market crisis leak into the commercial market until spring or summer….but I am seeing early signs of trouble in the commercial side of real estate. Actually…I am experience some of these "signs" myself.
Last month, my lender, Brandon Haddon of Omni Credit, told me that money was tightening up for commercial. Even a major national bank froze all commercial lending until second quarter of next year for new purchases (hint). Then last week a couple of solid commercial deals crossed my desk where the owners needed to sell fast because financial troubles with residential development deals gone bad (hint, hint).
Right now we are seeing a domino effect in an indirect and stealth way. Investors that are having financial woes with residential projects are dumping commercial properties to stay above water. With banks tightening up…this makes the situation very difficult for both buyer and sellers….unless the investor is liquid and/or has access to private money.
Opportunities are coming and a few opportunities are already here……so if you have been taking my advice and getting liquid, and most importantly, building wealth lifelines…..you will have access to some great deals.
The good news for investors is….the fed cut rates again….you may be seeing fixed loans at or below 6% while short term, indexed based loans moving higher. So….if you can find the money….the terms are great right now for solid "performing" properties.
latest news….
1) TROUBLE IN TEXAS: Huge Multifamily Owner Nears Collapse
2) Is any property sector truly recession-proof?
3) Possible 2008 Democratic Sweep Scares Some Owners
Thanks to Matt Pitcher from the Live Oak Group for some of these articles. You can find out more about Live Oak Capital Group @ liveoakcapitalgroup.com
Until next time…..rob