Monthly Archives: July 2013

5 Things Real Estate

Here at GT>A we love us some real estate, investment real estate.  And here are 10 things you should

1) Your home is not an asset!

Huh!?  A real asset has an inflow of cash.  Does your house do this?  Let’s think about it.  You pay out your mortgage, expenses, insurance, etc, etc and have no income from it.  This does not make it a true asset.  That being said, it does make for a happy family and peace of mind you have a place of your own.

2) Buy Now!

If you have always contemplated investment real estate, now is the time to buy!  Interest rates for commercial properties are between 4% and 5%.  That is unheard of!  The best part, currently, it’s possible to get those rates locked in for 3, 5 and even in some instances 7 & 10 years.  MOOOOLAH!!!!!

3) Financing

It isn’t all about the price, the key factor is cash flow!  The deal terms.  There are many ways to do this.  Putting the least amount of your own cash in is key!  Always search for the least amount of a down payment.  This minimizes your risk, while increasing your cash on cash return. Look for financing that allows you to stretch out your amortization schedule from 15 or 20 years to 25 or 30 years.  See if the owner will hold the mortgage, with a balloon payment after five years.  If you are confused on some of these terms – stay tuned – a beginners definition guide is coming soon!

4) Entities & Legal Structure

Real estate law is quite possibly the most convoluted of legalities.  Make sure you have a qualified attorney drafting your operating agreement, and articles of organization.  A few hundred bucks is worth it in the long run.  Most real estate is formed as a Limited Liability Company (LLC) and many times it is recommended to have each property you own, be its own entity, under its own LLC.  This helps protect you, as the owner.

5) Real Estate Evaluation

There is a simple rule to abide by.  If you are looking at multi-unit properties, such as a 2, 4 or 8 unit; you never want to pay more than what the property is worth.  NO DUH! Right?  So what is the property worth?  A good rule of thumb is – one months rent, of the entire building, is one percent of the buildings value.  So if I were looking at a property that had four units, each unit renting for $600 a month my thought would be:

Well, $600 per unit.  Four units.  $600 x 4 = $2,400. $2,400 x 100 = $240,000. Ding, ding, ding.  In ordinary circumstances, never pay more than $240,000 for this property.

It’s that easy!

Thanks for checking out 5 Things Real Estate.  Look for our next real estate edition that defines some common real estate terms for beginners!

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Speaking at “Diamonds in the Rough”

Since I blogged about my anticipation leading up to last weekends speaking event I figured I would post it.

Yes, it was a low-budget production, but that’s what you get when you are a low-budget speaker.  Now that I think about it, a free speaker!

I also wanted to share the video displaying how much weight people have lost through the help of AdvoCare AND changing their lifestyle.  In the following video there were 1,600 pounds of weight lost!!!

But remember, it’s not all about weight, some of you are obsessed with the scale.  You should be more concerned with how you feel!

Also, unfortunately no video, but there was $145,000 of monthly income represented on that stage!  Changing people’s lives in multiple ways is awesome.

2013 Goal Updates

Just over half way through the year I felt it a good idea to evaluate my goals for 2013.  Some are on pace, and some not.

AdvoCare 3 Star Gold.  AdvoCare is really allowing me to pursue other interests that I won’t necessarily get paid for this year.  For example, the app we are working on.  I have on my goals list to pin 3 Star Gold ($40,000 per year) and 6 Star Ruby ($80,000 per year) – that is helping A LOT of people!  I am starting to see the formation of 3 Star Gold. And with 6 total teammates coming with me to success school at Cowboy Stadium in August, there will be a huge boost towards it.

Purchase of two income producing real-estate properties.  After looking at hundreds of properties, we are set to close on a four unit apartment complex on August 30th.  The second property, which we have an accepted offer on, might be a stretch.  It is an 11 unit complex right outside of Madison, WI, with a supposed closing date of September 26th.  I am currently trying to form a group of investors to finish this baby off!!!

Read 2 books per month.  I have, so far, read only one book per month through June.  However, with a huge travel schedule coming up, I should hit 24 books by the end of the year.

Run a 5 minute mile.  I have not been running long distance very often (maybe every other week) the fastest I have run so far is 5:42.  Still along ways off!  I will be going to the track and I will get below at least 5:30 in August or September on a humid, 100 degree day. (Some Like It Hotwhile working out). Much pun intended.

Bench 225 thirty times. Okay, so my fitness goals might seem silly 😛 , but they are things I’ve always wanted to do.  The closest I have come to this is 26. I’ll attempt a couple more times this year.

I have obtained my real-estate sales license.

Create an income producing app.  This is in the works.  We started development in early March and have made huge strides.  We have begun testing the app and will have another group testing soon.  We have also been approached by a group in Silicon Valley who want us to contribute on an app concept they have come up with.  I don’t know that our app will be income producing by the end of 2013, we will see…

I have visited Shannon in Mexico City.  Twice.  Hopefully a third at the end of August!? 🙂

Not only did I attend a Michael Zumchak excel class in New York City, but he found the blog that I wrote, promoting him and his class.  He has since been working with me on many of my excel tools to make them more time efficient and effective.  GREAT GUY, & ABSOLUTE GENIUS!

In August I will have attended both AdvoCare Success Schools for the 2013 calendar year. I will fall short of the 15 total team members in attendance, as the first one there were three of us and this second one is looking like six or seven.  Still not bad!

10 speaking engagements with greater than 20 people.  I have so far spoken in four of these events.  Two events were at high schools where there were 60 and 25 in attendance.  I also spoke at my Alma mater, University of Dubuque, to a business organization about my early entrepreneurial experiences.  My latest speech was at an event with 300+ people!

If I did not mention a goal it is because I have not started progress towards it yet; I guess you can only do so much and of course I am prioritizing.  I have to get a majority of these done, I already have some huge plans for 2014 including travel, more AdvoCare, real estate and other business ventures.  Maybe even a reality t.v. show… 😉

I hope you all have a vision for yourself.  Go after huge goals.  Have them written in a place that you see them at least two times a day along with your purpose for attaining them.  The mirror in which you brush your teeth works best!  GO GET IT!

“Dude, what are you going to say!?”

This weekend I am speaking in front of 300 to 500 people at “Diamonds in the Rough” an AdvoCare event in Madison, Wisconsin.

Sharing the news with my AdvoCare teammates, who will be in attendance, their immediate reaction was, “DUUUUUUDE, what are you going to say!? Did you write something out?  Are you going to use a notecard, with some keywords?”

My answers: “Kind of, no and no!”

I previously wrote a post giving tips (which work for me) while public speaking which you can view here.

I was quite shocked and honored when asked last Saturday to speak at this up-coming event.  Being the largest event I have spoken at, in front of more than I’ve spoken in front of before, I immediately thought, “Okay, what do I have to do to prepare?”  Then I realized, just do what you normally do.  Act as if it is the normal attendance of 20, 40 or 60. Don’t change it up now.

Throughout the week, this is what I have done to prepare. It wasn’t much different from my mental preparation of a college football game.

1) While laying in bed, I would close my eyes and envision the day of the speech, from the time I wake up, until the time I am done speaking – all positive thoughts.

2) With my eyes still closed, in my mind, I piece my thoughts together of my attention getter (which will come full circle at the end of the speech) and an introduction; my story of which will take up two of my ten minutes on stage. Go to sleep

4) The next nights I thought about what I would talk about.  My key points.  This is best in threes.  I came up with the three things that I believe have made my AdvoCare business jump out to a quick start. Then went to bed again.

5) Freestyle rehearsal.  What I mean by this is to start from the attention getter, go through the introduction and then start to develop your three main points and your closer.  I find it best to do this in the car while I’m driving.  It is important in a “freestyle rehearsal” to speak out loud to yourself, using real emotion. WARNING: Other drivers will give you weird looks! The thing about these rehearsals, I have not once done it the same.  There is always a small, sometimes a big twist and change.

That is it.  I keep it simple.  I find that if you add note cards, or something to look at, a guide it becomes a distraction to yourself. And stay away from power point!  The real way to use power point is to have pictures or a visual display.  If you need all of your key points on Powerpoint, you really do not know what you are talking about.

That being said, I am never scared of failure, and I am confident that everything will be fantastic.

 

😀

Motivational Monday

Today’s Motivational Monday is brought to you by a good friend, Adrian Brambila.  Adrian is a fellow entrepreneur who started his own non-profit, Dance Saves Lives (DSL). DSL’s profits go towards empowering youth in poverty through dance.  DSL was recently in the Dominican Republic where it began shooting footage for its first documentary!

Click here to check out the Dance Saves Lives website and here to check out some of Adrian’s insane dance moves.  Dude is creative and qutie the talent!

Onto today’s video featuring Adrian.  Never give up on your dreams, no matter what “friends” and others think or say.