Ingredients for Success

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There is not one, but many ingredients needed to be successful in any career path you choose. In this article I will list some I constantly mix in to keep on top pf my game. Some I incorporate more than others due to the fact that they are needed, wanted or desired more.

• Education - Continuing Education via my peers or self education. A must!
• Health - Maintaining a healthy lifestyle gives me more energy.
• Exercise- Maintaining physical and mental health keeps me on my toes.
• Inspiration - Hearing success stories form other people drives me more to give back.
• Attitude - Having a positive attitude is vital as it limits my stress.
• Meditation - Take time each day to relax and re-charge.
• Reading - I read, even if it is a little every day for mental relaxation.
• Hobbies - I have various hobbies I like to do to get away from work once in a while.
• Organization - Stay organized to mitigate the ridiculous stress of finding things all the time.
• Volunteering - Giving back to others or helping people makes you feel good and is fulfilling.

I incorporate some of these on a daily basis, a few times a week or on a weekly basis. I realized in order to be successful you must have a balanced lifestyle. Putting everything into one area of your life will not get you anywhere. I know this from personal experience. Once I started maintaining a balanced lifestyle including all areas of my life into my daily routine, I found out how much more energy and less stress I had in my life.

Happy Balancing!

Tony

Short Sales - 2009

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2009 will be another year of engaging in short sales for investors. There will continue to be an abundance of opportunities to close a lot of deals and funnel our income into other investments letting our money continue to work hard for us.

The mindset we have going into a short sale is what can we do to help the home owner. First things first is to let them know nothing is guaranteed. We have them sign a letter of understanding detailing what we are trying to accomplish.

Number one is to keep a permanent foreclosure from going on their credit. Second, what is it they need that we can assist them in moving out of the house. Granted the bank does not allow the seller to receive any profits from a short sale, but we may take our own money and pay for their rental truck or first and last month's rent at their new place. We understand they are in a financial crunch, so we are willing to offer some assistance.

We know all short sales do not close, so we keep an existing pipeline of them going. We put together the short sale package getting the Authorization to Release Information form signed by the seller so we can talk to the bank on their behalf and fax it over to the bank. After we fax the package we let it go.

We start to follow up once a week. The first week we find out who has been assigned the file. We get all pertinent contact information in order to keep the channels of communication open. As we continue to follow up we always ask the person with our file if they need anything now or is there something that needs re-faxed.

We never get upset at the person working the file. They are not in control of making the ultimate decision. If we do not hear from our contact for an extended period of time we have ways to get them to call us. Ohhhh how I love those who taught me short sales and how to get the bank contact to call. The little secrets you learn.

Make sure you have your buyer's lined up. Cash buyers first, qualified financed buyers second. Make sure to follow up on all necessary tasks as they rise to ensure a quality closing.

2009 will continue to bring about more short sales with Option Arms and Alt A paper loans resetting. Recasting of the Option Arms will tack on unpaid interest to loans causing more home owners to owe more than what the house is worth.

Happy Short Sales!

Tony