Archive for April, 2010

REIC Insider: Josie

Apr 30 | by | REIC Insider
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Most of what I do at REIC is not real estate related at all. I don’t know much about buying a home and I don’t know a whole lot about the current real estate market other than it kind of stinks right now. I deal with all of the company policies and procedures, manage the crazies that run around the office and ensure are in compliance with every law ever created for the workplace! No, I’m not like Toby from The Office…Ok, well maybe I am. But that is beside the point. A project I’ve been working on is Leadership Training. Trying to figure out what kinds of leaders we want to build at REIC, what to teach them, what books to read, what ROI the company will get from it. I do A LOT of reading and research about motivating employees, recruiting, selecting and hiring the right people and building company culture. I have an extensive list of books to read for the summer, one of them is Emotional Intelligence. Earlier today, I was reading an article that highlighted a few points from that book and gave 11 key steps to success and applied them to the workplace. To introduce these 11 keys to success, Julie Jansen wrote: “Time and again, it is apparent that those individuals who exhibit these 11 keys and use them most productively are consistently the most successful and well-liked individuals overall. The good news is that most people are born with at least some of these keys or learned them at a very young age, and all of these keys can be developed or learned later in life.” The following steps are:

1. Confidence: an unshakable belief in oneself based on a realistic understanding of one’s circumstances; a trait that most people admire in others and strive to acquire themselves.

2. Curiosity: being eager to know and learn; always showing interest and giving special attention to the less obvious; always being the person who says, “I want to know more about . . . .”

3. Decisiveness: arriving at a final conclusion or making a choice and taking action; making decisions with determination even when you don’t have all the information you think you need.

4. Empathy: demonstrating caring and understanding of someone else’s situation, feelings and motives; always thinking about what it’s like to walk in someone else’s shoes.

5. Flexibility: being capable of change; responding positively to change; being pliable, adaptable, nonrigid and able to deal with ambiguity.

6. Humor: viewing yourself and the world with enjoyment; not taking life or yourself too seriously; being amusing, amused and, at times, even comical.

7. Intelligence: thinking and working smartly and cleverly; being sharp in your dealings; “not reinventing the wheel”; planning before acting; working efficiently and focusing on quality over quantity. (Important note: This is different from IQ, the common abbreviation for intelligence quotient.)

8. Optimism: expecting the best possible outcome and dwelling on the most hopeful or positive aspects of a situation; believing that the glass is half full rather than half empty.

9. Perseverance: having passion, energy, focus and the desire to get results. Motivation, persistence and hard work are all aspects of  perseverance.

10. Respect: remembering that it is just as easy to be nice; protecting another person’s self-esteem; treating others in a considerate and courteous manner.

11. Self-awareness: a sophisticated form of consciousness that enables you to regulate yourself by  monitoring yourself, observing yourself and changing your thought processes and behaviors.

I loved all 11 of these and will be incorporating them into my future leadership trainings for REIC. What do our seminars and coaches always tell you when you get started? Real estate is hard. It really is. And actually, almost all of the most rewarding things in your life are going to be the hardest. These steps aren’t just 11 steps for success in the workplace or real estate. But for life.

~Josie De Leon

Fear of Failure and Embarrassment

Apr 28 | by | Some food for thought
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For individuals contemplating a future in real estate investment, or any activity that strays from the dreary mold of mediocre existence, fear of failure is one of the greatest obstacles they face.

When we say that we are “afraid of failure” we are making a broad generalization that glosses over the things that truly worry us.  This fear is paralyzing, and yet, because of its nonspecific and meaningless nature, we struggle to defeat it.

The fear of failure is a vague term that encompasses a broad range of dread and apprehension.   The key to beating it lies in recognizing each of its component terrors, and overcoming them one-by-one.

I want to take a moment to address one of the actual, specific fears included in this pantheon: it is the fear of embarrassment and humiliation.  For many, the fear of losing face in front of others – of being mocked for attempting to achieve something of great importance – is a powerful paralytic.

Consider the true purpose of fear: it is a biological response stimulated by the perception of threat, and enables us to avoid situations or activities that could endanger our lives.  And yet, this important mechanism can be warped to create panic and terror over things that offer no true threat or danger.  Such is the case with our fear of embarrassment.

Has anyone ever died of embarrassment?  Perhaps.  I suppose one could find an example of an individual so overcome with the intense emotions of shame and humiliation that a physical response, such as a heart attack, actually occurred.  Yet, I imagine that these circumstances are rare.  Furthermore, they are entirely the product of the mind; they threaten us only because we believe they can threaten us.

This fear of looking foolish stifles our drive and creative energy.   We wait for others – perhaps friends and family – to give us permission to attempt something new.  We pause, and wait for another to traverse the untested trail, hoping they will validate our belief that treasure is waiting at the end; in so doing we forfeit our claim to the prize we intuitively sensed was available.

If you were freed from the shackles of shame and embarrassment, what could you do that you are not currently doing?  Would your decisions be easier, and your view clearer, if outside opinion was irrelevant to your thinking?  How much of your daily routine is determined not by your own desires, but your wish to avoid the critical eye of your peers?

When we learn to recognize the illusory nature of the threat of embarrassment, the windows of possibility will open to us.  Among the fears that contribute to our dread of failure, this is among the greatest.  The peace and confidence you will achieve by relinquishing this unnecessary burden are well worth the effort.

~Christopher Wood

Interview on Real Estate in Focus

Apr 27 | by | Announcements, In the news, Real Estate, Testimonials
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Kris Krohn’s interview on Real Estate in Focus, this past Saturday, is now available online. It was a very positive interview, taking up the entire hour. Kris did an excellent job promoting his book and REIC Global.

Real Estate in Focus airs on the Access Radio Network, which is broadcast to 21 radio stations, nationwide.

You can listen to it below:

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Walking the Talk

Apr 26 | by | Some food for thought
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Every Monday morning we have a company-wide meeting here at the home office where we talk about upcoming events, progress on current projects, hot topics, and many other forms of company business.

One of the most interesting items covered in the meeting, to myself as the new guy, is called “Good News Minute”. Anyone in attendance has the opportunity to share with everyone else what is going on in their lives. Invariably, someone will talk about progress being made towards building up their own real estate portfolio, whether they are in the process of finding homes that fit the REIC standard, closing on one or multiple homes for purchase, or closing a rent-to-own contract.

Everyone uses Kris Krohn’s Straight path strategies to find and finish these real estate deals. All that tells me is that the system not only worked for Kris when he developed it. It is working today for anyone willing to walk the Straight Path.

~Josh Nuttall

Outside The Box

Apr 23 | by | Some food for thought, Testimonials, Uncategorized
3 Comments

Yesterday my 18-year old son, Sam, called me from home to say “Mom, while cooking a smoke-bomb on the kitchen stove I let it heat up too long and it exploded. The good news is that everything in the kitchen is o.k. – the bad news is when my spoon caught fire, I threw it into the living room and there is now a spoon-shaped burn on the sofa.” After wiping away my tears of laughter, I asked him what he learned from the episode, and he answered “next time my spoon catches fire, throw it towards the sink.” When was the last time you did something outside the box? The greatest satisfaction I get from working at REIC is we create solutions by refusing to say “it can’t be done” and finding a way to create success for clients, when others give up. So keep going, keep looking, and create your own amazing destiny!

~Christine Graham

All About REO’s

Apr 22 | by | Discount Equity, Mortgages, Real Estate
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We know you’ve heard all about REO’s. You know that “90% discounts” you hear on the radio and see all over our videos, websites, seminar presentations and blog posts. Well, last week, in MSNBC.com’s Real Estate section, there was article all about REO’s. Check this out from the article:a23639c5f5d24140a91db16726cb50d8 All About REOs

“The number of homes entering REO status (short for “real estate owned” by a bank) climbed 35% to 257,944 — the highest quarterly total ever — from 190,543 in the first quarter of last year and 9% from the previous quarter, according to real-estate data firm RealtyTrac.”

Pretty interesting stuff. But the more interesting part, is about how many REO’s the banks have and how many are available on the MLS. Keep reading!

“Just how many foreclosures move through the foreclosure process and when banks sell them will be key factors in how much more real-estate prices could fall before they recover.

Most of these bank-owned properties are not making it onto multiple listing services, analysts and brokers say, despite banks having more of them to contend with.

“We have about 860,000 REOs in our database, and only about 30% of them are available for sale on the MLS,” Sharga says. “That means you have another 550,000 to 600,000 that have yet to hit the market.”

So if banks have all of these REO’s and are selling only 30% of them and have very limited time to get the toxic assets off of their books, how do they get rid of them? These aren’t available to the general public. But that’s where our “90% discounts” come in to play. Come to an REIC seminar to learn more about how REIC is participating in purchasing the 550,000 to 600,000 homes that have yet to hit the market.

Meet The Team: Josh Nuttall

Apr 21 | by | Discount Equity, lease option, Meet the team
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I am very new to the REIC team. In fact, until three weeks ago, I had only heard the name REIC once or twice on the radio and had a vague idea that they did something with real estate. Having some previous interest in real estate investing, and investing in general, I was intrigued. But I, like many others, have had experiences in real estate that turned me off to the idea of ever “investing” in real estate.

My paradigm of real estate investing had been soured by bad experiences with real estate agents, an economy in the dumps, an almost complete lack of time (because I have had to work so much to keep the bills paid), and the word “landlord.” I know for a fact that I would never make a good landlord. And I have no desire to find out otherwise.

I began looking into REIC when their Human Resource Department contacted me regarding a position I had applied for. The interview process started with a phone interview, and being the good interviewee that I am, I looked at their web site for more information about the company and what they are about. Five hours later I had to take a break and begin processing all of the information I had just taken in. I began to ask myself if this was just another scam. Can such huge returns happen in a down real estate market? During a phone interview, I asked for more information about the company. One of the questions I asked was about the growth of the company over the past year. The number I was told was astounding: over 300 percent. And this growth was experienced during a down economy. So I continued with the interview process and became successful at becoming one of the newest REIC employees.

All of this took place about two weeks ago. Based on my experiences with the people of REIC, I am confident that REIC will be around for a very long time and will help people make a lot of money in real estate—including me.

~Josh Nuttall

Tax Credit Extension for Some

Apr 20 | by | Announcements
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The U.S. government has extended the First Time Homebuyers Tax Credit for some. Here is a link to a great video explaining who qualifies. Check it out! Watch Video The show is called ThinkBigWorkSmall, and they have lots of great stuff on real estate!

Housing Cents: When A Lease Option Makes Sense

Apr 19 | by | lease option
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This is a recent article written by biggerpockets.com. You can read the full story here.

Nationwide housing prices continue their downward march, though at a slowing rate. Foreclosures were down nationally in January 2010 , but still claimed a staggering 474,000 properties. Nevada was number one on the list with 1 in 76 property owners losing their homes.

The “blame game” has reached a fever pitch as politicians, bankers, and individuals each take pot shots at each other to assign responsibility. There is certainly enough fault to go around. However, individual consumers’ lack of knowledge on housing, interest rates, contracts, and financial markets must claim part of the responsibility.

Consider a surprising trend – the average high school student thinks he/she will make $145K a year in the work force. On the other hand, only 34 percent of teens understand credit card fees and the bankruptcy rate among 18 to 24 year olds has increased by 96% over the last ten years.

Read the rest of the story here.

The Strait Path to Real Estate Wealth For Free

Apr 16 | by | Announcements, In the news
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Everyone at REIC is excited! There are so many new and fascinating things going on that it would make your head spin. Many things are happening all at once: tons of new video footage is being produced, new audio is being edited and readied for release, web site modifications are taking place, Kris Krohn’s book (The Strait Path to Real Estate Wealth) is about to be released to the public, FOR FREE!!!…and the list goes on and on.

One of the single biggest events we have planned is the 2010 Annual Wealth Summit that will be held Thursday, May 6th at the Provo Marriott Hotel (101 West 100 North, Provo, Utah). Kris Krohn will be holding a book signing at 6:00 pm and the Summit will begin at 7:00 pm. Please attend if you can make it, and bring friends and family. We hope to see you there!!

To keep abreast of everything that is happening, keep visiting us on the web at REICGlobal. If you would like to sign up for one of our free, live (Utah and Salt Lake County, Utah) seminars, visit REIC Events for more information including a schedule and a list of locations. Also, if you would like to learn more about what we are doing at REIC, e-mail us at info@reicglobal.com.

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