Monday, December 20, 2010
Quote for the Day
"What a different story men would have to tell if only they would adopt a definite purpose, and stand by that purpose until it had time to become an all-consuming obsession." Motivation Matters. - Napoleon Hill
Wednesday, October 27, 2010
Making Lists
If you are like me, you love to make lists. Here is a list tip....
If you create your list at the end of each day, you'll sleep better. Your subconscious mind will work on preparing you for the tasks of the next day while you sleep. You'll find yourself waking not only refreshed from a good night's sleep, but also with great ideas for accomplishing the day's tasks.
John Maxwell Said
Very frequently I'm asked what motivates me. And I tell you, I crossed the line a few years ago where the success of other people is a higher reward to me than my own success. Why is it so rewarding for me to add valued to others? First, it's my calling. Second, it's so productive to get beyond myself and to help people grow and develop. And third, it's rewarding for me because it pleases God.
Tuesday, October 26, 2010
Some Personal Thoughts
Growth defeats control.
If you demand to control, you cannot grow. Growth takes trust.
Father You bless obedience not perfection.
If you demand to control, you cannot grow. Growth takes trust.
Father You bless obedience not perfection.
What is a Hypocrite?
A true Hypocrite is someone who asks the Lord for help, but does not obey.
Obedience to God is how we survive, not by doing what makes sense to us.
Read Jeremiah 42 for proof.
Obedience to God is how we survive, not by doing what makes sense to us.
Read Jeremiah 42 for proof.
Monday, October 11, 2010
Thursday, September 23, 2010
You Must Listen to This
Check out
www.fireonahill.com
This is going to change your life. Especially the message on "Waiting on the Lord"
www.fireonahill.com
This is going to change your life. Especially the message on "Waiting on the Lord"
Sunday, September 12, 2010
GOOD MORNING
Hello Everyone!
It is a great morning! I love that Fall is right around the corner. What a beautiful day it is. I posted these videos of Jason Upton to encourage those of you who will watch them. It changed my life and I plan on listening to them again and again.
Hope everyone has a wonderful day!
It is a great morning! I love that Fall is right around the corner. What a beautiful day it is. I posted these videos of Jason Upton to encourage those of you who will watch them. It changed my life and I plan on listening to them again and again.
Hope everyone has a wonderful day!
Saturday, September 11, 2010
Wednesday, July 21, 2010
Friday, July 2, 2010
Everyone Communicates, Few Connect
http://www.scribd.com/doc/28231498/Everyone-Communicates-Few-Connect-by-John-C-Maxwell
Check out the Link Above for a great excerpt out of John Maxwell's book about connecting. To give you a taste, here are a few of the thing that meant something to me out of the book.
What I mean when I say “connect”? Connecting is the ability
to identify with people and relate to them in a way that increases your
influence with them.If you want to become more productive and influential, learn to
become a better leader because everything
rises and falls on leadership. And the best
leaders are always excellent connectors.
People whom I saw connect with others had better relation-
ships, experienced less conflict, and got more things done than
those who didn’t connect. Have you ever heard of someone who is
said to live a “charmed life”? Usually those are people who have
learned how to connect.
Jennifer Williams, who had just moved into a new neighbor-
hood, said that she went out of her way to meet new neighbors, talk
to them, discover their occupations, and learn the names of their
children and pets. As she did, people began to come together.
“Wow,” one neighbor told her, “until you moved in, we rarely talked,
didn’t know each other, and would never sit out in the evenings and
socialize. Here you’ve been for less than two months, and you know
everyone!” Jennifer says it’s because “people want to be made to feel
connected and a part of something.”9 I agree, but I also recognize
that she is a connector!
The ultimate throttle on growth
for any great company is not markets, or
technology, or competition, or products. It is the one thing above all others—the ability to get and keep enough of the right
people.”The ability to connect with others begins
with understanding
the value of people.
I believe that almost everything we become and all that we
accomplish in life are the result of our interaction with others.
CONNECTINGPRINCIPLE: Connecting increases your
influence in every situation.
KEYCONCEPT: The smaller the group, the more impor-
tant it is to connect.
Thursday, July 1, 2010
Am I Willing to Receive Instruction?
So many times, when receiving instruction, correction, I find something inside me rising up to want to defend my place.
"Well, I did my best." "My motives were to help." "Why can't they see I am trying?" Etc... Especially in relationships...To the conscientious person, sometimes correction can be hard to receive, because these kinds of people have already taken extra precautions to not make a mistake. When they hear their performance did not meet the mark, it can be crushing. BUT this is pride. I am learning to receive correction more willingly. Here is what I found this morning to encourage me. I will share it with you.
Psalm 94:12
Blessed is the man whom You instruct, O Lord. And teach out of Your law, That you may give him rest from the days of adversity.
When I realized "Why" God instructs me, it made me happy. He instructs me to keep me from having a train wreck "that you may give him rest from the days of adversity." And for people who have my best interests in mind, this is "WHY" they instruct me as well. After all, it would be easier for them to say nothing at all.
So Today, I want to see instruction the right way. Not as a personal attack, but as an opportunity to be protected.
Proverbs says, "A fool has no delight in understanding, but in expressing his own heart." (Pr. 18:2).
If I delight to understand and grow, I will shut my mouth and receive correction..But if I choose to act foolish, I will open my mouth to defend and "express my own heart".
Lord, help me to be humble enough to receive your Life GIving Instruction.
"Well, I did my best." "My motives were to help." "Why can't they see I am trying?" Etc... Especially in relationships...To the conscientious person, sometimes correction can be hard to receive, because these kinds of people have already taken extra precautions to not make a mistake. When they hear their performance did not meet the mark, it can be crushing. BUT this is pride. I am learning to receive correction more willingly. Here is what I found this morning to encourage me. I will share it with you.
Psalm 94:12
Blessed is the man whom You instruct, O Lord. And teach out of Your law, That you may give him rest from the days of adversity.
When I realized "Why" God instructs me, it made me happy. He instructs me to keep me from having a train wreck "that you may give him rest from the days of adversity." And for people who have my best interests in mind, this is "WHY" they instruct me as well. After all, it would be easier for them to say nothing at all.
So Today, I want to see instruction the right way. Not as a personal attack, but as an opportunity to be protected.
Proverbs says, "A fool has no delight in understanding, but in expressing his own heart." (Pr. 18:2).
If I delight to understand and grow, I will shut my mouth and receive correction..But if I choose to act foolish, I will open my mouth to defend and "express my own heart".
Lord, help me to be humble enough to receive your Life GIving Instruction.
Wednesday, June 30, 2010
Victory Over Depression
Everyday Answers
Victory Over Depression
by Joyce Meyer
Does your happiness depend on everything in your life being just right? If you think you can't be happy until all your circumstances are right, you will never be happy. We all experience times in life when we feel down for various reasons, but we can't allow our circumstances to control our emotions. Satan seeks to fill our minds with negative thoughts and emotions that cause us to feel down. He is a discourager, and he pulls us down emotionally, spiritually, financially, and in every way he can. But Jesus is our Encourager, and He came to lift us up. He came to give us righteousness, peace and joy, and all these things cause us to feel up!
Everyone experiences times of frustration and distress over unfulfilled hopes and dreams. When things don't go according to our plans, it is normal to feel disappointment. But we must be careful how we deal with that feeling, because disappointment is the beginning stage of depression. If we remain in a state of disappointment for too long, it can turn into discouragement, despair, and finally depression. Psalm 30:5 tells us that ...Weeping may endure for a night, but joy comes in the morning. Things may make us feel sad temporarily, but we must not stay sad. Just as we cannot afford to stay mad very long, neither can we stay sad very long. If we do, Satan takes advantage of the open door and pushes his way further into our lives, bringing more serious problems with him.
DON'T TRUST YOUR THOUGHTS AND FEELINGS
Our number one enemy is emotions. We tend to be led by how we feel, but we must realize that feelings are fickle; they change from day to day! We should be careful not to follow every thought that comes to our mind because our thoughts and feelings don't dictate truth to us. For many years of my life, I experienced regular depression. I would awaken many mornings with a little voice in my head saying, "I feel depressed." I believed this was my own thought, not realizing that it was Satan making suggestions to me through my mind. Later, when God drew me into a closer walk with Him and I began seriously studying His Word, I learned that I didn't have to follow every feeling and thought that I had. I began to speak aloud and say, "I will not be depressed." I learned to put on the garment of praise spoken of in Isaiah 61:3. We may not always feel like praising, but a victorious person does not have the luxury of living by feelings.
I've learned that staying disappointed can cause me to start feeling discouraged, which is a deeper problem than disappointment. But I've also learned that you can't be hopeful and discouraged at the same time. So as soon as the devil attacks us with disappointment and we start feeling discouraged, we need to turn to the Holy Spirit and allow Him to fill us with hope. A brief period of discouragement may not have a devastating effect, but long-term discouragement can lead to depression—a very serious problem.
RESIST THE DEVIL AND REJOICE IN THE LORD!
Depression is defined in part as "a hollow; being in a low state; a state of sadness; dejection." The real cause of depression is not where we are, but our attitude about where we find ourselves. It is possible to learn to live on the other side of your feelings. We will always have feelings; they will never go away, but we can make our feelings line up with our decisions. That's why God gives us the fruit of self-control. James 4:7 tells us to resist the devil, and we must also resist depression, and anything that resembles it, because it is of the devil. Philippians 4:4 says, Rejoice in the Lord always [delight, gladden yourselves in Him]; again I say, Rejoice! If we stay filled with the right thing, the wrong thing has no place.
If you don't let the devil impress you with what he does, then he can't oppress you; and if he can't oppress you, then he can't depress you. So choose to be led by the Holy Spirit and you can have victory over depression. We can choose to keep a hopeful attitude by renewing our minds with the promises found in God's Word. We can claim the promises as our own and stand in faith, believing God to help us overcome our feelings and move forward into better things. We can't control all of our circumstances, but we don't have to let what happens today ruin tomorrow. We can actually turn things around by making a decision to let go of the situations that caused the disappointment and discouragement, and move toward the good things God has planned for our future.
Many people are depressed because they can't face truth, but the Holy Spirit came to reveal truth to us. We can't get past depression until we quit making excuses and blaming everyone else. We must face the truth and take responsibility for our actions. When we do that and ask God to help us, the spirit of heaviness leaves us and we feel light and free. Jesus tells us in Matthew 11:30, ...My burden is light and easy to be borne. Being depressed about circumstances does not change them, and it is a total waste of time and a thief of joy. So we must stop letting our feelings, mind, body, and past experiences rule us and allow God to give us a fresh plan, a new idea, a new goal! You can experience victory over your emotions by being led, guided, controlled, and ruled by the Holy Spirit, whom Jesus sent to us as our Comforter, Counselor, Helper, Intercessor, Advocate, Strengthener and Standby to remain with us forever (see John 14:16). Thank God, we don't have to be disappointed, discouraged, despondent, depressed, or in despair. Jesus is not only the Way, but He is also the way out! Jesus is our healer, our glory, and the lifter of our heads.
Victory Over Depression
by Joyce Meyer
Does your happiness depend on everything in your life being just right? If you think you can't be happy until all your circumstances are right, you will never be happy. We all experience times in life when we feel down for various reasons, but we can't allow our circumstances to control our emotions. Satan seeks to fill our minds with negative thoughts and emotions that cause us to feel down. He is a discourager, and he pulls us down emotionally, spiritually, financially, and in every way he can. But Jesus is our Encourager, and He came to lift us up. He came to give us righteousness, peace and joy, and all these things cause us to feel up!
Everyone experiences times of frustration and distress over unfulfilled hopes and dreams. When things don't go according to our plans, it is normal to feel disappointment. But we must be careful how we deal with that feeling, because disappointment is the beginning stage of depression. If we remain in a state of disappointment for too long, it can turn into discouragement, despair, and finally depression. Psalm 30:5 tells us that ...Weeping may endure for a night, but joy comes in the morning. Things may make us feel sad temporarily, but we must not stay sad. Just as we cannot afford to stay mad very long, neither can we stay sad very long. If we do, Satan takes advantage of the open door and pushes his way further into our lives, bringing more serious problems with him.
DON'T TRUST YOUR THOUGHTS AND FEELINGS
Our number one enemy is emotions. We tend to be led by how we feel, but we must realize that feelings are fickle; they change from day to day! We should be careful not to follow every thought that comes to our mind because our thoughts and feelings don't dictate truth to us. For many years of my life, I experienced regular depression. I would awaken many mornings with a little voice in my head saying, "I feel depressed." I believed this was my own thought, not realizing that it was Satan making suggestions to me through my mind. Later, when God drew me into a closer walk with Him and I began seriously studying His Word, I learned that I didn't have to follow every feeling and thought that I had. I began to speak aloud and say, "I will not be depressed." I learned to put on the garment of praise spoken of in Isaiah 61:3. We may not always feel like praising, but a victorious person does not have the luxury of living by feelings.
I've learned that staying disappointed can cause me to start feeling discouraged, which is a deeper problem than disappointment. But I've also learned that you can't be hopeful and discouraged at the same time. So as soon as the devil attacks us with disappointment and we start feeling discouraged, we need to turn to the Holy Spirit and allow Him to fill us with hope. A brief period of discouragement may not have a devastating effect, but long-term discouragement can lead to depression—a very serious problem.
RESIST THE DEVIL AND REJOICE IN THE LORD!
Depression is defined in part as "a hollow; being in a low state; a state of sadness; dejection." The real cause of depression is not where we are, but our attitude about where we find ourselves. It is possible to learn to live on the other side of your feelings. We will always have feelings; they will never go away, but we can make our feelings line up with our decisions. That's why God gives us the fruit of self-control. James 4:7 tells us to resist the devil, and we must also resist depression, and anything that resembles it, because it is of the devil. Philippians 4:4 says, Rejoice in the Lord always [delight, gladden yourselves in Him]; again I say, Rejoice! If we stay filled with the right thing, the wrong thing has no place.
If you don't let the devil impress you with what he does, then he can't oppress you; and if he can't oppress you, then he can't depress you. So choose to be led by the Holy Spirit and you can have victory over depression. We can choose to keep a hopeful attitude by renewing our minds with the promises found in God's Word. We can claim the promises as our own and stand in faith, believing God to help us overcome our feelings and move forward into better things. We can't control all of our circumstances, but we don't have to let what happens today ruin tomorrow. We can actually turn things around by making a decision to let go of the situations that caused the disappointment and discouragement, and move toward the good things God has planned for our future.
Many people are depressed because they can't face truth, but the Holy Spirit came to reveal truth to us. We can't get past depression until we quit making excuses and blaming everyone else. We must face the truth and take responsibility for our actions. When we do that and ask God to help us, the spirit of heaviness leaves us and we feel light and free. Jesus tells us in Matthew 11:30, ...My burden is light and easy to be borne. Being depressed about circumstances does not change them, and it is a total waste of time and a thief of joy. So we must stop letting our feelings, mind, body, and past experiences rule us and allow God to give us a fresh plan, a new idea, a new goal! You can experience victory over your emotions by being led, guided, controlled, and ruled by the Holy Spirit, whom Jesus sent to us as our Comforter, Counselor, Helper, Intercessor, Advocate, Strengthener and Standby to remain with us forever (see John 14:16). Thank God, we don't have to be disappointed, discouraged, despondent, depressed, or in despair. Jesus is not only the Way, but He is also the way out! Jesus is our healer, our glory, and the lifter of our heads.
Tuesday, June 29, 2010
10 Transitions for New Wine Skins
Sam & Rheba Drye are good friends of mine. Here is another great message from him.
http://www.visitsanctuary.com/podcasts/Bishop%20Sam%20060808.mp3
http://www.visitsanctuary.com/podcasts/Bishop%20Sam%20060808.mp3
Saturday, June 26, 2010
Dealing with Offenses
This is an incredible teaching by a wonderful friend of mine and my husband. Listen as he talks about offenses. How we get offended with others, and how repentance from these attitudes is not possible unless we stop placing blame on others. Lord Help me to live this way! Help me not to point my finger at others, but to say, "What is my wrong?"
http://www.visitsanctuary.com/podcasts/blog/2009/10/29/dealing-with-offenses-bishop-sam-drye/
http://www.visitsanctuary.com/podcasts/blog/2009/10/29/dealing-with-offenses-bishop-sam-drye/
Tuesday, May 25, 2010
Organizing Your Life Plan & Focus
Hello Everyone, Please go to this site http://www.thecompoundeffect.com/free/
check out the worksheets on the left side. They are FREE and they will blow your mind! Here is a list of some of the things available to you there.
Gratitude Assessment
Core Values Assessment
Life Assessment
Goal Designing
Habit Assessment
Weekly Rhythm Register
Input Influences
Association Evaluator
check out the worksheets on the left side. They are FREE and they will blow your mind! Here is a list of some of the things available to you there.
Gratitude Assessment
Core Values Assessment
Life Assessment
Goal Designing
Habit Assessment
Weekly Rhythm Register
Input Influences
Association Evaluator
Monday, April 19, 2010
Thursday, April 8, 2010
Sharma: The 8 Forms of Wealth
In my mind, wealth and leadership aren’t just about making money. There are actually eight elements that you want to make sure are at world-class levels before you call yourself rich (and truly successful).
I’ll identify them:
1. Inner Wealth. This includes a positive mindset, high self-respect, internal peace and a strong spiritual connection. It also includes clarity around your values and a fierce sense of your one-, three-, five- and 10-year goals.
2. Physical Wealth. Your health is your wealth. What’s the point of getting to a great place in your career if you get sick doing it? Don’t be the best businessperson in the hospital ward. Why be the richest person in the graveyard? Great leaders are in great health.
3. Family and Social Wealth. When your family life is happy, you will perform better at work. No one gets to the end of their life and regrets making their family a primary priority. Related to this is the imperative of forging deep connections with friends and members of your personal community, including members, role models and trusted advisors.
4. Career Wealth. Actualizing your highest potential by reaching for your best in your career is incredibly important. Getting to greatness in your profession brings a feeling of satisfaction on a job well done. It helps you make your mark. Being world-class in your work is good for your self-respect. Be so good at what you do that you leave your teammates and clients spellbound.
5. Economic Wealth. Yes, money is important. It’s not the most important thing in life, but it is very important, and it absolutely makes life easier and better. Money allows you to live in a nice home, take beautiful vacations and provide well for those you love. And so Yvon Chouinard, the founder of Patagonia, said: “The more I make, the more I can give away.”
6. Circle of Genius. You become who you spend time with, and your associations affect your mindset and performance. “Lead Without a Title” and surround yourself with exceptional people—their stardust will rub off on you.
7. Adventure Success. To be fulfilled, each of us needs mystery in our lives. Challenge is necessary for happiness. The human brain craves novelty. And we are creative beings, so we need to be creating constantly if we hope to feel joy. Lots of adventure (ranging from meeting new people to visiting new places) is an essential element of authentic wealth.
8. Impact Wealth. Perhaps the deepest longing of the human heart is to live for something greater than itself. Each of us craves to be significant. To make a difference. To know that the world has somehow been better because we have walked the planet. Think of what Richard Bach once wrote: “Here is the test to find whether your mission on Earth is finished: If you’re alive, it isn’t.” Leaders leave a legacy.
I invite you to focus on each of these eight elements if you want to experience real wealth. Money alone does not define being wealthy. There are many rich people who are unhappy and unsuccessful as human beings. By focusing on elevating all eight of these areas to world-class levels, you will not only shine ever so brightly for all those around you, but you will also find a contentment that lasts.
I’ll identify them:
1. Inner Wealth. This includes a positive mindset, high self-respect, internal peace and a strong spiritual connection. It also includes clarity around your values and a fierce sense of your one-, three-, five- and 10-year goals.
2. Physical Wealth. Your health is your wealth. What’s the point of getting to a great place in your career if you get sick doing it? Don’t be the best businessperson in the hospital ward. Why be the richest person in the graveyard? Great leaders are in great health.
3. Family and Social Wealth. When your family life is happy, you will perform better at work. No one gets to the end of their life and regrets making their family a primary priority. Related to this is the imperative of forging deep connections with friends and members of your personal community, including members, role models and trusted advisors.
4. Career Wealth. Actualizing your highest potential by reaching for your best in your career is incredibly important. Getting to greatness in your profession brings a feeling of satisfaction on a job well done. It helps you make your mark. Being world-class in your work is good for your self-respect. Be so good at what you do that you leave your teammates and clients spellbound.
5. Economic Wealth. Yes, money is important. It’s not the most important thing in life, but it is very important, and it absolutely makes life easier and better. Money allows you to live in a nice home, take beautiful vacations and provide well for those you love. And so Yvon Chouinard, the founder of Patagonia, said: “The more I make, the more I can give away.”
6. Circle of Genius. You become who you spend time with, and your associations affect your mindset and performance. “Lead Without a Title” and surround yourself with exceptional people—their stardust will rub off on you.
7. Adventure Success. To be fulfilled, each of us needs mystery in our lives. Challenge is necessary for happiness. The human brain craves novelty. And we are creative beings, so we need to be creating constantly if we hope to feel joy. Lots of adventure (ranging from meeting new people to visiting new places) is an essential element of authentic wealth.
8. Impact Wealth. Perhaps the deepest longing of the human heart is to live for something greater than itself. Each of us craves to be significant. To make a difference. To know that the world has somehow been better because we have walked the planet. Think of what Richard Bach once wrote: “Here is the test to find whether your mission on Earth is finished: If you’re alive, it isn’t.” Leaders leave a legacy.
I invite you to focus on each of these eight elements if you want to experience real wealth. Money alone does not define being wealthy. There are many rich people who are unhappy and unsuccessful as human beings. By focusing on elevating all eight of these areas to world-class levels, you will not only shine ever so brightly for all those around you, but you will also find a contentment that lasts.
Sunday, February 28, 2010
How to Evaluate Properties in 60 Seconds or Less
The 1% Rule
All you need are two numbers: the price of the property and the rental income you will get each month. If the monthly income is 1% of the purchase price then you are pretty much guaranteed a property that will cashflow.
For example, if you have a property that costs $300,000 and it gets $3,000 per month in rent, This simple calculation tells you that it is a property you'd like to learn more about. The numbers are looking really good.
If you have a property that costs $300,000 and the rent is $2,100 per month, it's hitting .7%. You might want to look into this property, but you'd do it knowing that the money will be tight. Anything lower than than .7% is going to be really hard to make cashflow without either a big downpayment, lower purchase price or higher rent.
Read more: http://www.revnyou.com/Evaluate_Properties_in_60_seconds.html#ixzz0gqphSCtD
All you need are two numbers: the price of the property and the rental income you will get each month. If the monthly income is 1% of the purchase price then you are pretty much guaranteed a property that will cashflow.
For example, if you have a property that costs $300,000 and it gets $3,000 per month in rent, This simple calculation tells you that it is a property you'd like to learn more about. The numbers are looking really good.
If you have a property that costs $300,000 and the rent is $2,100 per month, it's hitting .7%. You might want to look into this property, but you'd do it knowing that the money will be tight. Anything lower than than .7% is going to be really hard to make cashflow without either a big downpayment, lower purchase price or higher rent.
Read more: http://www.revnyou.com/Evaluate_Properties_in_60_seconds.html#ixzz0gqphSCtD
Tuesday, February 2, 2010
Wednesday, January 20, 2010
Notes from Calibrate Teachings - Credits to John Marsh
Kingdom Finances 1/12/10
If we didn't have any debt we wouldn't be in this. Debt is not bad.
Financial principles are learned. Mr. Martin got into real estate at 30 years old. Must see money in your mind first. If you can't see it in your mind, it won't show up in your pocket. Money is digital. Our belief drives our mind drives our behavior.
If you want to help poor people, don't be one first.
You Measure, You Manage, You Multiply - Money is an amplifier of your character. If your character isn't right, money will amplify it.
Hedonics- changing the way they figure inflation. Started monitoring weird items. If technology costs went down, they figured inflation was not happening. If you move inflation 1% it changes our governments money, and they have to pay more.
Inflation eats our money. If save a 1000, by the end of the year you have 900. Have 8% less than what you had at the beginning of the year.
Ask brokers- how much money are you making off your own investments and how much are you making off of mine? If they can't manage their own, they sure can't manage yours.
Dollars need to work for you.
You have a personal money management team.
Need a mix of money and time to have a life.
Need goals 1,3,5,10 year goals.
God wants multiplication.
Budget is the best way to measure money. You must know how you are spending it. Everything you buy is 40% more plus 8% more for taxes.
Impulse buying - if you can't come back a day or two later and think on it, don't.
Set measurable financial goals. How much is enough. How much does it cost me to live now? How much with the size family i am going to have? With inflation (6%-7%)/year - If i had to live off the interest from money? How much will we need? To live well and not have to work for money, how much cash will it take?
Rental is hedged against inflation. Rent climbs with inflation.
If need 5000 dollars a month. You will need 500,000 dollars worth of rental property. If property cost 100,000 then want rental to be 1,000. For every 100,000 dollars cash, 4% a year will bring in 4000.00
If you need 80,000/year cash coming in you need 2 million dollars cash.
This thing is going to come out and the people who get it aren't going to be rich, they will be really rich.
There is so much money on the side lines.
A year and over is 15%. A year and under is 25%. Primary Residence- live in it yourself for a minimum of 2 years to get no tax.
If live in it a year, you are subject to capital gains tax. If want to sell, person who is buying, have him pay an intermediary (my attorney) and attorney invest in something else i want. No tax.
Own a tri-plex and live in one of the units for two years. How did you classify it tax wise. If wrote it off as primary residence. If you wrote off some as your office, you can't count the part of your office.
Why rent and not flip? It plows you tax wise to flip. The gov't is trying to stop by legislation. Fani mae, freddi mac loan. Have to own a house for 12 months, they give the person buying it a hard time getting the loan. They are trying to stop flipping. Holding property builds your financial portfolio and net worth. We wanted long term benefits rather than short properties.
We want to be the bank. Buy and owner finance to someone.
First 5 years of a mortgage pay 55% interest.
I hope you never have a job. Work and do what you love.
1/19/10
Your home mortgage is your largest investment. 1 point on your mortgage makes all the difference (10s of 1000s of dollars)
Paying property tax is like renting. You cannot ever truly own.
Leverage is amplification and multiplication. Over leverage is horrible. Doesn't mean money was wrong but the leverage was wrong.
If you wouldn't do what you are doing for nothing, you need to ask yourself why you are doing it.
Goal: To not work for money. We want to work for influence.
Leverage tools:
Fico- Fair Issacson Corp. Score. Compiled of 3 fi. institutions. Affects your interest rate, car insurance.
How to Build your fico score- Get a secured credit card. 680 and above you can borrow money. If you don't have this your interest rates are higher.
You can give yourself a loan to get your score to come up.
Only use 40% of every card. Every % you own you do not want to exceed 40%. Get a copy of your credit report often and from all 3 bureaus.
Banks have filters on their system for pulling credit score. The banks treat not paying your house, or not paying car the same. Every time you sign up for a card it is 15 points off your credit score. This could cost you a point on your mortgage.
FICO score goes from 300 to 850. If you have no credit card they give you 15 points. If you have 1 credit card they give you 22 points. If you have 2 to 4 credit cards you get 30 points.
If you have cards you don't use, it looks like you have an available balance but you don't need it. Always keep you card below 50%.
You lose 10 to 15 points every time an inquiry was made. Tax lien, judgement, costs 75 points.
Some delinquencies outweigh other delinquencies. THe biggest thing is your mortgage. IF you miss it your rates go up in everything.
Most cards you can call every 90 days and get them to raise your limit.
Most times 680 and above you have don't even have to have a job to get a loan. All they care about is the fico.
You can't earn your way to wealth unless you make a lot of money. It is hard to have an amazing life without a lot of money.
Buy as much stuff as you want if someone else is paying for it.
Taking out a 2nd mortgage. So many people want to get rid of their homes that it has opened up the door for owner financing.
They bank will loan you 80% of your equity as a 2nd mortgage. How do i guarantee to pay you off in two years? because i am going to refi.
If you look at 100 pieces of property, then you will find 1 owner finance property.
Money can't buy happiness, but neither can poverty. Leo Rosten
Credit- You can't fix the bad. You have to put good credit in. The creditor wrote that stuff off on their taxes the first year you didn't pay and forgot about it.
Every time you make a payment on time it makes an R1. No matter the amount of credit you have, every on time payment gives you an R1- whether you have burrowed 1000 or 1,000,000.
Poverty is a curse. We are not built to be poor.
If you add users to a credit card, it doesn't affect the user at all.
Common Types of Mortgages:
Principal and Interest fixed
Principal and Interest ARM
Interest Only- ARM - just pay interest, no principal
Interest Only Fixed
Negative Amortization - every time you pay on these you own more.
Libor- London INner Bank Offering Rate - INterest rate offered by a group of London banks for U.S. dollar deposits of a stated maturity. Prime rate is the prime rate. Libor is a london rate. Everything cost 25% more in London. You can hook your loans to the Libor. If you buy a piece of property you can hook it to Prime or Libor. Prime right now is 3. Rate is based on risk.
Your bank buys money from the Fed for 3% and they charge you 7%. If they are loaning it out at 5% they are earning 2%. If you go to burrow money, ask the bank what they are paying for the money. They make a 3% margin, so if they offer you 7% and they are paying 2%, then say you need to give me 5%.
If loans are variable, you want them to have a cap.
Inflation in its current figures is around 13%.
In an interest only Arm- they have 5% set for 5 years, and then the let it go variable.
In a negative amortization or Option Arm, you have an interest rate. You pay 1/2 of the interest rate on this interest only loan as the monthly payment, and the other 1/2 is taced on to the principal due at the end.
Sunday, January 3, 2010
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