I was going to include this in the last post, but forgot.
In about 35 to 40 days (we're working feverishly on it, against deadlines right now), I've got a HUGE announcement to make linked directly to Real Estate Investing for Busy Dentists and other Professionals.
I'm completely stoked about it and can hardly wait. Stay tuned, I have it planned for right after Christmas...
Best, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Monday, November 26, 2007
2 Weeks is too long!
It's been almost two weeks since I last posted. Geez, feels like confessional!
Well, as you might imagine, a lot has happened and does happen to all of us in a 2 week period of time.
Let's see...
1) We had a major holiday
2) We all survived Black Friday and Cyber Monday
3) I held my last-ever real estate boot camp for busy dentists
5) Closed on a 6-plex with LOS Members (The Andersons & The Mahoneys)
6) Opened escrow on two other deals
7) Bought a house on a short-sale (I even held the second and paid less this time than the first time I bought it! Not hard in today's market and I bought it well the first time!), had it staged, and, it's being shown regularly - by itself and without me even being involved
8) Revived two commercial deals
9) Analyzing about a dozen rentals in Iowa
10) The 2nd Dental Assisting School class for Willamette Valley Dnntal Assisting School started (The 3rd kicks off in December) - check out the site: www.wvdas.com
11) I had a close relative, my grandmother June, pass away on Turkey Day
12)...there's more, but...Good enough.
Tonight's post is really all about getting things done.
I recently told 2 different groups of dentists totalling about 200 my thoughts on lack of time/shortage of...
Basically, one not having enough time to get done what they want to boils down to not having enough money to make the time available.
There's another way to look at this: If you had all the money you needed, you'd likely very quickly figure out how to better manage your time, right? I mean, why would you waste one minute on things you couldn't stand doing or really, had no right doing in the first place?
You have NO choice but to take command of your own time. This is one area of your life, during your work day, you SHOULD DEMAND that it be respected and utilized to the highest and best use at all times.
If you fail to take control of your time, money and opportunities will remain just out of reach.
If your goal, right now, is to develop a sideline business like real estate investing or like a dental assisting school (see my friend Richard Erickson, DDS - the dental assisting school originator - email him at re777@comcast.net and tell him Jerry sent you), you will no doubt have to make time somewhere some how, or spend the money to have someone else spend their time getting these businesses set up.
I guess my point here is simply this: If you think you don't have time to do something like invest in your future and insure yourself against having to rely on disability funds should you become injured or unable to practice, you're right.
If you THINK you have time and can squeeze it in somewhere, guess what? You're Right!
Now...Go Make an Offer!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Well, as you might imagine, a lot has happened and does happen to all of us in a 2 week period of time.
Let's see...
1) We had a major holiday
2) We all survived Black Friday and Cyber Monday
3) I held my last-ever real estate boot camp for busy dentists
5) Closed on a 6-plex with LOS Members (The Andersons & The Mahoneys)
6) Opened escrow on two other deals
7) Bought a house on a short-sale (I even held the second and paid less this time than the first time I bought it! Not hard in today's market and I bought it well the first time!), had it staged, and, it's being shown regularly - by itself and without me even being involved
8) Revived two commercial deals
9) Analyzing about a dozen rentals in Iowa
10) The 2nd Dental Assisting School class for Willamette Valley Dnntal Assisting School started (The 3rd kicks off in December) - check out the site: www.wvdas.com
11) I had a close relative, my grandmother June, pass away on Turkey Day
12)...there's more, but...Good enough.
Tonight's post is really all about getting things done.
I recently told 2 different groups of dentists totalling about 200 my thoughts on lack of time/shortage of...
Basically, one not having enough time to get done what they want to boils down to not having enough money to make the time available.
There's another way to look at this: If you had all the money you needed, you'd likely very quickly figure out how to better manage your time, right? I mean, why would you waste one minute on things you couldn't stand doing or really, had no right doing in the first place?
You have NO choice but to take command of your own time. This is one area of your life, during your work day, you SHOULD DEMAND that it be respected and utilized to the highest and best use at all times.
If you fail to take control of your time, money and opportunities will remain just out of reach.
If your goal, right now, is to develop a sideline business like real estate investing or like a dental assisting school (see my friend Richard Erickson, DDS - the dental assisting school originator - email him at re777@comcast.net and tell him Jerry sent you), you will no doubt have to make time somewhere some how, or spend the money to have someone else spend their time getting these businesses set up.
I guess my point here is simply this: If you think you don't have time to do something like invest in your future and insure yourself against having to rely on disability funds should you become injured or unable to practice, you're right.
If you THINK you have time and can squeeze it in somewhere, guess what? You're Right!
Now...Go Make an Offer!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Monday, November 12, 2007
An Lesson from Lt Col Oliver North
This past Saturday I had the distinct pleasure of having dinner and sharing the stage with Lt. Col. Oliver North.
My good friend, Troy Skeen, the co-founder of Nehemiah's Ranch for Youth (you HAVE to check out his site: http://www.ranchforyouth.com), had Col. North speak at his 1st Annual Ranch for Youth Fundraiser as the keynote speaker. The Col. and I were on-stage together to brow-beat some well-to-do folks here in Salem to donate to the most worthy cause: Children, Our Future Hope.
The Col. is an upstanding guy, funny, entertaining and one of the things I really liked about him: he was not afraid to ask the crowd for money!
Anyway, at dinner, he and I talked about how one of the most valuable arrangements folks like you and I can get involved with are "groups."
I don't mean like a "user group" on the internet, or a gang.
He talked specifically about how a lot of men could avoid being in situations that caused them grief, harm and money if they stayed away from the beginnings of problems and fought hard to avoid 'em all together. His example was men's groups - for instance, he's been meeting the same group of men, on Tuesday mornings, for years.
They all share their battles, frustrations, hopes, triumphs, etc. and keep each other honest, on the straight and narrow and...they force, yes, FORCE accountability.
So, when one strays, they are ALL on him; to get him "righted" (like a ship that's rolling and pitching in rough seas), and to show some tough love.
I told him I was and had been involved in mastermind groups that functioned in much the same way in business.
I can't think of a better use of one's time with others than in a mastermind format.
This week in Orlando, at the 3rd and Final Real Estate Investing Boot Camp for Busy Dentists, I'll be going into a lot of detail on several case studies of projects that are coming to fruition right now and some that are finished - including 318 18th Street, a 6-plex purchase with 3 of my LOS Program students, Dr. Tim Mahoney, Dr. David and Laura Anderson - we certainly used and are profiting from the Mastermind concept on this project, for sure! My Raw Land and Commercial Property Look-over-the-Shoulder (LOS) Program provides some of that, but on/in a much more (for better or for worse) relaxed setting.
I've got more lessons from Col. North I'll share on future posts. If you haven't checked out his books, pick up War Stories.
It was an honor to have spent time with him on the 232nd Birthday of the US Marines, too. BTW: to you Marines out there, Happy Belated Birthday! And, as we close out this most fortunate day here in the U.S., a HUGE heart-felt THANKS to all the former and current men and women who have and are serving in the US Military - and, to my dad, Dennis, of course :)
Now...Go make an offer!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
My good friend, Troy Skeen, the co-founder of Nehemiah's Ranch for Youth (you HAVE to check out his site: http://www.ranchforyouth.com), had Col. North speak at his 1st Annual Ranch for Youth Fundraiser as the keynote speaker. The Col. and I were on-stage together to brow-beat some well-to-do folks here in Salem to donate to the most worthy cause: Children, Our Future Hope.
The Col. is an upstanding guy, funny, entertaining and one of the things I really liked about him: he was not afraid to ask the crowd for money!
Anyway, at dinner, he and I talked about how one of the most valuable arrangements folks like you and I can get involved with are "groups."
I don't mean like a "user group" on the internet, or a gang.
He talked specifically about how a lot of men could avoid being in situations that caused them grief, harm and money if they stayed away from the beginnings of problems and fought hard to avoid 'em all together. His example was men's groups - for instance, he's been meeting the same group of men, on Tuesday mornings, for years.
They all share their battles, frustrations, hopes, triumphs, etc. and keep each other honest, on the straight and narrow and...they force, yes, FORCE accountability.
So, when one strays, they are ALL on him; to get him "righted" (like a ship that's rolling and pitching in rough seas), and to show some tough love.
I told him I was and had been involved in mastermind groups that functioned in much the same way in business.
I can't think of a better use of one's time with others than in a mastermind format.
This week in Orlando, at the 3rd and Final Real Estate Investing Boot Camp for Busy Dentists, I'll be going into a lot of detail on several case studies of projects that are coming to fruition right now and some that are finished - including 318 18th Street, a 6-plex purchase with 3 of my LOS Program students, Dr. Tim Mahoney, Dr. David and Laura Anderson - we certainly used and are profiting from the Mastermind concept on this project, for sure! My Raw Land and Commercial Property Look-over-the-Shoulder (LOS) Program provides some of that, but on/in a much more (for better or for worse) relaxed setting.
I've got more lessons from Col. North I'll share on future posts. If you haven't checked out his books, pick up War Stories.
It was an honor to have spent time with him on the 232nd Birthday of the US Marines, too. BTW: to you Marines out there, Happy Belated Birthday! And, as we close out this most fortunate day here in the U.S., a HUGE heart-felt THANKS to all the former and current men and women who have and are serving in the US Military - and, to my dad, Dennis, of course :)
Now...Go make an offer!
~Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Thursday, November 8, 2007
The "Funk" Is Hangin' Around
I just talked to my Dad, Dennis. He and my mom are in Florida - a little in advance of the event that starts next week (Still time to register you know?!).
As he's driving from Orlando to the Tampa area, he calls.
"Jerry, you wouldn't believe all the construction going on down here! It's a snowbird's dream! There are HOUSES for under $100,000!"
He goes on to tell me that what the media would have us believe seems to pervade and influence a lot of people - sadly, the vast majority - rather than say "SCREW IT!" and make decisions about the state of "things" on their own.
It's dangerous to rely on the news media for happiness. They sell GORE, bad news, and prey on stories that speak to gloom and doom.
I mean really, just how dang many reports do you see about HAPPY events? Positive breakthroughs in business and so on?
FEW if any. Comparatively, 90% of the news on TV and other media outlets is negative.
This comes back to one thing: You must CONTROL the mood. Not just yours, but your pts, your friends, family and others. You must be a POSITIVE influence on what's GOOD that is happening and focus on that.
No matter what we do, CRAP happens and will continue.
But, to survive, thrive and KICK BUTT in business and personally, you have to focus on the good, the positive, the excellence around you.
Go kick some butt. Make an offer. Buy some property. Sell some property. MAKE something happen; stimulate your local economy.
Adios, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
As he's driving from Orlando to the Tampa area, he calls.
"Jerry, you wouldn't believe all the construction going on down here! It's a snowbird's dream! There are HOUSES for under $100,000!"
He goes on to tell me that what the media would have us believe seems to pervade and influence a lot of people - sadly, the vast majority - rather than say "SCREW IT!" and make decisions about the state of "things" on their own.
It's dangerous to rely on the news media for happiness. They sell GORE, bad news, and prey on stories that speak to gloom and doom.
I mean really, just how dang many reports do you see about HAPPY events? Positive breakthroughs in business and so on?
FEW if any. Comparatively, 90% of the news on TV and other media outlets is negative.
This comes back to one thing: You must CONTROL the mood. Not just yours, but your pts, your friends, family and others. You must be a POSITIVE influence on what's GOOD that is happening and focus on that.
No matter what we do, CRAP happens and will continue.
But, to survive, thrive and KICK BUTT in business and personally, you have to focus on the good, the positive, the excellence around you.
Go kick some butt. Make an offer. Buy some property. Sell some property. MAKE something happen; stimulate your local economy.
Adios, Jerry
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Friday, November 2, 2007
How to Start Small w. Little Risk and More...
A few weeks ago, I rec'd this very good question about Options from a new LOS Member I thought you might find beneficial...
Q: if i start with options [using to buy properties]: who sits during the closing, the owner and the buyer, since i don't really own the property? if so, does the owner then find out that i sold the property for a higher price?
A: Keep this in mind: You are in business to make money and it's ok that you make a lot of it. Never worry about what a new buyer might think, etc. as they have no earthly idea what you did or how much you may or may not have spent to get the property or get it in the shape it is in. most folks already think, as a dentist, that you get paid too much, not realizing the risks, overhead, liabilities, etc. you face. so...this probably won't be anything new for you! ok...
When you get an option on the property, there is more than one way to close the deal.
Here's what we do: We close on the house, exercising our option. We then, in another room, 2 minutes away (or in the same room) sign the paperwork to sell the house to the new buyer. this is called a simultaneous closing.
There is another way to do this too, and it has to do with "converting" the option to a lien (like a 2nd or 3rd mortgage type deal) on the property and basically, assigning the option to the new buyer and when they close, your lien is paid off (what your expected profit is is the lien amt) at closing and it's shown on the HUD-1 as a lien to satisfy prior to closing.
I don't go to closings unless I have to, and it's been some time since then. I have the paperwork emailed to Melody in my ofc, review it, sign it, have her notarize it and have her take it back to the title co or overnight it, depending on the location. On simultaneous closings, as in the example above, where you close on the purchase, then, turn and close on the sale, are done the same way...The title ofc records the purchase by me first, then the sale by me, second.
~Jerry
P.S. Still time to register for the Upcoming and Final Real Estate Boot Camp for Busy Dentists...See the link below. Time is short!
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Q: if i start with options [using to buy properties]: who sits during the closing, the owner and the buyer, since i don't really own the property? if so, does the owner then find out that i sold the property for a higher price?
A: Keep this in mind: You are in business to make money and it's ok that you make a lot of it. Never worry about what a new buyer might think, etc. as they have no earthly idea what you did or how much you may or may not have spent to get the property or get it in the shape it is in. most folks already think, as a dentist, that you get paid too much, not realizing the risks, overhead, liabilities, etc. you face. so...this probably won't be anything new for you! ok...
When you get an option on the property, there is more than one way to close the deal.
Here's what we do: We close on the house, exercising our option. We then, in another room, 2 minutes away (or in the same room) sign the paperwork to sell the house to the new buyer. this is called a simultaneous closing.
There is another way to do this too, and it has to do with "converting" the option to a lien (like a 2nd or 3rd mortgage type deal) on the property and basically, assigning the option to the new buyer and when they close, your lien is paid off (what your expected profit is is the lien amt) at closing and it's shown on the HUD-1 as a lien to satisfy prior to closing.
I don't go to closings unless I have to, and it's been some time since then. I have the paperwork emailed to Melody in my ofc, review it, sign it, have her notarize it and have her take it back to the title co or overnight it, depending on the location. On simultaneous closings, as in the example above, where you close on the purchase, then, turn and close on the sale, are done the same way...The title ofc records the purchase by me first, then the sale by me, second.
~Jerry
P.S. Still time to register for the Upcoming and Final Real Estate Boot Camp for Busy Dentists...See the link below. Time is short!
Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com
Thursday, November 1, 2007
Hillary in 2008?
I pose some very provocative questions in today's BLOG post...about real estate investing and your future should Hillary be successful for her bid for the Presidency...Ugly questions, but certainly necessary...Best, Jerry
A remembrance...Dr. Eugene Chrowl
I'll keep this post short and sweet. The United States Dental Community (and it's a small, tight-knit one as we all know) has lost one of its own: Dr. Eugene Chrowl of Klamath Falls, Oregon.
Dr. Chrowl has been a loyal client of mine for close to five years and was a one of my Commercial Property & Raw Land Look-Over-The-Shoulder members.
He will be missed by his family and loyal patients.
Our sincerest condolences to Dr. Chrowl's family...
~Jerry
Dr. Chrowl has been a loyal client of mine for close to five years and was a one of my Commercial Property & Raw Land Look-Over-The-Shoulder members.
He will be missed by his family and loyal patients.
Our sincerest condolences to Dr. Chrowl's family...
~Jerry
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