Video production studio for rent

Sep 5th, 2010Comments Off on Video production studio for rent

Executec Suites

This studio is available for rent at 67 Buck Road, Huntingdon Valley PA 19006, for only $25.00 per hour. Call me at 267-988-0100 to reserve it.

Developing the Entrepreneurial Spirit in Children

Sep 3rd, 2010174 Comments

I love the business that I’m in, and while there are a lot of ways to make money in this world, I happen to think this is one of the best. I very much want my son to follow my footsteps into this business. My son is currently twelve, but I already had countless discussions with him about the real estate business. Over the summer in between school, I was working on several flips, and I required him to work a minimum of four hours a week at my buildings. I paid him well for his time showing him what hard work paid. I had him painting doors and doing various projects. I’ve always believed that construction is an essential component to being a landlord. When you’re coming up in the business, you need to learn how to fix things even if you intend to hire people to do it. The knowledge and skills have been priceless in my career, as I still to this day build a kitchen from time to time.

I work too hard for my money and have too much respect for my nest egg to see it go to waste if my son is not focused on going to college. I’d hate to spend $50,000 a year so he could smoke pot and chase girls and get mediocre grades. I would demand that he does much better than that for a return on my investment of $50,000 year. If he has no desire to attend college, then I would offer him a plan I call entrepreneur 101.

Entrepreneur 101 assumes that college costs $50,000 year for four years giving you a $200,000 investment in your son’s education. Why not use that money to buy a $1 million apartment building with say fifteen units in it. I could buy an apartment building and have my son work there. As he learns about construction, communication with tenants, sales as he rents apartments and all the other various things that you learn when you manage a piece of commercial real estate. If he does well there, I could offer him a piece of the building, and if he doesn’t do well there, he could take the low road and my money didn’t go to waste.

I want my child to grow up to be an entrepreneur who steps up to be a man and make something of his life like the millions of Americans before him. To me American ends in “I can,” and I believe that I can do anything if I set my mind to it. Working for yourself is one of the greatest experiences you can ever have, and being your own boss provides you with rewards you will experience every day for the rest of your life. No matter how much money you make if you’re an entrepreneur who works for himself, I think you can guarantee you will be happier and healthier as your stress levels will drop off significantly.

Working for somebody else can be incredibly stressful, and when you throw in all the office politics, it’s enough to make you nuts. I went to college for engineering and worked as an engineer for ten years as well as a salesman for ten years. So even though I worked in the corporate world for twenty years, my heart was always in being an entrepreneur. These ideas don’t come without some effort. Your children need to be taught how to be entrepreneurs, and they need to be taught an entrepreneur’s attitudes toward business. They certainly won’t be taught this from some unionized teacher in a public school system that never made a payroll in their life. They need to be taught this by you and they need to see this lifestyle lived by you as an inspiration for them to enter into a business like the real estate business.

On the flip side, I don’t want some liberal professor who spent his whole life going to college and then working in a college messing up the way my son’s thoughts are processed. I’ve met more than my share of professors, and I think many of them have a liberal attitude in politics and an elitist attitude in general. I want my son to be inspired by business people who made their bones in this world by working hard and taking chances to become something. I don’t want a liberal professor who never had to make a payroll in his life explaining to my son how the business world works because he has no idea how it really works. If he had any real business skills along with the guts to make it happen, he would not be teaching it. He’d be doing it. Capitalism is not a dirty word in my house, and lame liberal attitudes along with overreaching government officials are something we strive to fight.

Writing this book is another way of getting through to my son. First of all, I can make it mandatory reading for him easily since he has read many books for school. His school requires him to read twenty-five books during the school year, so this one will surely be on his list. The second idea is what if I fell off a cliff tomorrow? My wife would see to the business and raising my son, but only I can communicate to him my theories on real estate as I have written in this book. He would become an owner one day of some real estate, and this book may get him off on the right foot. Go out of your way to be your children’s professor of entrepreneurism and help them to develop the much-needed spirit in their hearts.

The Theory of Association

Sep 2nd, 20103 Comments

You become the average of the five people you spend the most time with is the basis of the theory of association. The idea is really simple. If you spend time with people who read books and are successful business individuals, chances are you will read more books and strive harder to be a successful businessperson. If you hang around with people who spend most of their time bowling and drinking beer, chances are your average will go up as well as your weight from all the beer you’ll be consuming. The tape was suggesting that I search out some new friends who were more successful than I was so that I could learn from them and hopefully allow some of their positive characteristics to rub off on me.

The hardest part about the theory of association is the disassociation with individuals who don’t have a positive impact on you. You can still associate with these individuals, but the tape suggested that you put a conscious effort into spending less time with people who have a negative impact in your life. Around this time I took a long hard look at the people I was associating with and determined that I would have to disassociate with almost every person I knew. I found myself with a list of only one friend whom I mentioned earlier in this book. It was my friend Steve from the mortgage business. If the theory of association suggested you become the average of the five people you spend the most time with, then I needed to find four other people to associate with. I decided to accomplish this task by looking for some new friends.

Don’t Make Too Much Money

Sep 1st, 20109 Comments

Addicted to real estate

I just met a woman last night at a real estate meeting who wants to become a real estate investor. She said that she had to do it without the support of her husband. When I asked her what kind of real estate investing she would like to do, she told me she wants to flip a home. This of course sent me right into my opinion that flipping is not real estate investing, and as I dug further into her story, I found many more things that she needed to be corrected on. She had a well-paying job and so did her husband and they also have $400,000 in equity in their primary residence and home equity line of credit on that residence already set up. She also has $65,000 in cash to work with if she found the right real estate investment to put the money into.

Flipping homes can be difficult work with very labor-intensive tasks involved, and it takes a confident aggressive person to see one through successfully. If you plan on running one with various contractors without actually picking up a hammer, your chances of issues increase. But considering she’s in a situation where she has all the money she needs right now, why does she need to do a flip?

I quickly told her my theory on buying an inexpensive investment property for a buy-and-hold strategy and see if she likes the business. She has enough cash to go out and buy the home for cash followed by doing the repairs and renting the place out and then setting it up for a cash-out refinance. If she bought this book and followed that technique, she might end up owning that home for no money down and completely replenishing the home-equity line of credit allowing her to turn around and do the whole thing again. Her biggest problem with that strategy is my book isn’t finished yet. Everything else I laid out in that strategy will be easily accomplished with the help of an experienced person like me, and she already knows me and has my business card.

Sell the People Who Are Trying to Sell You

Aug 31st, 2010548 Comments

Addicted to Real Estate

We all have seen signs in the front of office buildings that say no soliciting. The front of my office building has no sign, but I say yes to solicitation because I am going to sell the people who are trying to sell me. I almost always take time to meet the sales people who stop into my office building, and I tell them they have ten minutes to give me their story. Then I turn the tables on them and take ten minutes to tell them about my business and my story. You never know how planting a seed in someone’s mind can lead to a deal for an answering service client, a mailbox, or an office rental. I call it selling the people who are trying to sell you or turning the tables on the salesman.

You have got to have a little fun when you’re out in the business world working, and I have to admit that this is not only smart but it’s very fun. Some of these guys don’t know what hit them when they walk into my building and I give them the ten minutes and immediately take them for a tour and show them what I’ve got to sell. I also offer them commission so they can earn money by telling other people about my building.

Page 54 of 56« First...304050«5253545556»