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Everyone I know is busy and are always playing catch up. I know because I too fall into this trap from time to time. Just because you’re busy doesn’t always mean your accomplishing what’s important in the life you’re trying to design.
Back in February I broke my leg and could no longer drive. Probably the worst thing that could ever happen to a Real Estate agent. “How can I get what needs to be done while being on the sideline for the next 3-4 months?” was the question I asked myself.I’m a strong believer that everything happens for a reason but how could a broken leg have a positive outcome? Here we are 6 weeks later and here’s what happened:
We launched:Deep Pockets – our new private lending company
Podcasts onto iTunes, Spotify and Stitcher
Facebook Live for our Mastermind Events
Social Events for our SHC Members and clientsI didn’t realize slowing things down by breaking my leg would allow me to become more productive over the last several weeks. Here are the top 5 things I’ve done to become more productive and less busy.
1. Have a to-do list Journal for things that MUST get done today
Now the most important word is MUST! Most people will sit down and make the list of things they need to get done but keep adding and adding and adding until the list becomes overwhelming that they don’t know where to start. Here’s what you need to do Make your list for the day, pick the top 3 things, put an asterisk beside it and avoid all distractions until they are done.
My personal example for the first week of April 2019Newsletter *
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New Mailbox for rental property2. Have a White Board in Your Office
This is probably one of the best things I’ve ever done. My whiteboard outlines my personal and business goals for the year. What do you write on your whiteboard? Simply outline what you want to accomplish for the year and the month you want to achieve your goal by. The to-do list (discussed above) is what gets me closer to my goals.
3. Time Block for Emails
Emails are the to do list for other people. One of the biggest issues I had in the beginning was working on my emails all day. I would do this when ever I felt overwhelmed. By the end of the day I was super busy, accomplished a lot of work but those were other peoples to do list. Today, I time block and only open my emails 2-3 times a day and get everything done within that window.
4. Schedule Time for Thinking
Most of the time people run from task to task and problem to problem. My time for thinking is right before I go to bed for about an hour and first thing in the morning. During these times, I’m listening to Podcasts, reading books or meditating. This is the most important time for me to realign what’s truly important in my day to day life and to learn from some of the best in the industry and my mentors.
5. Say “no”
Really think about where you can cut back. When you say “YES” to something you are saying “NO” to something else. Choose what you want to accomplish wisely. Saying yes to everything will have you working on everyone else’s goals but your own.
Focus on doing fewer things better. At the end of the day, there will always be endless amounts of work and incomplete tasks. We all have the same 24 hours in a day, use it wisely.
Gary Hibbert
[...]
Private Mortgages (PMs) are always a good option for a 6-24 month term investment option. In this BLOG we are going to give you the 101’s on private lending from a lender’s point of view and why we invest in this product.
Why Borrowers Go Private?
While there are many other options for borrowers- banks, credit unions, alternate lenders etc. there’s a few reasons why a borrower might need a private mortgage.
Income Qualification– Some borrowers may have difficulty meeting the income qualifications if they are self employed, commission based or even hourly. PMs offer flexibility with income qualifications as they have the ability to go outside the typical income guidelines.
Credit Score– Many borrowers on the PMs side have flawed credit. This could be do to a number of reasons but the bottom line is they don’t qualify on the bank or alternate side.
What Does a Lender Need To Know?
How to Determine the Loan Amount. This is one of the most important part of the deal to pay attention to!
The maximum most private lenders will go to is between 75%-80% loan to value. This means the borrower has enough equity in their property to allow for the PMs. They must also be able to service this loan. Can you go higher as the lender? Absolutely, but keep in mind you are now moving into riskier territory.
How Much Will It Cost Me?
Actually, it shouldn’t cost you anything. Borrowers pay all the fees and costs to obtain the mortgage. They will be paying the legal fees, appraisal fees, lender fees and sometimes even broker fees. Keep in mind if you are using your RSP’s or locked in funds, you might be subject to admin fees from the Trust Company.
Who Determines the Interest Rate?
The interest rate is determined by a number of different factors, relative to the risk. The riskier the deal the higher the rate. Some factors to consider would be; “What is the Loan to Value?”, “What is the credit score?”, “Is their income stated or salaried?”. Typical lender rates range from 10%-15% again, based on the risk and term.
The Bottom Line
Private Mortgages are a medium risk investment. It is best to partner with an individual who understands how to assess the risk and has the platform to view credit reporting, current liabilities and lending ratios.
Reach out to us if private lending is of interest to you.
Darlene HibbertCOMING SOON! [...]
This summer I hit a low spot in my life. It’s tough to actually admit it but I thought I should be real with you. Let me try my best to explain the situation I’m in and how I’m feeling.
• I haven’t felt motivated or driven like I did when I first started Smart Home Choice.
• No longer pumped and excited when I jump out of bed in the mornings.
• Was ready to call it a day at 5pm instead of doing what it takes to get it done.
I know I’m sharing some DARK moments with you but I’m sure you’ve felt like this before as well.
It doesn’t matter, if you’re at your job, starting a new project at home or just life in general. Sometimes it becomes draining because you feel like you have no direction. I usually don’t stay in this arena for very long and had to take a step back and analyze what was going on.
Why was I feeling like this, what changed?
Once I was able to get to my place of quietness I discovered something… something that I did in the beginning of this journey… something that I had stopped doing. At first it didn’t make sense. I came to realize that it was only 2 things that changed to make me feel this way. The more I dewelled on it the more I realized the fix was easier than I thought.
I began to incorporate these missing things back into my life:
1. Reading new books
2. Listen to new podcasts
Making time to read new books and to listen to new podcasts to keep me inspired. I was slowly killing my creative spirit and got into the rut of where I was at my old 9-5 job. Doing the same thing over and over again, day in and day out.
I was starting to feel complacent. Sitting at my desk and some days feeling like I was going around in a circle and not ever getting anything completed.
I hope I’m not alone in this… if I am, I’m starting to feel a bit embarrassed but if you’ve felt like this before, let me share some more with you.
Half the battle is recognizing you’re in a downward spiral. The other half is working on a plan to change it.
There was one other important thing that I had stopped doing which was one of the main reasons I enjoyed the journey from Corporate to becoming an Entrepreneur.
3. Connecting and networking in the Real World
Going out and meeting new people, sharing new business ideas, inspiring others over lunch or dinner with a glass of wine. During my quiet time, I found out what really drives me; The message of HOPE. To inspire others that if I can do it so can you, all you have to do is BELIEVE!I began to incorporate these back into my life.
Guess what? I’m starting to feel like my old self again.I’m feeling inspired and ready to take on the world again. We’re expanding and bringing in new agents, creating new videos and blogs, webinars, tours, and so much more.
I’m feeling alive again and here’s what I did to find myself. It’s very simple but incredibly effective.
Take time out of your busy life to sit in silence and find yourself. I like to listen to meditation rhythms with the river running in the background and birds chirping. It helps me to remove myself from the hectic noise of life and look within.
This is all you need to do to get started.
Your smart phone, earphones and YouTube to find something that will relax your mind and to centre yourself. By doing this simple exercise and incorporating it into my life I’m refocused and feeling better than ever.
I now know what I need to be focusing on for the coming year to be a better me for you.
Breath deep… exhale, be strong and always be taking action!
You can’t change your destination overnight but you can change your direction – Jim Rohn
Gary Hibbert [...]
NO!!
Don’t try to time the market. Spend time in the market.
I tried timing the market back in my 20’s and 30’s and every time I thought I figured it out… the market gave me a well deserved a$$ kicking!
On the other hand,
I know a few people that have accomplished this incredible feat of timing the market but when I ask them how they were able to do it, here’s the response I got:
“Honestly, I was lucky!”
Seriously, that’s the best answer you can give me?!
But it’s true! No one can consistently time the market and know when it’s going to take a downward turn or sky rocket up.
After years and years of research I came to this conclusion: There is no magic formula, meditation ritual or howling at the moon that will allow you to predict what will happen in the future and time the market.
There is however another secret formula I discovered a few years ago from one of my early mentors and it goes like this:
“When others are greedy be fearful and when others are fearful be greedy!”
Many are very fearful right now and now is not the time to be procrastinating!
WHY?
Interest rates are going UP, prices are going DOWN and many people are now on the sidelines watching the game with a water bottle in hand wondering who’s going to win. Will the downward trend continue or will we see a reverse and a move towards upwards pressure.
Honestly, in my opinion it doesn’t matter which way the market is going. The key is to be strategic, and find a cash flowing property in an area that has the right economical fundamentals.
Here’s my advice…
Jump back on the field, score as many goals as you can while everyone else is on the sidelines watching.
You might as well, there aren’t that many players on the field right now!
Gary Hibbert [...]
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