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From Bill's Desk...
From
Bill's Desk is the blog by the man himself. In each newsletter we will
highlight a new article from this section. Simply go to www.landtrust.net/bills_desk/ to read previous post.
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BLUEPRINT FOR SUCCESS by Roberta Standen
BLUEPRINT FOR SUCCESS
by Roberta Standen - Equity Holding Corp
What’s Around You –
Is You
When you start something new, begin a
new job or embark upon a new venture, it’s just plain unfortunate
how FEW people will encourage you by saying “Go for It - you’re
gonna’ be Great.” It never ceases to amaze me, when you finally
decide to step up and away from the ordinary, how few there are who
will say “You can do it!” More than likely what you hear is “It
won’t work”. Even when you have a small measure of success, they
are all too quick to tell you that “It won’t last”. We prefer
to call them “the destroyers in life”. All too often we find
they are people closest to you - a friend, a relative or a business
associate. They probably tried something once and things just didn’t
work out so they quit.
It is important to understand early in
your career that you will be dealing with people and recognize them.
They are identified and featured in the bible - Book of Job as
“Comforters”. Run from them. If you don’t and you stay around
them long enough you will succumb to their influence, become just
like them and go right down the tubes alongside them. Rarely do they
share your quest for financial independence so stay away and weed
them out of your life. In my career, I have seen Real Estate Agents
come out of a Sales Rally all fired up, ready to move mountains and
motivated to break every sales record only to fall prey to one or two
of these “destroyers” before they even reach their car in the
parking lot. Negative people can just suck the enthusiasm,
motivation and hope right out of you – Avoid them like the bubonic
plague – it’s contagious!
Be aware, when two people get together,
either you will influence them or they will influence you…that’s
just the way it is. So, the trick is to surround you with people who
refuse to be defeated, who have stood the watch, are enormously
successful; with those who refuse to accept failure and display a
healthy positive attitude. This isn’t to say you will not
encounter problems, you can bet you will. When you do, resist the
temptation of seeking advice from someone having the same problem,
but have no solution. In other words, refuse to dance with those who
cannot even hear the tune or know the “beat” of knowledge and
success. Rather, seek the advice and counsel of people who will tell
you the truth, who are experienced and find joy in helping you and
others, succeed.
Fortunately, there always was and
always will be a scant “handful” of these wonderfully successful
and willing people. These successful souls simply do what they have
to do on a daily basis; they have a specific goal in mind, kept their
eye on the prize, instigate a plan of action in accordance with the
training they received, have taken the time to learn about the
business and realized that successful people do the things that
failures hate to do. They don’t need a peer group; they don’t
even look down or around. They just keep focused, learn from their
mistakes and get up one more time than they fall down.
So, why not get in the habit of
surrounding yourself with these successful people? When you do,
glance in the mirror one morning and you will clearly see that
“What’s Around You, Is You. You will really like
what you see….I guarantee it!
Value has no form and substance in and of itself it is purely a mental concept existing
only in the minds of the person. The measure of the so-called value of a thing is the
degree of sacrifice which one will make in order to acquire control of the use or
ownership of that thing versus the personal concept (on the part of the person
conveying that control) of the degree of benefits being given up. Sacrifice and benefits
may be described In terms of money, time, promises, peace of mind, pride or any number of
other concepts. To a disinterested bystander, there may seem to be no reasonable
relationship between the sacrifice made to acquire and the benefits surrendered by
conveying. On the other hand, to the acquiring and conveying parties, the relationship
between sacrifice made and benefits acquired will be perfectly equitable.
In terms of the value or cost of our time, typically we apply the principle
of the Economic Trilogy to determine the "True Cost" of Time. Let me explain. In High
School Economics 1A, we are first introduced to the principal of Economic Trilogy (Utility,
Choice and Cost) with the concept that everything has a Use. Example: A table can be used
to eat on, play cards on or dance on, BUT you can only use the table for one thing at any
given time. This fact requires a decision or a Choice to determine the Use. The true
"Cost" or "Value" of the Use then, is simply the "Giving Up" of the next highest
alternative.
So the application here is quite simple. We all have the same amount of time, we can only
use it for one thing at a time, and the true cost of taking the time to do the things you
have to do in the business to be successful is the giving up of the next highest
alternative.
Real estate cannot have value in the strict sense of the term, since value cannot be an
inherent quality of any object. The mere existence of a thing is not sufficient to create
value in it. Value must be related to the people and their circumstances. For example: A
value of a gallon of gas at the gas pump of say, $3.57 could very well be worth $500.00 to
the person who has run out of gas in the Mojave Desert on a scorching hot day in July.
We have heard many times - find the pain - determine the reason the owner is selling. Their
motivation will determine the degree of sacrifice needed for them to receive the benefits.
The value of Real Estate is the degree of sacrifice, which one will make in order to
acquire control of the property, verses the personal concept on the part of the person
conveying that control of the real estate in terms of the benefits they are giving up.
Circumstances and Choices, not innate objects create value. Therefore, he who refuses to
recognize his own true circumstances and his alternative of choice in acquiring or
conveying the control of the use or ownership does himself a grave disservice and has
forgotten basic concepts in negotiations - and well as in life.
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MEET OUR STAFF
by Linda Roberts - NARS
In my past life, I was
a newspaper publisher and I am used to speaking out in print. So
when I came to work for NARS in December I was looking for a nice
quiet little niche that would allow me to just do accounting work –
a change of pace from the hustle and bustle of a small newspaper
where I had to wear many hats, sometimes all at once.
At my interview Bill
asked me if I new much about trusts and what NARS is all about and I
said no, but I did know a few things about trusts as my MBA would
attest to. I was immediately fascinated with the trust system and
how it worked and was hooked from the very first.
So I accepted the
position and start going to the seminars, reading all the same
materials and start looking for properties just as you are. I find
the FSBO’s and bring the leads to Bill. Bill says, “they’re
yours and you call.” Come to find out picking up the phone and
calling these strangers was absolutely the most frightening thing I
have ever done in my life. Talk about being paralyzed with fear!
I was absolutely catatonic!
One thing about Bill,
he doesn’t cut me any slack just because I work here, so one day he
told me to go and call and he insisted that I do it. After much
grumbling, I did. I called all eight leads that I had that day and
thank the stars above I got answering machines. What a wonderful
invention! I didn’t really appreciate them fully until right at
that moment.
The last call was
actually answered by a live, breathing person and because of the
seven calls before I had practiced with the script, I was able to
answer him and all his questions. I don’t think this deal will
fly, but not because of what I said or didn’t say. It was because
the house was his mother's and she had just passed away; he was
fixing it up so no one would see the disrepair. When I said that we
could get a RB (Resident Beneficiary) in there that might fix it up,
he was shocked and said he had to fix it for his mother. In this
case I know that he may never sell that house, but at least it isn’t
because of what I said or didn’t say.
One of my calls was
for a lease option and I changed the script to reflect that rather
than using the For Sale by Owner script. Left a message for the
person to call me back (gotta love those answering machines) if
interested, and sure enough he did. Since this was a $1.4 million
house in an exclusive area I thought it might be better for
fractionalization and again wanted to bail out and let Bill handle
this. Of course Bill said, “No way!”
I live about 30 miles
from the office so when the call came in, I answered and when I found
out who it was, I thought CRUD, what am I going to say now, and also
thinking that I am going to strangle Bill in the morning. I did the
first thing that came to mind and said I was on my cell phone and
traffic was impossible so could we talk later? And of course he said,
“ok.” So I’m thinking and subconsciously hoping that this guy
won’t call me back.
I pull into my
driveway and guess what? My phone rings and apparently I had had
time to sort out what to say because I think we had a very good
conversation about the house and what he wanted to accomplish. Turns
out, putting his house in a Trust and doing a RB system isn’t what
he wants right now, he wants to do a lease option now and keep the
write-offs himself.
So I said that if he
changed his mind that he could reach me either at home on my cell
phone. With the market like it is, I think he will call me, because
he won’t want to keep lowering the price of the house. The way that
he is setting it up he will not get what he wants with the way that
he is doing it.
I now have his email
and will be following the process on this house. This is a wonderful
place and would be a great place for me or another RB. Mark two up
for me! I’m excited the earth didn’t open up and swallow me. I
survived!
I am not timid about
speaking in front of groups as I have run for public office, spoken
to college groups about publishing and women in business but cold
calling was just beyond me. One of our members said that he
understood how and why I feel like I do about talking to people, and
it’s because I am an accountant and am comfortable within certain
parameters. When I step out of those boundaries then I’m at a loss.
So now that I understand why I am like this, it has been easier to
take off my accounting hat and put on my investor hat and go for it.
So while I still have
a tendency to give my leads away, I am running ads and calling on
properties. I have my daughter in Texas running down FSBO’s, and
so it is getting easier to do this. If it wasn’t for those
answering machines I would have missed out on a whole bunch of, not
only fun, but the experience of talking to and meeting new people.
You can take it from
me if you are apprehensive about doing the calls, it does get better;
the more familiar you are with the script, the easier it gets. Also,
we have the OCS program with Bret and although it is very time
consuming and demanding, it is very worth while. There is also the
TEAM program, again through Bret, that is offered at the seminars; I
joined that one and it has helped immensely.
Don’t be afraid to
call any of us, we’re all here to help. Communicate your successes
and your failures we’re all good listeners and can share with you
our experiences and make it a two way learning effort. We enjoy
hearing from you.
I hope you all keep
coming to the seminars. There is so much to learn and Bill is the
best teacher that you will ever find...and bring your friends. Share
this wonderful opportunity with them, they’ll thank you. Look
forward to seeing you soon!
Until later,
Linda
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Inside Tech
INSIDE TECH
by Jeff Hatcher - NARS
WHEN CLARITY MEETS OPPORTUNITY, SUCCESS
WILL FOLLOW
Opportunity is abundant in today’s
real estate market, but at no time has it been more important that
you have the clarity to avoid a $200,000 mistake to make the
$1,000,000 profit. On June 20th – 22nd in Los
Angeles, Bill Gatten and Bruce Norris will be teaching us all about
today’s California Market and what tools are needed to help us
create success. So, what do I mean by clarity? The key components of
Clarity are; understanding the environment of opportunity,
envisioning the details of a successful outcome, anticipating
problems that may arise, creating a usable plan to follow, building a
team that can support your needs, and a willingness to succeed versus
all obstacles that may stand in your way.
Starting at a young age, my life has
been spent living one entrepreneurial dream after the next, starting
with selling bottled water from the springs of Floyd, VA at the age
of 12 (like most kids my age sell lemonade). Having no “Clarity”
of understanding the environment of this opportunity, I eventually
bored of the idea. After graduating college, I started my first
company selling online shopping carts when the base price for
shopping carts was $10,000. I went to several seminars on how to
write a business plan, how to market your business, how to network,
etc., which led to the beginning steps of setting up my business.
First, it became obvious that establishing a merchant account for
accepting credit card payments was needed. At the time there were few
options and most were from your normal agents charging 30 cents per
transaction while pocketing 20 of it. While educating myself, I began
to realize that there is a large network of sales people who were
mapped across the US and also realized that e-commerce was their next
frontier. This was my first “ah ha” moment, all of a sudden I
realized that I had found my national distribution channel, now I
just needed to show my product and get it in the right hands. Soon
after, I approached a regional manager of one of the largest national
companies and he was blown away so much, that he became an investor
on the spot. Wow! Things were going great, and I’ll be a
millionaire within my first month of business...or so I thought.
With our investment in hand, I made one
of many mistakes because I did not “Anticipate problems that may
arise” when we bought Windows NT4 servers to run our whole
operation. We thought that because the tech magazines were filled
with articles on how NT4 would replace Linux as the operating system
of choice, made it a good choice. Here I lacked the “Clarity in
building my team” to support me in areas that I was weak in at the
time. (As a side note, magazine articles for most corner store
junkies are nothing more than advertisements for companies using PR
firms to promote their goods. The content is often based on how many
dollars are thrown at execs to push their subsidized opinions down
our throats.) Needless to say, I was on my way with servers running
and product ready for distribution.
We started by having a party to
celebrate our success before the first sale was made. After all, I
had a distribution channel in place and a system that was better than
most online shopping carts around, and there were very few
competitors, And I am talking about the halcyon days of the
e-commerce boom.
What did I forget?
I forgot that we might actually have
customers and our server platform had not been fully tested. Simply
put, I didn't have “Clarity in envisioning the details of a
successful outcome”. The first month we had 20 new customers and
100 sales reps signed up to sell our product nationally. The first
problem was now here; we had customers!!! What happened, you may ask?
The server (NT4) crashed and crashed and crashed…
I had no back up plan; I had forgotten
to form the “Clarity in creating a usable plan to follow.”
Needless to say the accounts went as fast as they came and our
business was done as quickly as it had started. Everyone lost faith
in the operation and my main technical engineer flipped out with the
emotional strain. I shorted the remaining investment and turned my
focus to web design so I could recover from the economic strain
brought on by this ordeal. Needless to say I was missing the
“Willingness to succeed versus all obstacles that may stand in your
way.” There were other competitors who had clarity and went on to
great success, such as what is now the Yahoo Store (which sold for
$40 million).
These were hard lessons which brought
me to the understanding that the “When clarity meets opportunity,
success will follow”.
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On the Board
The Board is Your Friend. Use It!
As many of you already know, the NARS board is filled with a wealth of knowledge. Bill Gatten himself can be found daily providing important answers with a bit of humor. Joe Cain, Documentation Specialist, is methodically reading every post with the greatest attention to detail. The list of members providing there daily insight is to large to place here, so go to the Board. It will become your best friend and most valuable tool.
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Thanks again,
The staff of NARS, Equity Holding Corp (Tom and Thomas) and Roberta Standen, and Scott Moyes
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Upcoming Events
LA PACRats w/ Bill Gatten:
Culver City, CA, Wed, April 30th from 6:30pm - 9:00pm
Location Info: AMVETS - 10858 Culver Blvd. - Culver City, CA 90230
2.5 Day Workshop
Ontario, CA Friday, May 2nd thru Sunday, May 4th
Location Info: Holiday Inn Ontario Airport, 2155 East Convention Center Way, Ontario, CA 91764
Hotel Phone: 909.212.8000
PENSCO: IRA Investments - NARS presentation by Pete Mendenhall
Thursday, May 29th thru Friday, May 30th
Location: Dallas, TX
Hyatt Regency DFW, International Parkway, Dallas, TX
Very special limited time Early Bird discount for NARS community members!!!!
The Cruise! 2009
Departing February 8 -15, 2009
Location: The Pacific! (with ports of call in Puerto Vallarta, Mazatlan, and Cabo San Lucas)
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Private Lenders Sought by Probate Attorney
I'm in probate court almost everyday. I need private lenders for real estate with 70-80% LTV.
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Secured and Good return on investment
I need private money to fund properties that I purchase. High return on investment and secured.From $10k and above. Call Matt at 818 923 7723 or email at webyyrhouse@hotmail.com for details.
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So. Cal. Real Estate Appraiser
I have over 20 years experience appraising residential properties. State Certified Residential Appraiser in California. If you need to know the real value in this declining market you may want to order an appraisal. Call me at 951-850-2171. Bill Dobyns
wdobyns2003@yahoo.com
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