Anxiety is a superpower. Those who have it have the potential to positively change the world around them. Anxiety is the feeling we get when we should take action but don’t. Those of us who are blessed with it want to take action all the time. Imagine if we harnessed this, how different our lives the world might be.
Instead, many of us mute this feeling by using alcohol and drugs. Learn to channel this inclination to take action by casting your fears aside and do what you know you need to do.
It’s not everyday that you get a check for $157,000! It would have been $151,000 if we didn’t postpone closing for a week! Why? We were able to save $6000 in mortgage tax by doing a mortgage assignment and consolidation rather “paying” off the previous mortgage.
This little trick can not only be used on refinances of investment real estate but also purchases too! How? If the property you are buying has an existing mortgage on it you may be able to have that bank assign the mortgage to your bank who is offering the purchase money. This would then be assigned and consolidated with any new debt on the property.
The previous bank may charge an assignment fee but that may be negligible in comparison to what you would save in closing costs!
Commercial real estate brokers control the majority of deal flow in your market. Unfortunately you won’t find their best deals on the MLS or Loopnet. It’s an old school relationship business built upon years and trust. Well as the ancient Chinese proverb says: “The best time to plant a tree was 20 years ago. The second best time is now.” Getting out there NOW and networking is the best way to start the relationship building process.
In a later video, I will give you tips on how to identify and engage the best broker for your goals!
Sounds counter intuitive right? I got picked on pretty bad when I was in school. It didn't feel good at the time, but it put me through adversity early on that strengthened and matured my character before the beautiful and popular kids entered the real world. Last week was the first week of school for many young adults and I had them on my mind today as I reflected on the previous week. Social media was meant to connect but somehow I feel young people have never felt so isolated. If you are hurting, just know there are people that genuinely care for your spiritual and physical well being. They have gone through what you are going through and can support you if you only open up!
Diversification! Common sense investment advice is “don’t put all your eggs in one basket.” Then why do we entrust Wall Street and Banks with all of our investments? We as Americans are conditioned to think that the only way to invest for retirement is to put all of our money in these securities which really have no hard intrinsic value. Real estate is great an alternative investment! Even some financial advisors recommend having real estate as part of your long term wealth management strategy. And NO your home is not an investment, it’s a liability. When’s the last time your house wrote you a check?
Do you have any lead in your life? If you are human, chances are that you do. What can you do with all of this heavy poisonous matter? Have you considered taking all of it and turning it into gold? This video contains some ideas on how I confront and process the negative things that I can and cannot control; turn them into elements that are invaluable; that will improve your life, business, and the world around you.
Residual income. Is finding a good real estate deal easy? No. Is it hard work to find a great property at a fair price? Hell yes! But when you finally get that property, you will get paid for that hard work over and over and over again in the form of cash flows forever and ever. Try asking the company you work for to pay you more than once for work you’ve done. They’ll probably ask for a drug test. Residual income is rare, but real estate is all around us in abundance. Open your eyes and use it to your advantage!
“Get out of your comfort zone.” You’ve heard this a lot when it comes to personal development. But what does it really mean? The feeling of discomfort is actually a sign that you are doing something that is helping you grow. You must put yourself into the crucible to forge your character and to develop the habits of success! 🔥🔥🔥⚒⚔️
I meant to share this the other day considering it’s importance to the anniversary of the passing of our father however the day got away from me and something happened which was trivial but it completely threw me in a personal tailspin. I went to bed in a hell of anger and furious rage; didn’t get a wink of sleep. I “woke” up yesterday to the realization that I need to give up more of the day to say responsibilities of my business and focus on the taking down the mountain. This video is an inspiration of our fathers advice to live life with intensity!
I just made the last payment on a commercial mortgage loan that I am paying off and refinancing. I was whacked with a prepayment penalty of $13,000 dollars which could have been all avoided if I only would have used a community bank. Here’s why.
Matthew Drouin is a full time real estate investor and REALTOR with 12 years of acquisition, disposition, development and management experience in Rochester, NY.