The December 2010 issue of Entrepreneur Magazine had a great article about “the new attention deficit”. The author gave some great tips to help you break some annoying habits and to re-balance your day.
* Don’t stay on your email all day! (Yes, I am so guilty on this one!) Pick 2 or 3 windows of time to check your email and answer each one decisively, just one time. If you are checking emails all day long, you are distracted from effectively completing other tasks.
* When you are with someone, focus! Shut the laptop – let calls go to voice mail – and truly focus on the person on the other side of the table. Human contact is a good thing! The ability to connect with someone is a premium quality to have in today’s world.
* Don’t answer the phone! Okay, there are many times when you need to be available to answer your phone. But remember when we could actually go to the grocery store without having a cell phone glued to our ear? Remember when we could actually focus on our driving? There are certain times when it’s okay that you let your calls go to voice mail. We don’t have to be available 24/7.
By taking the author’s advice you will gain a new ability to focus and have renewed peace of mind. You might even get a reputation of someone who is there and who really cares!
Do you have a Power Hour each day? What exactly is a Power Hour?
As part of your business plan, a daily Power Hour can truly explode your business! During this one hour, shut your door and turn off your cell phone, your email and your computer. Make sure there are NO INTERRUPTIONS! Take your potty break and finish your coffee – it’s time to get down to business!
Take this one magic hour to call people. That’s right – pick up the phone and have real conversation with important people who can help to grow your business.
Call your past customers. Call your favorite clients who you haven’t heard from in a while. Ask how they are doing. How’s life treating them? Ask about their family. Make a date to meet them for coffee or ice cream later this week.
With texting, email and social media being so rampant in our society, it’s easy to lose the one-to-one, face-to-face relationship with people. Don’t let that slip away! Relationships are still vital to your business! Let people know you care about them!
If you do this for one hour, five days each week your business will explode!
A recent article in Realtor Magazine told the amazing story about a young couple who were negotiating with a seller to purchase a home. It seems their addiction to revealing themselves on social media got the best of them. Take a peek at this story.
Be Careful, Buyers!
“A couple who had made an offer on a home shared a detailed account of their deal on a social networking site. They severly compromised their negotiating position by writing about how badly they wanted the house, and even the actual amount they were willing to pay! What is it with the social networking phenomenon that makes people feel compelled to share every detail?”
If you are a Realtor, it seems today’s market demands you have a social media consultation as part of your seller and buyer prep talk. Cases like this are the reason why!
Buyers – please think twice before you reveal confidential information to a public internet site! What appears to be a private conversation with your friends is actually being published to the whole world!
I will be adding more coupons and discounts every week to help you and everyone you know save money. My business partners and friends have agreed to send special discounts to my clients, friends, and family through this blog. So stay tuned often to see where else you can save money!
If you know of any businesses who would be a great fit for this awesome service, please send me a message to let me know!
Take care, and I will see you back here real soon!
The traditional, conservative, “go to” loans have always been the 30 year and 15 year fixed rate. Few people are aware there are other great options as well – the 25 year and the 20 year fixed. With these shorter terms, you can save thousands of dollars in interest and pay off your home faster.
Dan and Sue bought their home five years ago. They came to me recently because they heard a news report that interest rates were at an all-time low. They are paying 6.00% now and wanted to know if there was any way they could capture these lower rates for their mortgage. “Yes, there is!” I replied. Dan and Sue wanted to look at a 30 year fixed rate because they thought the payment on the 15 year would be too steep for their budget. I recommended we also look at the 25 and 20 year term – two loans they did not know existed.
Let’s take a look at the numbers to see how much money Dan and Sue can save by refinancing their mortgage to a lower rate and shorter term.
Current Loan
Interest Rate 6.00%
Original Loan Amount $175,000
Current Loan Balance $162,000
Monthly Payment $1,049
New 25 Year Loan
Interest Rate 4.25%
New Loan Amount $165,000
Monthly Payment $894
Monthly Savings $155
Interest Savings over 5 Years $13,540
New 20 Year Loan
Interest Rate 4.25%
New Loan Amount $165,000
Monthly Payment $1,022
Monthly Savings $27
Interest Savings over 5 Years $48,600
After looking at the numbers and discussing their options, Dan and Sue decided to proceed with the 20 year term. Their monthly payment is approximately the same as what they pay now, and they can shave another five years off of the financing, thus saving a pile of money in the long run. That was a great decision for their budget and their family!
Do you have a refinance story to share? I would love to hear how you saved money by refinancing.
66 | posted at October 31st, 2010 in Loans
With your aging parent now living on social security income and your college bound teen ready to launch, it’s easy to feel the pressure of your family situation. Each of these loved ones need a nice little place to call home. How can you help? By utilizing the Family Opportunity loan program.
The Family Opportunity Loan Program
This little known program will allow you purchase or refinance a home for your college bound son or daughter, your disabled son or daughter, or your elderly parent, and treat the property as if it were owner occupied, thus enabling you to obtain a better interest rate and a reasonable down payment.
You could qualify for this type of program if you have the following situation:
- College bound son or daughter residing in a one unit second home residence purchased by their parent(s).
- Adult children purchasing or refinancing a primary residence for elderly parent(s) who are unable to work or have insufficient income to qualify for a mortgage.
- Parents purchasing or refinancing a primary residence for a disabled son or daughter who are unable to work or have insufficient funds to qualify for a mortgage.
Here is an example of how I used this program to help a client this week.
After her father passed away a year ago, the family decided it was time for mom to move closer to her children and grandchildren. She found a cute two bedroom ranch just a few miles from her oldest daughter, Amy. With mom living nearby, Amy and her husband Tom can help mom with household chores such as lawn care and snow removal.
Mom’s income is enough for her to live on comfortably, but not enough to qualify for the mortgage payment. The mortgage broker told Amy she can purchase the home for her mom, but it would require a huge down payment and the interest rate would be substantially higher because the property would be considered as “non-owner occupied”. That doesn’t sound fair! This home is for her aging mother!
Enter the Family Opportunity loan. By utilizing this loan program, I was able to show Amy how she could purchase this home with a substantially lower down payment and the interest rate on the 30 year fixed rate mortgage would be exactly the same as if she were purchasing the home for herself. After showing the numbers to Amy and her mom, they realized this was perfect for their budget.
Now Amy’s mom is settled in her new home, the monthly payment is affordable, and they can easily spend weekends and holidays together as a family!
Do you have a similar situation? You can share your story by leaving a comment below.