Law of Attraction Subconscious Mind Power
If you are reading the book to help you decide whether to pursue a career in real estate or not, let me suggest this If, after you have read the book, you are still enthusiastic but have not yet made up your mind, enroll in a pre-licensing course, complete the requirements, and take the state licensing exam. I will have plenty of guidance for you on achieving that goal. At that point, you will be able to make the best informed career decision possible.
Some states prepare their own tests, whereas others use national testing services. There is a great deal of similarity among all of them in terms of test construction and subject matter. All have two major parts one covering national material and one dealing with subject matter related specifically to the state. A certain percent of the entire test requires arithmetic computations. The exact percentage varies. These questions are typically scattered throughout the test. To set your mind at ease, if you've had high school algebra you've got the basics needed to meet this challenge. (I offer further guidance on handling the math in this chapter's section on study techniques.) The state portion contains material that pertains to its specific laws, rules, regulations, and procedures. It is not unusual for the failure rate of the state section to be higher than that for the national, since the material is typically very specific and sometimes rather obscure. My advice, therefore, is to...
Many salespeople, especially in real estate sales, think they'll offend the customer if they ask questions. Here's an analogy that should put your mind at ease Imagine you're sick and you schedule a doctor's appointment. You arrive, the doctor enters the examining room, and you look up and say, Guess what sickness I have today From across the room, the doctor is supposed assess your symptoms, diagnose your ailment, and prescribe a cure without checking your ears and throat, listening to your lungs and heart, and, most importantly, asking you questions about what's wrong and about how you feel. It sounds ridiculous, but it's what real estate agents do when they try to serve clients without first asking questions to qualify their wants, needs, and expectations.
You will likely attend several megahype sales seminars and rallies during your real estate career. The search for the magic formula for success is endless. New marketing ideas will burst on the scene, remain in vogue for a while, and, mercifully, fade into well-deserved obscurity. Some of them will truly boggle your mind. The most incredible I ever heard involved a form of
TIP One of the reasons I have a team of advisors when I invest is simply that each person sees something different
Most great investments are right in front of you. The problem is seeing them. The reason most investments are hard to see is that great investments are seen with your mind, not your eyes. Years ago, I wanted to buy a piece of ranch-land. My dream was to build a remote mountain cabin in the woods. I also wanted it for free. After challenging my mind, I went looking for my dream. A few months later, I came across a spectacular piece of property. It was approximately eighty acres, including an old rock house built in the 1880s. The asking price was 115,000. I believe I put 10,000 down with the terms of no interest and no payments and asked for one year to pay off the balance. After fixing the house, I subdivided the property, sold thirty acres with the house for approximately 215,000. I put some money, about 75,000, net in my pocket and still have the fifty free acres today.
1.Take classes or read books before starting. If you have no money, go to the library. Remember, your mind is your greatest asset. Invest in that first. TIP The reason there are more poor people than rich people is that it is easier to say, I can't afford it, rather than ask the question, How can I afford it The moment you ask yourself the question, How can I afford it your most important asset, your mind, goes to work. If you use the excuse, I can't afford it, your mind goes back to sleep and you get back to working hard as a slave to money.
There are 101 reasons why people may sell a piece of real estate at below the market value. If you are open to the possibility that these deals exist, then you will find them. If you think they are all scams, then you will not find them, and your belief that these deals do not exist will be confirmed, at least in your mind.
One of the great ahas I took away from reading the marketing classic Positioning The Battle for Your Mind, by Al Ries and Jack Trout, was the idea that the human mind is an inadequate container. The basic idea they share is that under the constant bombardment of advertising and marketing, the human mind becomes saturated by brands and can hold only a finite number at any one time. Ries and Trout cite the work of Harvard psychologist George A. Miller when they assert that the maximum number of product brands we can remember for a given category the brand saturation point for the mind is seven. That's when I had a huge aha. Their book is about major brand advertising, the multimillion-dollar campaigns behind soft drinks, airlines, cars, and fast-food chains. It made me wonder what the implications were for the local real estate agent marketing to their target audience. Chances are, if the average person can't name more than seven brands of potato chips, they can't possibly name more...
In my opinion, the major reason why successful people always seem so together is they set specific written goals with realistic deadlines. This sends a message to their subconscious mind to automatically sort through the confusing detail of life and only notice that which advances them toward their objectives. Since they know what they want and when they want it, they don't have to agonize over every decision. This one habit simplifies their life and makes them seem so much more organized. I highly recommend it. But just having goals is not enough. You've got to use your brain effectively. You've got to get your mind uncluttered.
P rogram your mind with positive thoughts. M aster your body. Each tape will expand your mind, excite you and motivate you to That reminds me of something I read, said Nora. If your mind can conceive it, your heart can believe it, you can achieve it. The last book was my first real estate book. I spotted it in my brother-in-law's bookshelf. He had been successful in real estate investing. Why did I notice it I'm sure that my subconscious mind, working overtime to he lp me reach my written financial goals, sent a signal to my conscious mind to notice that particular book. It's a great one. How do hunches come The best way to answer this question is to think about how our minds work. Each of us has a conscious mind and a subconscious mind. Generally speaking, it's the nature of our conscious mind to be literal, rational, logical, serious and negative. The nature of the subconscious mind is to be more positive, creative, playful and visual. Most likely, hunches come from our subconscious...
After the experience of completing your first real estate process, you will have exercised your mind in a way that will help you look at land through new eyes. The fun for me is to drive by or walk into a project I have been a part of and know this was a piece of land few considered would ever be a place where people would want to live, work and play. After thirty years of planning, negotiating, visualizing, building, and selling these ideas, I've learned that virtually anything is possible if you ask questions. Analyze and think through the answers, and take the steps to get your mind's ideas into pictures and then later into bricks. Remember, bricks are laid one upon another just like your thoughts. The hardest part is setting the first brick in place.
Every state requires real estate agents to have a license to practice their occupation. Every state, at a minimum, also requires that you take and pass a state examination to get that license. Some states require more than just an exam. After you've made up your mind to become a real estate salesperson or broker (brokers' licenses usually are obtained after you've spent time as a salesperson), you need to find out what the procedure is for getting your license in your particular state. Because most states have an educational requirement, I assume that you have to take a course before obtaining your real estate license. (For more on licensing procedures, see Chapter 1.)
Never ever change an answer after you've written it down. It seems that if you're well prepared, your mind tends to recognize the correct answer in a multiple-choice question immediately. From my own experience with correcting exams, I can tell you that all too often, I see right answers erased and changed to wrong ones. I don't see the opposite as often.
To qualify for owner-occupied financing, you must tell the lender that you intend to live in the home for at least one year. Intend, however, does not mean guarantee. You can (for good reason, or no reason) change your mind. The lender may find it difficult to prove that you falsely stated your intent at the time you applied for the loan. Beware Do not lie about your intent to occupy a property. Lying violates state and federal laws, and governments now prosecute such cases with vigor.
Please store this manual with your property files and keep it as long as you own your note. We strongly suggest you purchase an annual calendar and schedule a time to review this manual next year. Frequent review of this material is the best way to learn it and the best way to keep your options fresh in your mind.
In jurisdictions where you can, ask the prospective tenants how long they were in their last home, what their plans are, where they are from, where their family lives, and what they do for a living. This needn't be in the form of an interrogation Make it part of the conversation. After all, if you and I were talking, we surely would not mind sharing these details with each other. People who make good long-term tenants in general do not mind, either. If they have difficulty answering, then file that away with all the other information you are processing to make up your mind.
One of many things I've learned from Robert's Rich Dad is that instead of saying I can't afford it, ask yourself How can I afford it By asking yourself that question, it forces your mind to think. And it's amazing the number of solutions you will come up with. So that's what I do with almost every real estate I pursue.
Don't get too excited. or discouraged about things you may hear. Someone may tell you that This neighborhood is declining and That area shows no promise. This could be an investor trying to discourage you from investing in the area. It could be someone without real knowledge of the area. Be a good detective. Ask questions and do your homework. Between what you have discovered. what you read. and what has been said. you will begin to judge for yourself the potential of an investing area. Open your mind to the possibilities of a particular area. Most people you talk to will answer your questions from their frame of reference. This is only natural, because it is unlikely that one could speak abut a subject that they have no education or experience in. The experience one person describes to you. may have no bearing what-so-ever on what you are trying to accomplish. If so, move on. After a while, you will begin to recognize those that are more consistently correct in their evaluations.
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