"You just need to treat every deal like it might close."
"I can't."
Tuesday, two loans died. I had to make two difficult phone calls to good people who need to refinance.
"I'm sorry. I can't help you refinance right now." I proceeded to try and help provide a plan of action that will allow them to refinance as soon as possible, but the ugly truth is that they are stuck in adjustable rate mortgages that are adjusting. They are going to have to scrimp and save to pay their bills each month.
I was sick.
1 - I saw a few thousand dollars in commissions slip away.
2 - I couldn't help my clients.
I'm not going to pretend like my clients welfare is my only concern. Not true. I have bills to pay. I have my own mortgage to worry about. Loans are my income!
I'm also not going to act like my dissapointment and heartache were reserved for my checking account alone. It flat out sucks being in a position where you have to tell someone that their payments are going to continue to go up and there is nothing that I (or anyone else) can do about it. Bottom Line: We're dealing with peoples' homes here! There is a lot on the line!
Yesterday, I asked a client not to lose any sleep at night. We are working out some credit issues for him. I truly hope he slept well.
I didn't. I laid in bed trying to think of different scenarios and how to make this refinance a reality. Afterall, shouldn't you trust your home loan with someone who will lease sleep at night over your financing, so you don't have to?
I take great pride in caring a lot about every deal and more importantly, about caring about my clients' financial well being. Some days, I'm sleepless. Some days, I feel sick. Some days, I get to shake hands with satisfied clients who have either bought a home or saved hundreds on their mortgage. Those days keep me coming back and are the reason I love my job.
Showing posts with label Motivation. Show all posts
Showing posts with label Motivation. Show all posts
Sep 27, 2007
Jul 9, 2007
Motivation! (or not)
I do not believe that easy money exists. I believe that hard work, determination and wise business decisions will lead to wealth.
When I think about the weeks after I purchased my first home, it was all an exciting blur. I was up by 7:00 Saturday morning energized and ready to conquer my flip! During the work day, I would take all of my spare time and invest it preparing long lists of items to be purchased and tasks to be completed. I didn't need any annual, semi-annual, weekly, or monthly goals.
It was fun!
I want to take a moment to emphasize was. After 4 months, my enthusiasm and funds were quickly disappearing. Dragging myself out of bed to go work on the &*$# house was not easy. Did I hate every minute of it? No, not at all. Were there days when the frustration was all I could bear? Absolutely.
Frankly, I didn't have many options. I didn't have the money to hire out contractors and wasn't in a position to take even an afternoon off from work. I had a choice to make.
1 - Give up on the flip. No one would have really blamed me. After all, I was a novice carpenter learning on the fly. We could have sold the property to a wholesaler and probably got out even.
2 - Dig deep and find a way to finish. Frankly, this was my only option. Here's why.
Goals provide urgency. This summer I will sell my first condo and reinvest all of that money into my next project. This fall I will sell my second condo and reinvest the profits into a larger residence.
I will grow my business as I come into contact with the right people who will help the company succeed. I'm planning on a minimum of six flips in 2008 and want to be doing 12 in 2009.
Emotions don't get in the way. I don't feel like going to work. That doesn't matter. What matters is whether or not I went to work. I can promise you that some days you will feel like being on the site working. Those days are great! I guarantee you that there will be days when you don't feel like getting after it. These can be the most rewarding days! The can build strength, character, persistence and help to instill a relentless work ethic!
This article isn't to serve as a pat on the back (Lie: I'm really proud of completing flip #1.). It's also to encourage you to think about your goals within real estate and your personality. What motivates you? What drives you? What is going to separate you from the pack and make you successful?
When I think about the weeks after I purchased my first home, it was all an exciting blur. I was up by 7:00 Saturday morning energized and ready to conquer my flip! During the work day, I would take all of my spare time and invest it preparing long lists of items to be purchased and tasks to be completed. I didn't need any annual, semi-annual, weekly, or monthly goals.
It was fun!
I want to take a moment to emphasize was. After 4 months, my enthusiasm and funds were quickly disappearing. Dragging myself out of bed to go work on the &*$# house was not easy. Did I hate every minute of it? No, not at all. Were there days when the frustration was all I could bear? Absolutely.
Frankly, I didn't have many options. I didn't have the money to hire out contractors and wasn't in a position to take even an afternoon off from work. I had a choice to make.
1 - Give up on the flip. No one would have really blamed me. After all, I was a novice carpenter learning on the fly. We could have sold the property to a wholesaler and probably got out even.
2 - Dig deep and find a way to finish. Frankly, this was my only option. Here's why.
Goals provide urgency. This summer I will sell my first condo and reinvest all of that money into my next project. This fall I will sell my second condo and reinvest the profits into a larger residence.
I will grow my business as I come into contact with the right people who will help the company succeed. I'm planning on a minimum of six flips in 2008 and want to be doing 12 in 2009.
Emotions don't get in the way. I don't feel like going to work. That doesn't matter. What matters is whether or not I went to work. I can promise you that some days you will feel like being on the site working. Those days are great! I guarantee you that there will be days when you don't feel like getting after it. These can be the most rewarding days! The can build strength, character, persistence and help to instill a relentless work ethic!
This article isn't to serve as a pat on the back (Lie: I'm really proud of completing flip #1.). It's also to encourage you to think about your goals within real estate and your personality. What motivates you? What drives you? What is going to separate you from the pack and make you successful?
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