Dogs and Thunder It’s called Strom Phobia and our pup suffers from this horrible affliction here in Puerto Vallarta during rainy season. We always know when a storm is brewing because the pup starts the panting/pacing ritual that precedes thunder and lightning. Pup seems to want to be on top of us, or maybe inside …
I really can’t tell you how many times I’ve been asked the question: Is this a good note deal? So, first, let’s consider why people ask this question. I think it’s because they want to hear your response or opinion of what a good note deal actually is. Although I’m honored that those who ask me value my opinion, I don’t want to do them a disservice by giving them a simple “yes” or “no” answer. Besides, what’s a good note deal for me isn’t necessarily a good note deal for someone else. When a real estate investor, who’s getting started in notes, asks me about a note deal, I try to explain my take on it by relating it to a real estate deal.
At first, sometimes it is hard to tell, or to know, if you have a good deal until you get some experience. Let’s look at real estate, for example, there are several areas of a deal where you can make money:
Any of these things can turn an okay deal into a really good deal.
I remember when my cousin and I were investing in similar types of properties; he always had to get a great deal on the buy side because he can’t change a light bulb. I, on the other hand, I had a few advantages. For one, I was a …read more
The real estate market—and daily life—has been completely upended in just a few weeks. Yet maybe in spite of it all, you’ve managed to find a home you love and are ready to make an offer. Congratulations! But as you hover on the brink of what is potentially the biggest investment of your life, amid …
Escaping the heat of Puerto Vallarta in August is a good time to check out the tianguis (flea market) in Tonalá. Although everyone thinks Tonalá is in Guadalajara, it’s actually a municipality of Jalisco, bordered by Juanacatlán, Tlaquepaque, Zapotlanejo, El Salto and Guadalajara. The tianguis includes everything from pottery to antique furniture and is open …
Al comenzar el nuevo año, pensé que sería interesante hacer un resumen del mercado del año pasado. Hubo una mejora notable en la Venta de Casas especialmente en el sur de la bahía. Cuando observen las ventas de condominios tienes que recordar que muchos de los proyectos del centro que se habían estado vendiendo extremadamente …
Informe del Mercado de Bienes Raíces en Puerto Vallarta 2013/2014 Read More »
As real estate investors we often think of ourselves as go-getters and self starters. Too often we are not wanting a boss looking over our shoulder or telling us what to do everyday. The reason many of us invest in real estate is to become financially independent enough to stop working our traditional careers. Then why is it that so often we fall short of producing the daily results needed to get a full-time investing business off the ground?
This article is devoted to a powerful principle that has helped keep my real estate investing engine running in top gear for the past 11 years.
Let’s first discuss the idea that profits, knowledge, and helping people are our three biggest rewards as investors. Profits are produced by providing value to buyers and sellers. Knowledge, both good and bad will come from any action moving forward. Finally, helping others provides a value that is good for your soul and will come from actively investing in local deals. Then why, if we know that rewards will come at the end of the tunnel, do many of us procrastinate, hesitate, or fall short of our daily goals for our investing businesses.
Your level of success today is a direct culmination of your past daily activities. If your daily routine actions and activities are in line with your goals you will likely hit your target sooner rather than later.
Related: Owning and Growing Your Real Estate Business
Specific delayed gratification to build anticipation. I treat myself like a child and parent myself. Below we will outline how you too can set up short term goals with fun rewards. The bigger the reward the bigger the goal. The trick I use is to think of the reward first and get excited about it. Here is how you can do the same.
1. Think of a reward you have been wanting for some time. A vacation, a new car, going out to a new restaurant, buying a new toy or piece of jewelry, etc. Not a vacuum or something chore related, but something specific to you and a little selfish.
2. Really envision yourself having the object or taking the vacation. Get excited about it. You should feel butterflies in your stomach when really picturing yourself with the reward. If you do not get physically excited at the thought of having this reward then your reward is not strong enough – you should choose a more appropriate reward.
3. With the price of the object or vacation in mind, decide what your goal will be in order to achieve this reward. In other words, how much profit do you need to make before this reward is viable?
4. Now double, triple, or quadruple the goal needed to achieve this reward.
I created this goal on January 1: If I want to take a cruise in February I will only do so when I have purchased 4 mobile homes for investments. 2 must be sold prior to the cruise. Note that 1 mobile home purchased and sold would be more than enough money to take a cruise but I wanted to really push myself and make big gains this year so I quadrupled my goal in order to go on this cruise.
The outline above is helpful for pushing yourself to set larger and larger goals that have a high likelihood of being reached. When you use delayed gratification to build anticipation you build a fire inside you that can push you past your fears and comfort zones to obtain your reward. This goal setting assumes that you will take into account proper education and training. Make sure you have clarity about how to advertise, safely purchase, and resell investment homes for profit.
If this above outline does not get you fired up or your personality uses a different method for increasing your daily results please comment so below so we may all learn and grow together.
Love what you do daily,
John Fedro
The post This Powerful Principle Will Increase Your Willingness to Produce Results is property of The BiggerPockets Blog. and is Copyright
Posadas in Puerto Vallarta consist of businesses honoring their employees one day of the year with a festive party and traditional food, along with North American potluck dishes in many cases. There is gift giving, sometimes what we refer to as White Elephant and at some posadas, well-thought presents of gratitude and friendship. Aguinaldos (Christmas …
I Love the Java Jive! Puerto Vallarta hosts some grand free events and among them this year is something new and exciting: an attempt to break the Guiness Book of World Records for the greatest number of people tasting coffee at the same time. The sponsors claim they will be serving the best coffee in …
Isla Marietas Paraíso de Nayarit Beginning in the mid ‘80’s in Puerto Vallarta, we began fishing trips on pangas, which are open boats and dot the shoreline up and down the shores of Puerto Vallarta. Floating around offshore, lines trailing in the water, cooler full of ice water and cold beer, it was a beyond …
This is from a couple years ago but its a good place to start if you are looking for pet sitters in Puerto Vallarta.
As years go on in our residency of Puerto Vallarta, we’ve found it amazing how many people speak English; the waiters, the ladies at the lavanderia, bartenders, the veterinarian we take the pup to see for his yearly exam. Even some of the taxi and bus drivers. It is an honor to live in a …
Kings and Hidden Babies: Christmas isn’t over in Mexico until January 6th; Epiphany in Christian/Catholic circles, and another day to celebrate, eat, and drink. In Puerto Vallarta, you will find specials in restaurants, mounds of circular breads for sale in grocery stores and bakeries, and traditions observed in private homes. Rosca de Reyes is bread …
Birds of Puerto Vallarta Some of our regular habitants have flown back north for the next few months. Humans have also left but it’s the birds we’ll miss the most! We love the birds of Puerto Vallarta. Many of them winter here, just as we do and then leave for a few months to find …
This is one of the most common questions that I get when working with new investors, and I guess that it is to be expected. Not only are there a lot of different types of properties out there, but there are also different strategies and pros/cons to each strategy. So in this post I will attempt to provide some criteria for how to answer this question for yourself.
I believe that everything comes back to your individual goals. There are many different types of properties and strategies out there, but unless you know your goals it is difficult to know which one to select. So start out by figuring out your goals.
Related: Tips for Achieving Your Goals in 2014
Once you have your goals established, the next thing is determining which of the hundreds of strategies you could utilize to achieve your goals. Some strategies are more active, such as wholesaling and flipping. Others are more passive (but still require work) such as buy-and-hold or tax lien investing. Narrow down the strategy or strategies that will contribute towards achieving your goal.
Sometimes this step can come before your strategy, sometimes it can come after. In my case, my goal was to generate monthly income to cover my expenses to allow me the freedom to make decisions without having to worry as much about the financial impact. My strategy to do this was to purchase buy and hold properties. So my next step was to find a location that would fit my strategy.
One of the first things that I did was to lay out my criteria for a location. These included things like:
After I had my basic criteria, I grabbed a map and created a circle of my target area. I then took towns (Zip Codes) within the circle and plugged them into City Data to get information and population trends for the zip code. Any that did not have steady/increasing populations got removed from the list.
I then created a spreadsheet for each Zip Code. I followed rental ads (either in the newspaper or online, whereever landlords advertised properties for rent). At the end of the month I analyzed the data and asked the following questions:
Once I had this information, I then began looking at properties for sale. I used a spreadsheet to quickly evaluate these properties. At this point …read more
Como ingresamos al show En Marzo del 2013, recibí una llamada que cambió mi vida. Taniel Chemsian, nuestro agente de Bienes Raíces en Puerto Vallarta me llamó un día para decirme que tenía una invitación para mi esposo y para mí. Imaginen mi sorpresa cuando me enteré que él se refería a la oportunidad de aparecer …
Filmando House Hunters International – Desde Dallas a Puerto Vallarta Read More »
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