Since I have a few short sale listings in the lower low, lowest price range for the area of the city they are in, I receive quite a few calls and emails about the properties. Recently, I have started receiving offers on these homes as well.
I like receiving offers on my listings! Actually, it ranks up there as “one of my favorites” about my business. Lately though, I’ve been receiving offers on these lower end properties where it appears the client wrote the offer and the agent just forwarded it.
I’m not new to this game and know many investors like to operate in this manner. Is is right? Is it ethical? I’m not going to answer these questions, everyone has a different opinion. Let’s just say, I don’t personally write offers on homes I haven’t seen.
If you are going to allow your investors to write the offers, I have a few suggestions:
- Make sure it is the most current contract available – or plan on sending me a new offer
- Please send the short sale addendum as requested
- Have your clients sign the correct page of the contract
- Send me the signed contract on the correct property
- Give my clients enough time to respond
- Educate yourself and your client about short sales
I understand investors like to throw contracts at the wall and see what sticks, but this is my seller’s time. The short sale process is not going to change just because your client has cash. I owe it to my seller to submit a valid contract and when any of the details are missing (especially a signature) or the correct address, I just can’t submit your offer.
If your client wants to see what sticks, send me a valid offer. I look forward to working with you and closing the transaction for both of our clients.
Finances in my 20s: What I wish I knew then that I know now
(EDITORIAL) They say money makes the world go round. So, let’s discuss how to be smart with finances before it’s too late.
Being in my early twenties, something I’m still getting used to is the fact that I’m making my own money. This is not to be confused with the babysitting money I was making 10 years ago. Twice a month is the same routine: I get my paycheck and think, “Wooo! We goin’ out tonight!” but then I snap back to reality and think about what that money needs to be put towards. The smallest part of it going towards fun. It’s been tricky to really start learning the ins and outs of finances. So, I do what I usually do in any type of learning process? I ask for advice. I used to be fixated on asking those more advanced in age than I what they wish they knew when they were my age. Now that I’m determined to learn about finances, that question has been altered.
I reached out to a few professionals I know and trust and they gave me solid feedback to keep in mind about building my finances, about what they wish they had known in their 20s. However, I don’t think this only applies to those just starting out, and may be helpful for all of us.
“It’s important to simply know the value of money,” says human resource expert, Nicole Clark. “I think once you start earning your own money and are responsible for your housing, food, etc. you realize how valuable money is and how important it is to budget appropriately and make sure you’re watching your spending.”
Law firm executive director, Michael John, agrees with Clark’s sentiments. “I wish I had kept the value of saving in mind when I was younger,” explains John. “But, still remembering to balance savings while rewarding yourself and enjoying what your efforts produce.”
There are so many aspects of finance to keep in mind – saving, investing, budgeting, retirement plans, and so on and so forth.
In addition to suggesting to spend less than you make and to pay off your credit card in full each month, Kentucky-based attorney, Christopher Groeschen, explained the importance of a 401k.
“Every employee in America should be contributing everything they can into a 401k every year, up to the current $18,000 maximum per person,” suggests Groeschen.
“401ks present an opportunity for young investors to 1) learn about investing and 2) enter the market through a relatively low-risk vehicle (depending on your allocations),” he observes.
“An additional benefit is that 401ks also allow employees to earn FREE MONEY through employer matches,” he continues. “At the very least, every employee should contribute the amount necessary to earn the employer match (usually up to 4%) otherwise, you are giving up the opportunity to earn FREE MONEY. Earning FREE MONEY from your employer that is TAX FREE is much more important than having an extra Starbucks latte every day.”
Whether we like it or not, money is a core aspect of our daily lives. It should never be the most important thing, but we cannot deny that it is, in fact, an important thing. It’s tricky to learn, but investing in my future has become a priority.
This editorial was first published in May 2018.
Dopamine detox to rewire your brain from internet addiction (it’s common!)
(EDITORIAL) So, you’re addicted to the internet. Whether your drug of choice is scrolling, posting, or interacting – it’s time for a dopamine detox.
Ah, smartphones. The best friend we can carry around in our pockets. This small device that’s nearly glued to our hands gives us instant access to many worlds.
It’s exciting to see what’s up on Instagram, take up to six stabs at Wordle, and scroll recipes you’ll never make on Pinterest. It’s also a place where we can share the highlights of our life and, in return, get validation through likes.
With that validation comes a small rush of dopamine, something we’ve all become accustomed – and some of us addicted – to.
While I’m not addicted to posting, I would say I have an addiction to scrolling. I can’t make it through a 50-minute episode of “Dexter” without picking up my phone to check an app or two.
And there is that dopamine rush with it, where you feel like you’re the most up-to-date you’ve ever been. But what about when this becomes too much and we’re overloaded with information and feel bogged down by the constant updates?
First, we need to understand what dopamine is.
It’s a neurotransmitter that works in two spots in the brain: first, its production helps us begin movement and speech. Second, we feel it when we receive or expect a reward. It even creates a kind of “high” similar to what’s found in nicotine and cocaine.
So, if we expect these dopamine hits from social media and we don’t get those results, the dopamine crashes to the ground creating burnout.
Well, this can cause burnout. And, while tempting, the solution isn’t as easy as just deleting all of your social media and walking away clean. Additionally, “take a break” features are too easy to swipe away.
So what can you do?
Mana Ionescu at Lightspan Digital recommends a Dopamine Detox.
While breaking an addiction takes longer than a day, Ionescu recommends starting there and tailoring it to your needs.
Here is what she describes is necessary for a detox:
- Turn off all notifications on your phone. ALL of them. You will be looking at your phone every 10 minutes as it is. You won’t miss anything. We lose endless hours of productivity because of those pings.
- Tell people to call you if it’s urgent. And teach them the difference between urgent and important. So do keep call notifications on.
- Stop over-messaging. The more you message, the more you’ll get responses.
- Shed the pressure to respond right away to messages that don’t need a response right away.
- Take detox days. Nothing but calls, confirming meetings, and using the GPS is allowed on those days.
- Put your phone on sleep mode at night. You can, at least on iPhone, set permissions so that certain phone numbers can get through, in case you’re worried about mom.
- If you’re dating, remember that texting is for laughing, flirting, and confirming plans. Please pick up the phone and talk to that person to get to know them. I will not take you seriously if you just keep texting.
- And yes, we all know the game, whoever looks at their phone first over dinner picks up the bill.
This won’t be easy, but your brain will likely thank you in the long run. And, when you’re back online, hit up the comments and let us know how the detox went!
Strong leaders can use times of crises to improve their company’s future
(EDITORIAL) In the COVID-19 crisis, some leaders fumbled through it, while others quietly safeguarded their company’s future.
Anthony J. Algmin is the Founder and CEO of Algmin Data Leadership, a company helping business and technology leaders transform their future with data, and author of a new book on data leadership. We asked for his insights on how strong leaders can see their teams, their companies, and their people through this global pandemic (and other crises in the future). The following are his own words:
Managers sometimes forget that the people we lead have lives outside of the office. This is true always but is amplified when a crisis occurs. We need to remember that our job is to serve their teams, to help them be as aligned and productive as possible in the short and long terms.
Crises are exactly when we need to think about what they might be going through, and realize that the partnership we have with our employees is more than a transaction. If we’ve ever asked our people to make sacrifices, like working over a weekend without extra pay, we should be thinking first about how we can support them through the tough times. When we do right by people when they really need it, they will run through walls again for our organizations when things return to normal.
Let them know it’s okay to breathe and talk about it. In a situation like COVID-19 where everything was disrupted and people are adjusting to things like working from home, it is naturally going to be difficult and frustrating.
The best advice is to encourage people to turn off the TV and stop frequently checking the news websites. As fast as news is happening, it will not make a difference in what we can control ourselves. Right now most of us know what our day will look like, and nothing that comes out in the news is going to materially change it. If we avoid the noisy inputs, we’ll be much better able to focus and get our brains to stop spinning on things we can’t control.
And this may be the only time I would advocate for more meetings. If you don’t have at least a daily standup with your team, you should. And encourage everyone to have a video-enabled setup if at all possible. We may not be able to be in the same room, but the sense of engagement with video is much greater than audio-only calls.
We also risk spiraling if we think too much about how our companies are struggling, or if our teams cannot achieve what our organizations need to be successful. It’s like the difference in sports between practice and the big game. Normal times are when leaders game plan, strategize, and work on our fundamentals. Crises are the time to focus and leave it all on the field.
That said, do not fail to observe and note what works well and where you struggle. If you had problems with data quality or inefficient processes before the crisis, you are not fixing them now. Pull out the duct tape and find a way through it. But later, when the crisis subsides, learn from the experience and get better for next time.
Find a hobby. Anything you can do to clear your head and separate work from the other considerations in your life. We may feel like the weight of the world is on our shoulders, and without a pressure release we will not be able to sustain this level of stress and remain as productive as our teams, businesses, and families need us.
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