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Costco is one of my favorite stores. They built one just after we moved into our house so that I can go there at least three times a week. They have clothes that fit, my favorite coffee, roasted chicken and a large selection of organic fruits and vegetables. Plus, when I need it, I can get a gallon of that Dijon mustard I really like. Most of all, Costco is very convenient and saves me time.
These guys at Costco are very clever. Each of them has a similar floor plan, with the electronics section immediately in front of your just after you show the front door attendant your membership card. I often stop and look at the televisions. They have all sizes, various high definition TV's, and even some with a curved screen. I'm not sure what that is all about, but each one of them has their price right there to see. Then I have to ask myself, I see how much it costs to buy a new TV, but what is it going to costs me??? To watch it??? I figure watching a couple of hours of TV each night would cost me about $25,000 - $30,000 in income each year.
If you happened to watch my #fridaystroll on Facebook this past Friday, I spent a few minutes talking about time. Each of us is allotted 86,400 seconds each day and it's up to us to decide how we are going to spend them. At the end of the day, they are gone and we will never get that time back. I would almost guarantee that if that was money, you would keep a better watch on where the money went. Funny thing is, we can always get more money; we can never get more time. Here's a link to my #fridaystroll:
I've often struggled with not thinking I have enough time. But, in reality, I have all the time that there is! As I work a full-time day job and continue to ramp up my note business, the constant pull from multiple sources increases. I need to be constantly making choices about how to spend my time. So do you. I believe that each of us has a calling we are drawn to; we were built for, and devoting our efforts and energies to finding and fulfilling that calling requires us to make decisions on how we spend our time. Unfortunately, for many of us, that time gets rescheduled for our job ~ which is commonly referred to as Just OverBroke. While we all must earn an income to cover our expenses, you will never add to your wealth unless you earn some of that income passively, even while you sleep.
So how does this all wrap into note investing? Most of it is a reminder to me that I must ask myself is what I am doing my "highest and best use", or am I drifting off course without focus? Am I helping others achieve what they want, knowing that in doing so I am achieving what I want? I strive to provide an opportunity for people, just like you, to potentially increase their investment returns by passively investing in promissory notes secured by residential real estate. With almost 36 years in the mortgage industry, holding a variety of different positions in the industry, understanding the process, foreseeing the hidden details that can add or subtract from the returns, I bring a certain skill set to the table, so to speak. Frankly, that's a bit of a self-serving statement that's hard for me to write, being the humble mortgage guy I am. Never-the-less, it is accurate.
For the past several weeks I've been working on a large purchase. We started out in mid-April submitting indicative bids on 55 non-performing Contract for Deeds. From that, we whittled that down to 27, to 22, down to 12, and finally to 7. Our company acquired 5 of those, and the other two were purchased by associates. It took time to get that accomplished. With patience from the selling entity, a couple of inspired investors, and a couple of other note investors, we made the trade. The house shown in the photo at the top of this email was one of our purchases. We look to forward to making right party contact with this homeowner in the next week or so and finding the solution that works for them, my investor, and our company. This plays out time, and time again.
Thanks for reading. When might it be your time? As Steve Miller used to sing, "Time keeps on slippin', slippin', slippin' into the future." Let's not have the future arrive and you not be ready for it.
Together, our potential is infinite!