The Real Estate Investor's Magazine
I just got back from a trip to the beautiful Caribbean island of Aruba. More than just a fantastic vacation in the sun, it also offered plenty of insights on how to better operate in the real estate and mortgage note business.
Finding Deals & Doing the Math
I took off with my boys for the week for a pure family vacation and some great quality time. We scored some very well-priced flight tickets out of JFK, and stayed in the Marriott's Aruba Ocean Club. My one regret is probably not having chosen to go all-inclusive upfront. We ended up spending a ton on food in the hotel. At least until the day we took ATVs around the island to find the sweet spots where the locals eat.
There are lots of valuable analogies in this experience that apply to real estate and note investing too. For a start, if you stay prepared and are flexible in considering a wider choice of investments you can find some real deals to take advantage of. Secondly, of course unless you get your boots on the ground (or have someone do it for you) and do your research and math upfront you can end up spending a lot more than you expected to maintain that investment. It might not be food, but having to pay to for miscalculated renovation cost in a rehab or curing a lien on a property you hold the note on.
Testing & Improving Your Business
I purposely left my phone behind on this trip. I know that is going to sound crazy to some of you, but I survived! I also decided to disconnect from all social media outlets during this trip.
It was a great way to truly put the systems and teams I have put in place to the test. They had to survive without me in the office for eight days, and really solve problems for themselves. Fortunately, no big disasters happened, and it showed me and them how competent they are. There are always tweaks to be made, like ensuring teams and staff have more direct communication with each other to keep things moving without me, be it worked out fine.
I highly recommend outsourcing it helps to put the focus back on the core functions of the business and gives a great foundation to handle scalability and growth.
I also finally found the time to get around to editing my next book. It’s only in moments when you shut everything else out and step back from the business that you can find the time to work on bigger things, and focus on injecting more quality into things instead of being caught up in the rush of the daily business.
Take More Vacations with Family
Even without my phone I really had what was most important with me - my kids. When you are busy working and building a business it’s easy to just be around each other without really being engaged with each other. This was a memorable time to enjoy both and really anchor our relationships.
These are the times that all the hard work is for. Use and enjoy them regularly & stop making excuses, Just do it!!
Find out more about investing in secured debt and real estate, go to NNG Capital Fund
Copyright Image: Caribbean Sunset, Aruba by David Stanley
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