Napoleon Hill hits on the Master Mind concept pretty hard in chapter six of Think and Grow Rich. Truth be told, we don't know it all, so if we really want to do something big we do need the help of others. I would seek out (via referral) a small Master Mind team. Get a Realtor, a CPA, a Lender, an Estate Attorney and an insurance person and you're good to go.
Then come up with an educational "Webinar" idea. Work on it weekly together until you have the all the details penned out. You can get an account at www.GoToWebinar.com pretty cheap, especially if your group shares the cost (why not, since you'll be doing these at least once a month right?). Now you market the webinar via email to your databases, each to his own. I would market it at least two or three times before the webinar. These webinars can be set up so that when it's over, an email gets sent automatically to the participants. This email of course would have the contact information for all of the "hosts" of the webinar, allowing the participants to make contact with them for their services.
It's a simple idea, but you need the right team. Remember, Hill tells us if we don't hit the "sweet spot" the first time, don't freak out. Simply go back to the drawing board and keep what worked and re-tool what didn't. Eventually you'll have a lead genertating machine on your hands.
I was talking to a Realtor that works for Keller Williams a while back.She was super excited to be with them because of how innovative they are.One of the things she pointed out was that they offer coaching.Their coaching is a little different with respect to how they get paid - the coach gets 10% of every closing.Personally I think that’s pretty cool seeing how the coach’s pay is directly connected to the results of the person being coached.
So I asked her what the coach did for her.I’ll make it short and sweet for you – even with all the technical innovations that are out there, the coach hammered her on “making her calls”.It’s so interesting to me to make note of how sales has really never changed over the ages.I read sales books almost every day, and I can tell you, it’s all about relationships and personal contact – that’s it.The other thing that’s interesting to me is that in my 7 years in the mortgage sales industry and sales carreers prior to that, I’ve found that “personal contact” through “making calls” is the number one thing that salespeople don’t want to do – weird.
So all the sales greats say that we should make our calls and most of the salespeople in the world don’t do it.Why?This doesn’t make any sense.Are all the sales teachers and coaches in the world wrong and all of the salespeople right?Nope.Based on my personal experience all of the coaches and teachers are 100% correct.I remember back in 2005 I decided to employ the services of a coach.
My coach had one thing in mind for me – make my calls (go figure).The difference between me and most others is that I did it.I wanted to see if there would actually be an increase in my business, so no matter how uncomfortable I felt about it, I picked up that phone and dialed.I was making at least five calls a day for several months and tracking it.The first thing I discovered is that literally everyone that I spoke to was very happy to hear from me – everyone.No one was mad or irritated, they were genuinely glad to speak with me – weird.
The next thing I discovered was heartbreaking to me.Within my first 50 calls or so, I realized that I had LOST about six deals within about a four month period from the people in my database.These are my past clients, family and friends here.Keep in mind, that although I wasn’t a “phone caller” I was very consistent with monthly mailers to stay in touch, and yet I still lost deals to my competitors.Another startling discovery was the consistent responses from the people that “left me for someone else”.I asked every one of them “why didn’t you give me a call? Have you been receiving my mailers?”Their response was always something like “yeah, wow, I’m sorry.I should have called you but “I was TALKING to this guy” and one thing led to another”.Hmmm..“Talking” to this guy?Newsflash people – if you think for a second that your past clients, family and friends are 100% loyal to you even if you don’t make your calls – you’re simply being foolish.
The results were staggering.During one of the most difficult times to generate business in our industry, I was originating and closing about six deals consistently every single month.Now I know these numbers may not seem like much to some, but at that time in that market I was one of the top producers in my office and I was managing it.I was watching good loan officer’s drop like flies around me as the market caved in around us and I was closing deals.I did my best to coach them by encouraging them to make their calls.I would show them my results as well, but mostly to no avail.Only a few took heed to what I was doing, and guess what?They are still in the business to this day.All of the others fell away to leave the industry completely, why?Because they didn’t have the guts to pick up the phone and simply “talk” to their past clients, family and friends and ask them for a referral – how sad is that?
Legislation, which still must be passed by the House, would provide a $6,500 tax credit for homebuyers, as long as they had been in their previous home for at least five years.
The tax credits would be limited to homebuyers who make $125,000 or less as an individual or $225,000 or less as a couple. The cost of the home being purchased may not exceed $800,000.
If these provisions become law, will it push you off the fence? Why or why not?
Those of you that have been waiting for an update on the first time homebuyer tax credit, and a possible extension, may be happy to hear that this is all but certain now.
The senate will vote next week on the bill but it appears certain it will go through.
Great news for first time homebuyers is that the income limits have been increased from $75,000 to $125,000 for individuals and up to $225,000 for couples. This will bring more buyers into the market that will be able to buy larger homes and boy have we needed that!
The other great news is that the tax credit is available to to folks who have owned their current homes for more than five years! This is awesome news and I am sure will help the momentum that have seen house prices climb now for two months in a row. The amount for this category is $6500.
Don't forget in the Atlanta market we have about 20 programs that will allow buyers to borrow 100% of the sales price by using grants and government down payment assistance programs.
H.R.3706 - To require borrowers under FHA-insured mortgages for single-family housing to make downpayments of at least 5 percent and to prohibit financing of closing costs under such mortgages.
Today the Georgia Department of Community Affairs announced a new down payment assistance option to its Georgia Dream Homeownership Program. The Georgia Dream "Plus" option offers down payment and closing cost assistance for first time home buyers with incomes up to 100% of their Area Median Incomes (AMI). Georgia Dream's down payment assistance options are normally restricted to borrowers whose incomes are at or below 80% AMI. This assistance comes in the form of a second mortgage loan, with a zero percent interest rate and requires no repayment until the home is sold, refinanced, or no longer used as the principal residence of the borrower.
The Georgia Dream "Plus" option provides $5,000 for down payment and closing costs to borrowers whose total annual household income does not exceed the following:
In the Atlanta MSA:
One to two person household- $71,000
Three or more person household- $82,000
In all counties outside the Atlanta MSA:
One to two person household- $61,000
Three or more person household- $70,000
Georgia Dream's "Plus" option can be used in conjunction with the Federal & State tax credit for first time home buyers. The "Plus" option is available to eligible borrowers through Georgia Dream participating lenders and must be used in conjunction with a Georgia Dream first mortgage loan.
There is limited funding for Georgia Dream "Plus," therefore, all interested borrowers are encouraged to check with Craig Bland at Academy Mortgage -678-234-0545 ASAP.
One of the questions I am often asked as a mortgage advisor is "if my parents co-sign will I still be eligible for the $8000 First Time Homebuyers Tax credit?"
Well I have an answer - direct from the IRS's mouth!
Finally an answer to the question we get so often - Taxpayer A is a single first-time home buyer. Taxpayer B (parent) cosigns for A and does not qualify. Both names are on the mortgage. Can Taxpayer A claim the credit and, if so, how much?
Hi,
I researched your question concerning the First Time Homebuyers Tax Credit. I've included the web links to the information as your source material.
Here is a sample of what is on this web page above:
QUESTION - Taxpayer A is a single first-time home buyer. Taxpayer B (parent) cosigns for A and does not qualify. Both names are on the mortgage. Can Taxpayer A claim the credit and, if so, how much? A. Yes. Taxpayer B is not a first-time homebuyer and cannot claim any portion of the credit, but A may claim the entire credit ($7,500 for purchase in 2008; $8,000 for purchase in 2009), if the home was purchased as Taxpayer A's primary residence.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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