Now that the New Year is upon us we get to evaluate what we did last year and set our goals for the next.

Over the Christmas break I took some time for myself and just looked at what I did last year. First I looked at my personal life and what I need to change, especially the time I spent with family and friends. Then I looked at my Real Estate and marketing businesses and evaluated the time spent on each and if goals were meet. And finally I looked at all the successful events from the last year; what was done and how I can duplicate them.

     As many of you know my personal life is chaotic at best with kids in school, Teresa's travel schedule, and my own travel schedule, so at times it's hard to remember we share the same address! So this year we decided that we would spend our family vacation together away from home with all the day to day distractions. And I even promised not to bring my lap top and only check my voice mails every other day( that's going to be a challenge!) To get away we decided we're going back to Alaska. I can't wait: it's one of the most beautiful places I have ever been. We're going dog sledding again and already have a family fishing trip scheduled. Aside from this, we're going to schedule family weekends even if it means we drive to the kids.  

All of us need to spend more time with family so I suggest you look at your schedule and make time for them. Even if you have to schedule it just like a business meeting in order for you to actually take that time, then do it! Because our families are far more important than any business we have. And I know how hard it is to just put your company on hold for a while but we must take back our lives from the 'business monster' and enjoy time with our families more.

    Now on to your business. By now I hope you have set your business goals. If not you need to make that your first priority and if you want some help just give me a call

 941-716-2597. Remember, goals that are not written down are just dreams.

Look at what you accomplished this past year. Did you meet your goals? Did you make the money you wanted? Did you do all the things needed to reach your goals? If not then take time and evaluate what worked, and what didn't. This will be a good start for getting your goals adjusted for 2011.

If you're in the Real Estate business 2010 was a trying year if you just sat on the side lines waiting for something to happen. But if you were actively looking for deals and working with others to acquire properties you had a good year. Right now long term positive cash flow deals are all around us and can be purchased for a great price. And 2011 holds even better promises for those who are willing to take calculated risks and do the leg work to find good deals. I'm not expecting any major changes in 2011 for our industry. Foreclosures are still going to rise because more and more people are going to make the decision to do a strategic default on their homes. Most states are taking two or more years to foreclose and with a good attorney some can get over three years. The State governments now are starting to sue banks and Wall Street for fraud and other violations. Private funds are asking for their money back since they thought they were buying high quality mortgages instead of subprime mortgages. And private mortgage insurer are also refusing to pay claims on mortgages saying the mortgage were fraudulently  obtained so they are not required to make good on the notes.  Let's not forget Fannie and Freddie: they are still broke and require more cash from the tax payers.  All in all if you're willing to take calculated risk and plan for the long term I believe there will be lots of money to be made.

For the folks who love to flip for quick cash: your market might get tight but if you're not greedy the folks looking for long term deals will buy your deals. So keep your eyes open for great deals and remember to market to the long term deal gang.

Obtaining bank financing is still going to be a challenge. I don't expect the markets to loosen up that much. With Europe in the throes of a major recession and the EU bailing out member Countries before they collapse, lenders have tightened up everywhere. But don't let all this discourage you from moving forward. There are other ways to get financing. With all this if you're on the lookout for great deals and ready to purchase them you should have a great year.

If I can help you in any way just call me at 941-716-2597.

One last thought:

I strongly recommend that you keep a close eye on the European market and how the EU handles this cash crisis. As we've learned, our own Federal Reserve has been pumping up banks in Europe trying to keep them solvent. All this 'lending' will have a direct effect on our markets, so pay close attention to this.

Paul

Quotes Of The Month

No action, no change. Limited action, limited change. Lots of action--- change occurs.

...Catherine Pulsifer

There are risks and costs to a program of action. But they are far less than the long-range risks and cost of comfortable inaction.

...JFK

When it is obvious that the goals cannot be reached, don't adjust the goals, adjust the action steps.

...Confucius