(By Kevin)

Why Do You Need a Coach?
 

The title of this section asks a good question.  If you want to go somewhere you've never been, or you're having difficulty focusing on what you should do, or you're busy but your goals aren't being accomplished, then you need a coach.
 

Last month Mary Jane and I hired a coach to help us sort out what we should be doing to accomplish our dreams.  The last 30 days have been life changing already and we are only one month into our program.  The study, exercises and one-on-one time are helping clarify what we want and how we are going to get it.

We've hired coaches before but never anyone with such a rigorous program that teaches universal truths and at the same time is flexible enough to help people achieve any kind of dream regardless if it is to build a business, lose weight, start a business, improve your work, or personal life.
 

There are a lot of coaching programs out there so let me lay out what I have found to be the essential elements of a good coaching program.

• The most important thing is You, need to be coachable AND do the work.  Not everybody is ready or willing to be coached so don't waste your money or time.

• The coach will have a program overview document that you can review to understand the path you will take. 

• The program will teach universal truths about human nature that will facilitate your mindset adjustment.  So much of how we react to our lives is controlled by our thinking process and belief systems.  If you aren't where you want to be, these need adjustment.

• The program will teach universal success behaviors.  For instance: you must take action, success requires focus and vision, a strong work ethic is a must, write stuff down make it real, goal setting, journaling, etc.... 

• The program must be flexible enough to meet your specific requirements.  We have several businesses as well as personal growth issues to address, flexibility was a major decision factor for us.

Here is what I think a good coach provides:

• Listening - a good coach will listen to what you need and adjust his program to fulfill those needs. 

• Accountability - There will be continuity between your coaching sessions and good coach will hold you accountable to do what you committed to do.  

• Expertise - a good coach will have expertise in areas where you need help. 

• Validation - a good coach will let you know when you are on the right track and provide encouragement. 

• Insight - good coaches will see things about you that you don't see and they'll help you correct it. 

• Directness - you've hired them to help you.  Take their council like an adult that wants to change.  Keep in mind they want you to be successful.  Directness will help you achieve your goals faster. 

• Vision - coaches will see the possible when all you can see is the day-to-day. They will help you develop your own vision so you know where you're going. It is the only way to get there. 

• Strategic - most of us operate tactically day-to-day, coaches will support your vision and teach you to think and act strategically. 

• Drive - coaches will push you to do more in less time to help you reach for goals. 

• Resourcefulness - coaches know how to get things done that you might not know how to accomplish. 

• Focus - coaches will help you focus on the important things that will accomplish your goals.  Work on your business not in it. 

• Speed - coaches will shorten you timeline to success.

All great athletes have a coach. 
 

All the super successful entrepreneurs I have met have at least one coach. 
 

Many successful fortune 100 executives have a coach.
 

There's no doubt that a good coach will help you achieve your dreams.  So why don't most people get one and invest in themselves? Why don't you?

As a bonus for our readers, our coach, Paul Finck, is offering free tickets to his three day event, just click here.  If you can't make one of the current locations or times let me know and I will see if there will be an event more convenient for you.

Industry News  

(by Kevin) 

Renting More Expensive Than Buying a Home?

I recently read an article that reports that renting is more expensive than home buying?  And while this may be true one of the building blocks of their conclusion is flawed.

They utilized a recent affordability report that states that in the third quarter of 2014, renters in the US were spending an average 30% of their monthly incomes on rent, while homeowners were spending just 15% of their monthly incomes on their mortgage payment.

Well that may be the case but, what about the other costs of home ownership such as lost opportunity cost for the down payment money, or the fact that taxes and insurance may not be in the mortgage payments, insurance costs are higher, and certainly maintenance costs are higher.  Also, could it be true that homeowners have larger incomes and therefore it requires a smaller percentage of their income to cover the mortgage?

Even with that said, some parts of the country rent is higher than a mortgage.  Even here in the DC area this may be happening. For instance a $500,000 house, with a $400,000, 4%, 30-years mortgage would have a principle and interest payment of $1,909 and there is a real possibility that a house in this price range would be renting for $2,500 - $3,000 per month.  So add in taxes and insurance to the monthly payments and it may save money on the monthly costs to purchase rather than rent.

As rents rise above mortgage payments more people will buy which will tighten the housing market and raise prices and thus mortgage payments

Top 5 Multi-Family Predictions

Byron Carlock, Jr., U.S real estate practice leader with consulting firm PwC. Carlock predicts the following:

• There will still be a shortage of housing units in most major markets, and the industry will see an affordable housing problem in the top markets. 

• Multifamily demand will continue to increase with urbanization trends, which are attracting baby boomer and Millennial cohorts to multifamily housing. 

• Nearly 29 million Millennials still live at home (due to student debt and delayed entry into jobs that allow self-sustenance). They will move out and start their own households over the coming years as the economy's slow recovery continues. 

• Ultra-high-end multifamily condo housing in certain major markets is seeing high prices supported by foreign buyers, although questions are emerging as to the depth of that buying community. A slowdown in the escalating prices in New York City is beginning to be discussed. 

• Multifamily housing will continue to provide greater flexibility and mobility and be deemed more convenient by those seeking to simplify their lifestyle, downsize or maintain locational flexibility due to job or family issues.

Laughs and Interesting Stuff 

(Kevin and Mary Jane)

(so people will wonder what your up to AND its contagious)