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Tips for Real Estate SUCCESS from an Investor/Publisher

Tuesday, March 27

by Linda Pliagas, investor/publisher

On February 2nd of this year, I was scheduled to be a guest speaker at the Beverly Hills Country Club for Sam's Real Estate Club, which is directed by a good friend of mine.

I wanted to really do well and inspire our guests, so I jotted down a few tips that have made a difference in my life and level of success -- in real estate and as an entrepreneur.

I want to share them with you.

Let me know what you think of "Linda's Top-Secret Success Tips".

Humble Yourself to Achieve Greatness.

Sometimes we have to start at the bottom or ask for help. Don't be to proud to ask for assistance. You will be surprised how many people will want to help you.

Try and get a mentor. Older people are a great treasure and source of information, don't bypass their wisdom!

Sacrifice and Save, it's Good for You.

Don't fall for the "instant gratification fix". In order to start as an investor, you do need some money. Be careful of your spending habits, always put away money for short and long-term investments.

I was fortunate to come from a poor background, so I have developed a strong threshold for doing without, which has really helped me save and develop a disciplined plan for investing. This also expedited my wealth accumulation.

Enjoy the AWESOME Ride.

Success is not a Destination: It's a Way of Life!! Don't wait to be happy until you're a multimillionaire. Be happy and thankful now, but always expect and strive for greater.

Sometimes success doesn't come in the way we want or as quickly as we would like. Don't get discouraged, have certainty in the outcome.

Work as hard as you WANT IT!

Don't just sit back and relax and wait for abundance. Go out there and make it happen. Be proactive, take measurable steps towards your goals. Success is not meant to be easy, so how badly do you want it?

Enough to work a few extra hours? Enough to take that extra class to stay on top of the curve? Enough to write that extra email when you really feel like going to bed?

Your Best Investment Starts with Yourself.

Having a solid educational foundation is important. Having a degree can up your annual income by $25K. A graduate degree will give you $45K more, year after year!

Your level of education is also important in how you perceive yourself and how others perceive you. It's also important to also take seminars, boot camps and refresher courses to keep up to date with what is going on.

Leverage is a Double-Edge Sword

Using leverage to grow your portfolio is important, however proceed with caution. Being over-leveraged is risky and can send your portfolio tumbling.

Be wise on what you can handle, slow growth generally means stable growth. Don't be so obsessed with having so much that you end up losing everything due to greed and mismanagement.

The Golden Rule: Do unto Others...

Real Estate is a relationship-based business. We need our property managers, they need landlords. We need our tenants, they need investors. Don't be cocky and belittle people, everyone has a special gift and talent.

So always be gracious and charming, which is NOT EASY.

Remember: If you are a joy to be around with, you will NEVER lack business, real estate partners and deals!

People will bring success right to your doorstep and want to help you because they LIKE you and want to be around you. Be a money magnet just by having a great personality, and watch the business come directly to YOU.

6 Keys for Financial Freedom - Not easy, but it works!

Sunday, March 25

By Linda Pliagas, editor & publisher of Realty411 magazine

Everyone yearns for abundance and financial security, it is a human desire we all share. It is a motivation ingrained in us as part of our survival mechanism.

While we all have this in common, only a limited few ever actually reach true financial security.

The statistics can be depressing. According to the Retirement Confidence Survey (2006), 53% of Americans have less than $25,000 in retirement savings. Plus, 30% mistakenly believe that they will only need $250,000 or less in total retirement savings.

One of the problems in our society is a lack of discipline in regards to saving. In fact, a recent study by Harris Interactive found that 57% of households do not even have a budget (2009 Financial Literacy Study).

In my 20 year plus career in journalism, I have interviewed many successful and wealthy people, from celebrities to company CEOs. Undoubtedly, a perk to this profession was being able to unlock their secrets.

I’ve compiled a list of important guidelines, which were followed by many of those who transformed their mediocre life and average paychecks into extraordinary wealth.

These steps are not easy to follow, but they will get you started on a disciplined path and lead you toward creating a wealth-conscious mindset.

1. Reduce Your Household Expenses.

In California, we have some of the highest real estate prices in the nation so reducing living costs can be a sacrifice. One move that I have seen many real estate moguls make is that they start off their portfolio with a multifamily investment.

For example, if you are a first-time home buyer (or even an empty nester), be open to the idea of purchasing a duplex or other multifamily property instead of a typical single family residence. This way, you can live in one unit and rent out the other for income.

As a landlord myself, I know it’s not easy to live near tenants, but if you screen your prospective renters correctly, it will reduce future nightmares. Be smart, let other people pay off your mortgage! You can always save money and then buy another home later, after you build a passive income stream.

2. Increase Your Formal AND Financial Education.

Did you know that earning a bachelor’s degree can increase your income by $25,000 annually? Plus, it gets better:

According to Census Data, earning a graduate degree will net a person another $20,000 per year — that’s $45,000 more, year after year!

Now, don’t complain about the high cost of education or how “hard” it is to go back to school. My former neighbor was in her 50s, running her own business and attending?graduate school part-time. It’s never to late!

It’s also important to keep in mind that universities do NOT teach people how to get rich. So on top of your formal education, start taking classes about investing.

Financial classes are taught at most adult schools and colleges for a nominal fee. I have also attended real estate seminars for many years and have learned great tips from a variety of mentors.

3. Be an Aggressive/Conservative Investor.

Although it may sound like an oxymoron to be both aggressive yet conservative, it isn’t. It’s all about planning. The amount of risk you take with your money should be related to your age.

The younger you are, the more risk you can handle. But, don’t be foolish: One should never invest in something they do not fully understand. If stocks interest you, start learning about the market.

Learn how to decipher financial statements. If real estate is your game, start attending REIAs (Real Estate Investment Associations).

Also, don’t get greedy! I’ve known investors so desperate for that 20% return that they gave their money to unscrupulous companies only to never see their principal again!

Guard your principal, settle for less interest if need be. If the money is lost, it can take years to rebuild.

4. Don’t Follow the Crowd.

Most Americans are broke, why on Earth would you follow their bad habits? Trying to keep up with your neighbors can destroy your chances of financial freedom. Also be mindful of competition between family members.

For example, some families love to outdo each other in their travels. It’s non-stop cruises, trips to Hawaii, and weekends in Las Vegas. But guess what? They’re BROKE!?

Some people who know me may make fun of my frugality. They can jest all they want because I’ll be laughing all the way to the bank!

Many wealthy people are odd and eccentric, I used to think that money made them like that, but now I realize that they just don’t care about what others think. It was probably this defiant attitude that helped make them rich in the first place.

5. Saving is Sexy, It’s Fun to Be Frugal.

If saving is a deplorable chore, you won’t do it. If clipping coupons and wearing off-the-rack clothes is beneath you, then you need to change the attitude.

Start making a game out of saving and being frugal. See how much money you can put away in the cookie jar each week. Before you spend a dime, consciously think about the action you are taking.

Figure out if there is a better way to get what you need at a lower cost. Can you buy it second hand? Does someone else you know need the same thing? Can you barter an item or service in exchange for what it is you need?

Hold on to your pennies because they can accumulate into a fortune.

6. Step it Up a Notch.

Let’s get one thing straight, the 4-hour-work week is a complete myth. The reality is: Success doesn’t come easy. If it did, everyone would have a few million dollars in their bank account.

The wealthy people I know, who were not born with a silver spoon, toiled endless hours to get where they are. Sometimes they worked two jobs just to be able to pay off college debt or save enough money for a down payment on a home.

Others returned to school and juggled employment and family obligations for many years.

If you are not happy with your lot in life and you feel you deserve better, don’t just wish it to be so and wait. TAKE ACTION.

Don’t be lazy, don’t make excuses, and don’t feel sorry for yourself. Stay positive, keep focused, and you will see abundance before you know it.

I hope these ideas will inspire and light your path towards financial freedom.

I welcome your comments, please contact me at:
info@realty411guide.com or 310.499.9545

True Real Estate Stories -- Don't You Wish You Had Tenants Like These!!??

Tuesday, December 13

True Real Estate Stories -- Don't You Wish You Had Tenants Like These!!!

by Linda Pliagas, founder of Realty411, a resource guide for investors

Make no mistake, being a landlord is hard work.

There are rents to collect, people to evict, empty units to make rent ready and so forth.

But then there are times when it's smooth sailing and you wonder why everyone fusses about having to be a landlord?

Take these two stories for instance:

My husband who owns an antique restoration business, has a very wealthy client in his 80s who owns a lot of properties in Santa Monica, Calif. For those who don't know, Santa Monica has rent control (as does most of Los Angeles County), so raising rents to whatever market is annually is not allowed.

Well, this wealthy landlord had a very nice older lady living in one of his buildings. She was pretty much the manager without asking to be. She cleaned the entire outside of the building regularly to keep it tidy, picked up packages for the other tenants who had to work, and kept the owner up to date on any issues in the building. The owner was so appreciative, that he did not raise her rent in years.

To his surprise, one month her rent came in at $150 more with a note stating that she appreciated his generosity but did not feel right about paying such a low rent for the area!

The tenant raised her own RENT!

Here's another true feel-good story for all those landlords who want to throw in the towel and cash out early.

I had a client who purchased a large apartment complex in Texas. The first month that he was the owner of the building, he had to deal with his first vacancy, which made him quite nervous.

To his amazement, not only did the unit rent in a matter of days, but his property manager was able to collect the entire year's rent in advance!

Yes, he prepaid his rent for the year!

These are just two recent true Happy Landlord Stories.

Isn't it nice to know that it's not all doom and gloom out there?

by Linda Pliagas, founder of Realty411 Magazine

7 TIPS FOR LONG-DISTANCE LANDLORDING SUCCESS

Tuesday, December 06

7 TIPS FOR LONG-DISTANCE LANDLORDING SUCCESS

Who is the best person to take care of your real estate investments?

YOU!

So, how does an out-of-state investor ensure their properties are being taking care of properly? Follow these seven easy techniques and you will become a PROACTIVE Property Manager just like the investors in our CashFlowCows.com network.

From my numerous years of managing realty holdings in up to five states simultaneously, I've learned the following information, which I share with my clients. I would like to also pass them on to you.

1. Choose the Best Local Manager, Even if Costs More.
Some apartment building owners choose a property manager based on their fee. They will choose the cheapest company in order to save money. Many different spiritual doctrines teach us that our true reality is often times the OPPOSITE of what it may actually appear to be.

This is also the case in the area of business. Sometimes by paying more now we actually save money in the long run.

Good property managers are worth their fee, plus some! They have a difficult job, one that is filled with constant stress. Imagine, they have to hear it from the tenants AND the owners. Tenants want new appliances, new carpet, they don't want their rent to increase and owners hate to spend money. They want income to surpass expenses and they want their rents to keep up and surpass the rate of inflation.

Great property managers are worth every penny they charge. Great property managers need to be treated with respect and should be admired and rewarded.

2. Communicate Effectively and Often
Many times, investors are hesitant to purchase long distance because they have an issue with trust. The gift of trust (it's truly a blessing to be able to let go) is a quality that may be earned through effective communication. Don't be afraid of asking questions.

Don't be afraid to call and check up on things. It's perfectly acceptable and recommended to call up every so often and check on how things are going. Just remember to be courteous enough not to call the first few days of every month as this time is usually the period where everyone is being worn thin.

I also like to get to know the staff, often the bookkeeper, assistant or receptionist can give you a quick update without even having to check in with your property manager.

An out-of-state property manager is a trusted advisor who has a fiduciary duty to serve you, just like your attorney, your financial planner, or your accountant. You therefore must feel comfortable enough to trust their judgement. If you don't have this level of confidence that I'm speaking of, perhaps you have not found the right property manager for you.

3. Have a Team or Network in Place
Make it a point to meet people when you visit your targeted investment location, initially and thereafter. When I know that one of my buildings needs some work, I schedule it when I visit so that I can meet my handymen in person. If you can, I encourage people to try to attend a local real estate investing club to meet other investors. Other local investors make wonderful acquaintances as they understand the challenges and benefits of landlording

I like to be able to know a few independent people who can visit my properties within short notice and email me photographs when needed. Great people to have in your network are: Local Realtors or Brokers, inspectors, appraisers, insurance agents, and loan officers who live in the area. Local service professionals are excellent team sources.

4. Audit Your Property Regularly
I feel it is important to visit your property as often as possible. Once a year is great, every six months is even better. Remember: It's a tax deductible vacation!

Perhaps your investment is not in a resort location, but the money you make out of it could very well fund your true fantasy get-a-way in the near future.

I know that people who work 9-to-5 jobs may not have the extra time to audit their property, that is why I think our real estate marketing business www.CashFlowCows.com is growing so rapidly because we take regular trips to visit our own investments as well as those of our clients.

5. Emphasize Curb Appeal
Make sure your properties are kept clean. If you are going to spend any money on your properties, a portion of it should be allocated to spruce up its curb appeal. This can really make a positive difference, not only in the value of the property, but it will also attract more desirable tenants.

Clean and tidy people gravitate towards well-kept properties. You will have a lot less deferred maintenance if you keep up the quality level of your buildings because it will automatically attract a different level of renter than a property that has trash spread about the yard or displays graffiti that has not been bothered to be painted over.

6. Take Action Now, Don't Wait for Tomorrow

It's important for those interested in owning real estate to realize that they themselves must take personal responsibility for their investments. In order for a person to thrive in life and in business, one must be ProActive. You can't wait around for things to happen to YOU, you must make things happen.

If you have a vacancy, don't just wait around for it to get rented, take action. I have actually found tenants for my out-of-state properties by using the great online tool called Craigslist. The real estate portal of http://www.craigslist.com/ offers great resources for investors. Many of my investor and real estate colleagues have also located outstanding deals on this website.

The fastest way to find a tenant is through word of mouth. If your tenants are happy, they will alert their friends or family members when a unit nearby becomes available. This is why it's important to have a well-kept property. I also recommend having someone post a "For Lease" sign as soon as you know a unit will become vacant.

Another ProActive way to assisting your manager in procuring a tenant is to place a text ad in the local paper. The world wide web has really revolutionized real estate investing. You can literally find local newspapers online in virtually any corner of the globe (http://www.newspapers.com/) and place an advertisement quickly online.

When it's more challenging to fill a vacancy quickly, I resort to "Specials". My manager in Arizona recommended a "1/2 Month's Rent Off Special", which worked very well.

I also like the "Low Move-In Deposit Special" or the "Pets OK Apartment Special. Here is my ProActive Property Management Formula:

Sign + Advertisement + Craig's List + Specials = 100% Occupancy

Having all of your units fully occupied is the name of the game in the landlording business.

7. Have a Back-Up Plan
The scientific theory of entropy states that the natural order of our universe is chaos. That everything left unattended will begin to fall apart. Whatever we focus our attention on will grow, whatever we neglect will begin to demise. This theory can be seen in our every day life.

If you don't pay attention to your finances, what happens? You begin to shop needlessly or overspend compulsively. If you don't pay attention to your apartment buildings what can happen? Tenants may not pay the rent or the building will have a lot of deferred maintenance, perhaps even worse can happen.

It's important to always have back-up property managers, even if you are currently happy with the team you have, just in case.

By utilizing these tips, an investor can feel more confident when they are ready to expand their real estate portfolio by investing outside the comfort of their own backyard.

Remember: Opportunities for real estate riches can be found around the nation; in fact, around the world...

Enjoy the journey of success in real estate, until next time.

Brought to you by Linda Pliagas, publisher of Realty411, a resource guide for investors:

http://www.realty411guide.com

Realty411 Christmas Mixer / Expo

Sunday, December 04

Hello Investors,

We want to get to know YOU better... please join us for our Christmas Mixer and Real Estate EXPO in Newport Beach, CA on Saturday, December 10th.

We have guests flying in from around the nation to attend, plus investors are driving in from Santa Barbara, San Diego, Los Angeles, Palms Springs, etc...

*** We have reserved 2 rooms for non-stop networking ***

Learn from Top Investors from Around the Country ~

No Bootcamp Sales or Pitches ~ Education Only

This FREE EVENT is our Holiday Gift for YOU...

http://realty411christmasmixer.eventbrite.com/

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5 QUICK Tips to Increase (or Start) Your Real Estate Wealth

Wednesday, November 23

5 QUICK Tips to Increase (or Start) Your Real Estate Wealth

by Linda Pliagas, founder of Realty411/reWealthmag.com

I have been fortunate enough to attend many wealth and real estate seminars in the past ten years. I've had the pleasure of hearing Tony Robins, Dave Lindahl, Shakti Gawain, Lisa Vanders, Vanessa Williams, Donald Trump, Suze Orman, Jack Miller, Peter Fortunato, John Schaub, Scott Meyers and many other successful people speak live.

Here are some prosperity techniques that I have not only acquired from not only attending seminars, but also in my personal experience.

Practicing these holistic tips will increase your bottom line and give you a richer life. To your prosperity!

1. Be thankful for your blessings, but expect more

2. Share what you have unconditionally

3. Learn more, earn more - Always strive to grow

4. Create your tomorrow by seeing and living it today

5. Stay hungry! Act as every deal could be your last

OUR COMPANY SPECIALIZES IN RESOURCES FOR INVESTORS OF REAL ESTATE

http://www.realty411guide.com | http://www.CashFlowCows.com

VISIT OUR NEW WEBSITE: http://www.reWEALTHmag.com

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BiggerPockets

Tips for Real Estate SUCCESS from an Investor/Publisher

6 Keys for Financial Freedom - Not easy, but it works!

True Real Estate Stories -- Don't You Wish You Had Tenants Like These!!??

7 TIPS FOR LONG-DISTANCE LANDLORDING SUCCESS

Realty411 Christmas Mixer / Expo

5 QUICK Tips to Increase (or Start) Your Real Estate Wealth

Linda Pliagas

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