Welcome back to The Annenberg Report, my weekly newsletter bringing you the latest trends in real estate investing, building, development, and property management to help you with building wealth the same way I do from owning and managing my own portfolios of income-producing, equity-rich real estate nationwide!
After 59 years on this planet, I’ve come to realize a few things! “You either solve problems or you create and act on some kind of opportunity!” There really is nothing else to making money and being successful. What’s interesting is different people have different problems and are also attracted to different opportunities. Example: an out of work actor has a problem. He needs to find work to either make his living or pursue his fortune, thus fixing the problem.
A real estate agent who is not making ends meet has their problems. They need to either get listings and sit back and collect money from other agents who are selling their listings, or they need to attract buyers so they can show other realtors listings to their buyers, thus fixing their problem! Either way, people in different professions have different problems to deal with along with opportunities for them to possibly act on it! That same real estate agent may come across a very lucrative advertising opportunity. Where they may be able to run a full-page magazine ad targeting a market in their area for a very reasonable price which if that advertising opportunity pays off could realize a lucrative hundred or two hundred percent return on their advertising investment easily! (example: realtor A takes out a full-page ad in a local targeted magazine to wealthy local residences. The cost of the ad is $2,000 for one run.) Let’s say from this ad alone, that realtor gets only one sale from just one new client. Pretty bleak wouldn’t you say? But remember that one sale was a $400,000 house that she got to list but another realtor actually sold the house. The commission to the listing realtor is a whopping $12,000. Remember that’s a huge return on a $2,000 advertising investment. Although there is a risk involved, but only up to the amount of $2,000.
What if she got two listings from this ad? How about three?
The actor may solve his problem by getting a new agent, or he may have to go on auditions every single day, day after day just to get that one part that pays the bills for either the next few months or years! Anyone that’s successful in any field is constantly solving problems or creating and acting on the opportunity at the same time! I rarely see anybody that makes it big and is living large that does not have to deal with these same opposing forces, solving problems and acting on opportunities!
Myself as a property owner, I have problems to deal with every day, and at the same time, I have opportunities to act on. Probably the biggest problem anyone in the world of real estate is the #1 common problem raising capital to acquire more properties! That problem requires a constant effort to seek out new financing sources, partners new ways of producing liquidity. Even small properties require big money! In addition to raising capital, I also must keep my properties rented and in a good state of repair. This requires time, expertise, experience, and of course money (to buy materials and to pay for labor). This is where many small-time mom and pop real estate owners lose lots of money all because they lack the expertise of good property management.
I remember in 2014 amazing real estate opportunities came to me, but they also were not without problems to solve! At that time I was able to act on these opportunities while solving most the of problems. Interesting as at this time there were many people I knew in the real estate business that never acted on these amazing acquisitions that were actually right there in front of them just mouse click away. (NOTE: I was buying bank foreclosures directly from homesearch.com paying as little as $.15 to $.20 on the dollar for amazing houses!) Those opportunities paid off very well as today 2020 my family and I are enjoying the fruits of our labors from a few years prior! I acted on these opportunities and I solved the problems that came with these opportunities. Therefore, I’m entitled to the profits plain and simple!
Let’s say you have mice in your house. The easiest way to solve that problem is to get a cat. Right now (2020), people have all kinds of financial problems, unemployment is at a record high, businesses are closing everywhere. People who can’t pay their bills right now because of being out of work are the same people who haven’t done any prior investing.
In The Annenberg Report, I give you the skinny on the situation as I see it. Business, real estate, health, and well being, politics, and other topics I believe are of great value to my readers. Click here now for your free subscription!
About The Author
- Robert Louis Annenberg Is a 40 year seasoned property owner, manager, investor, builder/developer and business man who is also an author of five published books to date (Amazon.com) and the chief editor of LifeQuestJournal.com. He can be reached at: [email protected] and (201) 289-2500.
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