Impacts of Increased Interest Rates

Almost everyone knows that the Fed has increased interest rates and will continue to to do so for the short to mid-term future. I call this a transitional time because we are moving from historically low interest rates and, as I write, it is difficult to tell what all of the impacts of higher mortgage costs will be. In this video, I discuss some of what I see happening and I try to project what may happen. Feel free to call me to discuss how these rates may impact you.

A Simple Way To Build A Real Estate Empire

Based on what I now know (after nearly 40 years in the real estate business), if I were fresh out of college, I would approach my real estate purchasing differently.

First, I would purchase sooner. Instead of paying rent I would use that money toward a mortgage.

Second, I would buy low down payment properties that I could live in and I would have lived there.

Thirdly, once I fulfilled the lender’s owner occupancy time frame requirement, I would purchase another owner occupant, low down payment property and I would have moved into it.

Fourth, after moving into my next home, I would rent out my previous property.

I would keep doing this pattern until I purchased too many properties or my needs changed. Feel free to call me if you would like to discuss implementing a version of this plan.

Does failing to plan mean planning to fail?

Earlier this week, it occurred to me how important planning is to success and how its’ lack leads to most failure.  In this video, I discuss how at NextHome KU Realty we collaborate to build solid executable plans for each of our associates.  Once the plan is put to paper, we then focus on it and pay attention those activities that lead to success.  With regular reviews, we are able to accelerate growth and avoid significant downturns.  Feel free to call me at 398-3220 if you would like to discuss your plan.

 

A Quantum Leap!

At the beginning of 2017, I wasn’t looking for a national real estate franchise.   By accident I came across NextHome and my world began to change. I liked the logo and my morbid curiosity made me Google the company. The NextHome corporate website was clean, simple, professional and compelling. NextHome’s CEO James Dwiggins offers an introduction video at the NextHome.com and at the end of that short video it I felt as though he had summarized the way I’ve always thought a real estate company should be operated. The more I researched the company, the more I liked it. Then I looked into buying the franchise.

Charis Moreno is in charge of NextHome franchise sales, our initial conversation led me to want more information and she put me in contact with a number of current franchise owners. All of these real estate brokers were like me, successful and former owners of other national real estate franchises, all of them couldn’t think of one bad thing to say about NextHome.

It was time to get my wife involved and for me to present the case for considering owning a NextHome franchise. In the initial information gathering stages, I was hesitant to share it with her without having all of my own concerns addressed. Now that I was on board I wanted her former CPA mind to play devils advocate to my optimism. Guess what, she thought it was a fantastic opportunity! Charis made a comment regarding the type of person NextHome wanted as a franchisee that closed us on moving forward, she said “We don’t want and okole’s!” Call me if you want an explanation of okole.

Well, it has been 4 months since the decision was made and August 1st marked the transition from KU Realty, LLC to NextHome KU Realty. As I see it, NextHome KU Realty brings the best of KU Realty and adds a quantum step up in technology services, branding and support. After selling real estate since 1983, it is amazing to feel the energy this new opportunity brings to me, my clients, associates and Honolulu’s real estate market. I am excited to see the vision of a very special real estate come to fruition. Saddle up, buckle up, hang on and watch this grow!