Pareto’s Principle

Pareto’s Principle

    Vilferado Pareto was an Italian economist in the late 1800s. While working at the University of Lausanne, in Switzerland, he noticed that income was unevenly distributed throughout Italy. After researching the issue, he determined that approximately 80 percent of the land in Italy was owned by 20 percent of the people. This led Pareto to investigate other countries where he discovered a similar statistic ⎯ 80 percent of the…

Don’t be stupid

Don’t be stupid

  I’ve been blessed to have a great friend — but an even better mentor — by the name of Bill Cook. He’s the man who taught me most of what I know when it comes to property management, creative deal structuring and running a real estate investing business. And to this day, he challenges me to be better.   You may be asking how Ashley and I earned the…

Checking the state of your flock

Checking the state of your flock

  I was having lunch with a good friend and investor named Emmett, recently. We talked about the current market and strategies we’re implementing, and we discussed what we see our other investor friends doing.   One of those friends hasn’t done many deals lately because she got her start when the market was at the bottom. Now that the market is moving so much, she is afraid it will…

It’s not about you. It’s about them.

It’s not about you. It’s about them.

  I had two recent experiences that were the epitome of poor customer service. One was at a recent closing where the real estate professionals were bantering back and forth so loudly that the attorney and the buyer (the actual customer who is paying everyone’s salary at the table) couldn’t hear each other. The second was at a big box store where I had a less-than-enjoyable time picking up some…

Rotating out

Rotating out

  “The Ranger Regiment is the U.S. Army’s premier large-scale special operations force, and is made up of some of the most elite Soldiers in the world,” according to goarmy.com.   For the past two and half years, I’ve had the pleasure of having a Ranger work for me. His name is Miles McGuire and he’s currently my project manager.   During our time together, Miles has told me stories…

Remember to be Thankful

Remember to be Thankful

  Ashley and I went up to Kentucky to see her side of the family for an early Thanksgiving. It was great. Her Dad lives in Pulaski County, and the mountains there are just beautiful. We spent our time riding the kids through those mountains on four wheelers and visiting with family we see only a few times a year.     We came home the day before Thanksgiving. Traffic…

66 Days

66 Days

  Gary Keller, founder of Keller Williams Realty, wrote a fantastic book called “The One Thing.” In it, he challenges some modern ideas about multitasking, its effectiveness and its impact on the successfulness of your career.     His basic conclusion is that multitasking is a farce. He sights a study performed on college students to determine their effectiveness while multitasking. What the researchers found was that the people who…

A land of abundance

A land of abundance

  I read a familiar story with Ashley and the kids last night out of the biblical book of Numbers. In chapter 13 we read that Yahweh had just led the children of Israel out of Egypt, they’d organized themselves into an army, and were planning to spy out the Promised Land.   They chose 12 men for the recon mission inside of Canaan. Among them was Kaleb, son of…

There is no such thing as failure

There is no such thing as failure

  This morning I watched a video presentation by world-renowned motivator and educator Brian Tracy. He spoke of a study performed by the Harvard Business Review that included interviews of Fortune 500 CEOs. One of the questions asked was, “What was your biggest failure and how did you react to it?”     This question stumped the CEOs. They would often look perplexed and ask what the interviewer meant by…

The three piggy banks

The three piggy banks

  My son just had his fifth birthday and consequently came into some money. To a 5 year old, $30 feels like a fortune. As we were riding in the car one day, Seph began to contemplate what he should do with all that cash.     At 5, he already knows to tithe. But he questioned what he should do with the other $27.   He asked me what…