Do You Seriously Believe That Real Estate Will Always Climb? Think again!

No doubt real estate is a great investment, but long-gone are the days where prices soared overnight....a time when even a blind monkey could make a quick dollar on a good flip.  But what happens when prices don't soar like you thought they would?  Worse yet, what happens when they drop?

What goes up, must come down...including real estate, and it's for this very reason that it's a good idea to build your own equity as fast as you can instead of waiting for the market to build it for you.  The idea of bringing money to the table to sell a house may not be familiar to YOU, but it's a common occurrence for people in need of selling when the market hasn't produced the gain sufficient to cover the cost of selling and/or closing.  

People investing in the stock market understand that what goes up must (eventually) come down, while people investing in real estate never expect to get caught short.  The stock market "resets" itself and the real estate...

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Robbing Peter to Pay Paul - Yep, That Sums it up!

To rob Peter to pay Paul means to take money from one source to give it to another. Usually, robbing Peter to pay Paul means taking the money to pay off one debt to pay off another debt.   Basically, It is a situation where there is not enough money to go around and one must choose which debt is more urgently in need of payment.  Yep, that pretty much sums up the way most Americans are managing their finances these days!

I'm not sure how it happened, but somehow people see debt as a good replacement for cash; in this case, the abnormal has become the norm.   They'll open a new credit card account with a better interest rate to pay off another, and before you know it both cards are maxed out because they couldn't resist using plastic when they wanted to spend what they didn't have - they Rob Peter to pay Paul. 

Most people refrain from adding anything to a savings account for "a rainy day" as long as they have a little room on a...

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Going Broke...as Easy as 1...2...3

Fortunately, most people in America are not penniless - but a whole lot of them are already broke and they just don't realize it, OR they just don't recognize the signs of looming disaster that will get them there faster than you can say "amen."

The average American has less than $1,000 in savings with no emergency plan in place.  Instead of building up a savings account (or reducing debt), most people have a false sense of security as long as there is a little room left on a credit card to tap into when/if they need to.  Does borrowing more money to pay against borrowed money make sense to you?  That old saying "Robbing Peter to pay Paul" comes to mind. 

Mishaps happen to everyone...death...disease...divorce...and when they do, the only thing that can possibly make the situation worse is having to deal with bills you can't pay or increasing debt while you charge-away your living expenses. 

There is a way to prepare for an imminent disaster, but first,...

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Are The Airbnb Walls Tumbling Down?

According to Reuters, Airbnb CEO Brian Chesky predicted that the company's business will bounce back after the pandemic, but that's more than we can say for many of the Airbnb property owners; everyday folks who chased the Airbnb dream by leveraging life savings and primary residences to get there.  Many of them won't have the stay-power to hold out for brighter days, and many of them will be faced with foreclosure because of it.  For them, the Airbnb walls ARE tumbling down.

The Airbnb-bug caught on in 2008 and the company was targeted to go public in 2020.  It's a brilliant concept, your home away from home while traveling; the first choice for many travelers not keen on cookie-cutter hotel rooms.  As the demand for properties grew, more and more people jumped into the Airbnb business.  Unfortunately now many of them will be forced to bail out.

 

The Wall Street Journal:  "For example, Cheryl Dopp earned more than $8,000 per month...

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What Keeps You In The Rat Race?

 

Forbes cited a recent poll reporting that people are unhappier today than they've been in 50 years.  That should come as no surprise with a global pandemic and an economy teetering on disaster.  With millions of people working from home for the first time, I wonder how eager they are to get back into the rat race?

I'm sure there's some element of self-gratification...a sense of pride...when it comes to our willingness to run the rat race despite the challenges that come with it, but I believe what's really behind the chase is the hunger for the paycheck more than anything else.  A few hours commuting - a 10 or 12-hour workday - 5 or 6 days a week - and before you know it you have the money to meet your obligations.  The bills are paid, but the quality of life is lost in the process, that's for sure!

Since most Americans have less than $1,000 in savings it's not likely the rat race will end for them anytime soon...UNLESS they find a better way

It's...

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6000+ Churches Close Each Year...When The Bank Comes Calling

A quick search for church buildings on the market for sale is eye-opening, to say the least, and they come in all kinds of shapes and sizes.  Some churches were start-ups that never grew up.  Some churches suffer from a declining congregation and they can't support the expense without the numbers.  Some denominations make the financial decision to liquidate assets when they can no longer justify the church with few members.  Countless churches build bigger and bigger facilities to support their growth, and they're leaving their debt-free buildings left behind to be sold.  Like an abandoned first love, the "old church building" is left vacant and of no use and when it could be donated to bless another body of believers, the proceeds from the sale are needed to offset the money borrowed to build the new one.  Yes, even the churches are subject to the money game these days.

It's reported that 6,000 churches close their doors each year; is it a lack of...

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Top Three Lies About Money...Have YOU Bought Into Them?

When it comes to money, there is a lot of bad advice floating around out there. It's no wonder we have $14 trillion in consumer debt today!

Let’s set the record straight debunking the top 3 lies you've been told so that you can begin to build wealth instead of digging a deeper hole of debt year after year.

1. It’s a good thing to have debt

Image result for what was a debtors prisonLies, lies, lies.  Borrowing money used to be a last resort but today debt is so common that we’ve gotten used to it...and we can't seem to get enough.  Did you know there once was such a thing as a debtors' prison?  Borrowing money used to be taken much more seriously than it is today and paying it back even more so.  Whether you're locked away in a prison cell for an unpaid debt or not, you may be living in your own kind of prison if you have debt that you may not be able to pay hanging over your head day after day.  One little mishap in life and you're likely headed to the bankruptcy court. Sad but...

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Work From Home...Creating Home-Based Business Monsters!

Due to the Coronavirus scare (and the government guidelines set in motion to reduce the risk of broad exposure), thousands of employees have been given the "green light" to work from home; an option that otherwise has never been considered by most employers.   The question is...how many of these employees will want to return to the office after seeing how easy it is to work from home? 

How many will become disgruntled when they have to go back to the office?

How many will fret over the commute they had the chance to avoid? 

We're creating Home-Based Business Monsters...and it's about time.

Lots of businesses are struggling through this pandemic, but that's not true for services/equipment that employees need to work efficiently from home.  Computer sales are up.  Wireless headset sales are up.  Audio/video devices sales are up for computers lacking the quality necessary to perform online meetings.  A "plug n play" environment calls...

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Multiple Streams of Income...It's Biblical!

Multiple Streams of Income….the concept is biblical!  In Ecclesiastes 11 we read "Ship your grain across the sea; after many days you may receive a returnInvest in seven ventures, yes, in eight; you do not know what disaster may come upon the land.  In other words, don't put your eggs in one basket - put them in multiple baskets because you just never know where the market will be tomorrow!

It makes no financial sense to rely on one source of income...not one job OR one business, even if it's a GOOD one!  For instance, savvy investors don't put every penny they have into one stock...they spread their investments around to reduce their risk/exposure while increasing their odds of winning. 

Life happens to all of us.  Expenses go up.  Circumstances change.  Markets shift.  When you develop multiple streams of income it's easy to roll with the flow - "because you do not know what disaster may come upon the land" - be...

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Money Drives Decisions

"IF only I could afford it" doesn't have a place in the vocabulary of an entrepreneur.  Entrepreneurs understand that you really do need to spend money to make money and they'll "find" the money for all those things they need to grow a business.  Entrepreneurs are in control of their own income, so when they see the value of whatever it is - from attending a convention to purchasing a tool - they set out to earn it instead of saying "if only I could afford it".  

As we busy ourselves to introduce the world to whatever product or service we represent, it gets old hearing "if only I could afford it."  Sometimes that's a legitimate excuse, but most of the time it comes down to just two things.  Either they haven't seen the value of your product or service yet OR they don't have any room on a credit card or savings in the bank to make it happen.  Long gone are the "mattress money" days where people always had a small stash of cash set...

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