It has been said, in a lot of clever ways, that people who do not care where they are going, don’t need a map. But CEO’s need a business plan, coaches need a game plan, pilots need a flight plan, and leaders need a life plan. Here are 5 things to include in yours …
Single Page Life Plan™ 2013 Ballylongford Books, LLC
The Five Elements of a Single Page Life Plan™:
1. Mission or Vision Statement:
This is the overarching vision you have for your life. All other parts of your plan synchronize with this.
2. Life Categories:
Your Life Categories are the six major highways that lead a path towards your Vision Statement. These Life Categories are the most vital aspects of your life.
Walking and Talking … Cap Rates!
Cap Rates. You hear about them all the time, from people who specialize in investment real estate. They’ll says things like, “That property sold for a 6 cap,” or, “We’re looking for properties priced in the 9 to 10 cap range.” Today’s Walking and Talking podcast is all about Cap Rates!
Photo Courtesy of @istockphoto.com
Today, you will learn 5 things:
- What is a cap rate?
- The reason why so many people are often confused about cap rates.
- The best way to remember how to easily calculate a cap rate for any investment property.
- The five main factors that influence cap rates.
- Why you should beware that all cap rates are not created equal!
Listen to the Audio:
Imagine that you are Ronald Reagan when he was 65 years old. You have just spent the last 20 years of your life dedicated to implementing a policy of political leadership that you believe will help your country and the world. All of your efforts to touch hearts and garner support for your vision comes down to a single vote at the national convention in 1976. The vote is 1,187 to 1,070 … and you lose.
Ronald Reagan at Camp David with Nancy Reagan, Photo courtesy of Ronald Reagan Library
Smile WhenThey say You’re Too Old to Lead
Excerpt from Lead Like Reagan – Principles of Dynamic Leadership:
“One of my favorite quotes from Thomas Jefferson is when he said, ‘We should never judge a president by his age, but by his acts.’ And ever since he told me that…”
– Ronald Reagan, Annual Salute to Congress Dinner, February 1981.
Losing the Primary at Age 65
This is what happened to Ronald Reagan. He had just lost the convention vote to be the nominee for president of the United States to incumbent president Gerald Ford. He was 65 years old and had the financial security to retire in style. He had a large family, lots of friends, good health and many interests. He loved to spend time on his beautiful ranch in California, riding horses and working chores. I often wonder if Ronald Reagan was tempted to ride off into the sunset and spend the rest of his days in well-earned retirement.
My book, Single Page Life Plan explains how you can extend single page planning to all of your important projects and ventures. Single Page Checklists are a ‘catch-all’ for special projects that you can review regularly to stay focused.
Copyright 2013 Ballylongford Books, LLC
For example, the Single Page Checklist for Buying Apartments summarizes on a single page the 4-color, 6 page laminated flyer I created that explains:
When I speak to young adults in 8th grade or in high school, I make them this promise:
Nobody ever looks back on their high school or college years and says …
“I wish I had smoked more cigarettes. I could be up to a pack-a-day smoker by now!”
“I wish I had spent more nights, staying out drinking ’til 2:00 am in the morning.”
“I wish I had purchased more drugs while in school.”
They don’t. And you won’t either.
I was in my office one day, when a real estate investor called me on the phone. He said, “Garry, I just had one of my tenants move out – and they took the refrigerator with them! They said it was theirs.” Uh oh.
They took the refrigerator!
I immediately called the seller, who explained that those particular tenants had previously sold their home, and so they had brought their own refrigerator with them. He had simply forgotten, and there was no mention of it in the lease.
Download 32 Questions PDF
Einstein often commented that unlocking the greatest mysteries of the universe would be useless unless you could make them be understandable to a young student.
Photo courtesy of iStockphoto.com
Don’t mistake simple for easy
It takes a lot of effort and creativity to reduce things to their most simple form.
The genius of Albert Einstein was not that he could comprehend so many of the complexities of space, time, gravity, and light. All scientists can do that. His genius was in his ability to simplify those complexities into an understandable theory of relativity.
Ronald Reagan was the first president in modern times to salute the troops. Even General Eisenhower did not do this when he became commander-in-chief. It simply was not the custom. But, the impact it made was enormous …
Photo Courtesy of Ronald Reagan Library
“We will always remember. We will always be proud. We will always be prepared, so we may always be free.
-Ronald Reagan, Speech at Omaha Beach at 40th Anniversary of D-Day, June 6, 1984
Excerpt from Lead Like Reagan, Principles of Dynamic Leadership
He inherited a military that had been taken for granted; had been neglected. Little respect had been given to the men and women in uniform, and morale among the troops was very low. America was still suffering from the divisive results of the Vietnam War that had ended eight years earlier. By some estimates, half of the military planes and ships were in unworkable condition, due to a lack of spare parts. And then, Reagan began saluting the troops.
What they all have in common. This was what I wanted to know. In my first book, Walking and Talking – 57 Stories of Success and Humor in the Real Estate World of Business, I recounted stories from some of the top real estate professionals in the Midwest. After observing their careers and listening to their stories, I asked myself this: Other than their sheer success, what do all of these winners in real estate have in common? This is what I learned:
Photo courtesy of @iStockphoto.com
4 Characteristics of Top Real Estate Pros …
1. They create structure in an unstructured environment.
Real estate is not your typical 9 to 5 job, where opportunities are clearly identified and day-to-day responsibilities are well-defined. It is up to the real estate professional to identify the problems and opportunities; to set a plan of action that will bring success. They are not told how to allocate their time, or which deals to pursue or ignore.
The successful ones create a great framework for activity.
I will never forget the day I learned my first lesson in commercial real estate. It came shortly after I joined a team of 25 brokers at Coldwell Banker Commercial Real Estate. They ultimately became a who’s who of Columbus real estate that included Richard Schuen, Ed Joseph, John Hall, Don Matsanoff, Greg Schenk, Chuck Manofsky, Doug Goddard, Ted Hobson, Bob Matias, Benton Benalcazar, Tom McGarity and several others.
Copyright 2014 Ballylongford Books, LLC
The Day I Learned About Walking and Talking
One of those brokers was Wayne Harer. Wayne played 10 years of minor league baseball for the Red Sox and Yankee organizations and actually won the