DEBORAH STONE

When I read articles online about retirement, I am sure they are not meant for me. The gold watch, the diamond pin, and the end of careers for those who have turned 65. Now I am willing to accept the fact that I am in complete denial about my age.....somewhere north of 50.......BUT I am also astounded at how "young" many of the people I know who are over 50. To think of them playing canasta by the pool with other "seniors", staying home all day and watching t.v. or just buying into the myth that your working days are done at 60+ is comical. These are people with vibrant careers, good health and skills that they have accumulated over the years.

I sense a paradigm shift in the way our system has evolved over the past century. A Long Bright Future by Laura Carstensen, Ph.D is a great book which has a refreshing view on aging and the way our culture is currently not organized to maximize the 30+ years many of us will have after the age of 65. Due of course to the advances in modern medicine, living to 100 years old may not be so preposterous after all. I am not sure if that is my goal in life BUT I sure would like to have ALL my later years be healthy and productive ones.

Which brings me to the topic: My career in Real Estate. How fortunate am I that when I approach 65 and beyond that I can work as many or as few hours per week, with my age being 100% irrelevant to my job? No glass ceiling? Work that can be intertwined with my personal life--Dr.'s appointments, lunch with friends, working out at the gym, week-ends away with my significant other? No need to "clock in" or "call in sick". Where my age and experience are benefits, not drawbacks?

Every day you make your schedule to accomodate your clients and yourself. You have some weeks where that is not possible, but as you wind down your schedule, your autonomy in this business is truly astounding.

Sure, we have had to put up with economic cycles, bank meltdowns, failed escrows, cranky clients, uncertainty and years of no/low business. But in the long run, I think I have a "retirement proof" (and one of the best) careers on the planet!

1. Be friendly but never friends with your tenant.

2. If you are in this business for respect, get out asap. Tenants don't pay rent out of respect, they pay to avoid the pain of late fees or eviction.

3. No pain, no gain! Just like kids tenants won't do what you want until there is some kind of pain to avoid or eliminate.

4. Tenants lie and landlords tend to be gullible. We WANT to believe in people.

5. If they didn't pay because they don't have the money, you can't get blood from a turnip. No amount of letters, talk or threats will make a bit of difference. If they can't pay, they need to go.

6. Stick with the system. Rent, late fees, eviction. Both your life and the tenant's life will have less stress. Don't reinvent the wheel for every resident excuse. We ADAPT the
   system to unusual circumstances, but the system stays in place.

7. Stay in control. The landlord is in charge, NOT the tenant. Losing this control will cost you big time in aggravation and legal fees.

8. Don't micromanage your property----or don't make it obvious .Seeing your landlord on a daily basis will only cause resentment and anger. NEVER rent to people you don't trust.

   

   
   

Investing in San Diego Income Property

For all intents and purposes, investment property appreciates in value. If someone asked me the single best reason to own investment property in San Diego I would say APPRECIATION. What is appreciation? Appreciation is the increase of value of property over time due to inflation, supply and demand, capital improvements and other factors. Increase of value adds to your net worth.

The beauty of appreciation is that if you buy low and sell high, you can make money while you sleep.

What does this mean? It means that if you buy a property for below market value (poor condition, short sale, desperate owner) and you sell it at a future point in time for above market value (nicely upgraded, strong Seller's market, above average location) than you have just hit the jackpot!

The timing of a property purchase is everything, kind of like the stock market. Holiday time is easier to find a bargain than Spring time. If you find a property on the market in mid-December, you can be assured you have a very motivated owner. (and motivated owners tend to negotiate more).

If you buy low and sell high, you have nothing to gain but money.

Yes, but you may be thinking that you will then have to pay taxes on all that money. Well, yes, you will but you could always do a 1031Tax-Deferred Exchange and roll over the gain tax free......as long as you follow some I.R.S. guidelines.

I was at my bank the other day--------San Diego County Credit Union------- and they have a new "App" where you can deposit your checks via your iPhone. Now I know this technology has been around for a year or so, but I didn't really think it made sense---I was thinking it would be next to impossible to stuff a paper check into my iPhone!! But then I learned that you just take a picture of the check and it is then treated as a paperless transaction. :)

My office is in my home and my Brokerage is about 10 miles away, in downtown San Diego. My clients could be anywhere all over SD County and my meeting places are often Starbucks located just about everywhere. My mail goes to a PO Box yet most of my communications are by e-mail or text. My bank has a few branches scattered throughout metro SD, but now with a paperless iPhone deposit, I seldom have to go there. I could live on the moon and no one would know, as long there was WiFi!!

When a Buyer is looking for a home, "location, location, location" are the first 3 things on their mind. Of course...who doesn't want to be close to services and with the price of gas, convenience is everything. Let's stop here and think about technology.

My trips to the office are seldom, and my trips to the bank now, are never. Clients (especially investors) do alot of footwork, and you don't have to drive them from place to place. You can have a conference via Skype or "Facetime" on iPhone. I write up a list of items and order them from Drugstore.com, eliminating the need to drive all over the place.This opens up alot of possible locations for me to live---many more than it did even 5 years ago. Does it matter that my bank/pharmacy/supermarket are even "bricks and mortar"? Heck, my office doesn't even have to be "bricks and mortar". So how does this affect not only me but our industry?

Locations that are further away from city services may start to take on a whole other dimension. If I don't have to worry about my commute or getting to the bank or drugstore, I just may opt to live further from metro city center and purchase a larger, less expensive house......or tap the better priced suburban condo market which is still floundering 15-20 miles outside of metro San Diego. 15 years ago, condos in East County were not considered as desirable as metro condos, but if you look at the vast price differential, they may be the next best buy. If I can save $500-$750/month by living in a "less convenient" area (and "convenience" is now a moot point), I can save that money and purchase another property, or investing it-----all the while, adding to my net worth.

Technology has not only changed our business model BUT the needs of our Buyers have changed as well. Don't lose Buyers because they can't afford the "chic urban areas"------------which may just see a decline in pricing due to our everchanging technology. Largely forgotten inventory in suburban/rural/fringe areas may just be on the upswing!

I just finished reading The Power of Charm by Brian Tracy.

This was an easy read, and although it did not hold any earth shattering revelations, I thought the chapter on eye contact was worth mentioning.

Did you know that eye contact projects to your speaker (client, partner, boss) that you are involved? it is a basic way that people will know if you are listening. Flicking is an act of shifting your gaze from one of the person's eyes to the other. It is a process of engaging with your speaker. I know a business colleague who never, ever gives me eye contact and is always looking around the room. This is dismissive and I don't trust her. Now think of what your clients may feel.

Intense eye contact with no gaze shifting may signal sexual interest or threatening behaviour, so as to avoid this, shift your gaze to the sides of the speakers face for just a brief moment. Never gaze at their mouth or nose (they will think they have some food on their face or worse) or above or beside their heads (they will think you are showing disinterest).

Head tilts make you look very attentive and involved. it is a simple move, tilting your head slightly from side to side. (think of how endearing it is when your pet dog or cat does this).

Try using direct eye contact, flicking and the tilt and this will communicate: "I am totally focused on what you are saying".