Flreia's Blog

“The journey of a thousand miles starts with one step.”

I’m sure you’ve probably heard this saying. My question to you is – How are you doing on your journey? Are you still taking the steps you need to, to reach your goal? The other morning I was out for one of the longest runs I’ve ever done in my training for IronMan. It was a 15 mile run and I was a bit nervous as I went out at 4:30 that morning.

As I was out there I felt pretty good throughout the run especially when I got past mile 8 and my legs still felt strong. I began to see doing a full IronMan triathlon was now becoming more and more real. My quest to complete a full-distance IronMan triathlon began four years ago. To date I have completed several Sprint and Olympic Distance races and a half-IronMan distance triathlon. The training and competing have not come easy. Through the past few years I’ve had setbacks that have delayed my goal, but one thing I have never done is quit taking another step in my journey. There have been times where some steps were more difficult than others and I briefly contemplated throwing in the towel on my quest.

On my way to complete this 15 mile run, I realized that had I quit, I would never had reached this milestone. I was now another step closer to realizing my goal. I know I have more steps to take in this journey, some wont be easy, but I know because of all the steps I have taken thus far that I am more prepared to take them and complete them.

In 2011 I will be ready to compete in my first full IronMan distance triathlon. Just like this goal I have several other personal, spiritual and financial goals that involve the same discipline of taking one step after another. Although I look forward to accomplishing them, I’ve come to recognize that the most important part is the journey. I’ve discovered the power of discipline and the importance it plays in accomplishing any journey.

What journey are you on and are you still taking the next step to reach it?

Where Are You Headed?

Most couples spend more time planning for their wedding
day than for their marriage. Marriages, like our businesses
are long-term commitments that should have a clear vision.
What do I mean by “Vision”? Vision is the ability to see
forth into the future as if it were today. In the case of
entrepreneurs, it is creating a picture of what
your business should look like when it is running perfectly.
Once you have that vision in mind, write it down and
share it with those on your team.

Knowing where you are headed is so vital to
your business success. When you fail to identify
your vision, you can almost guarantee your
imminent failure or at the very least, prolonged
timeframe for getting there. Take your family
summer vacation plans as an example. After an
initial family meeting, the parents define what
destinations the family would like to visit and
then outlay the most efficient route in order to
maximize their time. When this final vision is
shared with the family, everyone can be given
their assignments as to hotel reservations, what
to pack, which family and friends along the
route to contact, to plan times to stop, and visit
as well as the purchase of venue tickets. A
successful trip will be accomplished when the
whole family is aware of the vision and has
bought into it. With everybody onboard, you
will ensure the greatest enjoyment for all involved.
In the book of Habakkuk, Habakkuk is seeking
an answer regarding His justice, when will
things get better? God provides him an answer
by telling him to “…Record the vision and
inscribe it on tablets, that the one who reads it
may run. For the vision is yet for the appointed
time; it hastens toward the goal and it will not
fail. Though it tarries, wait for it; for it will
certainly come and will not delay.” Habakkuk
2:2-3

God is telling us to write down our vision and
make it clear enough for those who read it to
understand it and can run with it. He goes on to
say that we must be patient with the fulfillment
of this vision, for it will come to pass at the
right time. This last part is probably the toughest
for any entrepreneur. We have birthed this
vision and immediately want to see it come to
pass so we may enjoy the fruits of our labor.
A well drafted vision will empower the business
leader to communicate what he foresees to
his team. A clear vision communicates to everyone
where the business is headed. When
those that surround the business leader understand
the vision and are sold out for it, they will
do everything they can to help achieve that
dream. With that kind of help, how can you go
wrong?

Invest the time to get a clear vision and then
draft it so everyone you are working with gains
a clear understanding of where the business is
headed. The vision can also be used as a hiring
tool; it can help you identify those who are
attracted by it or those simply looking for a
paycheck.

In addition to helping those around you, the
vision is also a reminder to yourself of where
you are headed and that all your hard work will
soon pay off. Without this reminder, you are
more susceptible to being blown completely off
course and failing to reach your dream.

Where are you headed?  Does it lead towards YOUR Vision?

Push through the tough times.

This morning I went out for an 8 mile run.  I had done it before but this morning was a bit different.  I felt a little tired since we had a late night and 4 a.m. came rather quickly.  By the time I was going into mile 2 I was ready to stop and turn back.  My pace had slowed down while at the same time my mind was fighting the urge to stop. I even tried to convince myself that even if I just ran 4-5 miles it would be okay.

I felt pretty hungry and I did not think that the 2 little Gu Bloks I had brought with me would get me through, but I decided to try it and eat one.  Getting to mile 3 I was still considering turning back; again considering a 6 mile run was good enough.  Deep down I knew I could not quit, I had gone through this before and I knew I just had to push through it.

My 4 mile turn around was coming up and I convinced myself to get to it that way I would be forced to complete the 8 mile run even if I had to walk.  At about mile 4.5 my pace began to pick up and I was feeling better.  I ate my last Gu Blok and it got me through to the finish.

In life as in this simple 8 mile run, we can justify quitting. I had not had a lot of sleep, it was cold, I did not bring enough supplements and I would rather have stayed in my cozy bed; all valid reasons.  My reason for running these 8 miles was part of a bigger goal.  Had I quit, I would have set myself back in my training.  In order to compete and complete a full Ironman Triathlon I know I have to be able to hit a certain mark by a certain date.  If I allow myself to quit then the next time I’m faced with a small adversity or even a greater one, I’ll retreat and never hit my goal.

In life we are hit almost daily with challenges that can get us off track and quit.  It’s a big mind game that you must win if you want to achieve your goals.  When things are tough I have to dig deep into myself and overcome the challenge.  The best way for me is to recognize that whatever I may be struggling with is part of the training and quitting will only set me back.  When I overcome the challenge I will usually learn something of great value and grow, ready for the next challenge.  They’re going to come so I might as well get through it.

What are you going through that is challenging you or what have you gone through that has challenged you?

Why do you love to Wholesale Real Estate?

I love wholesaling because I can help all kinds of people (sellers, buyers, community), it’s fun because I love the thrill of the chase and folks who get what they want out of the transaction, and of course earning a great income doing what I’m passionate about. This business is what allowed me to work for myself at an early age and even though I made tons of mistakes early on although I’m still not exempt today, I persevered and I’m still here doing what I enjoy.

EPA Lead-Based Paint Initiative

It’s been a month since the EPA’s new lead-based paint initiative, how has it affected your business and what’s your opinion of this new initiative?

As for our business model, this new initiative has definitely added a new crease to our buying profile.  Any property that we may purchase that’s pre-1978 we’ll definitely have to take into consideration that our rehab costs could go up anywhere from 20-35% or more, making our buy price much lower.  In the immediate future that could cause us to loose on some buying opportunities as there are many out there that do not even know this initiative even exists and will not take into consideration the potential of additional costs.

My opinion of this initiative is a bit undefined.  The underlying merits of it appear to be well intended, but the implementation seems a bit over-the-edge, especially with fines in the $32,000 range per incident per day.  Let us know what you think, we would love to get your take.

Catch our recently recorded webinar discussing the EPA lead-based paint initiative at www.REIPMagazine.com/Pete.

South Florida State of the Onion

I’ve always wanted to see it in print – State of the Onion vs. State of the Union.

If you caught the FLREIA’s FAN report this week then you probably heard how our local unemployment rate is doing. It’s a couple of points above the national average at 12.1%.  Shocking, not really.  South Florida is largely a service-based economy so when others don’t come to visit it hurts our local economy.

It’s not as bad as it probably was in the past.  I’ve lived in Florida most of my life and I’ve seen it go through the ups and downs.  There really hasn’t been too many downs, at least not like this one.  But again the skyrocketing real estate prices didn’t help.  A few years ago I saw this coming, especially when I was hearing of reports of an exodus of nurses from our community because they could not afford to live here.  They get paid pretty good and if they couldn’t afford it, how about our service workers who probably make half as much they do?

So what can we expect?  in 2008, I had predicted that we would not begin to see an improvement in our market until mid 2011.  Do I still believe that?  Have we hit bottom?  I believe we’re skipping across the bottom, but I don’t foresee the real estate market in our area gaining any momentum yet.  There’s quite a few variables.  Like I stated earlier we are primarily a service industry, tourism at the top.  If the rest of the country and the world is hurting then we can expect to feel some pain.

Lenders have made lending more difficult. (more…)

FLREIA Intro

This is our first Blog. Not actually, we’ve had other blogs in our own site, but we thought we’d move out and go public

Juan & Sharon Restrepo

with our FLREIA Blog.

What is the FLREIA you ask? The FLREIA stands for Florida Real Estate Investors Association. We are an education, networking and investment group. Our main purpose is to serve our members by giving them a venue where they can come together for networking opportunities, discover the many different ways to create wealth through real estate and are also provided opportunities to put their money to work via investment opportunities.

Our goal with the FLREIA Blog is to enhance our members and guests’ experiences with this additional resource. The blog will be available for discussions, comments and exchange of ideas. We look forward to adding more posts on a regular basis, so be sure to check back, follow us or whatever it is that you do to keep up with us.