Time is the currency of your life. How will you invest it?

STOP WASTING TIME!

As promised, I’m going to take a moment to place my twist on Stephen R. Covey – Stop Wasting Time! It’s worth a read again.

Imagine a large building that looks like a bank but is not. A brass marker on the front door reads: “Time for Sale.” All day long, people rush in and out of the building to purchase time. A man says, “Now I will buy the five years I need to prepare for a big promotion.” A woman says, “I wasted the last three years I had with my daughter; I will buy them back and make them more productive.” Each person leaves the building with what they desperately wanted: time to do the many things they had failed to do, or that they wanted to do. You stop one man, a business executive, and ask him, “What will you now do differently with your time than you have done before? How will you be more effective?” The man only returns a blank stare. He has no idea what he will do differently or how he will be more effective.


Time is the currency of your life. How will you invest it?

Take a moment to ask yourself, “What will you now do differently with your time than you have done before?” Investing today is FAR different from what it was just 2 years ago. Using the same strategies and investing with the same mindset is a sure formula for financial destruction. You have to think and invest differently in today’s economic storm to insure you preserve your assets, continue to grow your net worth and residual income.

Currently I haven’t seen a better opportunity than in the distressed real estate arena. Be it foreclosures, short sales, Trustee’s auction, REO or bulk REO. Right now, today, this moment, there are more deals than you and I can ever financial take advantage of. Distressed real estate which can be purchased and immediately resold for large and immediate profits.

Recently I was at the Trustee’s auction in Las Vegas and there were 923 foreclosed homes on the auctioneer’s chopping block… that day! 923 in ONE DAY. Routinely I see 300+ in San Diego, daily. While many are not worth purchasing, there are many worth purchasing. Simple single family homes with a true net profit of $40,000-$120,000 profit. Profits that can be realized in 120 days or less. So… “What will you now do differently with your time than you have done before?”
If you are not actively including distressed real estate into your investment portfolio… shame on you. If you have read this far, congratulations. Congratulations because by deciding to engage in distressed assets you will help insure your financial goals, aspirations and dreams. “How will you be more effective?”

As with most investments, there are two paths you can go down: One, you do it yourself; two, you associate with those in the know. While the concept of purchasing distressed assets such as homes at the court house steps sounds simple, the reality is it takes skill, resources, research and a gut feel which comes from years of real world experience. Either way, you have to decide to walk the journey of one of the two paths. Both paths lead to the same destination the questions is, “which is right for you?” Time is not your friend and the sooner you start the sooner you are going to realize your profits.

In my experience, right now, Trustee’s Auction is the fastest, surest way to quick profits. Here is a real example of a cheap little home we purchased at the Trustee’s Auction in Las Vegas and immediately sold: The home originally sold back in 2005 for $252,000 We purchased it in May for $71,100 (at the auction) Rehab expenses of $4,171 Sold for last week for $120,000 Net profit after expenses $22,329 While $22,329 isn’t going to retire you, it’s nothing to sneeze at. $20k return on a little more than a $70k investment is a hell of a rate of return in approximately 3 months! Best of all, it’s sale-able. If $20k per month isn’t suitable, then pick up 2 per month, 5 per month… or more. Unfortunately, there is no brass marker on the front door reading: “Time for Sale.”

The opportunity is NOW. The time is NOW. Your have to decide whether you are going to be like the mother in Mr. Covey’s story, “I wasted the last three years I had with my daughter; I will buy them back and make them more productive.” Life is not a practice session. You cannot buy back time. And you cannot achieve wealth just thinking about it. Time is the currency of your life.  Start NOW!

Invest wisely today,

Chief Denney

Stop Wasting Time!

Taking a month off and living in Paris has given me plenty of time to do those things that I may have been putting off for a rainy day.  And I don’t see many rainy days living in San Diego.

Today I was getting caught up on some of the reading material I’ve been meaning to get to for the past 6 months.  I came across this wonderfully insightful and powerful bit from Stephen R. Covey – “Stop Wasting Time!”

Imagine a large building that looks like a bank but is not.  A brass marker on the front door reads:  “Time for Sale.”  All day long, people rush in and out of the building to purchase time.  A man says, “Now I will buy the five years I need to prepare for a big promotion.”  A woman says, “I wasted the last three years I had with my daughter; I will buy them back and make them more productive.”  Each person leaves the building with what they desperately wanted:  time to do the many things they had failed to do, or that they wanted to do.

You stop one man, a business executive, and ask him, “What will you now do differently with your time than you have done before?  How will you be more effective?”  The man only returns a blank stare.  He has no idea what he will do differently or how he will be more effective.


Time is the currency of your life.
How will you invest it?

In financial terms I cannot think of a more appropriate, serendipitous, parable.  I’m constantly asked by investors my opinion on “what should they do?”.  “Should I invest now or later?”  “Should I take advantage of all the distressed opportunities I’m hearing about?” Or my favorite, “I’m going to wait for the bottom of the market!”

Let me ask you, “What will you now do differently with your time than you have done before?  How will you be more effective?”  What I can tell you is this…

Do Something!

The last time we as investors had this kind of opportunity was in 1989-1995.  If you didn’t take advantage of the down cycle then, it’s going to be a long time before you’re going to see it again!

NOW, is the time to invest.  NOW is the time to make a decision.  NOW is the time to build, rebuild or build upon your financial future.  NOW is the time to insure you have a retirement which greets you with a life of abundance and not scarcity.  Life does not afford you many “practice” sessions so you need to get it right.  Timing and taking decisive forward action are critical.

Tune in tomorrow as I take this wonderful piece of wisdom from Mr. Covey and place a financial twist on it.

Wishing you the best,

Chief Denney