Happy Valentine’s Day

Today is special day for many people, some more than others. For me, it is also my wedding anniversary. 13 years ago, today my wife MJ and I were married at the Aladdin Hotel in Las Vegas at the same chapel that Elvis and Pricilla were married in. It was the last time anyone got married on Valentine’s Day in that chapel as the Aladdin was remodeled and became Planet Hollywood. Oddly enough, none of our children could make the wedding, some didn’t care, and some chose not to, others were caught up in a blizzard that buried the northeast. Of the people who did attend, neither MJ nor I speak to any of them any longer.

These were important people in our lives at the time. People we held very close and were important parts of our daily lives. As fate would have it, we became less important in their lives and so we became disposable. It is a fact of life, relationships change. Very rarely does the intensity of even the best relationships stand the test of time. Our lives revolve around that change. Seeking and exploring, collecting and rejecting, learning and growing, and taking with us all that we have learned from that interaction.

This holds true for our professional relationships as well. Some people will be with us our entire careers while other will come into and out of our lives. Sometimes those relationships are very intense, while others are far more casual. While some of our professional relationships will also generate a personal connection, not all will. While some personal relationships will lead to professional interaction, many won’t. The point is, you need to understand that things will most likely change, and it’s okay when it does.

Evolution is by very definition ongoing. While you may still have friendships and relationships from when you were a child, most of those people from the past are not as critical now as they were then. Some of those people you can’t remember and they don’t remember you! Others, you can still recall for any number of reasons as they you.

The point of this from a professional standpoint is that some of your best relationships today will be gone tomorrow. Some from the past will resurface and come back stronger, and others never will. The key is to understand the evolution. To always being open to finding those who share common values and you enjoy working with. Working with people you don’t like is not a great way to go through life. Also understand that nobody “owes” you a relationship and you have to nurture each relationship to keep showing value or that relationship will go away.

Life is full of personal and professional experiences. Valentine’s Day is a great opportunity to reflect on those people in your life and share that you care. Also think back at how those from five, ten, twenty or more years ago that may or may not be in that group, and all of those who are now, were not back then!

Happy Valentine’s Day!

Questions or comments: Mike@IMTcoaching.com

The Trend IS Your Friend

Time to really pay attention to a possible trend that could make for a big opportunity for you in the months to come; and that opportunity is REFINANCES!

Yes, I said refinances! If you follow the rate market, you will notice that interest rates are approaching significant levels compared to last year. In fact, if you look back at loans you closed between last March & December (2018), you will see that there might be some refinance opportunities to take advantage of? Clearly you have to be careful of EPOs and your company’s policy regarding any time restrictions you may have with your investors, but those opportunities might be out there for you to take advantage of. I’m not saying that it is time to abandon the purchase business, not by a long shot! The purchase arena is doing quite well for many of us right now and I expect a very solid first half of 2019, but part of your job is to manage these obligations over time and now might just be the time to take a good look!

The other trend we are seeing across the country is the power of explaining the rent vs. own analysis! In most markets across the country renting is not a great value! In fact, the effect cost rate on rent is 100%! No benefit financially, all the money is spent and is GONE! Owning has a number of advantages, the least of which is equity! Some of each payment is paying down principle and building wealth! The ongoing property appreciation is also a huge benefit and depending on your local rates of appreciation, it could be more significant than you ever thought!

February is a time for accumulation and execution of the strategies that push the beginning of the market. Use the tools! Take advantage of the strategies we are sharing. Get out in front of the market as a true mortgage professional and share many of the opportunity generating ideas with your referral partners! The possibility of some bonus refinance activity is great, but the strength of the purchase market building will depend on how you have positioned yourself!

Questions or comments: Mike@IMTcoaching.com