Land is the one real estate investment that offers multiple options with minimal drama. Let me explain. Land is everywhere ,raw or developed, it’s yours. The common question is what can you do with land? Here are the popular options Land Lease, Development opportunities or Environmental options.
Land-Lease
Land-Lease is the purchase of land and renting portions or partials to people or businesses to live or start a business. A couple of good examples are McDonalds and a Trailer Park.
Yes McDonald’s is an example of a land-lease deal. The corporation purchases the space (Land) and rents it to the owner franchise to build and operate a McDonald’s. McDonald’s builds revenue from a portion of the sales in the location and the rent from the franchise owner.
Trailer Parks is another example of a Land- Lease. The you own the land but rent a parcel of the property that the structure sits on.
Development Opportunities:
Container Homes, Gated Communities, and Malls are all examples of development opportunities. Purchasing land to develop new communities. What makes this awesome is that you can always either build on your own or lease the land to a development company.
Environmental Land Opportunities
Farming,Energy, and Parks are just a few examples of environmental land opportunities that you can offer as a landowner.
Community Farm Centers, Private Parks, and Conservation services are just a few examples of what you can do with the purchase of Land.
Do not underestimate how something so simple like owning land can change your opportunities.
2020 was a mind-blowing year for Real Estate and Business. Real Estate suffered a pause in its normal routine and businesses suffered from shutdowns and stay-at-home orders. Then we have a huge shift in our outlook not just as entrepreneurs and consumers, but as humans. The world literally changed in 2020. But what is coming out of it, is remarkable. We are doing something we haven’t done in decades, we are listening, learning, and changing. Especially when it comes to how we approach money and accessibility.
In Real Estate in lieu of our normal routines (lead generation, open houses, traditional networking) we relied upon our understanding of virtual. When I mean virtual I don’t mean just Zoom Calls and the occasional FaceTime. Social Media became more prevalent in our business in a different capacity. Photography, videography, and floor plans are more important than ever before. The virtual and digital had power over the physical.
How many new agents or entrepreneurs are launching more Facebook and Instagram pages? How many people are looking at Zillow or Trulia just a little more closely? Let’s be honest my fellow entrepreneurs and consumers, virtual is here to stay. For this Agent, I couldn’t be happier. Let me explain before you go “Rita you’re not going to get much from a Zoom Call or that Virtual Tour?” While that might have been true 2019 it’s not the case in 2020 and beyond.
The role of the agent has changed: the agent is no longer just viewed as the salesperson, the agent has to be the advisor or consultant for that client. The questions will change so our approach needs to change. Now we have to make sure more now than ever, that we are knowledgeable and resourceful in our approach to our business.
The role of the consumer has changed: They do not have to leave their homes or jobs anymore. They can now look at properties or request a tour right from their fingertips. And as a seller that’s awesome, fewer people in their homes, less need for heavy availability, and safety for the seller, buyer, and agent.
The process has changed: the inspector and appraiser are going to be our eyes. They are going to give us the real deal situation of the property. We are going to look at that report more closely. Closing is going to be more important. Because everything is going to be at our fingertips, accountability is going to be the theme in buying, selling, or investing in real estate.
The Role of Businesses, in general, will change: you are going to see a mix between old school and new school when it comes to stores and necessities. The return of the showroom will be virtual but the actual products will be physical. Example Amazon Go, Whole Foods and , Bed Bath and Beyond offer services that you can order and pick up.
This in no way means that the actual physical viewing of the property or product is not important. It means that it’s more important. As agents and entrepreneurs, we have to be honest and genuine when presenting our services now going forward. When we do that virtual tour they are going to look at not just the current situation but the potential. When they talk to that lender, they are going to ask more questions about insurance and mortgage protection.
The point is virtual is an opportunity for everyone. It simplifies the process of providing services, it minimizes the hassle of being there all the time. The increase of safety and security for everyone involved. It also gives us the chance as entrepreneurs to really show our clients (consumers) what we are about. So don’t be afraid of virtual, embrace it.
“In anything in life, make sure your outside and inside match.” – unknown
When we think of brands and businesses we often look at the outside of a company. Instagram (social media), Google (internet),and Tesla (tech/mechanics) just to name a few. However for these companies to flow, grow, look amazing there needs to be a well oiled engine at the helm. That engine is called Human Resources. Human Resources (HR) not only keeps our businesses looking good on the outside but on the inside as well.
From Multi-Million Dollar Companies to Real Estate Teams, Human Resources will always have a core role in the operations, cultural unity, and growth of any business. Unfortunately, HR is the least acknowledged but one of the most important fields in business.
Beyond the usual (payroll and personnel) Human Resources also covers morale, training, operations, internal communications within the business. Human Resources manages the day to day soul of a business. While we are all not Tesla, Instagram, and Google, Small businesses also benefit from a strong support HR System in place.
When you are a restaurant owner, an owner of a boutique, or a small tailor shop you have multiple responsibilities from rent to ordering inventory for the business. An HR system can assist you in managing the heavy stuff, while you build your brand (business)
So what can a good HR company or team do for a small business?
Organization: Keeping paperwork in order is already a headache. Especially during tax season. An HR team can maintain payroll and sensitive information organized so it’s one less thing to worry about.
Training: State and Federal governments have certain requirements to keep a business going. HR works to keep a business and its employees in compliance, through training and updated information.
Morale: A good HR team, You (The Founder/Boss) can focus more on the culture of your company. Building morale, supporting your clients/customers, and focus more on why you started this business in the first place.
Human Resources helps keep the business looking great while actually feeling great. Feeling great to work at (employees), with (customers/clients), and support.
The outside and inside of your business need to be in balance. Human Resources (HR) help you achieve and maintains that professional balance.
For an example: Check out this link and see what a HR company can do for you
Anyone who is not familiar with LinkedIn, it’s a platform for professionals to network and build their business and grow in their careers. The best part of LinkedIn is the business or service partnerships that you can cultivate. If your new to entrepreneurship or restructuring your business this is definitely for you. And here’s why:
Awareness: LinkedIn will provide you with the opportunity to showcase your business and opportunities that are part of your career. If you are changing careers or restructuring your business, it’s a great way to attract new clients and business partnerships and opportunities through your experience in transitioning between careers.
Partnerships: Professional Partnerships provide new businesses with the leverage to grow with support from specialists in different fields. For experienced businesses, it is a great way to form new partnerships in different industries that can update your contacts and explore new ventures.
Services and Education: LinkedIn has grown from a Professional Social Media Platform to also include Educational and Network classes. As a new business, learning new skills and tips to grow your business is never a bad thing. For an established business, it is a great way to learn new things for your business as it prepares for new opportunities and a new direction.
LinkedIn is a great social media platform to grow, build, learn, and collaborate. Great for new and established.
So the common question I get is How do Real Estate Agents generate income or make money in general or during times of uncertainty?
So you would think that after a few years in Real Estate and in Business I would be bored or tired of this question. In fact, it’s the opposite, I grew to adore this question. Because it tells me you are interested in pursuing real estate in some capacity or you are curious as to what a real estate license does for you when things get real.
To answer this question, I am going to tell you how I view real estate and the license that is connected to that industry.
REAL ESTATE TO ME IS THE ULTIMATE MBA. Before anyone at me, I am not trying to disrespect actual people with MBAs. However, if we learned anything over the years, people with an established skill set have the flexibility and knowledge to build upon that can help in business. But you can be a cosmologist and have your real estate license. You can be an educator or opera singer and have your real estate license. Why? Because Real Estate has versatility and creativity that is often limited in other fields. Also, Real Estate never goes away. I bet right now you are reading this in a restaurant, home, apartment, or at work. Now back to the question.
Here’s what you can do from home or in the office. You can also do if your a digital nomad (Hey Millennials and Zers)
1: Listing Specialist: The FSBO (For Sale By Owner) Market is often considered a tough cookie. The owners want to keep as much control over the sale as possible. A listing specialist can offer their own services and resources so the FSBO can have another member of the team.
2: Media: YouTube, Instagram, Snapchat. Agents use social media or start their own media companies to market, teach, or sell products and services.
3: Your own background: This is one thing people tend to ignore is their own background and how they can incorporate it into real estate. I wasn’t kidding when I said you can be an opera singer and have a real estate license. You can host real estate and music once a month for your art lovers. If you’re a photographer you can incorporate it with your license by offering your photography services to bring people in to learn your a real estate agent. You can be a chef and have your real estate license and host dinner and home or have theme open house surrounded by food and culture.
4: Relocation Specialist: People gotta move right? A relocation specialist assists in not only finding a place but in the logistics of moving from one location to another. No, it doesn’t have to be from state to state it can be within the state. Businesses and Individuals moving often use relocation services to streamline the process of moving and to eliminate the stress that is associated with moving.
5: Homeowner Specialist: Ok so this one is kinda weird to explain. The first thing you think oh property management. Yes and No. Homeowner Specialists focus more on the general interest of the property already purchased and lived. They help the homeowner on basically maximizing the operation of the property and ways to keep them in their own home. They normally work with banks, insurance companies, and the state. This you can do this at home with consultation and research then visit if there is a need to visit the property in question.
So this is just a few examples of what you can do as an agent during the best of times and the worst of times. Yep I went Dickens.
If you’re interested in learning more about getting your license or taking the classes check out our Resources and Education link and visit the CE Store! If you have any questions don’t hesitate to comment or contact us.
I am sure in sometime in your life you have thought of owning something. A house, a car, a boat or a horse. Most popular would probably be a home or land. You scroll through Zillow, Trulia, Street Easy (shoutout to New York City) thinking of what you can afford with this budget you created in your head. You click on your dream property only to find out it’s reality.
The mortgage payment is over the top. You don’t have enough for the down payment or you didn’t factor in little things like closing cost or moving. Then you are standing in front of the listing agent or the owner selling his home and you are now in the awkward position of walking away from a home you clearly cannot afford or didn’t know the full cost. That’s why knowing your what is in your pocket is important. Also why the average agent will always ask the infamous question- “Are you pre-approved?”
Now let’s address the elephant in the room. Pre-approval doesn’t always mean budget. The pre-approval process is from the perspective of the lender. Lender reviews your financial information and they decide on how much to invest in your goals. Depending on the circumstances you may have saved that can result in the final budget. However,that’s not the only budget. We tend to forget the personal needs.
We factor in purchasing the property, we often forget the day to day. We need to pay bills, eat, save, work, and have some fun. So when planning to become a homeowner, take into consideration your personal business. What do YOU need per month to be comfortable? How much of that is for the home and personal expenses? How much is left for your pocket?
One of the common issues often not addressed after purchasing property is when things happen. Leaky roof, maintenance, or changes in family life (marriage,divorce,children etc..) just to name a few can impact a your pocket. So as a suggestion, I often advise agents (to inform their clients) and my personal clients to have three main accounts. A savings account, a household operation account, and personal allowance (liquid funds).
The three mentioned accounts will allow you better control of your budget for home,emergency and everyday without counting every week. It also helps when it comes to addressing the financing or pre-approval process for your mortgage or when it’s time to close on a property. Those little things change your perspective on how to approach the search of your own property, without the additional concerns of doing the math in your head. As we do, sometimes. Also, here is the cool thing when it comes to knowing your budget for purchasing and beyond, confidence.
By knowing what’s in your pockets and what you can reasonably handle, you have the confidence to talk to an agent,a lender, a seller or even an attorney. They know that you are no nonsense with your money and time, and they will work with you to achieve your goals. Also another awesome thing, standards.
By knowing your finances and your budget for purchasing, you have a reasonable idea of what you want and don’t want. Also, available to meet those requirements. Something so simple as building a container home or purchasing a condo, you know what you are looking for and how you can afford it with confidence.
The best decision I ever made was getting my real estate license. There are over 10 specialties in real estate. Property Management,Sales, Investment,Consultants, and Insurance just to name a few. Never limit your potential, or your opportunities. For some opportunities in real estate, you will need a real estate license.
The Genesis Home has partnered with The CE Shop, the leader in online real estate education, to provide you with the highest quality Pre-Licensing, Post-Licensing and Continuing Education courses. These are state approved,self-paced courses that you can take in the comfort of your own home or anywhere you have internet access.
2020 was a huge shock in Real Estate. We witnessed rental freezes, large corporations declaring bankruptcy protection or unable to pay rent (that was a surprise to many) and agents under stay at home orders,working from home. While working from home the importance of virtual has increased and changed the relationship between real estate agents,our brokerages, and our clients.
Due to increased need to go virtual during 2020, agents stopped being the salesperson that we are known for and became advisors. Through our knowledge in Real Estate,Marketing and Resources at our disposal, we guided our neighbors through some of the concerns they faced during 2020.
As agents we also saw how the use of Virtual Open Houses, Zoom Calls and Digital classes has cut time and cost and changes in negotiations. As states start opening it’s important to leverage both sides. The virtual for the first visit and conversations with buyers,sellers and the people who make it all possible. The physical for the final walk through and inspections.
As agents, clients, and support we found a way to streamline the process that will respect the need for safety, controlled interactions, and follow the requirements from our state and local officials. 2020 was the opportunity to bring together the simplicity of the virtual with the follow through needed physically. Personally,I loved it.
As agents, it challenges our commitment to our clients, our knowledge and education ,and why we went into real estate. 2020 separated the entrepreneurs from the commission chasers. It also changes how we build relationships with people we meet.
As those interested in Real Estate, the need for agents has changed as well. No longer do they need to bring us with them to open houses, physically have to be present in negotiations and traditional presentations. We were consultants, advisors and facilitators for sales, purchases, and beyond.
As members of the Real Estate Industry, we need to learn how to utilize both (virtual and physical) approaches to not just sell but in communication and outreach. As entrepreneurs, I hope we took this opportunity to observe, learn and adapt.
Be Safe! Be come the change you want to see in your community!
When I was a child, I thought the coolest thing in my neighborhood was knowing that a butcher shop or deli was family-owned or managed. People often underestimate the role family-owned businesses have in our understanding of the business as a whole. Individuals with different specialties coming together and creating this amazing thing that is done well can stay within the families for generations to come. Let me explain why family businesses should be considered as a model when you start your own business.
Specialties: If you have a relative who specializes in Art/design, legal, financial services, and business operations you have the team right in your own backyard. They all don’t have to be chefs, or the store owner, or the contractor for the building. However, the roles they play in that business, mean a lot. They will understand the core mission of the business but will contribute in different ways for that business to continue.
Values: Before the idea of a business was started they understood the values and commitment to what goes into keeping the family together. They already know their importance to the house. They learn that by doing chores, how to save money, and how to take care of a house. They are taking those lessons from home and applying to the property management company they started or the restaurant they built. The preparation was already at the house.
Investment and Legacy: This is not a separate idea. Investment and legacy are important. Not just financial investment, cultural investment. As a family, they learned community is important to the health and safety of the people who live there but also the longevity of the business itself. Family-owned businesses rely on the community to help them grow and last. That community investment mixed in with core values is what keeps a legacy alive beyond the family that established the business.
Now, I am aware people are going to say not everyone has that kind of relationship with their family or even has a family. That’s true but I don’t mean family in the traditional sense. There are always two kinds of Families. The ones you born with and the ones you developed over time. I mean a core group of people with a shared interest and vision that last them even when things get tough. I forgot one more thing!
Trust: No one is going to understand you or business but the people you trust. Trust will always be the most important part of a family and a business. If you can’t trust them starting out, you shouldn’t go into anything with them.
Family-owned businesses established and managed well has everything in one. Trust, Values, Legacy, and Specialties. That should be the basics of all our businesses and our entrepreneurial lifestyle. Everything else can change over time. Think about it.
2020 is a game-changer in many ways. In one year, we are dealing with economic changes, a pandemic, and social unrest at the same time. There is nothing that can fully express how overwhelming that is on a human and a society. This is a trifecta of confusion, fear, and loss. We cannot explain it, spin it or ignore what is going on. So what do we do? We own it.
We own the fact that our lives are never going to be the same. We own the fact that what we relied on will change. We own that how we view things like real estate, health, money, and jobs will be forever changed. That the new normal is inevitable. We have to understand that and own it. However, the next question is what do we do next? How do we as humans, as families, and as a society, move on? The answer is up to you.
It is up to you on those next steps. It’s up to you on how you prioritize in your new normal. Are you going to focus more on your mental and physical health? I hope you do. Are you going to focus on building other streams of revenue to have some options when you’re out of a job or changes happen? Because you have seen the differences in both and you rather have multiple options than rely on one. Will you study more and actually take the time to gain some knowledge because you want to have the comfort of being able to see multiple points of view. This is up to you.
But think about these three things first:
Standards: What standards are you going to enforce in this new normal? What do you want in your (Professional and Personal) bubble? And how are you going to make that happen? Represent your standards.
Peace & Strength : What are you doing to help yourself mentally and physically? Nothing matters if you are not ok. Remember this is a heavy year, no one is coming out of this unscathed. We all have wounds that need healing.
Priorities and Knowledge: What is important for you to learn more about? What are your priorities in your new normal? What steps are you taking to ensure you are achieving those goals?
Take this time to view your role in this world differently. You matter more than ever. Your voice matters. Your money matters. So let’s go show them what you bring to the new normal table.
The Genesis Home 