Financial life in real estate

431 views

Published on

Pete the Planner's Workshop which discusses surviving on a commission income.

Published in: Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
431
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
3
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Financial life in real estate

  1. 1. LEARNING TO HANDLE THEFINANCIAL ASPECTS OF THE REAL ESTATE BUSINESS with Pete the Planner
  2. 2. A GREAT REALTOR ISCRUCIAL TO A CLIENT’S FINANCIAL SUCCESS PeteThePlanner.com
  3. 3. THERE’S NEVER BEEN A BETTER TIME TO BE A REALTOR PeteThePlanner.com
  4. 4. INTEREST RATES ARE LOW PeteThePlanner.com
  5. 5. HOME PRICES ARE LOW PeteThePlanner.com
  6. 6. GDP IS ON THE RISE PeteThePlanner.com
  7. 7. UNEMPLOYMENT IS STEADY PeteThePlanner.com
  8. 8. LESS COMPETITION You’ve weathered the storm PeteThePlanner.com
  9. 9. MORE FOOD FOR YOU 2012 Below 1,000,000 PeteThePlanner.com
  10. 10. WE HAVE ALREADY HIT BOTTOM PeteThePlanner.com
  11. 11. R` PeteThePlanner.com
  12. 12. ALL THE EXCUSES ARE OFFICIALLY GONE PeteThePlanner.com
  13. 13. THE MARKET IS READY Are you? PeteThePlanner.com
  14. 14. HUGE MONTHS TO $0 PeteThePlanner.com
  15. 15. I LOVE EVERYTHING BUT... how I’m paid PeteThePlanner.com
  16. 16. CHANGE YOUR THINKING• You don’t eat all of your groceries when you get home• Constantly getting bailed-out gets old• Run your business like a business• The key: Your Household Budget• What is average income? PeteThePlanner.com
  17. 17. BIG MONTH Relax. Breathe. PeteThePlanner.com
  18. 18. YOURPAYCHECKSCANNOT BE The Rescue Squad PeteThePlanner.com
  19. 19. BE A BUSINESS You need a bank account PeteThePlanner.com
  20. 20. INCOME VS REVENUE PeteThePlanner.com
  21. 21. IT STARTS AT HOME
  22. 22. COUNTING TRANSACTIONS PeteThePlanner.com
  23. 23. A WEEK GONE TERRIBLY WRONG• Monday-coffee, candy bar, lunch, coke, Target, Walgreens, dinner• Tuesday-coffee, gas, lunch,• Wednesday-donuts, coffee, dinner• Thursday-breakfast, chips, CVS• Friday- lunch, dinner, club• Saturday-coffee, gas, lunch, car wash, drinks, dinner, drinks• Sunday-breakfast, grocery, Macys, lunch
  24. 24. BUDGETING PeteThePlanner.com
  25. 25. GIANT MISCONCEPTION ABOUT BUDGETING PeteThePlanner.com
  26. 26. BUDGETING IS• awareness• communication• accountability PeteThePlanner.com
  27. 27. 5% 3% 5% 25% 5% 5% 5% 10% 15% 10% 12%Housing 25% Transportation 15% Food 12% Savings 10%Utilities and Phone 10% Charity 5% Entertainment 5% Medical 5%Holidays/Gifts 5% Clothing 5% Misc 3% PeteThePlanner.com
  28. 28. $15K...TWO WAYS• Jan $4,000 • Jan $3,000• Feb $0 • Feb $3,000• March $9,000 • March $3,000• April $2,000 • April $3,000• May $0 • May $3,000 PeteThePlanner.com
  29. 29. PAY YOURSELF A SALARY PeteThePlanner.com
  30. 30. SETTING YOUR SALARY PeteThePlanner.com
  31. 31. BUDGET - OTHER INCOME = YOUR SALARY PeteThePlanner.com
  32. 32. KNOW THE FACTORS• How many incomes are in your household?• Are the other incomes fixed?• Discretionary spending needs to re-evaluated• Debt minimum payments• Take the pressure off PeteThePlanner.com
  33. 33. EARN YOUR BONUSSet quarterly activity and sales goals to earn your “bonuses” PeteThePlanner.com
  34. 34. END THE ROLLER COASTER PeteThePlanner.com
  35. 35. ECONOMIC STRATEGIES TO INCREASE SALES PeteThePlanner.com
  36. 36. USE INTEREST RATES TO UPSELL...RESPONSIBLY PeteThePlanner.com
  37. 37. THE PLAN ON HOW TOMAKE 2012 THE BEST YEAR EVER PeteThePlanner.com
  38. 38. HAVE YOU CRIED WOLF? PeteThePlanner.com
  39. 39. KNOW YOUR BUDGET PeteThePlanner.com
  40. 40. PICK YOUR SALARY PeteThePlanner.com
  41. 41. PeteThePlanner.com

×