November 1991 That's an old sales cliche' that's been around for a long time, but it still holds true when things start to look bleak - and in many parts of the country that's how they're starting to look.
Continue reading “When The Going Gets Tough, The Tough Get Going . . .”
October 1991 Do you ever get the feeling that you're working in an ant hill full of faceless, nameless automatons, all of which go about their tasks mechanically? Have you ever pondered what makes you worth what you're paid? How your cost to your company compares to profits you earn them? Do you concern yourself as to exactly whether/how your efforts contribute to an end result - or how that result affects your employer for better or for worse? Do you see your employer laying off the wrong people to save money while retaining those others whose waste and inefficiency are the root of the problem? If you do, you'll relate to my own feelings. And you may be ready to BE YOUR OWN BOSS.
Continue reading “Be Your Own Boss! – Pursuing The American Dream . . .”
September 1991 Recently, on a visit to Atlantic City I noticed that they've got a new 5 letter word that they use a lot, TRUMP. Its plastered on 3 casinos, a high-rise hotel, on what seems like an endless stream of helicopters that buzz in and out of shore-side pads. They disgorge endless streams of high rollers, who can hold court in a sumptuous yacht also branded with that magical incantation: TRUMP.
August 1991 In George Plimpton's book, 'Paper Lion', one of the football players reportedly said that their team hadn't lost, it had just run out of time. Are you running out of time too? Before you can answer that question objectively, you have to know (a) the name of the game, (b) whether you're actually playing or not, (c) what you have to do to put points onto the score board, (d) how many points it takes to win, (e) how much time you've got left to play and (f) how many points you already have on the board. As we enter this summer of 1991, might not this be a good time to take stock? Let's see if we can answer some of the above questions in an effort to see how we're doing. we'll start with the name of the game.
July 1991 We all know that ownership of assets and/or earnings is a key to wealth. That leverage - the use of O.P.M. (other people's money) can amplify both the positive and negative yield of an investment in terms of income yield and/or gain. That the use of an asset - even when it's owned by another party from whom it has been rented - in the productive pursuit of profit can generate high income to either the lessee or lessor, or both of them. But the concept of waiting to commit ourselves until AFTER a profit has been assured is the most powerful of all. And the two-letter word that sums up this powerful fortune-building concept is IF! Consider how it's used below: IF values go up, I'll Buy. IF prices go down, you'll have to buy. IF cash flow won't support the debt, I'll give it back. IF I sell my house, I'll buy yours. IF I can get 9% financing, I'll refinance the debt. IF you credit part of the rent payment toward the purchase price, I'1] buy. IF you'll make capital improvements, I'll lower the rents. IF I can raise the down payment I'll buy. IF you'll give me a big deposit, I'll give you a long term lease. IF I can re-discount your Note, I'll buy it.
Continue reading “What’s A Two-letter Word That Can Create A Fortune?”
June 1991 During the last decades of the 1700s, Mayer Rothschild, accumulated wealth unobtrusively, living quietly in Frankfurt's Jewish ghetto while he traded in old coins and used goods. Then he started lending money - not only to the needy at high interest rates, but to highly placed influential personages of Prince William's court - at low interest rates.
May 1991 Have you ever noticed that certain people always seem to be able to get a better deal when they buy or sell? Oh, there are always the fish stories about the one that got away. And there are those once-in-a-lifetime transactions that happen from time to time that are more a matter of luck than anything else. But the people I'm talking about are those who seem to be able to consistently wind up with the bigger slice of pie regardless of the circumstances. What's their secret?
April 1991 That was an old transition line from the 'B' movie era which helped to get the hero out of the action and back to the romance. A month ago I was hedging between a short war and a long war projection. This month history seems to have taken charge of events and we'll go back to focusing on surviving the recession and to the greatest extent possible, improving our financial position.
March 1991 There used to be a game we played based on questions which seemed to have obvious answers, but for which the correct answer was completely different. The answer to this month's question would vary depending upon which side of the world a person was standing on. So also would the answers to questions regarding the future for investors and entrepreneurs. Here are some more questions you might try to answer. We've provided some helpful hints.
February 1991 Investing is tough. Real estate investing is tougher. Investing in mortgage paper secured by real estate can be the toughest part of the business - when equities are falling during a recession! Why? Because the mortgagee is merely holding a PROMISE of payment secured by a claim against that falling equity. In today's climate, one of the easiest promises to break is a promise to pay. When that is given legal and ethical sanction by the law, the natural result is that millions of loans go into default.
