Archive for June, 2009
Truth, lies and personal development
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I was talking with a businessman the other day who has been involved with the wealth creation/personal development industry and we were discussing the fact that so much of what is taught in this area is both poorly researched and often simply “drivel”.
As an example He mentioned the “Harvard Study” that I have heard quoted by countless speakers regarding goal setting. There are 2 versions of the story, you are bound to have heard at least one of them.
Version 1 is that they researched 100 Harvard graduates in a particular year. Only 4 out of the 100 had clearly defined written goals. Ten years later those 4 were worth more than the combined worth of the other 96.
The other version is similar but ten years later the 96 were all working for the 4. I knew the story immediately as I have literally heard it a dozen times from many household names in the motivational speaker space.
And it’s a great example of the power of goal setting. The only problem is…… you guessed it,
It is complete nonsense!! No such study ever happened and people happily quote it because they heard it from a reliable source, who heard it from a reliable source, who heard it from who ever made it up.
So this is one of the reasons I try and write and speak out of my own experience. I can be certain of what has happened to me and works in my life without risking passing on fairy stories.
Even some of the harmless inspirational stories i have had sent to me or read about end up being fantasies. Completely harmless in most cases but there is always this sense of “betrayal” when something you thought was true turns out to be a nice story.
So thought for the day, live your life and make it interesting enough that you can share your own experiences with others and they will be inspired 
Stay Inspired and Stay Safe ~ Dean Letfus @ www.MassiveAction.tv
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Nothing stops a cycle
Posted by: | CommentsThe inevitability of economic cycles is clearly evident in our current situation isn’t it? No matter what governments and economists say or do to try and change things we are watching things continue to head in one direction.
I said in the New Zealand Herald in February that there was a potential avalanche of mortgage sales already on Banks books, however they were sitting on them so as to not undermine the market. As time has gone on some of those people have managed to sell down and survive, however we are starting to see the second wave of fall out now as the Herald reported today.
So for those who are on the receiving end this is sad but is just a fact of a recessionary environment. There are solutions in many cases, sometimes through being laid off or personal trauma we just have to walk through the pain and plan to recover our losses as quickly as possible. Failure is a recoverable event, not a person
And on the flipside for investors now is as bad as it needs to get for us to start taking action. Interest rates and cashflow have lined up to a point where very low risk properties can be purchased.
There is little risk of rents declining and with no cashflow drain and no competition now is the time to start looking again.
And in terms of the cycle, many of us are going through a down turn for the first time. So remember this time, it will come again. And between now and the next decline will be a recovery, a boom and another slowing down. A lot of our fear can be dissipate by understanding the nature of cycles, they are well…. inevitable.
I’ve had another raft of emails lately from people asking about how to deal with banks and “control” fallout if you are in a jam. So much so that I am wondering whether to do a webinar for those interested in some help with this. Please comment below this post or email me if this would be of interest to you or you know of friends who might find it helpful. If there’s enough interest I’ll set it up ASAP. There is plenty you can do if you are proactive.
Stay Inspired and Stay Safe ~ Dean Letfus @ www.MassiveAction.tv
PS: Thanks for the many thankful emails, Twitters and Facebook comments from those who took up my Geekversity free event opportunity. I told you it rocked
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Nothing more sure than death and taxes
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In the last 24 hours Farrah Fawcett and Michael Jackson have both died. It is a very public reminder of the fact that none of us gets out of here alive.
It is interesting too to look at the way they conducted themselves and for us to consider what we will leave behind.
We don’t too many actual facts about the total lives of either person. You cannot trust much of the media as we all know. What we do know in recent years is this:
Farrah Fawcett has fought cancer for 3 years and allowed her life to be viewed publicly to raise awareness about cancer and hope to see others better cared for. Regardless of what her life was really like she will probably be remembered as much for her openness and honesty in the face of death as her looks and stardom.
Of Michael Jackson we know he was an unbelievably broken man. His self esteem so damaged that he had to resort to bizarre physical changes to try and feel good about himself. We know he led a dysfunctional life and his true level of pain and sexual dysfunction may never be known, but it was there.
Without doubt he will be remembered as the greatest songwriter performer the world has ever known. Sadly he will also be remembered as a “weirdo” who probably interfered with kids and who hated himself so much he literally destroyed his own body.
As he only died today we have yet to find out whether he took his own life or not. Given his mental illness don’t be surprised if he died at his own hand.
So one of them had 3 years to prepare for death, 1 was sudden. One had time to massage their persona, ( not saying she did, simply that she had time), one didn’t.
You and I will face the same 2 options. So we should think deeply about this and make some choices now. If I died today would i be proud of what I left behind? Would I be happy to be sitting at my own funeral knowing that the words being spoken about me were empowering, kind and most importantly true.
And if the answer to either question is no, what are you going to do about it. Because they can and should be true.
Stay Inspired and Stay Safe ~ Dean Letfus @ www.MassiveAction.tv
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Pain, the great motivator
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I was discussing a business issue with a consultant yesterday and he asked me a question I have often asked others.
“What are the consequences of not changing?”
It was weird to have someone ask me that instead of the other way round but it was a question I should have ben asking myself. Thinking about the consequences of not improving/solving or completing a situation are a great leading indicator of incoming pain and whether we like it or not, pain is the great motivator.
There are many cliche’s around this but they are really true.
“Change only occurs when the fear of change is overtaken by the pain of your current situation.”
We run towards pleasure and away from pain. That is true. However our ability to tolerate pain is almost unbelievable. It’s a bit like the frog in the pot story. Because the pain levels often increase slowly, we don’t feel it until the waters boiling.
So as I read the international news overnight and see 24 hours of total carnage in the USA I can deflect that pain because it isn’t mine. Well not yet anyway. I can empathise with the millions of people whose lives are unravelling but it doesn’t motivate me. Over 1 million homes sold at mortgagee is just a number. Unemployment at 10% is just a number. Every stockmarket in the world except Germany falling overnight is just information.
But if I lost my job, hello pain. If I lost my life savings on the DOW overnight, THAT needs to motivate me.
I must find a way through the shock and disappointment and move to asking myself an empowering question.
“What are the consequences of not changing?”
“If I do nothing about this what will the pain levels ultimately be?”
I am finding that for many property people the pain of change is less than the pain of their current situation and this is ultimately going to be worse.
For example let’s say you are, like me, stuck with a trade gone wrong or just holding a negatively geared lemon for some reason.
Initially you think you’ll be able to sell it or ride it out so you top up the loan and try to get it sold. So far so good, this is exactly what you should do.
But then the recession starts to bite and it becomes increasingly obvious that selling it may not work, so you look at the break costs to get the loan on to lower interest. Break costs are high and you’ve already spent most of your surplus cash on topping it up so you decide to “tough it out”.
Now your element has just been turned up but you didn’t notice.
So roll forward another 4 to 6 weeks and you have to start cranking up your credit card to meet the mortgage payments, you’re starting to simmer now .
You come and see someone like me to get some “professional advice” and you are told to sell at whatever level you can because that will allow you to fight another day and sitting where you are is not working.
Initially you feel better that you’ve taken some action and gotten some help but by the time you pull in the driveway you can’t believe you paid somebody to tell you to do what you have been trying to do all along.
You forget the many offers you had on the property that weren’t at a level you thought was “fair”, but were at levels you could have sold at, which is exactly what your advisor recommended you do.
So finally you miss a loan payment and contact the bank immediately going onto penalty interest and it’s so hard to see because of the boiling water getting in my eyes!!
For nearly all of us the pain doesn’t kick in till here and now we are out of money and options compared with what we could have done 6 months earlier. But we hadn’t asked the right questions of ourselves then had we??
So my friends, in your investing, in your business and in your life today………
“What are the consequences of not changing?“
Stay Inspired and Stay Safe ~ Dean Letfus @ www.MassiveAction.tv
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If you don’t laugh at this you are dead :-)
Posted by: | CommentsQ: Doctor, I’ve heard that cardiovascular exercise can prolong life. Is this true?
A: Your heart is only good for so many beats, and that’s it… don’t waste them on exercise.
Everything wears out eventually. Speeding up your heart will not make you live longer; that’s like saying you can extend the life of your car by driving it faster.
Want to live longer? Take a nap.
Q: Should I cut down on meat and eat more fruits and vegetables?
A: You must grasp logistical efficiencies. What does a cow eat? Hay and corn.
And what are these? Vegetables. So a steak is nothing more than an efficient mechanism of delivering vegetables to your system. Need grain? Eat chicken.
Beef is also a good source of field grass (green leafy vegetable).
And a pork chop can give you 100% of your recommended daily allowance of vegetable products.
Q: Should I reduce my alcohol intake?
A: No, not at all. Wine is made from fruit. Brandy is distilled wine, that means they take the water out of the fruity bit so you get even more of the goodness that way.
Beer is also made out of grain. Bottoms up!
Q: How can I calculate my body/fat ratio?
A: Well, if you have a body and you have fat, your ratio is one to one.
If you have two bodies, your ratio is two to one, etc.
Q: What are some of the advantages of participating in a regular exercise program?
A: Can’t think of a single one, sorry. My philosophy is: No Pain…Good!
Q: Aren’t fried foods bad for you?
A: YOU’RE NOT LISTENING!!! ….. Foods are fried these days in vegetable oil.
In fact, they’re drenched in it. How could getting more vegetables be bad for you?
Q: Will sit-ups help prevent me from getting a little soft around the middle?
A: Definitely not! When you exercise a muscle, it gets bigger.
You should only be doing sit-ups if you want a bigger stomach.
Q: Is chocolate bad for me?
A: Are you crazy? HELLO Cocoa beans! Another vegetable!!!
It’s the best feel-good food around!
Q: Is swimming good for your figure?
A: If swimming is good for your figure, explain whales to me.
Q: Is getting in-shape important for my lifestyle?
A: Hey! ’Round’ is a shape!
Well, I hope this has cleared up any misconceptions you may have had about food and diets.
And remember:
‘Life should NOT be a journey to the grave with the intention of arriving safely in an attractive and well preserved body, but rather to skid in sideways – Savvy in one hand – chocolate in the other – body thoroughly used up, totally worn out and screaming ‘WOO HOO, What a Ride’
AND…..
For those of you who watch what you eat, here’s the final word on nutrition and health.
It’s a relief to know the truth after all those conflicting nutritional studies.
1. The Japanese eat very little fat and suffer fewer heart attacks than Australians
2. The Mexicans eat a lot of fat and suffer fewer heart attacks than Australians
3. The Chinese drink very little red wine and suffer fewer heart attacks than Australians.
4. The Italians and French drink a lot of red wine and suffer fewer heart attacks than Australians.
5. The Germans drink a lot of beers and eat lots of sausages and fats and suffer fewer heart attacks than Australians
CONCLUSION
Eat and drink what you like.
Being Australian is apparently what kills you.
Stay Inspired and Stay Safe ~ Dean Letfus @ www.MassiveAction.tv
PS Don’t forget to join me for free this weekend!! INFO HERE
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Enjoying the roller coaster?
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It’s certainly an interesting time to be alive isn’t it. We can now definitely say that nobody really knows what is going on.
In Iran we have an election that is simply being rejected to the point of death.
In the USA we have billion dollar bailouts that haven’t even slowed the carnage down, let alone arrest it.
In England we have corruption issues and the nation is basically bankrupt.
And on the NZ Herald website today the top national news stories are Big Wednesday and Air New Zealand’s cheap airfares. So at least we have our priorities sorted .
And on the property front things are weirder still. I’ve had very “ordinary” properties for sale since October without a serious offer suddenly sell at full asking price and at the same time have had a very saleable property not even attract 60% of genuine value. There is no silver bullet or secret weapon with property in this market. Utilising your skills to help those wanting to buy or sell is a low risk strategy currently and if you are cashed up then it is a pretty good time to be going shopping. But anything leveraged is difficult right now because of ongoing uncertainty.
This is also a good time to be working on your own skills, whether that is getting more financially literate so you can analyse deals better, working on your personal development so you are better emotionally equipped for the stresses of property or simply taking stock of your life and ensuring you are spending time on and with the people and things that really matter to you.
This market will change and given enough years everybody will forget about it, but your friends, lovers, memories, children and adventures you only get to live once.
And don’t be afraid to admit your mistakes and change your world view if that is required. I know I have rethought and readjusted many things in the last 6 months. Situations, events, failures all come to give us feedback so we can grow.
So whatever “stuff up” is looming large in your mind today remember it is just an event. You will get over it. It is never as bad as it looks.
I’m not quoting meaningless platitudes to you here, I am sharing with you things I know to be true. I have days when a head on car accident would be a good solution to a problem, but given time, help and advice, I don’t die. It does end. Sometimes it works out way better than I expected. So I adjust my life to what works. Let me finish with one example.
As a “new school” property investor I embraced the “never sell” mantra and I could see all the reasons why it was good. In addition to the “why sell assets that are going up in value” there was also the luxurious thought of being able to say I owned 10, 20 or 30 properties.
I also remember becoming quite set in my opposition to “old school” types like Olly Newland and others who taught that it is good to sell down when the time is right and never sell was a bad idea.
So we go through the last 9 months in the New Zealand property market and I now understand why Olly et al said what they do. It’s because they have been through this before and they are therefore wiser. Their position has been achieved through the crucible of experience. And that is something we can do every day. Learn through our experience. I now know that owning 50 rental properties is a 2 edged sword. And I was wrong to bag the old investors whose wisdom is well……. wise!
So don’t waste this opportunity to learn about yourself and reassess your goals, your rules and your life.
People think fresh scars are ugly, but on an old battler they engender honour and respect.
Make sure you become old, don’t check out early.
Stay Inspired and Stay Safe ~ Dean Letfus @ www.MassiveAction.tv
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Breathe in ~ Breathe out
Posted by: | CommentsAs Raewyn and I “enjoy” our second day of a cold I can’t help but think about
And the obvious question, to me anyway, is wheterh this is a genuine problem or a good media lunch. Here in NZ we have 1 serious case of swine flu so far as reported by the media. However as more information has been drip fed we discover that this serious case is asthmatic, morbidly obese and any cold or flu would have hospitalised her.
So in reality we don’t have a swine flu case in NZ at all, we have a media who have assigned a case to a person to create news.
So if we will do that here and it is so blatantly manipulated information, what is the situation internationally.
Add a few deaths to any disease and it becomes news, but that is so often out of context.
Allowing you 1 minute to read this post so far means that 96 people have died since you started reading.
If you knew that in 2007 196000 people died of measles, yes good old measles, would you be so concerned about Swine Flu?
25000 people die every day through poverty!!
So as we are bombarded with supposed facts and news remember we are being fed information that sells, FULL STOP.
It doesn’t have to be accurate, it is NEVER unbiased and it is often designed to create fear or euphoria.
Do we have a global pandemic that is a serious health problem?? I have no idea. And based on our situation in New Zealand and teh total number of deaths you would have to assume absolutely not.
We have many killers currently in the world, TB, measles, cholera, starvation, diabetes, the list is quite long. I somehow doubt that swine flu will evre join their ranks.
I have found a great way of testing for swine flu however that is simple, fast and accurate.
First thing in the morning, before eating or bathing, stand in front of a mirror and check for any signs as detailed in the picture below. If you don’t have this symptom you don’t have swine flu!
Stay Inspired and Stay Safe ~ Dean Letfus @ www.MassiveAction.tv
PS Don’t forget to join me for free this weekend!! INFO HERE
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