Boomer’s Blog

Tim Ferriss, author of The Four-Hour Workweek: How to Escape 9–5, Live Anywhere, and Join the New Rich (4HWW), majored in East Asian studies at Princeton University. Soon after graduation, he found his self-imposed cubicle lifestyle wasn’t giving him room enough to breathe, much less twirl. In 2004, Ferriss was working 80 hours a week to build his company and found himself burning out. So he put three days of clothing into a backpack and bought a one-way ticket to London … and wound up in Argentina as a world-class Tango dance champion.

Ferriss’ manifesto, the 4HWW, captures the wisdom and quixotic joy the author found when he traded his cubicle for the excitement-packed lifestyle of his dreams. Published last year, the book quickly became an international best seller.

Escape Inhibitions and Discover your Life
Ferriss urges people to shed the traditional expectations that wedge them into cubicles and create luxury lifestyles in the present using the currency of the new rich: time and mobility. This process is an art and a science that Ferriss refers to as lifestyle design (LD), and in 4HWW, he provides a deceptively simple strategy for achieving it.

Design your Lifestyle
For real estate entrepreneurs, 4HWW nails the formula for maximizing effectiveness in your endeavors. Your business may be surviving, but is it thriving? Many of us escape the regular grind only to become totally submerged in busywork that keeps us from accomplishing the more important tasks that fuel our business growth.

To really excel in this business, no true innovation is needed. When you automate and outsource your grunt work and use systems that have been proven effective, you’re well into the metamorphosis from which you will emerge a true real estate entrepreneur.

Automate and Recreate
For most of us in the real estate game, marketing easily can become a central vacuum system that swallows time and energy and rarely pays off. How can you effectively run your business when you’re struggling with lists, copy writing, mailings and postage?

If this is not your strong point, it may be time to follow Ferriss’ advice: Emphasize your strengths by delegating your weaknesses. When you’re using your strengths to build your business rather than being forced to focus on your weaknesses in mindless tasks such as marketing, your business, your income and your self esteem can reach new heights.

Give your Strengths a Workout
When you’re using an effective marketing system, such as SalesTeamLive, you know it’s working because you’re receiving a steady flow of calls from motivated and qualified sellers and buyers every day. And you’ve actually got the time to make the deals you know will take your business to the next level.

In 4HWW, Ferris successfully reminds us that time is short and we only have one chance to live the lifestyle each of us desires. His lifestyle design provides us with the necessary framework to transform our businesses and to embrace opportunity without fear or regret. Bravo, Mr. Ferris.

Look for my full review of 4HWW, coming soon.

As Foreclosures Rise, Investors Pull Back: Defaults on home mortgages touched another historic high late last year as foreclosures on adjustable-rate mortgages surged, an industry group reported on Thursday.

5 Ways Real Estate is Better Than Domain Names: 1. Easy financing. 2. Title insurance.3. No “Support” middlemen. 4. Your tenants are your tenants. 5. No one is going to twist the law and steal your house.

Real estate experts say time is ripe to snap up land: While builders need to sell inventory even if it means going without a profit, they should consider buying land for the future when experts predict a shortage of available lots.

U.S. foreclosures soar as borrowers ‘give up’: U.S. mortgage foreclosures rose to an all-time high at the end of 2007 as borrowers with adjustable-rate loans walked away from properties before their payments increase.

Ahead of the Bell: Mortgage Lenders: The financial industry needs $1 trillion in permanent capital to help stabilize and improve the pricing of mortgage assets, but is unlikely to receive it.

A Different Approach to Revitalizing the Housing Market: While U.S. Federal Reserve rate cuts and the economic stimulus package are helpful, they aren´t enough to bring the economy back from the brink of recession. Some mortgage lenders´ decision to temporarily suspend the foreclosure process through “Project Lifeline” is encouraging but more drastic steps need to be taken to help a housing market that is obviously in trouble.

Crisis deepens in U.S. mortgage market: After surging in popularity during the U.S. housing boom, the risky subprime loans now are contributing to a record number of home foreclosures across the country, as many borrowers find themselves unable to pay the exorbitantly high interest rates that are starting to kick in after a few years of paying super-low “teaser” rates.

Investing: Balancing Risk And Opportunity: Prices are down. Inventory is up. And demand for new construction is withering on the vine. The days of flipping houses for a 30 percent markup, it seems, are gone for good. Yet, while some maintain that acquiring property now presents too great a risk, there are those who insist the current market correction spells opportunity for bargain hunters who are willing to wager on the long-term health of real estate.