Building YOUR Wealth - One Step @ a TIME


We ALL have rough patches in life; times when the sun doesn’t shine, but is putting a serious Success Burn on your friends, family and others you know.  Let me tell you, THIS IS VERY NORMAL.  Expect it to happen.

I know first had.  I’ve experienced some very. VERY DARK DAYS.  I wrote about some of them in the Amazon Book “Your Time is Now” I co-authored with best-selling author, Greg S. Reid, who’s associated with the Napoleon Hill Foundation and author of “Three Feet From Gold”.

There are only 2 ways to deal with setbacks:

  1. Accept them and wallow in self-pity – justify to yourself you’re a victim
  2. Act like a Champion and GET UP

So what does “GET UP” mean?  It’s the mental state of mind every major league pitcher has right after they dish up a Home Run, or a NFL quarterback has right after a sack.  They refuse to dwell on the past and focus on the future.  

Common perception is that Champion ALWAYS Win.  Statistics prove this happens WAY LESS than you think.

 

DO YOU HAVE A MENTOR?

John Lennon and Paul McCartney got it right when they wrote “I’ll get by with a little help from my friends”.  To see an original Sargent Pepper era video of Ringo, John and Paul singing this song, click the picture.

You, me, everyone, needs friend and Mentor that will help us get to that Champion State of mind when we've been sacked one too many times in Life.

If you need help now, it’s FREE and Happening this Tuesday 1/16/18 in Orland Park as part of the BUILDING HOPE FOR THE FUTURE  HOPE, 2018 monthly speaker series.  These are monthly talks, sponsored by local professionals such as myself, that focus on Life issues, work, family, relationships, divorce, your finances.  It's our way to give back to the Community we call home.

To find out more about this community focused effort click the logo below.

This month’s talk, scheduled for Tuesday evening 1/16/18, is about what you need to KNOW and what action You MUST Take do to find a Job today.

KNOW SOMEONE NEEDING A JOB? PLEASE SHARE THIS POST.
Tuesday's talk is packed with relevant tips, strategies, and things you Must/Must NOT Do to find a good job NOW.

 

For event info, time & place, and to register for this FREE motivational session designed to jump start your Champion Spirit CLICK HERE and remember it’s Absolutely FREE.

If you live in the Orland Park, or surrounding area, and need help with a Life Goal or Challenge, the like minded sponsors' of Building Hope are good people to call. 

Intelligence is evenly spread among people, opportunity is not.  If you see your chance You MUST take action to succeed.

If you need a mortgage loan or need help buying a new home, give me a call.  If you don't think you have enough saved, give me a call.  I just helped a young family buy a $160K home with Just $3,000.  (less than 2%) I gave them a great rate, showed them how they could buy with very little money by small changes in strategy and helped them through the process, beginning to end.

Work with me and you'll know Your Options and you'll be able to bring A LOT Less $ to Closing?

 

Call Me 708.966.9005 

Wayne O’Day  

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Posted by Wayne ODay on January 13th, 2018 7:40 AM

EVERYONE STRUGGLES TO SAVE MONEY.
  If it’s so important, why doesn’t it happen?  
My Theory…

 

YOU’RE PUTTING THE CART BEFORE THE HORSE

You’re simply failing to pay yourself first.  But if you don’t have enough money, how can you pay yourself first?  This is sounding a bit like a Pink Floyd Song Lyric.

USING HACK #3 - Yesterday my Clients were able to buy a $160,000 home with just $3000 out of pocket or about 2% of the purchase price – ALL IN!

This happened because of the small changes we made to their purchase contract.  We focused on value.  I guided my clients and their Realtor on how to structure the contract to provide the value we needed and still be attractive to the Sellers.  We did both and created a WIN – WIN.  They’ll celebrate New Year’s Eve in their new home.

 

Here’s the point.  Without a deliberate and consistent approach to savings, (weight loss, exercise, organization etc.) it will never happen.  With any extra money, you will always be able to find a need (Really a WANT) that will consume any money available and then some (this is called Credit Card Debt…a financial Cancer).

So for 2018 take a different approach be CONSISTENT and DELIBERATE with your Savings.  Map out your 2018 Savings Strategy.  While it would be nice to save a big pile of money in the next 365 days, the likelihood of achieving this goal are very small.  Focus on smaller goals; be deliberate and self-acknowledge your progress.  Small changes can have big effects over time; this is the basic principal of compounded interest which all investment strategies are based on.

COMPOUND YOUR EFFORTS FOR BIG PERSONAL RETURNS

Here are 5 simple Hacks that you can use improve your wealth position in 2018

  1. Drink your first cup of coffee at home and save the money you normally spend. Deposit it into your savings the day you get paid.
  2. Be aware of NEEDS vs. Wants. You Need to buy a train ticket to get to work, you don’t need Bluetooth headphones if you have a wired pair that are working
  3. Buy Value, not price. At the grocery store, focus on cost per unit (ounce, serving, cup) not the cost per package. When buying clothing, focus on utility and function. Can you wear it for both work and social events
  4. Repair your car. It is ALWAYS less expensive to repair your car. The reasons people buy new cars is WANT and DESIRE. Today’s vehicles are built to run a very long, long time
  5. AVOID DISTRUCTIVE DEBT – Credit Cards allow you to spend money you have yet to earn. When you use your credit card to buy dinner because you are short on money, you are negatively affecting your future lifestyle. 
Be aware and spend only money you have. Put away your Credit Card and use your Debit Card. You can still use it as Credit Card for security purposes, but you will only spend money you actually have.

It’s easy to write your goals; it’s difficult to make them happen.  Constantly remind yourself why you are doing this.  Monitor your savings.  It’s easier to stay engaged when you can see and measure the results of your efforts.  Small changes produce big results.

If your goal is to buy a new home in 2018, time to start making your plans now.  If you want to find out how you too can buy a home with 2% all in, give me a call.  Happy New Year.

Work with me and you'll know Your Options and you'll be able to bring A LOT Less $ to Closing?

 

Call Me 708.966.9005 

Wayne O’Day  

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Posted by Wayne ODay on December 31st, 2017 8:04 AM


Your Internet Freedom was restricted this week when the FCC voted along party lines to vacate the Obama era law that required internet providers like Comcast, Direct TV etc. to deliver ALL content without bias.  Said another way, they were not allowed to decide who’s content they will intentionally slow downNOW THEY CAN AND WILL!

I'M NOT FEELING THE GREATNESS


What do you suppose companies like BIG ONLINE BANKS would do to insure their content gets delivered FAST!  If you say PAY Google and COMCAST Money, YOU ARE CORRECT!

Ajit Pai, the FCC Chairman  (click 4 his background) led the revocation battle like a Darth Vader wanna-be.  Clearly this favors BIG search engines and internet providers who now have a new opportunity for a VERY LUCRATIVE income stream.  The flip side is that YOU, the consumer, is going to search a lot harder and longer to find smaller vendors offering BETTER CONSUMER OPTIONS; vendors who do not have the resources to compete financially.  In essence, this policy will guaranty the wealthiest companies will always come in first place.  It's like the NY Yankee Dream has come true "for Big Companies"  and the FCC made this all happen just in time for Christmas!

Today REALTOR MAGAZINE released an article that dives into this subject and the consequences you as a consumer will experience.  They say:

“The FCC’s rollback of the Open Internet Order will mean higher costs and slower service for millions of American consumers and businesses,” Elizabeth Mendenhall, president of the National Association of REALTORS®", said in a statement Thursday.  (Click to Read)

As this practice rolls out, you’re going to get some idea of what the Internet browsing experience in nations where the citizens don’t enjoy the benefits of the 1st Amendment.  I feel this policy violates the 1st Amendment rights of small businesses and Entrepreneurs.  What do you think?

Sometimes it's OK to go slow; like when you're trying to obtain a mortgage for the largest purchase you'll ever make.  When it comes to giving You Options, I'm all about slow.

If you need help sorting out what loan program and loan terms is best for your, give me call and I give you multiple options to choose from.  You pick the one that best for you.  You'll get a better rate because I won't be paying Comcast for speedy delivery.
Work with me and you'll know Your Options and you'll be able to bring A LOT Less $ to Closing?


Call Me 708.966.9005 

Wayne O’Day  

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.

 


Posted by Wayne ODay on December 15th, 2017 12:03 PM

I get it YOU'RE PISSED OFF.  We feel like our lives have been put on hold and we’re just marking time.  You don’t have money to (pick one):

  • ·         Buy a home
  • ·         Have a Baby
  • ·         Pay your Student Loans
  • ·         Buy Groceries 
  • ·         Retire

We all feel a little abandoned and betrayedWHY?  Let’s do a quick look back.  In 2005 – 2012 we had a financial crisis second only to the Great Depression.  Millions of peoples’ lives were ruined and millions more suffered Huge financial setbacks.  We spent 8 Very Long Years trying to right the ship.  We were weary of 8 years or contentious fighting in Washington where nothing was getting done because of Partisan Bickering.  So we elected a Republican Senate and House.  We expected the Prosperity Train to proceed FULL Speed Ahead and make our Lives (Yours, mine, Everybody's life) Great Again.

WHY IS THAT NOT HAPPENING?

Here’s the SMOKING GUNs!  a deliberate, strategic and systematic social media attach to divide us by race, guns, and women's rights.  The proliferation of nationwide "News" networks (click to see) accused of biased reporting driven by the political agendas of the ultra wealthy who own them (Koch brother added Time Magazine to their collection last week) rather than reporting factual new; and then there's CITIZEN’S UNITED(put em together All voting demographic groups are covered... Millennials to Seniors). 

When the Supreme Court allowed Corporations to make unlimited contributions to Political Candidates, MANY ( A Real Lot) Elected Officials demoted You, the Voter, to the Red Headed StepchildYou were important enough to be patronized, but clearly the powers to answer to were those supplying the MONEY.  As a result we as Americans overpay for Prescription Drugs because Medicare can’t negotiate with Drug Companies.  WHY?  Is this in your best interest?  Did they ask your opinion? I don’t think so.  But Lawmakers, urged by BIG MONEY from the Pharmaceutical Industry, created THE LAW that Makes YOU PAY MORE FOR PRESCRIPTIONS & HEALTH INSURANCE

Dig a little deeper into your pocket.  Deeper than the citizens of Canada, Cuba, Europe and the rest of the World for the same exact drug. 

You / Your Children are paying interest rates on Student Debt that is 200% more than current mortgage rates
.  If an educated America is good for Our Country and Good for us all, why are lawmakers penalizing those entering the workforce with high cost debt that will take decades to payoff.  BIG BANKS have powerful lobbyist and have financially enslaved our youth with High Cost Student Debt that benefits these banks, their execs, and their BIG stockholders.  There is no way for these kids to get low cost loans or get rid of the debt; SLAVERY IS ALIVE AND WELL IN AMERICA...Financial Slavery!


Do you want to really get Mad?  

If you were a citizen of Germany or Italy, your ENTIRE college tuition would be FREE!  But you live in the Richest Country of the World and You need to fund the Future leaders of our country out of YOUR Pocket.

WHAT'S WRONG WITH THIS PICTURE?

 

So what the average Joe and Jane to do?  Here’s my suggestions:

  • Share this post
  • Pay attention to how your elected Reps are Voting – This is public record
  • ·         Let them know what YOU STAND FOR and ask them if they share your values
  • ·         Let them know that you are watching
  • ·         MOST IMPORTANT – Vote for Candidates that act in the best interest of You, Your Family and Your Neighbor.

 

To see the letter I wrote to My Congressman CLICK HERE and then write one to Yours

TO Find out how to contact your Senator and Rep – CLICK HERE

According to the Federal Reserve the GDP of the USA is sufficient enough for ALL AMERICANS to have a healthy and prosperous life…If it’s split up fairlyI did not say equally, BUT FAIRLY

Technology has accelerated the concentration of Wealth at THE TOP and made it very difficult for the little guy to get a foothold.  Just look at all the online businesses that flash and then disappear.  Look in your own neighborhood at the void of small businesses in the local mall.  

Are you a Winner of a Looser?

In my book "Your Time is Now" which I co-authored with Greg S. Reid (available on Amazon), I make the point "Winners don't always win, but Winners ALWAYS Get Up"

Is it time for You to Get Up?

Another point I make is that EVERY JOURNEY begins in the dark.  To move forward, we all need to take that first step and move out of the darkness.

When you ask me to help you with a Mortgage, we focus on what's best for you, your family, your specific financial situation. 

If you think you know how mortgages work and how you can use them to improve your wealth position, it doesn't matter where you get your mortgage.  

If you need help sorting out your options, give me call and I give you multiple options to choose from.  You pick the one that best for you.

Work with me and you'll know Your Options and you'll be able to bring A LOT Less $ to Closing?

Call Me 708.966.9005 

Wayne O’Day  

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Posted by Wayne ODay on December 10th, 2017 2:25 PM

An EPIC Tax bill, the size of Hurricane Harvey, is swirling around Washington.  The Talking Heads, especially Our President is saying this tax bill will be Great For YOU and Great forAmerica. 

The New York Times did an analysis based on a 25,000 taxpayer sample.  To read the article CLICK HERE.  The NY Times analysis tells a different story.  If you live in a high tax like New York, New Jersey, Illinois, California, Oregon and Washington (the business hubs of our country, where a Lot of Americans live, work & pay taxes) this bill is a BAD DEAL.  You will no longer be able to deduct your Real Estate Taxes.  Your Federal Taxes will increase:  Property Taxes Paid x (Federal Tax Rate + State Tax Rate) = Tax Increase

Example: $7,000 Real Estate Taxes, 28% Federal Tax Rate, 4% State Tax Rate

$7,000 x (.28 + .04) = $2,240 More Taxes you’ll pay for the loss of this deduction

The President is selling this tax plan as a Tax Cut for the Average is American.  There is No average America. As with all tax matters, your financial situation is noticeably different from your other family members, your neighbors, your boss and the other people you meet on a daily basis.  But I can say this tax bill will result in less spending money in your pocket starting New Years day, just 31 days from Now!

Here’s my take:

  1. If you take the Standard Deduction – You’ll likely get a tax cut
  2. If you itemize your expenses, like most Home Owners, you’re going to get a Tax Increase (see example above)
  3. If you live in an large urban area with expensive property taxes – you’re going to get a BIG Tax Increase
  4. If you’re currently renting, it will become even more difficult to buy a home with the elimination of the saving associated with the Real Estate Tax Deduction.  Especially in the large urban cities where the GOOD PAYING jobs are!

The Wealthy, I’m talking about the SUPER RICH like our President, the Koch Brothers and the Big Bank and Corporate CEOs   are getting a TAX Windfall. 

It’s estimated that the Trump Family will reap a $1 Billion dollar benefit from this plan and WE'RE ALL ARE GOING TO PAY FOR IT.

 

Our deficit is anticipated to increase by $1.4 TRILLION (that's a lot of cups of Starbucks!)  This is basically putting the Country's operating expenses on you, the taxpayer’s Credit Card. 

Your taxes will be higher FOREVER...Can't get ahead now?  It will only get worse.

 

All Corporations have big tax departments who’s sole purpose is to reduce or eliminate corporate taxes.  Reducing the corporate tax rate to 20% and not removing all the sacred cow corporate deductions will result in many corporations paying ZERO Federal Taxes.

I can’t emphasize enough what a bad deal this is for ALL working Americans (both Republicans and Democrats).  It will make the Rich Richer and the rest of America POORER.

It’s logical to ask Why did this happen?  I believe all trails lead back to the Supreme Court’s CITIZENS UNITED case.  It took all limits off what corporations (Koch Brothers, Big Banks, Big Companies, Wealthy Foreign Nationals) can contribute to our political elections. 

Remember the Golden Rule: “He who holds the Gold, MAKES THE RULES”.  While we may elect our Senators and Representatives, most of them answer to those that fund their campaigns and keep them in office and that’s not you and me.

If this post struck a nerve, get involved.  Email and call your elected politicians, especially the Republicans and let them know you’re watching and you don’t support the Tax Bill.  Share this post.  We're all in this together.

If You Need a Mortgage and want to know how you can Bring A LOT Less to Closing?  I work for You.

Call Me 708.966.9005 

Wayne O’Day  
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Posted by Wayne ODay on November 30th, 2017 5:48 AM


Average Citizens  are SAYING "ABOLISH GERRYMANDERING!"
You may not of heard of Gerrymandering, but you have likely felt the effects.  Gerrymandering is when Politicians use convoluted boundaries to corral voters by party and insure there changes for re-election.  BOTH Parties do this and it is
 JUST WRONG  
The Voters in Michigan have had enough and have been collecting petition signatures are a break neck rate to end the process ONE and FOR ALL.

To go to the website Click Here.
Elections should be fair and the outcomes reflect the will of the People.  Eliminating gerrymandering will do just that.  Instead of convoluted political districts, defined around political party voting records, districts would be organized around neighborhoods and communities.  How nice would it be for you and your friends, on the next block, to share your neighborhood input with one elected official instead of several different politicians.

Voters in Illinois have not been sitting on their hands.  There is a fight going on right now as was reported in the Chicago Tribune.
If you are Unhappy with the way things are going in Illinois, please share this blog.  What is needed is for EVERYONE to be aware and get involved.
Redistricting occurs after each 10 Yr. National Census.  The last IL Redistricting happened in 2011.  The next will likely occur in 2021.

At MORTGAGESPOT.NET I never play politics.  Everyone gets the same Great Deal.  I suggest 3 different interest rates and tell you what they'll cost.  You pick the one that is right for you.  Simple and Fast!

If You want to know Your Option and how you can Bring A LOT Less to Closing?

Call Me 708.966.9005 

Wayne O’Day  
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Posted by Wayne ODay on November 26th, 2017 10:30 AM




If a Genie Appeared and granted YOU one wish....a wish that you could use to wish away one debt, what would it be?

Based on the thousands of Credit Reports I've seen, the debt on the TOP OF THE LIST would be Credit Card Debt.

CREDIT CARDS ARE A FINANCIAL CANCER CONSUMING AMERICA

If you want to see how many people are in trouble with Discover Card (by far the MOST AGGRESSIVE at trying to squeeze BLOOD out of YOUR SHRIVELED TURNIPclick HERE to go the Cook County Court Case lookup and enter DISCOVER CARD in the Plantiff Box and hit search.  You'll see a list of exhausted souls, ready to be run over by the 10,000 pound CREDIT CARD Stone, just like in the 10 Commandments.

What debt are you struggle with?  Credit Cards are WORSE THAN GAMBLING IN VEGAS!  When you leave Vegas your Bleeding Stops!  When you charge dinner & drinks on your credit card, it can follow you, multiplies itself over and over FOR YEARS.

If I was going to make you a personal loan, the IL usury law allows me to charge you a Max Interest Rate of 9%.
SO WHY ARE CREDIT CARD COMPANIES ALLOWED TO CHARGE YOU 24% - 30%

Only 1 Reason - Banks have convinced Washington Law Makers it's a Good Idea...FOR THE BANKS!

Allright Cowboy, got the point Credit Cards are Evil; so what.  Tis the Season of GUILT!  The Christmas season where we extend ourselves way above our means by using credit cards.  
STOP READING NOW IF YOU'VE NEVER DONE THIS.
I see your still here; that's because we've ALL done this and it doesn't end well ever.

So here's the point...put them credit cards away.  We can settle this dispute in a peaceful manner.

Here's how we do this in our Family, we:
USE A FAMILY GIFT EXCHANGE
a) Put everyone's name in a hat.
b) Write Everyone's name on a piece of paper
c) Pull a name our of the hat and write it 
    next to the first name on the list (if both
      names are the same, toss it back into
      the hat and drawn again.
d) The Name on the list buys a gift for the
     name drawn and no-body else
e) Set a gift price comfortable for everyone
This allows everyone to get one Nice Gift and and give one Nice Gift.  In our family we make exceptions for Kids.  Everyone buys for the kids which is FUN!  You define who is a kid: 13 Yrs Old, Out of High School, Out of College.  Your Choice.

But PLEASE, PLEASE, PLEASE, Don't make your Finances any sicker, put away those Credit Cards.

WANT TO BUY A HOME, BUT CREDIT CARD DEBT IS HOLDING YOUR BACK?

When I write Your Mortgage, I wrap it around  YOU Like a WARM “FINANCIAL” SECURITY BLANKET.  You get a GREAT RATE, LOW Payment & Bring a LOT LESS MONEY to Closing so you can use the extra money to get rid of your Credit Cards.

A MORTGAGE DONE WRONG …gets you a low rate, but YOU'LL HAVE TO bring a LOT More Money to Closing,  Money that you could of used to payoff that cancerous Credit Card Debt.

You want to know Your Option and how you can Bring A LOT Less to Closing?

Call Me 708.966.9005 

Happy Thanksgiving

Wayne O’Day  

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b
Posted by Wayne ODay on November 22nd, 2017 6:06 AM


This is my 2 Yr. old Grandson (Cute...Right?) eating cake on the leather ottoman just minutes before Momma swept him up and put him in bed for eating cake on the leather ottoman.

He cried briefly and then declared “I’m Ready to be a GOOD LISTENER”.  Those Magic Words got him out of his bed and back into the party Fast.

We are involved on conversation each day.  When you’re in the those conversations are you being a Good Listener?

OR

Do you listen to formulate your response, because after all, YOU ARE RIGHT AND YOU KNOW IT.  

Sometimes it OK to listen this way.  Like when you’re checking out at the super market; “Paper or Plastic?”  However, most times it is not.

The National Association of Realtors Convention this year in in Chicago and last night I was at an event at the Hard Rock Café when I got to hear Juliana Rancic speak about people she's had the opportunity to interview.  The standout interview she shared was with George Clooney.  Juliana when on to say the when she spoke to George, he was present in the moment and listened to her questions.  He responses were not “Elevator Speak” but rather thought out and relevant to the questions asked.  This is an example of someone that is listening to understand.

DO YOU LISTEN TO UNDERSTAND?

Our day to day conversations are a lot more serious than Juliana interview questions; frequently they’re about your life... your relationship... YOUR FUTURE.  When you’re in these discussions are you most interested in defending your position?  After all you own it and you need to defend it, even if it’s wrong.

IF YOU DO THIS, YOU ARE LISTENING TO RESPOND

At my stage of life I know this:

  1. I’m all about Best Practices – That’s how progress is made quickly
  2. EVERYTHING is Negotiable
  3. I’m not always right

If there is an important discussion I’m having with my business partners or A client, I sometimes need to remind myself to set aside my opinion and solve for the optimal solution.  Frequently I need to revise my plan as to how things should proceed.  Sometimes it may take a little longer to accomplish our goal; but it gets accomplished.

When I’m ready to be a Good Listener, I stop marking time and get back into the Game of Life in a very rewarding way.

Have a Great Day and focus on how You can change life today by listening to understand?

DO YOU NEED HELP PICKING THE RIGHT MORTGAGE?  I'M READY TO LISTEN.

A MORTGAGE DONE RIGHT … is like Wrapping YOURSELF in a WARM “FINANCIAL” SECURITY BLANKET.  You get a GREAT RATE, LOW Payment & Bring a LOT LESS MONEY to Closing.

A MORTGAGE DONE WRONG …is like Putting a Very COLD “LOW RATE” KNIFE in YOUR BACK that will DRAIN YOU OFALL YOUR MONEY at closing.

You want to know more?

Call Me 708.966.9005 

Wayne O’Day  

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Posted by Wayne ODay on November 4th, 2017 7:00 AM


DEAD.  NEVER TO RETURN

The UPS Store in the Jewel Plaza at 131st & LaGrange was Killed by "THEM"



The time for small retail businesses is limited.  The insatiable appetite of Cook County Politicians for TAX REVENUE is putting every small retail center and their merchants on the ENDANGERED SPECIES LIST.  
AND YOU'RE GOING TO PAY THE PRICE!

I've had a mail box at this store for over 10 years with 4 different owners.  The last owner Luis Reyes, who also owns a UPS Store in South Holland, had the vision and determination to make this store succeed.  In addition to mailboxes, It was convenient for returning both Comcast & AT&T equipment, shipping packages, making copies and getting docs notarized; now it's GONE!

WHY?
HERE's THE AUTOPSY:
  1. The landlord has been demanding a HUGE rent increase for 2 Years
  2. Luis refused to accept the increases and tried to sell the store
  3. He found a Buyer, Ready and Willing
  4. The Landlord demanded EVEN HIGHER RENT from the prospective Buyer
  5. Buyer Walks - Deal Craters
  6. UPS store forced to Closed its doors on 10/25/17
Now you may think it's the Landlord's Head in the pictured above
YOU'RE WRONG!  
The Landlord is struggling to keep the center afloat.  I did a quick check and I estimate the Vacancy Rate to be 30%.  As a property manager I know when vacancy hits this level, the ship is taking on water and sinking fast.  Same story for many small retail centers in Cook County.

Is the vacancy caused by Bad Management? Financial Malfeasance? a Problem Tenant?....

NO IT'S REAL ESTATE TAXES!

No Landlord, in his right mind, would raise rents is a Very Soft market unless it was a matter of survival!  This strip center along with every other strip center, is trying to survive.

Here's a SHOCKING PREDICTION I heard on PBS, 1/3  of ALL the Malls in the Country are predicted to close by 2022.

Woodfield...Oak Brook...Orland Park...
Who's it going to be?

So why the insatiable need for Tax Revenue... Red Light Camera's, Soda Tax, Higher Water and NEW Sewer Fees, Garbage Tax, Higher Entertainment Fees and ???  Here's the reason:

PENSIONS! - PENSIONS! - PENSIONS!...Did I say Pensions!
That Demon Pictured above is GOVERNMENT PENSIONS! 
that's what's killing businesses
R.I.P. UPS


Here's the NEW REALITY...We Humans are living TOO LONG and ALL TRADITIONAL pension programs are insolvent.  Need proof? Talk to ANY Airline employee.  ALL Airlines went through Bankruptcy for ONE, and ONE reason only, to shed themselves of their Pension Plans.  They were too expensive to fund and unsustainable JUST LIKE ALL GOVERNMENT PENSIONS ARE UNSUSTAINABLE!  My Airline Pension, promised to me for 30 Yrs., was cut by 2/3 rds when, as a result of United's Bankruptcy, it was turned over to the PBGC.gov  POOF!
FINANCIAL REALITY
 TRUMPS
(the verb, not the president)
 "ALL PENSION PROMISES"
Our Elected Officials MUST do the same.  They MUST abandon Defined Benefit Pension Plans and adopt matching 401k's.  THIS IS NOT GOING TO HAPPEN. The reason they won't is because it's Political suicide!  Whatever Politician RINGS THE PENSION FIRE BELL will never be re-elected.  It takes boots on the ground to win a political campaign and if you just changed your political army's retirement color from ROSIE to GREY, you're going to be a Politician without ANY FRIENDS.

SO WHAT DO YOU THINK?
WEIGH IN... HOW DO WE THE TAXPAYER CHANGE THIS?  LEAVE A COMMENT


WHAT TYPE OF MORTGAGE DO YOU DESIRE?

A MORTGAGE DONE RIGHT … is like Wrapping YOURSELF in a WARM “FINANCIAL” SECURITY BLANKET.  You get a GREAT RATE, LOW Payment & Bring a LOT LESS MONEY to Closing.

A MORTGAGE DONE WRONGis like Putting a Very COLD “LOW RATE” KNIFE in YOUR BACK that will DRAIN YOU OF ALL YOUR MONEY at closing.

You want to know more?

Call Me 708.966.9005 

Wayne O’Day  

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Posted by Wayne ODay on October 28th, 2017 8:33 AM

I have MANY Friends that are Millionaires.  They’re self-made and they didn’t create a Killer App or product to make their fortune.  They’re both entrepreneurs and corporate executives.  As you look deeper as to why they are successful, you’ find there are TWO Common Traits ALL these people possess. 

Let’s look at Dick Portillo, the founder of Portillo’s Restaurant Chain and a self-made Billionaire.  Dick DID NOT come from Money.  He attended Argo High School in Summit IL, a gritty blue collar town, the home of INGREDION, a Very Large corn processing plant.  Summit has a unique smell that constantly reminds you where you are.

So how did Dick take a single, hotdog stand, he opened in 1963 and built it into a Billion Dollar enterprise?  It started when Dick was 17 while in the Marines.  That’s when his life changed.  It was not the TOUGHNESS of the Marines that changed Dick; it was when a really tough 1st LT, named Barney Brause, brought home a lonely Dick Portillo with him for Thanksgiving Dinner.  It was the respect that the 1st LT had for one of his men, Dick Portillo, which changed Dick’s life.  You see the Marines believe that you can only lead if your men respect you.  If you are a Marine Officer, YOU always let your men eat before you.

With our Super Connected World YOU may falsely believe its Money that is the super sauce that makes one successful.  If you have enough money, you can buy whatever you want.  When Dick Portillo had just one hotdog stand, it would be a real stretch to say he had money, yet he was able to parlay his vision into a Billion Dollar Industry and along the way buy all new windows for his Alma Mater Argo High School in Summit ILWay to Go Dick!  They Look GREAT.

So if it’s not money, what is the secret sauce?  There are actually 2 components:
1. RESPECT
2) RELATIONSHIPS

I’m sure you’ve had a Boss or Teacher that stood out (in a Good Way) from the rest.  What was it about that person that touched you?  Why were you willing to go the extra mile when they were calling the shots?  One of the reasons is they respected you.  Did you always get it right?  I’m sure not.  But when you made a mistake, they were more interested in getting things back on track rather than nailing you to the cross.  So the first principal is RESPECT.  Respect others and treat them as you would like to be treated.  There is nothing more destructive than a condescending attitude.

The second principal is RELATIONSHIPSSuccessful people surround themselves with people that add intangible value.  These are the employees, professionals and trades people that you can trust to do a good job and treat YOU fairly.  I didn’t say “THE CHEAPEST”. I said “FAIRLY”.  There is a big difference.  If you are buying a commodity like gasoline, it makes sense to focus on price; gas is gas, despite what the oil companies want you to believe.  When you are looking to purchase something that requires human judgement to affect the outcome such as a hotdog, fixing a plumbing leak, preparing a complicated tax return or getting a mortgage loan which compliments and supports your unique financial circumstances, you are not buying a commodity.  You are buying the loyalty of that person with the respect you give them and by treating them fairly.

I hire a lot of contractors, just like Dick Portillo hired a lot of employees.  Some last for a job, others have been with me for decades.  Why?  We treat each other with respect.  I know they will do a great job and they know I’ll pay them promptly.  I understand they have families to feed and they understand that I have a business to run.

Millionaires focus on building relationships, nurturing them through mutual respect and preserving them even when mistakes are made; we are all human.  Here’s a classic example.  My BEST All Time apartment cleaner is Krystyna (I wish I had 2 Krystyna’s!).  Years ago, Krystyna cleaned the wrong vacant apartment, an apartment that was a mess.  It was in the beginning stages of decorating and repair, instead of the one that was ready to be rented.  I paid her 2 different times to clean the same apartment.  Sure there was a mistake.  Sure it cost me money, but Krystyna is still my cleaning ace.  We both knew there was a mistake, but we focused on what needed to be done, rather than what went wrong and moved the ball forward.

So start thinking like a Millionaire.  Stop re-inventing the wheel.  Start building your team.  If you need a mortgage, and need a great rate and a Mortgage Broker who cares about you and your family, give me a call.  Cheers!

Get a Really Low Rate and a Mortgage which find out how you can reduce Credit Card & Student Debt at the sametime.
 
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Call Me 708.966.9005 

Wayne O’Day  

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Posted by Wayne ODay on October 13th, 2017 4:24 PM

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