Welcome to the 2010 Fall Issue of the S.E.C. Observer. William F. Richert, S.E.C. President, encourages us to use “creative thinking vs. traditional thinking” in order to succeed even in the present economic climate. Steve England is looking for young entrepreneurs and wondering where they have gone.
In Part II of Ted Blank’s series, he once again asks us to “love our banker” and he provides great advice about how much you might offer on bank REOs. Don’t let the title of Dan Murphy’s article frighten you — this is a “must read” article with excellent and timely advice. Lance Warner, S.E.C. Education Foundation President, also has some tips and suggestions along with an update on the Ed Foundation’s progress. Lance is also “In the Spotlight” in this issue and you will learn about the colorful and various professions that eventually led him to real estate.
The History Files in this issue were all written in 1972. Jim Misko and Cliff Weaver suggest some strategies to save time and make money, and Marv Naiman offers an excellent “hobby” for all real estate professionals.
Our national sponsor, Bill Exeter, Exeter 1031 Exchange Services, LLC, keeps us up to date on issues that concern our marketplace.
Enjoy this issue, and as always, we welcome your comments, suggestions, and submission of articles to be considered for publication. Please contact the S.E.C. office via email sec@secounselors.com.
Jackie Hellingson
S.E.C. Observer Editor
S.E.C. President's Message
Traditional Thinking vs. Creative Thinking
Traditional thinking is about “what is” — Creative thinking is about “what can be.” The news headline recently said “Double Dip Recession Possible.” The media enjoys seeing the “glass half empty” and it’s not the first time we’ve heard “the sky is falling.” In fact, it has happened numerous times in the past.
:: read this articleFeature Articles
Where Have All of the Young Entrepreneurs Gone?
I had a disturbing conversation with a 35-year-old small businessman yesterday. He confirmed what I have observed. We seem to have produced a generation of young folks who have little desire to own and build their own businesses.
:: read this articleSociety Columns
I Love My Banker - Part II
When a bank loan goes 30 days delinquent in payments or past the due date, it becomes a scheduled item with the auditors. They may or may not require any reserves be put aside for loan losses. As default status continues, the loan will be written down based on borrower financial strength, appraisal, strength of the bank, etc.
:: read this articleFormulas and Strategies
Preparation…H
When I asked other S.E.C.s how much they prepared for a meeting, the response I got most often was “Preparation…Hell, I’m too busy ‘to prepare’,” hence, Preparation…H. As I look back at my thirty years in the Society, I’m in the same boat. We are all running hard and fast between business, family, and life in general, but how much time do you actually spend preparing for a meeting? How do you prepare?
:: read this articleS.E.C. Education Foundation
S.E.C. Education Foundation
The uncertainty of the current economy creates significant pressure on the charitable resources of The Education Foundation’s Farley fund to provide timely and effective help for those in need of assistance. While financial assistance is certainly important, and greatly appreciated, there are many other things we can do; not the least of which is to do what we have been trained to do — seek to provide compassionate, effective, and timely counsel.
:: read this articleSociety News Briefs
S.E.C. Marketing Conference September
The S.E.C. National Invitational Marketing Session will be held at the Hilton Indianapolis • 120 West Market Street • Indianapolis, Indiana • 89109.
:: read this article GREEN: More Than Just a Color
The S.E.C. Education Foundation is pleased to announce that Peter R. West, S.E.C., CCIM, will present “GREEN: More Than Just a Color,” from 9:00 a.m. to 5:00 p.m. on Sunday, September 19, 2010, in Indianapolis.
:: read this articleIn the Spotlight
Lance Warner, S.E.C.: Biography
Although it was not a subject that the family would ever discuss, it is alleged that Lance’s paternal grandfather was a half-breed Seminole from Florida who grew up when such ancestry was a liability.
:: read this articleThe S.E.C. History Files
Grab a Root and Growl
Everybody’s “gotta be somewhere” — right? Every property’s “gotta have an owner” — right? From the Empire State Building to the four-unit motel that was just condemned, all real estate is owned by a legal entity.
:: read this article Paper is My Hobby
Admittedly, some paper is not worth papering your walls with, but that which one feels comfortable (and that takes in the vast majority of notes) is truly an excellent commodity, and one that the real estate practitioner would be wise to understand and learn to work with.
:: read this article Check Your Habits
CHECK YOUR HABITS! It has been said that we are creatures of habit and Real Estate Brokers are certainly “habit” creatures.
:: read this articleExeter 1031 Exchange News
Solving Problems With a Private, Professional Fiduciary
I gave a brief overview of our private, professional fiduciary services at the last SEC marketing meeting, and have received a number of calls and emails since then asking for clarification regarding our fiduciary capabilities.
:: read this article
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