The New Ways to Market Yourself

Posted on November 12, 2016 by robertjrussellcompanies

socialmedialogoSocial media and the new way people interact with each other on the web has changed the way businesses market themselves – or at least it should have.Today people want to get to know you before they buy.

They want to understand you, get to trust you and then they might want to do business with you.

Let’s go back in time for a moment. It wasn’t that long ago that your daily sales routine involved sitting by a telephone and cold calling a list of numbers.

Did that work?  No.

How often are you glad that your day’s been interrupted by a cold caller? We all hate it so why do it?

I’d like to say those days are long gone but sadly there are a few companies out there that haven’t realized that that’s not the way it works anymore.

Why use resources so inefficiently?

All those people you have on the phone could be used in other ways – such as interaction through social media and enhancing your customer service.

What are the chances of one of those people on your list sitting at home (or in the office) thinking “I wish someone would call and offer me life insurance because I really need it and have no friends to ask for a recommendation of where they got their policy from”?

Probably zero.

And should you strike it lucky and get a bite from one of your calls, is that one customer really worth alienitating yourself from the other 1999 you called that week?

I think not.

Today’s marketing is about building relationships and having conversations – and that’s what makes social media such a powerful marketing tool.

You may be shaking your head right now and saying “but how can I measure ROI?”

The truth is you can’t, but that’s not what it’s about. It’s not about a return on your investment, it’s about a return on the relationships you build.

Using platforms such as Facebook or Twitter will show people you are a company who cares about its reputation and its customers. More and more people are using Twitter to vent their anger when something goes wrong. If you’re a company that monitors it, picks up a problem and deals with it straight away you’re going to be seen as a caring company.

But if you’re not part of the conversation and their vent goes unanswered, it will probably lead to more dissenting voices until they become so loud you’ll be seen as a company that couldn’t give two hoots about your customers.

Forget the old sales methods – they don’t work anymore. Embrace social media, have conversations and listen to what your customers are saying.

Be open, be approachable and above all stop the cold calling – no one likes it.

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The Riviera Maya: The Real Estate Gift That Keeps on Giving

Posted on November 11, 2016 by robertjrussellcompanies

I dedicate my time to finding the strongest destinations to generate the strongest returns in the world. When I find them, I negotiate with developers and real estate brokers to get the best deals on the best real estate.

I’ve revealed some strong deals in recent years to that group. Opportunities to buy low…and to as much as double an investment in five to seven years.

And one location, above any, has stood out as the gold-standard opportunity on my beat. That is Mexico’s Riviera Maya. You may only know of the Riviera Maya because of the resort city of Cancun. But there’s more to the Riviera Maya than that—much more.

This 80-mile stretch of coastline, which runs from Cancun to the cool and chilled town of Tulum, is home to some of the best deals I’ve ever uncovered.

A Path of Progress is rolling down this Caribbean coastline. The Mexican government is investing heavily in the Riviera Maya. It wants to repeat its massive success in Cancun. In the 1970s, the government set about making the then-almost unknown Cancun a resort city. It invested heavily to turn Cancun from a sandy spit of land into a thriving vacation destination. It funded infrastructure, hotel building, and a new airport.

Cancun is a runaway success. Now, the government wants to repeat that success on the Riviera Maya. The Riviera Maya is on a tear. It’s in the midst of a massive growth trend. Vacationer numbers are rising steadily. In 2014 (the latest statistics available), tourist numbers for the Riviera Maya hit 4.4 million. Numbers for 2015 and 2016 are predicted to be higher.

The Riviera Maya has hotel occupancy figures that more resemble New York, London, or Paris than other beach locales in the Caribbean.

And it’s not just vacationers who are coming. The Riviera Maya is sucking in mobile professionals from all round the world. They’re coming to open boutique stores and restaurants—or work from a laptop on the beach.

Because of the high demand on hotel and other short-term accommodation, owning the right piece of real estate can have the potential for serious rental income.

And that’s where members of  Real Estate Trend Alert group have done well in recent years. Based on my recommendations, they’ve been able to lock down prime real estate—usually with special members-only pricing I’ve negotiated on their behalf—and see serious profit from rental income and from strong capital appreciation.

In just one of the deals I’ve recommended in recent years, that meant locking down a condo in a hip Riviera Maya city for members-only pricing of $136,500. Three years later, those condos have seen strong capital appreciation. One now lists for $189,000. That’s a paper gain of more than $50,000. With the right marketing, one of those buyers could do very well in terms of rental income. I’ve got word recently of one owner of a two-bedroom condo in that same development. In just the first four months of this year, he grossed north of $10,000 in income from his condo.

And the opportunity is not over on the Riviera Maya. The Path of Progress that’s rolling through is a juggernaut—I’ve rarely seen a growth trajectory as strong as this one or with so much opportunity for real estate investors to profit—that is, if you know what and how to buy.

I’m putting the finishing touches on another killer deal on the Riviera Maya right this second—one with pricing under $160,000 and where owners could see strong rental yields once the community is built out.

 

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Economic Forecasts and Market Timing – Do you know the Difference?

Posted on November 10, 2016 by robertjrussellcompanies

Does it matter what your reason is for not investing in the market? (Photo: Getty)

We all know market timing doesn’t work, but what if we don’t know when market timing is being a stealthy sneak? What if we’re using it and don’t even realize it?

This interesting dilemma came out of a series of interviews I recently undertook with a variety of financial professionals on the subject of using historic returns or economic forecasts when determining retirement projections

Grant them the wisdom to know what they can change about 401(k) plans and what Grant retirement plan participants the…

It seems a whole lot of people think it’s best to avoid using historic data because “things are different this time.” I always shiver when I hear that phrase. Do you? It’s almost as if, when I hear it, I know things are about to regress to the mean.

We’ve been languishing in this economic malaise for almost nine years now. It’s not the first time (anyone remember the 1970s?) and it probably won’t be the last, but why does it seem everyone has forgotten how we get out of these doldrums? Rather than thinking of a swinging pendulum, economic forecasters are doing the equivalent of saying the tree will grow to the sky. Only in this case, they’re saying the tree’s only going to be growing sidewise, not up.

Any student of behavioral psychology could explain this away in an instant. It’s called “recency,” and it deals with giving more weight to recent events than is their due.

In the worst cases (like now), it lends itself too easily to unmerited extrapolation. In other words, the most likely outcome for tomorrow is to be a repeat of today.

This is how lazy people make forecasts. In fact, they don’t really “make” them, merely extrapolate today’s trends into an infinite tomorrow.

But if we’re learned anything from life it’s that change happens, and it happens unexpectedly. That’s why no one believes in market timing. Since we can’t predict change, we can’t precisely predict when the market is going to make its next move.

We may know in general terms what that next move might be, we just don’t know when. Just ask anyone who’s been predicting (since 2009) doom for bond prices as soon as rates go up. Sure, they’ve got the direction right, they’re just a tad off on their timing.

Which brings up to our point: If all the king’s economists and all the king’s portfolio managers can’t put this Humpty Dumpty economy together again, are we going to just sit here and believe them? Or are we going to remember that “change happens when you least expect it?” And, if nothing else, doesn’t it seem like now is the time we least expect change.

No one saw Trump coming, yet here he is. Likewise, no one sees the next massive bull market coming, but what if it’s right around the corner?

Are retirement savers prepared to take full advantage of it? Or are they staying “safe” because the economists are forecasting continued stagnation in our economy? And, doesn’t that sound a tad bit like marketing timing?

Market timing has a bad reputation, and deservedly so. We all shirk away from it the moment it rears its ugly head. But, what if, like Invasion of the Body Snatchers, it lurks among us dressed in another person’s skin? What if our everyday “common sense” activities are leading down a path we wouldn’t knowingly take? What if we’re playing from the “politics as usual” playbook in the year of the outsider?

The sin of market timing is hubris. People simply think they can outsmart the market. They can’t.

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Living in Portugal

Posted on November 9, 2016 by robertjrussellcompanies

Imagine living in a chic, historic European city with a vibrant restaurant scene, a seaside ambience, mild weather, friendly locals, and great (and inexpensive) food and wine. That description fits Porto, Portugal’s second-largest city, to a “T.” And, after spending time in the city earlier this year, I could definitely imagine living there.

You may know Porto as the home of port, the fortified wine beloved for centuries by the British. And yes, the famous port companies—Cockburn’s, Graham’s, Sandeman’s, and many more—are still here, right across the river from Porto’s historic center, in Vila Nova de Gaia. (You can do a tour of the caves, or wine cellars, including tastings of several ports, for as little as €5: about $5.60.)

But they’re far from being all that Porto offers these days. The city is newly chic, and has a lovely historic center. Wine bars (serving Portugal’s very quaffable, inexpensive wines, as well as its ports) and cafes dot Porto’s streets and squares. And beautiful churches, leafy parks, and elegant public buildings are everywhere.

The old city sits on high cliffs above the Douro, a bridge connecting old Porto with Vila Nova de Gaia. Head west, and you can stroll for miles along walking paths that follow the Douro all the way to the Atlantic…and to sandy beaches. The city lies along the Douro River, right where it flows into the Atlantic.

Many of the city’s upscale residential neighborhoods border the water. These include Foz do Douro and Matosinhos. Boavista, another upscale neighborhood popular with expats and with Porto’s prosperous residents, lies slightly inland. All are easily accessible by metro and bus.

Real estate prices and rental rates have risen in the last few years, thanks to Porto’s popularity as a business city. But this city is still very affordable. For example, in an upscale residential neighborhood just north of Boavista, an elegant, modern, three-bedroom, two-bathroom apartment with lots of light, a huge living room with balcony, hardwood floors throughout, and a full 1,722 square feet of space was recently for sale for just €159,900 ($178,600).

Prefer to live in central Porto? If you just want a well-located pied-à-terre, a small (just under 400 square feet) one-bedroom, one-bathroom in the upscale Aliados area was recently on offer. With wood floors and a small balcony, this apartment puts you near all the action in Porto. And its asking price is just €52,000 ($58,000).

For much more space—and luxury surroundings—there’s Boavista. A 1,108-square-foot apartment just south of Boavista was recently for sale. It has two bedrooms, two bathrooms, a large living room, plenty of light, and luxury fittings throughout. You’re a half-hour walk or an easy bus or metro ride to the heart of Porto, yet are located in a tranquil residential neighborhood near major parks. It’s yours for €200,000 ($223,350).

Central Porto is home to only about 250,000 people, giving it a small-city, manageable feel. (The greater Porto area is home to 1.5 million.) And the center is genuinely compact. You can stroll from the outskirts of the old city down to the waterfront quay, the Cais da Ribeira, in as little as 20 minutes. The Cais is home to pleasant waterfront restaurants and upscale hotels that keep it busy until the wee hours.

 

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How Long Do I Need Term Insurance?

Posted on November 8, 2016 by robertjrussellcompanies

The easy answer to drop your term life insurance is when you goal for that plan is met.

For example, if you purchased the plan to cover a 30 year mortgage and paid it off early and have no further need for the protection you should drop it. If the term is met and the rates increased drastically you may want to drop it and apply for another policy if your health is still good.

Another scenario may be retirement and the nest egg is fully funded with no unforeseen circumstances, it could be time to drop it or convert it to permanent life insurance or paid up life insurance if the need for a death benefit still exists.

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National Coalition for Self Employed

Posted on November 8, 2016 by robertjrussellcompanies

National Coalition for Self EmployedOur Mission

The National Coalition for the Self Employed was started to assist employees to transition from a employee to a self employed individual and to teach these passionate people how to develop and foster a profitable and rewarding business through Self Employment.

Visit: ncforse.com

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Home sales in the first six months of 2016 increased 4.2 percent

Posted on November 7, 2016 by robertjrussellcompanies

2016 Home Sales Increasing Twice as Fast in Counties with Low Hazard Risk

The recently released ATTOM Data Solutions 2016 U.S. Natural Hazard Housing Risk Index found that home sales in the first six months of 2016 increased 4.2 percent from the same time period a year ago in the bottom fifth of U.S. counties with the lowest level of natural hazard risk — more than twice the 1.9 percent increase in the top fifth of U.S. counties with the highest level of natural hazard risk.

More than 3,000 U.S. counties were indexed based on risk of six natural hazards: earthquakes, floods, hail, hurricane storm surge, tornadoes and wildfires using data collected by ATTOM’s neighborhood research portal homefacts.com. ATTOM also analyzed home sales and price trends in more than 800 counties with at least 100 single family home sales in the first six months of 2016. Those 800 counties — which combined have more than 70 million single family homes and condos — were divided into five equal groups (quintiles) based on the natural hazard risk index and assigned to one of five risk categories: Very High, High, Moderate, Low, and Very Low.

“While price and affordability along with access to jobs are the primary drivers in local markets with strong increases in home sales activity in 2016, it’s evident from this data that natural hazard risk does make a difference to home buyers and investors who are active in this housing market,” says Daren Blomquist, senior vice president at ATTOM Data Solutions. “Even among the subset of counties where the median price is below the national median as well as among the subset of counties where home prices are still affordable for average wage earners, there is a consistent trend of stronger increases in home sales volume compared to a year ago in the lowest-risk markets for natural hazards compared to the highest-risk markets.”

Counties with highest natural hazard risk
Among the 804 counties analyzed for home sales and price trends, those with a Natural Hazard Housing Risk Index in the Top 5 highest were Oklahoma County, Okla.; Monroe County, Fla. (Key West); Cleveland County, Okla. (Oklahoma City); Nevada County, Calif. (Truckee); and Lake County, Calif. (Clear lake).

Among 78 larger counties with at least 5,000 home sales in the first six months of 2016, those with the highest risk index were Oklahoma County, Okla.; Riverside County, Calif. (Inland Empire of Southern California); Collier County, Fla. (Naples); Miami-Dade County, Fla.; and Santa Clara County, Calif. (San Jose).

Counties with lowest natural hazard risk
Among the 804 counties analyzed for home sales and price trends, those with a Natural Hazard Housing Risk Index in the Top 5 lowest were Milwaukee County, Wisc.; Kewaunee County, Wisc. (Green Bay); Racine County, Wisc. (Racine); Knox County, Maine; and Kenosha County, Wisc. (Chicago metro area).

Among larger counties with at least 5,000 home sales in the first six months of 2016, those with the lowest risk index were Cuyahoga County, Ohio (Cleveland); Lake County, Ill. (Chicago area); Kent County, Mich. (Grand Rapids); Maricopa County, Ariz. (Phoenix); and Montgomery County, Penn. (Philadelphia metro area).

Home values and home prices lower in lowest-risk counties
In the 161 counties in the top quintile for natural hazard risk (Very High Risk), there were a total of 21 million single family homes and condos representing 30 percent of all homes and condos in the 804 counties analyzed. In the 161 counties in the bottom quintile for natural hazard risk (Very Low Risk) there were a total of 10 million single family homes and condos representing 15 percent of all homes in the 804 counties analyzed.

The average estimated market value for homes in the lowest-risk counties was $187,291 — 33 percent below the average estimated market value for homes in the highest-risk counties: $279,570.

The median sales price of single family homes and condos sold between January and June 2016 in the lowest-risk counties was $156,245 on average, 39 percent below the median sales price in the highest-risk counties during the same time period: $255,160.

Price appreciation stronger in highest-risk counties over past five years
Median home prices in the first six months of 2016 have increased an average of 6.5 percent compared to a year ago in the highest-risk counties compared to a 3.2 percent average increase in the lowest-risk markets during the same time period.

Median home prices in the first six months of 2016 are up 42.4 percent compared to the first six months of 2011 (near the bottom of home prices) in the highest-risk counties, while prices are up 23.8 percent during the same time period in the lowest-risk counties

10-year price appreciation, homeowner profits stronger in lowest-risk counties
Median home prices in the first six months of 2016 are up 9.5 percent from the same time period 10 years ago in the lowest-risk counties compared to a 1.9 percent increase compared to 10 years ago in the highest-risk counties.

Furthermore, homeowners in the lowest-risk counties have gained an average of 27.8 percent in home value since purchase while homeowners in the highest-risk counties have gained an average of 20.7 percent since purchase.

Home sales and price trends by type of natural hazard risk
Over the past five years, increases in home sales volume has fallen below the overall national average in counties with the highest risk of earthquakes, hurricane storm surge, wildfires and floods while counties with the lowest risk for those natural hazards have seen home sales volume increase at a faster pace than the national average over the past five years.

Conversely, home sales activity over the past five years has been stronger than the national average in markets with the highest risk of tornadoes and hail while markets with the lowest risk for those natural hazards have seen below-average increases in home sales activity.

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What Happens if you cancel your Term Life Insurance?

Posted on November 6, 2016 by robertjrussellcompanies

The premium for a term policy is guaranteed for a certain number of years.  If you cancel the policy prior to the end of that term you will have paid slightly more for the coverage than was necessary.  Few term policies have any cash value so there isn’t anything to offset the cost of having carried the policy.  However, if the policy has done its job and is not needed any longer it is not necessary to keep it.

Another way to look at it is Term Insurance is like Renting an Apartment. It’s typically cheaper than paying house payments as a homeowner and if you move out of the apartment (cancel the insurance) then you get nothing back. It was just a place to live for a Term Period. On the upside – rent can go up every renewal whereas if you buy a 10yr, 20yr or 30 yr term – the rates are level for that term period.

http://www.InsurancePricedRight.com

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The rules about Drones

Posted on November 5, 2016 by robertjrussellcompanies

New Drone Rules Go into Effect

Transportation Secretary Anthony Foxx and the FAA Administrator Michael Huerta recently announced the implementation of the first operational rules for routine non-hobbyist use of small unmanned aircraft systems (UAS or “drones”). The regulations on June 21, 2016 are officially in effect.

“People are captivated by the limitless possibilities unmanned aircraft offer, and they are already creating business opportunities in this exciting new field,” says Secretary Foxx. “These new rules are our latest step toward transforming aviation and society with this technology in very profound ways.”

“The FAA’s role is to set a flexible framework of safety without impeding innovation,” said Administrator Huerta. “With these rules, we have created an environment in which emerging technology can be rapidly introduced while protecting the safety of the world’s busiest, most complex airspace.”

The provisions of the new rule—formally known as Part 107—are designed to minimize risks to other aircraft and people and property on the ground. A summary is available here.

Now effective, the FAA has several processes in place to help users take advantage of the rule:

Waivers. The agency is offering a process to waive some of the rule’s restrictions if an operator demonstrates the proposed flight will be conducted safely under a waiver. Users must apply for these waivers at the online portal located at www.faa.gov/UAS.

The FAA is issuing more than 70 waivers, based on petitions for Section 333 exemptions. These waivers will be posted on September 1. The majority of the approved waivers were for night operations under Part 107.

Airspace Authorization. Users can operate their unmanned aircraft in Class G (uncontrolled) airspace without air traffic control permission. Operations in Class B, C, D and E airspace need air traffic approval. Users must request access to controlled airspace via the electronic portal at www.faa.gov/UAS.

The FAA will evaluate airspace authorization requests using a phased approach.

Operators may submit their requests starting now, but air traffic facilities will receive approved authorizations, if granted, according to the following tentative schedule:

  • Class D & E Surface Area – October 3, 2016
  • Class C- October 31, 2016
  • Class B- December 5, 2016

The FAA will make every effort to approve requests as soon as possible, but the actual processing time will vary, depending on the complexity of an individual request and the volume of applications the FAA receives. The agency is urging users to submit requests at least 90 days before they intend to fly in controlled airspace.

The FAA will use safety data from each phase to ensure appropriate mitigations are in place as small UAS operations are integrated into controlled airspace.

Aeronautical Knowledge Test. Testing centers nationwide can now administer the Aeronautical Knowledge Test required under Part 107. After an operator passes the test, he or she must complete an FAA Airman Certificate and/or Rating Application to receive a remote pilot certificate here.

It may take up to 48 hours for the website to record that the applicant has passed the knowledge test. The FAA expects to validate applications within 10 days. Applicants will then receive instructions for printing a temporary airman certificate, which is good for 120 days. The FAA will mail a permanent Remote Pilot Certificate within 120 days.

In the future, the FAA also will address operations not covered by Part 107 without a waiver, including operations over people, beyond line of sight operations, extended operations, flight in urban areas, and flight at night.

Part 107 does not apply to model aircraft. Model aircraft operators must continue to satisfy all the criteria specified in Section 336 of Public Law 112-95 (which is now codified in part 101), including the stipulation they be operated only for hobby or recreational purposes.

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When Do Immediate Annuity Payments Begin?

Posted on November 4, 2016 by robertjrussellcompanies

I asked this question to David Pipes in Fresno, California and here is what he said:

” Generally speaking the annuity payment starts within one year of making the deposit. Otherwise it is called a “deferred annuity.” Annuity payments come at regular intervals for the remainder of the annuitant’s life, unless he selects another option. This will provide a higher level of consumption and remove the risk of exhausting the capital.”

I welcome your comments about this topic and would love to answer your question – please comment below:

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Thank you for your response. ✨

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