Strength Thru Diversity
The Blueprint with Mike Prewett
Mike leads a meeting emphasizing the importance of diversity in the workplace and in business. They discuss various topics related to real estate investing, including depreciation schedules, the 101010 rule, and 1031 tax-free exchanges. These discussions aim to equip participants with additional tools and strategies for their real estate business, encouraging them to diversify their business for strength and success.
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Off Market Opportunities
The Blueprint with Mike Prewett
Mike, a real estate professional, discusses the importance of exclusive client relationships for accessing off-market investment opportunities. They explain that these opportunities are reserved for their clients under a twelve-month exclusive buyer brokerage agreement. Mike shares their frustration with individuals seeking off-market deals without committing to them as a client, likening such requests to "[expletive]." They emphasize the need for mutual commitment to access their services, which include finding both listed and non-listed properties.
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The 10/10/10 Rule
The Blueprint with Mike Prewett
Mike leads a discussion on investing in real estate, focusing on the 101010 rule. This rule advises keeping interest rates under 10%, using less than 10% of one's own cash for property investments, and maintaining properties within a 10-mile radius of one's residence. Mike explains the benefits of leveraging and the risks of financing depreciating assets. They suggest that following these rules can make real estate a profitable investment for individuals, providing diversification and potential tax advantages. Mike encourages their audience to consider these strategies for their financial...
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Who Wants To Pay Less Taxes?
The Blueprint with Mike Prewett
Mike leads a discussion on real estate investment strategies, focusing on appreciation and depreciation for tax benefits. They encourage participants to shift their focus from purchase price to net return and to leverage IRS depreciation schedules. They use a hypothetical example to illustrate how these strategies can result in tax deductions without actual financial loss. Mike emphasizes the importance of these strategies for growing wealth and reducing taxes legally. They also announce a special guest, John Mangham, who will discuss tax-free exchanges on Wednesday.
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The Wind is Shifting
The Blueprint with Mike Prewett
Mike, a real estate professional, addresses the challenges of the past three years in the residential market, noting the lowest transaction numbers in 35 years. Despite this, Mike is optimistic about a market shift, citing recent reports of increased home buying and mortgage application volumes. Mike emphasizes the importance of adapting to market changes and suggests solutions like the portability of mortgages to ease affordability. They encourage agents to engage in their business and take advantage of the potential rebound in 2026.
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Home For The Holidays Pt.2
The Blueprint with Mike Prewett
Mike leads a discussion on addressing common objections from home sellers and buyers during the holiday season. They suggest using a 'home for the holidays' program to mitigate these concerns. The program includes appointment-only showings, select days and times for showings, Mike's presence during all showings, no yard sign, and no lockbox. Mike encourages agents to adopt or modify this program to stimulate action during the typically slower holiday season.
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Home For The Holidays
The Blueprint with Mike Prewett
Mike discusses handling objections from buyers and sellers during the holiday season. They suggest using questions to understand the customer's perspective and concerns. Mike shares their 'home for the holidays' program, inspired by car manufacturers' holiday sales promotions, to encourage sales during this period. They plan to present this program in detail to encourage adoption and use in sales strategies.
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Starting A Podcast
The Blueprint with Mike Prewett
Mike discusses the importance of podcasting for business, noting that 39% of weekly podcast listeners use YouTube, surpassing Spotify and Apple combined. They emphasize the need for video podcasts to engage viewers, not just listeners. Mike advises creating a podcast and uploading it to YouTube, suggesting that it doesn’t need to be professionally produced. They advise starting with one video per day to meet YouTube's requirement of 100 videos for better visibility. They encourage adapting to this trend to stay competitive.
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The Collective Genius & AI
The Blueprint with Mike Prewett
In this meeting, Mike discusses the ongoing exploration of AI with the team. They highlight the upcoming session led by Hannah, which will delve deeper into AI embedded connections. Mike encourages the team to embrace change and learn new skills, comparing it to personal growth. They share examples of how team members are using AI, such as Brian using it for route planning and Tracy using it for BNI presentations. Mike emphasizes the importance of sharing ideas and experiences within the group to harness collective genius.
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The Collective Genius - Pt.2
The Blueprint with Mike Prewett
Mike leads a meeting discussing the importance of adopting AI technology in real estate to stay competitive. They share examples of how other agents are using AI for scheduling, follow-up campaigns, and improving presentation quality. Mike emphasizes the need for agents to stay updated and utilize AI to enhance their services. A free CE class on AI usage is scheduled for the day, encouraging participants to bring their tech tools for a hands-on workshop. Mike challenges the group to adopt a positive learning attitude to stay ahead in their industry.
info_outlineMike, a real estate professional with over 40 years of experience, shares their insights on various scams targeting real estate agents. They recount a recent incident where a real estate agent was fired for scamming tenants and warns against scams involving coaching programs, Zillow, and brokerages. Mike emphasizes the importance of not accepting payments directly from clients and encourages agents to discuss potential opportunities with them before investing. They highlight their commitment to the success of their agents and urge them to be cautious and vigilant against scams.