The Problem with "Date the Rate and Marry the House"

We’ve all heard realtors and investors say, "Date the rate and marry the house."

It’s a catchy phrase designed to comfort buyers in uncertain markets: “Buy the house now, get a good deal, and you can always refinance later when rates drop.”

But there’s a flaw in this advice, one that could lead to financial strain for buyers who aren’t prepared.

The problem is simple: if house prices fall, you might not be able to refinance without bringing significant cash to the table.

Here’s how it can play out:

Let’s say you bought a house for $400,000 at a 7% interest rate—you're "marrying" the house but "dating" the rate.

A year later, rates drop to 6%, which looks like a great opportunity to refinance and lower your monthly payment.

But the housing market has also dropped, and now your home is only worth $350,000.

To refinance at the lower interest rate, you’d have to cover the...

The Power of Parkinson's Law

Your best friend calls you with an exciting invitation:

“We’re leaving in 2 days to go to your favorite city to have a little fun…wanna go?”

You’re tempted, but your schedule is jam-packed.

Five full days of work loom ahead, and you only have two days to finish it all if you decide to go.

Yet, you say, “I’m in!”

In this moment, you switch your internal “work throttle” to “get efficient and make it happen” mode.

Surprisingly, you complete all five days of work in just two days, with time to spare.

How did this happen?

Enter Parkinson’s Law. This principle states that “work expands to fill the time available for its completion.”

Essentially, whether you have one hour or eight, the same task will take the same amount of time if you allow it.

So, how can you harness this concept to achieve remarkable efficiency?

Here’s a roadmap to make it happen:

1. Create a...

In my 19 years in the real estate business, I've noticed a consistent pattern: June, July, and August are the hardest months to get houses under contract.

Conversely, December, January, and February are the easiest.

This phenomenon, known as seasonality, can pose a significant challenge for many in the industry.

The summer months can feel like navigating through a storm, with fewer deals and increased competition.

However, there are ways to weather these "summer storms" and keep your business thriving.

One of the most effective strategies is to focus on the leads you already own, especially those that are "closest to the hole."

If you're actively marketing and using a CRM (and I highly recommend you do), here are three main tactics to stay on top and keep leads coming in:

1. Re-engage Sellers Who Cancelled Contracts

Often, contracts are cancelled due to a price reduction request.

These sellers can still be converted back to new contracts at the price you initially asked them to...

Most people underestimate themselves.

And not by a little... but by a lot.

They don’t realize what they're truly capable of.

Let me give you an example.

Think about something you’ve been wanting to accomplish for a while but haven’t.

It doesn’t matter what it is.

It could be something big or small.

Either way, you haven’t done it yet.

Why?

Probably because there are one or two parts of that you don’t know how to do or you’re afraid it might not work out.

When I talk to people about their goals, it’s always the same things tripping them up:

1. Fear of failure
2. Not exactly sure on the “how to”

Let’s break it down.

Fear of Failure

Make a list (write it down) of everything bad that will happen if you fail:

1. People will laugh at you.
2. You might lose money.
3. You’ll lose time.
4. You might lose friends.

Was death one of them? 99.9% of the time, it’s not.

I used to ride motorcycles.

Mainly because I liked doing wheelies...

In 2009, I decided to escape the harsh Illinois winter and moved into a hotel in Tampa, Florida, for 3 1/2 months.

What I anticipated would be an enjoyable retreat from the cold turned into a much quieter experience than expected.

I quickly found myself with plenty of free time on my hands and a burgeoning curiosity about the hotel industry.

The hotel’s owner, a kind and approachable man, became my impromptu mentor.

We spent countless hours at the front desk discussing the ins and outs of running a hotel, especially during a recession.

The economy was in free fall, and the insights I gained during these conversations were invaluable.

The owner had purchased the hotel at the peak of the market in 2004.

His purchase price was based on an optimistic projection of 90% occupancy at $200 per night.

Fast forward to 2009, and the reality was starkly different: occupancy had plummeted to 30%, and room rates had dropped to $70 per night.

The financial impact was devastating.

It...

What's one domino you could push over that would knock down dozens more?

That's a question I ask myself on a regular basis.

In business, I discovered that as long as I was the "magic" in every deal, I would always have to be involved in every deal.

This realization led me to a pivotal decision that transformed my approach and, ultimately, my life.

The Magic of Delegation

I clearly defined "simple deals" that I could teach my team of virtual assistants (VAs) to handle without my involvement.

That was the domino I knocked over that pushed the rest of them down.

By empowering my team to manage these straightforward transactions, I freed myself from the constant need to be hands-on in every aspect of my business.

This shift allowed me to focus on higher-level strategies and personal growth, rather than being bogged down by daily operations.

Embracing Simplicity Over Complexity

Some might argue against my approach, saying, "But you're passing up on novation deals, creative financing...

I used to spend $3000 per month on a country club membership.

For years, I bought into the promise: “The value you will get in new relationships and business opportunities will far outweigh the cost.”

They painted a picture of a thriving network, business deals over cocktails, and friendships forged on the golf course.

Years later, I took stock of what I'd gained: Zero business relationships.

Zero business opportunities.

Instead, I found myself in an environment that felt stifling and unwelcoming.

The vibe was the exact opposite of what I had been promised.

The club was stuffy, the people were judgmental, and everything was a competition.

It seemed like most members were more interested in gossip than in genuine connections or mutual support.

I never felt comfortable there.

It wasn’t what I would call a “healthy environment.”

Now, keep in mind, I’m not a golfer.

Some people join a country club just to golf, and that’s great for them.

But I...