Love the Opportunity By: Jim Rohn

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Love the Opportunity

By: Jim Rohn

 

Somebody said you have to love what you do, but that's not necessarily true. What is true is that you have to love the opportunity—the opportunity to build life, future, health, success and fortune. Knocking on someone's door may not be something you love to do, but you love the opportunity of what might be behind that door.


For example, a guy says, “I'm digging ditches. Should I love digging ditches?” The answer is, “No, you don't have to love digging ditches, but if it is your first entry onto the ladder of success, you say, ‘I'm glad somebody gave me the opportunity to dig ditches. I'm going to do it so well, I won't be here long.’”

 

You don't have to love it, you just have to learn to appreciate opportunity and appreciate the person who brought you the good news, who found you. Appreciate the person who believed in you before you believed in yourself; appreciate the person who said, “Hey, if I can do it, you can do it.”

 

If you will embrace the disciplines associated with the new opportunity, you will soon find that your self-confidence starts to grow, that you go from being a skeptic to being a believer. And soon, when you go out person to person, talking to people, you will find it to be the most thrilling opportunity in the world. Every person you meet—what could it be? Unlimited! The next person could become a friend for life. The next person could be an open door to retiring.

 

The next person could be a colleague for years to come. It's big stuff. And sometimes in the beginning, when we are just getting started, we don't always see how big it is. So, before you are tempted to give up or get discouraged, remember all success is based on long-term commitment, faith, discipline, attitude and a few other stepping stones along the way. You might not like the stone you are on right now, but it's sure to be one of the stones that leads to great opportunities in the future.

6 Home Projects That Don't Pay For Themselves

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Planning a home renovation? Do it for your own enjoyment, because there's no guarantee you'll get all of your expenses back when you sell. That's one lesson from a 2014 Remodeling Magazine study. The magazine looked at prices on 35 popular home renovation projects -- and just how much of that money homeowners can expect to recoup when they sell.

 

In the study, prices were based on national averages for time and materials supplied by skilled professionals (no DIY jobs here). While some projects moved the needle on home value more than others, most didn't return 100 percent of the renovation cost at resale, according to the report. And the six projects that yielded the least at resale all returned less than 61 cents on the dollar.

 

If you renovate, "you have to understand that it may not add the value to your home that it cost you," says Mark Ramsey, broker with The Ramsey Group at Keller Williams Realty in Charlotte, N.C. So "be happy you did it and got to enjoy it," he says.

 

Here, according to the 2014 Remodeling Magazine study, are the six home renovation projects that bring the smallest return at resale.

 

Home office remodel

  Cost (national average): $28,000

  Return at sale: 48.9 percent

Sunroom addition

  Cost (national average): $73,546

  Return at resale: 51.7 percent

Upscale master suite addition

  Cost (national average): $224,989

  Return at resale: 56 percent

Upscale garage addition

  Cost (national average): $82,311

  Return at resale: 58.4 percent

Bathroom addition

  Cost (national average): $38,186

  Return at resale: 60.1 percent

Upscale bathroom addition

  Cost (national average): $72,538

  Return at resale: 60.6 percent

Top 5 midrange renovations by return on investment

Project

Job Cost

Resale Value

Cost Recouped

Deck addition (wood)

$10,601

$8,676

81.8%

Siding replacement (vinyl)

$10,256

$8,274

80.7%

Minor kitchen remodel

$21,246

$16,881

79.5%

Window replacement (wood)

$11,512

$8,946

77.7%

Window replacement (vinyl)

$10,537

$8,132

77.2%

 


 

 

 
 

American Express To Close Weston, FL Office, Lay Off 300

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American Express plans to close its Weston office, laying off 300 employees and moving 100 others to its Plantation facilities. The company (NYSE: AXP) signed an agreement with DST Output to outsource its monthly statement processing for American Express Card members and merchants in North America and Europe. The work will shift to DST Output offices in California and Connecticut starting in early 2014 and continuing into 2015. Once the transition is complete, American Express will exit its office at 2965 W. Corporate Lakes Blvd.

 

The 300 employees who will be let go – mostly those who handle printing and distribution – will be eligible for severance and other benefits. The 100 employees in customer payments and remittance will move to Plantation. “A growing number of American Express customers are choosing to receive and pay their bills online, minimizing the need for us to maintain stand-alone printing and distribution operations,” said Doria Camaraza, senior VP of American Express World Service. “DST Output is a recognized leader in the customer communications field, and its rigid security protocols are designed to protect customer data.”

 

There was no word on what will happen to the real estate American Express is leaving. The 225,300-square-foot building is owned by the Teachers Insurance & Annuity Association of America. American Express occupies the entire building.


Growing Marijuana Industry Ripe With Opportunity

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While the recreational and medicinal marijuana industries expand — 20 states offer medical marijuana and two allow it to be sold for personal use, and more may do the latter soon — there is opportunity for lenders to finance farms, commercial buildings, offices and retail spaces like grow-supply centers, and get actively involved in an estimated $2.57 billion market. At the same time, marijuana is illegal under federal law, and lenders risk losing collateral or face outright federal prosecution if they participate in the industry.

 

Hard-money lenders are working with marijuana businesses, and a federal official recently said that only 105 banks and credit unions in the U.S. are banking them, but until federal laws change, it appears most lenders will stay away.

 

Guidance, not permission

A pair of memos released this past February by the U.S. Department of Justice (DOJ) and the U.S. Department of Treasury Financial Crimes Enforcement Network (FinCEN) gave financial institutions — including mortgage lenders — loose instructions on how to work with marijuana-related businesses. The memos do not absolve financial institutions from prosecution. Rather, they make it clear that the federal government is less concerned with legitimate, state-sanctioned cannabis business than with the ugliest aspects of the marijuana industry, like distribution to minors or drug gang-related violence.

 

The FinCEN memo defined due-diligence steps that financial institutions should follow if they decide to bank with a marijuana business, like verifying that the business has its state licenses and conducting background checks of the business owners. Essentially, FinCEN advised banks not to get involved in the industry unless they know their clients well, and are willing to take on the risk. The memos, however, did not appear to reassure financial institutions.


 

Apartment Construction is Growing Nationwide

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NY Times' economics writer Floyd Norris provided a recent assessment of construction in the U.S. rental market. He writes "Over the last 12 months, the Census Bureau reported this week, builders have broken ground for buildings containing 332,000 apartments. That is more than during any comparable period since 1989. The figures include apartment buildings with at least five units." The articled noted in contrast that the building of single-family homes has partly recovered, but only slowly, and the same is true for buildings containing two to four units.

The number of single-family homes started over the most recent 12 months was more than 60 percent below the level of 2005, when the housing boom was at its peak. But the number of apartment starts is now 7 percent higher than it was in 2005. This information resonates loudly with me as a resident in midtown Atlanta, where in the past 18 months, two high-rise apartment projects have opened and about a dozen other high-rise projects have either been announced, permitted, or under construction for an aggregate 5,500 new apartments in this 20-block section of the city.


The demographic shift from single family to multifamily construction will no doubt have a number of consequences to the building industry, but otherwise this surge in projects can only be good news to labor, finance and building material industries. No other sector of the economy can provide the broad lift to growth than construction, as the circulation of dollars moves quickly and widely around from all participants.


And with the record low 7.5 percent vacancy rates, chances are there around tens of thousands of units already of the drawing boards to keep this surge growing. This development is good for lenders. The building industry relies on a supply chain that is fueled by typical SBA borrowers: building supply, subcontractors, fuel suppliers, catering, durable goods, not to mention the rise in new convenience stores, restaurants and day cares to service all the new residents.


 

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