BY: MICHAEL LYNCH

Things You Don’t Learn In Class

At Auburn

My Background

Graduated From Auburn- Accounting Degree

MBA at UAB, Concentration FinanceMaster’s in Real Estate Valuation,VCULive in Demopolis, ALWorked for a group of Families buying

and selling land all over the countryI do a little bit if everythingWhat I’ve Learned Is More Important…

What’s The Most Important Thing In Real Estate?

What kind of man are you? Do you always keep your word? Do you ever manipulate, exaggerate, or pervert the truth? Are you always honest no matter what the outcome will

be? Is your reputation and integrity more important than

money? Do you work till the job is done or are you a 9-5er? Can people depend on you when things get tough? Do you treat other folks money like it’s your own?

Due To The Large Amount of Money At Stake- The Real Estate Industry Brings Out The Worst Qualities In Human Beings – Be Careful…

The Actions You Take Determine The Man You Become

Nothing Is Black and WhiteYour Decisions Will Be Complex And Have

Serious ConsequencesPeople Are Smart- They Will Understand Your

Intentions

Example of Integrity

Pat Smith, Registered Forester

Find A Successful Mentor

How many people know where they are going to work when they graduate?

How many people know what company they will be working for when they graduate?

How many people know exactly what there job will be or what they will be doing when they graduate?

What is the key to moving up in an organization?

What is the most efficient way to learn about your job or industry?

Learning Curve Getting Started

My Mentor

Bill Mackey, Entrepreneur

Tricks Of The Trade

Always Give Your Customers A Discount On The Invoice

Never Use A Round Number When Estimating A Value For A Serious Client

It Doesn’t Cost Any Extra To Be NiceWhen Negotiating, Never Give Your Number

First- Always make Them Give You Their Number First

When Someone Puts You On The Spot And Asks An Important Question- Always Reply Let Me Think About It, An I’ll Get Back To You

What Drives The Real Estate Market?

Is It Supply And Demand?Is It New Employment, Population Growth,

Availability Of Credit?Can Human Emotions Drive The Real Estate

Market?Do Your Finance Or Economic Professors Ever

Talk To You About Human Emotions?How come the Real World Is So Different From

The Academic World Or Your Text Books?

Example of Arrogance & Pride

Example of Greed

Lesson’s Learned

You Make Your Money When You Buy Something, Not When You Sell It…

Always take The Money And Never Worry About How Much The Next Guy Is Going To Make

Don’t Let Low Interest Rates Influence Your Decision To Buy A Marginal Property

Always Understand The Risks Associated With Your Property

How Come The Real World Is So Different Than The Text Books And What You Learn In Class?

The Real World Is Not FairThe Real World is Vey Hard And ComplexThere Are Many Real World Variables You

Can Not Predict Or Model Human Emotions Have A Large Impact On

How You Negotiate Or Deal With PeopleYou Must Take Action To Truly LearnYou Will Fail Many Times In Your Real Estate

CareerIf I’m Ever Invited Back…

Real Estate Cycles

Do You Believe In Real Estate Cycles?Is There A Repetitive Nature To Events?What Drives Real Estate Cycles?

Construction, Interest Rates, Inflation, Technology, Availability of Credit, Social Changes

Can You Make Better Decisions if You Understand Cycles?- When to Invest, When to sell, When to save, Understanding the value of specific types of real estate

The K-Wave

Suggested Reading…

You have to know what’s going on to make good decisions The Wall Street Journal Business Week

Bias in information Which way are you being persuaded? Buyer or Seller Broker or Appraiser Banker or mortgage broker Who giving you your news

Any Questions?

Lets Beat LSU This Weekend

WAR DAMN EAGLE!!!!