© 2013 Catherine Hall Unlimited, Inc. All Rights Reserved Vol 18 June
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The Fastest Way to Success for an FHA Consultant - 877-869-4440


I hope you all are having a busy start to a successful summer! If you are a 203k consultant, be sure to mention to the buyers and the real estate agents that you meet that a 203k is the best and sometimes only way to take a house that's tore up from the floor up and turn it into the neighborhood showcase.

I know that as for me, I have done seven 203k consultations in the past two weeks and have more to come! I have even helped one of our members, Marc Shanley, who will be certified within the next few weeks, (I am sure, as he has already submitted his package) by doing the initial consultation for projects in his area for which when they close, he will take over and handle all the draw procedures. Marc even got to go along with me on these two consultations to get firsthand training on how to conduct a consultation appointment. Marc said, "I feel like I'm stealing money, as there's so little work involved when I'm doing a 203k feasibility walkthrough of the house. This will be great!"

The 203k Day of Discovery is in just a few days and there are still a few seats available! Register now! Stay tuned, as we are gearing up for our Fall series of events including a Day of Discovery in Pittsburgh, PA and very possibly a 203k tour of California. 

203k In A Box is becoming known as the resource for 203k consulting on a national level! Being a member is setting them apart from the average consultant and proving that they are truly the elite and the best of the best! See the links below to join now! 

To your success, 
Catherine Hall, the "203k Queen"

June 2013


Inside the "Box"


Don't forget to register! 
Upcoming Event:
June 7th, 2013
203k Day of Discovery 2.0
in Denver, CO
at Academy Mortgage
Register Now

Success Supplies Section

Special Note from Catherine- Special gifts in your packet this month!

This month's Success Supplies has two special gifts for our members. First, for all members is the amazing audio book "Who Moved My Cheese" by Spencer Johnson. This is a fascinating little book that will only take you an hour to listen to- for some of you that is less time than it takes to get to your home inspections. It teaches lessons on how to recognize, respond and capitalize on the one thing in life we all can't escape- CHANGE. Listen to it with your children, too. The story is fun and easy to absorb at even the youngest level. I am giving it to you because so many of you are not recognizing the change to becoming a 203k consultant will help you "find new cheese".

The second gift is ONLY for our certified members. It is a magnetic sign that looks like the one displayed here.
This is a great magnet that can go on your car. It will direct people to the 203k In A Box website to learn more about 203k loans. 

Also, check the Success Supplies CD for the Power Point presentation that was given to the Academy Mortgage Loan officers last month. We gave you the audio recording and the printed handout in May, and this month you are receiving the actual customizable presentation. You should have no trouble getting in front of real estate agents and lenders with this fast-paced presentation. The actual webinar is available as a link from this e-newsletter and on the Power Team section of the website. 

Speaking of the 203k In A Box website- have you provided Jessa with the details about your company and your certification status for the 203k consultant database? It will soon be the most frequently used resource for finding qualified 203k consultants--by county...something FHA's roster doesn't do! If you are not on the list- email your company web address, your certification number along with the counties you serve. We will update the roster twice weekly.

And don't forget to share the e-newsletter with your business contacts--let's keep the knowledge flowing!

I look forward to seeing many of you at the 203k Day of Discovery 2.0 on June 7th, 2013 in Denver, CO. 


Cost Estimating for the 203k Consultant

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The price of a new vinyl thermal pane window - $350 or $550? The cost of a square foot of granite countertop $55 or $80? Are questions like these about the cost estimating function of an FHA 203k consultant causing you anxiety about doing 203k consultation projects or maybe even preventing you for completing your application package? Then let me give you the good news right now! Estimating your 203k projects is NOT the difficult process you think it is. It really is NOT the elephant in the room. 

You do need to have a solid grasp of the 50-100 items that are commonly called for in most 203k projects but this is easy!

1. Replacement windows- most standard sizes cost the same. What is it in your area? You can find out from any home center store or contractor. In my area, they are about $350-$400 (all our windows are energy efficient thermal pane).
2. What is the cost to upgrade a typical 2 and 3 piece bath? Cost of toilet, sink, tub or shower?

What is the typical cost to replace 1 liner foot of wall or base kitchen cabinetry and 1 square foot of laminate and granite countertop?

These are the items that will come up in about 80% of all your 203k projects. Get these numbers and you are pretty much home free.

What about heaters, electric services, etc. Yes, you need to know these prices too, but, you will in time be able to remember all the common items that will come up in your projects. More importantly, you don't have to really have these numbers at your fingertips. 

Yes, the borrowers will walk around and ask you "What will this cost me... and what will that cost me?" When you are just starting, you may have to have a cheat sheet glued to your clipboard under your note pages. You can surreptitiously take a peak while appearing to write notes on the project. As a rule of thumb, if you are cornered into giving verbal numbers and you are not sure- say so! Say that you are not able to calculate this information while you stand there as you must factor in several elements like contractor overhead, cost of permits and other factors. Assure the customer that you will be certain to have accurate information on the feasibility report. Also, if you do intend to give some numbers out while you are walking about the property - make sure the numbers are somewhat higher than you truly think the cost will be- and make sure you tell the customer that you are overestimating because it would be easier to be wrong on the high side then on the low. 

The best way I make sure I have accurate cost estimates is to get the data from the contractors I have on my database. I frequently send them an email asking them to give me updated labor and material costs. Usually, about twice each year, the price of materials like drywall, romex, and roofing shingles change. Checking with your contractors periodically will help you stay on top of these changes.

Additionally, I find it very useful and actually fun to wander around Lowe's and Home Depot. I go to the plumbing, electrical, doors and flooring departments and look at the new items that I know my borrowers are looking at. I take picture of the cool new lighting fixtures and the really nice cabinetry or countertop materials with my cell phone. I will sometimes show these pictures to the borrower at the consultation appointment to give them an idea of what their money will buy. I will get pictures of products in all three levels of pricing- economy, builder's grade (standard) and premium. Depending on which the client chooses from just one item, I have a good idea how to price all my material allowances throughout the project. 

The most important thing to remember about cost estimating is that in the final analysis it is the prices provided by the contractor that determine the mortgage--you are only providing costs as a preliminary step to help guide the borrower to the next stage in the loan process. Trust your instincts- your knowledge and you will be pleasantly surprised how accurate your costs estimates are.

Jessa's Corner

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Thank you so much to all of you that have submitted to me your information for 203k Consultants Roster! We will make the page public once everyone has emailed me their information. Use the email box below to send! Include your company name, company web address and the counties you service. It's going to be a great way for real estate agents, home buyers and anyone else looking for a 203k consultant to find one in their area!

BIG THANK YOU to Don Mathews and Brenda & Scott Julian for their wonderful testimonials that they sent to me right away last month. Since they were both sent in the same day, we sending them both email links for their $25 amazon gift cards! Check out the new contest this month on the right side of this e-newsletter for your chance to be this month's winner! 

Please let me know of any questions, comments or concerns you have at any time by clicking the email box below! Have a great month and I look forward to working with each and every one of you! See you in Denver!

The 10 Things Successful People Live By Before They Make It

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Our bookshelves are lined with habits that successful people do on a daily basis. We read about them and implement them into routines and practices. Quite often, these practices improve our productivity and make our lives better as a result. But that's not what this article is about. It's not about what successful people do, but what they did. 
Here's a brief study of 10 things that these hungry and unstoppable people did to see the success they all eventually achieved. 

The 10 Things Successful People Live By Before They Make It

1. They didn't use excuses. We all have two voices. There's the voice that tells us to work hard, to focus on the task at hand and to finish it before we move on to the next. And to finish it well.
We also have the voice that tells us to take a break, to think about what's on TV, or to visit a site that we like to visit that entertains us - whether it's or Facebook.

In life, we're the victim of injustice from time to time. It could be a promotion that we deserve but don't get. No matter who we are, we're going to be treated unfairly at some point. We can either feel sorry for ourselves, or push forward and put it behind us - even use it as motivation. 

Nelson Mandela could have used his unjust imprisonment as an excuse to give into his anger. Instead, he used it as an opportunity to learn, grow, and eventually free others. 

Listen to your excuses. Understand why you have them. Then figure out how you can use them for good.
2. It wasn’t just about them. ‘Things’ can be a motivator, they can even be a reward, but they can’t be the motivator. The truly successful in life always get there because they created change in the lives of others, not just their own.

If something drives you that is greater than just the ‘ends’, we’re going to work harder, longer, and we’re going to give more of ourselves to our project.

Yes we can make money when we have the primary goal of making money. Some might even use that money for good – which is awesome. But there’s no fulfillment in simply making money. And isn’t that the point? 
3. Early mornings and late nights. People who have achieved true success in their lives have worked for it. This might come at the detriment of other areas of their lives, such as family or social life. But their mission is first and foremost. Until it’s complete, everything else comes second.

There’s literally no substitute for hard work. Abraham Lincoln said, â€œThings may come to those who wait… but only the things left by those who hustle.” If you want to be successful, you’re going to have to out hustle everyone else.
4. The greatest commodity. Energy is a huge commodity that is often not talked about. Yes, energy in the sense of fuel and electricity is talked about everywhere, but I’m talking about our own energy levels. The fact is that the more energy we have, the easier it is to focus, and the higher the quality of our work is. One of Richard Branson‘s ‘key’s to success’ is staying in great physical shape. So would raised energy levels be the greatest benefit to working out? It may be. Keeping physically fit gives us greater blood-flow to our brain, enhanced alertness and improved focus. Make training a routine part of your life and increase your chances at success – in every meaning of the word.
5. Principles.
"History will be kind to me. For I intend to write it." Winston Churchill had principles. The difference between him and the rest of us, is that he stuck to his principles at all costs. He didn’t waver when they weren’t popular – an extreme rarity in politics. What are your principles? All of us should have them, know what they are, and live our lives by them. One of Apple’s principles is to bring change to the world through technology, and they do it with every product they release. Identify what principles you have that guide your life through tough times, and when things couldn’t be any better. They shouldn’t change, and at your core, neither should you.

6. Wavering, yet unbreakable faith. We all have moments of doubt. Even the best of us question if our dream is going to come true. The one thing that separates the truly successful from those who never reach their true potential is an unbreakable faith in the fact that what they’re doing is right.
Even if they have moments of doubt, they’re soon quelled, where other’s listen to that doubt and let it eat them up and finally they quit. Have your moments of doubt. You’re human. Just don’t let that doubt eat you up. Instead let it motivate you to prove your optimism right.
7. A reason. Many of the greatest accomplishments in the world were accomplished by insecure men and women, people who had something to prove to others. A desire to elevate their status and create change that was so strong, that failure is simply never and option.
Abraham Lincoln‘s reason(s) had to do a lot with his view of himself in relation to how other’s viewed him. Where others saw a poor, illiterate boy, Lincoln saw someone capable of achieving more, even if he had to do it completely on his own. He also saw the need for change. A nation that preached freedom wasn’t free. He saw something fundamentally wrong with this and set out to change it. His why wasn’t about him. Which in turn made him one of history’s great men. Understand why. You have that reason to work when others sleep, to sacrifice a safe life for a risky one with no ceiling. Find it by asking why, and not stopping until you hit your core, emotional reason for wanting to change your status, or the status of others.
8. They persevered when others didn’t.
How does the guy who quit on his dream know how long it would’ve taken him to become a success? He doesn’t. None of us do. It could be tomorrow, or ten years from now.

What separates a lot of the great people we read about in our history books from those we’ve never heard of is the fact that they never quit. Quitting was never an option. They only stopped when they reached their dream. And even then, they created a new mission. Take James J. Braddock, or even Nelson Mandela, for example. They didn’t achieve their greatness or success early on in their careers or in life like some. They achieved it after surviving. They survived while others literally died, or quit. In their cases it wasn’t just that they were the best, but they were the best because of what they endured. They were the last one’s standing. We don’t know when our breakthrough will come. So don’t guarantee your failure by quitting. You can adapt, change, and evolve, but never, never, never quit.
9. Great people relentlessly studied their craft. Tony Gwynn and Mike Tyson studied their craft as much as anyone. Gwynn spent hours upon hours studying opposing pitchers. He studied their patterns. He wasn’t the most athletic guy around, but he put his work in to be the best at what he did: hit baseballs. When people think of Tyson, they think of an animal, but what we fail to see is the student. No one studied boxing like Tyson did. Watched more film than anyone in the history of the sport. He was a student first, a fighter second. These great athletes studied film, but how can we perfect our craft? Using myself as an example; much of my job has to do with writing, and obviously fitness. So, I study those two things. I read books about how to become a better writer, ways to connect with the reader, and I simply read great books written by authors who are much better at writing than I am. If you’re in sales, read and study sales. If you’re a marketer, then do the same with marketing. Being a drone that simply goes through the motions is no way to achieve greatness. Assuming success is something you want, you have to study your craft, whatever it may be. Learn it inside and out. Build a wealth of knowledge. It’ll help you create great, inspiring, and unique work.
10. Risk. No risk, no reward. Yes it’s an over-used, cliché of a phrase. But it’s true. Those who have achieved real success have often risked the most to get there.

There have been billions of people throughout history who have had the ability to achieve greatness, whether it was the talent or smarts, they had it. What they didn’t have was the guts to risk the life that they were living. They also didn’t have the work ethic to see their talent realized.

The greatest tragedy in life is wasted talent ~ A Bronx Tale
Your big, audacious dream might be to marry the girl of your dreams and have a family with her. You risk might be to leave the career that you love in order to support her and your family. Your dream might be to help millions live longer, healthier lives. Whatever your dream is, give it enough of a chance to be realized. Risk if you truly want to see the reward.

Find your dream. Then risk everything to get it.

It's Getting Hot in Here!

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I don't know about you- but I have not been this busy in at least 15 months. Every day 2 or 3 new 203k projects are coming across my assistant's desk. Agents are calling for FREE FHA compliance reviews on their listings or wanting to know how to guide their client on the best way to take advantage of the 203k project. 

On June 7th at the Academy Mortgage offices in Denver, CO, I will be teaching the 203k Day of Discovery 2.0 class--why? Because the need for FHA 203k consultants who are qualified and educated has never--never been bigger. Are you registered for this class? It's not too late. If you are a 203k Power Team member, your cost for this class is only $39! Contact Jessa for the discount code. 

I need you- YOU! Every day, lenders are calling asking if we have consultants in their area. Get certified, it is not as difficult as you think and you will start making money immediately and easily. Come on- dive in!

The 5-Minute Productivity Breakthrough

by Brad Isaac

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Do you have something you are putting off?

You might be putting off excercise.  You may be putting of writing a business plan.  Maybe it’s something else.  Whatever it is you are putting off can be achieved if you simply put 5 minutes toward achieving it.

I can almost hear a collective sigh.  "Only 5 minutes?  Brad, you’ve lost it this time." 

Have I?  Not really.  If I can get 5 minutes of solid, no-nonsense, best effort, you’ll get more done.

It works very much like Isaac Newton’s theory (cool first name by the way).  Newton’s law states an object in motion, tends to stay in motion unless acted on by some external force.  All we have to do is get ourselves in as much motion as possible for 5 easy minutes and the rest will take care of itself.  You can do 5 minutes can’t you?  Sure you can. 

Simply  tackle your chosen task for 5 minutes.  Set a timer and get to it for a full 5 minutes.  At the end of the time, decide if you’d like to continue.  If not, you’ve met your commitment.  You are free to stop.  However, more than likely, you will want to continue.  You’ll want to finish what you start.  Like Newton’s law, you will be in motion, so you will tend to want to stay in motion. 

One of the keys to this method is putting forth the very best effort for all 5 of those minutes.  No we aren’t allowed to go to the bathroom, eat or watch TV during those minutes.  Just focus for a full 5 minutes working on your task.

Here’s a real life example.  Your conscience is nagging you to get outside and get some excercise.  Your body is saying "I’m tired.  I don’t wanna!"  Your conscience keeps nagging, your body keeps pushing back.  By the way, this is what we call stress, but that discussion is for another day.  Anyway, you have a battle on your hands for sure. 

How do you deal with it?  Simple…Negotiate with yourself.  Say "Ok, I’ll take 5 minutes to get dressed and get outside and excercise my very best.  At the end of 5 minutes, I can quit.  I can easily do 5 minutes…anyone can!"

And think about it, who can’t do 5 minutes of anything?  You can do just about anything and do it well for 5 minutes if you put your mind to it.  Writing your first small business plan may seem quite overwhelming.  But what if you are just viewing it as a 5 minute task?  Suddenly, it seems like a small inconvenience to get started.  You work for a solid 5 using your very best energy and dedication and you will most likely find something about the process you like.  You will want to keep at it.  You will want to uncover more opportunities.  You will want to keep making progress.

Powerful Motivational Thoughts (Part 1)

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Please do yourself the honor of slowing down for a few minutes to read these motivational thoughts. I promise it will be well worth your while. Take a few deep and clearing breaths, too – did you ever stop in your tracks and notice how short and shallow your breathing can be when it's go-go-go all the time?

Breathe deep, enjoy this powerful motivational thought, and if you feel they are worthwhile, please share this page with others.

Motivational Thought #1: Your Goals, the Doubters, the Reality

When it comes to your greatest goals, if anyone tells you that you shouldn’t, that you couldn’t, remember that all they are really saying is that they don’t believe they could.

Never let the doubters drag you down.

If in those quiet times you can see the goal in your mind’s eye, if you can feel the joy of it throughout your being, then it is already yours, and it is now just a matter of working through the emotional barriers like fear, impatience, worry, and guilt to bring your goals, your reality, to light.

Does this sound familiar? It should - it is taken almost directly from Napoleon Hill's amazing book "Think and Grow Rich". Read the sections again on faith and auto-suggestion. They will motivate you a whole lot better than anything I could do. 

Explanation of Fees for 203k Consulting Costs

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Here is the script for all of you to use when someone asks you what your fees are as a 203k consultant. For starters, and most importantly, just like when someone calls for a home inspection, you never start off with your fee. You never give that out right away. Instead, you say to them, “Great, you’re looking for information about our feasibility services; that’s fantastic! Well, let me tell you what we do. All of our feasibility reports include a repair level breakdown that involves the mandatory, recommended, and desired items broken down into separate reports. It also includes a detailed description of what the repairs need to be. Also, as I am also a licensed home inspector, for an additional fee if the borrower chooses, I would do a home inspection on a separate report. But in many cases, because this 203k report is being completed by a licensed home inspector, many sellers will accept this report in lieu of a home inspection. Thus, saving your buyer the cost of a home inspection report. So, our feasibility study fees can be as low as $250, but our normal feasibility study fee is $400. The feasibility fee amount is deducted from the total work write-up once they proceed to the next phase. For example, if the total work write up is $750, then that $400 is applied to that cost and all they have to pay upon completion of the final work write-up is $350.” So in reality, they don’t really pay anything for the feasibility study, because it’s deducted from the total cost of the project. 

I have written this out for you because I wanted to stress to you the importance of educating people on why it’s worth them paying you for your services as an educated, successful, and knowledgeable 203k consultant.

What's Inside?

"Knowledge is NOT power- the consistent use of that knowledge is true power."
-Catherine Hall
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Quotes for your Success

"Achievement seems to be connected with action. Successful men and women keep moving. They make mistakes, but they don't quit."
- Conrad Hilton

"Only those who dare to fail greatly can ever achieve greatly."
- Robert F. Kennedy

"You are the average of the five people you spend the most time with."
- Jim Rohn

"The elevator to success is out of order. You'll have to use the stairs... One step at a time."
- Rande Wilson

Every month for the past two years I have shared information about various charities and worthwhile causes that I support. It occured to me that I have never asked you what are the charities and causes that you support. So I am asking now. The first Power Team member who emails with the webaddress of their worthwhile cause or organization will receive a donation of $50 to that group in their name. Next month we will publish the winner. Hurry, entries must be e-postmarked by 12:00pm on June 5th, 2013. 

Become a Power Team Member!

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