HALLE EAVELYN * Investor / Entrepreneur * Los Angeles * USA * OCTOBER THEME * CO-OPERATION * Interview by Karla Darocas

[Karla Darocas *New Frontier]

Los Angeles investor-entrepreneur Halle Eavelyn, is a very popular woman. For over 20 years, clients have co-operated with Halle in order to administer a successful real estate transaction, or a self-directed Individual Retirement Account . Halle helps people learn how to earn more money - on their money. With her experience, Halle has become an expert on judging co-operative situations - good and bad - and making the best business deals possible for all concerned. In this interview, Halle shares some very important tips of her trade and strategies for dealing with unco-operative clients.

QUESTIONS & ANSWERS

Q* Halle Eavelyn – How do you co-operate with your clients in order for them to see the whole picture of how their investment strategy will work?

A* I am NOT a real estate agent, and I believe this gives me my biggest advantage. I am not subject to the same rules as a realtor is. People want to work with me if I call to help them out with a foreclosure or another difficult situation as they don’t trust realtors, but they will trust me because I am not one. I start by educating my clients on HOW working with me will help them and make them more money, then I SHOW them, step-by-step, on how the process will work. Then, I keep them informed each step of the way.

Q* Do you find yourself co-operating with real estate agents and brokers in order to get the right product for your clients? If so – please explain and give a couple of examples.

A* I work with real estate agents and brokers all the time to find properties, even REOs. It doesn’t cost me ANYTHING to work with them (the seller pays all fees) so it’s a great way to find more properties and it’s a great way to help keep people employed in a market that’s getting harder to keep your job! (I do NOT suggest getting a real estate license this year or next, FYI ;-)

Q* What advice would you give to business students who would want to get into the loans and investment business for themselves – any tips of your trade?

A* My suggestion is – don’t get a license and become a private investor. And... don’t become a loans officer. Start a private lending bank – that will both serve you in the next 5 years in the market downturn, which we are experiencing right now. Plus, you will be offering services others cannot offer, and differentiate yourself through a smaller niche in each case. Educate yourself as MUCH and as THOROUGHLY as you can – be a life-long learner! Set a goal to take a new class or read a new book each month – it will keep you abreast of new info and it will keep you focused on your long-term goals. Speaking of which... Set WRITTEN GOALS for yourself – 30 days, 60 days, 90 days, 1 year, and 5 year goals. Through my own personal experience and from reading them over and over, I can tell you that writing your goals down and looking at them each day can make a HUGE DIFFERENCE in achieving them!

And, spend a half day each month focusing ON your business, instead of IN your business. Work for someone else? Think of yourself as a little “department” inside of the company you work for. Ask yourself - how can that “department” become more efficient, more productive, reduce costs, etc. Work for yourself? Strategize – how can you grow your business? What are 5 ways to bring in clients, reduce your costs, who can you partner with to seem larger or offer more services, without raising your overhead? What kind of free marketing can you do? Even a half day a month will help you see some huge changes over time. After all, what we focus on expands – negative or positive. Which do you want to focus on?

Q* Do you ever come across very unco-operative associates or clients? How do you deal with them?

A* Sometimes I get clients who, no matter how many times I have explained things, or put things in writing for them, still refuse to understand the deal properly. This can be everything from “what do you mean, you get half the profits in our joint venture?” to “Now that things are not going well because the market has taken a downturn, I want to undo the deal” (when there’s no way for that to happen). The trick here is 2 things: patience (as you re-explain things for the umpteenth time) and compassion – most of the time, people act out of ignorance or fear, and you can’t take anything personally when you hear the same question 6 times. Distance yourself from the situation – the client is not your friend or your pal – they are your client. It’s just business.

Q* Personally – how do you judge co-operational skills?

A* Co-operation, to me, is just how well people work together. But I will screen people when I first meet them, and look for the following “red flags”:

* Saying NO a lot, especially in our earliest conversations. They should be in listening mode while you are explaining to them how the deal works.
* Lots of interruptions and talking over you. This can mean a big ego, which can cause you more problems later on.
* A quick temper – perhaps not to you directly, but to their spouse or child who happens to be with them, or to a business associate they know better than you. Eventually, it’s going to be you that they direct their anger to.
* References to past deals gone sour. I once had a tenant who had sued EVERYONE he had ever had as a landlord – sure enough, eventually, he tried to sue me, too. And I once had a client who was suing 3 past business partners. He never sued me, but he threatened to! He wasn’t a bad guy, he just saw everything as everyone else’s fault.
* Blaming others for past failures – eventually, they will probably blame you, too!


Perhaps you don’t want to work with someone who exhibits the above tendencies, or perhaps you still do? However, now you can go into it with your eyes open, and make sure you are on the lookout for those issues. Protect yourself by making people write things down in their own handwriting, or sign an extra agreement that spells out the contract in layman’s terms, so they can’t tell a judge they “didn’t understand” (this is a good choice if you are helping folks out of a foreclosure, too). Remember that your sense of well-being in your job is as important as the money, and trust your gut instinct if you hear a little voice tell you not to work with this person.

You may continue your conversation with Halle Eavelyn – below – or through her New Frontier profile page!

[Firoz Shroff]

Hi HALLE.

I am fascinated by your real estate coaching and marketing approach. How can I work with you to replicate this concept in your area. I am working on a project in Markham Canada www.cornellgates.com and would welcome your input. I am also looking for entrepreneurial partners to take this project to next level.
Kind regards www.firozshroff.com