- Monday, August 30, 2010
Richard Maize Launches Richard Maize Real Estate Mortgage Banking Mentoring Website
Richard Maize, one of the most successful businessmen in North America and for many years the leading US real estate mortgage banker, is now contributing his successful experience and expertise to university students and young real estate, mortgage banking entrepreneurs both on and off the Internet.
http://www.prweb.com/releases/richardmaize/realestatementoring/prweb4268514.htm
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"Being a mentor is a fulfilling experience and offers the opportunity to contribute knowledge and insight to guide and influence a future leader in his or her professional development path."
Los Angeles, California (PRWEB) August 30, 2010
The Rochelle and Richard Maize Foundation has launched the Richard Maize Real Estate and Mortgage Banking Mentoring Website.
Richard Maize, one of the most successful businessmen in North America and for many years was the leading US real estate mortgage banker, is now contributing his many years of successful experience and expertise to university students and young real estate, mortgage banking entrepreneurs both on and off the Internet.
Richard Maize has been volunteering with the Young Leadership Development Initiative (YLDI) for the Jewish Federation of Greater Los Angeles.
In launching the Richard Maize Real Estate and Mortgage Banking Mentor Website, Maize stated: "This Website is dedicated, as a non-profit, community service to help young businesspeople make the right decisions in business."
Maize adds: "Being a mentor is a fulfilling experience and offers the opportunity to contribute knowledge and insight to guide and influence a future leader in his or her professional development path."
"This is an absolute pleasure for me. It was always my hope, as I looked towards eventual retirement, that I would be able to help my close friends do a little better in their own businesses. Now helping young people achieve their goals is even better than I ever expected. You have their respect as a successful, Jewish middle-aged businessman and you can really make a difference," says Maize.
The Richard Maize Real Estate and Mortgage Banking Mentor Website provides many commonly asked questions with answers by Richard Maize. Among the many questions and answers are the following:
How do ambitious young students with a mind for business and real estate and financing take their first steps in the business world?
Richard Maize: "The first step is to find a mentor who can guide you as to what is pertinent in today's business world. The real estate and financing business changes all the time. Once the goals are set, the young student will have to see what his or her strengths are within those parameters. This is the foundation of getting a niche in competitive business. Learn from the experienced and make what you learn younger, more imaginative and stronger than the last generation. Just like at home. You want your children to take the best from the parents and to add on with their strengths to make them even better."
"Experienced and smart business people look for young smart and innovative people to carry on what they have been doing to make their business continue with or without them in a new and better way.
How does one succeed in today's Web 2.0 fast moving, highly competitive market today?
Richard Maize: "Think Niche! Don't be like the rest of the herd. Study the marketplace and see what direction you see the business going. Be the innovator; not the follower. Find a niche and run with it. Market what you do and have others follow and work for you."
What does a young person do with very little or no money who wants to go into the real estate investing especially with the prices down and great opportunities?
Richard Maize: "Money attacks money. Confidence attacks money. Brains and ideas attack money.
First come up with an idea and opportunity. One of my mentees suggested mobile home parks to me for my thoughts. Great cash flow. Very depressed market (like most markets), great occupancy (especially in this economy) and well thought out with projections and cash flow analysis. This was their Niche. They put together a prospective and went shopping for money. With great ideas and well prepared, money was thrown at them."
Are we experiencing a low priced real estate market as a periodical cycle or is it a trend?
Richard Maize: "A little bit of both. It is certainly a cycle and could also be a trend. The real estate market had increased so fast by so much, there was artificial wealth to all those who owned real estate. However, the debt was so available that many of the real estate owners (especially single family) could really not afford the payments (thus the collapse of the markets). The only way out was to sell or continue to refinance the asset. By selling, additional equity is realized. By refinancing, tax free equity is taken but eventually you have to pay the government and the bank.
Now that the financing is such that you actually have to be a qualified borrower, the demand for real estate will be much lower coupled with getting all the bargain prices visa vi the foreclosed properties out of the market."
How about securing financing today? How do those who don't have a track record or much income get a loan for either a house or income property?
Richard Maize: "Very tough right now. We are back to relationships with your bank. Family members need to come back in the picture to help get financing. You need a job that pays enough money to qualify for a loan. Or, with the proper introductions, a "private banking" (VIP within the banking industry for high net worth clients) have lower criteria for loans."
How does one get into the finance business (mortgage banking) in this market place?
Richard Maize: "For the mortgage industry - first, be the very best you can be. Knowledge is the key. You never want to have your clients or employees know (or think they know anyway) more than you do. Learn the field, then get the best mentor in the field and just listen to him or her work at her desk, then build confidence that you can do what you need to do to get the job done at the best and most competitive manner in the marketplace. Think outside the box and look at all alternatives to get the job done."
"Is this a good time to invest in real estate?"
Richard Maize: "This is a great time to buy real estate. You buy when people sell and you sell when people want to buy". You either need seed money from your own account, relatives or start a fund.
Is there a difference between the LA, New York and international markets and if so what are they?
In California and New York is where the differential is. The laws are very different. In New York you need an attorney to close to perfect a mortgage which is more costly than California where you will need an escrow company to complete the transaction. In New York you have various mortgage taxes and you need to use a mortgage to document a lien. In California there are no mortgage taxes and you need a trustee to guarantee a lien. It's a lot easier to complete a transaction in California."
How do we avoid pitfalls, mistakes, shortcuts, corruption and greed to keep our and the lives of others clean?
Richard Maize: "You absolutely need to know and guard yourself from those you do business with (under the assumption that you are an honest person which most are). Avoid temptation and good sales work by con people for their benefit. Understand, a smart person can always make more money under the guidelines than taking shortcuts which leads to greed. Don't be tempted by the fast talking "bad guy". Listen to your gut. Follow your instinct. You are not above the law (either ethical or legal). You need to be respected and trusted."
The Rochelle and Richard Maize Foundation actively promotes a wide variety of humanitarian projects, including ecologically sound practices in his own home and provides useful information on "going green".
Richard Maize avidly supports the democratic State of Israel and is one of the first to be on site to lend a helping hand when disaster occurs around the world.
Immediately following the devastating earthquake which struck Haiti in January 2010, Richard Maize joined forces with the Israel Defense Forces, the Israel Ministry for Foreign Affairs and Israel Flying Aid to illustrate their life saving efforts to the world.
Richard Maize is dedicated to supporting worthwhile non-profit organizations in the US and Israel that give people "the chance to live healthier and happier lives."
Richard Maize generously contributes time and financial resources to community organizations that cover health, welfare, young leadership, the environment, art and culture. These include the Los Angeles Police Foundation, American Cancer Society, Cedars-Sinai Medical Center, Vista Del Mar Child and Family Services, Israel Maccabiah Sports Games, Camp Harmony, Greystone Mansion and many others.
"We are trying to facilitate an appreciation and understanding of the role that creativity plays in our lives, alongside support for vital institutions," Richard Maize stated.
"But of all of the community work that I am presently involved in, nothing is more rewarding than being directly in contact with our youth. Helping them to learn, grow and secure honest and prosperous careers in the real estate and mortgage banking industries. Giving these young students a fishing rod is by far more valuable than giving them fish."
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