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"Keep on doing you. We need more authentic selves out there in the social sphere."
- A Social Media Friend

Hey there {{contact.first_name}}!

Welcome to newsletter issue 2601. Thanks, Marco Bario of Porch Swing Funding, for inspiring me to start numbering them!

This week, I am going to tell you some lies, but I think you'll believe me at the end. Also, I skipped the final two weeks of 2025 so this issue is exceptionally dense with content.

We have some upcoming events in Freya's Arbor, including a fan favorite: Book Club with We Should All Be Millionaires by Rachel Rodgers. Limited time discount code for membership valid until 1/15/2026, more info below.

Plus, a rain cloud on parade day: what is a mortgage "bip," anyway? It took me years to wrap my head around this. See the DSCR section.

Happy New Year, friends.

All my best,
-- Kris 🌱🫶

During this traditional season of resolutions,
self improvement, and change,
I want to tell you a story that may or may not be true,
depending who you ask. 

 

As a child, I was instructed to lie – about my age for a lower-priced movie ticket, about where we lived and how much time I spent alone, about where I’d been, who I’d seen, and what I’d seen and heard. I was told which lie to tell which person, and that we should never ever lie but this time it’s for the other person’s own good. 

Every lie had a reason, but I struggled to keep track; I couldn't remember which “truth” belonged to which person. When I’d say the wrong thing I got punished, so I learned to just be quiet. I was ridiculed for being “shy” if I didn’t speak, but I preferred that over punishment. I also found that the more “shy” I was perceived to be, the less I was expected to say, which suited me fine. One could reasonably argue that my shyness was a deception because, in truth, I am anything but timid.

In my teens I realized that I’d answered a harmless question with a lie. The truth impacted absolutely nothing, but I didn’t tell it and I didn’t even have a reason. I don’t remember what I’d said, but I remember determining right then that I was going to be someone who tells the truth. 

I resolved to be honest, even if it had negative consequences. I practiced hard at being truthful, over and over, every single day, every single statement, until one day I realized it had become natural. I didn’t just become an honest person when I made the decision; it happened incrementally over time, with vigilance and effort. This taught me something very valuable:

Decide who you want to be
and practice being that person
until one day you realize
that you’re no longer practicing. 

As entrepreneurs, we often treat our professional goals like a pass/fail exam—if we didn't perfectly implement that new system or hit that specific milestone this week, we feel like we’ve failed and we give up or try something new. But what if we viewed our professional growth the same way I viewed my commitment to the truth? As a practice. If you didn't execute perfectly today, you aren't “bad at it”—you’re just in training. 

With a mindset of “practice,” you get to try again. It keeps failure at bay and hope alive because you’re still developing that skill. If you don’t quite achieve the goal each day, you aren’t defeated – you and your business(es) are works in progress. 

Years after I made that decision, I can confidently and truthfully state that I am an honest person. I have plenty of habits to train for improvement, but deception is not one of them. 

Whatever identity you are cultivating this year—whether it’s being a more strategic investor, a more present partner, or a more disciplined leader—remember that if you didn’t get it exactly right today, don't worry—you have practice again tomorrow. Do not embrace defeat.

If you’d like a coach who supports your most authentic success, I would count it a privilege to be part of your journey. Let's cultivate your genius together.

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What's a "BIP?"

In mortgage or financial language, the term “bip,” is used fairly often. What does it mean?

“Bip” actually means “basis point,” so if someone says something changed 25 bips, then it changed 25 basis points.

Okay, so what’s a basis point and why do I care?

A basis point is 1/100 of 1%. 1% is already 1/100 of something, which can make things all the more confusing. So, if 1% is written as, “1%,” then a bip is “0.01%.” Or, if 1% is written as “0.01,” then a bip is “0.0001.” Those zeros and decimals make a tremendous difference, which is why it helps you to know what they mean.

A real life example:

I have been contacted by an excited caller who told me that they heard mortgage rates went down 1% today and they wanted a quote. I got excited, too, and looked up current day interest rates. I found that nothing was really different from the previous day, which confused both my caller and me. They rightly questioned why my mortgage rates didn’t adjust with this tremendous shift in the market, and I wanted to know why, too! However, after some investigation, I realized that it’s because mortgage rates didn’t adjust by 1%; they adjusted by 1 basis point or bip. 1% would be 100 bips, which would be pretty big for an overnight adjustment! The caller had misunderstood “one basis point,” to mean “one percent.”

I share this with you because I saw a blaring headline this morning that the US 10-Year Treasury Yield was down by 4 basis points today. The implication from the headline was that this was big news and a significant shift. I’m sorry to be a rain cloud on parade day, but, it’s neither. A 4 bip adjustment is 0.04%. The US 10-Year Treasury Yield has gone up and down a spread of about 8 bips in the last 30 days. I checked. 

I promise you this – if mortgage rates ever adjust down that dramatically in a single day, you will be hearing from me. That’s a promise.

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Do you have questions about DSCR loans or want a quote? Email me at hello@krisfleming.net, or click below.

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Generational Prosperity. Resilient Freedom.

This has been newsletter issue 2601. View an archive at The Genius Journal.

615.234.1236
hello@krisfleming.net

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